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Coinbase Announces Listing Date of Its Stock on the Nasdaq

blog.coinbase.com

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Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#91

Post by wfleming »

woobar wrote: post #70
rodonn wrote: post #54

Earlier quoted context omitted.

Unfortunately under US accounting rules you have to do it this way in your financial filings.

But bigger brokers (in fact, much more than just brokers) like Merrill ($18B) or Schwab($10B) do not report their transaction volume as revenue.

I'm having trouble finding a good citation, but I think the GP is referring to a quirk of US accounting rules that causes crypto trades specifically to be counted as revenue. The same does not apply to traditional financial market trades, which I think is what your numbers are.

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#92

Post by fredfoobar »

CamelCaseName wrote: post #47
fredfoobar wrote: post #31

Earlier quoted context omitted.

The reason is the SEC. Look into stokr.io.

There's a reason access to capital markets is somewhat restricted. Investors are going to get fleeced. I only wish the SEC (or the European authority) had more bite, as stokr absolutely deserves to be shut down.

Why?

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#93

Post by skybrian »

woobar wrote: post #70
rodonn wrote: post #54

Earlier quoted context omitted.

Unfortunately under US accounting rules you have to do it this way in your financial filings.

But bigger brokers (in fact, much more than just brokers) like Merrill ($18B) or Schwab($10B) do not report their transaction volume as revenue.

Weirdly, it seems there are no GAAP accounting rules for cryptocurrencies yet. Apparently there is informal guidance that it should be treated as an intangible asset:

https://news.bloombergtax.com/financial-accounting/tesla-bit...

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#94

Post by PascLeRasc »

pdog wrote: post #89
superfrank wrote: post #17

There was a time when would have loved to buy Coinbase stock. Just a few years ago, they were by far the easiest was to buy crypto (IMO). At that time they also felt like the most legitimate site and for people who didn't 100% know what they were doing, but wanted to buy some Bitcoin, that perception of legitimacy is important. For those reasons, I feel like they kind of dominated the casual coin holder space, and I…

> Because of things like Apex Crypto, it feels like pretty much every stock broker app will now let you buy Bitcoin and they'll do it with lower fees than Coinbase. Which stock broker app lets you deposit in Bitcoin? Or withdraw your Bitcoin to your own address?

Cash App does, but that's the only one I'm aware of.

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#95

Post by AlchemistCamp »

rawtxapp wrote: post #26
superfrank wrote: post #17

There was a time when would have loved to buy Coinbase stock. Just a few years ago, they were by far the easiest was to buy crypto (IMO). At that time they also felt like the most legitimate site and for people who didn't 100% know what they were doing, but wanted to buy some Bitcoin, that perception of legitimacy is important. For those reasons, I feel like they kind of dominated the casual coin holder space, and I…

I agree with you, I think their coinbase pro fees are relatively reasonable, but I just don't see why anyone would use the "normal" coinbase, the fees are very high, I suspect it's probably name recognition, ease of use and trust.

Are there different requirements for Coinbase Pro that many users of the "normal" service wouldn't qualify for?

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#96

Post by mths »

qbasic_forever wrote: post #36

Honest question, why is Coinbase listing on the NASDAQ (edit: tangentially also NYSE)? If their whole business model is predicated on the success of crypto-currency shouldn't the whole world of fiat currency be completely irrelevant and a distraction?

> If their whole business model is predicated on the success of crypto-currency shouldn't the whole world of fiat currency be completely irrelevant and a distraction?

I'm not following this line of logic, where are you getting this from? Why would the success of crypto-currency imply the demise of fiat, if that's what you're saying? Or why would you have no interest in fiat just because crypto-currency turns successful?

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#97

Post by zz865 »

qbasic_forever wrote: post #36

Honest question, why is Coinbase listing on the NASDAQ (edit: tangentially also NYSE)? If their whole business model is predicated on the success of crypto-currency shouldn't the whole world of fiat currency be completely irrelevant and a distraction?

Stocks just want to be traded, Coinbase is just getting ready for when Nasdaq will quote in BTC. ;-)

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#98

Post by rawtxapp »

AlchemistCamp wrote: post #95
rawtxapp wrote: post #26

Earlier quoted context omitted.

I agree with you, I think their coinbase pro fees are relatively reasonable, but I just don't see why anyone would use the "normal" coinbase, the fees are very high, I suspect it's probably name recognition, ease of use and trust.

Are there different requirements for Coinbase Pro that many users of the "normal" service wouldn't qualify for?

Nope, you can just use your existing coinbase account to login to it, it's just more "advanced" as in the UI isn't just a buy and sell button, but still very easy to use.

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#99

Post by realdlee »

AlchemistCamp wrote: post #95
rawtxapp wrote: post #26

Earlier quoted context omitted.

I agree with you, I think their coinbase pro fees are relatively reasonable, but I just don't see why anyone would use the "normal" coinbase, the fees are very high, I suspect it's probably name recognition, ease of use and trust.

Are there different requirements for Coinbase Pro that many users of the "normal" service wouldn't qualify for?

No, it's pretty straightforward. If you're on Coinbase, you should switch to Coinbase Pro for the lower fees.

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#100

Post by Alupis »

superfrank wrote: post #17

There was a time when would have loved to buy Coinbase stock. Just a few years ago, they were by far the easiest was to buy crypto (IMO). At that time they also felt like the most legitimate site and for people who didn't 100% know what they were doing, but wanted to buy some Bitcoin, that perception of legitimacy is important. For those reasons, I feel like they kind of dominated the casual coin holder space, and I…

> it feels like pretty much every stock broker app will now let you buy Bitcoin and they'll do it with lower fees than Coinbase

Coinbase even undercuts themselves. Use the Coinbase App - 2.5% fee. Use the Coinbase Exchange App (Coinbase Pro) - 0.5% Fee.

So... buy your Bitcoin (and others) through the Coinbase Pro website/app, then transfer them into your Coinbase wallet/vault for free.

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