21–30 of 204 posts
Earlier quoted context omitted.
You think it's fishy and you have no way to know if something is going on behind the curtain at coinbase but you don't want regulation? Regulation is what lets you peek behind the curtain and know that Coinbase is or isn't doing something fishy.
Thats not what bank regulations have achieved.
There is something that feels extremely fishy to me about what has happened at coinbase over the last few days. For years I've told people to just store their coins on coinbase. I've been a big fan of their "vaults", and I've been saying that they are the shining beacon of legitimacy in this whole thing. I honestly don't know that I still agree with that. This whole rollout of BCH has made me honestly start questioni…
You think it's fishy and you have no way to know if something is going on behind the curtain at coinbase but you don't want regulation? Regulation is what lets you peek behind the curtain and know that Coinbase is or isn't doing something fishy.
No, there are many reasons why I do want regulation. I just try not to get too religious about any of my opinions, and that lets me still see some reasons why regulation can be a bad thing.
Pump and Dump? Coinbase Suspends Bitcoin Cash, Investigates Insider Trading
https://www.financemagnates.com/cryptocurrency/news/coinbase...
There is something that feels extremely fishy to me about what has happened at coinbase over the last few days. For years I've told people to just store their coins on coinbase. I've been a big fan of their "vaults", and I've been saying that they are the shining beacon of legitimacy in this whole thing. I honestly don't know that I still agree with that. This whole rollout of BCH has made me honestly start questioni…
That was when I was initially setting up accounts, and it was enough to scare me away. I use Gemini. They've had unplanned outages too, but they're much rarer -- only one that I recall over the same timespan (against 10+ for Coinbase).
Coinbase does a number of things that seem strange from a market perspective. There doesn't appear to be an auction to open/close or restart. Instead they seem to lock their markets and allow post only orders. The other things this screams is that 1) stop loss orders are useless in volatile markets. I've harped on this alot from the US Cash Equities side but it appears to be equally valid. YOu'll only end up getting…
In a recent thread, stop-loss limit orders were mentioned, which would appear to address the bad-fill concern, to an extent.
Earlier quoted context omitted.
What advantages are there to storing BTC on Coinbase vs. your own wallet
User experience, which is important when you're trying to appeal to non-techies, like the ones fueling the Bitcoin spike in the first place.
In case people are wondering why is this a recurring problem - this simply perils of Market Making in a volatile market. As a market maker for customer orders Coinbase needs to fulfill both sides. So to make money they buy from customers at low price and sell back at a high price. So they are collecting spread between bid and ask to make money.
But what happens if the market moves rapidly in one direction? They end up selling low and buying high.
So, they need to reset the market making algorithm. Or shutdown the site for a "fix", long enough that the volatility comes back in their range.
There is something that feels extremely fishy to me about what has happened at coinbase over the last few days. For years I've told people to just store their coins on coinbase. I've been a big fan of their "vaults", and I've been saying that they are the shining beacon of legitimacy in this whole thing. I honestly don't know that I still agree with that. This whole rollout of BCH has made me honestly start questioni…
What advantages are there to storing BTC on Coinbase vs. your own wallet