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Market debuts are supposed to say something about the future. A group of bankers and venture capitalists work together to decide what a thing is worth now, building in expectations for how it will grow. Today’s Coinbase is based around buying and selling coins like bitcoin and taking fees for it; the future Coinbase is built on something grander, involving more coins and a wider array of cryptocurrency-infused products, like NFTs and “decentralized” loans. Some analysts are skeptical. There are questions about whether this “cryptoeconomy,” as Coinbase CEO Brian Armstrong puts it, will prove to be as big as promised. Critics have pointed out that even if this reality does materialize, the industry will attract more competition (as it already has) and drive down Coinbase’s fees.
The WIRED Guide to Bitcoin
The cryptocurrency represents amazing technological advances. Bitcoin has a way to go before it's a a true replacement for, or even adjunct to, the global financial system.
BY KLINT FINLEY
In the interim, Coinbase is a bitcoin company. This was never exactly a secret, but the documents for its public listing reported that around 60 percent of the company’s revenue comes from fees on trading bitcoin. In any case, the other coins traded on its platform rise and fall with bitcoin. (Another parent bubble and its daughters.) The company depends on bitcoin’s volatility and its potential upside. Amid the surge in crypto prices early this year, the company’s first-quarter revenue was $1.8 billion, more than all of last year.
Learn more / En savoir plus / Mehr erfahren:
https://www.scoop.it/t/securite-pc-et-internet/?&tag=crypto-currency
Market debuts are supposed to say something about the future. A group of bankers and venture capitalists work together to decide what a thing is worth now, building in expectations for how it will grow. Today’s Coinbase is based around buying and selling coins like bitcoin and taking fees for it; the future Coinbase is built on something grander, involving more coins and a wider array of cryptocurrency-infused products, like NFTs and “decentralized” loans. Some analysts are skeptical. There are questions about whether this “cryptoeconomy,” as Coinbase CEO Brian Armstrong puts it, will prove to be as big as promised. Critics have pointed out that even if this reality does materialize, the industry will attract more competition (as it already has) and drive down Coinbase’s fees.
The WIRED Guide to Bitcoin
The cryptocurrency represents amazing technological advances. Bitcoin has a way to go before it's a a true replacement for, or even adjunct to, the global financial system.
BY KLINT FINLEY
In the interim, Coinbase is a bitcoin company. This was never exactly a secret, but the documents for its public listing reported that around 60 percent of the company’s revenue comes from fees on trading bitcoin. In any case, the other coins traded on its platform rise and fall with bitcoin. (Another parent bubble and its daughters.) The company depends on bitcoin’s volatility and its potential upside. Amid the surge in crypto prices early this year, the company’s first-quarter revenue was $1.8 billion, more than all of last year.
Learn more / En savoir plus / Mehr erfahren:
https://www.scoop.it/t/securite-pc-et-internet/?&tag=crypto-currency