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Even at a $16B market cap this company's valuation makes no sense.

sometimeshuman 4y ago
Are you implying that it's still over valued ? They are profitable with a PE ratio of barely 5X. Even if their users want to sell their crypto they'll make money on the transaction of the sale. It seems like this stock is a bargain assuming it isn't going to keep getting dragged down by the broader market sell-off. Can someone with a different opinion elaborate ?
- pavlov 4y ago
  Profitable? They lost $430 million last quarter. And that was before April’s bloodbath.
  - whitepaint 4y ago
    They made $3.62B last year with ridiculous profit margin of 50%. They have $7B in cash. They are the future. They'll be fine. Your myopic hatred towards crypto is hilarious to me. Go use some defi protocols, you'll be amazed.
    - pavlov 4y ago
      I've used this stuff five years ago: installed Metamask, ran an Ethereum node, tried some mining, wrote some Solidity, and came away with the impression that it's 99.9% total bullshit, can never deliver on its wild promises, and I'd wasted my time. I haven't seen anything since to change my opinion.
    - mupuff1234 4y ago
      The future of what? Gambling?
      - whitepaint 4y ago
        Go install metamask and play around with some defi protocols. You'll see it yourself.
        gmm1990 4y ago
        haha that would be bypassing coinbase
        whitepaint 4y ago
        You should be able to connect dots.
daniel-cussen 4y ago
I can...defend that under the following grounds. I speculated most of the ride up of bitcoin, bought roughly the trough, sold at roughly the peak. 42% appreciation in 42 days, rode 90% of the upward cycle. So the reason I went with coinbase was because there's a concern which has priority over just getting your speculation right, which is property rights. Coinbase gives you that. These guys made like $120, I think, of my purchase and sale, really fat margins, but that's fine because I made three times that on the speculation, and I knew their security was the best. The fees were excessive but not impactful compared to the fact of strong property rights, over something that can be stolen in a millisecond. So they can make profits, they're capable of that. They just need the crypto markets to be really volatile, and big winners, and big losers[1]. I guess set it up like a casino, but again, you just gotta be right. [1] I wonder if anybody does this, deliberately bets on something they know will go down, goes long that is, not short, on something that will fall. Stock market masochism, similar to what people think is tributary masochism on my part, just my paying additional taxes "for no reason" ie gratitude.

Are you implying that it's still over valued ? They are profitable with a PE ratio of barely 5X. Even if their users want to sell their crypto they'll make money on the transaction of the sale. It seems like this stock is a bargain assuming it isn't going to keep getting dragged down by the broader market sell-off. Can someone with a different opinion elaborate ?

pavlov 4y ago
Profitable? They lost $430 million last quarter. And that was before April’s bloodbath.
- whitepaint 4y ago
  They made $3.62B last year with ridiculous profit margin of 50%. They have $7B in cash. They are the future. They'll be fine. Your myopic hatred towards crypto is hilarious to me. Go use some defi protocols, you'll be amazed.
  - pavlov 4y ago
    I've used this stuff five years ago: installed Metamask, ran an Ethereum node, tried some mining, wrote some Solidity, and came away with the impression that it's 99.9% total bullshit, can never deliver on its wild promises, and I'd wasted my time. I haven't seen anything since to change my opinion.
  - mupuff1234 4y ago
    The future of what? Gambling?
    - whitepaint 4y ago
      Go install metamask and play around with some defi protocols. You'll see it yourself.
      - gmm1990 4y ago
        haha that would be bypassing coinbase
        whitepaint 4y ago
        You should be able to connect dots.

daniel-cussen 4y ago

I can...defend that under the following grounds. I speculated most of the ride up of bitcoin, bought roughly the trough, sold at roughly the peak. 42% appreciation in 42 days, rode 90% of the upward cycle. So the reason I went with coinbase was because there's a concern which has priority over just getting your speculation right, which is property rights. Coinbase gives you that. These guys made like $120, I think, of my purchase and sale, really fat margins, but that's fine because I made three times that on the speculation, and I knew their security was the best. The fees were excessive but not impactful compared to the fact of strong property rights, over something that can be stolen in a millisecond. So they can make profits, they're capable of that. They just need the crypto markets to be really volatile, and big winners, and big losers[1]. I guess set it up like a casino, but again, you just gotta be right. [1] I wonder if anybody does this, deliberately bets on something they know will go down, goes long that is, not short, on something that will fall. Stock market masochism, similar to what people think is tributary masochism on my part, just my paying additional taxes "for no reason" ie gratitude.