4 ms·

>CME isn't just "corn commodities"; Yes, I understand that and I wasn't dismissing CME as a simple platform. I used to work across the street from the CME an

by jasode 4y ago

>CME isn't just "corn commodities"; Yes, I understand that and I wasn't dismissing CME as a simple platform. I used to work across the street from the CME and saw the traders walking around in their yellow jackets every day. The "corn" was only one example to tie it to a bank services scenario. >, and a minter of new derivative products like S&P futures I think Coinbase recently offered something similar: https://www.google.com/search?q=Coinbase+launches+Derivatives+Futures+Products https://www.google.com/search?q=Coinbase+launches+Derivative... Somehow, the wordsmithing in my comment got misconstrued as being dismissive of CME as being too simple and praising Coinbase as being complex.

tptacek 4y ago
It's not that it's dismissive (though the corn thing was a bit much) so much as that it's probably wrong. CME is mostly a tech company, and they do a lot of stuff.
- jasode 4y ago
  >(though the corn thing was a bit much) so much as that it's probably wrong. I was trying to convey that a farmer can't get a loan from the CME to finance his seeds/fertilizer/etc and use his corn crops as collateral. What is factually incorrect about that? Coinbase and CME have obvious overlaps, but they also have massive financial functions where they don't. That's what the corn bank loan example was trying to highlight. EDIT to reply: >The assertion is that Coinbase has more work to do and thus more need for headcount than CME. I dispute that. Sorry for the misunderstanding! I never intended to convince people that Coinbase needs more employees than CME. I should have put a disclaimer in my original comment such as "Coinbase may only need 1/10th the number of CME employees but as fyi, Coinbase is not a direct comparable to CME..."
  - tptacek 4y ago
    The assertion is that Coinbase has more work to do and thus more need for headcount than CME. I dispute that. That's all.

by jasode 4y ago

tptacek 4y ago

It's not that it's dismissive (though the corn thing was a bit much) so much as that it's probably wrong. CME is mostly a tech company, and they do a lot of stuff.

jasode 4y ago
>(though the corn thing was a bit much) so much as that it's probably wrong. I was trying to convey that a farmer can't get a loan from the CME to finance his seeds/fertilizer/etc and use his corn crops as collateral. What is factually incorrect about that? Coinbase and CME have obvious overlaps, but they also have massive financial functions where they don't. That's what the corn bank loan example was trying to highlight. EDIT to reply: >The assertion is that Coinbase has more work to do and thus more need for headcount than CME. I dispute that. Sorry for the misunderstanding! I never intended to convince people that Coinbase needs more employees than CME. I should have put a disclaimer in my original comment such as "Coinbase may only need 1/10th the number of CME employees but as fyi, Coinbase is not a direct comparable to CME..."
- tptacek 4y ago
  The assertion is that Coinbase has more work to do and thus more need for headcount than CME. I dispute that. That's all.