Coinbase to give it a go?
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Biases aside
We have to be able to admit they've done a ton of things right. What other company out there in the cryptospace has an app with as many downloads, as many reviews, as many partnerships? I think the answer is pretty much unanimous across all boards there.
That being said, there are other alternatives popping up, and it's understandable that they would push as hard as they have in order to keep that competitive advantage. In other words, if they didn't innovate as much as they do, they would probably be left in the dust before long.
ETF = Winning?
When I first read that some cryptocurrency voices were completely against ETFs I was very much surprised. The most prominent one, at least for me, is Andreas Antonopoulos, also known by the crypto community as the real Bitcoin Jesus, a title that Roger Ver used to have.
In one of this popular Q&A videos on youtube he pointed out his concerns, and honestly, his arguments as usual, are pretty sound. I would encourage everyone who is keeping hawk eyes on the cryptosphere's waves to check out the video:
However...
There is a flip side to this coin, there are things that cannot be denied regarding the bulls, and when I use the term bulls, I'm using it to paint all enthusiastic speculators. To most, nothing sounds as exciting as Wall Street money. In other words, the FOMO would be real, very real.
Another thing to point out is that ETFs require holding Bitcoin themselves in cold storage. This would mean, that if Coinbase was to get their ETF approved, they would in turn lock up considerable funds to issue shares for markets. Once again, less liquid funds to go, increase in demand, the math is pretty clear.
All this to say that in my opinion, if there is a company in the cryptocurrency space that can pull this off, is probably Coinbase, regardless of how much we love it, or hate it, they keep on winning. That much is apparent.
• Can you guess who is still around?
• What about the fun?
• Songwriter Shop Talk Choonicide Episode
• All those dead accounts...
• Couching the Caveats
It’s a real balance between getting broader adoption of Crypto and letting Banksters control Crypto markets. However at the end of the day, it is real user adoption rather than the ups and downs of markets that will make Crypto win. Steem is leading in this department.
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i agree as much as we get upset about the current valuation, we still have the biggest userbase.
It’s quite clear that Crypto market behavior at present is not based on actual understanding of each coin beyond the top 2 or 3. This maturity will come with time. Bitcoin is resilient because it has real world use and a long track record. ETH is not living up to expectations and has been punished. The rest of the altcoins including Steem are being punished because of ETH, despite many being completely different and better.
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Well said! I have been stocking up on STEEM before the cats out of the bag! :P
Coinbase clearly has the best blockchain lawyers in the US. So if anyone can do it I expect they can.
oh yes... i agree
All the arguments for and against are pointless as if a company sees a chance to make money they are going to do it.
It's great to have a romantic view of cyrpto being this anarchic underground thing that should not be available to governments and corporations but the real world is made up of shareholders who don't give a monkeys about morals.
Well said Atom... It's ok to be idealistic about it, but in the end there is a reason why things are the way they are
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Hi meno. I have no idea on this one, I understand what Wall Street money can do but ETF regulations could do the opposite of why crypto was introduced. I am sitting on the fence on this one as I honestly don't know.
i got no control over what will happen, but im hoping for the best... that is all. - to me that is regulation (i know, i might anger some people) but its the only way i see real money coming in.
All for it here, I have been a Coinbase fan for a while because as a true crypto enthusiast, something like this was inevitable. Curious if the vault they have will be used to help implement the cold storage.
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I saw an article on their cold storage, did not read it, I wont lie... but the timing seems pretty convenient.. this was a week before the announcement more or less.
"if there is a company in the cryptocurrency space that can pull this off, is probably Coinbase"
I agree. Coinbase is probably ideal. They are half crypto enthusiast/half bankster, the perfect hybrid.
I very much want ETFs to get the go-ahead, and Coinbase might manage it. Like you say, it will lock up a bunch of coins, and raise their value by restricting supply, but more importantly, it will get investment publications writing analyses of all the coins, and that will be to Steem's huge benefit, because it is the only one being used, every day, by ordinary people. :)
If Coinbase gets the ETF approval, they should be referred to as the real “Bitcoin Jesus”
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Great post, but I can see you aren't getting as many votes as you deserve. Have you looked into SteemEngine?
oh no, i have not... maybe i should
:)
I’m pretty happy with COinbase so far...
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