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Coinbase listing

Labeled as discuss in Cryptocurrencies and Digital Currencies, started by gotasale, Apr 15, 2021

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  1. gotasale

    gotasale Established Member ★★★★★★★★★★

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    I am from egypt

    It is illegal here to buy or sell cryptocurrency

    But it is legal to buy and sell usa stocks

    I just bought coinbase stock
    At 409$

    What you guys think ?

    Which do you think is more risky bitcoin or coinbase stocks ?
     
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  2. harshgupta

    harshgupta Top Contributor VIP Gold Account

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    that depends upon what pe and forward pe multiples the coinbase stock is bought at ..... imo
     
  3. gotasale

    gotasale Established Member ★★★★★★★★★★

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    It is my first time to buy stocks in usa market

    I saw a frenzy here and it is legal and it sounds like a profitable company with big potential growth
    So i decided to join. I couldn't hold myself

    I am still searching about usa stocks info and dividends...etc
     
    Last edited: Apr 15, 2021
  4. Samer

    Samer Top Contributor VIP

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  5. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    Here is my view on CoinBase.

    They are essentially an exchange. Right now then have a 0.46% revenue as % of volume. It is not sustainable.

    Their margins will end up getting squeezed just like stock exchanges did. As more competition enters the margin will go lower in a race to the bottom. The same thing happened with the stock market.

    The more expensive bitcoin gets, the more competition and the lower the margin will become.

    upload_2021-4-15_3-52-23.png

    At a valuation of $80B - $100B I think it is overvalued, by a significant amount. That still does not mean it can't go higher, at least in the short term.

    I am not a big fan of Bitcoin for a lot of reasons, mainly on the environmental impact side. However, I think it is a better investment than CoinBase at this valuation. The higher bitcoin goes the more competition and lower margins they will face.

    Brad
     
    Last edited: Apr 15, 2021
  6. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    The stock opened at $375. Peaked at $429, and closed at $328.
    It was kind of a rough first day of trading IMO.

    upload_2021-4-15_3-58-48.png
     
  7. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    If you can't invest in crypto directly there are other stocks like MARA, RIOT, and others you can invest in that are mining companies.

    There are also companies like Grayscale Bitcoin Trust (GBTC) that essentially just hold bitcoin and move up or down as bitcoin does.

    There are also ETF like BLOK that you might want to take a look at. They are invested in many companies in the field from fintech, mining, blockchain, etc. This is a good overall market play.
    https://amplifyetfs.com/blok-holdings.html

    Brad
     
    Last edited: Apr 15, 2021
  8. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    Last edited: Apr 15, 2021
  9. DanSanchez

    DanSanchez 48hr.com Bitcoin powered auctions Epik.com Staff VIP ★★★★★★★★★★

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    Fiat pollution makes this an extreme-overvalued asset because there is an of excess capital around the world earning nothing and losing to massive monetary inflation. I would steer clear of all equities and focus on stacking as much bitcoin as possible by earning it with your domain sales.

    Fun fact, Coinbase ($COIN) holds almost no Bitcoin ($130m worth) in it's balance sheet. They are the most anti-bitcoin company in the space and they peddle crapcoins as if they were comparable to Bitcoin.

    "Transaction revenue represented over 96% of the company’s total revenue." They might be in high-growth but they just revealed their business model is ripe for competition, everyone will want a piece of that pie.

    Check #deleteCoinbase on twitter, too.
     
  10. The Durfer

    The Durfer Top Contributor VIP Gold Account

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    you need to find a mutual fund that includes crypto in their portfolio, not the stock of one company. good luck..
     
  11. The Durfer

    The Durfer Top Contributor VIP Gold Account

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    tesla, rite off the bat has invested billions in it.
     
  12. Samer

    Samer Top Contributor VIP

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    Bitcoin writeup, written by an Ex CEO director.
     

    Attached Files:

    Last edited: Apr 15, 2021
  13. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    It is about the only thing profitable for Tesla. They still can't turn a profit by actually selling cars. :)

    They only barely turned a profit because of the renewable energy credits they get.

    I do find it amusing a "green" company which is getting renewable energy credits is investing in one of the dirtiest assets when it comes to energy consumption.

    Tesla also has a market cap of $700B. Basically bigger than all the other major car makers combined. Their bitcoin holdings are a tiny fraction of that.

    There are a lot better crypto investments than them.

    Brad
     
    Last edited: Apr 15, 2021
  14. equity78

    equity78 Top Member TheDomains Staff TLDInvestors.com PRO VIP ★★★★★★★★★★

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  15. The Durfer

    The Durfer Top Contributor VIP Gold Account

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    rite off the bat isnt a homerun unless it is. lol. :)
     
  16. jhm

    jhm Glazed

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    My opinion: If you want a stock as a store of value, stick with blue chip. I wouldn't touch Coinbase stock. Blue chip stock or a stock of a company that I believe in is my "thing". Believing in Coinbase, a company that owns your private keys...I despise exchanges. I despise margin trading. Crypto was designed to get rid of middlemen / counterparty, they are middlemen. I prefer owning Bitcoin than any stock, as a store of value
     
  17. Lox

    Lox _____ VIP Gold Account

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  18. The Durfer

    The Durfer Top Contributor VIP Gold Account

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    oh for sure, buy a 100 shares of microsoft and sit on it. but its fun to buy coinbase or something else like that, but thats like 10-25 shares. lol.
     
  19. The Durfer

    The Durfer Top Contributor VIP Gold Account

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    this is sad btw that there are still places in the world that arent free enterprise.
     

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