Coinbase: The Heart of the Bitcoin Frenzy

Post by [deleted] » Thu, Dec 07, 2017, 2:00 PM UTC

TeMPOraL wrote: post #243

TAForObvReasons wrote: post #136

Earlier quoted context omitted.

Other stories: - https://news.ycombinator.com/item?id=6933360 - https://news.ycombinator.com/item?id=5427985 4 years ago they had a problem with customer service and the situation does not appear to have improved: > When it takes a public outcry on HN for a company to do their job, I no longer deal with such a company. Simple as that. I don't care if you raised $25 million - if you can't treat your users fairly, you…

>> When it takes a public outcry on HN for a company to do their job, I no longer deal with such a company. Simple as that. I don't care if you raised $25 million - if you can't treat your users fairly, you deserve neither. I wonder if that applies to Google too, the most famous company for which you need to get on the HN frontpage to actually reach someone there.

Post by pferde » Thu, Dec 07, 2017, 2:04 PM UTC

Cthulhu_ wrote: post #245

TAForObvReasons wrote: post #136

Earlier quoted context omitted.

Other stories: - https://news.ycombinator.com/item?id=6933360 - https://news.ycombinator.com/item?id=5427985 4 years ago they had a problem with customer service and the situation does not appear to have improved: > When it takes a public outcry on HN for a company to do their job, I no longer deal with such a company. Simple as that. I don't care if you raised $25 million - if you can't treat your users fairly, you…

How do you do customer service when you get 100K new users / day though?

Post by sillysaurus3 » Thu, Dec 07, 2017, 2:16 PM UTC

b1daly wrote: post #204

sillysaurus3 wrote: post #122

Earlier quoted context omitted.

And it's very hard to get anyone to take this seriously. But as far as I can tell, it's a real possibility. I had to talk some sense into a friend who was saying she was fed up with being poor and was going to put her $7k life savings into bitcoin. I told her to treat it like gold, hold it, and be very careful to keep it secure. And off Coinbase. And my advice made her hesitate, and now she missed the 100% growth ove…

Holy crap, there is a top. To realize these gains, owners of bitcoins are going to have to convert back to fiat. US dollars have a built in floor as government issued fiat, which is that they are required to pay taxes. The money supply of a country is a precious resource, and the government has a responsibility, and incentive, to maintain some level of control. Look how serious the Secret Service is about counterfeit…

Post by raducu » Thu, Dec 07, 2017, 2:16 PM UTC

Cthulhu_ wrote: post #248

shiado wrote: post #88

It is pretty funny how the original value proposition of "being your own bank" given in the bitcoin whitepaper, which is necessitated by actually possessing the private keys, has gone out the window due to convenience and a lack of understanding of the fundamental blockchain technology by speculators. Coinbase is central in these facts.

You can still be your own bank if you want, but it's much more convenient to have a centralized exchange to find other people willing to buy / sell.

Post by saalweachter » Thu, Dec 07, 2017, 2:21 PM UTC

barrkel wrote: post #120

canoebuilder wrote: post #101

Earlier quoted context omitted.

that crypto currencies are really just starting and there is a very high ceiling Starting at what? What is the value proposition that is actually in play here, for which there is some hard evidence of it's existence, other than a speculative frenzy? It's a bit galling how many people this go 'round are just outright saying "yeah, it's a ponzi, come on guys hop on! there's a high ceiling! hope you get your chair when…

If you think that some future economy will run on cryptocurrency (not totally far fetched IMO) and that currency will have network effects (I don't really see this yet, apart from deflation via speculation, which will stop eventually, it's not stable) then there's a possibility of a winner takes all outcome. But it's very easy to doubt any specific currency will be the final winner.