2 ms·

Well regulation of this stuff is a kind of nightmare. Building an exchange is a nightmare - I tried once and scaling the thing is really complicated.

• kgwgk 6y ago
  It's not like coinbase has not to worry about regulation anymore. And for the technical aspect, did you spend a few billion dollars when you tried? Potential coinbase competitors may. I don't think a valuation higher than NYSE and NASDAQ combined (or CME and CBOE combined) is reasonable.
  • andy_ppp 6y ago
    They have a reasonable sized moat then no? I’ve no idea $77bn seems large, but they intend to be the world’s financial system in 10-20 years so could be worth even more.
    • kgwgk 6y ago
      > They have a reasonable sized moat then no? Do they? I'd rather own a couple of major exchanges in today's financial system for the same price. ICE net income $2.1bn market cap $63bn NDAQ net income $0.5bn market cap $23bn CME net income $2.1bn market cap $72bn CBOE net income $0.4bn market cap $11bn
      • dannyw 6y ago
        You've listed exchanges, but Coinbase is much more than just an exchange. They are also a broker, as well as bank (provision of loans), custody-provider, etc. here are some brokers... Charles Schwab (SCHW): $119.81bn Interactive Brokers (IBKR): $32.47bn
        • andy_ppp 6y ago
          I mean if they get their mission done they’ll be worth more...
      • colinmhayes 6y ago
        Coinbase's real value seems like it'll be its ability to use deposits to provide loans. Big money in banking.
        • kgwgk 6y ago
          Most banks do not have a $100bn valuation though.