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This seems silly. Is Coinbase not part of “big tech”? It’s literally a $50 billion tech company.

by dcolkitt 5y ago

luma 5y ago
Per the article, Andresseen doesn't seem to think so.
qeternity 5y ago
So far the only mass use-case for crypto has been speculation, so the only success story being Coinbase is fitting.
- colesantiago 5y ago
  > So far the only mass use-case for crypto has been speculation... so you can't send crypto to another person? i'm confused. to downvoters: When you say the mass use case, you mean everyone is using crypto to scam each other? So there is absolutely no other good usecase for crypto and we should ban it completely?
  - bradleyjg 5y ago
    So there is absolutely no other good usecase for crypto and we should ban it completely? I don’t think we should ban everything that has no valid use case. Maybe someone will come up with one eventually. For now, it’s all get rich quick all the time.
    - colesantiago 5y ago
      Well, Binance has been banned in the UK (Biggest crypto exchange in volume) so I don't see why we should stop there if the only usecase is 'scams', 'fraud' and 'ransomware'.
      - UIGYUIUYG 5y ago
        They just can't set up a specific UK exchange. UK residents can still use binance.
- aborsy 5y ago
  And fraud/scams.
WJW 5y ago
The biggest tech companies have a market cap of around 2 trillion USD, so it seem reasonable that a company with a "mere" 2.5% valuation of the big corps is not "big tech" TBH. This says more about how humongous FAANG is than about the size of coinbase though.
luma 5y ago
It's telling that the single example anyone can think of is an exchange, essentially the casino where currency speculation is played out.
jla7 5y ago
CoinBase isn't going anywhere and it's board isn't politically connected left nor right. You can tell that big-tech is investing via coinbase by blockchain analysis and thus making it's value rise overall. Coinbase being used for large whale wallet sizes of these firms bloats its value. As long as the firms do not dump their BTC coinbase won't have any issue. Also consider the transaction fees it charges for every btc trade. They're going to be around for awhile.

This seems silly. Is Coinbase not part of “big tech”? It’s literally a $50 billion tech company.

luma 5y ago

Per the article, Andresseen doesn't seem to think so.

qeternity 5y ago

So far the only mass use-case for crypto has been speculation, so the only success story being Coinbase is fitting.

colesantiago 5y ago
> So far the only mass use-case for crypto has been speculation... so you can't send crypto to another person? i'm confused. to downvoters: When you say the mass use case, you mean everyone is using crypto to scam each other? So there is absolutely no other good usecase for crypto and we should ban it completely?
- bradleyjg 5y ago
  So there is absolutely no other good usecase for crypto and we should ban it completely? I don’t think we should ban everything that has no valid use case. Maybe someone will come up with one eventually. For now, it’s all get rich quick all the time.
  - colesantiago 5y ago
    Well, Binance has been banned in the UK (Biggest crypto exchange in volume) so I don't see why we should stop there if the only usecase is 'scams', 'fraud' and 'ransomware'.
    - UIGYUIUYG 5y ago
      They just can't set up a specific UK exchange. UK residents can still use binance.
aborsy 5y ago
And fraud/scams.

WJW 5y ago

The biggest tech companies have a market cap of around 2 trillion USD, so it seem reasonable that a company with a "mere" 2.5% valuation of the big corps is not "big tech" TBH. This says more about how humongous FAANG is than about the size of coinbase though.

luma 5y ago

It's telling that the single example anyone can think of is an exchange, essentially the casino where currency speculation is played out.

jla7 5y ago

CoinBase isn't going anywhere and it's board isn't politically connected left nor right. You can tell that big-tech is investing via coinbase by blockchain analysis and thus making it's value rise overall. Coinbase being used for large whale wallet sizes of these firms bloats its value. As long as the firms do not dump their BTC coinbase won't have any issue. Also consider the transaction fees it charges for every btc trade. They're going to be around for awhile.