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by mrb
1894 days ago
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«Coinbase is in a race to the bottom» 90%+ of industries are. It's what capitalism is all about. It's not unique to Coinbase. «Grandma ain't making a Coinbase checking account» She already did. They have 56 million verified user accounts. Twice more than Schwab. A lot of grandmas in this user base :) |
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This is a very simple understanding of economics that's ~100 years outdated. Most of the world's largest companies sell goods and services with relatively inelastic demand and/or significant barriers to market entry. What IP does Coinbase have that makes their service/good inelastic? Tomorrow when all coins are supported on Robinhood, Cash app, and Venmo, why use Coinbase? COIN investors haven't given me a good answer here. It just comes off delusional to me.
> They have 56 million verified user accounts.
This is a deceptive number. Coinbase has ~6M monthly active users at a time when crypto grew in value 10x. Average account duration is, I'm sure, very low. Schwab has ~30M active brokerage accounts. These are actual, comparable numbers. 56M is pretty much anyone that made an account with a linked email, no?