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(CNBC)   "Coinbase CEO says regulation is one of the biggest threats to crypto." thatsthejoke.jpg   (cnbc.com) divider line
    More: Facepalm, Andrew Ross Sorkin, public company, Coinbase CEO Brian Armstrong, start of the company, first major crypto company, biggest risks, policy folks, different countries  
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198 clicks; posted to Business » on 14 Apr 2021 at 9:46 AM (3 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2021-04-14 8:57:02 AM  
Then obviously it needs to be regulated.
 
2021-04-14 9:05:53 AM  
That thing is going to be $1000/sh by the end of the week. Nothing makes much sense anymore.
 
2021-04-14 9:21:24 AM  
Good. Fark them and anyone else into crypto. Your greed is not worth sacrificing the planet for.
 
2021-04-14 9:29:08 AM  
"We're very excited and happy to play by the rules"

Anyone that claims to be excited about following Sarbanes-Oxley is lying.  But then that's what CEOs do when they speak publicly: lie.
 
2021-04-14 9:30:55 AM  

cretinbob: Then obviously it needs to be regulated.


He's just in it for the vigorish.  They let everyone else take the risks.  For them, the more, the merrier.  No coin is too dodgy, as long as it can be converted to Bitcoin.
 
2021-04-14 9:34:08 AM  

NewportBarGuy: That thing is going to be $1000/sh by the end of the week. Nothing makes much sense anymore.


Wall Street has piled in, and that's really going to give Bitcoin legs to run up the price.  We could see Bitcoin at $500k per COIN, before it ends in tears.
 
2021-04-14 9:43:52 AM  

Marcus Aurelius: NewportBarGuy: That thing is going to be $1000/sh by the end of the week. Nothing makes much sense anymore.

Wall Street has piled in, and that's really going to give Bitcoin legs to run up the price.  We could see Bitcoin at $500k per COIN, before it ends in tears.


Trying not to imagine what I would have right now if I held mine.
 
2021-04-14 9:48:52 AM  

NewportBarGuy: Marcus Aurelius: NewportBarGuy: That thing is going to be $1000/sh by the end of the week. Nothing makes much sense anymore.

Wall Street has piled in, and that's really going to give Bitcoin legs to run up the price.  We could see Bitcoin at $500k per COIN, before it ends in tears.

Trying not to imagine what I would have right now if I held mine.


I have been told that somewhere in my house is a hard drive with a single bit coin on it.  I'm not going to look for it.  That's how excited I am about Bitcoin.

/but i have a lot of hard drives
 
2021-04-14 9:54:58 AM  

NewportBarGuy: That thing is going to be $1000/sh by the end of the week. Nothing makes much sense anymore.


I wanted to jump on the IPO, but when I saw it was starting at $250, I'd rather not go temporarily bankrupt trying to buy ten shares.  I'll wait on something more easily attainable.
 
2021-04-14 10:03:09 AM  

bluorangefyre: NewportBarGuy: That thing is going to be $1000/sh by the end of the week. Nothing makes much sense anymore.

I wanted to jump on the IPO, but when I saw it was starting at $250, I'd rather not go temporarily bankrupt trying to buy ten shares.  I'll wait on something more easily attainable.


If my theory is correct... there is a metric sh*tton of money sitting on the sidelines that rule they CAN'T purchase Crypto and have been waiting for an ETF or something like Coinbase to park their money as a percentage of their portfolio. If that money flows to Coin... that thing is going to get an insane valuation in a very short time.

Is it wildly overvalued? Yeah, but everything it. I mean DOGE is up like 100% in the past 24 hrs.

It's going to be wild.
 
2021-04-14 10:08:07 AM  

Marcus Aurelius: cretinbob: Then obviously it needs to be regulated.

He's just in it for the vigorish.  They let everyone else take the risks.  For them, the more, the merrier.  No coin is too dodgy, as long as it can be converted to Bitcoin.


They need to carry a certain amount of Bitcoin and other crypto to cover withdrawals and that in itself implies risk. Just managing crypto wallets is a ton of work. Just one mistake or bad actor can make those bitcoins disappear forever, and there's absolutely no way to get them back, nor is there a lender of last resort like banks have available.
 
2021-04-14 10:09:45 AM  

bluorangefyre: NewportBarGuy: That thing is going to be $1000/sh by the end of the week. Nothing makes much sense anymore.

I wanted to jump on the IPO, but when I saw it was starting at $250, I'd rather not go temporarily bankrupt trying to buy ten shares.  I'll wait on something more easily attainable.


Wait a month.  If you still like that company....

It was the same with other recent tech company IPOs (I guess Coinbase is tech company, or is financial services?) - Palantir comes to mind.
 
2021-04-14 10:30:49 AM  

neaorin: They need to carry a certain amount of Bitcoin and other crypto to cover withdrawals and that in itself implies risk


Their asses are WAY out on a limb here.  One slip, and it's all over for them.  Think Mt. Gox.  People can steal the coins, and if they're not spent, you can't even tell they've been stolen, until *poof* they're gone.
 
2021-04-14 10:42:47 AM  

Marcus Aurelius: Wall Street has piled in, and that's really going to give Bitcoin legs to run up the price.  We could see Bitcoin at $500k per COIN, before it ends in tears.


It will end in tears.  Bitcoin is not a currency or a commodity.  I think it will all go up in smoke eventually.
 
2021-04-14 11:40:56 AM  

Gruntbuggly: Marcus Aurelius: Wall Street has piled in, and that's really going to give Bitcoin legs to run up the price.  We could see Bitcoin at $500k per COIN, before it ends in tears.

It will end in tears.  Bitcoin is not a currency or a commodity.  I think it will all go up in smoke eventually.


I think it's time to stop predicting that and just get the jokes ready for if it does eventually happen since predicting "It's gonna collapse any day now" seems to not be that accurate
 
2021-04-14 11:49:47 AM  
I mean as best as i can tell only a real sucker gets in for the crypto as a consumer POV on currency.
Everything about trying to buy and use it on the consumer end is the worst nightmare of anti-consumer market there is to find.

imagine being just two checkouts back at the grocer store and by the time you get rung up the amount of money you had on you had lost enough value you could no longer afford everything in your cart.
It is so actively anti-consumer, that anyone backing the situaiotn is basiaclly a Sub, in a Dom/Sub relationship that actively seeks to be abused.
 
2021-04-14 12:07:55 PM  

PvtStash: I mean as best as i can tell only a real sucker gets in for the crypto as a consumer POV on currency.
Everything about trying to buy and use it on the consumer end is the worst nightmare of anti-consumer market there is to find.

imagine being just two checkouts back at the grocer store and by the time you get rung up the amount of money you had on you had lost enough value you could no longer afford everything in your cart.
It is so actively anti-consumer, that anyone backing the situaiotn is basiaclly a Sub, in a Dom/Sub relationship that actively seeks to be abused.


The knowledge that you could be a very rich man right now, with just a few wise investment choice earlier this year - must just burn deep deep down.  The worst part is, as the value soars, it will sting more each and every day that goes by.
 
2021-04-14 12:17:09 PM  
We already have enough securities laws. How about enforcing ones on the books? Hahahahabahaha. Yeah right.
 
2021-04-14 1:07:00 PM  

Karne: PvtStash: I mean as best as i can tell only a real sucker gets in for the crypto as a consumer POV on currency.
Everything about trying to buy and use it on the consumer end is the worst nightmare of anti-consumer market there is to find.

imagine being just two checkouts back at the grocer store and by the time you get rung up the amount of money you had on you had lost enough value you could no longer afford everything in your cart.
It is so actively anti-consumer, that anyone backing the situaiotn is basiaclly a Sub, in a Dom/Sub relationship that actively seeks to be abused.

The knowledge that you could be a very rich man right now, with just a few wise investment choice earlier this year - must just burn deep deep down.  The worst part is, as the value soars, it will sting more each and every day that goes by.



how did you get to crypto investment POV, when i was explicitly speaking about crypto as a currency for the consumer?

I can imagine maybe you didn't read it all real careful to understand the scope limitation here  cause you are the speculative gambler and didn't consider the other POV being addressed about crypto as a market currency for consumers?
 
2021-04-14 1:34:56 PM  
COIN just hit. Trading for $428/share outta the gate.
 
2021-04-14 1:40:22 PM  

AsparagusFTW: COIN just hit. Trading for $428/share outta the gate.


It's going to explode in value like a currency does!
 
2021-04-14 1:41:36 PM  

TDWCom29: AsparagusFTW: COIN just hit. Trading for $428/share outta the gate.

It's going to explode in value like a currency does!


Oh no! More purchasing power.

/the horror
 
2021-04-14 1:45:44 PM  

Marcus Aurelius: NewportBarGuy: Marcus Aurelius: NewportBarGuy: That thing is going to be $1000/sh by the end of the week. Nothing makes much sense anymore.

Wall Street has piled in, and that's really going to give Bitcoin legs to run up the price.  We could see Bitcoin at $500k per COIN, before it ends in tears.

Trying not to imagine what I would have right now if I held mine.

I have been told that somewhere in my house is a hard drive with a single bit coin on it.  I'm not going to look for it.  That's how excited I am about Bitcoin.

/but i have a lot of hard drives


Instead of thinking of it as a grotesquely filthy bitcoin, maybe you could look at it as $63,500 USD to try and generate the tiniest modicum of interest?
 
2021-04-14 1:58:22 PM  

AsparagusFTW: TDWCom29: AsparagusFTW: COIN just hit. Trading for $428/share outta the gate.

It's going to explode in value like a currency does!

Oh no! More purchasing power.

/the horror


I think you mean "More and then less and then more and then less and then more purchasing power"
 
2021-04-14 1:59:07 PM  

TDWCom29: AsparagusFTW: TDWCom29: AsparagusFTW: COIN just hit. Trading for $428/share outta the gate.

It's going to explode in value like a currency does!

Oh no! More purchasing power.

/the horror

I think you mean "More and then less and then more and then less and then more purchasing power"


I think youre trying too hard.
 
2021-04-14 1:59:33 PM  

Earl of Chives: Marcus Aurelius: NewportBarGuy: Marcus Aurelius: NewportBarGuy: That thing is going to be $1000/sh by the end of the week. Nothing makes much sense anymore.

Wall Street has piled in, and that's really going to give Bitcoin legs to run up the price.  We could see Bitcoin at $500k per COIN, before it ends in tears.

Trying not to imagine what I would have right now if I held mine.

I have been told that somewhere in my house is a hard drive with a single bit coin on it.  I'm not going to look for it.  That's how excited I am about Bitcoin.

/but i have a lot of hard drives

Instead of thinking of it as a grotesquely filthy bitcoin, maybe you could look at it as $63,500 USD to try and generate the tiniest modicum of interest?


You have obviously not seen my hard drive collection.  I have no idea how it started, but I have belts of RAM chips that are yards long, and massive piles of a large variety of hard drives.  And the hard drive in question is from a friend that was "using it for mining" and is "pretty sure" that there "might be" a coin on it.  It's somewhere in the box of drives he gave me, and he's "pretty sure" it still works.  If it hasn't been taken apart yet to make evil things from the neodymium magnets lurking inside.

Nope.  Hard no.  I hope it has a hundred bitcoins on it and they're lost to eternity.
 
2021-04-14 2:00:41 PM  

AsparagusFTW: TDWCom29: AsparagusFTW: TDWCom29: AsparagusFTW: COIN just hit. Trading for $428/share outta the gate.

It's going to explode in value like a currency does!

Oh no! More purchasing power.

/the horror

I think you mean "More and then less and then more and then less and then more purchasing power"

I think youre trying too hard.


You can never try to hard to make fun of "Bitcoin is a currency!" diehards
 
2021-04-14 2:19:31 PM  

Marcus Aurelius: Earl of Chives: Marcus Aurelius: NewportBarGuy: Marcus Aurelius: NewportBarGuy: That thing is going to be $1000/sh by the end of the week. Nothing makes much sense anymore.

Wall Street has piled in, and that's really going to give Bitcoin legs to run up the price.  We could see Bitcoin at $500k per COIN, before it ends in tears.

Trying not to imagine what I would have right now if I held mine.

I have been told that somewhere in my house is a hard drive with a single bit coin on it.  I'm not going to look for it.  That's how excited I am about Bitcoin.

/but i have a lot of hard drives

Instead of thinking of it as a grotesquely filthy bitcoin, maybe you could look at it as $63,500 USD to try and generate the tiniest modicum of interest?

You have obviously not seen my hard drive collection.  I have no idea how it started, but I have belts of RAM chips that are yards long, and massive piles of a large variety of hard drives.  And the hard drive in question is from a friend that was "using it for mining" and is "pretty sure" that there "might be" a coin on it.  It's somewhere in the box of drives he gave me, and he's "pretty sure" it still works.  If it hasn't been taken apart yet to make evil things from the neodymium magnets lurking inside.

Nope.  Hard no.  I hope it has a hundred bitcoins on it and they're lost to eternity.


Ah well, it's only money. Tell your friend the bitcoin community thanks him for his donation of lost coins.
 
2021-04-14 3:01:57 PM  
Well, that went over like a fart in church...
 
2021-04-14 4:00:09 PM  

NewportBarGuy: Well, that went over like a fart in church...


Buy the rumor, sell the news?
 
2021-04-14 6:00:50 PM  
I still don't see the point of currencies that are not used to buy anything.

at least gold has uses beyond being a store of value.
 
2021-04-14 6:06:08 PM  

cretinbob: Then obviously it needs to be regulated.


well, Banksters were regulated until the 80's.  that was when they began failing every 10 years or so and then the government they partly own runs to the rescue and throws public money at their feet.

and farkers whine about crypto.  i've yet to see a crypto company get bailed out by government public money.
 
2021-04-14 6:06:46 PM  

cretinbob: Then obviously it needs to be regulated.


5 to 10 years.
 
2021-04-14 6:08:04 PM  

Marcus Aurelius: NewportBarGuy: That thing is going to be $1000/sh by the end of the week. Nothing makes much sense anymore.

Wall Street has piled in, and that's really going to give Bitcoin legs to run up the price.  We could see Bitcoin at $500k per COIN, before it ends in tears.



Bankster tears because they've been removed as the middle guy between buyers and sellers.
 
2021-04-14 6:08:53 PM  

NewportBarGuy: Marcus Aurelius: NewportBarGuy: That thing is going to be $1000/sh by the end of the week. Nothing makes much sense anymore.

Wall Street has piled in, and that's really going to give Bitcoin legs to run up the price.  We could see Bitcoin at $500k per COIN, before it ends in tears.

Trying not to imagine what I would have right now if I held mine.


you Farked up
you listened to Farkers.
 
2021-04-14 6:10:14 PM  

Marcus Aurelius: NewportBarGuy: Marcus Aurelius: NewportBarGuy: That thing is going to be $1000/sh by the end of the week. Nothing makes much sense anymore.

Wall Street has piled in, and that's really going to give Bitcoin legs to run up the price.  We could see Bitcoin at $500k per COIN, before it ends in tears.

Trying not to imagine what I would have right now if I held mine.

I have been told that somewhere in my house is a hard drive with a single bit coin on it.  I'm not going to look for it.  That's how excited I am about Bitcoin.

/but i have a lot of hard drives


65 thousand dollar hard drive and counting............that is one expensive hard drive.
 
2021-04-14 6:12:55 PM  

dumbobruni: I still don't see the point of currencies that are not used to buy anything.

at least gold has uses beyond being a store of value.


people buy things with crpto. but its used mostly as an investment because of its increasing price.

once it starts losing its volitility then it will begin being looked at as currency.

if you had a dollar and it kept going up in value, would you spend it???
 
2021-04-14 6:13:43 PM  

Earl of Chives: NewportBarGuy: Well, that went over like a fart in church...

Buy the rumor, sell the news?


The News has been bought and paid for along time ago.
 
2021-04-15 8:07:48 AM  
If the FX market was as inefficient as crypto, banks would be able to skim $6 billion in profits per day from FX clearing and settlement alone

https://mobile.twitter.com/HannoLustig​/status/1382384839337201664
 
2021-04-15 9:09:55 AM  
That's their way of saying they took a short position, or plan to, on their own stock.
 
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