🤣🪦RIP. Mistake is comparing crypto exchanges to traditional brokers. It's Borders as a comp for Amazon all over again. "Book margins are coming down and Borders has cafes." 👨💻Ya, but what about the meteor? 🦕What meteor? ☄️This one, #BTC itch. 😵🔥🍖😋
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Legacy "fees" are still there, hidden or moved. Crypto brokerage is just one service that is powered by a gigantic stack of infrastructure that replaces like 20 other middlemen and ancillary businesses. Revenue diversity will grow with adoption, paradigm shift over next 10 years.
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What happens to exchanges when fiat ded and Bitcoin meteor wipes out dinosaur money?
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The exchanges become useless very quickly
Therefore all exchanges are natural enemies of Bitcoin's success
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What the hell other sources of revenue are there except for s***** fees that all the exchanges compete with each other on?
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the yield farms dude. the APY just grows on trees!
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I doubt it. An exchange is an exchange. Nasdaq, NYSE and others can do what you do. They just have to follow the laws. And adding bitcoin doesn’t make your case true. Sorry but being a venue for unregulated securities isn’t a special model in the US.
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im not buying the counterargument.
he is comparing revenue, not profitability. why should crypto enjoy higher revenues v AUM than traditional assets? that makes us sound less efficient.
kraken shareholders hate this tweet
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