Coinbase Called Out on Twitter for Working with IRS and DEA - page 2.

Slow death

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Quote from: Daniel91 on June 11, 2020, 06:18:19 AM

What do you think?

you must have a bank account and you undoubtedly know that anything private and needs a license issued by the government and needs to operate in accordance with the laws established by the government the owner of the private thing will do anything to please the government and its business will continue to operate well without any problem. This is not something new and around the world Is how things work

Quote from: Daniel91 on June 11, 2020, 06:18:19 AM

I am really disappointed with this development and I hope others will not follow the example of Coinbase.

if other exchanges are private, have a license and need to operate according to government laws, of course they will do the same thing that coinbase did

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Quote from: Baofeng on June 11, 2020, 07:20:51 AM

There's one Twitter poll by crypto analyst/trader John Roger about this issue:

https://i.imgur.com/pmUsxll.png

https://twitter.com/Josh_Rager/status/1269376636467777538

And obviously, majority didn't like it, as 66% voted that they are more willing to delete their Coinbase account.

This is the official documents from IRS:

Code:

https://govtribe.com/opportunity/federal-contract-opportunity/coinbase-analytics-web-subscription-5000090561?__cf_chl_captcha_tk__=a884b67ea12982bc14652b83e3e0466dd3624365-1591877697-0-AfqJvXaPWpu_UWMeI-kkxMl_pZMHtI2s4y-y52Zxfvw8C10W6yE2Cgvs5ox07oH6wvPZL4jx9EoG3y9aBb9MLmpHWptj_4P0lE_6IgD1n1U5Ev-FwPuPeviEgoU5osvt-D4gvEIrefypGe7Uy8RRAsb6vmP8W2Z-4yyrSRRw81qrIA4k0Qw4sXnkv8ApYmhLK8NiNdca2kRpxDGN5a-5T2Ou6wvgg-L_ZTb5yZCGL4CENbsgTm1ELJG9jRFQ_80ApJTC5YmUG_Hg-eK4dFps-b7BaLqRHH8RtRff7Mdhs4UVsADJuP6u1eusPt1rp9QnHFj327sLQJgaVCHSlJ8K_-eFGZNCmU77pKy4jPSaEKMyNhI0ibcZN5XXLa8J7b4KbAxNForCog7M7N3WiRYI_UezWE2lYvN5DcF0eqJOWRTkKKYu6Cqx6kF1SolBJ7xTvcoGVt4kGbaLDdkBZFC0oFcCWSt6CnfttiCIQK4a7cxtBMUQBmjAiiXd_mg3l29LdKWbU4RUqO69qU52lDh0Q6YXtTRzMaLaZQylsTG7khB5-dw7nxhoovr2wXJ7azVoi_s5bGjZ0rBlvI-96OoES6G-fAx5kCbZgNLfRIIMzXJC[/quote]

Fortunately people have been pulling out funds since the June 1st due to the outage. And now this; Coinbase is finally getting the taste of their own medicine: https://cointelegraph.com/news/users-punish-coinbase-for-outage-by-withdrawing-record-amount-of-btc

Lucius

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Quote from: Daniel91 on June 11, 2020, 06:18:19 AM

I just came across this shocking news:

We already have a thread on that topic -> Coinbase the most anti-Bitcoin organisation. Make #DeleteCoinbase great again.

And in that regard, I can only ask a question to anyone who thinks it is shocking - is there anything strange in the USA, a country where people are still being killed for the color of their skin? Let no one be shocked one day if Coinbase announces that all funds of all users have been frozen due to suspicion of terrorism, money laundering, undermining of financial sovereignty or something similar.

Yet perhaps the recent news combined with a very frequent outage has resulted in the withdrawal of record amounts of BTC from this exchange. Only time will tell if this is just an immediate reaction, or users will start moving their funds on an even larger scale.

Users Punish Coinbase for Outage by Withdrawing Record Amount of BTC

#DeleteCoinbase

Baofeng

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There's one Twitter poll by crypto analyst/trader John Roger about this issue:

https://twitter.com/Josh_Rager/status/1269376636467777538

And obviously, majority didn't like it, as 66% voted that they are more willing to delete their Coinbase account.

This is the official documents from IRS:

Code:

https://govtribe.com/opportunity/federal-contract-opportunity/coinbase-analytics-web-subscription-5000090561?__cf_chl_captcha_tk__=a884b67ea12982bc14652b83e3e0466dd3624365-1591877697-0-AfqJvXaPWpu_UWMeI-kkxMl_pZMHtI2s4y-y52Zxfvw8C10W6yE2Cgvs5ox07oH6wvPZL4jx9EoG3y9aBb9MLmpHWptj_4P0lE_6IgD1n1U5Ev-FwPuPeviEgoU5osvt-D4gvEIrefypGe7Uy8RRAsb6vmP8W2Z-4yyrSRRw81qrIA4k0Qw4sXnkv8ApYmhLK8NiNdca2kRpxDGN5a-5T2Ou6wvgg-L_ZTb5yZCGL4CENbsgTm1ELJG9jRFQ_80ApJTC5YmUG_Hg-eK4dFps-b7BaLqRHH8RtRff7Mdhs4UVsADJuP6u1eusPt1rp9QnHFj327sLQJgaVCHSlJ8K_-eFGZNCmU77pKy4jPSaEKMyNhI0ibcZN5XXLa8J7b4KbAxNForCog7M7N3WiRYI_UezWE2lYvN5DcF0eqJOWRTkKKYu6Cqx6kF1SolBJ7xTvcoGVt4kGbaLDdkBZFC0oFcCWSt6CnfttiCIQK4a7cxtBMUQBmjAiiXd_mg3l29LdKWbU4RUqO69qU52lDh0Q6YXtTRzMaLaZQylsTG7khB5-dw7nxhoovr2wXJ7azVoi_s5bGjZ0rBlvI-96OoES6G-fAx5kCbZgNLfRIIMzXJC[/quote]

mk4

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Quote from: Maus0728 on June 11, 2020, 06:32:38 AM

As far as I know, even in the past, using coinbase or any exchange/ custodial wallet isn't a safe place to store bitcoin or any other altcoins as they are taking away your power to use bitcoin independently. It is definitely defeating the purpose of having a financial sovereignty at the first place.

Also, I fear that at some point they are going to tax cryptocurrency holders Huh

This is actually far worse than having no control over your funds. Having no self-custody of your funds on exchanges is understandable as you'd need to make that sacrifice(albeit temporarily) to actually easily buy and sell coins on exchanges. Actually working with the authorities though? That's pretty much them throwing their users under the bus; regardless if they intentionally wanted to work with the authorities, or if they were just forced to cooperate.

Quite unfortunate for a platform that has had a really big impact in Bitcoin's adoption. But I guess as Coinbase grew bigger, it became inevitable. Honestly, expect the same with the beloved big exchanges like Binance. It's mostly just going to be a matter of when.

Maus0728

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As far as I know, even in the past, using coinbase or any exchange/ custodial wallet isn't a safe place to store bitcoin or any other altcoins as they are taking away your power to use bitcoin independently. It is definitely defeating the purpose of having a financial sovereignty at the first place. It is exponentially better to create your own wallet with seed phrase written on a piece of paper rather than entrusting your coins to a "third party"

Also, I fear that at some point they are going to tax cryptocurrency holders Huh

Daniel91

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I just came across this shocking news:
A recent Tweet by Samson Mow (@Excellion) suggested that Coinbase isn’t a safe place to store Bitcoin. Specifically, Mow suggested that the company would be the first to comply with a 1933-style confiscation demand by the federal government.
I think Coinbase is no longer a good place to hold bitcoin.
What do you think?
I am really disappointed with this development and I hope others will not follow the example of Coinbase.
Source: https://beincrypto.com/coinbase-called-out-on-twitter-for-working-with-irs-and-dea/

Topic: Coinbase Called Out on Twitter for Working with IRS and DEA - page 2. (Read 658 times)