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Bitcoin Cash deals frozen as insider trading is probed

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Re: Bitcoin Cash deals frozen as insider trading is probed

#121

Post by cevn »

rokhayakebe wrote: post #52
cat199 wrote: post #23

Earlier quoted context omitted.

Companies release products which will change the value of their stocks all the time.. this is exactly how such events are managed. What else could be done? lock up employees at work for a week while the market adjusts?

What else could be done? lock up employees at work for a week while the market adjusts? An email to everyone, a press release, a blog post stating this new feature will be available to everyone in x days at time T. That would be fair game.

OK, so what about the planning period where you talk to your engineers and ask if they can implement it? Or does the CEO just shoot off the email without consulting anyone? The price would shoot up as soon as that email was sent out, so if anyone was consulted about it then they could insider trade.

Re: Bitcoin Cash deals frozen as insider trading is probed

#122

Post by rawnlq »

dustingetz wrote: post #79

I watched this happen live. There was a very obvious trading software malfunction. Here's what I watched happen. People could place orders before trading started. I was watching BCH/USD and BCH/BTC which had a fixed price, $3100 USD and 3.00 BTC respectively. BCH/USD had a huge amount of buy pressure (people buying BCH with cash); BCH/BTC had a huge amount of sell pressure (people dumping the airdrop). Only BCH/USD w…

That reddit link was incredibly informative and worth reading. It finally explains why /r/bitcoin looks like such a meme-driven asylum. All the propaganda, censorship, astroturfing and fake news reminds me of how /r/The_Donald gained support.

EDIT: And theymos's reply with the other side of the story https://np.reddit.com/r/BitcoinMarkets/comments/6rxw7k/infor...

Re: Bitcoin Cash deals frozen as insider trading is probed

#123

Post by partiallypro »

blhack wrote: post #96

Here's the stickiest thing about this entire thing to me: the name. Roger Ver (one of the people behind bcash) has said repeatedly that he believes that his fork deserves the name "Bitcoin" and that it is the "real" bitcoin. It seems obvious that the intent here is to confuse people. This, to me, seems like blatant fraud. It is concerning to me that coinbase would continue to allow this market confusion to build by l…

To me it seems like Bitcoin Cash profits greatly just from having the word "Bitcoin" in front of it. Surprised no one just copyrights it and sues other coin makers. I guess that's against he community, but imo it needs to be done.

I don't hold any bitcoin or bitcoin cash...I say this as just a general consumer. The "bitcoin" name has brand value, and having "bitcoin" cash is going to inflate the market value of the it and confuse consumers into thinking some coins are more trustworthy. Especially as this goes more mainstream and your Aunt and Grandma can buy BCH on Coinbase. Or whatever new altcoin comes up that tags on the words "bitcoin."

Re: Bitcoin Cash deals frozen as insider trading is probed

#124

Post by makomk »

mancerayder wrote: post #112

Why is the name Blockstream constantly popping up as a source of blame for BTC's issues? That seems to be a theme in the last day or two by the BCH proponents.

Blockstream is a company developing blockchain technologies that employs some of the Bitcoin Core developers and the main developer of the Lightning Network for off-chain transaction channels. (Bitcoin Core is the software usually used to run full Bitcoin nodes; it's basically Satoshi's original client, renamed to clarify that users don't have to choose it as their wallet back when running a full node started to become user-unfriendly.) It's become associated with a conspiracy theory that claims the entire Bitcoin Core development community, including the developers not employed by them, is plotting with the banking industry to sabotage on-chain Bitcoin in order to force everyone to use banks to transfer Bitcoins, basically.

Re: Bitcoin Cash deals frozen as insider trading is probed

#125

Post by erikb »

ohstopitu wrote: post #103
blhack wrote: post #96

Here's the stickiest thing about this entire thing to me: the name. Roger Ver (one of the people behind bcash) has said repeatedly that he believes that his fork deserves the name "Bitcoin" and that it is the "real" bitcoin. It seems obvious that the intent here is to confuse people. This, to me, seems like blatant fraud. It is concerning to me that coinbase would continue to allow this market confusion to build by l…

I have neither, Why can't he call his fork Bitcoin Cash? He claims that it adheres to the Bitcoin.org idea than BTC. Him & a vocal community (/r/btc) appears to believe in that. What gives BTC (and /r/bitcoin) the right to the name Bitcoin considering both are forks from the original chain?

One is the fork and the other is the original. By not taking the Bitcoin name the Bitcoin Cash group has already admitted that they are the fork. They should be proud about it and give themselves a new name that stands for their ideals.

That said I personally don't believe that the name will make a difference in this battle.

Re: Bitcoin Cash deals frozen as insider trading is probed

#126

Post by kbwt »

blhack wrote: post #109
kbwt wrote: post #107

Earlier quoted context omitted.

And that continuity can split and move back-and-forth between forks, as they gain or lose support. The sum of XBT+BCH price on exchanges fluctuated less than either coin alone.

Are you trying to say that the price of bitcoin crashed from ~$3000 to ~$300 immediately on August 1st 2017, and that coincidentally at the same time, a brand new asset appeared that had the same price that bitcoin did a few seconds earlier? That's just absolutely absurd.

It split into ~$2700 plus ~$300. Not sure what the exact numbers were, but there was a clear pattern of one falling as the other rose, and same thing the other way around.

Re: Bitcoin Cash deals frozen as insider trading is probed

#127

Post by michaelchisari »

stygiansonic wrote: post #97
notyourday wrote: post #45

Earlier quoted context omitted.

Coinbase software does not do basic market unlock?! Is it another company that did not get anyone from Island or InstaNet or Brut?

As another comment pointed out, this is yet another example of cryptocurrency markets having to relearn what the financial industry has already learned. In a way, it's interesting to see this sort of recapitulation take place.

It's been interesting watching 100 years of financial lessons, failures and calls for regulation playing out at 20x speed.

Re: Bitcoin Cash deals frozen as insider trading is probed

#128

Post by cesarb »

SilasX wrote: post #119
blhack wrote: post #96

Here's the stickiest thing about this entire thing to me: the name. Roger Ver (one of the people behind bcash) has said repeatedly that he believes that his fork deserves the name "Bitcoin" and that it is the "real" bitcoin. It seems obvious that the intent here is to confuse people. This, to me, seems like blatant fraud. It is concerning to me that coinbase would continue to allow this market confusion to build by l…

It's really an open question which one is the "real" Bitcoin and merits having "Bitcoin" in the name. It's like saying that the People's Front of Judea is fraudulent because they don't really represent Judeans like the Judean People's Front.

One possible way to distinguish between both would be continuity: if you had a Bitcoin node running several months before the announcement, and kept running the same unchanged software until today, which one would your node be following now? That one probably has a bigger claim to both being the "real" Bitcoin, and having the plain unadorned "Bitcoin" name.

As to whether it merits having "Bitcoin" in the name, both are close enough that one could be considered a small variant of the other. That might be enough for the other one to merit being called "Bitcoin something".

Re: Bitcoin Cash deals frozen as insider trading is probed

#129

Post by dahdum »

Watching this all go down, I don't see why it would be insider trading. They opened their retail side (Coinbase) at the same time as their exchange (GDAX) and gave minutes notice before going live. There was about 0% chance there would be enough liquidity on the exchange to support a dual launch, so the price skyrocketed. There wasn't time to deposit enough BCH to give liquidity either. I don't care about traders making bad moves on GDAX, but to screw their retail clients so much is not cool.

Re: Bitcoin Cash deals frozen as insider trading is probed

#130

Post by tr4cefl0w »

Alex3917 wrote: post #101
blhack wrote: post #96

Here's the stickiest thing about this entire thing to me: the name. Roger Ver (one of the people behind bcash) has said repeatedly that he believes that his fork deserves the name "Bitcoin" and that it is the "real" bitcoin. It seems obvious that the intent here is to confuse people. This, to me, seems like blatant fraud. It is concerning to me that coinbase would continue to allow this market confusion to build by l…

Bitcoin Cash is the real Bitcoin. They should just change the forked version to BCore or BStream, so as not to confuse people.

I said it before and I’ll say it again, block size increase alone is not sustainable. The BCash boyz are stubborn and in denial. Might work for now but in the long term they will need another fork to increase the block size again and so on. They don’t have a Lightning Network either which is already available on Bitcoin Testnet and proved to be extremely fast (almost instant) at very low cost. I hold both but I’m realistic. I only hold BCash because I know the price is being pumped so I’ll make some money with it.
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