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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

#41

Post by huangc10 »

twodave wrote: post #30

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 "specula…

> assuming no additional risks emerge

The letter was simply a possible notion. No guarantee. Why not send out another letter saying they were going to release it on this day?

I know why, because they wanted to manipulate the market.

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

#42

Post by twodave »

will_brown wrote: post #36
twodave wrote: post #30

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 "specula…

From the time this was posted to your comment, Bitcoin Cash went up 300%.

That's why I'm confused. I would have thought people would have been stocking up starting back in August (and especially as December passed and it wasn't on Coinbase/GDAX yet).

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

#43

Post by hendzen »

stevebmark wrote: post #38
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!

I think it would be pretty cool to see Coinbase employees go to prison for insider trading. Not out of any sort of vengeance, I just think it would be a huge paradigm shift in cryptoland. Continuing saga between regulation and pure greed/manipulation of cryptos. I assume most country's (especially the US's) federal regulations are way too slow to verify this is in fact true illegal insider trading though?

I don't really know if any Coinbase employees really committed insider trading - I'm just speculating based on the fact that the price of BCH appeared to rise significantly before the public announcement.

Its also unclear what internal firm policies that Coinbase has in place to prevent insider trading, see my reply to hisabness for more on that and an explanation (note: IANAL) of how regulation could be applied.

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

#44

Post by wmf »

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!

This was announced on Aug 3rd: https://blog.coinbase.com/update-on-bitcoin-cash-8a67a7e8dbd...

At that time the price was just under $500 so the public had plenty of time to get in. Also note that the price could very well drop as Coinbase customers sell their "free" BCH.

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

#45

Post by birdy58033 »

twodave wrote: post #30

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 "specula…

The next line was "Once supported, customers will be able to withdraw bitcoin cash. We'll make a determination at a later date about adding trading support."

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

#46

Post by wmf »

derefr wrote: post #35
fanzhang wrote: post #22

Earlier quoted context omitted.

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?

My understanding is that "knowledgeable outsiders", in executing trades, effectively make accessible whatever esoteric-but-technically-public information they had to the market, and so help prices adjust toward their correct value. Knowledgeable insiders, on the other hand, can execute "hidden" trades that aren't revealed to the public market—and so don't provide information to the market. This distorts the market, m…

If these hidden trades (dark pools?) are possible, why can't knowledgeable outsiders also use them?

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

#47

Post by hendzen »

wmf wrote: post #44
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!

This was announced on Aug 3rd: https://blog.coinbase.com/update-on-bitcoin-cash-8a67a7e8dbd... At that time the price was just under $500 so the public had plenty of time to get in. Also note that the price could very well drop as Coinbase customers sell their "free" BCH.

> Once supported, customers will be able to withdraw bitcoin cash. We’ll make a determination at a later date about adding trading support.

It's the trading support part that was not public, and that part is very important as it significantly widens the population of people who can easily purchase BCH.

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

#49

Post by Cyberdog »

stevebmark wrote: post #38
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!

I think it would be pretty cool to see Coinbase employees go to prison for insider trading. Not out of any sort of vengeance, I just think it would be a huge paradigm shift in cryptoland. Continuing saga between regulation and pure greed/manipulation of cryptos. I assume most country's (especially the US's) federal regulations are way too slow to verify this is in fact true illegal insider trading though?

There is nothing cool about tearing people away from their families and locking them in tiny cages for such a nebulous and arguably victimless "crime."

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

#50

Post by twodave »

huangc10 wrote: post #41
twodave wrote: post #30

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 "specula…

> assuming no additional risks emerge The letter was simply a possible notion. No guarantee. Why not send out another letter saying they were going to release it on this day? I know why, because they wanted to manipulate the market.

I thought it was pretty obvious if they committed to giving people their BCH balance they'd have to at least halfway support it. Plus, they never reported any setbacks. The people I talk crypto with and myself are already busy trying to guess what will make it on Coinbase/GDAX after BCH. If this development is any indicator, we're wasting our time since we can just wait until they announce and buy in the period between announcement and launch (assuming they announce the next one before launching it).
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