Subnostr

Or btc will continue to win in such a dominant fashion that Coinbase will simply have to pivot to bitcoin only in order to save face. This scenario requires a large timeline, but I don't see Coinbase going down soon. There are far too many idiots who think we need more than one currency. One of them is Brian Armstrong.

Zach⚡️ 2y ago

It doesn’t matter what Bitcoin does.

Success or failure for coinbase depends completely on whether they actually have full Bitcoin reserves or not. If they try to fractionally reserve customer deposits or ETF funds, they’re doomed. If they actually keep Bitcoin 1 to 1 on their balance sheet, they could have a long period of success in their future.

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Discussion

Jack⚡️ 2y ago

I agree with that, I just meant that Coinbase will be forced to drop crypto once it is widely understood and accepted that btc is the true and only innovation. I believe that to be inevitable over a long enough time frame. It'll be everyone though, not just Coinbase.

I think they hold like a million BTC, so they are def chillin if they stay honest with reserves.