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Coinbase Says It's Exploring Adding 5 New Coins To Its Platform (bitcoinist.com)
Coinbase, the largest U.S.-based digital currency exchange, announced that it is "exploring the addition" of five new cryptocurrencies to its platform. The five cryptocurrencies being considered are Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX). Bitcoinist reports: Coinbase's announcement claims to arrive for both employees and the public at the same time. Notes Coinbase: "We are making this announcement internally at Coinbase and to the public at the same time to remain transparent with our customers about support for future assets." Despite the apparent attempt at remaining transparent, the statement of intent has led many to question why the exchange giant is even making an announcement of its "exploration" at all -- especially following a cut-and-dry announcement of future support for Ethereum Classic.
The company pre-emptively responded to such questions by explaining: "Unlike the ongoing process of adding Ethereum Classic, which is technically very similar to Ethereum, these assets will require additional exploratory work and we cannot guarantee they will be listed for trading. Furthermore, our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet. We may also only enable certain ways to interact with these assets through our site, such as supporting only deposits and withdrawals from transparent Zcash addresses. Finally, some of these assets may be offered in other jurisdictions prior to being listed in the U.S." Coinbase also said to expect future announcements of exploration: "Going forward, you should expect that we will make similar announcements about exploring the addition of multiple assets. Some of these assets may become available everywhere, while others may only be supported in specific jurisdictions."
The company pre-emptively responded to such questions by explaining: "Unlike the ongoing process of adding Ethereum Classic, which is technically very similar to Ethereum, these assets will require additional exploratory work and we cannot guarantee they will be listed for trading. Furthermore, our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet. We may also only enable certain ways to interact with these assets through our site, such as supporting only deposits and withdrawals from transparent Zcash addresses. Finally, some of these assets may be offered in other jurisdictions prior to being listed in the U.S." Coinbase also said to expect future announcements of exploration: "Going forward, you should expect that we will make similar announcements about exploring the addition of multiple assets. Some of these assets may become available everywhere, while others may only be supported in specific jurisdictions."
The money changers never lose, a commission is a commission.
The only question for them is, "Will the commissions add up to the effort needed to support all those other coin types"?
ie. Are there enough idiots to go around?
Apparently: The answer is yes.
No sig today...
enjoy the french toast, m'ladies
(tips fedora seductively)
They can always announce some new Elvis limited edition collectible plates and find somebody to buy them for the low low price of $39.95 plus shipping and handling. If you get in early you can get double your order for the same price too! Just pay the additional shipping and handling..
Let us know if/when that works out for you.
No sig today...
Exchanges are evil.
Interesting no actual coin with hard privacy (e.g. XMR) is listed. Zcash is tainted by Ver's exposure IMO.
..don't panic
If tulips can moon then so can these flowers. We're all going to be rich!
Cryptographic Ultra Money
What does this have to do with Digital Equipment Corporation?
in a money laundering sting op. This one comes to mind since the woman was fine until the undercover cop mentioned he was moving drugs with the money. There's several more.
I'm not saying coinbase will fall afoul immediately, but the price of bitcoin's dropped 70% in a few months (down from high of 20k to around 6k). I'm sure their cut's way down. Even if they don't take a percentage they're gonna be out money on volume as people scared off by that much volatility exit the market. It's going to get tempting to take on more dangerous trades...
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I tried to open an account with Coinbase. I went through the bank verification requirement and was accepted. Right after my account being accepted, I received a notice that Coinbase was rejecting and closing my account. No explanation given. I had the same experience when I first opened a PayPal account. A couple of years later, PayPal allowed the account. I have no idea what is happening to trigger these rejections. Credit clean. Credit cards zero. I have an unusual last name, maybe that is why some idiot is rejecting the account.
We are living un the age of the abstract economy, making wealth from thin air.
FTFA ---
"these assets"
Bit coins are NOT assets... don't even pretend they are.
But that said- crypto currencies are little more or less than a useful tool. It's like criticizing the US dollar. Do you invest in currency? Some people do. Are you criticizing it? Most of the critics of crypto aren't. Hypocrites.
The bigger problem is too many people are investing in crypto currencies prior to actual widespread adoption rather than actually using crypto currencies. I wouldn't invest in crypto currencies, but I woldn't call crypto currencies a bad investment. Despite the value of Bitcoin dropping greatly this past year it's still way up over just about anything else you might have invested in. I have and have held crypto currencies over the past several years. I just don't "invest" in. Rather I take advantage of crypto currencies other properties like low transaction costs relative to other payment options. It has reduced costs by as much as 12% on payment fees alone, but you can add another 30% or so to that if you take advantage of the liquidity in the market. Crypto has never fallen fast enough that I've ever lost money. I can credit it to my success in business where near all of my competitors are going under.
There are regions of the world where people are using crypto currencies. New Hampshire and Venezuela in particular. Keene and Portsmith have seen a significant rise over the past couple years in businesses accepting crypto currencies and people spending it. While it's not accepted everywhere it doesn't have to be. It took credit card companies 40 years to get widespread adoption and even now there are still some businesses that are cash only. The reality is crypto currencies are useful now- but they're getting more and more useful as more businesses come on board. I pay my car insurance in Bitcoin, hosting, domain names, multiple times a day I find myself spending crypto, there are dozens of places to get lunch in my town with crypto. From car repairs to dental care.
It's 2018 and we still have stories about Crypto and Facebook on Slashdot? Move on, nothing to see here...
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