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Coinbase Announces Listing Date of Its Stock on the Nasdaq

blog.coinbase.com

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Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#51

Post by vmception »

superfrank wrote: post #17

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…

So I don't get that impression because the trading fees are a sideshow.

Coinbase Vault is providing access and liquidity to the whole DeFi market without ever saying it.

Its like not investing in Amazon because you didn't notice AWS. The similarity being limited to there being a non-consumer facing product that might be bigger than the visible one. Coinbase has a lot of growing revenue streams, which has almost nothing to do with the retail platform of non-crypto people looking to buy crypto.

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#52

Post by kgog »

ac29 wrote: post #42
qbasic_forever wrote: post #36

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?

The VCs that gave them many dollars would like their investment (and hopefully, profit) returned in dollars.

At a minimum, that's a signal for the future of cryptoCURRENCY. :)

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#53

Post by vmception »

qbasic_forever wrote: post #36

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?

The US markets have the most liquidity and access and users compared to all markets in the world, including crypto markets.

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#54

Post by rodonn »

tedunangst wrote: post #39
rawtxapp wrote: post #29

Earlier quoted context omitted.

> But I have no idea if people use that feature frequently. Looks like they made 4.57B$ in revenue with 97M$ in profit [1]. And "We’ve continued to see strong adoption, with 3 million customers [buying bitcoin] through the past year, and in January we saw 1 million new to bitcoin in just one month." 1: https://www.coindesk.com/square-cash-app-bitcoin-revenues-sw...

It's a bit odd to count that as revenue. Like Robinhood counting their entire trade volume of $350 billion as "revenue".

Unfortunately under US accounting rules you have to do it this way in your financial filings.

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#55

Post by vmception »

tedunangst wrote: post #37
westpfelia wrote: post #16

Earlier quoted context omitted.

typically options dont get written for a few months until after

Should be able to sell short the day of, but locating borrows may be difficult depending on who's holding it.

If you have direct market access and a clearing house you can do whatever you want, its the reliance on brokers that limits all the other market participants

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#56

Post by qbasic_forever »

TedDoesntTalk wrote: post #40
qbasic_forever wrote: post #36

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?

> why is Coinbase listing on the NYSE I don’t think you read the article, let alone the headline.

Pedantic point.

Question remains...

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#57

Post by qbasic_forever »

ac29 wrote: post #42
qbasic_forever wrote: post #36

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?

The VCs that gave them many dollars would like their investment (and hopefully, profit) returned in dollars.

Ahh, there's the real reason. So why do the VCs want fiat and not crypto returns?

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#58

Post by loceng »

qbasic_forever wrote: post #56
TedDoesntTalk wrote: post #40

Earlier quoted context omitted.

> why is Coinbase listing on the NYSE I don’t think you read the article, let alone the headline.

Pedantic point. Question remains...

My guess is they need to allow mainstream investors to get some of their eggs in the Coinbase-Bitcoin basket, so then they can really ramp up and involve the VC-Finance Industrial Complex to further buy into the MLM-Ponzi scheme.

Edit to add: Your 3 downvotes have convinced me, especially because most certainly they didn't come from users financially incentivized for Bitcoin to gain popularity.

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#59

Post by tedunangst »

Black101 wrote: post #27
superfrank wrote: post #17

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…

For reference, coinbase is currently quoting bid/ask for bitcoin at around 58/62...
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