TechCrunch throws shade at Coinbase

[figmentofmyass]

if they concentrated their efforts more on OTC/merchant gateway and used less money on the custodial/regulatory costs. and more on promoting their business to merchants that want them. they would have stood better.

they pretty much bowed out of the payment processing sector. they make merchants hold their own private keys now, so their merchant services are pretty unattractive. i assume they've done this because the payment processing business isn't profitable enough.

regarding the comment about OTC trading, i agree. that's probably why they've just launched an OTC trading desk.

more than anything, i think they just rightly see how profitable altcoin exchanges have been during bull markets. they're preparing for the next one.

[o_e_l_e_o]

coinbase is just another subsidiary arm of DCG.co. who seem more interested in the capitalist greed than the bitcoin/blockchain purist mindset.

It is true to say that Coinbase are far more interested in pure profit than they are in being blockchain or bitcoin purists, promoters, or users, but they are not a subsidiary arm of DCG. Digital Currency Group provided early funding to many crypto based projects, including Coinbase, Kraken, Ripple and BitPay, but these projects are not wholly or in part owned by DCG and therefore are not subsidiaries. Having said that, it is very suspicious that Barry Silbert (owner of DCG) is a big promoter of MANA, and apparently bought a ton more over the last few weeks prior to the Coinbase announcing they will start trading it. I wouldn't be surprised if most of the Coinbase staff had done a similar thing. This is exactly what happened during the launch of BCH. They are a shady exchange and there are far better alternatives out there.

[darklus123]

coinbase is just another subsidiary arm of DCG.co. who seem more interested in the capitalist greed than the bitcoin/blockchain purist mindset.

It is true to say that Coinbase are far more interested in pure profit than they are in being blockchain or bitcoin purists, promoters, or users, but they are not a subsidiary arm of DCG. Digital Currency Group provided early funding to many crypto based projects, including Coinbase, Kraken, Ripple and BitPay, but these projects are not wholly or in part owned by DCG and therefore are not subsidiaries. Having said that, it is very suspicious that Barry Silbert (owner of DCG) is a big promoter of MANA, and apparently bought a ton more over the last few weeks prior to the Coinbase announcing they will start trading it. I wouldn't be surprised if most of the Coinbase staff had done a similar thing. This is exactly what happened during the launch of BCH. They are a shady exchange and there are far better alternatives out there.

Informed,I am not aware of this current moves made by Coinbase but since then coinbase has undoubtedly interested only with their profits. If that is the case then it is not surprising anymore that they will start to make shadu moves for their benefits

[avikz]

coinbase is just another subsidiary arm of DCG.co. who seem more interested in the capitalist greed than the bitcoin/blockchain purist mindset.

It is true to say that Coinbase are far more interested in pure profit than they are in being blockchain or bitcoin purists, promoters, or users, but they are not a subsidiary arm of DCG. Digital Currency Group provided early funding to many crypto based projects, including Coinbase, Kraken, Ripple and BitPay, but these projects are not wholly or in part owned by DCG and therefore are not subsidiaries. Having said that, it is very suspicious that Barry Silbert (owner of DCG) is a big promoter of MANA, and apparently bought a ton more over the last few weeks prior to the Coinbase announcing they will start trading it. I wouldn't be surprised if most of the Coinbase staff had done a similar thing. This is exactly what happened during the launch of BCH. They are a shady exchange and there are far better alternatives out there.

Informed,I am not aware of this current moves made by Coinbase but since then coinbase has undoubtedly interested only with their profits. If that is the case then it is not surprising anymore that they will start to make shadu moves for their benefits

Coinbase is a business entity and they will look at their profits first. There's no surprising element behind this decision. There will be hell lot of other coins which we may think good but Coinbase doesn't. However, I don't think Coinbase has dropped the idea of listing other coins as they had decided earlier. They are just taking some cautious move due to the current market situation. Because the market is not going strong for a lot of businesses and probably that's the reason why they want to play it slow.

Please don't think that Coinbase has taken some shady move driven by the profitability because that's how any business functions. Profit and scaling opportunity!

[Kakmakr]

I previously heard that exchanges are charging Alt coins to be listed on their exchange, so this is a quick method for Coinbase to make a few millions by just listing these coins. 

They also need some other "new" revenue of income, since transactions are on a all time low now, with the Bitcoin price being this low. So, the quick solution to pay the bills are just to add some other coins with some trade volumes. 

Does this makes sense?

[o_e_l_e_o]

Please don't think that Coinbase has taken some shady move driven by the profitability because that's how any business functions.

I mean yes, obviously they are a business and their are entitled to make any moves they see fit to increase their revenue. However, these moves are decidedly shady.

They released a framework 3 months ago for what coins they would consider listing, available here: Coinbase Digital Asset Framework. They then come out and list a bunch of coins that do not meet their own criteria. It is also then revealed that Coinbase investors are also heavily invested in the coins that they have chosen to list: https://beincrypto.com/questionable-coinbase-listing-process-reveals-digital-currency-group-connection/. Given that Coinbase are known to have undertaken shady insider trading surrounding their support of BCH, it isn't exactly a far cry to suspect they would do it again.

[BitHodler]

It is also then revealed that Coinbase investors are also heavily invested in the coins that they have chosen to list: https://beincrypto.com/questionable-coinbase-listing-process-reveals-digital-currency-group-connection/. Given that Coinbase are known to have undertaken shady insider trading surrounding their support of BCH, it isn't exactly a far cry to suspect they would do it again.

That's what I have been reading about as well, and when you actually start to do your own research, the insider trading accusations start to become more than obvious with the connected market activity.

Some coins have been pumped out of nothing before Coinbase announced they were considering listing them, and later you find out that these coins have been added to Coinbase.

It's pretty shocking that one of the most important fiat entry points is participating in this shady business, because no one gives a shit about coins as 0x and ETC, especially not after the investors are done dumping.

[KingZee]

That's what I have been reading about as well, and when you actually start to do your own research, the insider trading accusations start to become more than obvious with the connected market activity.

Some coins have been pumped out of nothing before Coinbase announced they were considering listing them, and later you find out that these coins have been added to Coinbase.

It's pretty shocking that one of the most important fiat entry points is participating in this shady business, because no one gives a shit about coins as 0x and ETC, especially not after the investors are done dumping.

That makes far more sense than the argument that coinbase just want more markets to benefit off exchange fees..

After reading the article from @o_e_l_e_o it looks like the "Digital Currency Group" basically has a massive say in the choice of names being added to Coinbase... I tried to find more information about them, but it looks like they own CoinDesk too? The majority of other blogs are sourced from it..

Their "portfolio" includes a hell of a lot of projects not just limited to coins : https://dcg.co/portfolio/ Even if it doesn't include all the coins coinbase announced, but that might just be because the ones that are included like XRP, Augur, Decentraland are going to be pumped sooner than the others

Pretty interesting finds overall.. Good catch o_e_l_e_o

[nutildah]

NEO (NEO) - has potential

I just quickly skimmed some information and news about it, I might spend more time to understand it. Could you give a quick opinion on why do you believe in it?

Its kind of played out to say its the "Chinese Ethereum," but the thing is if the Chinese government ever does come to terms with ICOs then probably a lot of Chinese language-based ICOs are going to start using it to raise sales... I just think it "has potential" but I personally wouldn't invest in it.

One intriguing thing about it is how they separated the whole idea of "gas" into its own cryptocurrency that you need in order to pay for transactions... In theory this is a cool idea because it tx fees aren't inherently tied to the price of NEO, they're tied to the price of another coin, which at the moment, is far less costly than NEO itself.

[manfredmann]

XRP is way better than other crypto being listed. In fact it even surpasses eth now on its marketcap volume and this is a good indicator that the crypto has gone some.good community and support of the project. Well if you wish to earn then invest on xrp trust me you will be able tp double your investment in the near future.

[o_e_l_e_o]

After reading the article from @o_e_l_e_o it looks like the "Digital Currency Group" basically has a massive say in the choice of names being added to Coinbase.

Exactly this. It seems like a few key players are essentially using Coinbase to run their own massive pump and dump scheme, or at very least, insider trading scandal.

XRP is way better than other crypto being listed. In fact it even surpasses eth now on its marketcap volume and this is a good indicator that the crypto has gone some.good community and support of the project. Well if you wish to earn then invest on xrp trust me you will be able tp double your investment in the near future.

Marketcap is an almost meaningless statistic.

XRP is at least a well known and established coin, regardless of your opinion on it. The same cannot be said about many of the shitcoins that Coinbase are choosing to list. Interestingly however, XRP would also not pass Coinbase's own Digital Asset Framework, given that the very first point (1.1) in the Framework includes that the coin should be decentralized, with XRP most certainly is not.