Just a thought: If crypto is an/the alternative to "the system" - here legacy financial markets, then why is Coinbase doing an IPO in the first place? Isn`t that in contrast to "true crypto spirit"? Why didn`t they come up with Coinbase Coin/Token (as a means of distributing profits to investors) instead? Why give business to your opponent?
Also, at first glance, this does not seem to be particularly supportive of the decoupling narrative.
, and bitcoin is not crypto.... so you do seem to be muddying some of the concepts, Tuco Benedicto Pacifico, which may also thereby lead you into reading too much into one company in the space planning to go public... Bitmain was going to do something similar, and it ended up not going through.. This coinbase situation might have some better chances, who knows..? we will see.
Agreed with bold. It is a rather big player in the space, though. Successful IPO could further tie bonds between crypto and legacy markets, adding to viewing BTC as "just another asset", competing with stocks, commodities...
BTC started this whole thing, right? I admit I have never read the whitepaper, but I have also never heard anyone talking about "this paragraph where it talks about how to convert to fiat"..
Second part of your statement about muddling concepts could also be true, though.
You agree that coinbase is not bitcoin, but you did not make any comment about the difference between bitcoin and crypto.
You don't necessarily need to read the bitcoin whitepaper in order to understand what bitcoin is, as compared to the rest of crypto - but it might be helpful to have some understandings regarding how bitcoin is distinguishable in order to attempt to address how we attempt to address matters in this thread, which is largely a bitcoin focused thread, rather than convoluting the concept of how some thing in the space (such as the an attempted going public of Coinbase) affects bitcoin specifically.
I just consider analysis to be a whole hell of a lot weaker, when lumping bitcoin into an amorphous crypto concept rather than attempting to figure out bitcoin more specifically. yes, a lot of companies, including coinbase have gone down a shitcoin rabbit hole because they believe that they can make more money by getting involved in a variety of shitcoins, but that does not mean that in this thread we even want to talk about bitcoin matters by NOT attempting to recognize that some companies, including coinbase have confused their own business model and incentives by getting involved with a variety of shit products.. but still does not mean that some people might still choose to purchase or trade their bitcoins with coinbase.