/biz/ - Business & Finance

>>5242754
Coinbase is fucking retarded.
There will be thousands of complaints to the SEC tomorrow. This shit won't last for much longer.
Coinbase ruined it for everyone.

Can someone explain how this happened??

>>5242846
I actually don't understand it either. How is this possible even with insider trading?

I blame BCH. I always hated that bullshit.

Coinbase employees were trading bch

>>5242940
>>5242899
>>5242846
why is it so weird? and why is everyone so supprised a coin 3x after being announced on gdax exchange? if people want to pay 3x for that exchnange price no skin off my dick

>>5242948

How do you know? This screenshot doesn't tell me anything.

>>5242899
It goes beyond insider trading. They literally pulled a number out of their ass and typed it in the web site as the sell price and allowed thousands of unsuspecting normies to buy at nearly 3x the true market price. People will be going to jail for this. The SEC is going to fuck crypto right in the ass very soon, and it's all coinbase's fault. I wonder if it was an inside job, i.e. one of the big bank's paid a coinbase insider to fuck this up. That's the only way this sort of royal fuck up can happen. It's so beyond your everyday incompetence. It's unbelievable.

>>5242754
This is exactly what the government was waiting for.

I give it 6 months tops until Armstrong is rotting in prison.

NEVAR 4GET

>>5242805
WAHHH I CHASED A PUMP AND GOT JUSTED WAAAAAAAAAHHHHH

Quit crying bitch, everyone here told you not to chase pumps and you did it anyway

i pray that the mother of all bear markets comes so i can accumulate BCH at sub 1k again

>>5243013

>he bought at $9500

>arbitrary pause and play your exchange while you trade BCC on other exchanges

Honestly, its a fucking brilliant exit strategy. Well done. They knew the BCC audit would ruin them, might as well take everything down with them.

https://www.whistleblower.gov/overview/submitatip/

>>5242754

None of those orders went through you flaming retard. It's totally meaningless.

>>5243046

I take this as a lesson. Dont chase the pump.. but this shit was rigged.

>>5243046
I didn't chase anything. I don't buy or sell cryptocurrency. I only deal in SEC backed securities. I'm just following this shitshow out of curiosity. What happened today wasn't the normal price fluctuation caused by panic buying. It was not a normal pump. There was frank manipulation by the exchange. People will be going to jail for this 100%.

Coinbase never had the BTC to get BCC.

There were probably buying up BCC for months trying to close their gap.

Figured it was out reach and orchestrated this massive pump and dump.

>>5243006
If it was $1 and went to $3 there wouldn't be this crazy reaction.

>>5242846

> BTC goes into natural slump after huge Bull market
> Insiders move assets from BTC to BCC
> Insiders control one of the big exchanges
> People start moving out of BTC to BCC and other safety coins
> Insiders at Coinbase move fast into BCC.
> Coinbase announces BCC transactions
> BCC skyrockets
> People dump cash into BCC pumping the price through FOMO
> BCC hits 8K
> Coinbase locks up
>Comes back online, all BCC sold, price craters 5k in 30 seconds
> Other exchanges adjust to 3-4k USD/BCC
> Coinbase locks price at 9K USD and forces sells to complete
> People who FOMO into BCC are fucked
> People who bought on Coinbase are royally fucked
> People who sold on Coinbase (eg Coinbase owners) made 9k / BCC off a 3k coin.

Get ready for regulation everyone.

>>5243208
That's basically a shitcoin mooning, which gets crazy reactions. LINK posters react when they go 1-1.1

remember they are jews so no jail time

>>5243088
Fuck off narc I don't want to get punished by the government because you're greedy and retarded

>>5243013

Fuck are you talking about? You can't even actually BUY bch on coinbase right now.

>>5242754
regulation is definitely right around the corner. thats why im out of monero. all crypto will crash but you better believe monero will be public enemy #1

>>5243374
>>5243013

See, stupid?

Normies clicked Buy on Coinbase. Not enough sell orders to match the buy volume. Price skyrockets because dumb normies. That's it.

>>5242754
>Pump and dump well executed. I fell for it. :/
don't lie nobody fell for this except a few idiots

>>5243158
Please elaborate.

>>5243278
Don’t forget the flippening. Coinbase flipped their users’ BTC for BCH against their will lmao aka “fork”

You have to be dumb as fuck to exchange fiat for cryptos. This was legit back when you could mine this shit almost for free and make easy money off it, now it’s literally retarded to put your hard work earning into an unregulated market that constantly fluctuates double digits percentage in a matter of minutes

>>5243467

I didnt go in at 9k but I dumped most of my crashing shitcoins and tried to catch the ascent. Ended up missing the rocket. Good think it was only a few hundered real dollars. Im only down like 50.

>>5243551

All exchanges are supposed to actually have enough BTC in their wallets to match what customers deposit. That's why most credible exchanges were immediately able to credit customers with exactly 1:1 BCC even if they hadn't gotten the wallet working yet because they knew there finances were solid.

This is why BCC was a great audit of exchanges. To credit BCC exchanges had to have had the actual BTC.

Coinbase was likely selling or loaning the BTC their customers deposited, like fractional reserve banking, except the problem is when BCC was forked this meant Coinbase didn't actually have the BTC so won't actually have the BCC.

The fact that coinbase didn't credit BCC was extremely suspicious.

>>5243672
>Coinbase flipped their users’ BTC for BCH against their will lmao aka “fork”
What the fuck are you saying retard. Everyone who had BTC got the same amount of BCH for free.

>>5243278
None of this happened bro. Those $9000 orders all got cancelled before trading reopened. Coinbase will be just fine.

>>5242754
lmao normies are getting serious here over their rent money they threw at the screen because of greed.

>ask trump to save you

>>5243013
thats not what happened dummy, people out fomo'd the supply. they let it live without enough liquidity.

>>5243278
>2018
>using coinbase
just go

>>5243793

I dont know if this is what actually happened or not. Im just throwing out a theory. I do think my line of thinking will be one way they justify regulations. Tonight's adventure on the roller coaster will too, no matter the reason.

Its only a matter of time.

>>5243039
f

>>5243672
AHAHAHAHAHA DUMBASS WHAT THE FUCK ARE YOU EVEN SAYING. EVERYONE, THIS IS HOW A PAID SHILL LOOKS LIKE. IT'S TIME TO KILL YOURSELF PAJEET

>>5243831

Not all of us bought BTC in 2008 or have $100K laying around. Eat my asshole.

>>5243980
>2008

Be realistic. Even amount early adopters most didn't get in until 2009.

2008 and you better have millions.

>>5243772
Thank you, that's what I thought you were driving at. Was BCC designed to be a "forced audit" in your mind?

>>5243980
>sure sure faggot thats why you still sit on image board everyday

>>5243793
this is actually exactly what just happened

>>5244044

No, not designed, just ended up being that way.

>buy decentralize cryptocurrency to avoid government intervention
>as soon as something goes wrong complain to the government

are cryptocucks even self-aware?

>>5244125
They're newfags here to make a quick buck. I can bet everyone crying and bitching about the .gov needs to crack down on this heard about crypto on leddit or twatter and has only been using crypto for a month or two

>>5243013

REEEEEEEEEEEEEEEEEEEE!

THEY CANT KEEP GETTING AWAY WITH THIS!!!

>>5244125

There's a difference between the government being able to manipulate the value of currency vs prevent fraud and other crimes.

>>5244095
What other exchanges / crypto services had this happen as well?

>>5243046
This. Wah, I wanted to become a millionaire without doing anything so I chased a unicorn over a rainbow, but it turned out to be a scam. You think?

>>5244318

None I can recall, besides coinbase, did not immediately credit BCC.

bitcoin is already back near what it started at today so i'm not sure what all the fuss is about.

with that said, coinbase could get in trouble for insider trading of commodities here since they're involved with bitcoin futures.

>>5242754
jesus the tinfoil hat in here is insane

>>5243039
That looks my life