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Coinbase from YC to DPO

blog.ycombinator.com

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Re: Coinbase from YC to DPO

#22

Post by exdsq »

asdev wrote: post #7
Tenoke wrote: post #5

I still prefer Binance who are exposed to users via actual crypto (BNB) than Coinbase who are trying to eat the trad investors exposure and banking on their preferential treatment from US regulators. Not to mention that Binance has 9x the volume, much much more crypto and is pro-competition and lists Coin on day 1 while CB wouldn't even consider listing BNB or anything by competitors.

CB abides by regulators and doesn't list every crappy project that comes along. They're trying to bring legitimacy to crypto. Binance is the wild wild west still and BNB is a centralized useless ETH sidechain.

Agree. I was involved in integrating Rosetta with a blockchain and it was great to see their push for standardised interfaces and requirements to get listed with them.

Re: Coinbase from YC to DPO

#23

Post by purple_ferret »

Coinbase is definitely a success story in how to appeal to the masses. There were always alternatives, but coinbase always came out on top despite the high fees and poor customer service.

I think Coinbase as a publicly traded company will be very interesting to follow. Not only is it a massively cyclical industry, but the supposed point of crypto is to reducing the reliance on, and grifting from, companies like Coinbase. It's very success should be inverse to the goals of crypto, and over time, one would think the relationship can only get more fragile.

Re: Coinbase from YC to DPO

#26

Post by sneak »

asdev wrote: post #7
Tenoke wrote: post #5

I still prefer Binance who are exposed to users via actual crypto (BNB) than Coinbase who are trying to eat the trad investors exposure and banking on their preferential treatment from US regulators. Not to mention that Binance has 9x the volume, much much more crypto and is pro-competition and lists Coin on day 1 while CB wouldn't even consider listing BNB or anything by competitors.

CB abides by regulators and doesn't list every crappy project that comes along. They're trying to bring legitimacy to crypto. Binance is the wild wild west still and BNB is a centralized useless ETH sidechain.

The definition of legitimacy in cryptocurrencies is "can you send or receive this on the blockchain?"

Arbitrary gatekeeping in an attempt to avoid the regulatory banhammer is somewhat of a lame kludge, in my view.

There is a ton of value available on chains and in tokens that regulators don't like.

Re: Coinbase from YC to DPO

#27

Post by spurdoman77 »

Tenoke wrote: post #8
arcticbull wrote: post #6

Earlier quoted context omitted.

Well, Binance is, somehow, dramatically more of a fly-by-night bucket shop intentionally looking the other way to people opening multiple accounts to avoid KYC -- and they won't event tell you in which country they're domiciled. They're one of Team Tether's top partners in crime. How on earth can you believe their volume numbers haha.

>intentionally looking the other way to people opening multiple accounts to avoid KYC That's blatantly false. Many have been caught trying to circumvent via VPN or similar, it's just impossible to catch quite everyone no matter how hard you try. >which country they're domiciled. Malta?

https://coingeek.com/binance-not-licensed-to-operate-in-malt...

Binance has never been in Malta, in fact they are not located anywhere. I would be very cautious in dealing with them because to me that kind of approach to regulation doesnt sound healthy.

Re: Coinbase from YC to DPO

#28

Post by ddevault »

Bitcoin is an enormously wasteful ponzi scheme mind virus and YC should be ashamed of their involvement in it - not proud. I long for the day (which it seems may come soon!) when cryptocurrencies are outlawed and we can all move on with our lives.
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