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Coinbase Ninja Release of Bitcoin Cash & Allegations of Insider Trading

1,216 views · Published 20 December 2017 · 16:24 · Indexed 4 November 2026

Channel: Rules For Rebels · 2017 · Howto & Style

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Hey guys, what a crazy day in the world of Bitcoin and Cryptocurrency yesterday. I'm still trying to digest everything that happenned. 

Yesterday I was doing an interview for this channel and in the hour or hour and a half I was tied up in that, Bitcoin Cash was released on Coinbase despite Coinbase having initially said they wouldn't release coins until January 2, so this was kind of out of the blue with no announcement.

There are a lot of allegations of insider trading and Coinbase employees buying up Bitcoin Cash leading up to this event knowing that it would spike in price, essentially insider trading.

Of course cryptocurrency right now is the wild west and is unregulated so legally speaking I don't believe there's anything wrong with this, however ethically or morally speaking it's kind of disturbing that one company can have so much influence over the space and price of a given coin.

I think crypto exchanges are the biggest weak link in the crypto system. One because if the government wanted to regulate it that's who they would go after and two, because there's not enough exchanges so too many people trade on Coinbase meaning that when something happens with Coinbase it's not just one exchange, it affects the whole community. The exchanges people use are more diversified now than back in the days of MtGox but its not like the stock market where people are spread out across tons of brockerages, I would wager to bet that well over half of crypto holders use Coinbase so Coinbase has a lot of power in the space.

It's kind of interesting, I was just going to make a video yesterday speculating on what Bitcoin Cash would do on January 2 and in the following days and then out of the blue this happens yesterday.

One other thing I had kind of a commentary on is a lot of people in the crypto world are like I'm not paying taxes, I don't want government regulation, blah blah blah but then after yesterday are crying that this is insider trading and that the government should stop this. YOu can't have it both ways, you either want freedom and as little regulation as possible, which I personally do, however I realize wtih that comes personal responsibility and realize your swimming with sharks. You can't say stay out of my life and then run and cry to mom when you want help.

I'm still kind of digesting this whole thing, I have to read up on it more today and get my thoughts together and decide what I'm going to do moving forward but if there's any info I'm missing or if you want to add your thoughts drop your comments below.

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