41–50 of 121 posts
Honest question, why is Coinbase listing on the NASDAQ (edit: tangentially also NYSE)? If their whole business model is predicated on the success of crypto-currency shouldn't the whole world of fiat currency be completely irrelevant and a distraction?
Honest question, why is Coinbase listing on the NASDAQ (edit: tangentially also NYSE)? If their whole business model is predicated on the success of crypto-currency shouldn't the whole world of fiat currency be completely irrelevant and a distraction?
There was a time when would have loved to buy Coinbase stock. Just a few years ago, they were by far the easiest was to buy crypto (IMO). At that time they also felt like the most legitimate site and for people who didn't 100% know what they were doing, but wanted to buy some Bitcoin, that perception of legitimacy is important. For those reasons, I feel like they kind of dominated the casual coin holder space, and I…
Many Stock brokers like Webull let you buy crypto, but you can't transfer them to your wallet or use them to make purchases. Also, they claim no fees, but they add the fee to the spread (the spread is artificially increased to 1% both ways (2% total)) ... so it is like a hidden fee that ends up being more then what you pay on Coinbase, especially if you trade a substantial amount each month [1]. So Coinbase is still…
Fair, but I feel like most people I know aren't using crypto as a currency right now. They're more interested in holding or speculating on the price, so transferring to another wallet is a non-issue.
> Also, they claim no fees, but they add the fee to the spread (the spread is artificially increased to 1% both ways (2% total))
I'm not up to date on Coinbase's latest fee structure, but I think 2% still may be less than, or at least comparable, to what they are charging. Even if it isn't, the illusion of no fees will attract a certain amount of people.
> especially if you trade a substantial amount each month
Do people trade a lot using Coinbase (serious question)? I was under the impression that there were better platforms out there more suited to day/swing trading crypto.
There was a time when would have loved to buy Coinbase stock. Just a few years ago, they were by far the easiest was to buy crypto (IMO). At that time they also felt like the most legitimate site and for people who didn't 100% know what they were doing, but wanted to buy some Bitcoin, that perception of legitimacy is important. For those reasons, I feel like they kind of dominated the casual coin holder space, and I…
Of course it's really hard to predict what those future markets might be or how much value Coinbase will be able to extract from them, so I have no idea if $68 billion is a reasonable valuation.
Earlier quoted context omitted.
Real lambos and houses. No one wants dirty fiat.
If anyone has fiat lying around causing them problems I'd be happy to take it off your hands. I'm certified for proper fiat handling.
You can't be trusted not to manipulate the Bitcoin market, as you just got fined; your customer service is abhorant and you keep shutting down accounts and trades for no explicable reason. Why would anyone trust you with anything at this point is beyond me.
I want you personally to know that YOU and Coinbase (and what it represents) are the bane of Bitcoin and all of HN and YC should know that.
Would've been interesting if they'd IPO through some crypto means, like on ether or something
The reason is the SEC. Look into stokr.io.
I only wish the SEC (or the European authority) had more bite, as stokr absolutely deserves to be shut down.
Coinbase has been using Morgan Stanley's Shareworks platform to manage the direct listing, which has been a nightmare to use. ACH transfers take over a week and the platform has a ton of technical issues.
In my experience, financial literacy is so poor and Dunning Kruger so high that typical non-finance human beings constantly blame the process for extremely basic mistakes, like sending money between accounts of different titles but saying that you own both of them. Even the word "title" would detonate the average person.
Coinbase has been using Morgan Stanley's Shareworks platform to manage the direct listing, which has been a nightmare to use. ACH transfers take over a week and the platform has a ton of technical issues.
In my experience, financial literacy is so poor and Dunning Kruger so high that typical non-finance human beings constantly blame the process for extremely basic mistakes, like sending money between accounts of different titles but saying that you own both of them. Even the word "title" would detonate the average person.
Coinbase has an alumni Slack filled with complaints on Shareworks.
Honest question, why is Coinbase listing on the NASDAQ (edit: tangentially also NYSE)? If their whole business model is predicated on the success of crypto-currency shouldn't the whole world of fiat currency be completely irrelevant and a distraction?