5 ms·

Coinbase debuts on Nasdaq at 100B $ valuation

35 points by gpresot 5y ago

deleted 5y ago
[deleted]
momothereal 5y ago
Title has since changed to "Coinbase drops below debut price after hitting public market at $100 billion valuation" Edit: now it's over 100B again
cwkoss 5y ago
If Coinbase starts getting included in broad market ETFs, leading to significant holdings in mutual funds and retirement accounts, it will greatly de-risk the chance of US gov killing bitcoin: nuking grandma's investments is political suicide. I think we just witnessed a significant step in the process of bitcoin becoming too big to fail.
- PragmaticPulp 5y ago
  Even the biggest companies like AAPL make up single-digit percentages of large cap ETFs or the S&P 500 index. Even if Coinbase disappeared overnight, it would be lost in the noise of the broader market. Nothing like “nuking grandma’s investments” Also, there’s a lot of middle ground in the regulatory space before banning Bitcoin outright. The government doesn’t have to make a binary choice between free for alls and outright banning something.
  - cwkoss 5y ago
    Oh bitcoin can certainly still fall precipitously, but over the past decade of following Bitcoin, I've often told people to "invest like it could drop to zero at any moment" and that scenario seems much less possible as institutional investment in bitcoin grows. The governement could still 'kneecap' bitcoin, but 'killing' bitcoin is approaching being a political impossibility.
  - vmception 5y ago
    For now There will be a lot of crypto focused and crypto exposed organizations in the public markets over the next few years And now 1,700 Coinbase employees will be liquid and ready to pay it forward For now this is just inclusion into the “tech” sector in the public markets, but it will quickly be its own
- nikolay 5y ago
  This is the craziest bitcoin fanboys narrative to date! Coinbase has other coins, not just the scheme called "Bitcoin"!
  - anm89 5y ago
    Bitcoin has a bigger market cap than all of the rest of them combined.
    - nikolay 5y ago
      Yeah, in a low-liquidity market, this market cap is a fantasy market cap.
      - anm89 5y ago
        is bitcoin lower liquidity than the rest of them? If not I still fail to see your point.
        nikolay 5y ago
        Compare it to the Forex, for example, which has trillions of dollars per day. And those are real transactions. I'm not sure about the transactions of the foreign crypto exchanges - they've been caught so many times to fake volume and transactions.
gandalfian 5y ago
$coin https://www.nasdaq.com/market-activity/stocks/coin https://www.nasdaq.com/market-activity/stocks/coin
nikolay 5y ago
Did the people who invested in Coinbase have any idea how much $100B really is compared to well-established and profitable companies worth a fraction of this? The stock market has been a fantasy market for a while. I only wonder hong long can this nonsense continue.

35 points by gpresot 5y ago

deleted 5y ago

[deleted]

Title has since changed to "Coinbase drops below debut price after hitting public market at $100 billion valuation" Edit: now it's over 100B again

cwkoss 5y ago

If Coinbase starts getting included in broad market ETFs, leading to significant holdings in mutual funds and retirement accounts, it will greatly de-risk the chance of US gov killing bitcoin: nuking grandma's investments is political suicide. I think we just witnessed a significant step in the process of bitcoin becoming too big to fail.

PragmaticPulp 5y ago
Even the biggest companies like AAPL make up single-digit percentages of large cap ETFs or the S&P 500 index. Even if Coinbase disappeared overnight, it would be lost in the noise of the broader market. Nothing like “nuking grandma’s investments” Also, there’s a lot of middle ground in the regulatory space before banning Bitcoin outright. The government doesn’t have to make a binary choice between free for alls and outright banning something.
- cwkoss 5y ago
  Oh bitcoin can certainly still fall precipitously, but over the past decade of following Bitcoin, I've often told people to "invest like it could drop to zero at any moment" and that scenario seems much less possible as institutional investment in bitcoin grows. The governement could still 'kneecap' bitcoin, but 'killing' bitcoin is approaching being a political impossibility.
- vmception 5y ago
  For now There will be a lot of crypto focused and crypto exposed organizations in the public markets over the next few years And now 1,700 Coinbase employees will be liquid and ready to pay it forward For now this is just inclusion into the “tech” sector in the public markets, but it will quickly be its own
nikolay 5y ago
This is the craziest bitcoin fanboys narrative to date! Coinbase has other coins, not just the scheme called "Bitcoin"!
- anm89 5y ago
  Bitcoin has a bigger market cap than all of the rest of them combined.
  - nikolay 5y ago
    Yeah, in a low-liquidity market, this market cap is a fantasy market cap.
    - anm89 5y ago
      is bitcoin lower liquidity than the rest of them? If not I still fail to see your point.
      - nikolay 5y ago
        Compare it to the Forex, for example, which has trillions of dollars per day. And those are real transactions. I'm not sure about the transactions of the foreign crypto exchanges - they've been caught so many times to fake volume and transactions.

gandalfian 5y ago

$coin https://www.nasdaq.com/market-activity/stocks/coin https://www.nasdaq.com/market-activity/stocks/coin

nikolay 5y ago

Did the people who invested in Coinbase have any idea how much $100B really is compared to well-established and profitable companies worth a fraction of this? The stock market has been a fantasy market for a while. I only wonder hong long can this nonsense continue.