- Official Post
Why mine for Bitcoin when you can just buy it on an exchange like Coinbase?
Local Overview
Walk into any gas station in Houston, and you'll run into some strange machines that promise to give you Bitcoin at an exorbitant price. You can easily purchase the same coins online through your device via Coinbase App or the website.
Financials
Just very quickly...
Coinbase Global, Inc. operates platform for crypto assets in the United States and internationally. It offers the primary financial account in the crypto economy for consumers; a brokerage platform with a pool of liquidity across the crypto marketplace for institutions; and a suite of products granting access to build onchain for developers. The company was founded in 2012 and is based in New York, New York.
How this company stays afloat I don't know but the stock price today is 36% lower than the stock price at launch if you can believe that but they are profitable (43.66%).
While not the first platform to offer coin trading... they were one of the first to get in bed with SEC to make coin trading a viable option for everyday people. Today the stock price sites at $240.41 down about $160 from it's peak back in July.
Entry Point
While looking at the chart YTD one could argue the stock has the potential to keep dropping into the upper 100 range. When this happens, the potential upside could be 2x.
Closing Notes
Keep an eye open on Coinbase... there could be something here.