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rvz

I did warn you, 1 year ago against buying the top. [0][1] Oh well.

We'll see what happens in earnings today.

[0] https://news.ycombinator.com/item?id=26789822

[1] https://news.ycombinator.com/item?id=26673100

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Your warning was wrong though. The price went up to over $300, so buying on the IPO would've been the correct decision if you also sold them at the beginning of the year.

It's just a high risk high reward gamble as everything related to crypto

> The price went up to over $300,

Initially it was 'reported' and estimated at $200 - $250 for the IPO price, but actually started trading at over $400 a share [0], which is the near top where the majority of retail entered and bought in at those prices.

After the first day of trading, it went down to $328.28 a share. [0]

So my warning was correct to not buy on IPO day or even anywhere near those prices.

[0] https://www.cbsnews.com/news/coinbase-direct-listing-100-bil...

A broken clock is right at least twice a day.

I hope you made out like a bandit shorting the stock.

what is your opinion re: the whole thing being extremely over-valuated at the getgo? We had already some solid competitors and Coinbase business model is they only make money if customers buy or sell crypto.

When you have wealth VCs, who are flush with cash, taking a company public, you can know right then and there that the future of growth and revenue is lackluster, at least from the insider perspective. Obviously, sometimes they get it wrong and a company does better than expected after going public. But if the insiders thought the company was poised for extreme growth, why would they sell their shares to unsuspecting, small time investors?

IMHO, companies that IPO and stay stable, or IPO and drop, are doing their early employees a favor at the market and institutional investors' expenses.

I can't fault that.

If the market's willing to overpay, and the money goes the people who actually built a company, where's the harm?

That’s the problem, crypto as an asset class has been nothing but a QAnon-fueled meme “stock”. Unfortunately, I don’t think this is the end of it until we see much more pain.

I can’t believe that real friends and family members that I know seriously invested in Dogecoin.

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