Follow the Money - What Coins will be Added to Coinbase?
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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:
1) Is it an open financial decentralized network with that promotes innovation and economic freedom providing more control over individual’s wealth and property?
2) Is it a secure open source code, with tested and documented peer review, demonstrating a security and disclosure of vulnerability?
3) 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?
4) Is it scalable which allowing for growth?
5) Does it have practical applications and real world implementation and does it help solve problems?
6) Does it have a mechanism for raising funds for future development
7) How liquid is the asset?
8) Is it globally traded?
9) Is there demand and enough tokens available to the public?
10) Does it comply with Anti-Money Laundering? (Sorry Monero!)
11) 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:
1) BCH – No brainer here!
2) XRP – Another no Brainer!
3) DASH – Not a shoe in but likely
4) IOTA – Do you think they sent their software to MIT for the heck of it? They responded and are solving the issues.
5) QTUM – Note the move in price!
6) OMG –Buterik along with several Venture Capitalist firms, a great team!
7) NEO – Venture Capital, a great team and market cap!
8) STRAT – Internet of Value and partnered with Microsoft
9) WAVES - Create your custom chain
Speculative Outliers
1) ZEC – Brings little new to the table small coin count BUT!
2) XLM – I like it and there is a chance
3) EOS – Could have been listed above!
4) ADA - Another I like as a speculative one
5) BTG – Just because of the fork!
6) CVC – In the future.
7) NXT - Another I like as a speculative coin
8) Tron – Not sure, to new though I like the coin
9) ECT – I almost put this as a shoe in but they already have ETH and it is s coin flip between them and EOS
10) Steem – Maybe
11) 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!
FOLLOW THE MONEY!
A quick overview of their "requirements" as the list is rather long:
1) Is it an open financial decentralized network with that promotes innovation and economic freedom providing more control over individual’s wealth and property?
2) Is it a secure open source code, with tested and documented peer review, demonstrating a security and disclosure of vulnerability?
3) 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?
4) Is it scalable which allowing for growth?
5) Does it have practical applications and real world implementation and does it help solve problems?
6) Does it have a mechanism for raising funds for future development
7) How liquid is the asset?
8) Is it globally traded?
9) Is there demand and enough tokens available to the public?
10) Does it comply with Anti-Money Laundering? (Sorry Monero!)
11) 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:
1) BCH – No brainer here!
2) XRP – Another no Brainer!
3) DASH – Not a shoe in but likely
4) IOTA – Do you think they sent their software to MIT for the heck of it? They responded and are solving the issues.
5) QTUM – Note the move in price!
6) OMG –Buterik along with several Venture Capitalist firms, a great team!
7) NEO – Venture Capital, a great team and market cap!
8) STRAT – Internet of Value and partnered with Microsoft
9) WAVES - Create your custom chain
Speculative Outliers
1) ZEC – Brings little new to the table small coin count BUT!
2) XLM – I like it and there is a chance
3) EOS – Could have been listed above!
4) ADA - Another I like as a speculative one
5) BTG – Just because of the fork!
6) CVC – In the future.
7) NXT - Another I like as a speculative coin
8) Tron – Not sure, to new though I like the coin
9) ECT – I almost put this as a shoe in but they already have ETH and it is s coin flip between them and EOS
10) Steem – Maybe
11) 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!
FOLLOW THE MONEY!
Nota
Just to be clear, these are guidelines not must haves. The paper had a huge disclaimer at the top that they reserve the right to modify and adjust. However they are trying to implement standards going forward. To think a coin in the top 10 market cap let alone the top 5 will NOT be accepted would be crazy on their part. Remember the investors in coinbase are not in this for philosophical reasons, they are in it to make money!! These are mainly guidelines going forward and you can see that coins like XRP have made moves recently (escrowing) etc... that were most likely part of a negotiation so they can be listed.Nota
Normally I put "Partnered" in quotes I meant to here as well. I see a lot of "partnered comments" and I have mentioned in previous articles to be careful with this term as it does not mean "Investing". Anyone can become a Microsoft or Google "partner"! This does not mean that MSFT is working with them however. But AZURE which is MSFT's data base, and using a block chain in conjunction with is important! This goes from inventory to invoicing. So though it does not mean MSFT supports the coin, it does mean they can work with MSFT's data base software.Nota
Looks like there’s a lot of faith in QTUM getting listed! 95% in hours! Pencil them in on the short list as we follow the money!Nota
A lot of "centralized" "decentralized" comments. Just my opinion, but when someone says "centralized" I immediately think of government and "central banks". I think you could call bitcoin centralized as most of the mining happens in China. Or any other as you can not use the code to fork your own coin without consensus. So in the paper they state "voting". Well in a truly decentralized world there would be no voting, like in bitcoin. I could download the code and fork the "goldbug1" coin from Bitcoin. I can not do that with many of the others. I know there are exceptions but you get my point.So this is a vague term. Bitcoin can be forked by anyone so it would meet the intent of decentralized and since most of the others require "voting" or other means to fork, none are truly decentralized.
Bottom line when I hear "decentralized" I think of government and central banks where you can not print dollars. So though XRP is really not truly decentralized, I can quickly convert it to BTC or ETH or opt out of using it. I can not opt out of using USD through banks period! that is the difference. I can not deposit bitcoin to bank of america. I can only deposit USD or government issued currencies.
Nota
It's official BCH is on coinbase! look for them to add more in the coming weeks, I believe this was a test run and they will add one at a time. XRP or DASH is next!Nota
As we enter today I have been looking at price action. I also did a search this morning on which coins would be likely added to coinbase and something interesting pulled up when typing in XRP and XMR. Now as I stated I sold XMR as I didn't think it would make the coinbase challenge. However this morning I changed my mind. Coinbase's support site came up. Hmmmm that was odd. So i reviewed the source code, copied it to word and this came up.a class="" href="/customer/portal/emails/new?q=MONERO">Contact Us</a>
NOT ONCE BUT TWICE! You can verify it by doing the same.
No there has been some odd price action with Monero so I bought back what I sold just as a speculative play. I'm fine with being wrong but with the BCH leak I'm sure others were leaked as well so I am looking for strong buying as rumors spread buying increases.
This is not a call to buy XMR and normally I would not publish this, BUT I mentioned I sold XMR and as I just bought it back I want to provide full disclosure.
Nota
Thanks to a few good webguys that commented it is probably nothing to bank on but regardless I would have bought back on price action alone.
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