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Hours before big drop in BTC, Coinbase in advance “warns users” of potential outage in service due to amazone AWS servers … sorry folks, you want to get out while BTC price plumments … hehehe, oh, didn’t you see our notice earlier - not our fault (no, of course we aren’t profiting on your inability to trade out - what are you a tin-foil hatter!)
What manipulation!? Nothing to see here. Move along now peasants.
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Also possible: BTC dropped in response to the outage because people were overbought near ath, and needed to reduce positions fast when trading was hit.
I don’t know what the truth is, but there are always multiple explanations, and it’s all too easy to select the one which confirms what you want to believe, and to post that to social media, and then for others to repost that. That’s a far more friction free process than looking at multiple possibilities and putting out considered multiple possibility hypotheses. Hence the former dominates social media.
I know you’re an intelligent person Tyler, as are others here who push these ideas, but I don’t trust your judgement and would not follow you on these issues because it’s my judgement that those pushing these ideas are not looking at the evidence rationally. It looks to me more like people being attracted to dodgy sources that meet some need in them, and not looking deeply enough into the sources of what they are saying.
It’s very difficult, and I know I’m vulnerable to this too, so of course I could be wrong about that, and about the issues we’re discussing.
It’s when people speak about things as if they are incontrovertible truths (not referring to anyone here, but more generally), and show no interest in contradictory evidence that I consider them unreliable sources, and vice versa. Not foolproof, but based on experience, a reasonable approach.
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100% true … but this isn’t the first time coinbase has been implicated in locking users out during price dumps.
What I am really saying here is if you don’t know for sure what ALL the risks are, then don’t play the game. If we can’t really trust centralized exchanges then get away from them.
No need to second guess my views on the matter.
I didn’t need to, you set them out and I responded to them and explained to you why I don’t trust your judgement.
It’s useful to hear that you are not basing this on one incident, I note that. And that your real point was something not made clear but now put explicitly. I think it would be better to do that in the first place - say something like “hey, folks, this is why I don’t trust centralised exchanges - look what happenened”.
That you didn’t is to me a signal, that you aren’t clear at the very least, or aren’t aware of or being transparent about your own motives in what you actually said, which was emotive and stating as if obviously true, a hypothesis for which there’s no evidence presented (cf. Trump). This is a classic deceptive technique known as oratory: bypass the rational mind by stimulating an emotional response rather than providing a rational case. One is easy, effective, the other hard and much less effective. It’s why we got Trump IMO.
I’m not saying this is conscious on your part, we all have unconscious motives, and I’m open to people calling me out on them. It’s been very helpful to me, even though I don’t always see it at the time.
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It’s true … can be used for deceit … In my case, I assume that most here are smart enough and have known me long enough to know where I’m coming from. That coinbase has been fingered for manipulation in this regard in the past is a matter of record - I tend to assume that many have memories as good as mine for such things, probably an error of judgement on my part, but if I spend all my time explaining every detail I couldn’t possibly report much of anything … easier to come in with the apology and detail later for those who didn’t catch on in the first place - or so I’ve assumed.
From 2018:
… and I’m sure there were several other times too … I will make a list if people really feel the need for it.
What I’m emotive (angry) about here, more than anything else, is that centralized exchanges keep screwing people one way or another and I hate it.
We aren’t going to have that bright future of hard money if we remain stuck with these intermediaries. I want to motive people (especially coders) to consider this and think about ways around these new gatekeepers.
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Yes lets all celebrate the genocide of >100m Native Americans by eating turkey and crap memes
Thanksgiving - the whitest of all “celebrations”.
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I see BTC’s drop (and even greater drops for other coins) as simply another correction. The prices moved up too quickly and the market reacted. No need for nefarious plots to explain this.
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In general people have a tendency to see what they want to see unless the reason is staring them in the face. What has surprised about Trump is that this doesn’t inhibit him or his supporters.
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If you always look at what Trump does from his perspective of “how does it benefit me personally?”, everything makes perfect sense.
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From the page you have linked:
- The event will end when either of the following happens first : 1) The date Bitcoin hits $20,000; 2) January 19, 2021 UTC
Does that mean that CMC organizers don’t think that Bitcoin will hit $20,000 until that date, so they won’t have to pay any money ? Or on the contrary they think it will reach this level and so the game is relevant.
Does it matter what they think? Nobody really knows. It’s all speculation.
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