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MatinMontreal

Devil’s Advocate Re: Coinbase

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I know this new blog post will likely start a new round of speculation. My question is the converse of most of the recent debate: is there any legitimate reason why Coinbase wouldn’t add XRP?  

I can’t think of one  

This decentralization stuff is a red herring in my mind. They are a business and they will make a lot of money with XRP. 

I also go back to Brad’s comment in Bangkok where he said announcements are only made when BOTH parties are ready.   And then the CB COO joking on CNBC about taking a pic with Brad to stir up Internet rumors.  

Obviously Ripple wants the liquidity.  And CB wants the millions of dollars in fees. I have no doubt they’ve had conversations  

Thoughts?  Why WOULDN’T they list XRP soon?

https://blog.coinbase.com/our-process-for-adding-new-assets-to-coinbase-gdax-march-2018-update-c204d76de55d

Edited by MatinMontreal

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https://www.gdax.com/static/digital-asset-framework-2017-11.pdf

"The network is public, decentralized, and enables trustless consensus." We all know XRP is decentralised but 90% of people in crypto space have different option and it will be hard to convince them otherwise.

plus "4.0 Market Supply" might be another problem 

Edited by DariStar

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So far xrp isn’t fully decentralized. As soon as xrp is in phase 2 of its decentralization Strategie- we would . Please see the official statement :https://ripple.com/dev-blog/decentralization-strategy-update/ 

 

( it wouldn’t be called decentralization strategy if we would be fully decentralized - but yes I know even brad said : if Ripple would ceased to exist bc of a meteor or something xrp would be still fully working ) 

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36 minutes ago, MatinMontreal said:

I know this new blog post will likely start a new round of speculation. My question is the converse of most of the recent debate: is there any legitimate reason why Coinbase wouldn’t add XRP?  

I can’t think of one  

This decentralization stuff is a red herring in my mind. They are a business and they will make a lot of money with XRP. 

I also go back to Brad’s comment in Bangkok where he said announcements are only made when BOTH parties are ready.   And then the CB COO joking on CNBC about taking a pic with Brad to stir up Internet rumors.  

Obviously Ripple wants the liquidity.  And CB wants the millions of dollars in fees. I have no doubt they’ve had conversations  

Thoughts?  Why WOULDN’T they list XRP soon?

https://blog.coinbase.com/our-process-for-adding-new-assets-to-coinbase-gdax-march-2018-update-c204d76de55d

Coinbase they are scared of XRP . They don't want anything to go ahead of Bitcoin in capitalization because then their Bitcoin pairings would look ridiculous and even more fraudulent than now. And those pairings is how they make their profits , never mind those small transaction fees.

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9 minutes ago, 2ndtimearound said:

I have a theory that the next crypto bull-run is already planned and co-ordinated by the big players, and Coinbase's launch of new cryptos will work in tandem with other news to launch the bull-run.  They have their big conference in May and it could be then that it all kicks off.

Right on. The market is 100% manipulated and there's absolutely nothing illegal about it because there's no regulation. It's the wild wild west all over again. I wouldn't be surprised if Al Capone turns over in it's grave hehehe.

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Let me put my tinfoil hat on for this..... think there are vested intersted high up that made a lot of money on btc, as pointed out pairing on exchanges etc. read an article once can’t remeber where, but a lot of speculation that bitcoin could not rebound if ever overtaken due to lack of case use. What I really like in brads interview was two things...something along the lines...paraphrasing here, “ I’m not here to solve speculator problems” and “coinbase is gonna have to decide what coinbase wants to do”. As much as we all like new investors...the real Apple is in adoption and usage... personally could careless about CB.  Sooner or later the rubber meets the road, not sure bitcoin is up to the challenge....TBD...also find it funny not much news on centralization of mining, and what I believe is further centralization with the lightning network.  In reality I don’t care about centralization at all...but it the pot calling the kettle black..and I’m here to speculate on how tech inproves life, with or without consumer knowledge.

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And you also have the Winklevoss at Gemini doing the same manipulation.

This last drop in the market was just the perfect pump and dump . They pumped it back up to 12k and then on Google's announcement of no more ads for ico's (actually one full day after the announcement, what a joke ! ) they dumped everything and pocketed the profits. What does Bitcoin have to do with ico's 

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Coinbase is a middleman between crypto assets and fiat assets, and makes money because connectivity between these two assets is poor. Just like in the old days of the Internet, when connectivity was poor, and only few small companies were providing the service, in a legal limbo.

Ripple (particulary ILP) solves the connectivity between assets, solves the legal limbo, and enables cutting out Coinbase as middleman.  This is probably the reason Coinbase is reluctant to include XRP, because that will improve connectivity from fiat to crypto, which undermines their revenue model, which is based on high friction between these two types of assets.

Coinbase knows people's money is at the banks. Ripple enables banks to take over the role of exchanges. People are already verified with their banks.

If digital assets are indeed the future (which I think they are), then banks will be providing the service to their clients to hold them, and transact in them. Ripple provides them the required technology to roll that out pronto.

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1 hour ago, Blockchained said:

Coinbase they are scared of XRP . They don't want anything to go ahead of Bitcoin in capitalization because then their Bitcoin pairings would look ridiculous and even more fraudulent than now. And those pairings is how they make their profits , never mind those small transaction fees.

thats the same thing i thought

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IMO Coinbase was going to add XRP earlier this year then two events delayed it:

1) The massive spike in demand for new accounts caused masssive internal disruption and delays. Their systems and resources couldn’t handle it; and

2) The Bitcoin Cash debacle caused them a lot of PR problems. If you recall, there was a lot of rumours about them adding XRP at the time.

They couldn’t go ahead.

Since early January Coinbase are in the proces of hiring 500 more staff and have improved their systems. They have also just released a protocol for adding new coins.

XRP will be added soon. 

Edited by Chewiecoin

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