4 ms·
Even Coinbase?
by sz4kerto 4y ago
Even Coinbase?
- etc-hosts 4y agoCoinbase appears now to be relatively boring, highly regulated, and compliant with US laws. I think they'll be fine.
- polygamous_bat 4y agoThey will be fine _modulo people's interest in crypto_. The way I think about it is that their business model is taking fees off of every transactions, so as the interest tapers off so will their earnings and valuation.
- jjfoooo4 4y agoOn the path to bankruptcy the boring way, not being able to turn a profit
- polygamous_bat 4y agoPerhaps Coinbase will set a record by being the first crypto exchange that folded the proper, legal way! /s
- saurik 4y agoYou seem to be confusing "is a good business to invest in" into the discussion of "is reasonably safe to use".
- zen21 4y agoWould you say they are A-OK?
- junofan 4y agoSo was FTX US.
- digianarchist 4y agoRight but Coinbase doesn't have a renegade holding company based in the Caribbean.
- darth_aardvark 4y agoCan people not get money out of FTX US? I thought it was a completely separate from FTX intl because it had to comply with regulations and whatnot.
- porknubbins 4y agoWhat you said is all true and what everyone thoight until sometime today when they said they are cutting off withdrawals and part of the bankruptcy too.
- tootie 4y agoEvery coin on every market is being driven by the same collective mania. Just Coinbase is more ethical or Eth is ideologically pure doesn't mean their value isn't determined by the same rampant speculation and outright fraud that dominates the entire space. You may not see an outright bankruptcy but prices and volumes can plummet nonetheless.
- Auracle 4y agoI feel perfectly fine having my crypto stored on Coinbase’s end. As far as I know their business model makes perfect sense and they don’t take the weirdly big risks all of these falling dominoes have. Also, if Coinbase goes bankrupt and takes everyone’s crypto with them I feel everything will crash to essentially 0.
- HDThoreaun 4y ago> their business model makes perfect sense Well they can't make money because all the other exchanges offer better fees/lower spreads since they're loaning customer money out. They'll never be big enough to actually makea. profit while there are shady exchanges offering a better product(until it collapses).
- saurik 4y agoThere aren't many compliant exchanges operating in the US, though; Coinbase seriously even raised their fees a couple years ago because they thought they could do so, even while other exchanges are trying to lower them: they aren't merely competing on fees.
- grey-area 4y agoCryptocurrencies are not everything.
- jefftk 4y agoA week ago someone could have said that about FTX. Loaning customer assets was explicitly disallowed in their TOS, and was not something I had even heard rumors they were doing (though I'm not that up on crypto rumors).