671–680 of 883 posts
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There's something pretty surreal about an actual multi-billionaire running the youtube investor guru schtick.
At least he's not selling a course
The NYSEs parent company Intercontinental Exchange Inc (ICE) is worth 66.40B. Today's IPO puts Coinbase at 100B+. The NYSE has been in operation since 1817. Coinbase has been in operation since 2012. The value of all crypto is Trading fees in the crypto-world are getting more competitive as more established players support crypto. I don't see a defensible market position here, let alone established track record or st…
Agreed. As I've pointed out elsewhere, Coinbase trading fees are about 60x those of NYSE, Nasdaq, etc.; and Coinbase siphons off about 0.4% of the entire crypto market cap per annum. I don't see how that is sustainable at all.
The NYSEs parent company Intercontinental Exchange Inc (ICE) is worth 66.40B. Today's IPO puts Coinbase at 100B+. The NYSE has been in operation since 1817. Coinbase has been in operation since 2012. The value of all crypto is Trading fees in the crypto-world are getting more competitive as more established players support crypto. I don't see a defensible market position here, let alone established track record or st…
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you should be able to understand that even the possibility of that becoming the new ICE has to be priced in, of course you are free not to do it though.
Priced in, only if you're completely insane. Have you priced in the risk that the SEC shuts down the offramps before it gets there?
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In theory yes. In practice, cashing out billions of dollars worth of stocks is easier than cashing out billions of dollars worth of crypto.
You wouldn't be selling those on the open market, institutions have been able to acquire billions of dollars worth of crypto OTC without moving markets. Another option is, now that it's becoming clear to people that Bitcoin is here to stay, you can just borrow against it to spend (avoid taxes, hold on to the upside). Case in point, this person/group borrowed 300M$ with about 1B$ net worth[1]. 1: https://defiexplore.c…
This is misleading. The markets definitely move, they just don't show a massive spike in the charts.
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Priced in, only if you're completely insane. Have you priced in the risk that the SEC shuts down the offramps before it gets there?
Obviously both of those possibilities are priced in. Investors aren't stupid, Gamestop notwithstanding.
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I spoke to him on the phone within a few hours of that post, as I had already prototyped an app to do what was described. I didn't launch mine, nor participate in his (obviously). I suggested that a business in that space, if successful, would result in a similar outcome as happened to other founders of international money transmission systems that weren't under direct government control: i.e. swatting. He was not di…
> I'm still not sure why the hammer hasn't come down on something like Coinbase by now Perhaps you have a answered yourself: “re-centralizing everything in a place that is easily and instantly censored by the exact system it was built to replace”.
To me, it's a shame to see. Now that Gmail and Coinbase have captured so much of their markets, they (or anyone who can coerce them) are now free to start censoring what goes in or out, turning a federated, permissionless system into effectively a dictatorship.
https://cryptobriefing.com/bitstamp-begins-track-off-exchang...
I really hope that's not what ends up happening. It's a bummer that financial services in the global west engage in such legally-mandated gatekeeping, locking billions out of the most lucrative payments markets. The internet and cryptocurrencies present a new opportunity there, and re-using the same decades old regulation to segregate the technology into the haves and have-nots is, to me, a tragedy.
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It's just a smart contact vault, you can put collateral, take it out whenever you want, you just need to make sure that at any given point in time you have at least 150% of your debts value in collateral in the vault. This person is at over 400%, so very conservative borrowing, can withdraw some collateral. There are also centralized versions with blockfi if you prefer traditional loans.
150% collateral (66.7% LTV) seems fairly risky for an asset like Bitcoin tbh
If it dips below 150% the contract is automatically liquidated. Should give ample time for the creditor to get their money back.