Coinbase, the honey badger of crypto - OTC Markets added

in #cryptocurrency5 years ago
I guess I'm not super surprised coinbase keeps on surprising and of course that makes absolutely no sense, but I know you understood me just fine. No matter how much FUD gets spilled out there, it's as if Coinbase is crypto's honey badger or something.

The bear market has been raining on absolutely everyone's parade, but it seems like Coinbase has structured themselves in a way that thriving even when prices have plunged 85%+ is not an impossible feat.

The other important thing to point out here is that what this move symbolizes, that is the creation of OTC services is that the almost meme like idea that "institutions are coming" is not a joke at all.

You may think that Coinbase deserves to be bunched up with the Paypals of the world, and I would not blame you for thinking this way, but we can't deny they are leading with the torch in front, and all the other off/on ramps are simply playing catch up at this point in time.

What is OTC you ask?

Over the counter buys, and what does that mean? Well, you see when retail investors like us want crypto, we go to exchanges, we upload our picture id (sometimes), connect our Bank accounts and what have you, and get limited with daily or weekly roofs, but Institutions play a whole different ball game.

The kind of money we are talking about dwarfs the biggest of whales we might think about, when we think "crypto rich" in a sense. For this type of purchasing, for this volume, going through an exchange is simply not an option. The consequence of such purchase walls would drive up the prices uncontrollably, arguably causing a lot of problems, and I do mean arguably. (some lucky ones would make money)

I fully expect

Next year to be a positive one for cryptos in general, when some legislative clarity begins to bare it's head, more and more money will start pouring into the space, and the whole craziness will start all over again, as it has so many times already.

In other words my friends... patience is key....

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I really hope that we get some semblance of clarity here in the states. Working with what laws we have right now is ridiculously confusing.

it is a pain in the neck... somewhat scary to be honest

I'm with you.

Funny you mention PayPal... I just got the notification that you can now link PayPal accounts to CoinBase for withdrawals. Seems they’re moving forward on a lot of fronts. I want Steem listed!

oh ya? I think that's a good thing, no? it is for me at least... hhaha

It's notable that it's withdrawal only right now, and not deposit... but it's an encouraging step forward. I'd always thought PayPal was very crypto resistant but that could be changing. There's some great projects making use of PayPal now like Fundition and Steem Monsters and I've been afraid of their accounts there being shuttered if they got wind it was crypto related, but that might not be as much of a fear now.

Paypal is the biggest Ahole..never keep considerable funds in paypal accounts...unless you like to be on non-stop tech support calls.

i'm on the verge of closing my account there... trying to kick bad habits, true

I think the fact that the OTC market participants continue to grow demonstrates the substantial interest from large investors in the asset class and could signal improved price action in the future.

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Very well explained 😍

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The world is crazy and markets simply reflect that craziness?

Thanks for sharing your thougths... a huge hug from amico!

hahahah that could be it too!

let's bring in some big investor cash, by all means (-:

I gave coinbase about $40 lately with them taking 2%+ transactions for my money ... middleman, good biz

Patience reaches everything and in investments much more. You just have to wait patiently that the bad times pass, because they are not forever. And then, when the rainbow comes out, and the storm has passed, it will be time to be happy and smile. Greetings, @meno.

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