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Coinbase is filing to IPO in 2021

7,636 Views | 63 Replies | Last: 2 yr ago by azul_rain
AggiEE
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ac04 said:

they invented a provably finite asset whose decreasing issuance schedule and total supply cannot be changed. it caught on and the demand is growing exponentially thanks to metcalfe's law. you can call it whatever you like.


Artificial scarcity

Awesome

I must plow money into it because it's scarce
ac04
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consider trading your skepticism and condescension for some humility and intellectual curiosity. good luck.
TxAG#2011
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AggiEE said:

ac04 said:

they invented a provably finite asset whose decreasing issuance schedule and total supply cannot be changed. it caught on and the demand is growing exponentially thanks to metcalfe's law. you can call it whatever you like.


Artificial scarcity

Awesome

I must plow money into it because it's scarce
Mad about Tesla. Mad about Bitcoin.

Mad people are making life changing money on investments you disagree with.

Absolutely ****ing miserable aren't you.
AggiEE
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ac04 said:

consider trading your skepticism and condescension for some humility and intellectual curiosity. good luck.


Do whatever you want to do. I personally don't buy things just because they are scarce and have a history of going up in price due to the mania of crowds. There needs to be utility and value, which I see for blockchain technology, but I don't see for tokens or coins, or the exchanges that transact in them.
AggiEE
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TxAG#2011 said:

AggiEE said:

ac04 said:

they invented a provably finite asset whose decreasing issuance schedule and total supply cannot be changed. it caught on and the demand is growing exponentially thanks to metcalfe's law. you can call it whatever you like.


Artificial scarcity

Awesome

I must plow money into it because it's scarce
Mad about Tesla. Mad about Bitcoin.

Mad people are making life changing money on investments you disagree with.

Absolutely ****ing miserable aren't you.


You're the one that sounds miserable and upset. I'm just offering perspective. Feel free to disagree.

I've already made life changing money and would rather not lose it.

You can also make life changing money in Vegas, it would probably be a lot more fun than yolo'ing through whatever get rich scheme is the new fad of the day, with about the same long term odds.
ac04
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just realized you are the guy who can't figure out if he owns tesla or not. good news, because you own tesla in an index and they carry bitcoin as a treasury reserve asset, you indirectly own bitcoin as well.
AggiEE
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ac04 said:

just realized you are the guy who can't figure out if he owns tesla or not. good news, because you own tesla in an index and they carry bitcoin as a treasury reserve asset, you indirectly own bitcoin as well.


Yep, if both go to zero I will sleep just fine at night.
HelloUncleNateFitch
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If you lost it, wouldn't it also be considered life changing money?
AggiEE
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UncleNateFitch said:

If you lost it, wouldn't it also be considered life changing money?


Well if I had huge stakes in crypto/tsla, that could be a very real possibility
Decay
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AG
Decay said:

So the question is, is there a market?

If you're into crypto, will you buy "old fashioned" stock?
If you're a stock trader, is there any incentive to buying into a crypto company, especially if they don't even trade crypto?

I feel like the answer is yes, but I guess this will tell us for sure.
Quoting myself here because I rarely have a chance to ask a direct question and have the future come and tell me what happened.

Reference price was $250/share, 114.9 million shares for the filing. Market cap the next day: $88-65 Billion (I'm seeing conflicting reports), $330/share.

That's pretty solid. However compare to global crypto market cap - $2230 Billion.

I don't think the Coinbase Equity took much away from Crypto itself, nor did it particularly boost it. Looks like business as usual, 2% or so daily growth. I do think this ticker got some people exposure to crypto who wouldn't otherwise (or even in others like crypto mining or coin derivatives).
Definitely Not A Cop
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AG
AggiEE said:

Decay said:

AggiEE said:

FunkyKO said:

in

Only problem with the tech bubble comparison. Coinbase balance sheet looks very good. Ebitda llooks solid. Currently a double over last year which was a double over the year prior.

They do list 27 risks to the company, so it's not like they aren't aware of them

Not a prediction on price movement /market cap potential. Just saying their balance sheet looks pretty solid


The problem is it's anchored to a fugazi
BTC is worth more than the British Pound


Okay. Speculative manias happen, it doesn't disprove my point


If are the one saying it's speculative mania, it's on you to prove it.
AggiEE
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Champ Bailey said:

AggiEE said:

Decay said:

AggiEE said:

FunkyKO said:

in

Only problem with the tech bubble comparison. Coinbase balance sheet looks very good. Ebitda llooks solid. Currently a double over last year which was a double over the year prior.

They do list 27 risks to the company, so it's not like they aren't aware of them

Not a prediction on price movement /market cap potential. Just saying their balance sheet looks pretty solid


The problem is it's anchored to a fugazi
BTC is worth more than the British Pound


Okay. Speculative manias happen, it doesn't disprove my point


If are the one saying it's speculative mania, it's on you to prove it.


People buying something they don't actually use just because the price has gone up. Speculation 101.
ac04
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you getting a lot of use out of those stock indexes you own?
AggiEE
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ac04 said:

you getting a lot of use out of those stock indexes you own?


Yes, capital gains and dividends based upon corporate earnings of well established companies that produce products and are able to compete and reinvest some of those earnings to grow the company, produce new products, and improve efficiencies leading to compounded growth.
ac04
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right, i understand what a stock is. you're hoping all that leads to increased value for you. but you personally are not actually doing anything with the indexes themselves. you log in to your account and see what the number is. it's still speculation, just with a different asset.
administrative errors
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So incentivizing mining via fees, coding development and innovation, ecosystem developmentand innovation, and enabling global censorship resistant commerce without "trusted" third parties or oversight or permission from anyone is speculating.

I guess.
***
Coming soon:
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Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
AggiEE
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ac04 said:

right, i understand what a stock is. you're hoping all that leads to increased value for you. but you personally are not actually doing anything with the indexes themselves. you log in to your account and see what the number is. it's still speculation, just with a different asset.

No, it's called investing.

https://www.businessinsider.com/warren-buffett-investors-versus-sepculators-2016-3

Quote:

As Buffett said:

And I say, the real test of how you what you're doing is whether you care whether the markets are open.
When I buy a stock, I don't care if they close the stock market tomorrow for a couple of years because I'm looking to the business Coca-Cola, or whatever it may be to produce returns for me in the future from the business.

Now, if I care if whether the stock market is soap tomorrow, then to some extent I'm speculating because I'm thinking about whether the price is going to go up tomorrow or not. I don't know whether the price is going to go up.

The FCIC also asked Buffett how he would define the "speculation." Buffett had an interesting answer there, too.
"It's a tricky definition," he told the FCIC. "You know, it's like pornography, and that famous quote on that."
Regarding whether something was pornographic, Supreme Court Justice Potter Stewart wrote, "I know it when I see it."

"Speculation, I would define as much more focused on the price action of the stock, particularly that you, or the index future, or something of the sort," Buffett continued.

"Because you are not really you are counting on for whatever factors, because you think quarterly earnings are going to be up or it's going to split, or whatever it may be, or increase the dividend but you are not looking to the asset itself."


administrative errors
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HODLing = good
Trading = speculation

I dont disagree.

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*Psychedelic Retreats
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Step 3: property found

Step 4: set date

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Step 6: long-term planning

I am amped.
AggiEE
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administrative errors said:

So incentivizing mining via fees, coding development and innovation, ecosystem developmentand innovation, and enabling global censorship resistant commerce without "trusted" third parties or oversight or permission from anyone is speculating.

I guess.

Mining is largely a waste of energy and chip resources. I also never said Blockchain didn't have value or wasn't innovative. But just because there's a technology doesn't mean there's an underlying business embedded into Coins themselves. And I'm sure there are or will be companies in the DeFi space that do go on to become legitimate businesses through innovating in blockchain. But it will because there is a business case that can minimize transaction fees and provide more transparency, not because people are speculating on "assets' with no real utility like most coins.

The bull case for Coinbase certainly would argue more of the latter, but obviously it's very early days.
ac04
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so if you're concerned with capital gains and dividends you are just speculating? you're playing games with semantics. all investing is speculating whether you understand that or not.
Definitely Not A Cop
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AG
AggiEE said:

administrative errors said:

So incentivizing mining via fees, coding development and innovation, ecosystem developmentand innovation, and enabling global censorship resistant commerce without "trusted" third parties or oversight or permission from anyone is speculating.

I guess.

Mining is largely a waste of energy and chip resources. I also never said Blockchain didn't have value or wasn't innovative. But just because there's a technology doesn't mean there's an underlying business embedded into Coins themselves. And I'm sure there are or will be companies in the DeFi space that do go on to become legitimate businesses through innovating in blockchain. But it will because there is a business case that can minimize transaction fees and provide more transparency, not because people are speculating on "assets' with no real utility like most coins.

The bull case for Coinbase certainly would argue more of the latter, but obviously it's very early days.


I mean, there literally is an underlying business to block chain. It's called crypto currency mining. And there are already cryptos that perform the functions you mention. You just don't like it, and you don't seem to really understand it.
SMM48
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AG

SMM48
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AG

administrative errors
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AggiEE said:

administrative errors said:

So incentivizing mining via fees, coding development and innovation, ecosystem developmentand innovation, and enabling global censorship resistant commerce without "trusted" third parties or oversight or permission from anyone is speculating.

I guess.

Mining is largely a waste of energy and chip resources. I also never said Blockchain didn't have value or wasn't innovative. But just because there's a technology doesn't mean there's an underlying business embedded into Coins themselves. And I'm sure there are or will be companies in the DeFi space that do go on to become legitimate businesses through innovating in blockchain. But it will because there is a business case that can minimize transaction fees and provide more transparency, not because people are speculating on "assets' with no real utility like most coins.

The bull case for Coinbase certainly would argue more of the latter, but obviously it's very early days.




"I only focus on real stuff"
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Coming soon:
AE Ventures - sooner than soon
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*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
AggieIce
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AG
Ouch
AggiEE
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Champ Bailey said:

AggiEE said:

administrative errors said:

So incentivizing mining via fees, coding development and innovation, ecosystem developmentand innovation, and enabling global censorship resistant commerce without "trusted" third parties or oversight or permission from anyone is speculating.

I guess.

Mining is largely a waste of energy and chip resources. I also never said Blockchain didn't have value or wasn't innovative. But just because there's a technology doesn't mean there's an underlying business embedded into Coins themselves. And I'm sure there are or will be companies in the DeFi space that do go on to become legitimate businesses through innovating in blockchain. But it will because there is a business case that can minimize transaction fees and provide more transparency, not because people are speculating on "assets' with no real utility like most coins.

The bull case for Coinbase certainly would argue more of the latter, but obviously it's very early days.


I mean, there literally is an underlying business to block chain. It's called crypto currency mining. And there are already cryptos that perform the functions you mention. You just don't like it, and you don't seem to really understand it.

There are also businesses that harvest tulips or make beanie babies, I'm not particularly interested with investing directly into them. The vast majority of crypto coins are just pump and dump, greater fool plays - i.e., pure speculation.

Some companies in this space will be winners, it may not be obvious who until retrospect. I will own those businesses through the funds I invest them, which will represent a small portion of my allocation. The vast majority of the 'crypto plays' will be completely worthless like many of the tech stocks in the early 00s.

It's not that I don't like them. I also don't invest in gold, NFTs, or commodities because I don't agree with the long-term investment thesis. I'm not shaming anyone for disagreeing with me, just offering my perspective which is mirrored by some of the greatest investors of our time.
ac04
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on second thought, nevermind. this isn't productive at all.
administrative errors
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Mirrored fantastic investors [historically as in the past].

Everyone hits a peak.
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Madmarttigan
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AG
Options start tomorrow FYI
azul_rain
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should i throw another grand at this puppy boys ?
you may all go to hell and i will go to Texas
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