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Buy, sell, send and receive Bitcoin Cash on Coinbase

blog.coinbase.com

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Re: Buy, sell, send and receive Bitcoin Cash on Coinbase

#22

Post by fanzhang »

Miner49er wrote: post #17
hendzen wrote: post #5

I wonder how much money Coinbase employees, friends and family made by insider trading on this announcement. Gotta love unregulated markets!

That's actually consistent with other currencies though. You can inside trade on forex markets.

Also commodities if I remember correctly, which are regulated as well.

Also there's a big theoretical and serious discussion in financial economics on why insider trading is even net bad. In some ways aren't stock analysts "insiders" with respect to your average SV engineer investing, and isn't an SV engineer who is able to fully understand a balance sheet an "insider" with respect to gambling grandma in Iowa?

Re: Buy, sell, send and receive Bitcoin Cash on Coinbase

#23

Post by cohnnton »

it's hilarious how many suckers will get drawn to this scam over and over.....

1.) omg this cryptocurrency is so transactional/rare

2.) nope. this isn't transactional at all! it costs me $350 to send $350!

3.) nope. it's not rare, coinbase just added ANOTHER transactional/rare crytocurrency!

4.) time to lose 80% on another cryotocurrency!

Re: Buy, sell, send and receive Bitcoin Cash on Coinbase

#26

Post by hisabness »

fernandopj wrote: post #2

Up 50% from past 24hs. Previous ATH was ~2500, now at USD 3100 at Coinbase. I was wondering what triggered it. This morning was already at a high price ~2100. It was somewhat stable around ~1700 just two days ago.

there were other BCH related announcements like Bitpay...

Re: Buy, sell, send and receive Bitcoin Cash on Coinbase

#27

Post by hisabness »

CyrusL wrote: post #7
lkbm wrote: post #3

Earlier quoted context omitted.

I'm pretty sure simply being available on Coinbase/gdax triggered it. There are tons casuals like me who just use that.

The commenter you're replying to is saying that he "was wondering." My reading of his comment is that earlier today he was wondering why Bitcoin Cash was up so much (prior to the Coinbase announcement). Now the price action makes sense. There were insiders who knew today was the day that Bitcoin Cash was coming to Coinbase and the price was up on that info. It's really a comment on the nature of unregulated crypto ma…

there were other BCH related announcements like Bitpay this week...

Re: Buy, sell, send and receive Bitcoin Cash on Coinbase

#29

Post by hendzen »

hisabness wrote: post #24
hendzen wrote: post #5

I wonder how much money Coinbase employees, friends and family made by insider trading on this announcement. Gotta love unregulated markets!

is it illegal to use insider info on unregulated commodities? i don't believe so...

IANAL, but with the existence of Bitcoin futures on CME and CBOE, the CFTC presumably has some jurisdiction over insider trading in BTC spot markets, insomuch as they affect futures prices.

Under the 'Misappropriation Theory', insider trading occurs when confidential information is misappropriated for a trading gain. This interpretation of the law has been used by the CFTC in the past [0] to prosecute insider trading cases.

Did Coinbase employees (or their friends/family) commit IT under this definition? I don't know, but if I was the General Counsel of Coinbase I would be hastily typing up a mandatory internal compliance policy for immediate disclosure of cryptocurrency holdings, pre-clearance of all cryptocurrency trades, and a minimum 30-day holding period to discourage day-trading. Such policies are very standard at traditional financial institutions that have access to material non-public information (MNPI) about the financial markets.

[0] - https://www.cov.com/-/media/files/corporate/publications/201...

Re: Buy, sell, send and receive Bitcoin Cash on Coinbase

#30

Post by twodave »

Why is anyone surprised by this? Coinbase sent an email out months ago saying they'd do this by Jan 1, 2018.

    Dear Coinbase customer, 
    
    ...
    We are planning to have support for bitcoin cash by 
    January 1, 2018, assuming no additional risks emerge 
    during that time.
    ...
    
    Thank you,
    
    Coinbase Team
Am I crazy?

Edit: let me answer those who think I am crazy. BTC literally tripled overnight a few weeks ago when there was "speculation" about futures contracts. Price swings in the crypto world happen over the least sensible things. My assumption was that the news from Coinbase was actually helping prop up BCH all this time, and that may have been true. I guess I took for granted that it was a sure thing.

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