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From the casual attention I pay to this, I thought Coinbase was one of the, if not the, largest US exchange at this point. I'm surprised no one has even mention
by janzer 13y ago
From the casual attention I pay to this, I thought Coinbase was one of the, if not the, largest US exchange at this point. I'm surprised no one has even mentioned it here. Am I missing something?
- gnaritas 13y agoCoinbase is not an exchange; they're a broker, when you buy there you're buying from Coinbase, not from someone else's sell order like you would at an exchange. Exchanges match buyers to sellers.
- losvedir 13y agoIs it disclosed where Coinbase gets their bitcoin?
- gnaritas 13y agoFound this... From Brian Armstrong, Coinbase Agent, via the coinbase support site, 11 Nov 2012: "We integrate with a variety of exchanges and also hold our own reserves. When you sell your bitcoins for USD we usually sell them to other Coinbase users at some point down the line (this is where our reserves come from), but we may cash them out if needed. In general, our goal is to abstract away some of the complexity so it's a simpler process for our users. What we have now is a good start but not finished by any means. Hope it helps!"
- npongratz 13y agoThis doesn't prove Coinbase gets their Bitcoin from Bitstamp, but the plot makes a compelling inference worthy of further research: "Coinbase buy price is pegged to Bitstamp" (Dec 2013): https://bitcointalk.org/index.php?topic=392422.0 https://bitcointalk.org/index.php?topic=392422.0