Coinbase to add new coins, but sadly Steem isn't one of them
Coinbase announced on their blog today that they would be adding support for several new coins.
Unfortunately for us, steem was not one of those coins.
Coinbase was quick to point out that the coins they listed were the ones they were just LOOKING at adding, and didn't necessarily mean those coins would be added for sure.
The coins would be subject to further review before they could be sure that they would be suitable for the platform.
Never the less, every single one of the coins mentioned skyrocketed on the news.
Well, "skyrocketed" in today's markets.
Up 20% would have been a slow Saturday in 2017.
This year, it's hard to go up a couple percent, let alone double digits.
Coinbase thinking about adding 5 coins.
Check out the price action on the 5 coins when the news broke:
Cardano - Up 14%
BAT - Up 28%
Zcash - Up 27%
Stellar - Up 12%
Zrx - Up 34%
(Source: https://www.coindesk.com/5-crypto-assets-are-soaring-on-possible-coinbase-listings/)
Much better this time around...
Overall, Coinbase did a great job of not leaking the news as most of these charts look like there was no insider trading before the news was released.
Coinbase said that was a goal of theirs, which is why they released the coins they would be looking at adding to the public at the same time they released that info to their employees.
Making sure they avoided another Bitcoin Cash debacle.
The Coinbase effect is alive and well. Perhaps they will consider steem at some point.
Especially since steem technically has a larger market cap than say, BAT.
Perhaps this community of roughly 1 million registered accounts should start contacting coinbase and requesting they add steem to their portfolio...
What do you think?
Stay informed my friends.
Follow me: @jrcornel
I think real emails from the actual 50 or 60 of us that are real on steemit, will make no difference...(sarc)
😂😂
Haha that is probably true.
That beings said, it is still likely better attempting than not. If Coinbase realizes there is strong demand for a certain coin, they are probably more likely to move it up their line in terms of additions.
yeah, I'm just not feeling very positive about steem right now...after nearly 12 months, this is the most negative I have felt..in terms of it enduring...
I envisaged a much larger uptake of the platform (real people, interacting).
It may be because of my mindset - but I am aware that people who were on here since I joined, are now very quiet, or silent...All in this last month or so...
It's easy to blame it on the prices etc, but it was around the same before, and that never stopped people from being active, and posting everyday...(and more importantly , with a sense of enthusiasm about steemit..)
Yea it is pretty clear that the developers stopped focusing on steemit long ago. They are focusing on SMTs and launching communities. After those launch, I think we will see a very different steemit. Hang in there.
Thank for sharing this post sir..
They probably threw bat 🦇 in there just to spite us lol! I don’t think coinbase wants to see all us bloggers get rich that easy! We need to work for it here, but it will feel much better in the long run when we finally do get there with or without coinbase.
Yea Zcash is an interesting one. The rumor is that they will support public transactions only, not the anonymous ones.
Just chill guys. Soon they will add steem in their platform, hopefully..
I think it may be some time before we see steem on there, but I do like your optimism.
We want STEEM! We want STEEM! We want STEEM! We want STEEM! We want STEEM!
Did you email this to them yet?
The sad truth is that even Steem has very good intrinsic value and notably lots of organic users inside.
But still if centralized exchanges like Coin Base decides to adapt any other coin, that coin suddenly becomes more valuable than even with a coin with better technology.
Yep, that is the current state of crypto investing.
It could be that STEEM has major upgrades ahead which will make it buggy for sometimes and without them STEEM is incomplete. Perhaps, STINC is halting all marketing and PR for those releases. After SMT, STINC should go all guns blazing and bug Coinbase, BitFinex and OKex for the final addition.
When all the top coins are on CoinBase, it loses its charm for being elite as an exchange :)
Could be, and yes that is a good point, by the time steem gets there, if there are already 50 other coins, not so magical.
By the time coinbase release the coins.. there will be plenty of better exchanges to access. There will be no value in using there site.
I am not so sure about that, it still is one of the few fiat gateways that US based users have.
By the time Coinbase gets itself together, Binance will be taking fiat, then it's game over for Coinbase. Great information dear @jrcornel.
Hopefully that is when there is a "race to the bottom" in terms of fees the exchanges charge. That is what happened with the retail stock exchanges. Competition brought about cheaper commissions.
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I beleive BAT will be on there since Brendan Eich has close relations with the Coinbase team, and the CEO of Coinbase has taken a liking to BAT due to its actual use already compared to the rest of the ERC20 tokens. I hope they are solve the problem.
Very good point. That is probably the only reason a coin as far down on the coinmarketcap list, and an ERC20 token, is being considered ahead of several other seemingly more likely choices.