Coinbase cuts staff by a further 20% • Hacker News Board

Re: Coinbase cuts staff by a further 20%

#531

Post by newaccount74 » Fri, Jan 13, 2023, 7:52 PM UTC

guntherhermann wrote: post #530

newaccount74 wrote: post #415

Earlier quoted context omitted.

If the companies didn't matter, why would you put them on your CV?

Because they matter to the people you're getting hired by. Are you for real?

It was a retorical question. The companies on your CV obviously matter.

Some companies will make a good impression, some companies will make a neutral impression, and some companies will make a bad impression.

And with the current situation, I doubt that crypto companies on your CV will be in the first category.

Re: Coinbase cuts staff by a further 20%

#532

Post by nicky0 » Sat, Jan 14, 2023, 8:30 AM UTC

SunlightEdge wrote: post #408

nicky0 wrote: post #147

Earlier quoted context omitted.

You make it sound like a £3 transaction fee is evidence of some kind of scamminess or preying on naivety but most normal, regulated investment platforms, crypto or not, come with transaction fees, account fees, fund management fees and so on. Usually they are taking a lot more than £3 from you too. That's even before we get into the world of professional financial "advice" and the commissions they just happen to earn…

Mmmm that's a reasonable point - I didn't mind paying fees for the coins, but I do think its a little iffy about fees to withdraw... On another note, one thing about Coinbase that struck me, was that on the app/website it doesn't actually show you how much money you put in / what the return on your investment is (I used a spreadsheet to track my own investment "success"). I suspect Coinbase does not do this deliberat…

£3 fee isn’t a withdrawal fee, it’s a transaction fee to sell your bitcoin for pounds. The actual withdrawal of pounds to you bank account is free.

Likewise, you could withdraw your bitcoin to your own wallet for free. The fee comes when you change from one type of currency to another.

I think the reason they don’t show return on investment is because Coinbase presents itself as an exchange, not an investment platform. The purpose is to facilitate the exchange of currency from one kind to another. They’re not positioning themselves as trying to help you build up retirement nest egg.

Re: Coinbase cuts staff by a further 20%

#533

Post by robertlagrant » Mon, Jan 16, 2023, 9:18 AM UTC

VLM wrote: post #254

robertlagrant wrote: post #183

Earlier quoted context omitted.

It could be that people are just holding on. The question is: why is it worth anything at all?

There's a fundamental floor of value where "in the bad old days" I once bought a specialty swiss army knife (a very custom gift; details utterly irrelevant) and I wanted the knife enough to pay middlemen about 20% overall to turn by USD into ... whatever the swiss were using at the time. It used to cost twice as much money to move money around the world than to move a small consumer good around the world. That's just…

That's fair. Buying things overseas is much, much simpler. I wonder what the value of that would be if BTC were to only be valued on that basis.