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mk4

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Quote from: gentlemand on July 11, 2020, 05:44:23 PM

The only thing the shareholders and potential buyers will care about is how many dollars they make and how many they'll make in future. Crypto is no more than the vehicle they use to make them.

While somewhat true about the money part, people(especially institutional money) will definitely be thinking twice investing in a company if there's uncertainty if the company is doing shady stuff or not; especially after the very recent Wirecard scandal whereas the stock price plummeted from $50+ per share down to less than a dollar in just a week. As much as people want to make money, one thing's for sure⁠— they don't want to lose money either.

gentlemand

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Quote from: hugeblack on July 11, 2020, 03:58:53 PM

Will there be any audit on price manipulation or how to evaluate crypto assets? Or rather how will the market value be estimated?
I am sure that there is a lot of manipulation in the prices of some cryptocurrencies, if it is not in Bitcoin it will be in altcoins.

The only thing the shareholders and potential buyers will care about is how many dollars they make and how many they'll make in future. Crypto is no more than the vehicle they use to make them.

hugeblack

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Will there be any audit on price manipulation or how to evaluate crypto assets? Or rather how will the market value be estimated?
I am sure that there is a lot of manipulation in the prices of some cryptocurrencies, if it is not in Bitcoin it will be in altcoins.

I am optimistic, if the listing takes place, the situation will be better, unlike Binance^*, which I fear is the worst event that happens to cryptocurrencies.

*: They hide a lot of things.

figmentofmyass

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Quote from: o_e_l_e_o on July 11, 2020, 06:01:34 AM

Quote from: figmentofmyass on July 10, 2020, 06:02:27 PM

-snip-

So they are doing a direct listing so current shareholders can sell their shares for maximum profit. Sounds very similar to when Coinbase listed a bunch of shitcoins their shareholders told them to so they could dump their coins...

you gotta hand it to them, these guys know how to make money. i can tell by the way they are timing this move---the stock listing is gonna go parabolic with BTC in the next bubble. early shareholders are gonna cash the fuck out.

Quote from: o_e_l_e_o on July 11, 2020, 06:01:34 AM

The last thing Coinbase needs is yet another reason to ignore their customers. With a stock market listing, their primary aim will shift even more towards maximizing their profits so they can keep their shareholders happy.

they remind me of amazon and uber/uber eats. they cornered the market in the early growth years and are now jacking up prices to monetize that growth. the way they jacked up their fees recently (0.5% at the lowest tier compared to 0.1% at binance US), you can tell they are tapering off from their initial high growth model and moving towards a long term profit-oriented model. they built their brand, now it's time to profit.

o_e_l_e_o

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Quote from: figmentofmyass on July 10, 2020, 06:02:27 PM

-snip-

So they are doing a direct listing so current shareholders can sell their shares for maximum profit. Sounds very similar to when Coinbase listed a bunch of shitcoins their shareholders told them to so they could dump their coins...

The last thing Coinbase needs is yet another reason to ignore their customers. With a stock market listing, their primary aim will shift even more towards maximizing their profits so they can keep their shareholders happy. They will put even less emphasis on things like using SegWit or their abysmal customer support, and simply try to squeeze out every cent in profit that they can. I also expect that this could potentially lead to more regulations for Coinbase, which would carry over in to even less privacy for their customers and even more invasive KYC requirements.

This might bring more publicity to the crypto space in general, but I don't think it's good news for Coinbase users.

sheenshane

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Quote from: simmonjoshua on July 10, 2020, 01:53:41 AM

Hey! I just read "Coinbase Inc has started plans for a stock market listing that could come as early as this year, making it the first major US cryptocurrency exchange to go public." How about this?

It could be better if you drop link of the source where you this come from.
https://www.nytimes.com/reuters/2020/07/09/business/09reuters-coinbase-ipo-exclusive.html

Not bad for them, but as what they said above, Coinbase recently had a different issue that makes people here avoided that exchange.
I didn't use that exchange(I don't have plan to use) but as what I have noticed here, countless thread saying that they'd scam from Coinbase or lack of customer support.

I don't think if the US government SEC is their barrier to this.

figmentofmyass

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stock investors will use it as an indirect way to get exposure to the crypto market. there are very few publicly listed companies that currently occupy that niche. actually, the only one that comes to mind is riot blockchain inc (RIOT)---the veterinary healthcare company that overnight in 2018 became a crypto mining company and stuck "blockchain" into its company name.

Quote from: Lucius on July 10, 2020, 05:12:47 AM

It seems like a logical continuation of their development, and the only thing they can do at the moment to achieve a fresh inflow of money.

apparently this isn't about raising capital. they don't plan to do an IPO. on the contrary, their shareholders have no interest in diluting their own holdings. i take it they prefer to slowly cash out at high valuations on the open market:

Quote

The company's most recent funding round in 2018 valued the firm at more than $8 billion. The company is more interested in going public through a direct listing than a traditional initial public offering, sources familiar with the plans told Reuters. Direct listings allow firms to go public without raising capital in a stock sale. Shareholders are able to sell their equity without having their stakes watered down by a new issuance.

mk4

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Quote from: gentlemand on July 10, 2020, 05:12:07 AM

It also becomes more of a one stop shop for surveillance and seizure. With the custody stuff too Coinbase could well end up with over 10% of all Bitcoin under its control. That's a big old point of centralisation.

Yea it's truly unfortunate. But just like what happened to a decent percentage of the bitcoin people right now, I like to take the optimistic approach and think that Coinbase will just be the sort of "introductory platform" of people to bitcoin, and as they learn more about bitcoin and it's other characteristics like decentralization and privacy, that they would hopefully skew away from Coinbase, or at best, centralized exchanges in general.

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Quote from: Lucius on July 10, 2020, 05:12:47 AM

More info -> https://markets.businessinsider.com/currencies/news/coinbase-direct-listing-cryptocurrency-exchange-plans-stock-market-sec-approval-2020-7-1029381204#

Plenty of SEC talk in there.

The thing I've always wondered about Coinbase is that it plans to grow ever more legit at the same time as growing the number of risible shitcoins on its platform.

No doubt that's where plenty of money is but it seems hard to reconcile a sheen of old school establishment when you're touting crap that could fork or drop dead any second. If I were the gatekeeper to this I'd have cause to wonder.

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It seems like a logical continuation of their development, and the only thing they can do at the moment to achieve a fresh inflow of money. This is likely to have an impact on the perception of the entire crypto market, but whether it will have an impact on the price of Bitcoin remains to be seen. Personally, I think that the market is no longer as naive as it was a few years ago, and that although there will certainly be pumping of this news through the media, it will not cause any significant FOMO given the time in which we live.

More info -> https://markets.businessinsider.com/currencies/news/coinbase-direct-listing-cryptocurrency-exchange-plans-stock-market-sec-approval-2020-7-1029381204#

gentlemand

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Quote from: mk4 on July 10, 2020, 02:09:49 AM

While I personally and some people here don't like Coinbase(for obvious reasons), this is probably going to be a net positive for bitcoin and the cryptocurrency space in general.

Bit of both for me.

The bigger and more public Coinbase and similar become the more remote the idea of hassling Bitcoin is in the countries it operates in.

It also becomes more of a one stop shop for surveillance and seizure. With the custody stuff too Coinbase could well end up with over 10% of all Bitcoin under its control. That's a big old point of centralisation.

mk4

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While I personally and some people here don't like Coinbase(for obvious reasons), this is probably going to be a net positive for bitcoin and the cryptocurrency space in general. Coinbase is a company that's worth billions so I wouldn't be surprise that they(along with bitcoin of course) will be over the news once they actually go public.

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Quote from: simmonjoshua on July 10, 2020, 01:53:41 AM

Hey! I just read "Coinbase Inc has started plans for a stock market listing that could come as early as this year, making it the first major US cryptocurrency exchange to go public." How about this?

for coinbase i think it is a great achievement, this will really solidify the already strong exchange, going into the stock exchange market is huge and it will give coinbase more exposure allowing more standard company or businesses and other important bodies to buy into their shares, i think it will also give some exposure to crypto in some aspect, i can see the awareness is growing.

simmonjoshua

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Hey! I just read "Coinbase Inc has started plans for a stock market listing that could come as early as this year, making it the first major US cryptocurrency exchange to go public." How about this?

Topic: Coinbase (Read 211 times)