Remembering Coinbase CEO 7 years later..
https://ift.tt/g7UEhVD
I bought my first 0.3 BTC on Coinbase back in Nov, 2014. It was easy, I just signed up, deposited $100 and bought some BTC. I wasn’t trading seriously, just messing around, so I lost most of it and recovered what was left.
Years later came all the KYC/AML crap and since I didn’t own a smartphone, it locked me out of my account. Until last year when the price tripled. The hype compelled me to buy a cheap webcam so I could get back on Coinbase. And that’s when I started trading seriously.
After a couple of weeks, I noticed something suspicious. The price would decline slowly and then shoot up. When I missed the dip, the pattern would keep repeating, with just enough noise to look legit, like the combined activity of many bots. But as soon as I buy in, the price would respond to my activity as if I was the only human in the market. It would fall below what I paid and idle there for a long time.
I was on a roll for a while but then I started breaking even and then I suffered a couple of losses and that was it for me. I don’t trust the market, I feel the game is rigged. I can’t be sure if it’s just bots or the website itself or both. Now I only deposit fiat and withdraw Bitcoin.
Cryptocurrency
