Follow the Money - What Coins will be Added to Coinbase?
In January coinbase is expected to add coins to it platform. This is huge! So with all the fake news out there speculating in the dark on which coins are likely to be added, I wanted to speculate for myself. Gdax has published in November their “Digital Asset Framework” or their insight into how they will evaluate future listings. I have read this thoroughly and you should too. Knowledge will separate great investors from investors that are separated from their money!
A quick overview of their "requirements" as the list is rather long:
Is it an open financial decentralized network with that promotes innovation and economic freedom providing more control over individual’s wealth and property?
Is it a secure open source code, with tested and documented peer review, demonstrating a security and disclosure of vulnerability?
Is it run by a qualified team, good interaction with the community, and does it have venture capital firms or hedge funds working with it?
Is it scalable which allowing for growth?
Does it have practical applications and real world implementation and does it help solve problems?
Does it have a mechanism for raising funds for future development
How liquid is the asset?
Is it globally traded?
Is there demand and enough tokens available to the public?
Does it comply with Anti-Money Laundering? (Sorry Monero!)
Is the ownership stake retained by the team is a minority stake? (Interesting they put this under token sale structure and what they “believe” are the best practices for ICO’s.
Is it an open financial decentralized network with that promotes innovation and economic freedom providing more control over individual’s wealth and property?
Is it a secure open source code, with tested and documented peer review, demonstrating a security and disclosure of vulnerability?
Is it run by a qualified team, good interaction with the community, and does it have venture capital firms or hedge funds working with it?
Is it scalable which allowing for growth?
Does it have practical applications and real world implementation and does it help solve problems?
Does it have a mechanism for raising funds for future development
How liquid is the asset?
Is it globally traded?
Is there demand and enough tokens available to the public?
Does it comply with Anti-Money Laundering? (Sorry Monero!)
Is the ownership stake retained by the team is a minority stake? (Interesting they put this under token sale structure and what they “believe” are the best practices for ICO’s.
Note: it does not specify it has to be a working product and does not exempt ICO’s, but you must have an alpha or beta product on testnet or mainnet. Wow talk about a wide open door.
After reading this I went to coinmarketcap.com as liquidity is obviously a must! One point I thought was really a key point to take note on is the practical application point. This gives me the impression that they want variety and not just a bunch of Litecoin' type tokens! So going by their paper I have immediately excluded Monero’. They have a slim to none chance of getting listed and slim just left the town! So I am reducing position here and will add to the coins with the most chance of being listed, so here is my list.
Most Likely:
- BCH – No brainer here!
- XRP – Another no Brainer!
- DASH – Not a shoe in but likely
- IOTA – Do you think they sent their software to MIT for the heck of it? They responded and are solving the issues.
- QTUM – Note the move in price!
- OMG –Buterik along with several Venture Capitalist firms, a great team!
- NEO – Venture Capital, a great team and market cap!
- STRAT – Internet of Value and partnered with Microsoft 2.55%
- WAVES - Create your custom chain
Speculative Outliers
- ZEC – Brings little new to the table small coin count BUT!
- XLM – I like it and there is a chance
- EOS – Could have been listed above!
- ADA – Another I like as a speculative one
- BTG – Just because of the fork!
- CVC – In the future.
- NXT – Another I like as a speculative coin
- Tron – Not sure, to new though I like the coin
- ECT – I almost put this as a shoe in but they already have ETH and it is s coin flip between them and EOS
- Steem – Maybe
- Lisk - (my personal longshot)
- ZEC – Brings little new to the table small coin count BUT!
- XLM – I like it and there is a chance
- EOS – Could have been listed above!
- ADA – Another I like as a speculative one
- BTG – Just because of the fork!
- CVC – In the future.
- NXT – Another I like as a speculative coin
- Tron – Not sure, to new though I like the coin
- ECT – I almost put this as a shoe in but they already have ETH and it is s coin flip between them and EOS
- Steem – Maybe
- Lisk - (my personal longshot)
Coinbase being the largest exchange in the US, and the only insured and regulated crypto exchange, that I know of, will be the springboard for large investors and institutions to gain exposure to the space. This is where the new money will flow, and this is evident as coinbase has ponied up with wall street personnel. Money is flowing at an unprecedented pace into the space. Just look at the wire delays on coinbase! Also they want to be the premier exchange period! You think they did all those recent hires for nothing? This will be the NASDAQ of cryptos and might frankly be bought out by Nasdaq after all Nasdaq is adding crypto futures soon!
Source:
- https://www.tradingview.com/chart/BCHUSD/5qpnQ3yB-Follow-the-Money-What-Coins-will-be-Added-to-Coinbase/
- http://www.valuewalk.com/wp-content/uploads/2017/12/Coinbase
- https://support.coinbase.com/
Thx for that quite informative post. Keep up with creating interesting content.
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