Bought some Coinbase here at $311.

Bought some at 325 for a trade, turned into an 'investment'

I'm not enthused at COIN's long-term prospects. Their revenue is hyper-dependent on a business model that will see significant price pressure as competitors enter the space.

The company itself may continue to exist and do well for a long time, but the current valuation is extreme.

I am holding zom too lol

Ride or die

Or

Ride then die

This post was edited by Bazi on Apr 22 2021 09:57am

Yeah.

So I was listening to this podcast on the company and there are a few details that really stood out to me.

Between 80-85% of their revenue is from trading fees.
Their fees are 50x what most stockbrokers charge for trading.

I forgot who said it but there's a saying that your high margins are my opportunity. It's basically Amazon's business model for their e-commerce. They control the data on their marketplace and see which items are fetching high margins and they basically replicate those products cashing in while the seller sees his business dry up.

It's only a matter of time before the big dick brokers that have been doing this for eons are going to get into the crypto trading game. What's stopping TD
from adding crypto to their supported trading assets on top of stocks and bonds? Not much really, the only thing is regulatory uncertainty.

One thing that Coinbase IMO has going for them is the first-mover advantage. Their management is well aware that their revenue will have to be diversified, it's not like they're idiots. I do think there is a lot of untapped potential in the tech application of crypto and what role a company like Coinbase can play in that. I think the future of their business model is basically being that bridge between cool new crypto applications and the general investing world. They understand the lingo, they're plugged into the community, they can probably spot value much faster versus the suits at Goldman or Morgan Stanley.

This post was edited by ofthevoid on Apr 22 2021 10:12am

What in the hell happened in the last hour to make stonks fall across the board?

Oh, fookin' Biden's new tax plan. FFS

This post was edited by S3th on Apr 22 2021 12:12pm

Down quite a bit today.

This post was edited by obisent on Apr 22 2021 12:09pm

I hate Democrats. Yeah... let's eliminate the LT capital gains benefit for the wealthy.

I'm trying to think of the consequences on stocks here.

I think a lot of people could start harvesting huge gains now rather than wait for the tax hikes. After that i feel like people would be forced to hold even longer maybe for another republican before harvesting.

So maybe, some sort of dip before this is implemented then bull market till republicans change taxes back.

or take advantage of short-term market movements & move more money into a low inventory RE market where they can avoid capital gains altogether.