There's allot of talk regarding the Coinbase possible "insider trading" to which Brian Armstrong, Coinbase CEO, has said will be investigated and dealt with.
The price, as many are discussing, shot up to $3700 before scaling back to about what the index is at around $3400.
$3700? How about the $9500 during the fiasco?
Per every single release of anything ever at Coinbase, the addition of BHC to the Coinbase exchange GDAX was a large pile of crap. Confusing and full of technical failures, delays, and ultimately an undoubted loss of money for anyone who bothered making an attempt to trust that Coinbase might actually get something right for a change.
Fat chance.
Coinbase and a "virtual currency exchange" go together as well as boiling oil and frozen water. It's been plagued from the beginning with technical problems, outages, messy deposits and withdraws, and a notorious knack for imploding right when the price is right to buy or sell.
The addition of Bitcoin Cash was unsurprisingly no different.
It was weeks early being originally slated for January and caught many by surprise. It went up, went down, locked up, crashed, spit out errors, and ultimately was shut down until the following morning after showing the clear inability to support the new asset.
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| Coinbase operated GDAX on December 19th, 2017 listed BHC at $9500 |
Insider trading set aside there is still the mix of all of the above and the price of a questionable $3700 completely overshadows the fact that BHC was at $8,500 on the order book and rose as high as $9,500 before ultimately being shut down after many flocked to the exchange to buy and sell Bitcoin Cash.
Silly people, this is Coinbase, you can't actually expect anything to work.
Ultimately Coinbase managed to get things up and running as they always do and GDAX is undoubtedly one of the coolest exchanges that heavily affects the overall industry index with it's volume.
This is thanks to, in part, the community and the GDAX user base doing the regression and stress testing for Coinbase.
Thus, as for the rocky launch of Bitcoin Cash on GDAX? That's certainly a "shocker there".
It's one of those "yeah, what could possibly go wrong" rollouts and the fact is, many have learned that Coinbase is much like the older Windows operating systems of the '90's and early 2000's.
When it comes out, you just don't use it ... you wait for service pack 2.
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