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Coinbase: The Heart of the Bitcoin Frenzy

nytimes.com

211–220 of 355 posts

Re: Coinbase: The Heart of the Bitcoin Frenzy

#211
post #5

Earlier quoted context omitted.

> it makes any sort of future prediction extremely difficult. People will always buy $100 worth or whatever regardless of what percentage of a bitcoin that gets them.

Not exactly true. If hype goes up then more people are willing to dump more money into it. The volume and user growth are definitely related to how much hype/excitement there is.

With a flat fee they would also benefit from having more users/transactions.

Re: Coinbase: The Heart of the Bitcoin Frenzy

#212

Earlier quoted context omitted.

Short answer - I am not a fan of EOS. Long answer - I had a chance to interact with one of the founders - Daniel Larmier back in 2013/14 during his Bitshares days. My impression is that while he has all these grand ideas, he doesn't know how to follow through. Then there seemed to be a lot of nepotism during the Bitshares build. And then there is this: > What features, uses or attributes do EOS Tokens have? Can the E…

Ever been sued by the government? Want to know how not to be?

It seems that you are quite hostile to the highlight in the post.

I have never been sued by the government. I don't plan to be sued so that knowledge is useless for me.

Re: Coinbase: The Heart of the Bitcoin Frenzy

#213
post #179

Earlier quoted context omitted.

Coinbase is simply suffering from insane growth pains. I mean, come on, they are adding half a million new users per week ! Of course support isn't going to be very responsive.

Funny how they are coping with signing up users just fine. Takes about 5 mins for somebody to check your ID and create an account. Support however seems not to be a priority to them.

Don't you think that part is automated?

Re: Coinbase: The Heart of the Bitcoin Frenzy

#214
post #209
post #139

Unless you buy with credit cards, good luck making bank transfers work on Coinbase. EDIT: Downvoting with no explanation will not change my experience. I believe that cryptocurrencies are the future but having to wait weeks for a simple bank transfer only to find out that your funds will be returned with no explanation why apart from a cryptic message that has something to do with your bank account name not matching…

Never heard anyone have that problem. You're in minority so please don't speak like this is some major problem.

Do you work for Coinbase?

Re: Coinbase: The Heart of the Bitcoin Frenzy

#215

Earlier quoted context omitted.

Funny how they are coping with signing up users just fine. Takes about 5 mins for somebody to check your ID and create an account. Support however seems not to be a priority to them.

Don't you think that part is automated?

How can you automate the checking of an ID?

Re: Coinbase: The Heart of the Bitcoin Frenzy

#216
post #45

Earlier quoted context omitted.

I work at Coinbase. If you want the inside scoop: "game room" is a bit of a misnomer for that room. It's a large room with a big theater screen. All day it's full of meetings and presentations. There are a bunch of games on shelves as well, and some people play them after hours.

Btw, do you have any engineers capable of working to upgrade the platform to use SegWit? I find it weird that Brian advertises open positions like there's nobody there capable of doing it.

I wouldn't take any job ad copy as disparaging to the current team.

Re: Coinbase: The Heart of the Bitcoin Frenzy

#217

Earlier quoted context omitted.

> Increasing block size results in longer validation times as well as slower block propagation Processing more transactions requires more resources. That's not a bad thing. One might note that currently Bitcoin Cash is usable as a medium of exchange, whereas Bitcoin is not. They can reduce the bandwidth requirements by implementing e.g. compact blocks.

Feel free to implement your code changes on the alt of your choice. Bitcoin node users remain unaffected. It's over right? The whole attempt to sideline the bitcoin development team failed, and now that uncertainty has been removed, the price of bitcoin is skyrocketing. That's because bitcoin is valuable for what it is, not for unproven use-cases that decrease bitcoin security. We will get to those use-cases through…

The Bitcoin community I once knew is truly dead, if making purchases is an "unproven use-case" and the desire to do so on other chains is met with such hostility.

Fortunately among the other cryptocurrencies are communities that have not yet been compromised by greed.

Re: Coinbase: The Heart of the Bitcoin Frenzy

#218

Earlier quoted context omitted.

Brian Armstrong has quite the history of being on the wrong side of every argument to do with safe and scalable crypto implementation. He has been a champion of centralization and attacks on bitcoin governance. He was a vocal proponent of four out of the five failed fork attempts of bitcoin over the past couple of years. He, and coinbase investors, are very lucky they had people like Charlie Lee managing the technica…

I’m not sure if you’re willfully misinterpreting what happened or just unware, but the debate over how to scale bitcoin (basically, on-chain vs off-chain) is know being played out with Bitcoin vs Bitcoin Cash. And it’s looking like big blocks is actually a solution for scalability (lower fees, faster transactions), at least in the short term. (For those not aware, Bitcoin Cash is a fork of Bitcoin that removes segwit…

> so far this has proven to greatly reduce network congestion.

their main stroke of genius was not having any transactions on their chain

Re: Coinbase: The Heart of the Bitcoin Frenzy

#219

What I find most interesting about Coinbase is that they quote your selling exchange rate the moment you place a sell order. If I click "sell" right now, they lock in the $13,000 exchange rate or whatever it is. The amount that shows up in my bank days later is exactly what they quoted at the time I placed the sell order. When people start selling off, this policy is either going to drive them to bankruptcy or create…

You must have never had a transaction cancelled for being ‘too risky’. Happened a lot for me in the past.

Can you explain more about what happened?

Re: Coinbase: The Heart of the Bitcoin Frenzy

#220

Earlier quoted context omitted.

Four years ago a user had an issue that took over three days to rectify. Clearly the company is a scam.

Now it takes ten days. A 3x improvement!

Again, according to one user, who is also claiming to be transferring fractions of a penny.
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