Re:Coinbase: The Heart of the Bitcoin Frenzy
by 40acres on Wednesday December 06, 2017 @09:03PM
(#15867014)
Coinbase seems to be the quintessential "sell shovels during a gold rush" company. Definitely provides a good case study about how to create a successful business during new industry booms.
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Re:Coinbase: The Heart of the Bitcoin Frenzy
by stephengillie on Wednesday December 06, 2017 @09:16PM
(#15867067)
The giant balance up top is an incredible FOMO machine. In the best findom/gamification, you can increase your "score" simply by giving them more money. The volatility makes the game more difficult to predict than most free-to-play games, but the daily graphs going up so fast make it hard to resist.
Re:Coinbase: The Heart of the Bitcoin Frenzy
by mancerayder on Thursday December 07, 2017 @10:53AM
(#15871093)
My brokerage account and bank accounts also display the balance. Sometimes at the top, sometimes in the middle. It's a UI decision, more than a FOMO game. With that mindset, capitalism itself is a FOMO and the balance at the top of your head (your net worth) the FOMO machine.
Re:Coinbase: The Heart of the Bitcoin Frenzy
by zzxxddere333 on Wednesday December 06, 2017 @09:44PM
(#15867202)
you mean... like most banking apps?
god forbid they make obvious what most users are using the app for.
Re:Coinbase: The Heart of the Bitcoin Frenzy
by latchkey on Thursday December 07, 2017 @02:32AM
(#15868356)
In my opinion, selling the miner hardware is more like selling the shovels. Coinbase is more like the laundry service.
I'm sure someone else can poke holes in this as well. =)
Re:Coinbase: The Heart of the Bitcoin Frenzy
by lallysingh on Thursday December 07, 2017 @06:56AM
(#15869311)
Let's be careful when taking about any kind of laundering when discussing Bitcoin :-)
Re:Coinbase: The Heart of the Bitcoin Frenzy
by latchkey on Friday December 08, 2017 @12:26PM
(#15880273)
The number one currency for evil purposes is and will be USD, for a very very very long time.
Re:Coinbase: The Heart of the Bitcoin Frenzy
by Cthulhu_ on Thursday December 07, 2017 @06:58AM
(#15869318)
Coinbase is the one that buys and sells gold though, they don't provide the miners or (personal) wallets. Incorrect analogy. The shovel sellers are the parties that sell mining hardware, GPU's and ASICs.