The news in town now is that Coinbase Pro has on Friday 2nd November 2019, announced its decision to list the Basic Attention Token (BAT), however, there has been series of condemnation on its decision to list BAT while forgetting Ripple’s XRP.
Decision To List Basic Attention Token
In an update by the platform, after 1pm PT on Friday, BAT users are enjoined to start sending in their tokens. However, Coinbase Pro says it will first accept deposits for at least 12 hours before beginning trading.
The moment there is sufficient liquidity, BAT/USDC order book will start immediately. While nearly all jurisdictions will have access to the trading, New York have been denied the initial trading.
Dan Elitzer Queues Behind Ripple’s XRP
The first to indirectly raise the point was Dan Elitzer, Blockchain and Distributed Web Portfolio Lead at IDEO, who said “Coinbase’s lawyers are comfortable with listing digital Chuck-E-Cheese tokens. The Howey Test is clearly out the window.”
He questioned Coinbase on its decision to list BAT while intentionally jettisoning XRP.
He said: “But seriously, if you’re willing to list BAT, why not XRP? I’m about as far from a Ripple fanboy as it gets, but I figured the regulatory murkiness was the main impediment.”
Raging Condemnations of Basic Attention Token From DogeCoin Founder, Jackson Palmer.
Crypto Expert, Jackson Plamer, also berated the decision by Coinbase Pro to list the Basic Attention Token. The condemnations, according to critics, evolved from the fact that BAT is seen as a centralized currency.
Jackson said he has not spoken to a single publisher that praises BAT.
He said: “I haven’t spoken to a single publisher or fellow content creator who thinks the BAT system works well. Brave could have used BTC or ETH natively, the BAT token itself is useless.”
He added that, “I don’t think a lot of people realize this – but as a publisher/creator, you actually can’t directly receive BAT into a wallet where you hold the private keys. You are literally *forced* to use a custodial third-party company called Uphold. Brave/BAT is not decentralized at all.”
“Uphold then in turn forces you to use broken 2FA through SMS/Authy instead of industry standard TOTP and KYC/AMLs you to get access to your funds. In my opinion, the entire Brave/BAT situation is a farce that should be replaced with a Metamask-like Chrome plugin and ETH natively.”
BAT Or XRP
Earlier, Coinbase listed BAT as one of the cryptocurrencies it intends listing. Surprisingly, it did not list XRP among the digital currencies it wants on Coinbase. This has been creating lots of uproar owing to the potentials and the market cap of XRP. Meanwhile, it is not clear if Coinbase won’t list Ripple’s XRP in the future.
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