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Insider Trading at Coinbase

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Re: Insider Trading at Coinbase

#151

Post by hanniabu »

parkingrift wrote: post #127
TruthIsHeresy wrote: post #122

Earlier quoted context omitted.

>Crypto fans get mad when deregulated finance is comically unfair. I’m curious as to where you’ve seen this sentiment from crypto fans? It seems most of the people getting angry about this are people who already disliked crypto and are using this event to add more fuel to the flames.

I doubt non crypto fans are doing investigatory research into Coinbase insider crypto purchases and complaining about it on Twitter, Reddit, and HN. Just a hunch.

Is that a joke? That group is always looking for things they can point to and say "see I told you crypto was bad". This is typical of any industry or topic to actively look for confirmation bias, it's just human nature.

Re: Insider Trading at Coinbase

#152

Post by cuteboy19 »

vlan0 wrote: post #81
londons_explore wrote: post #13

Earlier quoted context omitted.

Anyone smart would use a new wallet each time.

There was a time when this would work. But as we've seen with high profile taken downs, the folks like those at Chainalysis make it incredibly hard to obfuscate with any degree of certainty.

Withdrawals from Coinbase to would be indistinguishable from temporary insider trading accounts. And there are certainly a lot of withdrawals. And in many cases the trading happens off chain anyways

Re: Insider Trading at Coinbase

#153

Post by cuteboy19 »

lvl102 wrote: post #28
logicchains wrote: post #14

Earlier quoted context omitted.

Economically speaking insider trading represents a net positive for the market as it brings information onto the market sooner, allows it to reach a better price sooner. The only people hurt by insider trading are those to whom the person doing insider trading has a fiduciary duty, which for a Coinbase employee would be Coinbase itself. Other markets like commodities and real estate have gotten along perfectly fine w…

None of this is true. Don’t compare some shitcoin with nonexistent liquidity to real-world commodities.

There is no economic utility in this system to begin with. So even if this were true, they would be optimising a quantity that would eventually be multiplied by 0 anyways.

Re: Insider Trading at Coinbase

#154

Post by ricardolopes »

hmate9 wrote: post #93
axg11 wrote: post #91

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.

No they don’t. You trade with other users not coinbase directly

That's not how coinbase operates. You have a "Buy " button, and you expect to get that coin without fail, every time. If a new token launches, you should be able to buy it without waiting for users to deposit and sell. Maybe you're confusing with coinbase pro, which uses the more traditional order book model, or with other exchanges?

Re: Insider Trading at Coinbase

#155

Post by toomuchtodo »

nojs wrote: post #147
rchaud wrote: post #128

Earlier quoted context omitted.

A lot of the rah-rah boosterism of "decentralization" is coming from VCs that saw how much money there is to be made by ignoring laws and regulations for long enough. Airbnb and Uber are the most brazen examples of this. What's left unsaid of course is that the only interest deep-pocketed investors have in dismantling elements of the financial system (MC/Visa dominance, KYC/AML checks, suspicious transactions disclos…

I think this is the expected cycle of business long term. 1. Entrepreneur notices an opportunity to avoid overzealous regulations and provide better value to customers 2. Everyone wants a piece of the action, bad actors start to move in and updated regulation is required 3. New regulations get out of hand and start to become extremely costly to comply with (see banks) 4. New entrepreneur comes along with a novel way…

“Overzealous regulation” = regulation they prevents me as an “entrepreneur” from profiting off of unsophisticated people, in this example.

Re: Insider Trading at Coinbase

#156

Post by Traster »

lawrenceyan wrote: post #87

If you're jaded by web3, just imagine how people back in the day must have viewed web2. Now take a look at the the top 10 companies listed on the S&P 500.

This is literally the scam of Web3. Just because you name something Web3 doesn't mean it's going to become the next big thing. There is no relationship between the success of Web2 and what will happen with Web3. Do you know how I know that? Because Web3 was coined by Sir Tim Berners Lee in 2006 as the semantic web and it didn't go anywhere.

"Oh well, you see web3 is like web2 + 1 and we know web1+1 was great so web2+1 must be even better". It's an idiots logic.

Re: Insider Trading at Coinbase

#157

Post by reedjosh »

vimy wrote: post #126
once_inc wrote: post #94

Earlier quoted context omitted.

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".

> Also: obligatory "not your keys, not your coins" and "don't keep your coins on an exchange". Unless lobbying can still stop it the EU parlement will outlaw self hosted wallets. Only coins on exchanges will be allowed.

That's just evil, but also, likely not terribly enforceable.

It would just bring crypto back to its roots as a government resistant alt currency. Being uncontrollable was the whole point. Particularly regarding Bitcoin and Monero.

Re: Insider Trading at Coinbase

#158

Post by lxgr »

vimy wrote: post #126
once_inc wrote: post #94

Earlier quoted context omitted.

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".

> Also: obligatory "not your keys, not your coins" and "don't keep your coins on an exchange". Unless lobbying can still stop it the EU parlement will outlaw self hosted wallets. Only coins on exchanges will be allowed.

> EU parlement will outlaw self hosted wallets

Isn't it self-hosted anonymous wallets?

Re: Insider Trading at Coinbase

#159

Post by lxgr »

reedjosh wrote: post #157
vimy wrote: post #126

Earlier quoted context omitted.

> Also: obligatory "not your keys, not your coins" and "don't keep your coins on an exchange". Unless lobbying can still stop it the EU parlement will outlaw self hosted wallets. Only coins on exchanges will be allowed.

That's just evil, but also, likely not terribly enforceable. It would just bring crypto back to its roots as a government resistant alt currency. Being uncontrollable was the whole point. Particularly regarding Bitcoin and Monero.

At least at this point in time, if you control all of the on/off-ramps, you can very effectively make any cryptocurrency non-viable as money.

Re: Insider Trading at Coinbase

#160

Post by ceejayoz »

TruthIsHeresy wrote: post #122
parkingrift wrote: post #107

Crypto fans want deregulated finance. Crypto fans get mad when deregulated finance is comically unfair. You really can’t make this up. Embrace this. It’s exactly what crypto is all about.

>Crypto fans get mad when deregulated finance is comically unfair. I’m curious as to where you’ve seen this sentiment from crypto fans? It seems most of the people getting angry about this are people who already disliked crypto and are using this event to add more fuel to the flames.

> I’m curious as to where you’ve seen this sentiment from crypto fans?

I mean, Ethereum itself forked over "hey that's no fair" when the DAO got compromised.

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