COIN is at $122 with P/E ~8.5. Crypto trading isn’t going away and with good potential in every aspect of finance including e-commerce and even retail. Coinbase hires top talent, its reputation for toxic work culture isn’t a problem for investors because it means the company can remain competitive by working everyone and rewarding high performers. Yes, they can have bad quarters but crypto’s been trending upwards and Coinbase in particular doesn’t need expensive coins but consistent increase in market adoption which is already happening even in Europe. Can anyone educate me on why would anyone be bearish on COIN? Disclaimer: I have some COIN and planning to buy more
Tight monetary policy means it is difficult to have free money to trade. Of all things bitcoins
Sure but in the short term. The global gdp has $85T and while crypto’s had its ups and downs, it’s been consistently trending up in how big of a slice it’s getting.
Lot of competition in the space. Binance has better offerings than Coinbase at the moment.
I use Binance for my own rare trading but I see Coinbase turning into the “PayPal of crypto”. Binance is going to remain an exchange.
What value do shitcoins really have? What if people lost interest and they went to 0
Does it matter to Coinbase? They’re not attached to any shitcoins in particular
They make money off the transaction of shitcoins. So it doesn't matter if they fail. As long as people are trading them.
There is literally nothing special about Coinbase. Any other company could pull users away from them easily with nothing but better marketing. They have no moat, no network effect, nothing to give users a reason to stay or new users to join them instead of a competitor.
They have 90 million verified users. Remember Google+? Facebook didn’t have an edge over Google as a tech company. If your point is they can lose their lead in 10-15 years, then that’s fair but it still makes coin undervalued today.
Essentially same argument against robinhood, which I agree with. End of the day they’re in a highly commoditized space, and they’re dependent on convincing people to constantly trade, which doesn’t seem to necessarily be in the customers best interest. At the end of the day it seems like a risky company to join, especially with an impending recession. Also, I’d be worried about regulations coming in and really handcuffing the company.
Crypto is in bear market due to rate increase.
Long bear stance: as KYC & DeFi get better, ppl move away more and more from a massive centralized player and embrace holding their funds or custody it elsewhere. Innovation happens on fringes and CB is slow to keep up / can’t. Evidence of slowness: Coinbase missed on NFTs and Opensea didn’t. Evidence of innovation in fringes: Cosmos, Uniswap
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Regulation is the biggest threat to its existence!
But we don’t hear about bans anymore. Regulation means government approval it isn’t necessarily a bad thing?
We are at the mercy of people in power! Depends on who is in power things can turn ugly real quick.