Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Coinbase Cloud

coinbase.com

Post reply on HN
Print view View original

101–110 of 176 posts

Re: Coinbase Cloud

#101

Post by [deleted] »

lottin wrote: post #87
toomuchtodo wrote: post #54

Earlier quoted context omitted.

IBM and Microsoft cater to enterprises. Enterprises whose entrenched positions are challenged by decentralized systems. Centralizing a decentralized system is done either to bootstrap it (optimistic) or embrace, extend, and extinguish it (pessimistic). A corporation alone might not need a blockchain, but has no choice but to participate if that’s where the market is, and a consensus of participants (no pun intended)…

Can you please give a single example of an enterprise that is being challenged by a decentralised system?

[deleted]

Re: Coinbase Cloud

#102

Post by PKop »

programmarchy wrote: post #41
teruakohatu wrote: post #6

Didn't Microsoft Azure's blockchain platform fail? It was shutdown earlier this month [1]. How is this different and/or better? [1] https://www.siliconrepublic.com/enterprise/microsoft-azure-b...

I think Microsoft and others like IBM failed to “get it”. They tried to adopt blockchain tech without the cryptocurrency aspect, failing to realize there needs to be a built-in incentive structure for people to participate on any blockchain network. Mining, staking, and other proof / reward systems are required for any blockchain tech to get off the ground.

Agree, and this quote from the OP's link is humorous in that regard:

"While blockchain is best known for its association with cryptocurrencies, it has applications beyond this field."

This sentiment is just thrown around without evidence. Either a blockchain has an internal reward mechanism to account for the increased costs associated with it's execution or it is simply a more complicated and expensive database looking for a problem to solve...and also is likely not decentralized.

Re: Coinbase Cloud

#103

Post by _red »

westoque wrote: post #13

Isn't it ironic to use a REST API to send BTC vs say using what any cryptocurrency is intended for? To use their native APIs to transfer value. The aim of decentralization is to eliminate that third party but this puts it back. We've come full circle.

The idea "everyone should be their own bank" is a great idea, and most should endeavor to do that, but it fails often for a variety of legal and regulatory reasons.

Suppose you are a company, with a myriad of shareholders, do you: (a) Setup a crypto wallet and give Frank and Bill the keys, or (b) Outsource to reputable 3rd party.

I can tell you which your shareholders would prefer.

Re: Coinbase Cloud

#104

Post by PKop »

lottin wrote: post #87
toomuchtodo wrote: post #54

Earlier quoted context omitted.

IBM and Microsoft cater to enterprises. Enterprises whose entrenched positions are challenged by decentralized systems. Centralizing a decentralized system is done either to bootstrap it (optimistic) or embrace, extend, and extinguish it (pessimistic). A corporation alone might not need a blockchain, but has no choice but to participate if that’s where the market is, and a consensus of participants (no pun intended)…

Can you please give a single example of an enterprise that is being challenged by a decentralised system?

I would say commercial banks are on their way to being challenged by DeFi and stablecoins on Ethereum. But it is debatable how decentralized this system in its entirety is given the biggest entities are centralized custodian coins. But still.. massive disparities in yields and flexibility of moving value around at will does have enough disruptive force that banks and the Federal reserve are racing to both regulate stablecoins and push "CeFi" instiutions into registering as banks themselves, while on the other end legacy finance is moving towards adopting some of these systems themselves.

Re: Coinbase Cloud

#105

Post by arthur_sav »

NGRhodes wrote: post #89
ssss11 wrote: post #36

Given their lack of competence resolving basic user account issues, it would be a hard no from me

Agreed, I was locked out of access to my funds for months, not one human response until my complaint escalated to the Financial Ombudsman (UK), got compensation, then tried to delete my account after withdrawing all my money, raised a support ticket, then last week my account was closed with the following message: "Upon careful review, we believe your account has engaged in prohibited use in violation of our Terms of…

That's not just Coinbase. It's every neobank type app or service.

The problem is that they can't handle the large volume of users while also dealing with fraud & law compliance. So they basically have fraud detection algos that flag anything remotely suspicious with many false positives and they don't have the support staff to deal with the aftermath.

Re: Coinbase Cloud

#107

Post by Fnoord »

sillysaurusx wrote: post #46

I raised $2,200 in donations thanks to Coinbase making it easy for people to donate crypto. It sounds like they want to do the same for every aspect of a business. There’s probably a lot of value in that.

How much energy was wasted this way? Why would PayPal, IBAN, or Flattr not have worked?

Re: Coinbase Cloud

#108

Post by notyourwork »

arthur_sav wrote: post #106

Seems they forgot to write the documentation lol https://docs.cloud.coinbase.com/exchange/reference/market-fe...

Documentation was linked to here from main page: https://docs.cloud.coinbase.com/

Not sure where you found that other link but sort of embarrassing to have that publicly exposed.

Re: Coinbase Cloud

#109

Post by starclerk »

NGRhodes wrote: post #89
ssss11 wrote: post #36

Given their lack of competence resolving basic user account issues, it would be a hard no from me

Agreed, I was locked out of access to my funds for months, not one human response until my complaint escalated to the Financial Ombudsman (UK), got compensation, then tried to delete my account after withdrawing all my money, raised a support ticket, then last week my account was closed with the following message: "Upon careful review, we believe your account has engaged in prohibited use in violation of our Terms of…

I was locked out of my account for 3.5 years before they worked through the queue far enough to get to me. I stopped using Coinbase long before then though.

Re: Coinbase Cloud

#110

Post by toomuchtodo »

lottin wrote: post #87
toomuchtodo wrote: post #54

Earlier quoted context omitted.

IBM and Microsoft cater to enterprises. Enterprises whose entrenched positions are challenged by decentralized systems. Centralizing a decentralized system is done either to bootstrap it (optimistic) or embrace, extend, and extinguish it (pessimistic). A corporation alone might not need a blockchain, but has no choice but to participate if that’s where the market is, and a consensus of participants (no pun intended)…

Can you please give a single example of an enterprise that is being challenged by a decentralised system?

Clearing and settlement of securities. https://paxos.com
Post reply on HN