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by jessaustin 4839 days ago
...their buy price sometimes fails to catch up with the current exchanges rates...

This is an existential flaw in their business. Why don't they just reject transactions at expired prices? (If they wanted to be slightly more evil, they could do this in one direction only.)
1 comments
metaverse 4839 days ago
Or just raise more money hoping that the price of a bitcoin will stabilize in the near future. Their current system is very convenient for users.
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jessaustin 4839 days ago
I wouldn't characterize the experiences of the customers on this thread as "convenient". If a commodity-trading system works except in cases of 2-sigma volatility, then the system doesn't work.

I'm just responding to metaverse's reasonable hypothesis here. Coinbase ought to diminish speculation by providing information, unless there are legal reasons for them not to do so.

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SkyMarshal 4839 days ago
>Or just raise more money hoping that the price of a bitcoin will stabilize in the near future.

Using a business model entirely dependent on the best case scenario would not be wisest play they could make. Even if BTC did stabilize, we now know market prices like this are not guassian but fractal/power-law based. Infrequent but sudden unexpected extreme volatility is a natural characteristic of such systems.

A better idea would be to develop a business model that at least expects that and does not fail when it happens, or at best exploits it.

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