Comments on: Coinbase as the Amazon of Crypto

By: Lee

Lee — Fri, 03 Jun 2022 01:37:22 +0000

I would rate Coinbase as probably the worst exchange for someone who has been in cryptocurrencies for more than a hot minute. If you’re a total noob with no friends in crypto then fine. Do it. Pay that fat fee for them to hold your hand. But Coinbase is bad not only for the disadvantages noted in the article but also for the absolute duplicity of their position v-a-v moving humanity toward a sound money system. No matter what words come out of their CEO, he is establishing his exchange as just another intermediary between people and their wealth… aspiring to be another big bank. Las Vegas is not as big and shiny as it is because the house loses. Same goes for Coinbase. #btc

By: Bob Adams

Bob Adams — Sun, 29 May 2022 05:21:16 +0000

I bought $5k of SOL in $1k increments, but then all of a sudden I was limited to a max of $250 purchase on Coinbase. An inquiry to their support said only that limitations of purchases were set by an algorithm and that no other explanation would be forthcoming. Kind of insulting. Can’t think of a successful business model that would limit a legitimate buyer from purchasing a product.

By: Jay Riley

Jay Riley — Fri, 27 May 2022 21:54:16 +0000

In reply to Bob.

Coinbase so far has made their site the easiest to use for me (a crypto newbie who self-identifies as a computer wiz).

Their business model seems not to care I have no money to convert from fiat to crypto at the moment. They seem to be doing tidy business getting crypto startups to have them offer someone like me “earn and learn” — making a few US$ equiv in the sponsoring currency for watching a few slides and taking a quiz.

I converted most of the the initial $20 earned to fiat and spent it, but realized I could use it for “staking” (allowing me to accept XLM$ in Coinbase Wallet which they just bought, formerly “Bread Wallet”).
Now I’m converting everything I get to Bitcoin and plan to use it to practice sending to/from a private wallet. They’re creating good will and positively reinforcing using the service with the occasional scratch off ticket level rewards. They’re hoping I’ll feel warm and fuzzy enough to upgrade to their premium “Coinbase One” membership. It may work. 🙂

By: Mark E. Jeftovic

Mark E. Jeftovic — Fri, 27 May 2022 18:35:44 +0000

In reply to Bob. I also like Binance, and have often wondered: if Binance Smart Chain is simply a fork of Ethereum, why can they run it with negligible gas fees while Ethereum gas is still in the stratosphere. Alas, I live in the nanny state of Ontario, so at the moment I can't deposit anything there.

By: Bob

Bob — Fri, 27 May 2022 18:31:13 +0000

I’ve never used coinbase, I’m a big believer in Binance, the original global service provider, not the US version. I know it’s not fully regulated by the west yet, but to me that is a major part of its charm. The liquidity is unbelievable, the stable coin was in the top 5, and they offer a myriad of staking, nft and api services too. I also use multiple ledgers to keep things safe when times call for it. So overall they are great and they have such a good thing going that I believe they would never jeopardize that for anything.

By: Andrew

Andrew — Fri, 27 May 2022 17:19:21 +0000

An old wine in new bottles ?

Positive returns to scale and network externalities both in play.

Separately, what does it mean to be a “macroeconomics researcher in the cryptocurrency media space ” ?

Macroeconomics from a textbook perspective is overwhelmingly academic Keynesianism. Which is now widely understood to have collapsed.

Not clear to me why this is a valid framework to research cryptocurrency. I would have stared rather with F. Hayek.