Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Coinbase releases professional trading platform for institutional clients

prime.coinbase.com

Post reply on HN
Print view View original

81–90 of 101 posts

Re: Coinbase releases professional trading platform for institutional clients

#81

Post by hndamien »

Veelox wrote: post #74
CryptoPunk wrote: post #63

Earlier quoted context omitted.

They make it a federal crime to offer securities to non-wealthy people. Characterizing all such offers as scams is a prejudicial over-simplification, and the kind of sweeping and presumptive generalization that rationalizes repression.

I think you are being uncharitable to the point they made. Since there are accredited investors, if a bad guy tries to talk an un-accredited investor into buying into a dressed up Ponzi scheme it is a federal crime and thus can be investigated and treated as such. The goal of this is to keep main street investors safe. Yes, it does put some limits on individual freedom but I think this is one area where the trade-off…

Nothing stops an unaccredited investor betting the farm on Enron. If there is a less perceived risk, people will use more leverage. So all of this "protection" just amounts to restricted opportunity.

Re: Coinbase releases professional trading platform for institutional clients

#82

Post by mylons »

lisbakke wrote: post #18
benmanns wrote: post #12

Earlier quoted context omitted.

If you're the fastest and you don't make > $XXk a month then why would an institutional client pay $XXk per month for better access?

I don't have access to capital so I can't scale to $XXk a month.

why can't the bot make enough trades to generate this wealth?

Re: Coinbase releases professional trading platform for institutional clients

#83

Post by sokoloff »

hndamien wrote: post #81
Veelox wrote: post #74

Earlier quoted context omitted.

I think you are being uncharitable to the point they made. Since there are accredited investors, if a bad guy tries to talk an un-accredited investor into buying into a dressed up Ponzi scheme it is a federal crime and thus can be investigated and treated as such. The goal of this is to keep main street investors safe. Yes, it does put some limits on individual freedom but I think this is one area where the trade-off…

Nothing stops an unaccredited investor betting the farm on Enron. If there is a less perceived risk, people will use more leverage. So all of this "protection" just amounts to restricted opportunity.

Several people went to federal prison and Arthur Anderson went out of business over the Enron shenanigans. This seems as much a deterrent as the Securites Act of 1934. If you’re willing to risk federal prison, you can solicit non-accredited investors for unregistered securities.

Re: Coinbase releases professional trading platform for institutional clients

#84

Post by is_true »

gdaxthrowaway wrote: post #61
lisbakke wrote: post #6

They're going to give new tools to institutional traders. Co-location, FIX market data, lending & margin financing products, professional crypto secure storage ('coinbase custody') etc. etc. They'll be faster than non-institutions and have trading options unavailable to the rest of us. Read this https://blog.coinbase.com/coinbase-institutional-deea317d23a... Right now, the institutions have to play on a level playing…

I've made almost $500k within a year. I don't run a bot and I don't have a financial background.

500k starting with 499k? Percentages are better for this.

Re: Coinbase releases professional trading platform for institutional clients

#85

Post by alfalfasprout »

buttershakes wrote: post #80
chollida1 wrote: post #25

Earlier quoted context omitted.

Bold claim, and funnily enough, you are the 3rd or 4th team I've run into this week that claim to be the fastest trading system on GDAX. The Consensus conference brings out these kind of conversations:) What are you basing your claim off of, I've seen some pretty impressive use of C++ and one team that is starting to burn simple strategies into FPGA's. What sort of time from network stack to network stack are you con…

These posts kill me. Anyone who says they are burning strategies onto fpgas when they trade with GDAX has no idea what they or doing or talking about. The platforms are way too immature for this to matter. Source, was in real HFT for 10+ years.

Seriously. I bet the data feeds don't even use FPGAs let alone the matching engines. If I'm not mistaken, GDAX runs on AWS.

Re: Coinbase releases professional trading platform for institutional clients

#86

Post by CryptoPunk »

gamblor956 wrote: post #79
CryptoPunk wrote: post #72

Earlier quoted context omitted.

Non-registered securities are those that are issued by any company not worth over something on the order of $100 million, since any company smaller than that cannot afford to get their securities registered. Anyway, this distinction doesn't change my point: offers of such securities to unaccredited investors are not categorically "scams". This kind of critical reductionism is reckless to individual rights and liberty…

Companies can get registered fairly cheaply; a company with almost no assets or value could do it. The expense comes from meeting the requirements to be registered on a large exchange like NYSE or NASDAQ (both of which are non-governmental entities). This is why small companies that have public stock are traded on "penny" exchanges.

Fair point. There are the OTC exchanges.

In any case, I don't see any mom and pop shops offering their customers stock. There are only 10,000 companies with stock on the OTC market, out of 30 million in the US.

Re: Coinbase releases professional trading platform for institutional clients

#87

Post by CryptoPunk »

Veelox wrote: post #74
CryptoPunk wrote: post #63

Earlier quoted context omitted.

They make it a federal crime to offer securities to non-wealthy people. Characterizing all such offers as scams is a prejudicial over-simplification, and the kind of sweeping and presumptive generalization that rationalizes repression.

I think you are being uncharitable to the point they made. Since there are accredited investors, if a bad guy tries to talk an un-accredited investor into buying into a dressed up Ponzi scheme it is a federal crime and thus can be investigated and treated as such. The goal of this is to keep main street investors safe. Yes, it does put some limits on individual freedom but I think this is one area where the trade-off…

No, anyone that offers an unregistered security to a non-wealthy (unaccredited) investor is committing a federal crime. It's disingenuous to ignore the full scope of the law, by not mentioning how it criminalizes certain classes of victimless interaction.

>>Yes, it does put some limits on individual freedom but I think this is one area where the trade-offs has been chosen decently well.

This is Big Brother ideology. No one in a free society should have their freedom restricted.

The practical results of this paternalism have been disastrous too, so it can't be justified on consequentialist grounds. Practically all small businesses are denied direct access to public capital markets atm.

That's probably trillions in lost economic gains and potentially a massive contributor to income inequality.

When you create gatekeepers, and prohibit anyone from transacting without their intermediation, you create a concentrated power structure that inhibits economic development and exacerbates income inequality.

The new crowdfunding rules are a tiny step in reversing this dire situation, but the real solution is to stop treating the adult population like children that need to be protected from their own bad judgment.

Re: Coinbase releases professional trading platform for institutional clients

#88

Post by stef25 »

RasputinsBro wrote: post #13

Coinbase lost this radio show's money and won't take responsibility for it: https://www.youtube.com/watch?v=0E7FSs6oXak (I'm not the show host, I just enjoy the show)

And I'm locked out of my account for 6 months cause 2FA stopped working and now they can't verify my ID. The whole thing is a shit show.

Re: Coinbase releases professional trading platform for institutional clients

#89

Post by pmart123 »

dnomad wrote: post #45

It's an interesting idea. I guess is an institution is going to take on crypto exposure they'll need all the trimmings including real-time market data in order to properly manage their exposure. But beyond the basic risk management... there's not much actual trading going on, is there? What drives the need for low latency? The crypto space has fewer assets than the actual real-currency FOREX market and it's not drive…

Lower latencies would help any market makers that change bid/offer quotes more quickly when say the price of bitcoin changes on a different exchange, or the FX price changes in the quoted base currency.

Re: Coinbase releases professional trading platform for institutional clients

#90

Post by fwdpropaganda »

lisbakke wrote: post #6

They're going to give new tools to institutional traders. Co-location, FIX market data, lending & margin financing products, professional crypto secure storage ('coinbase custody') etc. etc. They'll be faster than non-institutions and have trading options unavailable to the rest of us. Read this https://blog.coinbase.com/coinbase-institutional-deea317d23a... Right now, the institutions have to play on a level playing…

Here's a thought: a trader who has to rely on being the fastest is like a retailer who has to rely on being the cheapest. (Not to diss you, you have nothing but respect from me)
Post reply on HN