Ethereum flash Crash! Coinbase is still okay to us! Bitcoin update!

hey guys it's Austin angler here and I think this is going to be one of the most important videos that you watch today if you're interested in Ethier IAM and coinbase and what happened during the crash now we're going to talk about coinbase and how I believe that they're trying to cover their own asses and I want to also talk about the etherium Network and the issues that are currently arising with the etherium network now coinbase has a blog out there that says that some big whale sold thirty million dollars worth of of aetherium on the on their exchange well I don't believe that that's true first of all a large investor like that doesn't sell all at once even if they started way back when when aetherium started they don't sell all at once you don't see any of the large executives or any rich person for that matter sell all of their shares of any stock all at once because they know that it would tank the stock price immediately and they wouldn't get as good of price as they would if they just sold it off in blocks so why didn't that seller sell off the million dollar blocks at least if they were selling thirty million dollars worth now why I also want to bring to a point is we saw the price and we have the trade history in front of us and everybody can go look that up is it went from 74 dollars on the downside to 10 cents why does it go from 74 dollars to 10 cents you should ask yourself you're telling me that nobody else had limit orders in there for five dollars for ten dollars for twenty to fifty dollars I think that is crazy we see it go from 74 dollars to ten cents that is a computer issue that is a coin based problem and that was on their exchange now we went through this in the stock market with Facebook when it I P owed I'm not sure how many people actually followed Facebook's IPO or tried to buy Facebook when it did IPO but the as dak had a network issue as well which bogged down which Zero Hedge is and a lot of other very intelligent people are saying that the etherium network bogged down so nobody really knows what's going on but this also happened with Facebook and it took them about two maybe three weeks to figure out what actually went on but coinbase has a magical answer in one day and they say everything worked perfectly no that's just to cover their own asses right now because they have hundreds if not thousands of emails coming from people that think that they should get their money back because they basically lost everything especially those that had margin on and got sold out at 191 171 I know people I've talked to people that had that happened to them and yeah that is unfortunate and they probably shouldn't have been on margin but I think there was also something else behind that and coinbase doesn't want to admit it right now because otherwise they would owe people probably hundreds of millions of dollars now I also want to get back to that Facebook issue because I worked as a broker during that time and I was the one answering calls from people wondering where their shares were why didn't their transactions go through why did they get this price and not this price well we called our trading desk and our trading desks didn't have answers because the Nasdaq didn't have answers and the SEC didn't even have answers and nobody still fully knows but Nasdaq said it was a network issue and a lot of people did get their money back a lot of people that lost a lot of money did get their money back during that and I think coinbase is probably trying to cover that up I know that my brokerage firm lost over 60 million dollars in the Facebook IPO so that's just that's just on the Facebook IPO this I don't know how large it would be but I know that it would probably take coinbase out of business if they admitted something like that now let's go over what a lot of other intelligent people think that made this crash and they think that the status ICO and the the Civic's ICO I believe is what it's called Bogdan etherium network down so transactions couldn't go through well they're still having issues with the etherium network being bogged down and people aren't able to even send their aetherium from coinbase say to crack in or any external wallet right now because it's still so bogged down now that brings me to raise one other point iffy theorems already having these these issues of network bogging and scalability and they're 1/10 basically the size of bitcoin to end transaction counts then and bitcoin is having scalability issues and they're fixing it what is etherium got to look forward to the theory um's caught to change the theorem was supposed to be something very flexible and easy and scalable and not have all the issues that bitcoin has well we're seeing it live right now in this last crash what's going on so I don't believe coin bases blog first of all and you can hate all you want or you can believe their blog all you want but wouldn't it make sense that they're covering their own asses so that they don't owe a ton of people millions of dollars and I hear about one guy making millions of dollars off of this one trader having their order in a ten cents and a dollar I don't believe that you have to believe that other traders had limit orders in at $10 $20 $50 I know people that had limit orders in at $250 that didn't get filled why didn't they get filled but the $0.10 order did that's a lot there's a lot of questions here there's a lot of dark matter there's a lot of fishy things going on right now with coinbase and aetherium and there's a lot of unanswered questions and so don't jump into one blog and just believe that that's the answer and that's the end of it and everybody else is wrong keep an open mind is all I'm asking for all my viewers and you know if you like this video like it if you have a comment feel free to comment I'll try to answer you and definitely subscribe because I want to keep you know people informed that's my only goal so I appreciate you guys for watching the video like I said like comment or subscribe to this video and thanks and have a good night

32 thoughts on “Ethereum flash Crash! Coinbase is still okay to us! Bitcoin update!”

  1. Ok, is Coinbase related to GDAX? I'm asking because I heard the same story from GDAX; huge sell and that tanked the price to run through everyone's margins and orders automatically like wildfire. Maybe the reporter was confused re the exchange?

  2. You say that it is impossible but you say that you know people who lost a lot of money? How can it be possible?

  3. Lol, this is so obviously an inside job and there is absolutely nothing anyone can do about it. This is an unregulated industry. The Wild Wild West of the new millenium. The Moral of the story; 1) don't put in stop losses 2) Do NOT under any circumstances trade on margin (how could this be a good idea in the most volatile market on earth?) and last but most importantly 3) Don't let them whales knock you out of the pool. HODL. If it was good enough to buy then it ought to be good enough to HODL.

    BTW – this also happened about a month ago on Poloniex. I just happened to have put in a very low ETH order that did get filled there, so my intuition paid off. Remember; big money brings out the big scams.

  4. Basically, coinbase is now the government's b**ch and I don't trust them:
    This used to be a bastion of freedom, now reduced to heaping cow poop and a support crew that is basically a cat sleeping on the keyboard.

    Run and don't look back.
    I took my shit to Paxful and other sites, at least they respond within the hour with
    all the information you want.

  5. anyone able to see the flash crash on their coinbase chart for eth? i cannot see it and i want to make sure the value chart is current and accurate

  6. so coinbase being a centralized exchange – makes it vulnerable because there's no open source blockchain record on where or – who – therefore no proof for people curious enough to dig this up for a court if they wanted to let the court decide – isnt' this what cryptocurrency is suppose to do is put the power of money back in the hands of the people? trading from a decentralized exchange is not something a lot of people talk about – but if traders are talking about cryptocurrency – shouldn't it also be talked about along with a decentralized exchange – that's the only way – you can have proof right – and if you think about it – think about it guys – trading a decentralized currency in a centralized fashion – is the same as having gold and silver and giving it to the government and letting them pas out dollar bills. There should not be any manipulation in crypto – and the only way a whale could is – well if it's a bank for example trading on a centralized exchange – right or wrong

  7. I like you trade the stock market and for over 35 years and yes nobody that has a million dollars worth of assets would be stupid enough to trade it in one block. This flash crash was manipulated so as to capitalize on the poor succkers that had stop orders in (the stock market often use the same tactic). The lesson to learn is NEVER USE STOP ORDERS, if you feel the need to leave orders in place use STOP LIMIT ORDERS only.

  8. what if the soros's of the world want to take down eth, cause their coin which they controll ETC… isnt doing so well… so theyd do anything to tank eth…. think about it who gains with these unstable trading platforms…. ETC is allready up a 150GH/s overnight in hashrate. Its hard to believe their trading platform just suddenly played up…. or were they HACKED! given the risk they take on with trading, id make sure my programmers had a kill switch built in for just such problems that would bankrupt you. So its very very hard to believe they didnt… so hacking….. or the guys who run it are crook! either way they arent telling the truth, so RUN!

  9. Hold on, Coinbase are doing RIGHT by their customers even offering full reimbursement and you think something "fishy" is going on? That makes no sense. They are under no obligation to reimburse anyone. But let's say they are doing this to avoid a lawsuit. You think banks or investment firms in the fiat market would do the same? Hell no!!! They'd line up their high-priced lawyers and either litigate till the case was dropped or get the payout for parties down to fractions of a penny on the dollar. I can't even remember the last time I saw anything like what Coinbase is doing.

  10. Dude, Coinbase is paying people back for their losses with money out of their own pocket. Young fella, you have to realize that Coinbase is still in its infancy phase. Technology always has hiccups while it evolves. There's already programs that will make these huge sell offs more efficient so that it will barely affect the market price. Look at the bigger picture. I believe that Coinbase will be the largest cryptocurrency "bank" in the United States and potentially the world. Also, Poloniex has suspended its ethereum deposit's and withdrawl's so that leads me to believe that the core of the issue is with ethereum. It is my opinion that ethereum's price has far outpaced itself compared to the adoption of the technology. This ICO madness is a primary reason that the price has risen so dramatically. So, let's give the infant exchanges some slack while they continue to develop and improve.

  11. You should learn more about how markets and exchanges work before leveling baseless accusations against people. Someone WOULD sell in this manner if they were trying to run stops in order to buy more at insanely cheap prices. It's a tried and true tactic in exchange traded products. THAT is what happened here. Coin Base was not the thief. This was orchestrated externally.

  12. What if that 90K+ ETH that was sold is a small chunk of the person's/group's wealth? It could be that they have reason to believe doing this is their best option, and it's possible that we'll see other such events in other exchanges in the near future. They could also be trying to force a retracement / market correction for ETH which will be healthier for it and make them even wealthier on the long run. Just trying to look through the eyes of a whale, if what's being said is true. It seems quite possible, just sayin'.

  13. I hold all my cryptos in private wallets. I got that idea from Bix Weir. These exchanges possibly just hold numbers and nothing on the blockchain. Why should I trust them, I sometimes don't even trust myself.

  14. I think this is very fishy. It's prob someone related to coinbase. Coinbase probably balanced their books and saw that it sold more ethereum than they had and to not be in the whole they orchestrated this

  15. Blythe Masters is a former executive officer at Morgan Chase bank. she is credited with creating CDS credit default swaps which are used to fraud and manipulate markets. she also has been linked to the overtly manipulated precious metals market. she left the bank a few years ago and got involved in crypto currencies. Ethereum being the most prominent one. JP morgan is also largely involved in Ethereum amd JP Morgan are known to be the biggest crooks and manipulators in the precious metals markets. and so here we have issues like flash crashes with ethereum. well take a good look at who created and is running this enterprise. . . .

  16. i feel the same way, i was on coinbase and gdax when it happen though i was just watching i was not trading, i actually witnessed it and it was crazy, my heart just dropped i knew shyt just got really bad for some people

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