Jump to content

It may be in Coinbase's best interest to not list XRP. Hers why:


Recommended Posts

First off, I want to apologize for mentioning the hated coinbase. Now, I'll make my point.

 

It may be in Coinbase's best interest to not list XRP, or to at least drag their feet on it. In fact, it may pay for them to drag their feet enlisting any "top" coin.

Very time someone wants to buy a coin they need to purchase BTC (1 point of profit) and then they need to transfer it out (2nd point of profit). Then, they need to bring it back to coinbase to cash out (3rd point of profit). If XRP is not listed on CB, then CB takes 3 points of profit. If XRP is listed on coinbase, then there are only 2 points of profit.

Could this be a factor in them dragging their feet?

What do you think?

Link to post
Share on other sites
3 minutes ago, Ctrl-Z said:

First off, I want to apologize for mentioning the hated coinbase. Now, I'll make my point.

 

It may be in Coinbase's best interest to not list XRP, or to at least drag their feet on it. In fact, it may pay for them to drag their feet enlisting any "top" coin.

Very time someone wants to buy a coin they need to purchase BTC (1 point of profit) and then they need to transfer it out (2nd point of profit). Then, they need to bring it back to coinbase to cash out (3rd point of profit). If XRP is not listed on CB, then CB takes 3 points of profit. If XRP is listed on coinbase, then there are only 2 points of profit.

Could this be a factor in them dragging their feet?

What do you think?

You are spot on however, if XRP is listed people would begin using XRP for the transfers to Buy Bitcoin. Indirectly replacing and undermining their cash cow's sole use case.

Link to post
Share on other sites
6 minutes ago, cannylad said:

Think it's been said many times, stopped using CB myself now that more options are slowly creeping in to get more

Yes, been said here before, but for those in the UK LBX (London Block Exchange) is great - I can even make normal free bank transfers, even wanting to move GBP to Uphold my bank wanted  £10 and I had to go via some process via a Portuguese Bank.

Link to post
Share on other sites
1 hour ago, Ctrl-Z said:

First off, I want to apologize for mentioning the hated coinbase. Now, I'll make my point.

 

It may be in Coinbase's best interest to not list XRP, or to at least drag their feet on it. In fact, it may pay for them to drag their feet enlisting any "top" coin.

Very time someone wants to buy a coin they need to purchase BTC (1 point of profit) and then they need to transfer it out (2nd point of profit). Then, they need to bring it back to coinbase to cash out (3rd point of profit). If XRP is not listed on CB, then CB takes 3 points of profit. If XRP is listed on coinbase, then there are only 2 points of profit.

Could this be a factor in them dragging their feet?

What do you think?

It might be something they consider but Brad often refers to a holy war occurring or conflicting ideologies especially when asked about coinbase adding XRP. I think that the internal politics at coinbase are the main driver for not listing XRP. May change in the future with a new CEO, especially if investors become disgruntled that the company had not responded to new external threats such as Uphold and Revolut. Time will tell but I do not think this is simply a monetary decision ( which is good because their board might see their politics as costing them mula and may be more willing to shake up top positions). I just think Brad has more insight on this than any of us. 

Link to post
Share on other sites

I too have totally bypassed CB at this point, they were late to the starting gate with XRP (actually they haven't even arrived) so they most likely lost all of the XRP buyers who would have otherwise gone through CB, now that most exchanges have caught up with user registration backlog.

Link to post
Share on other sites
1 hour ago, JaseEffect said:

I too have totally bypassed CB at this point, they were late to the starting gate with XRP (actually they haven't even arrived) so they most likely lost all of the XRP buyers who would have otherwise gone through CB, now that most exchanges have caught up with user registration backlog.

agree they might missed the boat and it is too late (or not worth) catching up for them

Link to post
Share on other sites

I haven't used CB since my Uphold account went live. Too many hoops to jump through to get XRP via CB. Uphold's a breeze compared to CB process of buying LTC, transferring to private wallet, running that through Shapeshift with a LTC to XRP payout, and recording the transfer for tax purposes.

CB opening a Japan offering with their paltry fiat/crypto pairs list is looking forward to an epic fail.

Link to post
Share on other sites

Coinbase is schizophrenic. They don’t know if they want to be an exchange, a custodian, a bank, an investment firm, a church for Bitcoin, etc. etc. They’re going in too many directions at once. I don’t want Coinbase to fail but I despise their CEO. And it’s for two very good reasons:

1) It’s clear he doesn’t like Ripple. At all.

2) He has the most annoying, punchable face I’ve seen in a while. It’s bad.

For the record, I looked at CB Japan’s new guy, Nao Kitazawa, and his background (Fintech Association of Japan board member, Morgan Stanley, finance lawyer, and COO of a startup that offers automated investment advice). I just have a feeling they’re going to list XRP there soon.

Link to post
Share on other sites
2 hours ago, Deeznutz said:

Coinbase is schizophrenic. They don’t know if they want to be an exchange, a custodian, a bank, an investment firm, a church for Bitcoin, etc. etc. They’re going in too many directions at once. I don’t want Coinbase to fail but I despise their CEO. And it’s for two very good reasons:

1) It’s clear he doesn’t like Ripple. At all.

2) He has the most annoying, punchable face I’ve seen in a while. It’s bad.

For the record, I looked at CB Japan’s new guy, Nao Kitazawa, and his background (Fintech Association of Japan board member, Morgan Stanley, finance lawyer, and COO of a startup that offers automated investment advice). I just have a feeling they’re going to list XRP there soon.

AKA Coinbase is spreading their peanut butter too thin over their bread..... Maybe they should make Brad CEO, he seems to know a thing or two about pinpoint focus on a single use case 

Link to post
Share on other sites

My opinion; let me vent.

I keep reading these coinbase threads and still do not understand why it's being talked about with XRP. Yes it would be good to be listed on another exchange but everyone in this forum does not use coinbase to buy xrp. No one I know gives a crap about coinbase and I have personal friends who have made a living on trading cryptos. I'm in Texas, USA. Everyone who has bought and will buy use bitstamp, binance, and other exchanges. It hasn't stopped anyone from buying if they really want to. 

No one I've ever spoken with has said "If only coinbase traded XRP I would buy". Will it make it easier to buy? Perhaps but no one who knows cryptos thinks coinbase is the only way to buy in the US. All the "smart" money has entered already. The "dumb" money wont hear about coinbase until it's too late to make a profit and the "FI's" don't give two craps about coinbase.

My opinion is that coinbase keeps getting brought up in the media as the end all be all in the cryptosphere, which it is not. They are FUDing and everyone who brings it up spreads the FUD. 

Edited by GAC1848
Grammar
Link to post
Share on other sites

1.6% on Uphold is worth the following BS. 

transfer usd, and then buy btc, and then transfer btc, and then sell btc, and then buy xrp, and then transfer xrp. 

Uphold, no and then ?

Edited by Guest
Link to post
Share on other sites
8 hours ago, GAC1848 said:

My opinion; let me vent.

I keep reading these coinbase threads and still do not understand why it's being talked about with XRP. Yes it would be good to be listed on another exchange but everyone in this forum does not use coinbase to buy xrp. No one I know gives a crap about coinbase and I have personal friends who have made a living on trading cryptos. I'm in Texas, USA. Everyone who has bought and will buy use bitstamp, binance, and other exchanges. It hasn't stopped anyone from buying if they really want to. 

No one I've ever spoken with has said "If only coinbase traded XRP I would buy". Will it make it easier to buy? Perhaps but no one who knows cryptos thinks coinbase is the only way to buy in the US. All the "smart" money has entered already. The "dumb" money wont hear about coinbase until it's too late to make a profit and the "FI's" don't give two craps about coinbase.

My opinion is that coinbase keeps getting brought up in the media as the end all be all in the cryptosphere, which it is not. They are FUDing and everyone who brings it up spreads the FUD. 

I agree. If I never see a  thread with the words “Coinbase” or “security” in the title again, I will be elated.

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.