8 ms·

Per their twitter, "Coinbase employees have been prohibited from trading in Bitcoin Cash for several weeks." https://twitter.com/coinbase/status/94329039141917

by f2n 9y ago

Per their twitter, "Coinbase employees have been prohibited from trading in Bitcoin Cash for several weeks." https://twitter.com/coinbase/status/943290391419174912 https://twitter.com/coinbase/status/943290391419174912

verroq 9y ago
That totally stopped everyone I am sure.
sergiotapia 9y ago
Pinky promise!
paulie_a 9y ago
And there was no abuse for financial gain and everyone lived happily ever after
- ringaroundthetx 9y ago
  bahahaha please write my children's bedtime stories
  - paulie_a 9y ago
    First book: "The cat in the hat loses his hat" a story of crypto currency
    - adjkant 9y ago
      That has to be the second one actually. "The cat in the hat puts his hat on the blockchain"
dheera 9y ago
So have your SO/friend/etc. buy a bunch of it and slip you a gift card as a Christmas present? There's no law banning insider trading; Coinbase cannot really enforce anything beyond their own contractually-bound employees. I actually find it interesting/relieving to have a market where insider trading is legal. If you got your hands on inside information, more power to you! In the stock market, insider trading being illegal effectively only helps institutions who are already rich, have access to high-frequency trading, effectively do insider trading anyway and get away with it, and puts the average Joes sitting at home with an eTrade account at a distinct disadvantage. There are things that cryptocurrencies could do to avoid insider trading becoming abused. For example, ensure that larger trades take a long time. Trades of 1000 BTC should require days to execute, while trades of 0.1 BTC should execute in milliseconds. That would help de-throne the hedge funds of the world who have access to more information than average Joe can process, and empower average Joes to leverage everything they know, without messing up the market dynamics for small quantities.
- cma 9y ago
  Many people predicted the opposite of this would happen though. That when coinbase users got their BCH freed up they would dump it on the market and tank it, and part of the announcement includes freeing up users' BCH.
  - lawlessone 9y ago
    There's probably a pump going on by Ver etc.
  - makomk 9y ago
    People originally assumed that Coinbase were only going to allow people to withdraw their BCH and not open up trading, because that's what Coinbase had said they were going to do right up until the point when they suddenly did open up trading on BCH.
- fearface 9y ago
  Then people would just do 10'000 0.1 BTC trades....
- garmaine 9y ago
  > There's no law banning insider trading This is incorrect.
  - NKCSS 9y ago
    He means it isn't insider trading if it's an unregistered asset I assume.
  - altern8tif 9y ago
    I think he's referring to cryptocurrencies as opposed to listed securities.
    - garmaine 9y ago
      Which would be incorrect. Bitcoin spot markets are protected from insider trading from the CFTC if no one else due to the influence the spot price has on derivatives markets. Moving the price 30% in one day would absolutely fall under their jurisdiction, and there are laws on the books since 2010 making such insider profits illegal.

by f2n 9y ago

verroq 9y ago

That totally stopped everyone I am sure.

sergiotapia 9y ago

Pinky promise!

paulie_a 9y ago

And there was no abuse for financial gain and everyone lived happily ever after

ringaroundthetx 9y ago
bahahaha please write my children's bedtime stories
- paulie_a 9y ago
  First book: "The cat in the hat loses his hat" a story of crypto currency
  - adjkant 9y ago
    That has to be the second one actually. "The cat in the hat puts his hat on the blockchain"

dheera 9y ago

So have your SO/friend/etc. buy a bunch of it and slip you a gift card as a Christmas present? There's no law banning insider trading; Coinbase cannot really enforce anything beyond their own contractually-bound employees. I actually find it interesting/relieving to have a market where insider trading is legal. If you got your hands on inside information, more power to you! In the stock market, insider trading being illegal effectively only helps institutions who are already rich, have access to high-frequency trading, effectively do insider trading anyway and get away with it, and puts the average Joes sitting at home with an eTrade account at a distinct disadvantage. There are things that cryptocurrencies could do to avoid insider trading becoming abused. For example, ensure that larger trades take a long time. Trades of 1000 BTC should require days to execute, while trades of 0.1 BTC should execute in milliseconds. That would help de-throne the hedge funds of the world who have access to more information than average Joe can process, and empower average Joes to leverage everything they know, without messing up the market dynamics for small quantities.

cma 9y ago
Many people predicted the opposite of this would happen though. That when coinbase users got their BCH freed up they would dump it on the market and tank it, and part of the announcement includes freeing up users' BCH.
- lawlessone 9y ago
  There's probably a pump going on by Ver etc.
- makomk 9y ago
  People originally assumed that Coinbase were only going to allow people to withdraw their BCH and not open up trading, because that's what Coinbase had said they were going to do right up until the point when they suddenly did open up trading on BCH.
fearface 9y ago
Then people would just do 10'000 0.1 BTC trades....
garmaine 9y ago
> There's no law banning insider trading This is incorrect.
- NKCSS 9y ago
  He means it isn't insider trading if it's an unregistered asset I assume.
- altern8tif 9y ago
  I think he's referring to cryptocurrencies as opposed to listed securities.
  - garmaine 9y ago
    Which would be incorrect. Bitcoin spot markets are protected from insider trading from the CFTC if no one else due to the influence the spot price has on derivatives markets. Moving the price 30% in one day would absolutely fall under their jurisdiction, and there are laws on the books since 2010 making such insider profits illegal.