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Comment by BillinghamJ | Hacker News Reader

Actual revenue, or just market trading volume? If the latter, $1bn sounds like a lot but actually isn’t really.

It's gotta be actual revenue. $1bn in market trading volume for Coinbase sounds tiny. That's only a few million per day.

Actual revenue https://www.recode.net/2018/1/22/16911692/cryptocurrency-bit...

> Recode has learned from industry sources

First, it's unconfirmed. What exactly does "industry sources" mean? That someone who knows someone who works there said "oh ya we make a billion dollars dude".

Second, it could also mean "gross revenue" in some form.

I don't believe any of this stuff until someone reputable confirms some level of it. Doesn't it seem strange that they made "exactly $1b"? Not $750M, or $1.2B, or $500M, but $1B?

I think the jury is still out.

Doesn't it seem strange that they made "exactly $1b"?

That would be strange, but the article doesn't say that, it says "over $1 billion".

Of course it's not the latter. $1bn is like a couple of days of trading volume at GDAX alone.

I believe it's actual revenue

Might still not be that much, if earnings through exchange rate gains were also part of their revenue. btc made what? Over 1000% in that year? If they pooled earlier in the year that are huge gains. If it's only from their 1.5% cut, it is really impressive.

Exchanges are literally printing money. I think nearly a million Ether a day was traded on Gdax at the top.

At $1,400 you're talking $1.4bn a day in trading volume, on (at least) half of which they take a 0.3% fee. That's $2.1m a day, just from ETH. Then there's Bitcoin and Litecoin. Bitcoin probably makes a similar amount. And their "simplified" website on which they charge higher fees.

They would be fractional if they were literally printing money.

Right, it's Tether which is doing that, not Coinbase!

It was fee revenue

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