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Coinbase to Suspend Trading in XRP

reuters.com

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Re: Coinbase to Suspend Trading in XRP

#31

Post by etrabroline »

est31 wrote: post #15
briefcomment wrote: post #10

Earlier quoted context omitted.

> “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.

Before wall street involvement there was a single fork of Bitcoin that was a viable currency with low transaction fees. After Wall Street involvement there are at least 3 forks, the biggest of which had fees spiking at 60 USD per transaction making it nonviable for anything but speculators, and the others having very low adoption. The protocol was decentralized but enough of the community that controlled it was bought out to bring it down.

EDIT: calling something a lie does not make it so. also, what on earth is hateful here

Re: Coinbase to Suspend Trading in XRP

#32

Post by jMyles »

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.

There can be no doubt that a mathematic - rather than collateralized - solution to stablecoins is the nonviolent solution.

Re: Coinbase to Suspend Trading in XRP

#33

Post by arcticbull »

dnpp123 wrote: post #25

IMHO good move for the ecosystem overall. Beyond that, the formulation is really funny (bad?) though: > Trading will move into limit only starting December 28, 2020 at 2:30 PM PST, and will be fully suspended on Tuesday, January 19, 2021 at 10 a.m. Pacific Standard Time Assuming limit only == post only orders (which sounds like it in the sentence), how do you expect the trading to work?

Ahhh yes [terrible thing] is [actually good] for [coin I like]. A well worn template in cryptonomics.

Re: Coinbase to Suspend Trading in XRP

#34

Post by seibelj »

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…

This is clearly FUD pushed by bitcoin cash supporters. I’m coin-agnostic and don’t get into these fights but bitcoin is 100% doing exactly what it was designed to do.

Re: Coinbase to Suspend Trading in XRP

#35

Post by ineedasername »

This is the paradox of wanting crypto to be both widespread and free of government influence. It cannot gain "market share" without interacting in some form or fashion with the regulatory structures already in place, putting it under de facto regulation of any jurisdiction of the people who want to use it.

Re: Coinbase to Suspend Trading in XRP

#36

Post by spurgu »

gnrl wrote: post #14
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.

The argument as far as I'm aware is that it's like Bitcoin, except with transaction fees low enough to make it actually usable as a currency as opposed to being a pure store of value.

Re: Coinbase to Suspend Trading in XRP

#37

Post by seibelj »

etrabroline wrote: post #24
briefcomment wrote: post #10

Earlier quoted context omitted.

> “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?

Wall Street doesn't want Bitcoin to serve its intended purpose of removing their control over the money supply. They did this by co-opting the software project with venture capital money and making technical decisions that make Bitcoin ecommerce economically infeasible due to high fees. Initially they intended to replace Bitcoin with an alt-coin whose issuance was controlled by the Blockstream corporate entity. That…

Lightning is not an “alt coin”. This whole comment is so absurd I don’t even know what to say other than it’s entirely conspiratorial and misinformed nonsense.

Re: Coinbase to Suspend Trading in XRP

#38

Post by dnpp123 »

arcticbull wrote: post #33
dnpp123 wrote: post #25

IMHO good move for the ecosystem overall. Beyond that, the formulation is really funny (bad?) though: > Trading will move into limit only starting December 28, 2020 at 2:30 PM PST, and will be fully suspended on Tuesday, January 19, 2021 at 10 a.m. Pacific Standard Time Assuming limit only == post only orders (which sounds like it in the sentence), how do you expect the trading to work?

Ahhh yes [terrible thing] is [actually good] for [coin I like]. A well worn template in cryptonomics.

That's not what was implied at all.

Re: Coinbase to Suspend Trading in XRP

#39

Post by chemmail »

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?

Blockstream bought out most of the the btc devs who had commit ability. Their end goal is to cripple btc to where it is today. The goal of this is to build an unnecessary product they can charge for on a second level. Think skimming money like charge cards do, but offering no real advantage or service beyond that. So far they have found building a new network neigh impossible. Hence the memes: Lightning only 18 months away, after 3 years of "development." You can find hilarious round table interviews with Adam Back where one asks how they can use btc for transactions like at bars with the fees dwarfing the regular transaction. Adam Back suggested using an IOU network out of paper or maybe build an IOU app for that. Can you believe that? Hilarious!
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