Andreessen and Rajaram joins Coinbase as Board of Directors

figmentofmyass

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Quote from: davis196 on September 05, 2020, 12:22:47 AM

How can a Coinbase IPO kickstart a potential Bitcoin bull run?

mainstream, equity-focused investors don't want to touch BTC or derivatives. they like to hold equities. there are very few affordable or liquid options to do that with that provide any sort of exposure to the crypto market.

i dunno about "kickstarting" a bitcoin bull run, but i could see a coinbase public listing drawing in attention/interest to the crypto space from traditional investors. it'll allow them to dip their toes into the market, get them comfortable with the idea of cryptocurrency as digital assets, and get them ripe for bigger listings like an eventual bitcoin ETF.

Quote from: davis196 on September 05, 2020, 12:22:47 AM

Coinbase isn't the biggest or the best crypto exchange platform.The Coinbase stocks are not tied to the price of Bitcoin.

i think coinbase shares would be indirectly tied to bitcoin/crypto prices. the market would price shares based on earnings + speculation on future earnings. higher prices encourage adoption and more adoption encourages higher prices in a feedback cycle, all of which means higher earnings for coinbase. coinbase has huge market share, so what's good for crypto is good for them, and that's how the stock market will treat it.

kryptqnick

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Quote from: cryptomaniac_xxx on September 04, 2020, 02:30:09 AM

https://twitter.com/coinbase/status/1300433270883209218

Is this the preparation for a potential IPO? Coinbase Reportedly Planning to Go Public This Year—Paving the Way for the Next Phase of Crypto Adoption.

Quote

According to sources, Coinbase has started planning for a stock market listing this year, which would make it the first major US cryptocurrency exchange to go public.

This is interesting and the timing wouldn't been perfect specially if bitcoin market continue to soar in the next two years. Yes, there are a lot of complains against Coinbase recently, but if this whole IPO happens next year, it might be another catalyst for the eventual bull run that we all have been waiting for.

I haven't heard of these guys, and Gokul Rajaram does not even have a Wikipedia page (but his work experience is good). Andreessen is at least a big deal, he's a billionaire and seems to be a successful entrepreneur (well, some here point out that it's not the case, so I'm not sure). Moreover, it seems that he was a Bitcoin supporter even back in 2014, so it's not a surprise he'd join Coinbase. And of course Coinbase might be planning to give its stock, but firstly, the main source on this is "three people familiar with the matter" (so it might be just rumors), and secondly, I don't see how these two are related (new people in the team and going public).

DooMAD

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Quote from: Kakmakr on September 05, 2020, 02:18:50 AM

I hope they did not hire him to pull the same shit that they pulled with Circle?

Nope, we figured that part out. Circle aren't connected with this news at all. Different guy.

Quote from: Kakmakr on September 05, 2020, 02:18:50 AM

but when they got bigger... they turned 180 degrees and f@ked the users by going full KYC like a Bank and even dropped BTC at one stage?

I can't imagine Coinbase ever dropping BTC. They'd have to make some pretty serious errors in judgement to find themselves in the same sort of position that unrelated company did. Dropping BTC was simply an admission of failure on their part. Their business model wasn't viable. Coinbase, on the other hand, seem to be doing quite well and are probably raking it in. Whether that's good for their customers or not is another question entirely, heh.

Also, woo, 4000th post.

tbct_mt2

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Quote from: gentlemand on September 04, 2020, 06:07:44 AM

Circle has been a whirlpool of fail. They threw in their BTC retailing shortly before things went mad in 2017. They paid 400 mil for Poloniex, did nothing to it other than making their customers pay for a margin call and then let it go to a penis for peanuts. I presume their OTC did well but that's been sold to Kraken just before big bucks arrive en masse.

The reconstruction of UI on Poloniex is bad. I love the Poloniex old UI, simple and neat to use. The new UI makes me too difficult and takes more time to filter by changes in volume, price and trading pairs. The old UI automatic displays the list, and I only have to short it out. Now I have to click to drop-down menu before filter. It sucks.

Kakmakr

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I hope they did not hire him to pull the same shit that they pulled with Circle? I remember when Circle was still small, they supported pseudo anonymity and they pulled in a lot of new users... but when they got bigger... they turned 180 degrees and f@ked the users by going full KYC like a Bank and even dropped BTC at one stage?

I know Coinbase is actually fully KYC compliant, but they do not operate like these ruthless Banker types... so this is not a good move for the users of Coinbase, if they start employing these types of people. Roll Eyes

davis196

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How can a Coinbase IPO kickstart a potential Bitcoin bull run?Coinbase isn't the biggest or the best crypto exchange platform.The Coinbase stocks are not tied to the price of Bitcoin.
I've always viewed Coinbase as a fiat company that is operating with cryptocurrencies rather than some actual crypto company.Now this IPO will prove that I'm right.
I'm not familiar with Andreessen and Rajaram,but I hope that they might help for turning Coinbase into a better company.

bbc.reporter

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Quote from: gentlemand on September 04, 2020, 06:07:44 AM

Just goes to show failing upwards is a thing in cryptoland too. No idea who Mr Rajaram is, but Andreessen could've kicked Coinbase's arse if he'd made some competent moves.

Circle has been a whirlpool of fail. They threw in their BTC retailing shortly before things went mad in 2017. They paid 400 mil for Poloniex, did nothing to it other than making their customers pay for a margin call and then let it go to a penis for peanuts. I presume their OTC did well but that's been sold to Kraken just before big bucks arrive en masse.

Maybe their stablecoin will do something but I'd pay him not to be on my board.

However, he also advises and has influence in other successful companies that manipulate the world every day. Facebook is one of them.

This should also be good news to cryptocoin traders. This implies that any token listed in Coinbase might not be included in the SEC's list of illegal securities thanks to Marc Andressen's political connections hehehe.

gentlemand

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Quote from: DooMAD on September 04, 2020, 03:58:56 PM

Then either I'm failing at using search engines, or there are too many bald white guys in crypto and you're possibly confusing him with Jeremy Allaire, heh.

Holy sheeyit, you're totally right. There are definitely too many hairless crackers in this space to keep abreast of. At least this appointment has a tad more credibility than the one I originally thought. Silly me.

JakobFugger

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Quote from: DooMAD on September 04, 2020, 03:58:56 PM

Quote from: gentlemand on September 04, 2020, 03:51:04 PM

He's one of the original founders and runs it too which means he has a hand in all of their gaffes, or at least the buck stopped at his hand.

Then either I'm failing at using search engines, or there are too many bald white guys in crypto and you're possibly confusing him with Jeremy Allaire, heh.

I don't think he ever invested in Circle. Always at Coinbase. He has several other investments through his company A16z. Those who do not know him, should read about his history and the importance he has on .com companies.

He founded Netscape and was an investor and board member of several large companies, such as ebay, paypal, skype, facebook, and a big fan of Cryptos. In 2014 he invested more than 50 million. He wrote one of the most legendary and visionary texts on the change of the internet. "Why Software Is Eating the World"

His texts and the money he invests show that he is not just playing chips in a casino.

https://www.crunchbase.com/organization/a16z-crypto/recent_investments
https://a16z.com/crypto/
https://www.crunchbase.com/organization/circle-2/company_financials#investors
https://a16z.com/2011/08/20/why-software-is-eating-the-world/
https://a16z.com/2014/01/21/why-bitcoin-matters-nyt/

figmentofmyass

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Quote from: cryptomaniac_xxx on September 04, 2020, 02:30:09 AM

Is this the preparation for a potential IPO? Coinbase Reportedly Planning to Go Public This Year—Paving the Way for the Next Phase of Crypto Adoption.

Quote

According to sources, Coinbase has started planning for a stock market listing this year, which would make it the first major US cryptocurrency exchange to go public.

This is interesting and the timing wouldn't been perfect specially if bitcoin market continue to soar in the next two years. Yes, there are a lot of complains against Coinbase recently, but if this whole IPO happens next year, it might be another catalyst for the eventual bull run that we all have been waiting for.

it won't be an IPO. insiders say they are looking at a direct listing. https://www.reuters.com/article/us-coinbase-ipo-exclusive/exclusive-cryptocurrency-exchange-coinbase-readies-stock-market-listing-sources-idUSKBN24A21W

Quote

One of the sources said that Coinbase, which was valued at more than $8 billion in its latest private fundraising round in 2018, is exploring going public via a direct listing instead of a traditional initial public offering (IPO).

an IPO would flood the market with shares and dilute the holdings of early investors. i think their plan is to use a direct listing to prevent such dilution and limit the number of shares on the open market. this will allow early investors to cash out at much more inflated prices.

DooMAD

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Quote from: gentlemand on September 04, 2020, 03:51:04 PM

He's one of the original founders and runs it too which means he has a hand in all of their gaffes, or at least the buck stopped at his hand.

Then either I'm failing at using search engines, or there are too many bald white guys in crypto and you're possibly confusing him with Jeremy Allaire, heh.

gentlemand

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Welt Am Draht

He's one of the original founders and runs it too which means he has a hand in all of their gaffes, or at least the buck stopped at his hand.

DooMAD

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Quote from: gentlemand on September 04, 2020, 06:07:44 AM

Just goes to show failing upwards is a thing in cryptoland too. No idea who Mr Rajaram is, but Andreessen could've kicked Coinbase's arse if he'd made some competent moves.

Circle has been a whirlpool of fail. They threw in their BTC retailing shortly before things went mad in 2017. They paid 400 mil for Poloniex, did nothing to it other than making their customers pay for a margin call and then let it go to a penis for peanuts. I presume their OTC did well but that's been sold to Kraken just before big bucks arrive en masse.

Maybe their stablecoin will do something but I'd pay him not to be on my board.

Is Andreessen connected to Circle? I know Circle are pretty hopeless, but I'm struggling to figure out where they fit in the topic.

gentlemand

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Just goes to show failing upwards is a thing in cryptoland too. No idea who Mr Rajaram is, but Andreessen could've kicked Coinbase's arse if he'd made some competent moves.

Circle has been a whirlpool of fail. They threw in their BTC retailing shortly before things went mad in 2017. They paid 400 mil for Poloniex, did nothing to it other than making their customers pay for a margin call and then let it go to a penis for peanuts. I presume their OTC did well but that's been sold to Kraken just before big bucks arrive en masse.

Maybe their stablecoin will do something but I'd pay him not to be on my board.

cryptomaniac_xxx

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https://twitter.com/coinbase/status/1300433270883209218

Is this the preparation for a potential IPO? Coinbase Reportedly Planning to Go Public This Year—Paving the Way for the Next Phase of Crypto Adoption.

Quote

According to sources, Coinbase has started planning for a stock market listing this year, which would make it the first major US cryptocurrency exchange to go public.

This is interesting and the timing wouldn't been perfect specially if bitcoin market continue to soar in the next two years. Yes, there are a lot of complains against Coinbase recently, but if this whole IPO happens next year, it might be another catalyst for the eventual bull run that we all have been waiting for.

Topic: Andreessen and Rajaram joins Coinbase as Board of Directors (Read 191 times)