Live data from Hacker News

Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

bloomberg.com

141–150 of 233 posts

Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#141
post #64

Earlier quoted context omitted.

Cryptocurrency is just going to converge on existing financial ecosystems and regulation. Blockchain can't fight sovereignty.

Monero and ZCash are attempting to do exactly that. Yes, obviously nonrepudiable ledger schemes are natural allies with governments. But not all cryptocurrencies are the same.

>Monero and ZCash are attempting to do exactly that.

Which is a great flag to never trust any major service's Monero and ZCash offerings.

Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#142
post #108

Earlier quoted context omitted.

Their audit was a couple months ago, but showed 1-1 backing at that time. Do you believe that was falsified?

That was not an audit. That was a memo. They have yet to release an actual legal audit, by an official auditing company.

From a NYC law office wasn't it? You believe that was falsified? It could be, sure, I just haven't seen any proof.

Seems like no amount of verification will ever be enough for a good chunk of the crypto community. The scars of Mt Gox and BFX socialized loss are too deep.

The market seems to think otherwise, you can unload your tether for $1.02 most days if you want.

Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#143
post #92
post #86

Earlier quoted context omitted.

You don't want to store your private key unencrypted on a computer ever. If someone gets a hold of a private key, they control all the bitcoin under that address. However they acquire the private key doesn't matter.

Thanks! Reason Im asking is first ive Never traded btc and second I have friends who started and I can imagine they know anything about crypto, private keys, secrets etc. I might need to point this out to them if they continue with this.

Most crypto traders don't even hold their own bitcoin. The exchange holds it for them.

Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#144

Until the situation with bitfinex pumping billions of unbacked tether into the ecosystem is resolved, doing anything involving bitcoin right now is insane. They’ve released almost $200 million worth of tether in the last day .

Can you provide a source for this? Is there an easy way to view the transactions that create new USDT? My searches are just turning up old Reddit posts and news articles supported by imgur screenshots.

edit: This seems to show that $180 million was issued in the last 3 days: http://omniexplorer.info/lookupadd.aspx?address=3MbYQMMmSkC3...

Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#145
Coinbase de-anonymizes bitcoin users, taking away a big bitcoin feature. You'll notice how they also don't disclose transactional versus speculation ratios. That's because Coinbase is largely a speculation platform. I have no problem with speculation, but the big lie that's being told about Bitcoin is that people are using it buy groceries, and it just isn't true.

Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#146
post #132
post #112

Earlier quoted context omitted.

Did you end up getting your coins from Coinbase?

In that particular case, no.

Well now I'm worried. I also bought a tiny amount of ETH and BTC which is still in my account but I'm really worried about getting the funds out, even if it's just a refund of my original USD.

Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#147
post #8

Coinbase should solve it's coinbase trust issue. I bought a small amount of litecoin almost 2 weeks ago, i'm well past my "delivery by" date, my funds left my bank account over 10 days ago, yet I still don't have my coins in my account.

I have similar experience recently. Tx on T+3 day got cleared but a T-day tx is still pending.

Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#148

I've been trying to log into my account for over 3 weeks with no response from Coinbase. They need to handle their own support issue better if they want consumer trust.

I had a similar and frustrating issue where my 2 factor auth was re-enabled after I manually disabled when I knew I was giving up my phone. They eventually helped, but it took longer than I would like.

Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#149
post #146
post #132

Earlier quoted context omitted.

In that particular case, no.

Well now I'm worried. I also bought a tiny amount of ETH and BTC which is still in my account but I'm really worried about getting the funds out, even if it's just a refund of my original USD.

I didn't come here to spread doubt, just to +1 with my experience. I have had other transactions with them go okay, but when this one went wrong I realized how absolutely abysmal their support is.

They stole my money and I'm being downvoted for it, ha!

Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#150
post #8

Coinbase should solve it's coinbase trust issue. I bought a small amount of litecoin almost 2 weeks ago, i'm well past my "delivery by" date, my funds left my bank account over 10 days ago, yet I still don't have my coins in my account.

I had a situation where the coin balance was displayed as 0.0, but I could trade / withdraw by typing in the number I was supposed to have.
Post reply on HN