Jim Chanos on Coinbase: It's not a good business model

[Pekelo]

Coinbase isn't failing because some people use crypto for gambling.

Never said that, but hey, never miss an opportunity for a strawman.

Another way a casino can lose money is having too many of them. Atlantic City anyone? So just because Binance has made good money in the past, that doesn't mean over saturating the broker field (aka competition) their business will stay profitable for them.

Not being a public company, we have to take their word just how profitable they are... Yeah a crypto firm's word, worth as much as their NFT.

 

[RedDuke]

.... But there is real technology under the hood that solves real problems. .......

Still waiting to learn about single problem crypto solved

 

[FreeGoldRush]

Still waiting to learn about single problem crypto solved

You don't wait for it you go study it. The math is complex. I'm not willing to believe you are some genius that understands all this and has nothing left to do with his brain other than wait. lol. Did you wait for 14 nm cpus? Probably not. Unless you are a tech geek you probably had no idea why computers were getting faster. Waiting isn't likely to get you the answers you want.

 

[patrickrooney]

Binance Smart Chain, since rebranded to BNB Chain, was a game changer. The exchange and their token, BNB, are the focal point of the dApp revolution. Ethereum dApps offer very little to Coinbase while BNB dApps are built into the Binance ecosystem.

 

[deaddog]

Still waiting to learn about single problem crypto solved

I don't think Crypto has solved any problems but it is creating quite a few.
You hear that sucking sound? That's the sound of the government getting involved protecting us from ourselves.

 

[The_Krakenite]

I have no faith in CEO of Coinbase. Ever since he did the same shit as Trevor with Nikola.

If you have full faith in your company, what are you doing selling your shares for? Why is your mansion taking priority over your work ethics, etc...

 

[RedDuke]

You don't wait for it you go study it. The math is complex. I'm not willing to believe you are some genius that understands all this and has nothing left to do with his brain other than wait. lol. Did you wait for 14 nm cpus? Probably not. Unless you are a tech geek you probably had no idea why computers were getting faster. Waiting isn't likely to get you the answers you want.

exactly my point and typical answer. I understand tech very well but crypto did not solve a single problem that existed and actually created a lot more

 

[orbit23]

Still waiting to learn about single problem crypto solved

It removes the need for a trusted third party. Instead of needing a bank to keep balances and verify(send) transactions, you can use blockchain. Miners verify the transactions, but in a trustless process as proofs are cryptographic.

Decentralization makes it censorship resistant.

 

[RedDuke]

It removes the need for a trusted third party. Instead of needing a bank to keep balances and verify(send) transactions, you can use blockchain. Miners verify the transactions, but in a trustless process as proofs are cryptographic.

Decentralization makes it censorship resistant.

And what issue 3rd party causes? What if someone makes a mistake? Crypto is gone! Bank you will always get your money back. Zelle works instant, wires are free and can be done from bank app.

main question, what issue did crypto solve????

 

[deaddog]

And what issue 3rd party causes? What if someone makes a mistake? Crypto is gone! Bank you will always get your money back. Zelle works instant, wires are free and can be done from bank app.

main question, what issue did crypto solve????

It's an easy asset to move between countries.
If for what ever reason you needed to move money between even Canada and the US there is an issue as the banks don't really communicate with each other.
As unbelievable as it seems, the Canadian government can freeze bank accounts at will. Crypto held in a cold wallet solves this problem.