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A comment on Coinbase from YC to DPO. Parent comment

Re:Coinbase from YC to DPO by FabHK on Wednesday April 14, 2021 @05:51PM (#26813563)
Agreed. As I've pointed out elsewhere, Coinbase trading fees are about 60x those of NYSE, Nasdaq, etc.; and Coinbase siphons off about 0.4% of the entire crypto market cap per annum.

I don't see how that is sustainable at all.

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Re:Coinbase from YC to DPO by solveit on Wednesday April 14, 2021 @08:43PM (#26814933)
It's not. But it doesn't have to be sustainable to justify the current valuation. Indeed if it were sustainable, Coinbase would be worth many many times what it is now.
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Re:Coinbase from YC to DPO by FabHK on Thursday April 15, 2021 @06:11AM (#26818486)
What P/E ratio do you calculate with? IIRC, a normal valuation (not predicated on growth) would value it at a quarter of what it is now.
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