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Coinbase valued above $100B, ahead of direct listing

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Re: Coinbase valued above $100B, ahead of direct listing

#61

Post by kevindeasis »

tony101 wrote: post #54
kevindeasis wrote: post #33

Ah yes, possibly the 5th company that I wished I joined this past 18 months... Historically there were some exchanges that have been hacked. This caused not only the company to go bankrupt but people losing a lot of money. How does coinbase prevent this from happening? This is very much one of the reasons I will never hold crypto (FYI: I've wrote my own Golang flavour of ethereum blockchain and solidity when it first…

It's not perfect, but I believe Coinbase uses a combination of cold (offline) storage for most of its coins and insurance for the rest. Also, as you probably already know, people should not hold large sums on exchanges if they can use secure their own keys (and wallets) instead. > "Coinbase prioritizes the security of our customer's digital currency through a combination of online “hot storage” and offline “cold” sto…

Wow, that's a fun fact, there is an insurance. That's pretty cool, I wonder how much insurance are for these companies and brokerages

Re: Coinbase valued above $100B, ahead of direct listing

#63

Post by rakejake »

randomopining wrote: post #15
willyg123 wrote: post #8

No matter if you think we're in a bubble or if this valuation supports your view that we are in a bubble, at the end of the day we are all losers who have decided to spend our precious time on a Friday night glued to HN.

Yeah dude I gotta quit this and my other forums lol. I spend so much time reading about stuff and trying to learn... instead of chilllin.

Same here. I convince myself by saying, hey this is not reddit or some sportsforum or but this is probably a worse form of procrastination. At least when I visit /r/nba or espncricinfo, I can relax a bit and just enjoy.

Re: Coinbase valued above $100B, ahead of direct listing

#65

Post by PragmaticPulp »

01100011 wrote: post #47
lazylizard wrote: post #24

Earlier quoted context omitted.

why must it come down? there is no gravity.

Isn't inflation the economic equivalent of gravity? If an asset isn't growing faster than inflation, it's losing money. If there are other assets offering better risk/reward then money will flow to them and out of the inflated assets.

Inflation is high, but it's nowhere near enough to explain the recent market mania. Likewise, stimulus isn't enough to explain the market mania, especially after you subtract out COVID economic losses.

Personal savings rate is up, discretionary spending is down, people are stuck at home, and everyone is glued to their phones. I think a lot of people's extra money is going into crypto and the market. FOMO reigns supreme, at least until the numbers turn red.

Re: Coinbase valued above $100B, ahead of direct listing

#66

Post by Hydraulix989 »

PragmaticPulp wrote: post #46
randomopining wrote: post #16

I don't get how everybody is just making a killing right now. What goes up must come down? Are people going to get uber burned? Like somebody who put in 50% of their net worth today, and maybe it drops?

Prices go up because money flows in. In a bubble (up to you to decide if this is a bubble) a lot of people end up very wealthy on paper, but they only keep what they manage to sell before the retraction. Sadly, a lot of people can't resist the urge to double down as prices get higher and higher, meaning they lose more on the way down than they thought they were risking on the way up. > Like somebody who put in 50% of…

YOLOing is different than making cautious educated trades and investing in an index fund

Re: Coinbase valued above $100B, ahead of direct listing

#67

Post by ggm »

It doesn't much matter to me if its crypto currency or real goods, when markets, stock exchanges float, I think we're insane.

The marketplace should not of itself be valuable. If it is, its extraction of value for the goods/utility being traded. Its rent seeking. The only possible value derives from what is a tax on trades by volume and value, to NOT fund the engine which runs the trades. Sure Lloyd's of London is priceless. Priceless really should mean "does not usefully have a price, in that sense"

If coinbase is worth $100b what does that even mean in terms of the sustained value of the dollar?

Re: Coinbase valued above $100B, ahead of direct listing

#68

Post by cm2187 »

1helloworld1 wrote: post #48

I am afraid that we might be on the verge of another dot com level bubble. It's interesting to see how one inflated asset is propping up another. Tesla - which rose by 1000% in 2020, bought bitcoin. Ark Invest Etfs - some of the biggest actively managed etfs, hold significant amount of Tesla, and with the profit generated from Tesla's phenomenal rise, they are investing more on bitcoin. I believe in the future of cry…

the nice thing with that bubble is that because it is manufactured by the Fed, you have an easy signal for when it has reached its top, just look at the weekly fed balance sheet:

https://www.federalreserve.gov/monetarypolicy/bst_recenttren...

And right now they are still printing more and more.

Re: Coinbase valued above $100B, ahead of direct listing

#69

Post by [deleted] »

djrogers wrote: post #37
endisneigh wrote: post #12

So what happens to global valuations once the world population starts shrinking? I also wonder what would happen if there was another significant war - surely peace cannot continue forever.

> once the world population starts shrinking What's your reason for such a firm belief that this is absolutely going to happen in any timeframe that matters to this valuation?

[deleted]

Re: Coinbase valued above $100B, ahead of direct listing

#70

Post by systemvoltage »

wsc981 wrote: post #34
willyg123 wrote: post #8

No matter if you think we're in a bubble or if this valuation supports your view that we are in a bubble, at the end of the day we are all losers who have decided to spend our precious time on a Friday night glued to HN.

It’s Saturday morning for me in Thailand right now. I’m gonna drive a bit around on the 2nd hand motorcycle I bought this week - my own very first motorcycle. Lots of fun!

What model motorcycle did you get?
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