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Coinbase seems to be the quintessential "sell shovels during a gold rush" company. Definitely provides a good case study about how to create a successful busine
by 40acres 9y ago
Coinbase seems to be the quintessential "sell shovels during a gold rush" company. Definitely provides a good case study about how to create a successful business during new industry booms.
- stephengillie 9y agoThe giant balance up top is an incredible FOMO machine. In the best findom/gamification, you can increase your "score" simply by giving them more money. The volatility makes the game more difficult to predict than most free-to-play games, but the daily graphs going up so fast make it hard to resist.
- zzxxddere333 9y agoyou mean... like most banking apps? god forbid they make obvious what most users are using the app for.
- mancerayder 9y agoMy brokerage account and bank accounts also display the balance. Sometimes at the top, sometimes in the middle. It's a UI decision, more than a FOMO game. With that mindset, capitalism itself is a FOMO and the balance at the top of your head (your net worth) the FOMO machine.
- latchkey 9y agoIn my opinion, selling the miner hardware is more like selling the shovels. Coinbase is more like the laundry service. I'm sure someone else can poke holes in this as well. =)
- lallysingh 9y agoLet's be careful when taking about any kind of laundering when discussing Bitcoin :-)
- latchkey 9y agoThe number one currency for evil purposes is and will be USD, for a very very very long time.
- Cthulhu_ 9y agoCoinbase is the one that buys and sells gold though, they don't provide the miners or (personal) wallets. Incorrect analogy. The shovel sellers are the parties that sell mining hardware, GPU's and ASICs.