61–70 of 736 posts
Many have forgotten why we used cryptocurrencies in the first place. The original promise of cryptocurrency was to become independent from banks. In the end CoinBase (like every exchange) is a great product, but just a bank. It's centralized, hackable, has economies of scale, etc.
Good 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's always better to sell shovels
Love reading the risk factors section. First thought: how can a lay person possibly understood the risks as laid out here? Also they view this as a major risk: •the identification of Satoshi Nakamoto, the pseudonymous person or persons who developed Bitcoin, or the transfer of Satoshi’s Bitcoins; Second thought, what an incredible business and growth. 1.14bn in revenue on 193bn in trading volume: thats 60bps on every…
I don't quite understand what the risk to coinbase is if Satoshi is alive/identified? Do they think he has a hack or something?!
This means that Satoshi's BTC (~1mio.) are potentially liquid which would mean a gigantic influx of fresh bitcoins.
It's quite plausible that any movement of these old wallets would crash the Bitcoin price for quite a while.
Created a coinbase account recently and found that there's no way to verify your identity if you have an expired ID. Because of covid, Maryland let expired drivers licenses still be valid for the forseeable future, but Coinbase automatically declines them.
Many have forgotten why we used cryptocurrencies in the first place. The original promise of cryptocurrency was to become independent from banks. In the end CoinBase (like every exchange) is a great product, but just a bank. It's centralized, hackable, has economies of scale, etc.
Lots of things evolve and change and their original intent is twisted. It’s ok. Life goes on.
I 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...
EDIT: Yes, it is valued at more than ICE and NASDAQ combined with a fraction of the revenue and significant risk. Most optimistic outcome priced in at $100b. Is the benefit of *NoPOs” that there is no underwriter to push back on the valuation? Maybe you can get a few suckers at a super high price therefore you should?
Love reading the risk factors section. First thought: how can a lay person possibly understood the risks as laid out here? Also they view this as a major risk: •the identification of Satoshi Nakamoto, the pseudonymous person or persons who developed Bitcoin, or the transfer of Satoshi’s Bitcoins; Second thought, what an incredible business and growth. 1.14bn in revenue on 193bn in trading volume: thats 60bps on every…
I don't quite understand what the risk to coinbase is if Satoshi is alive/identified? Do they think he has a hack or something?!
Love reading the risk factors section. First thought: how can a lay person possibly understood the risks as laid out here? Also they view this as a major risk: •the identification of Satoshi Nakamoto, the pseudonymous person or persons who developed Bitcoin, or the transfer of Satoshi’s Bitcoins; Second thought, what an incredible business and growth. 1.14bn in revenue on 193bn in trading volume: thats 60bps on every…
I don't quite understand what the risk to coinbase is if Satoshi is alive/identified? Do they think he has a hack or something?!
Love reading the risk factors section. First thought: how can a lay person possibly understood the risks as laid out here? Also they view this as a major risk: •the identification of Satoshi Nakamoto, the pseudonymous person or persons who developed Bitcoin, or the transfer of Satoshi’s Bitcoins; Second thought, what an incredible business and growth. 1.14bn in revenue on 193bn in trading volume: thats 60bps on every…
The disruption is already well underway. The only thing that slowed down DEX's eating of a bigger part of the market share is the current high fees on Ethereum.