Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues • Hacker News Board

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

#231

Post by hjjiehebebe » Sun, Dec 17, 2017, 6:39 AM UTC

spookthesunset wrote: post #197

j4ship wrote: post #155

Earlier quoted context omitted.

why did you give them so much money that you are "really worried" dont be irresponsible, its a new venture , dont put in your life savings ... just a couple of dollars , try it out if it doesnt work then at least its not something to be "really worried" about I gave them money , they gave me coin , everything worked ... maybe you made them angry and tried to do something illegal on their site so they shut your user d…

> just a couple of dollars , try it out if it doesnt work then at least its not something to be "really worried" about Could you imagine living in a world where you had to start every business relationship by only making extremely small "beta test" transactions, be it a trip to Target to opening an account at your local credit union. Like, on your first trip to Costco, you only bought a box of gum because you couldn'…

This is more like a money transmitter than a Costco. Paypal pull this shit all the time, if you want a non crypto example

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

#232

Post by Fnoord » Thu, Dec 21, 2017, 3:30 PM UTC

prepend wrote: post #139

billions wrote: post #117

Earlier quoted context omitted.

Imagine building a startup that moves 10's of millions of new users' monies each month out of US bank accounts. While other startups are just scaling page views, Coinbase is scaling money. Keep in mind that it takes just one financial loss to break trust from the entire community. Has any other bank in history scaled this fast?

Yes. Remember that online banks were once new. 10s of millions flowed through lots of banks and new services like PayPal during the dot com boom of 99/00.

At least nowadays, PayPal is a bank. Or well, has bank status in Luxembourg.

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

#233

Post by gwbas1c » Wed, Dec 27, 2017, 1:47 AM UTC

once_inc wrote: post #10

gwbas1c wrote: post #3

A good currency is fungible: It has a stable value and allows rapid exchange. Bitcoin does not meet these basic requirements. So many people forget that the original paper clearly states that Bitcoin is an experiment.

> So many people forget that the original paper clearly states that Bitcoin is an experiment. Where exactly in the white paper does it state this? I've just looked it up, and don't see any reference to Bitcoin being an experiment.

The beginning