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Why is everyone discounting the possibility that this is a Coinbase controlled account? They would surely need to purchase the tokens before they list them.

by axg11 5y ago

giarc 5y ago
$26-80k in coins doesn't seem like much?
- axg11 5y ago
  Could be sufficient for (limited) market making. There are dozens of explanations for why Coinbase would want to hold these coins. They're not just an exchange anymore, they offer many other services.
hmate9 5y ago
No they don’t. You trade with other users not coinbase directly
- aqme28 5y ago
  Coinbase almost definitely acts as a market maker as well. I would be very surprised if they didn’t at least seed the order book a little before listing new pairs.
  - Tenoke 5y ago
    Further, Coinbase often lists some new assets on Coinbase earn where it gives them for free to users.
  - scld 5y ago
    The definitely do act as a market maker. This is probably just them getting some liquidity before listing. With Mina they literally announced such a thing. https://twitter.com/CoinbaseAssets/status/1506717122499596297 https://twitter.com/CoinbaseAssets/status/150671712249959629...
- dahfizz 5y ago
  Do you have evidence that Coinbase doesn't provide liquidity for it's tokens? It's a pretty safe assumption.
- ricardolopes 5y ago
  That's not how coinbase operates. You have a "Buy <Coin>" button, and you expect to get that coin without fail, every time. If a new token launches, you should be able to buy it without waiting for users to deposit and sell. Maybe you're confusing with coinbase pro, which uses the more traditional order book model, or with other exchanges?
  - wc- 5y ago
    Coinbase adds new assets to the pro option first, establishes a market, and then adds to the retail Coinbase "buy button" app. When a user hits the retail Buy Coin button, the internal market maker fills the order against the coinbase pro's order books.
- vmception 5y ago
  crypto exchanges are all over the place regarding this its not pretty
msoad 5y ago
It's more like someone inside Coinbase owning this wallet.

Why is everyone discounting the possibility that this is a Coinbase controlled account? They would surely need to purchase the tokens before they list them.

by axg11 5y ago

Why is everyone discounting the possibility that this is a Coinbase controlled account? They would surely need to purchase the tokens before they list them.

giarc 5y ago

$26-80k in coins doesn't seem like much?

axg11 5y ago
Could be sufficient for (limited) market making. There are dozens of explanations for why Coinbase would want to hold these coins. They're not just an exchange anymore, they offer many other services.

hmate9 5y ago

No they don’t. You trade with other users not coinbase directly

aqme28 5y ago
Coinbase almost definitely acts as a market maker as well. I would be very surprised if they didn’t at least seed the order book a little before listing new pairs.
- Tenoke 5y ago
  Further, Coinbase often lists some new assets on Coinbase earn where it gives them for free to users.
- scld 5y ago
  The definitely do act as a market maker. This is probably just them getting some liquidity before listing. With Mina they literally announced such a thing. https://twitter.com/CoinbaseAssets/status/1506717122499596297 https://twitter.com/CoinbaseAssets/status/150671712249959629...
dahfizz 5y ago
Do you have evidence that Coinbase doesn't provide liquidity for it's tokens? It's a pretty safe assumption.
ricardolopes 5y ago
That's not how coinbase operates. You have a "Buy <Coin>" button, and you expect to get that coin without fail, every time. If a new token launches, you should be able to buy it without waiting for users to deposit and sell. Maybe you're confusing with coinbase pro, which uses the more traditional order book model, or with other exchanges?
- wc- 5y ago
  Coinbase adds new assets to the pro option first, establishes a market, and then adds to the retail Coinbase "buy button" app. When a user hits the retail Buy Coin button, the internal market maker fills the order against the coinbase pro's order books.
vmception 5y ago
crypto exchanges are all over the place regarding this its not pretty

msoad 5y ago

It's more like someone inside Coinbase owning this wallet.