Could Coinbase have done an Initial Coin Offering (ICO) to raise money for their investors and employees instead, where the coin tracks revenue or something?
Why?
Coinbase S-1
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Re: Coinbase S-1
#22I do ask myself if a 100B valuation on public listing is the start of mainstream crypto.
Plus the direct listing is a giant middle finger to traditional banking and overall establishment, right?
Like : Here are the new rules this new internet will be playing by. Direct, decentralized. Adapt or die?
Re: Coinbase S-1
#23I have tried to use Coinbase this past month to buy some ETH. Worst customer support I have ever seen in my life.
Have a look at Reddit to see what's going on with this company:
https://www.reddit.com/r/CoinBase/new/
It's not ok to brag about your business when many of your customers are in deep emotional stress because you mess with their money.
Re: Coinbase S-1
#24Good for them. But am I the only one who finds it slightly ironic that the brainchild of distributed ledger tech and crypto currency capitalism is now filing for IPO in what is the hallmark of old capitalism (regulated markets)?
It makes complete sense. You need a fiat ramp to get into the crypto ecosystem. You want the fiat ramp to be regulated.
Re: Coinbase S-1
#25numbers are very good, $1.27B revenue with $322M net income for 2020
Re: Coinbase S-1
#26I have no doubt that they have a good business model, and that they are positioned quite nicely in the market. It's just that these valuations are getting crazy.. Everyone is already pricing in like 10+ crazy years of growth. Not everyone can grow like Facebook did...
The nutty valuations will continue so long as the fed maintains ZIRP and buys $120b worth of bonds each month.
Re: Coinbase S-1
#27Do you think BTC is worth $500k? If so buy Coinbase.
10 trillion economy? maybe
Re: Coinbase S-1
#28I wouldn't be surprised, and by that I mean I actually believe, that organisations like Coinbase are directly manipulating the price of BTC in order to create a big hype and excitement before their IPO.
Re: Coinbase S-1
#29Do you think BTC is worth $500k? If so buy Coinbase.
This isn't even remotely necessary for Coinbase to do well - the only thing they need is for crypto currencies to be more widely used in 25 years.
Re: Coinbase S-1
#30I do ask myself if a 100B valuation on public listing is the start of mainstream crypto. Plus the direct listing is a giant middle finger to traditional banking and overall establishment, right? Like : Here are the new rules this new internet will be playing by. Direct, decentralized. Adapt or die?
Coinbase play within the rules of the current establishment.