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Started By
Message
re: Coinbase (COIN) IPO Discussion - Happening 4/14
Posted on 4/14/21 at 3:12 pm to rocket31
Posted on 4/14/21 at 3:12 pm to rocket31
quote:
you can do this with pretty much all tech stocks and then you're like wait a minute...
Alternatively, you can come to the conclusion BTC is incredibly overvalued. Simply depends on how you view it.
1
Posted on 4/14/21 at 3:13 pm to rocket31
But don't they make money by charging a percentage of the value of each transaction? So if those crypto values go up, they make more per transaction. They go down, they make less. To me that means "inextricably linked". Now, admittedly, if they grow their user base and the number of transactions they could still grow rev with declining crypto values. Just would make that exponential growth that this valuation assumes much tougher.
This post was edited on 4/14/21 at 3:15 pm
Posted on 4/14/21 at 3:16 pm to slackster
quote:
you can come to the conclusion BTC is incredibly overvalued. Simply depends on how you view it.
bitcoin is a reaction to global monetary demand that is just emerging.. if you think it's overvalued, you simply do not understand it
you make similar comments like this every few months and then look like a clown
what market cap will it take for you to capitulate and admit you're wrong?
Posted on 4/14/21 at 3:19 pm to Chucktown_Badger
idk what to tell you. one is controlled by Brian armstrong who can do whatever he wants with the shares whenever he deems necessary
bitcoin is finite, and it trades 24/7. it's just not comparable.
like I said there are thousands of cryptos out there and most are worthless, I'm not sure when the market will reach a similar conclusion but it's bound to happen eventually
bitcoin is finite, and it trades 24/7. it's just not comparable.
like I said there are thousands of cryptos out there and most are worthless, I'm not sure when the market will reach a similar conclusion but it's bound to happen eventually
Posted on 4/14/21 at 3:19 pm to rocket31
quote:
and voyager is not correlated to crypto and it's been trading for months
As these companies and/or crypto mature you’d expect their values to have some correlation, particularly on the downside. I can see a case for cryptos going up but COIN coming down, but I have a difficult time seeing crypto crash and COIN hold up.
Posted on 4/14/21 at 3:20 pm to rocket31
I'm not arguing the relevance of crytpos, I'm just saying that the company and its revenues are tied to crypto values given how Coinbase makes its money. You had said they weren't correlated. I'm disagreeing is all.
Posted on 4/14/21 at 3:21 pm to rocket31
quote:
bitcoin is a reaction to global monetary demand that is just emerging.. if you think it's overvalued, you simply do not understand it
I wasn’t commenting on whether or not it’s overvalued, I was simply stating the argument goes both ways depending on your perspective.
Posted on 4/14/21 at 3:22 pm to Chucktown_Badger
quote:that's speculation and seems unlikely but neither of us can draw any conclusions after a half day of trading
I'm just saying that the company and its revenues are tied to crypto values given how Coinbase makes its money. You had said they weren't correlated
Posted on 4/14/21 at 3:23 pm to rocket31
quote:
what market cap will it take for you to capitulate and admit you're wrong?
Avoiding a 50%+ correction would do it.
Posted on 4/14/21 at 3:25 pm to slackster
that's fair
Posted on 4/14/21 at 3:27 pm to rocket31
quote:
that's fair
Good. I think so too. 50% correction from any price in an 18 month span would clearly suggest it is not a response to global monetary policy. It has to shake that volatility to prove anything about a true store of wealthy IMO.
Posted on 4/14/21 at 3:29 pm to rocket31
quote:
that's speculation and seems unlikely but neither of us can draw any conclusions after a half day of trading
So they don't make money by charging a percentage of the value of the trade amount? My understanding was that that's what they do. Same for coins that are lent out.
This post was edited on 4/14/21 at 3:29 pm
Posted on 4/14/21 at 3:30 pm to slackster
I'm not saying I agree with your conclusions but knowing how you operate I'll still say "fair" 
it's emerging asset that's only 12 years old. as a metaphor, were you "volatile" during your first 12 years of your life?
it's emerging asset that's only 12 years old. as a metaphor, were you "volatile" during your first 12 years of your life?
Posted on 4/14/21 at 3:31 pm to Chucktown_Badger
quote:
So they don't make money by charging a percentage of the value of the trade amount?
yes they do but like I said it could crash the volume of trading could still be high
I think a better correlation would be if they held a lot of bitcoin on their balance sheet like microstrategy
Posted on 4/14/21 at 3:33 pm to rocket31
Y’all buying tmr at this current price? 10 bagger from here?
Posted on 4/14/21 at 3:34 pm to Chucktown_Badger
quote:Are they? I would have thought their revenues would be tied to the amount of transactions made and money stored on their exchange. Price of individuals coins being irrelevant.
But when their revenues are directly tied to the value of the individual cryptos
Posted on 4/14/21 at 3:36 pm to rocket31
quote:
it's emerging asset that's only 12 years old. as a metaphor, were you "volatile" during your first 12 years of your life?
, sure, but no one expected me to have a market cap bigger than the entire global equity and debt markets combined by the time I was 21 either. 
Posted on 4/14/21 at 3:37 pm to Chucktown_Badger
quote:
So they don't make money by charging a percentage of the value of the trade amount?
No, that’s actually exactly what they do. This company will continue to grow at an insane rate until competition steps up and forces lower transaction fees.
Posted on 4/14/21 at 3:37 pm to TigerTatorTots
quote:
Price of individuals coins being irrelevant.
The price of coins is what help drives interest though. Volatility also helps for the exchanges.
Posted on 4/14/21 at 3:38 pm to slackster
quote:no one expected lebron james to surpass Michael Jordan either but some of us can see potential in young things when they exist
sure, but no one expected me to have a market cap bigger than the entire global equity and debt markets combined by the time I was 21 either.
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