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Comment by bfeynman | Hacker News Reader

exchanges have been around for almost a century now, so coinbase actually has a huge disadvantage in that they have no institutional stickiness or users, exchanges are built on trust and I would not want my money being routed through them if I was a client.

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old exchanges do have their own challenges [0]. I don't know if their dealing in crypto gave them any particular insights into how the broader set of technologies could enhance market-making. there is at least one major busted stock exchange blockchain project that suggests this is not trivial [1].

just scrapping the bottom of the barrel here :-), hoping that as this crypto-decade draws to a close, it was not a complete waste of time for all these people and a major distraction from more meaningful pursuits in digital technology. even if one does not participate, these pervasive hypes, whether crypto, AI don't leave anybody unaffected...

[0] https://www.theguardian.com/business/2022/jun/06/london-meta...

[1] https://www.ibtimes.com/australian-stock-exchanges-blockchai...

Just curious, which kind of exchanges do you mean that are 100 years young? The first stock exchange came to be >400 years ago and I guess there are currency or other exchanges that were there before.

(Sorry if I just seem to want to point out a mistake - your first sentence just sounds so specific that it just got me interested in what you mean.)

There is a wide variety in ages of prominent exchanges. NYSE is one of the older ones at around 250 years, LSE is not as old but roughly 220. Some Asian exchanges are younger, Hong Kong and the Indian ones are 100-150 years old. Chinese exchanges are younger still, so is the Japanese and NASDAQ was founded in the 1970s. I am also curious as to which specific one they meant, perhaps they meant the set that were all setup around 1890s as a hundred years old.

Of course, being electronic is a later thing, as far as I know the NASDAQ was one of the first.

should've qualified with modern exchanges, centralized companies that facilitate markets and liquidity. Older generations were more open marketplaces and in some cases literally just physical areas.

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