On: Update on Hiring Plans

[triyambakam]

Does the price of BTC actually affect their business, though? I'm naive

[paxys → triyambakam]

Random BTC fluctuations probably don't make too much of a difference, but as of their Q4 '21 report 86% of their trading volume is actually from outside Bitcoin. Those have all taken a massive hit in recent months, and I can't expect that is good news for Coinbase.

[redisman → paxys]

Bitcoin still drives the whole crypto market value. If Bitcoin went to $10 tomorrow, every other coin would be worth $0

[paxys → redisman]

Right now it's the other way around. Bitcoin has held its value pretty well while everything around it is crashing.

[bbarnett → paxys]

Wouldn't the "other way around" be bitcoin at $0 and other coins at $10?

[dragonwriter → triyambakam]

Price directly probably not so much, but breadth of interest should, and I would expect that those two things are somewhat correlated.

[bombcar → triyambakam]

People are much less likely to buy and trade if the market is trending downwards, and they make their money on buying and trading.