Coinbase CEO Brian Armstrong Says: Bitcoin & Cryptocurrencies are the new stock

Goosebump

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Quote from: GreenBits on November 24, 2017, 09:44:52 PM

Quote from: Goosebump on November 24, 2017, 03:11:34 PM

Check it out fellas, I gave my 2 cents about the subject in the video but I would love to hear your thoughts on what he said in the interview as well. Thanks!

https://www.youtube.com/watch?v=Gel1GLJd3Ec

i would claim this for the erc20 token offerings that are securities, but not for bitcoin, specifically. bitcoin, being decentralized, is literally the opposite of what we traditionally call a "stock". its an asset, and a growth asset to boot. but stock represent singular entities, the corp that issues it. bitcoin is a consensus; bitcoin price simply reflects what we collectively want it to be.

some of the alts that are securities might fit this bill. even some of the better, more useful tokens. but bitcoin, specifically, has to sit this designation out.

Its Brian Armstrong, so I will give him a pass Wink

but this statement bears a bit more consideration, imo.

at least he isnt a wallstreet bald head calling bitcoin a fraud Wink

I see your points, but with cryptocurrency, for the time being at least, largely viewed as stores of value, wouldn't you think that by MOST people they would view it as a stock? I am not saying that people who are in the cryptocommunity see it this way, but I assume that the large majority do. Especially since the only crypto they know is Bitcoin.

GreenBits

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Quote from: Goosebump on November 24, 2017, 03:11:34 PM

Check it out fellas, I gave my 2 cents about the subject in the video but I would love to hear your thoughts on what he said in the interview as well. Thanks!

https://www.youtube.com/watch?v=Gel1GLJd3Ec

i would claim this for the erc20 token offerings that are securities, but not for bitcoin, specifically. bitcoin, being decentralized, is literally the opposite of what we traditionally call a "stock". its an asset, and a growth asset to boot. but stock represent singular entities, the corp that issues it. bitcoin is a consensus; bitcoin price simply reflects what we collectively want it to be.

some of the alts that are securities might fit this bill. even some of the better, more useful tokens. but bitcoin, specifically, has to sit this designation out.

Its Brian Armstrong, so I will give him a pass Wink

but this statement bears a bit more consideration, imo.

at least he isnt a wallstreet bald head calling bitcoin a fraud Wink

Goosebump

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Quote from: neurotypical on November 24, 2017, 07:39:37 PM

Quote from: Goosebump on November 24, 2017, 07:20:12 PM

Quote from: ?? on ??

I mean of course he is extremely pro bitcoin and optimistic it is his entire business to be so.

What are your thoughts on their new "Coinbase Custody" hedge fund program?

I can understand why he would want to create that service. It is a service that will have high demand, like it or not. All that institutional money isn't going to download Bitcoin Core and have an airgapped machine to store private keys (as they should) so they will resort to a counterparty.

If Coinbase is ready to deliver this level of security ready to be such a counterparty of risk (we are talking about billionaire portfolios) it's another story. Armstrong may be punching out of his league here.

With bitcoin being the risk it is by nature though, how can coinbase be so confident in their storage of them, especially when dealing with billionaire portfolios.

neurotypical

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Quote from: Goosebump on November 24, 2017, 07:20:12 PM

Quote from: ?? on ??

I mean of course he is extremely pro bitcoin and optimistic it is his entire business to be so.

What are your thoughts on their new "Coinbase Custody" hedge fund program?

I can understand why he would want to create that service. It is a service that will have high demand, like it or not. All that institutional money isn't going to download Bitcoin Core and have an airgapped machine to store private keys (as they should) so they will resort to a counterparty.

If Coinbase is ready to deliver this level of security ready to be such a counterparty of risk (we are talking about billionaire portfolios) it's another story. Armstrong may be punching out of his league here.

w5pn73

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Well of course he is saying that, he is the CEO of Coinbase.. Grin

I do think he's right though.

Goosebump

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Quote from: ?? on ??

I mean of course he is extremely pro bitcoin and optimistic it is his entire business to be so.

What are your thoughts on their new "Coinbase Custody" hedge fund program?

Goosebump

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Quote from: hiVe on November 24, 2017, 06:13:07 PM

Of course! Nowadays, We research Bitcoin and altcoins to buy and wait until they go up. That is the same with stocks.

While that is true, I think there is the potential for cryptocurrencies to become more than just a storage of value. Many people invest in crypto just for that aspect.

hiVe

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Of course! Nowadays, We research Bitcoin and altcoins to buy and wait until they go up. That is the same with stocks.

squatter

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STOP SNITCHIN'

Quote from: shursight on November 24, 2017, 05:00:44 PM

What the hell.. This can not be possible, how the fuck is he able to compare bitcoin with stocks?

They're both liquid assets that can be bought and sold on exchanges, or through brokers. They're both investments, are they not? The stock market has been hot for years. Now it's time for crypto. I think that's what he's saying.

Quote from: fudster on November 24, 2017, 05:02:16 PM

Its true already. Trading on exchanges is the same thing as trading on stock market. If you pay fees on brokers every time you do transactions, its what you also do in crypto. Sad part is that exchange lock accounts, getting into stock market will need you to provide details even bank accounts before you can even make single transaction.

One difference is that with stock brokers, you generally pay a flat fee to buy/sell. On cryptocurrency exchanges, we pay % fees, so we end up paying a lot more. Who came up with this % commission stuff?

That will be one of the perks of ETF trading -- flat fees. Also, trading from retirement accounts (tax free). Can't wait! Cheesy

streetlight

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Of course Brian is going to say that. He is one of the biggest scammers in the space. But he is clever. Now he is calling these things stocks so he is really trying to appeal to the masses now, while remaining compliant with the authorities whose dick's he sucks. Clever, but sooner or later he's just going to be a Jamie Dimon who think they have power over all the people in this world, because AMERICA FUK YEAH!

fudster

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Regardless of being centralized or not.

Its true already. Trading on exchanges is the same thing as trading on stock market. If you pay fees on brokers every time you do transactions, its what you also do in crypto. Sad part is that exchange lock accounts, getting into stock market will need you to provide details even bank accounts before you can even make single transaction.

shursight

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What the hell.. This can not be possible, how the fuck is he able to compare bitcoin with stocks? What is the point with figuring it out?

I have never been interested in stocks because i dont like the idea of making a company have full control of my shares because they can easily manipulate the price of each one of them, maybe not "the" company, but other companies are able to manipulate stocks too.

This is a garbage, he really made a big mistake because bitcoin is a different thing from stocks, a really different thing and it can not be compared because the whole technology is different.

Thirdspace

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Quote from: coinmagnet1 on November 24, 2017, 04:33:05 PM

Coins from ICOs are in many ways like owning stocks, without all the headaches associated with buying and selling regular stocks. Less transaction fees, instant transfer of ownership - this is the new reality, and I love it!

you could say that when you are profitting from the ICO, but what if it turned scam?
have you ever wonder why so many countries against ICO? because it's hard to regulate...
companies, stock issuers, stock owners, investment managers and etc are all identifiable and must follow certain rules
all related parties must be registered and fully comply with centralized institutions

with bitcoin and cryptocurrency, the ideas are decentralize and anonymousity
cryptocurrencies and stocks are based on different foundations, but of course both can give you investment gain
now if you got scammed in crypocurrency, it is a lot harder for you to get your money back
and the ICO perps could get away easily, easier than those who were involved in stocks business

helloeverybody

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the thing with cryptos is , its a lot easier for new people to get into than buying stocks and you have more control over whats happening and when u can cash out etc. I think a lot of the younger generation would favour cryptos anyway and imo theres still alot of money to flow into it.

exstasie

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Quote from: Xavofat on November 24, 2017, 03:19:39 PM

BTC is absolutely nothing like a stock, because it does not represent a centralised entity, while a stock does. A stock will always represent a centralised entity, while a (good) cryptocurrency will always be a decentralised network.

You can't measure the sales or profits of a cryptocurrency, nor can you measure the users or other fundamentals which are relevant to deciding a stock decision.

I took it to mean that investors that previously would have put money into stocks are now turning to Bitcoin and other cryptocurrencies. Just speaking generally in terms of which assets to invest in. In that sense, he's right. Polls find that millenials are becoming more interested in Bitcoin than stocks as an investment.

It'll be interesting to see whether that trend continues over the next few years, particularly if Bitcoin experiences another bear market. That is, the stock market could be seen as more "reliable" in the sense that there is longer time in between bearish cycles. But the gains are also much smaller, hence why young people and Wall Street are both getting interested.

MiningSensei

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I dont like the idea of comparing bitcoin with stocks. Maybe they are now being controllated by a lot of instutions right now (just like stocks do)

If you look at the latest prices movements of bitcoin and if you connect those movements with the facts, it is obvious that it has been manipulated, maybe this is the only coincidence that it has with stocks.

But no, of course, it is not a stock, and it can not be compared because they are entire different system. Bitcoin is like an universe, and stocks are just countries.

And know that this came from the CEO of coinbase really breaks my heart.

coinmagnet1

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Coins from ICOs are in many ways like owning stocks, without all the headaches associated with buying and selling regular stocks. Less transaction fees, instant transfer of ownership - this is the new reality, and I love it!

hodlftw

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Quote from: Razick on November 24, 2017, 04:26:20 PM

I heard this recently too. In fact I think it was an interview with this guy on Russia Today (RT) on YouTube. He is pretty much right except that crypto compared to the stock market is like nothing. All the cryptos in the world aren't even as big as Apple so if you think about it from that perspective, there is still essentially unlimited room to grow.

The crypto markets as this poster above talked about is a relatively untapped market. Yeah it has grown 12x+ this year already with room for more but still this is a young industry yet. I think that in 2018 we will see market

surpass 1 trillion and from there the true flood gates will open. I figure after 2018 unless you live under a rock or a tribe you will have heard about bitcoin it is that powerful.

Razick

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I heard this recently too. In fact I think it was an interview with this guy on Russia Today (RT) on YouTube. He is pretty much right except that crypto compared to the stock market is like nothing. All the cryptos in the world aren't even as big as Apple so if you think about it from that perspective, there is still essentially unlimited room to grow.

Goosebump

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Quote from: Xavofat on November 24, 2017, 03:19:39 PM

BTC is absolutely nothing like a stock, because it does not represent a centralised entity, while a stock does. A stock will always represent a centralised entity, while a (good) cryptocurrency will always be a decentralised network.

You can't measure the sales or profits of a cryptocurrency, nor can you measure the users or other fundamentals which are relevant to deciding a stock decision.

The exception to this is ICOs, but they involve a centralised entity who collects the funds, and it's only the token itself which can be decentralised.

Thank you for all of that information, I agree with the point you've made. What do you think about their new hedge fund, "Coinbase Custody"?

Topic: Coinbase CEO Brian Armstrong Says: Bitcoin & Cryptocurrencies are the new stock (Read 472 times)