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He's betting on prices going down at the end of the current 4-year Bitcoin cycle, which they historically have done. This is just trying to guess when it'll hap
by surfingdino 5y ago
He's betting on prices going down at the end of the current 4-year Bitcoin cycle, which they historically have done. This is just trying to guess when it'll happen.
Betting against Coinbase, an exchange, is a bit foolish as exchanges make money every time there is a trade, up or down. Their income is unaffected by market crashes, may even go up.
That detailed dig into the past of MicroStrategy is interesting... but I don't know how it applies to today. It has a whiff of a personal grudge and the comment about laser eyeballs reminds me of people complaining about the "Beta" label and the pastel colours of the early Web 2.0 websites.
Don't know why this blog post is important, tbh. But it shows that the crypto craze is in full swing when technologists start writing publicly about their investments.
- ffggvv 5y agoactually coinbase’s revenue tracks pretty well to bitcoins price. as when the price crashes people lose interest in it and volume goes way down. this is basically what happened between the end of the last bull market and the start of this one and the same is true for robinhood with stocks. bull market attracts more investors trying to get rich and drives volume. in turn when it crashes the volume dries up as retail loses interest
- surfingdino 5y agoI am not surprised to learn that, but I will still maintain that exchanges are fairly immune to the fate of the securities/commodites/assests traded on them. Crypto today is a more complex, evolved sphere than four years ago and most of the value is not in the price of this or other coin/token but in the smart contracts. Which is something that Bitcoin does not have, but for some reason people see it as a valuable asset.