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by where_do_i_live 2909 days ago
You are full of it.

> They only allowed people to sell it on their market again, about 24 hours later, after the coin went down to $1,000.

This is completely false, and a lie since you say you were trading it at the time. BCH was trading between $3200 - $4300 when it reopened later the next day.

Not only do you not understand what the verb steal means, you give false information as to how the BCH market traded. You also don't seem to understand that for every buyer there is also a seller. Further, you provide no evidence of your claims of insider trading. I for example, "knew", that BCH was highly likely coming to the exchange based on public information that was already available. BCH API entries were added to coinbase/gdax DAYS before it was open for trading. That you conflate people that were paying attention for clues to the same as people of being guilty of insider trading is sour grapes.

What lesson did I learn from your post? That some people are liars and look to cast blames on others for their own decisions.

Why in the world would an expert trader like yourself place an order for something that was over $1000 higher on GDAX compared to other exchanges? Why because you thought you could scalp it and sell it for more to someone else. You played a very dangerous speculative game and lost - I hope the tuition payment you spent will be taken to heart.

1 comments

Their allegations are not entirely off base. The Coinbase BCH launch was a complete disaster. The BCH price pumped for days on other exchanges leading up to the announcement. See here for some more information:

https://motherboard.vice.com/en_us/article/pam4xn/coinbase-i...

In addition, they opened up trading on GDAX, but waited to open up buys and sells on Coinbase until Roger Ver’s segment on CNBC Fast Money (right when the price was at its highest).

That said, I do not think Coinbase should pay someone back for making a poor decision with their money. People like to deflect their own mistakes instead of taking responsibility. Coinbase didn’t make this person buy BCH at $5,000.

That the rollout of BCH was problematic is not something I disagree with. It was a huge embarrassment professionally for coinbase.

I am well aware of BCH increasing in price prior to the launch but #1 EVERYTHING was going up in price at the time - BCH started ramping up the prior week from ~ $1700, and #2 really took off once the API keys were publicly found that weekend. That there was a peak of insanity on the release of BCH, I don't dispute, I merely claim that these other claims of nefarious actions can be easily explained through more mundane behaviors.