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Coinbase Ditches Its Index Fund

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1 minute ago, Xrpforme said:

I thought the whole concept of an index fund was idiotic at the time. The crypto market is immature.  Everything is based on speculation and follows Bitcoin. The idea of an index fund is usually to hold a basket of diverse securities. Nothing diverse about holding 5 or 6 non utilized tokens all headed for 70-90% losses.  You could just buy Bitcoin and call it a day. 

Yup, the 5-6 tokens is such a joke. With so many banks setting up their own exchanges, and Nasdaq getting into the mix, current customers will (should), have pretty direct access to investing. Extremely smart move as “ease of use”, in an already fairly complicated market (ie. the average new person being fairly clueless as how to get started), is key to greater adoption. Coinbase had the market on lock for awhile, they dug their own grave.

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I agree with just about everything said here with respect to their missed opportunities but I guess I’m in the minority when saying I hope this new pivot results in success for them.  Having them add XRP won’t cause us to be successful it will just be one more conduit for a systemic increase in volume- mostly from the US.  I’d be shocked if they ended up with a competitive share of the market in Asia.

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Guest

Don’t worry adding ZRX will help them recover ?

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2 hours ago, Qasim_786 said:

I think when they were the only big boy in town they tried to set the ecosystem up around their own interests but now that they are just another fish in the pond they are realising they have got to shed a lot of weight to keep up to pace.

A couple of weeks they tweeted how they would drop the framework they had for listing coins in a bid to list more coins quicker. It reeks of desperation. As an xrp hodler I wish them nothing but the bottom of the barrel. Karma.

I think you are pretty dead on here. I will only add that when they realize they are in over their head (and not before) they will be acquired. Then all the bitcoin maximalist philosophical bs stuff will be shed, and the new operator's focus will be on scaling and competitive positioning against ICE/Bakkt, and other major players.

The reason I say "and not before" is because I dont think the acquiring company wants to buy till the target (coinbase) is on their heels, from a negotiation stand point. The crypto exchange businesses all over the world are going through a phase change process, and I think a smart acquirer would do well to wait a little bit longer, until we can see more clearly how things are shaping up.

The key reason to acquire a company is because you think you can deploy the company (as a set of resources) down a better, more profitable path. Other than just saying "instructional investors" we dont honestly know what this next phase in the business of being a crypto exchange is going to look like.

If one was interested in running one of these businesses, they should have got active a few years ago like ICE & CBOE did a few years age.

Edited by KarmaCoverage

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15 minutes ago, keybordem said:

Coinbase is an excellent case study in a company with a good product ignoring what their customers want because the founders assume that they know best what the customer needs. 

They could have found a profitable way for XRP and all the others to be on their platform as evidence by just about every single other competitor doing just that over the last year. 

Should have served their customers and not their egos. 

Guess why they are ignoring their customer needs.

DCG is invested in Coinbase. DCG is also invested in Coindesk (FUDesk) and Grayscale.

dcg.thumb.png.4a8d1969d0b95eb41d889d289811e6da.png

https://dcg.co/portfolio/

Grayscale is crypto fund and guess what coins they are holding most:

https://twitter.com/GrayscaleInvest/status/1050850777579868160

DpVfNPFWsAEmuzE.jpg

You can see now why Coinbase haven't added XRP. If they add XRP, their precious coins (BTC and ETH) will be in danger.

Edited by Guest

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O I totally think it's a mix of personal beliefs that have led to them being backed into a corner now to protect their investments. 

For greed or ideals they put themselves in a situation now that they cannot get out of without taking a beating on their balance sheets. 

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5 hours ago, Kpuff said:

Very true if retail investors trusted in companies that have no real backing like coinbase we would be in the hype phase. Coinbase only offers custody to major institutions that put a minimum of 10 million dollars in; and the custody service that they have hired has a bad history of using clients money for themselves.

Now if I was a retail investor and I saw a reputable broker dealer such as the NYSE, NASDAQ, Ameritrade, Fidelity and so on offer crypto. People would say wow the broker that I've been working with for decades is finally offering crypto. I think it's finally safe to put my money in. That's the hype phase of crypto and the run up from last year will be intesified. 

As well as the financial advisors can finally push their clients to buy it. It's going to be amazing. Good times ahead

I disagree once shorting became easy there went historic bull runs. 

Now money can be made too many ways while 12 months ago is was 90% buy and hold.

It will take insane usage to see previous highs.

Edited by pumpndump

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5 hours ago, Kpuff said:

Very true if retail investors trusted in companies that have no real backing like coinbase we would be in the hype phase. Coinbase only offers custody to major institutions that put a minimum of 10 million dollars in; and the custody service that they have hired has a bad history of using clients money for themselves.

Now if I was a retail investor and I saw a reputable broker dealer such as the NYSE, NASDAQ, Ameritrade, Fidelity and so on offer crypto. People would say wow the broker that I've been working with for decades is finally offering crypto. I think it's finally safe to put my money in. That's the hype phase of crypto and the run up from last year will be intesified. 

As well as the financial advisors can finally push their clients to buy it. It's going to be amazing. Good times ahead

Which custody service is being used by Coinbase..? That has bad history??

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5 hours ago, TheXRPer said:

This should have been posted in the off topic section, as it has zero to do with Ripple or XRP.

Well if has to do with coinbase, and lot of people who has zerps like to get updates on coinbase as its relevant to price of xrp, so it was put in General, off topic means something that has completely nothing to do with xrp. 

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5 hours ago, AlibabaGrp said:

Once wallstreet crypto custody solutions and exchanges are opened, Brian Baldstrong will lose all his hair due to stress of not making profits

He doesnt have a lot of hair on his head to lose. ?

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29 minutes ago, RDS said:

Well if has to do with coinbase, and lot of people who has zerps like to get updates on coinbase as its relevant to price of xrp, so it was put in General, off topic means something that has completely nothing to do with xrp. 

Did you read the title of this tread?

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