Coinbase to give it a go? by meno

View this thread on steempeak.com
· @meno · (edited)
$12.37
Coinbase to give it a go?
<div class="text-justify">
I know that the opinion on coinbase is pretty much divided in half these days. There are some who absolutely love it because it's easy to use, and others that hate it, because it stands in opposition of the anarchist views the original cryptocurrency enthusiasts share. But, what if they are the ones to finally break down that door? What if they pull it off and get an ETF approved? 

<center>
<img src="https://ipfs.busy.org/ipfs/QmX657qDmCy5xzmr8KNg6QaR1wsxE5EmoqYBQ2L5c1xEwK">
<a href="https://www.coinspeaker.com/2017/07/31/bitcoin-withdrawals-from-coinbase-delayed-by-up-to-12-hours-as-split-to-bitcoin-cash-nears/">img src</a>
</center>
<h1>Biases aside</h1>
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.

<h1>ETF = Winning?</h1>
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 <b>Bitcoin Jesus</b>, 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:
</div>
https://www.youtube.com/watch?v=KSv0J4bfBCc
<div class="text-justify">

<h1>However...</h1>
There is a flip side to this coin, there are things that cannot be denied regarding the bulls, and when I use the term <b>bulls</b>, 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 <b>Coinbase</b> 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 <b>Coinbase</b>, regardless of how much we love it, or hate it, they keep on winning. That much is apparent. 
</div>

https://steemitimages.com/DQmW2fijoxrybX3Kg83HCgZZmZwF8SujXWvr3tn8YCUPCsw/meno%20logo.png

<center>
<a href="/cryptocurrency/@meno/can-you-guess-who-is-still-around"><sub>• Can you guess who is still around?</sub></a><br><a href="/life/@meno/what-about-the-fun"><sub>• What about the fun?</sub></a><br><a href="/mspwaves/@meno/songwriter-shop-talk-choonicide-episode"><sub>• Songwriter Shop Talk Choonicide Episode</sub></a><br><a href="/ulog/@meno/all-those-dead-accounts"><sub>• All those dead accounts... </sub></a><br><a href="/philosophy/@meno/couching-the-caveats"><sub>• Couching the Caveats</sub></a><br>
</center>
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 43 others
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vote details (107)
@schoolhumor ·
Great post, but I can see you aren't getting as many votes as you deserve. Have you looked into SteemEngine?
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@meno ·
oh no, i have not... maybe i should 

:)
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@themarkymark ·
* How many votes does he deserve? 
* How do you come up with that number?
* Do you have any data on how accurate your estimate is?
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@meno ·
I deserve 2 and 2

2 votes and 2 flags... i wanna be balanced.
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@themarkymark ·
Check out Gemini, it takes a while to get in but it is much better than Coinbase.
👍  
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@meno ·
they never approved my account, i have to call them and tell them they are fakenews until they surrender.
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@themarkymark ·
Took 3-4 weeks to get mine.  Haven't used them yet, but I wanted to get it set up as they are slow.  I've heard a lot of good things about them outside of the sign-up process.
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@cryptoandcoffee ·
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.
👍  ,
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vote details (2)
@meno ·
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.
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@apshamilton ·
$0.09
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. 

Posted using [Partiko iOS](https://steemit.com/@partiko-ios)
👍  , ,
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vote details (3)
@meno ·
i agree as much as we get upset about the current valuation, we still have the biggest userbase.
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@apshamilton ·
$0.09
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. 

Posted using [Partiko iOS](https://steemit.com/@partiko-ios)
👍  
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vote details (1)
@atomcollector ·
$0.04
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.
👍  ,
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@meno ·
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

Posted using [Partiko Android](https://steemit.com/@partiko-android)
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@siratl ·
If Coinbase gets the ETF approval, they should be referred to as the real “**Bitcoin Jesus**”

Posted using [Partiko iOS](https://steemit.com/@partiko-ios)
👍  
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vote details (1)
@tcpolymath ·
$0.05
Coinbase clearly has the best blockchain lawyers in the US. So if anyone can do it I expect they can.
👍  ,
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vote details (2)
@meno ·
oh yes... i agree
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@enginewitty ·
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.

Posted using [Partiko Android](https://steemit.com/@partiko-android)
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vote details (1)
@meno ·
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.
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@offgridlife ·
I’m pretty happy with COinbase so far... 

Posted using [Partiko iOS](https://steemit.com/@partiko-ios)
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@rodneysreviews ·
"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. :)
👍  
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vote details (1)
@steem-ua ·
#### Hi @meno!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your **UA** account score is currently 5.631 which ranks you at **#452** across all Steem accounts.
Your rank has improved 3 places in the last three days (old rank 455).

In our last Algorithmic Curation Round, consisting of 325 contributions, your post is ranked at **#10**.
##### Evaluation of your UA score:

* You've built up a nice network.
* The readers appreciate your great work!
* Great user engagement! You rock!


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