Coinbase S-1

#1

Post by kacy » Thu, Feb 25, 2021, 12:40 PM UTC

Re: Coinbase S-1

#2

Post by hestefisk » Thu, Feb 25, 2021, 12:50 PM UTC

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)?

Re: Coinbase S-1

#3

Post by mlacks » Thu, Feb 25, 2021, 12:51 PM UTC

I use coinbase as it was the easiest and least sketchy way to buy a couple of years ago. I feel though that a lot of the big gains for a particular coin are made before coinbase authorizes that coin for trade on their platform. Can anyone provide some insight/ ELI5 as to why the coin selection is curated vs a free for all?

Re: Coinbase S-1

#4

Post by candiddevmike » Thu, Feb 25, 2021, 12:52 PM UTC

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)?

It's always better to sell shovels

Re: Coinbase S-1

#5

Post by brunorsini » Thu, Feb 25, 2021, 12:53 PM UTC

Does anyone please know where to find the cap table? I assume it should be public by now — am I wrong? Couldn't find it under the document's "Capitalization" section. Thanks

Re: Coinbase S-1

#6

Post by newbie578 » Thu, Feb 25, 2021, 12:53 PM UTC

I have no doubt that they have a good business model, and that they are positioned quite nicely in the market.

It's just that these valuations are getting crazy.. Everyone is already pricing in like 10+ crazy years of growth. Not everyone can grow like Facebook did...

Re: Coinbase S-1

#7

Post by mikepurvis » Thu, Feb 25, 2021, 12:53 PM UTC

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)?

Maybe, but I feel like that was always part of the point of Coinbase, providing the bridge between those worlds, and for some, bringing a sense of legitimacy and security to the proceedings. It’s not surprising they would look for a conventional exit.

Re: Coinbase S-1

#8

Post by fasicle » Thu, Feb 25, 2021, 12:54 PM UTC

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?

Re: Coinbase S-1

#9

Post by harporoeder » Thu, Feb 25, 2021, 12:54 PM UTC

Coinbase is currently trading on private markets at a 77 billion dollar valuation:

"Those shares in the largest crypto exchange in the U.S. are changing hands on the Nasdaq Private Market at $303 a piece, according to two people with knowledge of the auction. That implies a total company value of about $77 billion – greater than Intercontinental Exchange Inc., the owner of the New York Stock Exchange." (1).

It will be interesting to see how that translates to the public markets.

1. https://www.coindesk.com/coinbase-valuation-nasdaq-private-m...

Re: Coinbase S-1

#10

Post by afavour » Thu, Feb 25, 2021, 12:54 PM UTC

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)?

Ironic… or inevitable? In many ways Coinbase is that Bitcoin wasn’t supposed to be: a centralised authority that is responsible for a ton of activity on the platform. Not that it matters that much but I’d argue Coinbase wasn’t in the “spirit” of crypto currencies from the start.

(but hey, I still used it! Couldn’t be bothered to work out how to buy Bitcoin a few years ago and they made it easy)