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Coinbase may or may not be a good company. I have no idea. What I do know is that they have a lot of things working against them: - Money is not cheap anymoore
by jmacd 4y ago
Coinbase may or may not be a good company. I have no idea.
What I do know is that they have a lot of things working against them:
- Money is not cheap anymoore
- Their market is collapsing.
I don't see how a company makes it through. Even if they navigate the present environment and manage to finance the company through the new few years, they may do so in to an ultimately collapsing market.
There is no reason to assume that crypto trading will exist in any meaningful way in the next few years. (It may, sure. You may believe, yes. Are there any clear indicators that it will stabilize and grow? No there are not.)
- wallawe 4y ago> Money is not cheap anymoore This is actually working for them. https://www.coindesk.com/business/2022/11/02/coinbases-interest-income-may-be-bright-spot-amid-challenging-third-quarter/ https://www.coindesk.com/business/2022/11/02/coinbases-inter...
- onlyrealcuzzo 4y agoI'm a huge crypto bear, and even if crypto collapses 99% - it's still a >$10B market, so there will still be people trading it. The sports trading card market is ~$7B - and plenty of people's entire life and income revolves around trading sports cards.
- mikekij 4y agoThe only issue with the comparison of cryptocurrencies and sports trading cards is that trading cards will still provide some utility to the 1% of people trading them. The primary utility of cryptocurrencies is the anticipation of them going up in value. If 99% of people stop using crypto, it loses its utility for the last 1% of users.