Why is everyone discounting the possibility that this is a Coinbase controlled account? They would surely need to purchase the tokens before they list them.
Insider Trading at Coinbase
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Re: Insider Trading at Coinbase
#92Earlier quoted context omitted.
I think most transactions made with those coins are speculative, yes.
Well yeah, I think that most transactions will behave the purpose of active trading, because hodlers aren’t making transactions. However if you look at the volume traded, versus the total market, I think you get a different picture.
HODLing is also speculation. I'm saying that crypto isn't driving useful economic activity like investing in startups or small businesses can do. It's all just people trying to make money by finding a greater fool. Even speculation in a normal market can drive /some/ innovation through capital allocation.
Re: Insider Trading at Coinbase
#93Why is everyone discounting the possibility that this is a Coinbase controlled account? They would surely need to purchase the tokens before they list them.
No they don’t. You trade with other users not coinbase directly
Re: Insider Trading at Coinbase
#94I think Coinbase does fractional banking, I don't have any proof so not completely sure but you can judge yourself, this happened a few months ago: - nuCypher just randomly started going up on Binance - the price was still low on coinbase - the normal thing to do was to withdraw from coinbase and sell on binance "Oops withdrawal of nucypher is temporarily locked", it stayed locked for 8 hours, all the crypto subs on…
Jan 3rd is Proof-of-Reserves day, and all of the larger actors have ignored it for far too long. I believe Kraken has committed to it now, which is great.
Also: obligatory "not your keys, not your coins" and "don't keep your coins on an exchange".
Re: Insider Trading at Coinbase
#95Why is the SEC so slow to regulate cryptoassets? Literally everything that they combatted for stocks and traditional assets is now taking place in the crypto ecosystem.
Devils advocate:
The SECs core job is to protect investors and assure orderly markets. But it is not clear that buying a crypto asset IS an investment and one job of markets is to take money away from people who make dumb decisions (like buying a crypto "asset" only because Coinbase listed it). So stopping this doesn't actually fit their mandate any more than stopping people betting on sports or buying lottery tickets does.
And that's without getting into the other points people have listed:
* the SEC is toothless * FX isn't a regulated market, you absolutely CAN use "insider" info to trade Euros, USD etc. * its technically AND legally hard to prove insider trading in Crypto (and elsewhere) * if they did, and Coinbase etc moved their operations to unregulated destinations would that actually make anyone safer?
Re: Insider Trading at Coinbase
#96Unsurprising as I said before [0], after what happened with OpenSea [1], Internet Computer [2] and now ApeCoin [3], you get this. This is how they pump and dump on retail over again. Rinse and repeat. [0] https://news.ycombinator.com/item?id=30725449 [1] https://www.cnbc.com/2021/09/15/opensea-insider-trading-rumo... [2] https://startupsandecon.substack.com/p/you-dont-own-web3-a-c... [3] https://www.financemagnates.c…
Retail is in it for the pump & dump. They just hope they have good timing.
Re: Insider Trading at Coinbase
#97Earlier quoted context omitted.
I don't claim to have the evidence, I claim to have made an observation. If the parent wanted to make a counterargument they could do, it wouldn't have to be concretely evidence based because I'm not holding a forum conversation to the epistemological standard of a formal paper or proof. Just a good example or argument would be more compelling than just calling my opinion a kneejerk reaction.
Maybe if you throw some more big words in, you will get your point across. Following this thread it is pretty evident that you don't have any evidence for your "all crypto is scam", and are pretty lost when asked for proof.
No post body was provided.
Re: Insider Trading at Coinbase
#98Earlier quoted context omitted.
"That which can be asserted without evidence, can be dismissed without evidence." (Christopher Hitchens) You made the assertion, you claim to have evidence: the onus is on you to provide that evidence, otherwise how can anyone possibly challenge it?
I don't claim to have the evidence, I claim to have made an observation. If the parent wanted to make a counterargument they could do, it wouldn't have to be concretely evidence based because I'm not holding a forum conversation to the epistemological standard of a formal paper or proof. Just a good example or argument would be more compelling than just calling my opinion a kneejerk reaction.
OK then, I assert that Beacon Studios is a company to be avoided because the management is incompetent.
My evidence is that the founder is a hothead who wastes his time leaping into online flame wars with little understanding and no evidence.
Can't you understand that this mode of discussion is totally unproductive?
Re: Insider Trading at Coinbase
#99Earlier quoted context omitted.
To add to what you're saying, forex explicitly does not have insider trading rules. The problem is it's treated as a general asset. It feels like there should already be rules in place to handle if, for example, an Amazon exec went and bought property around an area prior to Amazon announcing their new HQ.
There were some Amazon couple speculating on real estate in Long Island City, Queens, NYC where Amazon was potentially opening an HQ. Amazon didn’t, and the coupled sued the condo. Trying to find the article.
I don't see the lawsuit piece here, but definitely there was a bunch of speculation going on around that time:
https://www.cnbc.com/2019/02/15/luxury-real-estate-agent-rya...
I feel like this is less someone getting an unfair benefit and more just eager people experiencing at least part of what the regulatory framework is meant to protect them from— which is being taken to the cleaners on the basis of rumours that don't end up panning out.
Re: Insider Trading at Coinbase
#100Insider trading should just be legal and fine. I mean politicians do it every day so I don’t see why normal people shouldn’t be allowed to. Or make it actually illegal not just “legal if you have enough resources”
If you check actual share prices before and after big news, you will see that it already is defacto legal.