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Why is it they always seem to go down during times of sudden surges and dips? It almost feels like they’re trying to control the market of their platform rather
by smaili 9y ago
Why is it they always seem to go down during times of sudden surges and dips? It almost feels like they’re trying to control the market of their platform rather than let it play out. It may indeed just be infrastructure but given the company’s age and decent amount of funding they have now, can scaling really be at play here?
- gnicholas 9y agoI have wondered this also. Coinbase clearly benefits from BTC and other cryptocurrency being "a thing", and rising prices help that happen. If the price of BTC that market watchers and news orgs quote is impacted heavily by the price on Coinbase, then their actions could have an outsize impact on the overall trend. I would be curious to hear from folks savvier than me about suspicions like this. EDIT: wondering why this is downvoted — I make a conjecture and then openly ask for perspectives of those who are more educated on these matters. If you disagree, responding would be helpful. We downvote things not because we disagree but because we think it doesn't add to the discourse.
- mattbeckman 9y agoYes. Consider that the ramp up in Bitcoin has been happening since June. I recall they were adding 50,000 accounts per day. Suddenly, all the new folks that haven't experienced a bloodbath before are all trying to jump on and sell. I'm not surprised at all, really.
- not_kurt_godel 9y ago> It almost feels like they’re trying to control the market of their platform rather than let it play out. No, no, no, you see - that's the free market at work. Can't you see that everyone will simply pick another exchange and scammy practices like this will be evolutionarily eliminated? /s