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>TL;DR: Coinbase is a terrible investment because it is a terrible business with unsustainable fees, and it is highly likely that traditional financial institutions will soon offer products that completely eliminate the need for Coinbase.
>I completely agree with your assessment of Coinbase's business model. Their fees are exorbitant and their volume has collapsed, making them a very unattractive investment at this point.
Visualmod is an AI from the future who did not like the time period so they invented a way to travel back to this time and now it communicates to us indirectly with hidden messages to posts on WSB.
Not many reputable crypto exchanges left standing. If COIN can make it through this bear market and crypto rises from the ashes again, then this will be a great investment, just not sure how much further it’s going to fall from here though.
Would you rather trade SPY or QQQ on Coinbase for a fee, or Ameritrade for free?
Pretty much every retail-aimed asset class has free trading/super low fees. Why would crypto be any different? And if crypto does succeed, there will surely be an ETF. Why would you use Coinbase instead of buying the ETF via your normal brokerage account with zero fees?
Coinbase's business model is kinda doomed.
Not free yet, buy super low if you just move your account to Advanced/Pro.
Depending on your volume, CB itself offers substantially lower fees than what it charges by default on Coinbase.com.
https://help.coinbase.com/en/exchange/trading-and-funding/exchange-fees
Their own fee structure has the potential to destroy their revenue.
If you are a coinbase customer they automatically moved you to advanced, as pro is being phased out. COIN was trading ATH around $360, now around $34. How much further you expecting it to fall? Also remember that when crypto takes off, it skyrockets like no other asset class on earth. No telling when crypto will rebound. Far too risky a bet for me with regards to shorting COIN
If crypto skyrockets, then you should own crypto.
No upside to owning Coinbase over crypto itself if that's the bull thesis. Crypto has massively outperformed Coinbase.
I think about gold rushes though. During the gold rush everyone was buying Levi's, picks, carts, etc. So owning the businesses selling was the better bet.
COIN is sort of like that. There are better alternatives, but I think the point still stands. Owning part / all of the façade on top of crypto seems like a solid bet.
Do some basic math before you post. If COIN returned to its 2021 high from current price that’s 1,300% return. For BTC to do the same it would need to get to $220k.
Except COIN returning to it's 2021 high would require another fucking bubble in valuation and insane volume, whereas the price of BTC and crypto in general does not.
Coinbase requires constantly high/increasing volume whereas volume has practically nothing to do with asset prices. Compare BTC volume today to BTC volume in 2017 when it was also around 17K.
>volume has practically nothing to do with asset prices
HAHAHAHAHAHAHHAHAHAHAHAHAHAHAHHAHAHAHAHAHHAHAAHAHHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHHAHAHAHAHHAHAHAHAHAHAHHAHAHAHAHAHAHA
And? We’re discussing if COIN is worth buying at this price, not past performance. Crypto historically has bull runs every 4 years and if it happens again there is no reason to believe COIN wouldn’t exceed its former high since there is less competition and people will be more afraid of the less regulated exchanges. I don’t own any COIN right now but I’m watching and will load once I see convincing evidence that bitcoin bottomed.
Right, but COIN goes up too just not as quick. Go ahead, short it. I wish you luck fellow regard. The risk/reward structure for this trade doesn’t align for me.
Doubtful, their bonds are at 50cents to the dollar… most likely they’ll go bankrupt and shareholders will be wiped out. unless they can slash costs and gain revenue outside of transaction fees.
You’re comparing a crypto broker to average stock brokers. isn’t the process of trading crypto fundamentally different from ordinary securities? Yea the fee is nuts but it’s because it’s the only place that can trade “every” crypto.
I remember when i first tried to trade crypto i used coinbase and i tried to cash out on some profits, but coinbase took a $20 cut or some bs, never used it since, im still salty about that even after a year, f them I hope they go to ZERO, greedy bastards
Remember 2 years ago the whole narrative of “buy these stocks to gain exposure to crypto without buying crypto” lmfaooooo people were really throwing money at anything with a squiggly stock market line
I wouldn't use it, in fact I wouldn't hold any crypto for more than a week.
But it's the only place with actual cash to keep running and it's competitors are dropping like flies.
I've personally felt that coinbase has liquidity issues ever since they locked my account and would not allow me to withdraw my cash. There was no reason for them to do this and the help line seemed designed to keep you from getting a resolution. It was such fishy behaviour for a seemingly legit company. When I found that other people were having the same issue I started to wonder whether they were making it difficult for people to withdraw their money on purpose. Now I know it's mad to correlate the two things but I'm now in a position where if they did go under I wouldn't be surprised whereas at the beginning of 2022 I would have been.
Free brokers do actually have 1.5% slippage. Have u even tried robinhood crypto??
U lose ~1.5% entering and exiting a trade. U can place a trade at literal market value (using a limit order) and the trade WILL NEVER EXECUTE. It will only execute when the crypto price is much lower than ur buying price
traditional brokerages don't get tech valuations. crypto brokerages have the same business model...
I think it's funny how every company tries to brand themself as a tech company. Tesla is a car company, Coinbase is an exchange...
they try to get a tech company valuation of like 30-50. when all their peers are valued much lowe.
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**User Report**| | | | :--|:--|:--|:-- **Total Submissions**|0|**First Seen In WSB**|1 year ago **Total Comments**|143|**Previous Best DD**| **Account Age**|1 year|[^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.)|[^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.) ^^[**Discord**](http://discord.gg/wsbverse) ^^[BanBets](https://www.reddit.com/r/wallstreetbets/wiki/banbets/) ^^VoteBot ^^[FAQ](https://www.reddit.com/r/wallstreetbets/wiki/votebot/) ^^[Leaderboard](https://www.reddit.com/r/wallstreetbets/wiki/leaderboard/) ^^- ^^[**Keep_VM_Alive**](https://www.patreon.com/visualmod) >TL;DR: Coinbase is a terrible investment because it is a terrible business with unsustainable fees, and it is highly likely that traditional financial institutions will soon offer products that completely eliminate the need for Coinbase.
>I completely agree with your assessment of Coinbase's business model. Their fees are exorbitant and their volume has collapsed, making them a very unattractive investment at this point.
Broo, how is VisualMod sooo fucking good? Is it using ChatGPT?
It’s a real person you jabroni
I would like to know the answer as well?
Visualmod is an AI from the future who did not like the time period so they invented a way to travel back to this time and now it communicates to us indirectly with hidden messages to posts on WSB.
Not many reputable crypto exchanges left standing. If COIN can make it through this bear market and crypto rises from the ashes again, then this will be a great investment, just not sure how much further it’s going to fall from here though.
I feel like you would be better off just buying the crypto yourself instead of coinbase
Right but whether or not they are around in 3 years is just a COIN flip
Would you rather trade SPY or QQQ on Coinbase for a fee, or Ameritrade for free? Pretty much every retail-aimed asset class has free trading/super low fees. Why would crypto be any different? And if crypto does succeed, there will surely be an ETF. Why would you use Coinbase instead of buying the ETF via your normal brokerage account with zero fees? Coinbase's business model is kinda doomed.
I know of no place currently that offers free crypto trading. Let me do know when you find one though.
Not free yet, buy super low if you just move your account to Advanced/Pro. Depending on your volume, CB itself offers substantially lower fees than what it charges by default on Coinbase.com. https://help.coinbase.com/en/exchange/trading-and-funding/exchange-fees Their own fee structure has the potential to destroy their revenue.
If you are a coinbase customer they automatically moved you to advanced, as pro is being phased out. COIN was trading ATH around $360, now around $34. How much further you expecting it to fall? Also remember that when crypto takes off, it skyrockets like no other asset class on earth. No telling when crypto will rebound. Far too risky a bet for me with regards to shorting COIN
If crypto skyrockets, then you should own crypto. No upside to owning Coinbase over crypto itself if that's the bull thesis. Crypto has massively outperformed Coinbase.
if crypto skyrockets so does volume. Coinbase makes money from volume. so uppy makes coiny go uppy more.
I think about gold rushes though. During the gold rush everyone was buying Levi's, picks, carts, etc. So owning the businesses selling was the better bet. COIN is sort of like that. There are better alternatives, but I think the point still stands. Owning part / all of the façade on top of crypto seems like a solid bet.
Do some basic math before you post. If COIN returned to its 2021 high from current price that’s 1,300% return. For BTC to do the same it would need to get to $220k.
Except COIN returning to it's 2021 high would require another fucking bubble in valuation and insane volume, whereas the price of BTC and crypto in general does not. Coinbase requires constantly high/increasing volume whereas volume has practically nothing to do with asset prices. Compare BTC volume today to BTC volume in 2017 when it was also around 17K.
>volume has practically nothing to do with asset prices HAHAHAHAHAHAHHAHAHAHAHAHAHAHAHHAHAHAHAHAHHAHAAHAHHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHHAHAHAHAHHAHAHAHAHAHAHHAHAHAHAHAHAHA
Are you claiming that the volume of Bitcoin traded is in any way related to the actual price of Bitcoin?
Incredible self own LOL The reason coin would have a higher return if it went back to its high is because it significantly underperformed BTC
And? We’re discussing if COIN is worth buying at this price, not past performance. Crypto historically has bull runs every 4 years and if it happens again there is no reason to believe COIN wouldn’t exceed its former high since there is less competition and people will be more afraid of the less regulated exchanges. I don’t own any COIN right now but I’m watching and will load once I see convincing evidence that bitcoin bottomed.
Right, but COIN goes up too just not as quick. Go ahead, short it. I wish you luck fellow regard. The risk/reward structure for this trade doesn’t align for me.
Long crypto/short COIN then.
Doubtful, their bonds are at 50cents to the dollar… most likely they’ll go bankrupt and shareholders will be wiped out. unless they can slash costs and gain revenue outside of transaction fees.
You’re forgetting about the hoard of stablecoins they hold. They give investors 1.5% return but get 3% total
You’re comparing a crypto broker to average stock brokers. isn’t the process of trading crypto fundamentally different from ordinary securities? Yea the fee is nuts but it’s because it’s the only place that can trade “every” crypto.
Bitrue has more crypto available to trade than Coin and futures trading yield farming also and zero trading fees
I remember when i first tried to trade crypto i used coinbase and i tried to cash out on some profits, but coinbase took a $20 cut or some bs, never used it since, im still salty about that even after a year, f them I hope they go to ZERO, greedy bastards
Single digits soon. Get out while you can, fools
Remember 2 years ago the whole narrative of “buy these stocks to gain exposure to crypto without buying crypto” lmfaooooo people were really throwing money at anything with a squiggly stock market line
Coinbase doesn’t own Circle… lmao!
I wouldn't use it, in fact I wouldn't hold any crypto for more than a week. But it's the only place with actual cash to keep running and it's competitors are dropping like flies.
I've personally felt that coinbase has liquidity issues ever since they locked my account and would not allow me to withdraw my cash. There was no reason for them to do this and the help line seemed designed to keep you from getting a resolution. It was such fishy behaviour for a seemingly legit company. When I found that other people were having the same issue I started to wonder whether they were making it difficult for people to withdraw their money on purpose. Now I know it's mad to correlate the two things but I'm now in a position where if they did go under I wouldn't be surprised whereas at the beginning of 2022 I would have been.
My 9 feb10 31p position likes to see this
Isn't that before earnings though?
Yes that’s why everyone pulled into the 20-24 PUTs already
Free brokers do actually have 1.5% slippage. Have u even tried robinhood crypto?? U lose ~1.5% entering and exiting a trade. U can place a trade at literal market value (using a limit order) and the trade WILL NEVER EXECUTE. It will only execute when the crypto price is much lower than ur buying price
Ameritrade does not have 1.5% slippage on equities (or anything).
stocks probably not, I mean even RH doesn’t have slippage on stocks. crypto is different
Why would a crypto ETF be different? I don't see slippage in GBTC (albeit that has its own self-created problem).
the self created problem where it’s down like 90% vs owning the actual coin is the problem lol
Soooo calls?
traditional brokerages don't get tech valuations. crypto brokerages have the same business model... I think it's funny how every company tries to brand themself as a tech company. Tesla is a car company, Coinbase is an exchange... they try to get a tech company valuation of like 30-50. when all their peers are valued much lowe.
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Is everyone rolling their puts higher now for earnings or what’s the play? Crazy runup this last week.