/biz/ - Business & Finance

Bitcoin lex luther is finna steal some Bitpies, fr fr no cap. he's a bad CIA backed actor

Nobody on the leadership team expected BTC to go below 25K

>>49694972
Proof or gtfo

>>49694972
Huh. It’s almost like banking regulations are a good thing. Guess this is what happens without them.

>>49694972
w-where should I put them then?

Just got 38k LINK out of Coinbase on Sunday, whew. I have some cash to withdraw tonight

They bought shitloads of futures contracts thinking they were investing in future liquidity.

They used margin and the banks are calling.

Get your crypto out!

>>49694972
>>49695009
If this isn't a LARP, coinbase may induce suicides upon all phoneposters

>>49694972
>reddit spacing
yeah not buying it but not stupid enough to have ever used coinbase anyway

gay larp and you're a fag

>>49695009
"oh no we're growing less than we expected because the entire global economy is crashing"

>>49695069
retardposting

>>49695039
Give them to me anon. You can trust me.
Also dont bother fudding a CEX when THERES NO FUCKING ALTERNATIVE FOR THE US

>>49694972
>tfw all in stables that are stored in my ledger

>>49694972
>Get your shit out tonight!
you should do that anyway, only retards let exchanges hold their crypto

>>49695052
nice stack, are you all in on LINK?

>>49695118
i used to not care but after recent events, specifically celsius, i pulled all my money this weekend.

>>49694972
>Coinbase to announce a "temporary" freeze on sending to external wallets.
They already did this you fucking larping douche. Stop making this gay fucking FUD

>>49695119
I hope it isn't Tether or USDC.

Both of those will go the way of luna before July.

I will get crucified for saying this but everyone in the know is safe havening in XRP.

>coinbase receives usd for crypto
>crypto falls in price relative to usd
>/biz/ thinks this is bad for coinbase

>>49695009
There's something to get around that. I think it's called "Future Planning". I'm not even fucking joking. It's where you plan for the outcome of 4 or more different scenarios and adapt accordingly.

This might be college level shit but idk how such a big company doesn't have somebody planning for the scenario where btc drops all the way down to 3k. I would assume this was the plan all along once btc dropped below 20k

Future planning is one of the first steps to becoming a CEO if anyone here is interested.

>>49695218
USDC, which has been confirmed as backed you retard. USDT is def toast.

>>49695218
tfw just some xsg schizo LARPing
oh well

>>49695218
This thread got even gayer than before.

>>49695242
The plan for a sub 20k scenerio was always to freeze and hope for the best.

Coinbase may come out of this and you might still have your crypto after the freeze, but get on a hard wallet now if you don't want to be tied to the fate of Coinbase.

>>49695242
I think I'm ready for step 2

wait is CB wallet off an exchange? explain it to me like my friend is retarded and wants me to know

>>49695118
This. Always take possession of your crypto asap.

>>49694972
what about sending my USD back to my bank account? will those be frozen as well?

>>49694972
i'll kek if you are right. i need to find a way to buy monero. only thing I want to stack.

>>49695396
Your USD is the only thing FDIC insured through them.

>>49694972
All my crypto is in cold wallets, but how the fuck would I buy crypto then? I realize that there are a billion other fiat on-ramps, but cuckbase is the cheapest and easiest to use. I’ll take that risk, but I don’t stand to lose that much money. I usually just buy $1300 of crypto every two weeks and then transfer to my wallet after the 5 day waiting period.

>>49694972
I'm head of negroid relations at coinbase and I've heard no such thing.

>>49695218
Let the crucifixions begin
I've got a nice stack of XRP just in case

>>49694972
Oh no, my 87 Link and 1000 GRT.

>>49694972
Never keep more than 5 - 10% of your stack on exchanges.
With what you do keep on the exchnages, always have retart sell orders in play, 10 - 100x current value to catch scamwicks and fat fingers.

>>49694972
>coinbase going bankrupt
>fractional reserve printing a 50+bil coin
yeah only a retard would believe this. theyre getting ready for a potential multi-year bear market

>>49695218
now we need the Link and and Monero fags to chime in

>>49695439
This is the way to do it. Get it off ASAP. You could also convert to dai and move that to another exchange that doesn't kyc like kucoin

Firing people is bullish

Buy COIN (nasdaq)

>>49695218
>I will get crucified for saying this but everyone in the know is safe havening in XRP.
HAHHAHHAHAHAHAHAAHAH

My most recent ach doesn’t clear until Friday. I’m not really worried but I won’t be using Coinbase in the future. I will just use Cash App which has a 2% fee but at least I can send it immediately wherever I want

>>49695540
I'm head of pedophile relations at coinbase and your monero and your secrets are safe with us. I'm not able to speak about our government mandated backdoors into every chain we support though, they told me not to tell anyone about it

>>49695655
kek

>>49694972
Coinbase will be bankrupt by months end. If you still have crypto in their wallets you will be liquidated.

CEO already confirmed it.

>>49694972
Ok I'll bite anon. When is this annoucement of bankruptcy going to happen?

>>49695928
soft features; shaved hair. is he ghey?

Ok great so worst case scenario we can all get in on the class action lawsuit. It is a publicly traded American company after all.

>>49695241
Exactly this. What the fuck even is this thread.

>>49695990
Most class actions dont give you much after bankruptcy. You might get a few 100 if you are lucky.

>>49694972
You’re a faggot with this low effort fud

Yo I don’t have a hardware wallet yet. Is trust wallet good till I get one?

>>49694972

Should be obvious this guy was a complete tool when they made hundreds of millions and their website still looked like complete ass.

>>49695039
bitmex

Coinbase is never going under because it's the Fed's pulse on crypto. We'll see the government subsidizing CB long before we ever see tens of millions of KYC'd trading records go up in smoke.

>>49695241
>>49695997
>implying exchanges arent double dipping and gambling with their own profits

what is going on in the head of an apologist?yikes.

What is coinbase even good at? They are a shit wallet

>>49695039
Gemini is better than Coinbase. Just make sure to use ActiveTrader or API, their mobile app fees are pure kikery.

>>49696076
>CEO of publicly traded company says they will take customer crypto in a bankruptcy
>few weeks later company lays off 18% of workforce
>stock price has never exceeded ipo price
>bear market in stocks
>cryptos crash and lose 1/3 of value

>company is safe. Stop making stuff up.
>no sauce
>no proof

It’s funny when Celsius goes under but if Normiebase fails too it would be kind of depressing

>>49695218
THE STANDARD

>>49695241
Mt gox went under when Bitcoin crashed because they were embezzling funds, when people take money out of exchanges and into their bank account, which happens a lot during a crash, this is bad if the company doesn't have enough liquidity. (Or if they used their liquidity to speculate on Bitcoin)

>>49695253
Why would coonbase continue to back usdc if it goes bankrupt?

>>49696324
I'm not going to say embezzlement is impossible, but it's certainly less likely given how much more regulation and reporting coinbase agrees to do for the SEC.

>>49695241
This
Doesn't coinbase make most of its money during periods of high volatility due to transaction fees?

>>49695218
>safe havening in XRP

>>49694972
Thanks, anon. I've been hearing rumors about more exchange troubles, and it's not like it hasn't been a common thing in the past. MtGox, Cryptsy, etc. There's a reason why people say "not your keys, not your coins," right? Anyway, I bought a hardware wallet today, I'm taking all my bitcoin off BlockFi tonight and then Coinbase, too. I'm never selling anyway, I don't know why I thought having a custodian was smart... Celsius scared the crap out of me.

bitcoindashy.com reports substantial outflows

BTC was under 20k for years until 2021. Why would it be siddenly an issue for Coinbase?

>>49696532
There are lots of movements, what does that prove?

>>49694972
How the FUCK do you mismanage this company?

ITS A LITERAL MONEY PRINTER.

They literally rape you in fees. It has the largest customer base outside of Binance and is the largest USA on/off ramp for fiat.

It's fucking ridiculous to think that the person who only has to do is keep things operational, is somehow cutting staff.

Why does everything in the west seem intentionally rigged to fail. The fuck? Was he instructed to lay off people. It makes zero sense. He should be hiring more.

>>49695131
Yes, I have much more than 38k but I'm all in. Ready to stake

>>49696586
Maybe they took out hedges at 60k that assumed BTC will never go under 20k.

>>49696532
>Shows photo with the opposite of what anon said
You fit in here, can't do simple math

>>49696610
It's a tech company, debt fueled hyper growth is getting kneecapped by the fed raising rates. I still doubt these bankruptcy threads, but I guarantee a big chunk of their workforce was paid entirely via dirt cheap loans they can't get anymore

>>49696680
Looks like you can write but can't read.

>>49696730
>Substantial outflows
The photo you posted shows more bitcoin INFLOWING to coinbase than outflowing, you absolute mongoloid. Go BACK to first grade.

>>49696687
Why do they need the loans?
How many HR roasties do they actually need jesus christ.
Their business model is perfectly sound and prints money for them by doing nothing.
I am going to go into management. I'm done being a coder. I'm going to be a CEO and run a company by not making horrible business decisions.

>>49696610
Are people still in denial about the fact that they are gonna end up losing a lawsuit worth more than their company value?
Imagine owning a company and selling Knock off nike's until the owner of the real Nikes takes your ass to court for billions.

>>49696941
Why did coinbase list the identity of Satoshi as a Risk in their sec documents?

https://www.sec.gov/Archives/edgar/data/1679788/000162828021003168/coinbaseglobalincs-1.htm

>>49697039
Because most people would sell their bitcoin immediately if anything but a white male made it.

>>49695242
AHAHAHAHAHA HAHHAHAHA holy fuck you’re stupid fresh of the boat poo loo.

Armstrong’s plan was to cash out himself and venture capital investors on an IPO. If he can dump his shares before it goes to zero he is a legit billionaire. Anything beyond that is dessert.

The Next CEO (if coinbase survives) will focus on meeting his performance equity rewards set by the compensation committee because he won’t have a billion in the bank, his life will be tied to company success.

Brian Armstrong is a fucking faggot

>>49694972
good thing i already took all my linkies out of that shithole website

they literally have 6 billion dollars in cash

https://www.nasdaq.com/market-activity/stocks/coin/financials

>>49695039
get a decent VPN and do what I do

>>49695218
Kill yourself

>>49695037
>banking regulations should apply to businesses that are not banks
Wow, you're fucking retarded.

>>49695218
>Usdc and tether are going to become infinite mint algorithmic dumpcoins
This is your brain on cRipple

>>49695218

>>49695241

>people stop investing in crypto,
>crypto activity drops
>coin base fee revenue drops

>>49695039
On your own wallet. Not your keys not your Crypto

Cuckbase Wallet is safu, r-right bros?

>>49698664
Yeah

>>49695118
+1

>>49696218
keeping your records for the irs

>>49694972
I have all my funds in USDC on a different exchange and get to them right now. How fucked am I? What happens TO USDC?

>>49695218
for fucks sake. Fucking schizo. /thread.

>>49696383
So tired of this nonsense. Centre/Circle is a completely different company. Coinbase just heavily integrated USDC into their system.

>>49695069
Too dumb to larp not dumb enough for a (you)

>>49695109
What is a ledger

https://www.ontier.digital/post/bitcoin-creator-launches-ip-claims-against-digital-currency-exchanges

coinbase is a sacrificial lamb. They can't allow this court case to occur so instead they'll bankrupt the company, take all user deposits, relaunch the platform under a new corporate entity.
Kraken also got served so expect to see them implode but for different reasons.
Screencap this.

>>49699278
>Craig Wright
stopped reading there

>>49696206
/thread/

>>49699133
Even if USDC is technically separate from coinbase, what happens if coinbase gets locked? People are going to think USDC is cpinbase no matter what.

>>49699409
And if coinbase defaults, the banks would be happy to own that information outright...

>>49695218
True, XRP is guaranteed backed by schizophrenics dumping their minimum wage paycheck into it every month.

>>49696819
> Why do they need the loans?
Interest rates were insanely low.
Interest is a tax deductible expense.
They were trying to grow a company rapidly.
They were investing in things that would return more than the percentage of the cost of interest.
Every company does this.

Do you really think you can be a CEO someday?

>>49699494
the general public doesn't associate usdc with coinbase. They don't think or care about the orgs behind stable coins, but if they did, they would follow the trail to circle and stop there.

>>49699278
>https://www.ontier.digital/post/bitcoin-creator-launches-ip-claims-against-digital-currency-exchanges

>>literal who site
>>two paragraphs about Craig Wright

lurk more.

k lol

>>49695966
so coinbase is basically a pro homosexual exchange
ftx is a kike controlled money laundering site
binance is a ccp trap
kraken is the straight white mans choice

>>49694972
>what's about to happen is going to shock crypto more than mt Gox
Your shitty webpage can go bye bye and crypto won't give a flying fuck, not even for a second. Mt Gox my ass.

>>49695039
In the butt

>>49699875
you wanna bet your portfolio on that?

>>49695218
>I will get crucified for saying this but everyone in the know is safe havening in XRP
The problem is you know only morons, am I right?

>>49699911
If it wasn't already clear I'm no gambler like you, I calculate my risks and that's why I have the smugness to say that coinbase is not relevant anymore. Binance took the lead way long ago.

>>49694972
You have to be a complete moron to use coinbase. Their fees are ridiculous.

>>49700048
Which is worse since they're dishonest insects like every chink is, but that's another story

>>49700084
coinbase pro, kiddo
>>49700048
This, but it is exaggerating to say Coinbase is not relevant only because Binance is leading

>>49694972
This is a a larp if i've ever seen one
>Who the fuck uses coinbase
>Doesn't mention vinu bags (first signal of larp)
>"mr gox"
>nothing happened
>coinbase is still the same shitty place
have some obamacube, you tried kid

>>49700104
Not as relevant to cause a Mt Gox 2.0 in the crypto space, that's my point

>>49699911
>you wanna bet your portfolio on that?
On a second thought I do since I hold no stables at all and I just went all in into bitcoin, which should go full panic mode by your narrative

>>49694972
i used coinbase to sell all my stablecoins the other day. i'm glad i will never have to deal with their kike bullshit again.

>>49695037
>It’s almost like banking regulations are a good thing.
(((banking regulations)))

>>49695039
cold wallet nigga

>>49700119
Damn I forgot about the Obamacube

>>49694972

>keeping your BTC on exchanges

Wtf is wrong with you.

>>49694972
>mfw OP was one of the vengeful, useless eater faggots at Coinbase that got canned LMAO

I just bought 20 USDC on COIN to buy a fuggin pass and they only gave me 9 today. Now this?! FUCK. I just wanna post on mobile...

I call dibs on coinbases corpse.

>>49695037
>2008

>>49699673
Kraken

>>49695344
Tell your friend:
>Not your keys, not your crypto.

I've got some tokens on the Coinbase wallet, are they safe or not ? If not where should I send them ?

>>49695119
> cashed out and put my net worth into t bills

It will literally take the collapse of the western government to fuck me over kek

>people here think its no biggie id the second largest excange rolls over and dies
how clueless can you be

>>49695241
>Coinbase receives USD
>Coinbase buys bonds to get interest off their USD
>Coinbase now holds bonds instead of cash
>Bonds decrease in value due to interest rising
>People want their cash out of Coinbase
>Coinbase doesn't have the cash on hand
>The bonds Coinbase bought are worth way less than they paid for them
>Coinbase is technically insolvent
>I.e. bankrupt

>>49700907
It’s no biggie because it isn’t true. That being said if Coinbase DID go under bitcoin is going back to $1000

>>49700947
so what happens if i have an account with binance and coinbase. i send 10 mil usd to binance and buy eth, take it to the shitcoin casino and double it. send half to binance and half to coinbase. cash out. binance is even. coinbase is down 10 mil and only has some shitty eth. could i repeat this process until coinbase has no usd?

>>49700393
A ledger or cold wallet would do cause if the news on coinbase is true you might lose your funds.

>>49699133
I think it largely depends on the exchange you hold them in. I don't even take chances with anything centralized right now before they pull a Celsius on me. All my stablecoins are parked in a defi yield aggregator that lets me diversify across different yield farms reducing the risk.

>>49700982
Yes

>>49698565
>It took 5 replies for this to come up

>>49694972
Coinbase banned me from their services years ago. I'm good

>>49695039
>what is a private cold wallet

>>49695009
>>Nobody on the leadership team expected BTC to go below 25K
>CEX doesn't expect bitcorn to go to another crypto winter
How can such brainlets have a CEX

I hate Coinbase as much as the next guy but this is fake and gay.

>>49701168
yea we are nowhere near the bottom

>>49695109
Kraken is still kicking. And they trade monero.

>>49694972
>Coinbase is bankrupt
What about USDC?

Who would have thought that imaginary internet money you can’t spend is a bad investment

Anyone else here starting to panic and realize you know nothing about how this shit actually works? I have never moved anything to a wallet.

I have a Trezor I never set up yet and leave everything in the Coinbase vault. Now I know I should move some of it but don't you still have to write the Trezor's backup seed on a piece of paper?

How tf do you guys store the wallet phrase on paper so it won't get burned in a fire or lost?

I know other people with six figures who have only bought and sold on the exchanges. This wallet shit is scary as fuck and seems very risky for misplacing information. The thought of something happening to Coinbase is gut wrenching.

should have used metamask and Rubic, sorry chuds

>>49695118
I've been hearing this for years.

>>49694972
>am not going to reveal my identity
LARP, prove you're real and prove where you got your information or this is fudd.

>>49695242
>This might be college level shit but idk how such a big company doesn't have somebody planning for the scenario where btc drops all the way down to 3k.
They did, the plan is to fire 1100 people, see if they care

How can a company that isn't FDIC even do anything to protect their clients money in a bankruptcy, as anything they're holding is basically company money, even if it's earmarked as the clients? Exchange all investemtns bought by clients for class a bonds issued with a zero percent interest rate? I'm obviously no investment banker but that's that's the only way I can think of, and even then that only makes them first in line if chapter 11.

>>49703170
Yes, they put it as a risk factor in their earnings report that customers could lose funds in the case of bankruptcy.

>>49699911
i have custody of my own coins. as long as the network is alive nothing is happening to them. i use exchanges only to spot buy and send them to my own wallet right away as should everyone else.

>>49695241
Based. High IQ post

>>49694972
Even though you're larping, if anyone in this thread is still retarded enough to hold funds in a CEX they deserve it

>>49698565
What is good software wallet

>>49694972
go the hell LARPER with you XRP bullshit
Coinbase is safe and you are a retarded XRP schizo. kys

>>49694972
Anyone with a brain already did.
I left my ICP on there cause no one wants it anyway.

>>49703556
Exodus

>>49694972
Do i short Coinbase today master chief?

>>49694972
Did you lose your job?
Go to school, bears took over, noob.

Did any other Kekbase user get this option to start using "coinbase one" when they logged in? Here's the email after agreeing to the free 30 days.

>>49695218
>XRP

>>49703556
Exodus is best.

>>49694972
they have 6 billion in cash on their balance sheet,
their marketcap is 12 billion
>Bankrupt
No lmao

>>49704085
>underestimating the schizos
theyre not numerous but they are zealous

>>49704027
That's interesting.

>>49703763
>>49704129
Ty frens

>>49704129
Got my exodus wallet set up, pretty comfy wallet desu

>>49704359
Now tell me how much of that is in actual cash and not other cryptocoins

It's likely sub 5%

>>49699278
>https://www.ontier.digital/post/bitcoin-creator-launches-ip-claims-against-digital-currency-exchanges
nigger. you don't know shit. you must be all in on XRP too.

>>49695009
>two years ago bitcoin bottomed out at 6k
>how could it possibly go below 25k?

>>49694972
OP if you are LARPING I am putting a spell on you only bad things to happen to you, you faggot. You don't mess with those things.

>>49696774
TO COINBASE YOU STUPID FUCK! HOLY SHIT HOW DUMB ARE YOU?!

I only have like $900 there. Not enough to worry about.

>>49694972
I have a few hundred USD in Bitcoin stored at Coinbase. Where should I move it?

>>49706314
At least to a private wallet, holy fuck how do people still not know this yet sink thousands into crypto

>>49702989
>I have never moved anything to a wallet.

what the fuck are you up to? Massive sums of money in things you don't understand. Your lesson will come through pain.

>>49706892
ok, this coinbase trolling has gotten ridiculous on /biz/, but it's a total FAIL. you zoom zooms can't successfully troll like us oldfags used to do on 4chan, like that whole #cutforbieber incident where we convinced girls to cut themselves as a protest to stop justin bieber from smoking weed LMAO

The vast majority of my crypto is in a hardware wallet. I have a bit left on Coinbase. They won’t let me transfer it, keep getting an error. Those fuckers. Thankfully it’s not a whole lot, but still.

>>49699673
Gemini is also for the white man.