Does Coinbase have a future? Is it's $12B valuation justified? #crypto #coinbase
Nes
Consider crypto companies only for seasonal job
Have you heard of bed bath beyond . Coinbase will be same in future.
Yes but still too high in valuation. 1.17B-> 800M->576M in revenue. Negative EPS. Let alone EBITDA, how do you justify valuation being 6x of revenue?
No future because crypto is pointless and so is blockchain tech in the business context (centralized). Does anyone else hoard real currency and hope it appreciates? No because that’s fucking retarded. Pure speculation. Store of value? When it takes multiple countries worth of energy to maintain, nah that’s fucking retarded too and will have a target on its back that grows by the year.
Yes, my relatives in a different country hold USD and dont spend it. Wont list the country bc dont wanna expose myself. I think theres a huge bias for Americans like me, and maybe you, that we have a highly developed financial system with plenty of tools and ways to transact. So we dont see the need for anything else. It’s 2023 and my relatives still ask for USD in PAPER when any of us visit them. I can’t convince them otherwise bc I can’t speak our language to that technical degree, I could only explain it in the English language. Agree with your point that BTC is speculation at the minimum.
Until fiat came along in the 1970’s (and even more so pre-1913 before the Fed) store of value was a primary function of money. The idea that people won’t spend a money that increases in purchasing power is Keynesian economic nonsense. If you need to buy a car to get to work, you’re still going to buy the car to get to work. However, what a disinflationary money will do is make people think twice about their discretionary spending and how much they actually value the thing they are thinking about buying. Reducing the effects of consumerism is a good thing, not a bad thing. As for why people would choose to hoard bitcoin compared to dollars today, well that’s quite simply explained by Gresham’s Law which states that bad money drives out good money. What this means is that in the presence of two moneys, consumers are more likely to spend the bad money and hold the good one. If I expect the dollar to be worth less in 5 years and bitcoin to be worth more, I’m going to be more likely to spend the dollars and hold the bitcoin. Under this framework, things will begin to change once merchants start incentivizing (or even demanding) payment in bitcoin. This is also how gold monetized many centuries ago.
All Ponzi scams end the same way. Yes that includes YOUR Ponzi scam too.
the company is imploding from inside due to the horrible exec team
Truly, the GC clout chasing on LinkedIn about airplane WiFi the week the government announced a 100 million dollar fine for lack of legal compliance was chef’s kiss. And then for him to write in a blog they were legacy and historical issues. Bruh, it happened RECENTLY AND ON YOUR WATCH.
Sadly he’s one of the better ones
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Yes, no
What kind of future?