I reviewed both Block and Coinbase Q2 financial reports. Here is the TLDR:
Block Q2 Bitcoin Revenue- 2.4B
Coinbase Q2 Bitcoin Revenue- 273M
Wow!
pull down to refresh
pull down to refresh
I reviewed both Block and Coinbase Q2 financial reports. Here is the TLDR:
Block Q2 Bitcoin Revenue- 2.4B
Coinbase Q2 Bitcoin Revenue- 273M
Wow!
They're playing the right game
My takeaways:
Block obviously charging large fees to buy bitcoin but bitcoiners don't seem to care.
Coinbase leaning into altcoins because all the true Bitcoiners left and only 38% of their revenue comes from Bitcoin now.
You can designate a percentage of a direct deposit to be converted to bitcoin without fees. Then you can transfer >100,000 sats with out fees on chain.
Block’s actual profit on that 2.6B is ~44M
Thanks for the info. I can't use cash app here in the communist republic of Canada so good to know.
I hear Bull Bitcoin is good up north
Yes. It’s a good service and obviously bitcoin only aligned. I have used it but I mostly use Shakepay because of all the bitcoin rewards I can get.
Coinbase keeps pushing shitcoin. For pure bitcoiners Cash App or Strike just makes more sense, but I will be curious how that'll change once Coinbase (finally) integrates the lightning network
I’m not holding my breath and refuse to use the platform even if they DID integrate LN.
1% fiat fee is not large
Fair enough.
How did block make so much? Fees from buying BTC on cashapp?
Can You really compare them besides pure econ data?
Obviously different business models just pointing out that the idea that an exchange or financial services company couldn't survive being bitcoin only might be flawed.