Topic: Coinbase the most anti-Bitcoin organisation. Make #DeleteCoinbase great again - page 4. (Read 2342 times)

Most US companies, or rather most companies having US citizens as customers, are forced to disclose some kind of data to the US government when asked with a by law request.
Coinbase instead has made the "disclose your customer data" their core business, masked behind the "crypto exchange" business.

Isn't this what many US companies do? Like Facebook and such? In part it's the very own framework that the US forces companies to work on. Not excusing them, it shouldn't be done. Look how hard apple has fought for their users privacy for example, it's a good way to deal with the government, better than coinbase's

For sure it is profitable, it has to be.
I will tell you more: as Coinbase is the revenue scheme used to “cover” the real business, I.e. the use of user data to sell chain analysis services, Coinbase will be really keen on showing big profitability on that particular sector of activity.

This is true, not even considering the trade off between short term and long term profitability.

Coinbase just does as it is profitable for them, they do not take into account any crypto canons.

There is a lot of organizations that is against on crypto currency and they are saying that crypto currency will only make the world financial system more complicated and will make those peoples that is innocent on using different modern devices a late adaptor. Even the different governments are against crypto currency since it is not paying high enough taxes so the mass adaptation will be having a hard time to occur so we need to support crypto currency all we can.

Apparently a good news, but another demonstration on how Coinbase is acting toward their clients.

Coinbase Exchange Explain How They Saved Their Users From The Infamous Twitter Hack


No matter how legit were the proposed action: this was a centralised censorship of the result of a delibeerate action of a user.
This is the smoking gun evidence those bitcoins aren't yours: they belong to Coinbase, which can use them as they prefer.

I doubt that people would really be so concerned if Coinbase were merely trying to be a fully compliant exchange - so long as they were being upfront with their users.  Coinbase does a lot of tricky things by either saying or implying that they are doing one thing while they end up doing other things, and sure their ongoing seemingly passive aggressive (and other times direct) hostility towards bitcoin does not win them friends, either.

Gemini seems a bit more straight-forward, including that they strive to do things by the books and attempting to get involved in higher level financial matters to be an officially accepted exchange for wallstreet, even though they seem to be adding a few shitcoins too, including linking their stable coin to ethereum.. but Gemini does not seem to receive as many criticisms from the regular bitcoiners, at least, not historically.

Even if the deal should fall through, I am sure that a lot of people having concerns with Coinbase on this move have either not have anything to do with Coinbase or even moved on from them a long time ago since when it has been established that they are pro government and I won't even blame them because it's simply business. IRS on the other hand making this move really should be commended because it shows they are moving with the trend of things and blinded with how things were done in the past.

I know that some people who are deeply invested in crypto and at the same time want to do right by government and its agencies won't have any issue with this move. Quite a number of people wants to trade, make returns and pay their dues to government without any concerns or guilty of being involved in any shady activities would appreciate this move.

I did not have an account with them in early 2017 and I did my Bcash split using Electron Cash, wasn't even aware of that shady behavior on their part.

They sayd they would support BSV split so I went with them as I wanted to get my SV as soon as I could without having to play around with software that looked even more shady than coinbase's ticker freezing. The fork wasn't done as it should have been because I remember that it took them many weeks to actually credit BSV and then soon after they delisted it, so I had to move my SV to another exchange to finally get rid of it.

I had some Bcash on Yobit at the same time and they forked much faster than coinbase despite their somewhat bad reputation.


Thanks, I'll do that

I have to agree with @o_e_l_e_o here.
I have been discussing privacy issues with a lot of people, both online and in real life. The absolute lack of consciousness on why privacy is important has always stroked me.
The obnoxious “ I have nothing to hide” Is of course a non-sense. It is like saying: “I don’t care about free speech as I haven’t anything to tell”.
Well, I bet that those rights are understood only when those are gone.

I suggest a nice read about privacy:

A Treatise On Bitcoin And Privacy Part 1: A Match Made In The Whitepaper


A Treatise On Bitcoin And Privacy Part 2: Don’t Be Misled By Red Herrings

Everyone should avoid coinbase. Its my best tip for newcomers. There are a lot of places where you can my buy crypto from your card even in USA. For example, soon ownr wallet wil receive state permits for this

https://www.theblockcrypto.com/post/71261/coinbase-is-selling-blockchain-analytics-software-to-the-us-secret-service

There's no privacy in centralized services. Every of your info goes directly to US secret services if you used Coinbase. That's true for any financial institution. Coinbase furthermore profits from it's analytic software and user data as they sell it for profit. This could be similar for other Exchanges differing just on which secret organization they sell to.

This is why centralization of exchanges is bad, what coinbase does by working with the IRS and DEA is evidence of centralized exchanges
can be bad for Bitcoin users. Therefore the popularity of coinbase decreases, since knowing what coinbase is doing.I decided to move all
of my assets in Coinbase. And I deleted all of my data that was on Coinbase, then I didn't will use coinbase forever. #DeleteCoinbase

Revolut is definitely the most odious route so far and I'll bet others are eyeing it closely.

I wonder whether doing something similar has been discussed at Coinbase. It would certainly cure a lot of head aches for them. Most here of course would squeak with indignation but I wonder what the majority of their customers would think.

Perhaps they'll further differentiate Coinbase, Coinbase Pro and the custodial side of things.

I'd rather still have a little hope that it's not that bad yet.

Well, they have nothing to hide, do they?

I always thought that's why Bitcoin was so rejected by most governments and companies at first while now they seem to be the friendliest. The dots don't connect anymore, it's like they've all magically changed and suddenly want to support us.

It started to be obvious that this is their current strategy of fighting Bitcoin: taking it over in terms of privacy and financial freedom, and people don't give a damn and still look up to so-called "partnerships" with PayPal and so on as if we're heading towards a good path.

My friends are "buying" Bitcoin through Revolut now, they say it's much easier than having to learn everything about wallet creation and how the system works - and this is how the average person thinks.

All of the above only further confirms the fear I expressed months ago in a quite desperate attempt to open at least a few minds. A quote from my post that perfectly fits this thread:

I think you are being incredibly generous. I'd put that figure at well over 90%. Most people do not care about their privacy, like, at all. I know there are plenty of us here who do, but as bitcoin expands and more and more people get involved, then the proportion of us who take privacy seriously is continuously diluted. If people are willing to have Google or Amazon record every word they say, then they aren't going to think twice about Coinbase sticking their noses in to their financial history.

Yup. And it's not just exchanges either, although pretty much every centralized exchange is becoming more like a fiat bank as time goes on. The biggest payment processor - BitPay - is also thoroughly anti-bitcoin, pro-KYC, privacy invading, etc. The most commonly used wallets - Blockchain.com, Coinbase, Coinomi, Trust wallet, coins.ph - are either custodial, closed source, or both. Even the majority of altcoins in existence are centralized scams.

Unfortunately, where there is money to be made, principles and ideals rapidly get thrown to the wayside.

The typical problem humans have when they are able to build something big: hunger for control and power.

I am having the same concerns regarding Binance as well. The fact that CZ is expanding so widely and at such a fast pace puts his entire holding and true interest under a big question mark for me: What happens if the government wants give him a very good offer in the exchange of everything he holds about his customers?

And this is not even the worst part: if there was to be an "internet war" between choosing Coinbase/Binance and Bisq to survive and evolve, I'd bet +60% of the people would choose the former. It's one of the first names you hear about when you create a wallet. I had a Coinbase wallet with a balance on it back in 2013-2014 and if I now try entering my wallet they forcefully ask me for the nonsense KYC - as if that'd prove the fact that the guy in my pictures is the same guy who created that wallet 7 years ago.

This isn't something very new - Amazon has filed a patent more than half a decade ago to help with the identification of BTC users. These news come slowly every now and then, but if you take a piece of paper and put all these things on it you'd find out probably two thirds of the entire currently existing Blockchain industry is against Bitcoin's fundamental ideas.

Once you delete your account, you should also email them and request that they delete all data that they hold on you. Their compliance with this will vary depending on where you live, and they will almost certainly keep some data for a number of years for "compliance" reasons, but no reason to let them hold on to everything indefinitely.

It's OK though - they performed a thorough investigation in to themselves and thankfully found themselves to be innocent of any wrongdoing. I'll bet they were nervous while they were investigating themselves about what they might find out about their own conduct, but thankfully, that's all cleared up. Nothing to see here. 

From supporting SegWit2x, to spamming the network and taking years to implement actual SegWit or transaction batching, Coinbase are through and through anti-bitcoin in addition to being massively anti-privacy.

I'm also once a user of coinbase before and the last time I use coinbase during the 2017 ATH which was also the year they tight their KYC requirement/process, my aim was to sell my BTC at a high price but due to coinbase KYC unable to do it until the market correction and for this reason I choose not to use it.
Nevertheless, the KYC and the centralized issue is not the faulty of coinbase but the government of the country where coinbase operate.

Maybe I do not sufficiently understand your assertion that you would have thought that Coinbase provided much if any kind of security or confidence in terms of potentially splitting shitcoins, such as Bcash SV, especially given how they had approached the Bcash forkening in the fall of 2017... at first (around early August 2017) they said that they were not going to give the Bcash, and then (around October 2017) they said that they were going to give credit for the forked coins (ones held on Coinbase as of August 1, 2017) sometime after December 31, 2017.  Then they ended up doing a surprise issuance of the Bcash on around December 20, 2017 and also fucked around with freezing the Bcash ticker price at around $9k while "innocently" proclaiming that the ticker just "coincidentally" got stuck there.  That was some truly manipulative  and shady shit that should have caused any potential coinbase customer to lose confidence in Coinbase's future treatment of forks..   Of course, if you were not aware of their bullshit and shady behavior in late 2017, as outlined above, then possibly you could have naively had confidence in their being a BIG business that should not (in theory) screw you in terms of forkenings... and even after all of their bullshit in late 2017, I recall ambiguous statements from them too, in regards to whether or not they would honor future forkenings and even their playing around with pre-announcement pumpenings of shitcoins that they might list in the future or their ongoing technical incompetence and refusal to improve aspects of their platform or their ways of performing bitcoin transactions.. so I am NOT sure how anyone can garner much if any semblance of confidence from those kinds of ongoing nonsensical crazy-ass coinbase statements and actions.. even some of the refusal of the CEO (brian armstrong) to use the word bitcoin.. hahahahaha.. ongoingly lost, distracted, perhaps incompetent and manipulative as fuck messages coming from coinbase for anyone paying any kind of attention to the matter.