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Actual revenue, or just market trading volume? If the latter, $1bn sounds like a lot but actually isn’t really.

by BillinghamJ 9y ago

Kiro 9y ago
Of course it's not the latter. $1bn is like a couple of days of trading volume at GDAX alone.
ajiang 9y ago
I believe it's actual revenue
- ascar 9y ago
  Might still not be that much, if earnings through exchange rate gains were also part of their revenue. btc made what? Over 1000% in that year? If they pooled earlier in the year that are huge gains. If it's only from their 1.5% cut, it is really impressive.
  - charlesdm 9y ago
    Exchanges are literally printing money. I think nearly a million Ether a day was traded on Gdax at the top. At $1,400 you're talking $1.4bn a day in trading volume, on (at least) half of which they take a 0.3% fee. That's $2.1m a day, just from ETH. Then there's Bitcoin and Litecoin. Bitcoin probably makes a similar amount. And their "simplified" website on which they charge higher fees.
    - garmaine 9y ago
      They would be fractional if they were literally printing money.
      - annabellish 9y ago
        Right, it's Tether which is doing that, not Coinbase!
- tomasien 9y ago
  It was fee revenue
ryanwaggoner 9y ago
It's gotta be actual revenue. $1bn in market trading volume for Coinbase sounds tiny. That's only a few million per day.
- austenallred 9y ago
  Actual revenue https://www.recode.net/2018/1/22/16911692/cryptocurrency-bitcoin-trading-coinbase-revenue-secondary https://www.recode.net/2018/1/22/16911692/cryptocurrency-bit...
  - mbesto 9y ago
    > Recode has learned from industry sources First, it's unconfirmed. What exactly does "industry sources" mean? That someone who knows someone who works there said "oh ya we make a billion dollars dude". Second, it could also mean "gross revenue" in some form. I don't believe any of this stuff until someone reputable confirms some level of it. Doesn't it seem strange that they made "exactly $1b"? Not $750M, or $1.2B, or $500M, but $1B? I think the jury is still out.
    - icebraining 9y ago
      Doesn't it seem strange that they made "exactly $1b"? That would be strange, but the article doesn't say that, it says "over $1 billion".

Actual revenue, or just market trading volume? If the latter, $1bn sounds like a lot but actually isn’t really.

Kiro 9y ago

Of course it's not the latter. $1bn is like a couple of days of trading volume at GDAX alone.

ajiang 9y ago

I believe it's actual revenue

ascar 9y ago
Might still not be that much, if earnings through exchange rate gains were also part of their revenue. btc made what? Over 1000% in that year? If they pooled earlier in the year that are huge gains. If it's only from their 1.5% cut, it is really impressive.
- charlesdm 9y ago
  Exchanges are literally printing money. I think nearly a million Ether a day was traded on Gdax at the top. At $1,400 you're talking $1.4bn a day in trading volume, on (at least) half of which they take a 0.3% fee. That's $2.1m a day, just from ETH. Then there's Bitcoin and Litecoin. Bitcoin probably makes a similar amount. And their "simplified" website on which they charge higher fees.
  - garmaine 9y ago
    They would be fractional if they were literally printing money.
    - annabellish 9y ago
      Right, it's Tether which is doing that, not Coinbase!
tomasien 9y ago
It was fee revenue

ryanwaggoner 9y ago

It's gotta be actual revenue. $1bn in market trading volume for Coinbase sounds tiny. That's only a few million per day.

austenallred 9y ago
Actual revenue https://www.recode.net/2018/1/22/16911692/cryptocurrency-bitcoin-trading-coinbase-revenue-secondary https://www.recode.net/2018/1/22/16911692/cryptocurrency-bit...
- mbesto 9y ago
  > Recode has learned from industry sources First, it's unconfirmed. What exactly does "industry sources" mean? That someone who knows someone who works there said "oh ya we make a billion dollars dude". Second, it could also mean "gross revenue" in some form. I don't believe any of this stuff until someone reputable confirms some level of it. Doesn't it seem strange that they made "exactly $1b"? Not $750M, or $1.2B, or $500M, but $1B? I think the jury is still out.
  - icebraining 9y ago
    Doesn't it seem strange that they made "exactly $1b"? That would be strange, but the article doesn't say that, it says "over $1 billion".