LogFAQs > #892683622

booboy posted...

So then where should one trade if Coinbase had a lot of insider trading?

Gemini for USD into BTC/ETH trading, then move your BTC and ETH to Bittrex and Binance for altcoin trading. The only thing you'd be missing out on is LTC/USD and BCH/USD trading but using altcoin exchanges pretty much circumvents that.

The short of it is that Coinbase's CEO hates Bitcoin and prefers bcash, he colluded with bcash's head Roger Ver to introduce bcash to Coinbase, they had planned to pump up the value of bcash on other exchanges to increase the demand for it on Coinbase.

The problem was that bcash was a BTC fork back from August, so if you held any BTC on Coinbase back then you were given bcash for free, and although there is a cult of losers that prefer bcash to BTC, most people prefer BTC. So all of these people that were going to receive their free bcash from the split had planned to immediately sell it off for money then buy more BTC with it.

When bcash trading opened up on Coinbase, order books showed a shitload of people looking to trade their bcash into BTC at a ratio (i.e. I'll trade 5 bcash for 1 BTC). The market action was so overwhelmingly in favor of Bitcoin, that Coinbase straight up disabled that ratio trading and only allowed BCH/USD trading. You can see on GDAX that bcash only has one trading pair, meanwhile you can still trade ETH/BTC and LTC/BTC.

tl;dr Coinbase schemed with bcash heads to profit off of insider trading and failed miserably. If you don't like their practices you should take your business (like I did) to Gemini.

And here's a bonus fun fact: in an interview just a couple of days ago the head of bcash Roger Ver said in a CNBC interview that he believes "insider trading is a non crime"

https://www.youtube.com/watch?v=L7s7-09-oms

^Go to 5:11 for the question, he says it at 5:48

Another bonus video, here's that same loser telling Bitcoin holders that Mt Gox is a safe place to hold their BTC, this was seven months before Mt Gox got hacked and lost everybody's funds.

https://www.youtube.com/watch?v=UP1YsMlrfF0

^It's as if somebody is holding a fucking gun to his head. That is the face of bcash, he said in an interview that insider trading is a non-crime, and he was involved in the biggest insider trading scheme in crypto history, this is not a person you should have faith in.