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Coinbase S-1

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Re: Coinbase S-1

#71

Post by XorNot »

fidrelity wrote: post #63
dabeeeenster wrote: post #57

Earlier quoted context omitted.

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?!

If Satoshi is identified he might also still be alive. 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.

It's actually a lot worse then that: if anyone gets access to Satoshi's private wallets (i.e. via finding the keys printed out on paper in a personal effects safe or something) then those coins could move.

There's no way to absolutely sure that the keys are gone and inaccessible permanently.

Re: Coinbase S-1

#72

Post by snicksnak »

arnaudsm wrote: post #44

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.

coinbase offers staking rewards now if you park your crypto. They are essentially a centralized bank/exchange. Decentralized exchanges exist but access is limited, while sophisticated users can interact with e.g. uniswap, sushiswap, directly, most will rather buy their tokens on exchanges like coinbase and never leave.

Re: Coinbase S-1

#73

Post by kolinko »

rvz wrote: post #17
mensetmanusman wrote: post #12

Do you think BTC is worth $500k? If so buy Coinbase.

Before you do that, wait for the bear market and when the financial system 'goes back to normal'.

I know people that said they will get Bitcoin once it falls back to $70. They said that around $150 and they are still waiting :)

Re: Coinbase S-1

#74

Post by ignoramous »

dustinmoris wrote: post #28

I wouldn't be surprised, and by that I mean I actually believe, that organisations like Coinbase are directly manipulating the price of BTC in order to create a big hype and excitement before their IPO.

Market manipulation is nothing new but with crypto, manipulation is inevitable and unavoidable, partly due to it being born on the Internet.

In fact, the way crypto works, I can only see Coinbase' (and other companies in this space) valuation going up, because for all the hype, crypto is still in the very nascent stages of the adoption curve. A lot is left to be figured out, and that's part of the reason why skeptics and proponents disagree so vehemently. Thus far, the skeptics have been losing, and in my opinion, would continue to.

Re: Coinbase S-1

#75

Post by TedDoesntTalk »

anonu wrote: post #37

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…

> These are insane fees ripe for disruption.

No other exchange today has my trust, I don’t care if they compete on fees. When your btc is at real risk of they by an exchange, trust is everything. There is no FDIC insurance for exchanges.

Now if Chase were to do BTC exchange at better rates... i would probably switch.

Re: Coinbase S-1

#76

Post by jcfrei »

hestefisk wrote: post #2

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)?

There's just more money that you can raise if you go down the traditional IPO way. ICO tokens can be very lucrative too (check out BNB) but there's a lot more regulatory uncertainty around them. Plus fund raising is crazy at the moment on Wall Street so this makes perfect sense.

Re: Coinbase S-1

#77

Post by waheoo »

rawtxapp wrote: post #53
arnaudsm wrote: post #44

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.

It's an exchange, as soon as you're done trading, you can and should withdraw your coins to your personal wallet.

This is such a trope.

Do you pull your funds from interactive brokers after you're done trading?

What about vanguard? 401k?

Re: Coinbase S-1

#78

Post by kolinko »

fasicle wrote: post #8

Could Coinbase have done an Initial Coin Offering (ICO) to raise money for their investors and employees instead, where the coin tracks revenue or something?

They would need to invent a whole new protocol and make sure the token value somehow stays up - which is independent from how much money they earn from fees.

Re: Coinbase S-1

#79

Post by jsemrau »

dabeeeenster wrote: post #57
anonu wrote: post #37

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?!

Marc Andreesen ?

Re: Coinbase S-1

#80

Post by spurdoman77 »

waheoo wrote: post #77
rawtxapp wrote: post #53

Earlier quoted context omitted.

It's an exchange, as soon as you're done trading, you can and should withdraw your coins to your personal wallet.

This is such a trope. Do you pull your funds from interactive brokers after you're done trading? What about vanguard? 401k?

In many cases it is probably goood choice to keep the coins in custodial, but the fact that you have a possibility for self-custody is great.
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