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A comment on Coinbase from YC to DPO. Parent comment

Re:Coinbase from YC to DPO by kirbypineapple on Wednesday April 14, 2021 @06:08PM (#26813719)
Bitcoin alone is worth over 1T, so your statement that all of crypto is worth less than 1T is a bit silly. The goal posts keep moving for crypto...next year it'll be that crypto is worth less than 5T, etc.

I looked at the NYSE daily volumes...unless I'm reading them wrong, they did $800m USD worth of trades today. Coinbase did $5b USD worth of trades today. So if you compare a company that's almost 200 years olds volume against a 9 year old company, and find that the startup is doing more than 5 times the volume of the incumbent (with zero lock in, since clients are free to trade cryptos on any exchange), then I'd say your comparison is actually a ringing endorsement for Coinbase.

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Re:Coinbase from YC to DPO by selectodude on Wednesday April 14, 2021 @06:55PM (#26814133)
You are reading them wrong. The NYSE traded 971 million shares of stock today worth $51 billion. That's just the NYSE, too. ARCA and ICE are owned by them as well.

https://www.nasdaqtrader.com/trader.aspx?id=FullVolumeSummar...

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Re:Coinbase from YC to DPO by weird-eye-issue on Wednesday April 14, 2021 @07:18PM (#26814317)
"I looked at the NYSE daily volumes...unless I'm reading them wrong, they did $800m USD worth of trades today"

You are orders of magnitude off here. If you really think the stock market is that small you probably shouldn't be here commenting about it

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Re:Coinbase from YC to DPO by knowaveragejoe on Wednesday April 14, 2021 @06:22PM (#26813827)
FWIW, I think that total of $800m is purely stock trades and not the sum total of money moving through NYSE. According to wikipedia they were moving $130bn in 2013.

https://en.wikipedia.org/wiki/New_York_Stock_Exchange

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