Quote from: hilariousetc on October 31, 2018, 03:58:37 PM

Quote from: gentlemand on October 31, 2018, 11:09:16 AM

Quote from: hilariousetc on October 31, 2018, 07:07:56 AM

If coinbase are losing money (or not making much) then they're doing something very, very wrong. The fees they make on both buys and sells are quite large. It's actually a rip off to buy from there but I only use it to sell.

It doesn't matter how high your fees are if no one's actually buying or selling. Things must be very quiet for all businesses at the moment, even the biggest. Volumes are pretty piddling on exchanges. It must be the same for retail sales.

Retail sales have probably taken a big hit but they were never really that big to begin with as most people seem to be getting involved with bitcoin for its investment potential as opposed to being a useable currency, but people are obviously still buying and selling bitcoin. If they wasn't then bitcoin would be in serious trouble and wouldn't be worth much but it has been hovering around £5k for quite some time (give or take a few times it fell over the past couple of months but seems to have rebounded each time). I'm sure Coinbase is still making a lot of money, and I'm sure there'll be a fluffy of activity and new accounts if the value ever has another boom.

Retail as in buying and selling bitcoin rather than running an exchange. They've basically made themselves repulsive to clients for payment processing due to making them control their own seeds. Part of their passive aggressive battle against bitcoin I guess.