April 14, Coinbase IPO and pump on bitcoin?

[SaShiRaJaVu]

I guess we were not on the same context with the word top. What I meant was the top as in top. And its current ATH is definitely not its top. It would definitely grow more than that.

I like the play of words, could you elaborate that is in bold letters . According to you what is the expected valuation the price could rally, since it is a speculations thread you will hear many opinions about their all time high valuation that could be attained in this rally.

The coinbase IPO is the reason for the market to reach new levels but now we are seeing a minor correction and i am not too optimistic about the price reaching hundred thousand during this rally.

[1714840607]

1714840607

[tokeweed]

Coinbase shares opened at $381, giving Coinbase an opening market cap of $99.6 billion. It quickly shot up to $420+ per share, currently right around $400/share.


Based on the actual earnings of the business it should be valued at probably like $20 billion. So basically investors of Coinbase are saying they believe the company will explode as crypto explodes over the long term, and are pricing that in right now.

One minute chart.  It’s the post market rn and I don’t think stock traders are excited about Coinbase or as excited about it being a crypto company...  We could see it bleed for the next few days.

[thecodebear]

Coinbase shares opened at $381, giving Coinbase an opening market cap of $99.6 billion. It quickly shot up to $420+ per share, currently right around $400/share.


Based on the actual earnings of the business it should be valued at probably like $20 billion. So basically investors of Coinbase are saying they believe the company will explode as crypto explodes over the long term, and are pricing that in right now.

One minute chart.  It’s the post market rn and I don’t think stock traders are excited about Coinbase or as excited about it being a crypto company...

The problem is they just priced it wayyyyy too high. They just wanted the private investors to be able to sell off at a super high price. A $20 billion valuation would have made more sense and given it a chance to do well when it went public.

[thecodebear]

The coinbase IPO is the reason for the market to reach new levels but now we are seeing a minor correction and i am not too optimistic about the price reaching hundred thousand during this rally.

No need to worry about that. Bitcoin was about to pop up regardless of whether the Coinbase public offering was coming or not. It had been building support in the $50,000s for most of the past two months, it was only a matter of time before it resumed pushing to new ATHs. And $100k is nothing. It'll easily blow past that this year. I mean if by "this rally" you mean in the next few weeks, then yeah of course not, but $100k this summer is likely. Bitcoin over the long term can only go up.

[LUCKMCFLY]

The first day of Coinbase's COIN has not been easy, in the first hours of the launch it had good receptivity, but many important movements have happened:

COIN began trading significantly higher than the $250 reference stock price assigned by Nasdaq prior to the market open, rising quickly to around $430. The price fell sharply within the first few minutes of trading however, and sits at $381 at time of publication.

Source: https://cointelegraph.com/news/coinbase-s-coin-stock-trading-on-nasdaq-is-off-to-a-rocky-start

There is still a long way to go, it is just the first day and it has not been a bad way, it has already been listed and investors already have an idea of COIN, now, we have to wait this week to see how much it can close, if it is to the downside or upside, everything is to wait, as this panorama can be seen, little by little they will be trading much more.

[bbc.reporter]

This might be a government or a banker backed hit report to criticize bitcoin as the American stock market was closing. This article has wrong assumptions like proof of work was intentionally designed to be inefficient. It is arguable if intentional from a cost of electricity per transaction basis because it is necessary for security.

However, my favorite assumption is this below hehehehehe.



The world’s second-largest cryptocurrency by market capitalization, Ethererum, has said it is moving toward proof of stake (that switch is likely to take up to another year), and Bitcoin is expected to eventually follow.

Source https://www.nytimes.com/2021/04/14/climate/coinbase-cryptocurrency-energy.html

[bbc.reporter]

@3meek. COIN is down again on day 2 on the Nasdaq. Similar to much of the coins in the cryptospace, COIN might be lacking value investors who would hold it longterm. It would not be shocking if this was pumped and dumped in the next few weeks by speculators behaving similarly as the whales of the cryptospace.

[Kemarit]

@3meek. COIN is down again on day 2 on the Nasdaq. Similar to much of the coins in the cryptospace, COIN might be lacking value investors who would hold it longterm. It would not be shocking if this was pumped and dumped in the next few weeks by speculators behaving similarly as the whales of the cryptospace.

I think Bitcoin current dip was due to a report that Bitcoin Crashes after Accident in Xinjiang. On the other hand, while Cathie Wood's Ark funds bought a big stake in Coinbase.

So I guess we are going to see some good pump next week, because of this news. It closed with a 5% gained already.

[bbc.reporter]

@Kemarit. That is certainly good news but I bring you the bad news hehehe. I saw this, however, I do not know where the source of this is. Does anyone know the website to get this information?

Coinbase CFO dumped 100% his COIN. Coinbase CPO dumped 97% hehe.



Source https://mobile.twitter.com/DereckCoatney/status/1383440872679739394

[rhomelmabini]

Coinbase CFO dumped 100% his COIN. Coinbase CPO dumped 97% hehe.

They dumped so when they get to the point that most of their investors are selling they'll buy it again, pretty old tricks. I don't know if the current dump of Bitcoin to $50k this day was due to this but I think it's way too related.

[virasog]

Coinbase CFO dumped 100% his COIN. Coinbase CPO dumped 97% hehe.

They dumped so when they get to the point that most of their investors are selling they'll buy it again, pretty old tricks. I don't know if the current dump of Bitcoin to $50k this day was due to this but I think it's way too related.

Another thing to think is that this dump happened on Sunday when the financial markets are closed and big institutions cannot dump their coins. 

The big question is how will the market open trading on Monday ? We are yet to witness that .

[estenity]

Coinbase CFO dumped 100% his COIN. Coinbase CPO dumped 97% hehe.

They dumped so when they get to the point that most of their investors are selling they'll buy it again, pretty old tricks. I don't know if the current dump of Bitcoin to $50k this day was due to this but I think it's way too related.

Another thing to think is that this dump happened on Sunday when the financial markets are closed and big institutions cannot dump their coins. 

The big question is how will the market open trading on Monday ? We are yet to witness that .

if it has not changed, bankers resume work on sunday evening since aperture of bitcoin futures.

[estenity]

At first I thought Coinbase IPO was positive news in the market, but now I'm inclined to think that it's this news that we see the current price drop... COIN stocks are a legal way to cash in a huge amount of cryptocurrencies, of which Coinbase has a lot! It's possible that the market was pumped up for six months for this... Anyway, the situation is very similar to 2017, when CME futures were launched...
In my opinion everything is not clear-cut here...

coinbase is not a very big exchange, in comparison with some giants,
it is mainly a gate of entry in the crypto universe.

[crzy]

At first I thought Coinbase IPO was positive news in the market, but now I'm inclined to think that it's this news that we see the current price drop... COIN stocks are a legal way to cash in a huge amount of cryptocurrencies, of which Coinbase has a lot! It's possible that the market was pumped up for six months for this... Anyway, the situation is very similar to 2017, when CME futures were launched...
In my opinion everything is not clear-cut here...

coinbase is not a very big exchange, in comparison with some giants,
it is mainly a gate of entry in the crypto universe.

The IPO is just on a bad timing where we heard a lot of bad news with regards to Bitcoin and that’s why the market didn’t react that much but sooner of later, once everything is settled the IPO of coinbase is a big thing. This is a new legal way to attract investors to come into cryptomarket, whales are seeing this positively for sure.

[ololajulo]

I guess we were not on the same context with the word top. What I meant was the top as in top. And its current ATH is definitely not its top. It would definitely grow more than that.

I like the play of words, could you elaborate that is in bold letters . According to you what is the expected valuation the price could rally, since it is a speculations thread you will hear many opinions about their all time high valuation that could be attained in this rally.

The coinbase IPO is the reason for the market to reach new levels but now we are seeing a minor correction and i am not too optimistic about the price reaching hundred thousand during this rally.

It is even of some opinion of insiders that the IPO made huge money for Armstrong than we think, considered a manipulative move. He sold 5 billion of the token on IPO to acquire bitcoin, the veracity of the information cant be ascertain but there is possibility. Binance is the only exchange that keeps surprising me the token economics that seems not to benefit team and founder. The pump shortlived and had produced the largest single dump with hash rate.

[bbc.reporter]

At first I thought Coinbase IPO was positive news in the market, but now I'm inclined to think that it's this news that we see the current price drop... COIN stocks are a legal way to cash in a huge amount of cryptocurrencies, of which Coinbase has a lot! It's possible that the market was pumped up for six months for this... Anyway, the situation is very similar to 2017, when CME futures were launched...
In my opinion everything is not clear-cut here...

coinbase is not a very big exchange, in comparison with some giants,
it is mainly a gate of entry in the crypto universe.

Was the listing of bitcoin futures on CME made on December of 2017? I am not quite certain but I remember it was May 2017. In any case, this would be a strange coincidence if the bear market really begun on April 14, the day of Coinbase IPO. I reckon we should not be excited for an ETF hehehehe.

[pooya87]

The world’s second-largest cryptocurrency by market capitalization, Ethererum, has said it is moving toward proof of stake (that switch is likely to take up to another year), and Bitcoin is expected to eventually follow.

Source https://www.nytimes.com/2021/04/14/climate/coinbase-cryptocurrency-energy.html

Another article by idiots who have no idea how bitcoin and the blockchain technology works.
A centralized shitcoin with a massive premine is trying to increase the power of the owners of those premined coins in having more control over their centralized network so they have chosen an algorithm called Proof of Stake which not only rewards the richest people who own the most amount of that shitcoin (ie. the premine owners) but also gives them much bigger power in controlling the network at virtually no cost while earning money!
Bitcoin will never do such a thing.

[estenity]

At first I thought Coinbase IPO was positive news in the market, but now I'm inclined to think that it's this news that we see the current price drop... COIN stocks are a legal way to cash in a huge amount of cryptocurrencies, of which Coinbase has a lot! It's possible that the market was pumped up for six months for this... Anyway, the situation is very similar to 2017, when CME futures were launched...
In my opinion everything is not clear-cut here...

coinbase is not a very big exchange, in comparison with some giants,
it is mainly a gate of entry in the crypto universe.

Was the listing of bitcoin futures on CME made on December of 2017? I am not quite certain but I remember it was May 2017. In any case, this would be a strange coincidence if the bear market really begun on April 14, the day of Coinbase IPO. I reckon we should not be excited for an ETF hehehehe.

yes, according to my notes, launch of BTC futures was done on 10 and 17 december 2017.
however i have not kept the notice.

EDIT: looking at it, i found that:
https://bitcointalk.org/index.php?topic=178336.msg26490031#msg26490031

[Karartma1]

Coinbase pumped the price to ATH, Armstrong sold his shares at the top, Bitcoin went nuts, then a Chinese coal mine blew up, the hashrate dropped hard, the price plunged and Doge is still fucking going high.
My question is, what's wrong with the world?

[bitgolden]

The world’s second-largest cryptocurrency by market capitalization, Ethererum, has said it is moving toward proof of stake (that switch is likely to take up to another year), and Bitcoin is expected to eventually follow.

Source https://www.nytimes.com/2021/04/14/climate/coinbase-cryptocurrency-energy.html

Another article by idiots who have no idea how bitcoin and the blockchain technology works.
A centralized shitcoin with a massive premine is trying to increase the power of the owners of those premined coins in having more control over their centralized network so they have chosen an algorithm called Proof of Stake which not only rewards the richest people who own the most amount of that shitcoin (ie. the premine owners) but also gives them much bigger power in controlling the network at virtually no cost while earning money!
Bitcoin will never do such a thing.

I wouldn't presume to know what will happen to bitcoin, I mean anything could happen, it is something I do not control. But come on! Bitcoin on proof of stake? That sounds as unreasonable as it gets, we are talking about something that is impossible for bitcoin.

I do think that ethereum proof of stake is not done by just rich people, there are tons of poor people who are fed up with the fact that it costs a lot to use ethereum right now, I tried to send $20 usdt today and it asked $40 for it, how does that make sense at all?

I ended up using BSC instead but it is seriously horrible at ETH right now, if you are dealing in thousands and many people do, you may not care about it, but smaller transactions can't happen there at all anymore. Which is why I think proof of stake was wanted by rich whales who wanted money plus the very low amount people who wanted to be involved.