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So almost all of the comments here are about bitcoin generally. While that’s not totally surprising, does anyone have any insight on whether or not this S1 reve

So almost all of the comments here are about bitcoin generally. While that’s not totally surprising, does anyone have any insight on whether or not this S1 reveals interesting data that might inform the public about investing in coin base (eg why they filed an S1)?

carlineng 6y ago
From "Use of Proceeds" on p78: "To the extent any registered stockholder chooses to sell shares of our Class A common stock covered by this prospectus, we will not receive any proceeds from any such sales of our Class A common stock." This is a direct listing, so I think its primarily a liquidity event for investors and employees.
- richardwhiuk 6y ago
  That's standard surely? They will be issuing new stock which they will receive sales?
  - carlineng 6y ago
    In a Direct Listing, the company does not issue new shares. This doesn't mean they can't in the future, but it's just not part of the company's initial listing on the public markets.
  - bostonsre 6y ago
    It sounds like they don't need money.
ttul 6y ago
Their growth rate is staggering, and they are enormously profitable. I was most stunned by the gross margins. They spend so little to make so much. It illustrates how feverish the crypto investing world is.
- atomicnumber3 6y ago
  I worked for a prop firm that briefly did a foray into coin trading. Coinbase's trading fees are *outrageous** compared to what we're used to in the world of normal equity/option/future/fx trading. Literally 100x+ what we're used to paying. You have to do absolutely enormous volume before they'll give you anywhere near a sane rate. I'm not surprised they're printing money.
  - baby 6y ago
    Yeah their rates are outrageous.
  - ayewo 6y ago
    > Coinbase's trading fees are outrageous compared to what we're used to in the world of normal equity/option/future/fx trading. I'm guessing their fees draw heavy inspiration from price skimming [0] (which is used heavily by AWS), as it allows them to maximize revenue while consumer demand is high in cryptocurrencies. 0: https://www.investopedia.com/terms/p/priceskimming.asp https://www.investopedia.com/terms/p/priceskimming.asp
  - gbillz 6y ago
    Or you could just go to Coinbase pro and log in with the same credentials and pay a tiny fraction of the usual fees. No setup or form to fill out. You can transact small amounts as well.
    - askmike 6y ago
      He might have been referring to the fees of coinbase pro, which also are pretty high fees (but orders of magnitude smaller than the coinbase retail app). Pretty high for crypto, insane for people coming from fx or other traditional markets.
    - smabie 6y ago
      Still egregious (and no derivs) compared to large Asian exchanges. No real trading firm wants to trade on CB right now.

carlineng 6y ago

From "Use of Proceeds" on p78: "To the extent any registered stockholder chooses to sell shares of our Class A common stock covered by this prospectus, we will not receive any proceeds from any such sales of our Class A common stock." This is a direct listing, so I think its primarily a liquidity event for investors and employees.

richardwhiuk 6y ago
That's standard surely? They will be issuing new stock which they will receive sales?
- carlineng 6y ago
  In a Direct Listing, the company does not issue new shares. This doesn't mean they can't in the future, but it's just not part of the company's initial listing on the public markets.
- bostonsre 6y ago
  It sounds like they don't need money.

ttul 6y ago

Their growth rate is staggering, and they are enormously profitable. I was most stunned by the gross margins. They spend so little to make so much. It illustrates how feverish the crypto investing world is.

atomicnumber3 6y ago
I worked for a prop firm that briefly did a foray into coin trading. Coinbase's trading fees are *outrageous** compared to what we're used to in the world of normal equity/option/future/fx trading. Literally 100x+ what we're used to paying. You have to do absolutely enormous volume before they'll give you anywhere near a sane rate. I'm not surprised they're printing money.
- baby 6y ago
  Yeah their rates are outrageous.
- ayewo 6y ago
  > Coinbase's trading fees are outrageous compared to what we're used to in the world of normal equity/option/future/fx trading. I'm guessing their fees draw heavy inspiration from price skimming [0] (which is used heavily by AWS), as it allows them to maximize revenue while consumer demand is high in cryptocurrencies. 0: https://www.investopedia.com/terms/p/priceskimming.asp https://www.investopedia.com/terms/p/priceskimming.asp
- gbillz 6y ago
  Or you could just go to Coinbase pro and log in with the same credentials and pay a tiny fraction of the usual fees. No setup or form to fill out. You can transact small amounts as well.
  - askmike 6y ago
    He might have been referring to the fees of coinbase pro, which also are pretty high fees (but orders of magnitude smaller than the coinbase retail app). Pretty high for crypto, insane for people coming from fx or other traditional markets.
  - smabie 6y ago
    Still egregious (and no derivs) compared to large Asian exchanges. No real trading firm wants to trade on CB right now.