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Coinbase is a decentralized company, with no headquarters

blog.coinbase.com

71–80 of 203 posts

Re: Coinbase is a decentralized company, with no headquarters

#71
post #3

I can see a future where office work is so rare that it's considered to be a major benefit only afforded by large corporations.

Why would it be a benefit?

Because you don’t have to cram 2 new desks into the expensive 1 bedroom apartment you share with your partner.

Re: Coinbase is a decentralized company, with no headquarters

#73
post #34

How do you do taxes for something like this? Like lots of employees working in lots of different states/countries, no “home base”. Is there an easy way to do it?

there are payroll companies like https://justworks.com/ that have entities in each state to deal with the wage tax issue. that's the "easy" way as far as i know.

The main issue is that having a full time employees in a state creates a "nexus" in that state, which means you need to file a bunch of tax things and deal with regulatory issues you wouldn't otherwise need to. At the size of coinbase, its probably pretty simple to deal with and doesn't cost much relative to their bottom line, for a 15 person company, it is much easier to deal with 1-2 states than to deal with 15. You can avoid paying sales tax in some areas based on how this works out when you are small but not when you are large. Justworks doesn't help with the whole tax nexus issue, just providing benefits.

Re: Coinbase is a decentralized company, with no headquarters

#74

Earlier quoted context omitted.

One thing the average worker should watch out for is companies who perform geographically adjustment pay scales. Some WFH companies now even list that as a benefit that they do not do these type of adjustments. I'm not sure what the best answer is to that but feel many are using it as an excuse to pay workers less.

Why wouldn't companies use WFH for their own benefit? They are businesses. I find it weird that western workers somehow imagine that WFH means that they can happily work remote but not compete with other remote workers. The fact is that their big value-add has been the physical contact with the employer, as employers want to interact with their employees f2f for god knows what reason.

I agree with the sentiment that companies should compete on WFH wages, the same as they would compete on anything else. It's really weird to me that HN thinks it shouldn't make a difference. Why not? You get to pick the job, pick it if it pays enough, don't if it doesn't. If it suppresses wages.. good, they were too high anyay.

But I disagree with "f2f for god knows what reason.". Face-to-face is really important to lots of people. That group of people is relatively less well-represented in HN comment sections, where lots of hacker types who are motivated by the work and would prefer to avoid socialization hang out, but it's a huge factor for lots of people.

I, for one, am considering changing jobs to find one with an office as soon as possible if my workplace doesn't go back to having a physical office, which it looks like it won't.

Re: Coinbase is a decentralized company, with no headquarters

#77

Do workers who are employees of a company but are working from home get to write off part of their home or apartment as a business expense, the way contractors and self-employed do?

I just looked it up. Employees cannot.

Depends on the country. In Germany you can. You need to have a separate room that is mainly used for that job. Eg Teachers, IT Professionals etc can benefit from it.

With the pandemic there is a flat amount everyone can deduct for 2020.

Re: Coinbase is a decentralized company, with no headquarters

#79

Do workers who are employees of a company but are working from home get to write off part of their home or apartment as a business expense, the way contractors and self-employed do?

The real bummer about this write-off is that it's binary based on the usage of the space - if you use it for _any_ non-business activities, you are unable to write it off. Compare to assets, where you write off the portion that you use for business. It makes it a fairly difficult writeoff to achieve for renters and people in small homes - who might be working out of their living room, kitchen, or bedroom most of the time.

Just a pet peeve of mine - it seems like it's well intentioned, but for many people who really could use it (people in small spaces starting their own business), it's not applicable. On the other hand, it can cut a nice chunk off of a big house's mortgage.

I say this as someone who has never been able to take advantage of the writeoff despite working from a small home for years.

Re: Coinbase is a decentralized company, with no headquarters

#80
post #49

Earlier quoted context omitted.

Dumb question: How is such a block even effective? What keeps you from creating a temporary wallet outside Coinbase, sending your funds there from Coinbase and then sending the funds from the wallet to the blocked address?

Nothing keeps you from doing that, but Coinbase can easily detect that after the fact, and then ban you from using their service.

What's worse is that when they ban you they refuse to talk to you. No explanation, no justification, no appeal. Just an automated reply to look at their ToS and you can never hold a coinbase account again.
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