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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?
Still, the option to do so is very important and valuable.
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.
I thought that the point of crypto is low fees? Nice that crypto has a $~1T market cap. But just one broker is going to have a market cap of one tenth of that. Makes no sense.
Especially given that this one exchange itself has only 11% of the top exchange's volume[0].
On the other hand, it's not as easy for institutional money to get into crypto directly as it is to buy Coinbase stock. Additionally, Coinbase is (likely) a less volatile investment in the future of the whole crypto market rather than picking specific winners.
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?!
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.
> We have forgotten why we used cryptocurrencies in the first place. The original promise of cryptocurrency was to become independent from banks. Lots of things evolve and change and their original intent is twisted. It’s ok. Life goes on.
Maybe, but that doesn't mean that a technology is still useful after it's lost its unique selling proposition.
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. 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.
Coinbase is a stain in cryptocurrency's history and will be remembered as that in the future. It still has a chance to change and help, but for now its against everything bitcoin stands for.
It all started with good intentions, but those seem to be gone now.