Bitcoin Forum

Well the day has finally come that the largest bitcoin exchange and one of ( if not the ) largest cryptocurrency exchange in the world, goes public.  If you aren't aware, IPO stands for Initial Public Offering.  There's a TON of hype about this IPO, not only in the "crypto space" but just overall.  I have had CNBC ( financial news channel ) on all morning and it's been a huge topic all week.

The estimates right now are that it will open at $340 per share.  So with that said, are you a buyer? Where do you think the price will end up at the close of today? 

Regardless of how you feel about Coinbase ( I personally despise the company ), this is good news for bitcoin and a big reason behind the recent surge.  Should be fun!

It should bring more attention & mainstream exposure to crypto. I know it’s a fiat based stock but what do you go to CB for? To buy crypto of course. Long term it’s another ingredient in the recipe for moon. Hopefully short term we get a pump once COIN launches.

Well Coinbase's COIN referral price has been set at $250 because 1700 employees have been given free shares, it has been set lower than pre-sale with low volume so far, roughly less than $4M, though The reference price should not be confused with the opening price, here they clarify it:

Source: https://cointelegraph.com/news/coinbase-s-coin-stock-reference-price-set-at-just-250-as-1-700-staff-get-free-shares (https://cointelegraph.com/news/coinbase-s-coin-stock-reference-price-set-at-just-250-as-1-700-staff-get-free-shares)

The listed price is expected to increase as it faces market movements, it is all a matter of waiting. At least many hope that it can hit the $340 price quickly and raise its market cap.

this is a very big news because this is yet another step in putting bitcoin on everyone's radar as a legitimate currency that exist. this excellent because after years of lies about bitcoin that have misled millions of people we need things that makes them think twice before believing the next lie.
eventually this will all help adoption grow with much bigger ease than before.

It's very tempting to pick up a few shares, it could be like the early days of Amazon but they are certainly pricing it very high. To see coinbase switch from a $45 million loss to a $409 million profit in the space of a year is pretty remarkable. Their fortunes are definitely tied in with the future of Bitcoin and that seems to be a runaway train right now. If the government can start taking a cut in taxes from these legitimized businesses in the cryptocurrency space it is very possible that they will impose much milder forms of legislation and avoid disastrous actions like an outright bitcoin ban. It is such a high margin business but it really needs to hold on to market share in future or it might get displaced and lose value. You have to wonder how much of a unique "moat" it has around the business because it feels like a lot of people will be trying to take their customer base in future. The price might hold in the $250-$350 region for a little while, because people have already dropped a lot of money into the market during the Covid recovery.

You have to remember that Coinbase won't want the price to move that far on the opening day, because it'll mean that they undersold their company effectively and other traders made profits due to their miscalculation.

Will there be a Coinbase crypto that eventually becomes available on various exchanges? If yes, I think that it's worth to keep an eye on it and maybe invest shortly after the initial hype is over and people get their time to dump the coins. With such a high initially set price, there's a chance it drops significantly shortly after it appears on exchanges and starts to actually be traded by people. So I think that investing right now would be premature and just following the overall hype which is unjustified. But perhaps investing a little later after seeing how it performs on exchanges is a good idea because strong coins backed by big companies tend to do well in terms of their prices.

I am not going to buy but I think that:

1) Price swings, especially at the beginning, can affect the price of Bitcoin.
2) If it goes well, we may see a boom of IPOs of crypto related companies.

i don't think so. we are not talking about the altcoin market or even the penny stocks that anyone just sells their shit there. we are talking about the stock market and the entry and success in there depends on the company itself.
of course if we have anything as big as coinbase that can prove some potential they can and will enter.

That's a historic incident for bitcoin in all true sense! A coin that has started its journey from 2009, can created so much impact in the financial world that a company based around this coin is listed in one of the most notable stock markets. Isn't that awesome!

Coinbase is definitely not a great choice of many. But I would rather see this event as an important milestone in bitcoin's history. The market has also responded in a positive way as you can all see now!

I don't like the current valuation, it feels extremely inflated. Coinbase might be worth 40-50 billion, and I think in the next 2-3 years it'll trend towards that range. Short term, it will rise with bitcoin, medium term it'll fall, very long term I am bullish that Coinbase will be worth well over 1T.

I saw it at $585 on coingecko, I am thinking is very high because of the hype. Seems not have followed the regular crypto starting launch and pricing. Let me see if it retracts in price, if it doesn't, I find a safe entry. I saw rumour that there could airdrop for coinbase traders.

Crazy!

Nah, I'm not a buyer but I'm like those people who would love such as good news as this. The mainstream media are on it and it's also the day when bitcoin reached another all time high.

Yes! It's another exposure for bitcoin as those stock investors have to research and learn that this company's business is pure into cryptocurrencies and with main crypto of all, bitcoin.

My thoughts would be that if we could get in it, we should get in because this is the lowest price that their stock will be and overtime, I am sure that it will grow exponentially and  I don't like missing out on something that can make me huge amounts of money.

I'd say that it is a pretty good news. It has given cryptos in general a huge exposure in the stocks market as well as in the public. Their financial are actually quite pretty but you have to keep in mind that their stocks would probably be closely related to the trend of cryptos, especially Bitcoin.

I personally wouldn't get into their stocks, they don't have especially crypto-friendly business practices and I'd rather just purchase Bitcoins directly than purchasing a stocks that would probably be following the trend.

I had no doubt that this news will have a positive effect, but some seemed to expect the price of BTC to react in a much stronger way than it actually did. In that sense, this news is not as strong as, say, PayPal or Tesla, but at least it helped us finally break the strong resistance that existed at $60k and keep the price above that level.

I’ve never been someone who buys stocks, and so it will be this time around - although I think a company like this has a pretty good chance of continuing to grow in the future. No matter what anyone thought of Coinbase, we can’t escape the facts that say they are currently the largest crypto exchange with around 1 million BTC in their wallets.

We all know how important it is to be your own bank when it comes to crypto, but it will take time for people to understand the difference between a bank and a crypto exchange - until then it is to be hoped that Coinbase will not become the next Mt.Gox.

I won't be a buyer not because I don't wish to but because of the price. But sure it will create more fire in the market because CB isn't a small exchange and it create huge volume for coins so I know it will have a huge market for its IPO.

I am really waiting for this project from Coinbase and it is clear that I will definitely become a buyer, because I am sure that the Coinbase project is definitely not bad to buy

I don't like Coinbase either, but business is business.
This being said, I won't be a buyer, at least not now.

Imho Coinbase is not a normal company and this is not a normal IPO. When Bitcoin price will fall and especially when a new crypto winter will come, I expect (I may be wrong though) that the shares will also fall.
If so, why shouldn't I just keep bitcoin instead, especially as I don't afford to diversify much.

Maybe during the next crypto winter Coinbase shares could be a good investment, at least until bitcoin new bull run will start. But that's speculation, hence it doesn't matter. Now, imho keeping bitcoin is better.

Definitely, this is a good move for the overall crypto industry. But I am not really familiar with the stock market, so I wouldn't invest in coinbase shares, unfortunately. I don't know why, but I am not interested to enter the stock market as well. Coinbase one of the largest crypto exchange we know, and that's the reason we have seen an impact on Bitcoin price last day. Most probably due to coinbase stock HYIP Bitcoin price has been moving upward. Anyway, this is good news for stock market traders who are interested to take shares from a crypto exchange. We can say it's a crypto adaption since many stockholders now familiar with a crypto exchange stock.

Am really considering given it a try, picking up a few for the future, who knows what will happen in the next 2 to 3 years, it can be more higher in price than this, coinbase is a reputable exchange and the first to have an IPO so i think the interest will be high. i don't even use coinbase but for the sake of making profit it won't be such a bad idear :D

The first time a company in the cryptocurrency sector goes public. This will be the first step for people to become more active in the crypto market.
Furthermore, Coinbase shares will be actively bought in by the crypto community, which is the same as the hype they have bought into new crypto projects. While it's not known how much the value of COIN (coinbase shares) will increase here, buying at current prices could help people make a profit.

Yeah I hear ya and mostly agree with everything you've stated above. Right now Coinbase is largely reliant upon bitcoin but they do have other coins, so it's not like it's completely reliant on bitcoin and I expect them to look for ways to branch out in to different avenues.  I'm not exactly sure which avenues but with all that revenue they should be able to find creative ways.

I went back and forth about investing but ultimately decided against it.  Since almost all of their profits are based on fees, I would see them facing more and more competition on that front as time goes on. 

Also since it seems like the price should fluctuate based on the crypto market, it feels better holding the actual crypto instead. 

I definitely still think the Coinbase IPO  marks a really important milestone for crypto as a whole.  It was definitely a good day for Marc Andreeson

I think not only Bitcoin benefits from this exposure but the whole cryptocurrency industry.  Coinbase being in service for a long time had proven its worth.  Many users may have a bad experience with this exchange but I believe there is far more users that are satisfied with its service, so I guess lots of people and institution will jump in to join the Initial Public offering. 

I know coinbase and know its credibility to take bitcoin become mainstreem even not bitcoin only there are also some altcoin that meet a huge increase when the coinbase try to list an altcoin to trade in the exchange.

Indeed, it is a good news for us or for crypto industry and we can deny that the recent surge is because this news come. Also, I just thinking that this trend will not gone for short time, this bull run will happen for long time.

It means, choosing long term investment for bitcoin or some altcoin is the right time. Although this news is about IPO but it will give a good impact for altcoin that has been traded either in Coinbase exchange or another crypto exchange.

For those who want to invest and very interested in buying Coin, Binance just included them in their stock tokens with Tesla which was the first one.

https://twitter.com/binance/status/1382704550788861953

https://www.binance.com/en/stock-token

They definitely will find ways. I suppose they are the best regulated exchange out there, meaning that they are the number one address for institutional investors for sure. Even if they only provide custody services to huge institutional customers, they'll generate constant income streams. Wanted to check what their initial evaluation is but as far as I know they are bigger than most banks after the IPO. 

Hopefully Satoshi is still alive and can see what he is responsible for! :P

On the other hand, Coinbase doesn't really stand for decentralization and freedom. If you look at it, they are pretty much like any bank taking any piece of data they can get from you and work together with analytics companies to really find out who exactly you are and what exactly you do...

How is Coinbase IPO related to Bitcoin bullrun?

These are fiat stocks that I would not buy, but with the IPO of coinbase, I also feel good about the increase in bitcoin. that way, bitcoin will be known more widely. If other exchanges such as Binance, Kraken, and others also follow these steps, the boom in bitcoin will also be even higher.

Why do you despise Coinbase , can you give a reason why? Is it because Coinbase is centralized (yep, I have seen people who don’t like it because it is centralized) or is it because you have had a different issues with them? I don’t hate their platform and it’s one of my favorite exchanges that I am making use of, and I have not had problems with them, and one thing I like about their platform is that they always makes sure to put security first by making sure that their platform is secure.

They have been doing really great and they are good at promoting themselves and helping the cryptocurrency community and market. I don’t really see anything that is wrong with them, but I understand everyone and personal issues.

Now there are many opinions on this matter, but I was interested in one that is mentioned in this article (https://cryptogeek.info/en/blog/coinbase-ipo) "Everything You Need to Know About Coinbase IPO". New Constructs CEO David Trainer says that the $100 billion valuation is a mathematical impossibility meaning that the hype is based on ill-founded calculations. It seems to me that this "expert" does not want to believe that the blockchain company has achieved such success.

Looking at it from my point of view as an ordinary person in IPOs, I think that Coinbase is starting to enter the market which will make digital assets more mainstream. at least for the future market cycle, maybe bitcoin will start to find a point of stability at a certain price level. https://www.cnbc.com/2021/04/14/coinbase-to-debut-on-nasdaq-in-direct-listing.html (https://www.cnbc.com/2021/04/14/coinbase-to-debut-on-nasdaq-in-direct-listing.html) Although this is only an estimate, with a market cap of $62 billion, it is a very good achievement for the IPO of a crypto exchange, which means that crypto will easily become more recognized and become more and more mainstream.

Coinbase is utterly corrupt, which amazes me that this hasn't been brought up at all on any of the financial news networks ( that I have seen) while this whole IPO talk has been going on.  When people ask me to give them examples of how they are corrupt I always tell them to first google "Coinbase complaints" and take a look at the countless issues people have had.

I was banned from Coinbase several years ago do to "activities they deem inappropriate...those activities?.. I was ordering allergy medicine from a LEGAL online pharmacy, but they didn't like it.  I've had countless buddies who've had funds locked and tied up for absolutely zero reason..and with countless attempts to contact Coinbase they simply get ignored.  One buddy has to file a legal complaint from his lawyer to get them to release his funds.  Another buddy who had been trying for well over 2 months to get his funds unlocked had to tweet Brian Armstrong ( CEO ) and once he made it public of all his issues they finally release them.  I've had other buddies who tried everything and literally were never given their funds back.

Lets talk about how they have had next to no customer service for years and years ( and STILL dont!)... you will be waiting weeks to months to hear anything back.  The fact that they don't have a phone line to call in to is insane for a company will a near 100 billion market share. 

How about the fact that Coinbase has had a freezing exchange for years and years.  They've been caught utilizing practices to benefit them before and just recently were.  Anyone with half a brain knows they've freeze their exchange on purpose to take advantage for themselves.

I could go on.  Moral of the story, try to avoid using Coinbase and if you do NEVER EVER leave your coins on the exchange!

I'd advise against investing in these "stock tokens". If you want to buy shares of a company, actually buy them through an actual stock broker. Also taking note that this is Binance, a kinda regulatory-controversial company.