4 ms·

They've already survived two crypto winters as well before this one, so they've already had experience and gotten to see what works and what doesn't, and have s

They've already survived two crypto winters as well before this one, so they've already had experience and gotten to see what works and what doesn't, and have structured their company accordingly. I think if any crypto company deserves to survive this crypto winter, they're probably the most deserving.

smt88 4y ago
I doubt their past experience applies. This is far more than a winter.
- danuker 4y ago
  I agree, this might be a prolonged depression because the interest rates are higher.
- cableshaft 4y ago
  I didn't literally mean that past crypto winters lasted only as long as a physical winter. Past crypto winters have lasted as much as two years. If this lasts longer than that, sure, it can be considered worse than past ones. Currently we're just barely over a year from bitcoin's all-time-high, though. As the other comment said, we're somewhat in uncharted territory with higher interest rates, but I don't think it will insure a longer winter. It might just keep it from getting quite as high as the ATH for a while, but I think as the rate increases slow down (and especially once they start being cut again) it will start rebounding significantly. Also if that past experience doesn't apply, then it probably doesn't apply for any other non-crypto company that was founded since 2012 (when Coinbase was founded as well). You expecting all of them to go belly up, just because they only existed in the era of low interest rates?
  - dogleash 4y ago
    Are there any rubes left though? The types of people reaching out to me to explain crypto during the last boom makes me think the wells are running dry.
- capableweb 4y ago
  "Crypto winter" doesn't refer to the fact that half of the world is in the "winter season" climate currently but rather a time-period (traditionally lasting longer than a climate "season") when cryptocurrencies prices are at a downturn.
  - TAForObvReasons 4y ago
    "winter" implies there's a forthcoming "spring". Parent is suggesting the possibility of a permanent impairment, that crypto may never "recover" to public interest and price levels seen in the last few years.
cs702 4y ago
Yes. Everything suggests they are prioritizing long-term financial stability and staying power for what could be a really long crypto winter. Many poorly thought-out, poorly executed, and brazenly fraudulent schemes must be fully washed away before the market for this technology can find its footing. Armstrong and his top execs deserve a lot of credit for staying rational over the past few years, while execs at most other firms in the industry seemingly lost their minds and willingly threw themselves into the flames of all sorts of stupid risky schemes destined to burn violently into ash.
deleted 4y ago
[deleted]

smt88 4y ago

I doubt their past experience applies. This is far more than a winter.

danuker 4y ago
I agree, this might be a prolonged depression because the interest rates are higher.
cableshaft 4y ago
I didn't literally mean that past crypto winters lasted only as long as a physical winter. Past crypto winters have lasted as much as two years. If this lasts longer than that, sure, it can be considered worse than past ones. Currently we're just barely over a year from bitcoin's all-time-high, though. As the other comment said, we're somewhat in uncharted territory with higher interest rates, but I don't think it will insure a longer winter. It might just keep it from getting quite as high as the ATH for a while, but I think as the rate increases slow down (and especially once they start being cut again) it will start rebounding significantly. Also if that past experience doesn't apply, then it probably doesn't apply for any other non-crypto company that was founded since 2012 (when Coinbase was founded as well). You expecting all of them to go belly up, just because they only existed in the era of low interest rates?
- dogleash 4y ago
  Are there any rubes left though? The types of people reaching out to me to explain crypto during the last boom makes me think the wells are running dry.
capableweb 4y ago
"Crypto winter" doesn't refer to the fact that half of the world is in the "winter season" climate currently but rather a time-period (traditionally lasting longer than a climate "season") when cryptocurrencies prices are at a downturn.
- TAForObvReasons 4y ago
  "winter" implies there's a forthcoming "spring". Parent is suggesting the possibility of a permanent impairment, that crypto may never "recover" to public interest and price levels seen in the last few years.

cs702 4y ago

Yes. Everything suggests they are prioritizing long-term financial stability and staying power for what could be a really long crypto winter. Many poorly thought-out, poorly executed, and brazenly fraudulent schemes must be fully washed away before the market for this technology can find its footing. Armstrong and his top execs deserve a lot of credit for staying rational over the past few years, while execs at most other firms in the industry seemingly lost their minds and willingly threw themselves into the flames of all sorts of stupid risky schemes destined to burn violently into ash.

deleted 4y ago

[deleted]