Coinbase Custody Is Officially Open for Business

Post by xiphias » Mon, Jul 02, 2018, 6:54 PM UTC

yohann305 wrote: post #2

Not sure if this is related or not, but Coinbase's cryptocurrencies of choice (Bitcoin, Ethereum and Litecoin) just got a huge price bump in the past 2 hours which makes total sense because if this "Coinbase Custody" system is adopted by businesses and institutions, huge amount of money will be poured into these cryptocurrencies which will dwarf the current price. Am I missing something or it makes sense?

Post by bdamm » Mon, Jul 02, 2018, 6:57 PM UTC

jeremyt wrote: post #10

briatx wrote: post #6

Earlier quoted context omitted.

Institutions want investments that confer actual rights, something which these cryptocurrencies do not do. If you are expecting a large influx of institutional investment money, I expect you will be disappointed.

That’s not true. For example, owning bitcoin gives you property rights.

Post by wmf » Mon, Jul 02, 2018, 7:03 PM UTC

robertAngst wrote: post #12

wmf wrote: post #8

Earlier quoted context omitted.

I think of Coinbase as "cryptocurrency for people who don't believe in cryptocurrency" so it's not surprising from that perspective.

Please. Coinbase has kept my bitcoin safe since 2011. They also have free payments to friends with their email + shift card. Yes their customer service sucks, but they have provided tens of thousands of dollars in value to me.

Post by wmf » Mon, Jul 02, 2018, 7:06 PM UTC

gremlinsinc wrote: post #14

This is the most poorly named venture, there's a huge political battle going on about immigrants and custody of their children at the border, custody itself usually goes hand in hand with 'battle'. Having worked with foster children, trying to adopt, when they went back to a relative, and we lost custody it was painful. Custody to MANY MANY people in America has VERY negative connotations.

Post by gremlinsinc » Mon, Jul 02, 2018, 7:08 PM UTC

wmf wrote: post #17

gremlinsinc wrote: post #14

This is the most poorly named venture, there's a huge political battle going on about immigrants and custody of their children at the border, custody itself usually goes hand in hand with 'battle'. Having worked with foster children, trying to adopt, when they went back to a relative, and we lost custody it was painful. Custody to MANY MANY people in America has VERY negative connotations.

The concept of financial custody goes back hundreds of years (although I realize most HN readers have probably never heard of it); it doesn't make sense to abandon that terminology over a short-lived political crisis.