Re:Coinbase S-1
by RestlessMind on Thursday February 25, 2021 @01:47PM
(#26266510)
> What exactly has been achieved?
A new asset class (like Gold) which everyone wants to invest in because they think everyone else values it (just like Gold). And with a few benefits over Gold like it can be transferred easily.
That this has sustained for 12 years is amazing and the longer it stays, the longer it will further stay.
Re:Coinbase S-1
by arcticbull on Thursday February 25, 2021 @04:11PM
(#26268391)
> A new asset class (like Gold) which everyone wants to invest in because they think everyone else values it (just like Gold). And with a few benefits over Gold like it can be transferred easily.
haha, I've never had trouble buying and selling GLD instantly. Gold futures too! My broker charges a few pennies.
On the other hand a BTC transaction uses 600kWh of power, yields 100g of e-waste, takes hours to confirm and $20 in fees. Yay! What a time to be alive. I'm sure glad we went through all this consternation.
> That this has sustained for 12 years is amazing and the longer it stays, the longer it will further stay.
Madoff lasted 17! :)
- Scaling solution: Visa.
- Custody: BNY Mellon.
- Trading: Centralized, trustful exchanges.
- Unlimited money printer: Tether.
- The same insane unregulated over-leveraged garbage derivatives products that triggered this whole horror show in 2008: DeFi.
- Volatility: Unbelievable.
What exactly has been achieved? This is the first IPO I plan to short on day one.