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Comment by MuffinFlavored | Hacker News Reader

How long until Coinbase blocks the buying of popular tickers too because powerful hedge funds tell them?

Coinbase isn’t the only game in town fortunately. Arbitrage and the decentralized nature of crypto makes it impossible to stop. RobinHood just removing the buy button hopefully opened some eyes today to how rigged the traditional system is. It is free market when it benefits the powers that be. When it goes awry, they are always bailed out.

Bernie put it best today- “The business model of Wall Street is fraud.”

Anyone that wants out of this system, come over with me to where the crypto is. It has its flaws, but not like this.

I want cryptocurrency to succeed long-term, and it has some genuine advantages (and some wrinkles to be ironed-out long-term), but protection from the puppet master cabal secretly pulling the strings of high finance isn't one of them.

There are much more mundane explanations for Robinhood's actions[0][1] than a high-finance cabal hiding in plain sight.

Is there some institutional conspiracy theory version of Hanlon's razor, something like "Never ascribe to a secret cabal that which is ascribable to finite resources and inflexible regulations"?

Disclosure: currently short to the puppet master lizard people cabal from Nibiru a double-touch knockout option on my soul ;-)

[0] https://www.vice.com/en/article/wx8bpx/experts-say-robinhood...

[1] https://news.ycombinator.com/item?id=25950685

Hanlon's Electric Shaver: Never attribute to conspiracy what can be attributed to locally bad incentives.

Not likely because the market makers will have to compete with DeFi on chain.

Coinbase has frozen trading of various cryptos before.

They have already paused trading during periods of high turmoil. When bcash was announced, for instance. I think that actually set their standard for "open the market in 'post only' mode for a period before actually starting trading".

The term "Bcash" is a social engineering attack against big blocks[0]. This attack has been so successful, the name still shows on Wikipedia[1].

[0] https://medium.com/@jonaldfyookball/why-some-people-call-bit... [1] https://en.wikipedia.org/wiki/Bitcoin_Cash

Is it? Or is trying to call it """bitcoin"" cash an attempt to confuse potential users?

Perhaps, if it wasn't a fork of Bitcoin. If was originally called Cash Coin and rebranded to Bitcoin Cash, then it would seem likely that group is trying to capitalize on the name. That's not the case here. This name came naturally, just like similar names occur in other forked software.[0]

Bitcoin Cash came from a minority group (big blocks) in the Bitcoin community.[1]

[0] https://en.wikipedia.org/wiki/LibreOffice [1] https://medium.com/hackernoon/the-great-bitcoin-scaling-deba...

I think calling CAD the Canadian “”dollar”” is an attempt to confuse people! /s

> How long until Coinbase blocks the buying of popular tickers too because powerful hedge funds tell them?

Plot twist: they already have, and worse. Check the historic BCH fiasco.

They'll just block all users from logging in when they see fit, continue to claim it's because their servers can't handle the load, in fact it's a weak cover story of them trying to prevent impulse selling when Bitcoin et al start skyrocketing - e.g. market manipulation; it's what, happened at least 4 times now?

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