Quick rant from me about the growing trend and requirement to put excessive amounts of trust in Exchanges.
Business are based around consumer recognition and trust. Some of the tactics used are blatant, others are subliminal. I see a lot of subliminal tactics to gain user trust and induce a sense of complacency.
E.g.
Coinbase announcing that they will distributed Bitcoin Cash to people holding Bitcoin it's exchange at the time of the fork. After previously advising people to withdraw. It looks like a benevolent act to reward all the poor and confused souls that didn't know better. When in reality, it is really the minimum users should expect. It's to re-enforce a narrative that whatever happens in this space... "don't worry, we got you."
Likewise the growing trend for Exchanges like Poloniex and Bittrex to suspend deposits and withdrawals, while continuing to allow trading, re-enforces a mindset that it's safe to trust Exchanges. They always come good in the end, don't they?
It's important to remember the premise of cryptocurrencies and the bitcoin protocol is trustless transactions. So any trust given to thirds parties in this space should be looked at through that lens.
Just getting some thoughts off my chest before some morning exercise!
Update:
I noticed BTC/BCC volumes have been excluded on coinmarketcap
Massive arbitrage for anyone who happens to have Bitcoin Cash on Bittrex. Current Brittrex price = $750. Kraken = $570
My thoughts... Maybe it is a coincidence that those that place trust in the Exchanges (by leaving their bitcoin on them over the hardfork) have been rewarded with this profit opportunities. Whether by design or otherwise, it conveniently re-enforces the notion that trust in Exchanges can work out in your best interest. For those sitting on the sidelines, kicking themselves for having missed an opportunity to leave some coin on the Exchange and netting a profit. The question is, profit at what risk and cost?