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CB again (Sorry) I know why they aren't listing XRP

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6 hours ago, 7h3i19 said:

I have assumed this whole time that cb wont add xrp. But now the thing that gets me is Brad saying in his latest CNBC appearance that coinbase is gonna do whatever they want to do amd they can announce things however and whenever they want. It kinda sounds like something is going on at least..

I think you might be right. So: the obvious question still remaning: When Moon, When Lambo?:dash1:

Edited by DutchTom
typo

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Stab in the dark here but could it be because Coinbase is heavily invested in BTC? Would an XRP listing potentially lower the value of BTC with everyone jumping ship to XRP? As some have said, maybe Coinbase are trying to hold Ripple to ransom with demands of massive amounts of XRP just to try and offset their potential losses?

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CB is rife with problems right now. And XRP’s liquidity is going to increase significantly over the next two quarters while use cases are going to start going live. Brad & co are looking out over a 3-5-10 year horizon. CB does not have any leverage IMO. 

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I thought it was also really interesting that one of the guys on CNBC after Brad's interview was asking why coinbase doesn't just add stellar instead.. the shilling was awkward. 

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16 minutes ago, 7h3i19 said:

I thought it was also really interesting that one of the guys on CNBC after Brad's interview was asking why coinbase doesn't just add stellar instead.. the shilling was awkward. 

Yes gave me a gut feeling that stellar will be added to Coinbase 

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I don't think CB will ever add Ripple. I watched the interview with the CB CEO the other day and he didn't show any signs of positivity whatsoever towards XRP, even though he was indirectly answering questions about it.

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5 hours ago, cuber said:

Explain why you think this please.

I can't say why he thinks it, but I can tell you what the default skeptic position is.

Consider the thought experiment where Ripple goes rogue and attempts to sabotage their own validators, amend the protocol with hostile changes,  rewrite ledger state or what have you. How well will the network respond to this? Can we have a situation where my node trusts validators V1,.., Vn and your node trusts validators U1,...,Un, and there are absolutely no overlap and we are not at risk of forking? If Ripple magically imploded one day, would the network stay consistent or would it fork 10 different ways?

I don't know if you followed this, but the latest analysis results from the XRP LCP paper seem to indicate that a great deal of UNL overlap is needed, between all nodes in the network (the _entire_ network) to avoid forks. In practice, this problem isn't quite as bad as it seems, but it also can't be completely ignored. 

Ripple developed a new BFT/consensus algorithm called Cobalt, whose network will remain consistent so long as any two nodes can be connected by a path, where along each adjacent nodes in the path, there is >60% UNL overlap. That is leaps and bounds better than the theoretical guarantees we have on the XRP LCP. The idea is that you could have a Cobalt layer that votes in a fixed UNL periodically for the XRPL to operate with. 

But until they do this, and we can actually observe the UNLs diverging away from just all having Ripple's validators as a majority, the skeptics can keep claiming it's centralized, and technically they are not wrong.

The idea with investing is to look to the future... but that is another matter.

Edited by corak

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Speaking on CNBC the other day the President of Coinbase said about the new index fund, “It’s a market cap weighted index fund.” He reiterated later in the broadcast that “We are committed to adding more assets to the exchange and if we add assets to the exchange it will show up in the fund. IT WILL BE MARKET MARKET CAP WEIGHTED! THAT IS WHAT IS GOING TO DRIVE WHAT SHOWS UP ON THE EXCHANGE and therefore on the index and in the fund!”

He also said, “We are in fact hiring 500 additional reps this quarter…the ques are down, service levels are back where we need them to be, and as long as we don’t have some spike like we had in December we should be fine…and by the end of this quarter we will be in great shape.

So reading between the lines, he is saying that service is currently up to par. So why the massive hiring? It’s safe to assume that they are adding at least one more crypto at the end of the 1st or in the beginning of the 2nd quarter. And from his own words “market-cap weighted cryptos” XRP is the obvious choice. I agree with the analysis in this thread and the video as well. He was also asked if they will “hold the actual cryptocurrencies that are on the exchange in order to reflect what’s in the fund, are you buying?” And he answered, “Yes, absolutely.” Having said that it is safe to assume that they are in the process of working out a deal with Ripple or they have already done so and are just waiting to surprise the industry with the addition. The only other alternative, going by what he said, is that they beleive that they are so powerful that they can add another coin and drive that market cap just by the listing to rival XRP's cap. Just my take, hoping I’m correct on the first part.    

Edited by wdelgran

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Thanks @corak, i'm nowhere near clued up with this technology as you clearly are and i struggle to understand what you have just explained to me. I am aware of Ripple's commitment to remove one validator for every two third party validators which become part of the ledger and i thought that this would be enough to ensure full decentralization. There's clearly more to this than i can comprehend.

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4 hours ago, wdelgran said:

Speaking on CNBC the other day the President of Coinbase said about the new index fund, “It’s a market cap weighted index fund.” He reiterated later in the broadcast that “We are committed to adding more assets to the exchange and if we add assets to the exchange it will show up in the fund. IT WILL BE MARKET MARKET CAP WEIGHTED! THAT IS WHAT IS GOING TO DRIVE WHAT SHOWS UP ON THE EXCHANGE and therefore on the index and in the fund!”

He also said, “We are in fact hiring 500 additional reps this quarter…the ques are down, service levels are back where we need them to be, and as long as we don’t have some spike like we had in December we should be fine…and by the end of this quarter we will be in great shape.

So reading between the lines, he is saying that service is currently up to par. So why the massive hiring? It’s safe to assume that they are adding at least one more crypto at the end of the 1st or in the beginning of the 2nd quarter. And from his own words “market-cap weighted cryptos” XRP is the obvious choice. I agree with the analysis in this thread and the video as well. He was also asked if they will “hold the actual cryptocurrencies that are on the exchange in order to reflect what’s in the fund, are you buying?” And he answered, “Yes, absolutely.” Having said that it is safe to assume that they are in the process of working out a deal with Ripple or they have already done so and are just waiting to surprise the industry with the addition. The only other alternative, going by what he said, is that they beleive that they are so powerful that they can add another coin and drive that market cap just by the listing to rival XRP's cap. Just my take, hoping I’m correct on the first part.    

I rewatched the video and I am not sure "Market cap weighted" means what you think it means. I think what Coinbase meant was that for the coins currently listed (i.e., Bitcoin, Ethereum, Bitcoin Cash, and Litecoin), the performance of the index fund would be weighted by the market cap of each coin. So, for example, because Bitcoin has the largest market cap, it would be weighted the most within the index fund. Ethereum would be weighted the second most. Thus, the performance of the fund would be largely determined by Bitcoin, because it has the largest market cap. Litecoin would have the smallest impact on the index fund because it has the smallest market cap. 

 

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