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

Coinbase to Suspend Trading in XRP

reuters.com

Post reply on HN
Print view View original

11–20 of 209 posts

Re: Coinbase to Suspend Trading in XRP

#11

Post by mariocesar »

gotem wrote: post #7
mariocesar wrote: post #5

Earlier quoted context omitted.

> Cryptocurrency exchange Coinbase Inc said on Monday it would suspend trading in cryptocurrency XRP after U.S. regulators last week charged associated blockchain firm Ripple with conducting a $1.3 billion unregistered securities offering. It reads to be a good reason to suspend XRP trading

Sorry, missed that somehow. Still seems oddly suspicious that it coincides with Coinbase's IPO.

They are protecting themselves to Not being complicit, or better not to look complicit to the SEC.

Re: Coinbase to Suspend Trading in XRP

#13

Post by revel »

Terrible news for XRP and Ripple but nobody can be surprised by this. Next up we may see the delisting of some stable coins given the SEC's advice about establishing a nexus in the US. I'm not sure how this will work for a decentralized coin like maker / dai, so perhaps this is the end for them. However, this seems consistent with other regulation since they operate like an autonomous fx swap fund.

Re: Coinbase to Suspend Trading in XRP

#14

Post by gnrl »

kylebenzle wrote: post #2

They never should have allowed it in the first place. By testing the waters of trading custodial currencies they were really pushing the limits. BTC has been a joke ever since the GitHub repo was hijacked by Blockstream and Adam Back. The only interesting cryptocurrencies are Ethereum, Bitcoin Cash and Monero. The rest are either obvious scams or dead ends at this point. A lot of people were holding out hope for dece…

I don't see any additional value of bcash over bitcoin. Eth and Monero I agree though, each of them bring fundamental values additionally to btc.

Re: Coinbase to Suspend Trading in XRP

#15

Post by est31 »

briefcomment wrote: post #10
kylebenzle wrote: post #2

They never should have allowed it in the first place. By testing the waters of trading custodial currencies they were really pushing the limits. BTC has been a joke ever since the GitHub repo was hijacked by Blockstream and Adam Back. The only interesting cryptocurrencies are Ethereum, Bitcoin Cash and Monero. The rest are either obvious scams or dead ends at this point. A lot of people were holding out hope for dece…

> “BTC has been a joke ever since the GitHub repo was hijacked by Blockstream and Adam Back” Could you spell out the implications of this?

I don't think there are any major implications. The point of blockchain currencies is to be decentralized so hacking a random github repo shouldn't have major implications. It's not even the only bitcoin node implementation out there at this point.

Re: Coinbase to Suspend Trading in XRP

#16

Post by gotem »

mariocesar wrote: post #11
gotem wrote: post #7

Earlier quoted context omitted.

Sorry, missed that somehow. Still seems oddly suspicious that it coincides with Coinbase's IPO.

They are protecting themselves to Not being complicit, or better not to look complicit to the SEC.

Oh okay. That makes more sense. Still a bit weird that it's out of a sense of self preservation instead of caring that it was potentially immoral in the first place.

Re: Coinbase to Suspend Trading in XRP

#17

Post by whoisninja »

briefcomment wrote: post #10
kylebenzle wrote: post #2

They never should have allowed it in the first place. By testing the waters of trading custodial currencies they were really pushing the limits. BTC has been a joke ever since the GitHub repo was hijacked by Blockstream and Adam Back. The only interesting cryptocurrencies are Ethereum, Bitcoin Cash and Monero. The rest are either obvious scams or dead ends at this point. A lot of people were holding out hope for dece…

> “BTC has been a joke ever since the GitHub repo was hijacked by Blockstream and Adam Back” Could you spell out the implications of this?

misinformed take

Blockstream has almost no say at this point

some of the top contributors are either independent or work with Chaincode labs

over the last 10 years, Bitcoin is the most resilient to protocol changes and centralization

Ethereum, Bitcoin cash and Monero are all either centralized or bad implementations

Re: Coinbase to Suspend Trading in XRP

#18

Post by academi »

revel wrote: post #13

Terrible news for XRP and Ripple but nobody can be surprised by this. Next up we may see the delisting of some stable coins given the SEC's advice about establishing a nexus in the US. I'm not sure how this will work for a decentralized coin like maker / dai, so perhaps this is the end for them. However, this seems consistent with other regulation since they operate like an autonomous fx swap fund.

I’m surprised, because I don’t see how it contributes to the market.

Re: Coinbase to Suspend Trading in XRP

#19

Post by traceddd »

kylebenzle wrote: post #2

They never should have allowed it in the first place. By testing the waters of trading custodial currencies they were really pushing the limits. BTC has been a joke ever since the GitHub repo was hijacked by Blockstream and Adam Back. The only interesting cryptocurrencies are Ethereum, Bitcoin Cash and Monero. The rest are either obvious scams or dead ends at this point. A lot of people were holding out hope for dece…

It says more about bcash than bitcoin that it’s supporters feel the need to push a (false) narrative anywhere they can.

Re: Coinbase to Suspend Trading in XRP

#20

Post by Kalium »

gotem wrote: post #16
mariocesar wrote: post #11

Earlier quoted context omitted.

They are protecting themselves to Not being complicit, or better not to look complicit to the SEC.

Oh okay. That makes more sense. Still a bit weird that it's out of a sense of self preservation instead of caring that it was potentially immoral in the first place.

This is the kind of thing a company does when something becomes a financial and legal liability.
Post reply on HN