🤣🪦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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He already refuted your meteor claim.
Coinbase is not a call option on Bitcoin. It’s a call option on shitcoinery, which is doomed to collapse.
20,000 cryptos, all but one is a shitcoin. And your fee structures are trending to zero as well.
Tell me the bull case again?
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Plus, Amazon has a superior biz model to borders. They were able to offer 100x more skus than a typical book store.
You and coinbase copied exchange biz models for a worthless asset class.
There’s absolutely nothing about your biz model that is superior to trad fi exchanges
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Exchanges or brokers? What about tradfi custody, clearing, settlement? What about tradfi NFT marketplaces, staking, yield, payments? What about most of the world where tradfi is largely unavailable?
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If you’d prefer to compare yourself to a trad fi broker, Im fine with that. Because it is all about the fee income.
Yea none of those things you’ve listed have proven to have value. None.
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