It takes time for price discovery - A simplification would be to imagine a simple moving average of say N, Sure it looks very smooth, but if you look at the very beginning where there was less then N datapoints it'll be all jagged because there's not enough data yet.
Yeah, which means that reporting the value of a security seconds after opening is an act of advertising, not one that evaluates the securities actual value.
> Yeah, which means that reporting the value of a security seconds after opening is an act of advertising, not one that evaluates the securities actual value.
Do you have any other way of evaluating it's value? You have to evaluate it somehow because it's worth more than 0, your broker can't give it to you for free. There is a real bid/ask spread, and I'm guessing you don't want to buy with no idea what price you're buying for.
The pricing is inefficient after opening but it's still real. Also who's to say it'll be over priced? It could just as well be underpriced immediately after listing. I'm not sure how this counts as "advertising"
Exactly. The last sale before it hit the market was... can't find the number but I think $340. So $250 was clearly a number invented just to create hype.
Pretty similar to Palantir's public open, which started at $9, jumped to a high of $45 before the employee blackout ended, and then settled into a stable rut around $23 it's been in since February.
It's a policy that prevents employees that have been awarded shares or options to immediately sell their shares once the company goes public to avoid it flooding the market and lowering the price.
When is Coinbase going to start working on the Portfolio section? It's been ass for years. A basic unfilterable list of transactions without the years is embarrassing.
> "Virtual money" is an oxymoron. Is a dollar in a bank account more virtual than a dollar bill or less virtual than a bitcoin?
I believe it's closer to a tautology (opposite of oxymoron, and by "closer" I mean that it doesn't stricly qualify as a tautology, but I believe that's the direction you intended), right? Because money is nothing more than a promise that people believe in. The value of money is entirely dependant upon people's confidence that they will be able to exchange it at some point for real goods.
Does anyone else remember as a kid giving your parents "coupons" that they could redeem for services later ("Two free lawn mowings")? If your parents believed that they could redeem those pieces of paper scribbled by a child, then that was "real" currency.
Ha, I thought you were criticizing Coinbase for now being denominated in a long-term worthless US dollar. Funny what happens once you realize that crypto is real money and fiat is imaginary...
> Ha, I thought you were criticizing Coinbase for now being denominated in a long-term worthless US dollar. Funny what happens once you realize that crypto is real money and fiat is imaginary...
On a long enough timescale all money becomes worthless. The currency of the universe, for instance, is entropy. Eventually the universe will succumb to heat death, at which point there will be no currency left to spend.
Entropy is the only true currency. All other currency is imaginary.
Actually, I think a large portion of the market has realized these are fake and just don't care. As long as everyone treats them like they're real, they're real. The risk is some sort of run on the bank where everyone tries to cash out to fiat, but I can't imagine what would cause that at this point.
Tether most of the time slightly valuable than real dolar which strongly indicate nobody printing tether to pump BTC.
It is well debated yet i havent seen any solid argument about fake tethers.
I also think cryptos will eventually crash but stable coins are real deal. They will be around even if people stop trading shitcoins.
They claim to have 46 billion dollars but are very shady about which bank it's supposed to be in. That's quite a large amount of money to hide, it's like claiming I have the Ever Given in my bathtub. Someone would notice.
That would be trivially easy to prove with a simple audit, which they have not done, so the default assumption must be that there is something fishy with them.
US deregulation would. Coinbase has a captive market. US customers would love to use one of the many much cheaper foreign exchanges but are prohibited from doing so.
