First they regularly engage in suspicious behavior with closing when Bitcoin's on the rise (at the very least it means they don't care enough about their customers to make necessary upgrades and ensure that such sudden interruptions don't happen again). Now this idea of selling software to the government...
I am just happy that a few years ago when I was just exploring my first exchanges I registered and wanted to use Coinbase, but turned out it didn't allow users from my country to use it (I just checked, it still doesn't). So I've never used it, and never will.
Topic: Coinbase the most anti-Bitcoin organisation. Make #DeleteCoinbase great again - page 6. (Read 2339 times)
June 06, 2020, 09:57:27 AM
June 06, 2020, 09:48:01 AM
I thought the IRS already had Chainalysis on their books -- via the FBI? Or is Coinbase developing something that actually works (if you believe the Chainalysis whistleblower who basically said their software actually can't even work on simple CoinJoin tech).
Not sure who would win if Coinbase really entered into a competition to find the most anti-Bitcoin organisation ever, I've never had any love for them, but since I'm neither American nor British (mainly Coinbase customers), I've never had the opportunity to profess my love for it;)
Not sure who would win if Coinbase really entered into a competition to find the most anti-Bitcoin organisation ever, I've never had any love for them, but since I'm neither American nor British (mainly Coinbase customers), I've never had the opportunity to profess my love for it;)
June 06, 2020, 08:54:27 AM
I've used coinbase and I've had a positive experience so far. Using coinbase pro the fees are negligible and I've gotten some crumbs with coinbase earn.
But I'm glad I've read through this thread here, and I'll dig a lot deeper into the subject.
I've always been wary about any company that asks for KYC. I remember it was the same with Mt.Gox. Giving them my name is the same thing as giving the government my name and history.
That's why I never traded in a way that would incur taxes using coinbase. I know they'll sell me out. I don't want to discourage anyone from using coinbase responsibly however.
If you have dollar tokens in your centralized bank cartel account, it may still be beneficial to trade them for actual money using coinbase to get the bitcoin to your possession. Then if you want privacy you just have to jump through extra steps.
Or not do business with coinbase. It's still your keys your bitcoin at the end of the day, whether you get it from coinbase or from someone off the street or a bitcoin atm.
Don't forget that for bigger amounts bitcoin atms also have KYC requirements.
But I'm glad I've read through this thread here, and I'll dig a lot deeper into the subject.
I've always been wary about any company that asks for KYC. I remember it was the same with Mt.Gox. Giving them my name is the same thing as giving the government my name and history.
That's why I never traded in a way that would incur taxes using coinbase. I know they'll sell me out. I don't want to discourage anyone from using coinbase responsibly however.
If you have dollar tokens in your centralized bank cartel account, it may still be beneficial to trade them for actual money using coinbase to get the bitcoin to your possession. Then if you want privacy you just have to jump through extra steps.
Or not do business with coinbase. It's still your keys your bitcoin at the end of the day, whether you get it from coinbase or from someone off the street or a bitcoin atm.
Don't forget that for bigger amounts bitcoin atms also have KYC requirements.
June 06, 2020, 08:22:40 AM
Coinbase is a big point of centralization, they like to ban accs without reason and now they want to track everything. Too many reasons to NOT use it
June 06, 2020, 08:17:49 AM
Coinbase is working against the slogan of cryptocurrency If they sell user information and analysis software to a government agency, Then all the data of the users will be provided to the government. Everyone should stop using Coinbase to protect their privacy. #deletecoinbase needs to be trending again.
June 06, 2020, 05:26:29 AM
Though coinbase was the first wallet for me and the first bitcoin I ever got was from bitcoin, coinbase is no longer a recommended option by me even for a newbie. Even for a simple user, they charge a huge transaction fees while sends the actual transaction in bulk with a minimum fees taking hours to get confirmation.
Using third party wallet always would have privacy issues. They need to profit from users as well comply with the government as a profit oriented business.
Using third party wallet always would have privacy issues. They need to profit from users as well comply with the government as a profit oriented business.
June 06, 2020, 05:20:30 AM
Coinbase is too simple to use for the noobs so I don’t think they’re ever going to get truly boycotted en masse.
Brian Armstrong is an asshole but assholes rule the world.
Brian Armstrong is an asshole but assholes rule the world.
I couldn’t say it better myself either, exactly the way things are realistically set up. Those masses you mention have no clear sense of decentralization or of protecting their privacy, therefore, they will continue to use Coinbase no matter what anyone does about their data. I personally have never had an account there, and I really don’t need to open one, luckily I have local exchange offices that allow me to buy or sell crypto without worrying too much about privacy.
When it comes to the USA, no one should be surprised that the authorities want to penetrate all companies, especially those dealing with finance. The fight against terror, which intensified after the attack in NY, actually gave the authorities complete control over literally everything. Someone correct me if I’m wrong, but is there any privacy in the USA at all?
In fact, I am more concerned about what has been happening in the background since 2013 (by Snowden), because we know for sure that even then there were tools that analyzed and identified users on Bitcoin blockchain.
June 06, 2020, 05:05:35 AM
Just woken up and read through this thread , not what I wanted to read first thing on a Saturday morning .
Seriously thanks for this OP and others, it’s reminded me to delete my Coinbase account. I’ve only had one experience with them and never again!
All of this news does not surprise me and hope fully when I delete the account, all my data will be removed ??
Thanks for the heads up OP .
Seriously thanks for this OP and others, it’s reminded me to delete my Coinbase account. I’ve only had one experience with them and never again!
All of this news does not surprise me and hope fully when I delete the account, all my data will be removed ??
Thanks for the heads up OP .
If you have done the KYC at coinbase, that data may remain with them even if you delete your account from there. I was already fed up with coinbase because every time bitcoin pumped the coinbase site goes offline. However OP has revealed some new facts which will further discourage everyone to use the centralized service.
June 06, 2020, 04:57:01 AM
Coinbase is too simple to use for the noobs so I don’t think they’re ever going to get truly boycotted en masse.
Brian Armstrong is an asshole but assholes rule the world.
Brian Armstrong is an asshole but assholes rule the world.
legendary
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June 06, 2020, 04:47:23 AM
I'm only using CoinBase to earn referral commissions.
June 06, 2020, 04:12:30 AM
It has its good and its bad and maybe ugly traits, but on another note Coinbase is bringing in a lot more mainstream folks through it being where it is, more buyers into Bitcoin ad the whole digital asset class market, can only be a good thing for the rest of us long term yes? So while it may have conceded in some ways, it is bringing something to the table as well. I don't really use Coinbase that much but as the Bitcoin Market is growing, so are regulations coming in some areas whether we like it or not.
June 06, 2020, 03:23:56 AM
CoinBase is a bitch!
As they say, once a bitch always a bitch.
I never trusted CoinBase. We all know they are working with IRS and 3 letter agency.
I'm only using CoinBase to earn referral commissions.
In terms of privacy, I always prefer Samourai Wallet coinjoin - it's by far better than Wasabi.
As they say, once a bitch always a bitch.
I never trusted CoinBase. We all know they are working with IRS and 3 letter agency.
I'm only using CoinBase to earn referral commissions.
In terms of privacy, I always prefer Samourai Wallet coinjoin - it's by far better than Wasabi.
June 06, 2020, 03:22:57 AM
I wonder how many of you who made comments here are still with coinbase ?
I have put £10 through my Coinbase account since its inception so I'm sure they're pleased with the little corporate robot I am. Treat them as radioactive and you'll be fine.
Every centralised service will end up like this eventually. The difference is that most yield to it with some reluctance rather than running towards it like they are.
legendary
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June 06, 2020, 03:16:10 AM
It's been long time they started this mess and I did not have 2nd thought to cancel my account with them after. However it's sad to see a lot of people especially newbies are still using them not knowing the risk they are taking.
I wonder how many of you who made comments here are still with coinbase ?
I wonder how many of you who made comments here are still with coinbase ?
June 06, 2020, 03:02:38 AM
an interesting interpol report on wasabi wallet popped up in that jameson lopp thread: https://www.tbstat.com/wp/uploads/2020/06/Europol-Wasabi-Wallet-Report.pdf
key takeaways: wasabi coinjoins are easy to recognize but cannot be de-mixed unless you make a mistake like re-consolidating outputs afterwards. "suspects who avoid major slip-ups have a very high probability of staying undetected"
key takeaways: wasabi coinjoins are easy to recognize but cannot be de-mixed unless you make a mistake like re-consolidating outputs afterwards. "suspects who avoid major slip-ups have a very high probability of staying undetected"
In the future most exchanges will very likely be in bed with the government, and if we won't have 100% fungibility, there will be "dirty" and "clean" coins, judging by what we see with wasabi coinjoins right now. Maybe this will ensure that Bitcoin won't get banned, because it's weak privacy was the one thing that stopped it from being banned so far.
June 06, 2020, 02:51:00 AM
From a business perspective, tho work with the FED and the IRS is a great move. Coinbase will get over those few hundred that close their account because of that news. They want to get bigger and that just works with public collaborations. Maybe Brian Armstrong even considers a Kelly Loeffler move and go politics. Eventually you see that people work for themselves and not for the community
June 06, 2020, 02:46:50 AM
Just woken up and read through this thread , not what I wanted to read first thing on a Saturday morning .
Seriously thanks for this OP and others, it’s reminded me to delete my Coinbase account. I’ve only had one experience with them and never again!
All of this news does not surprise me and hope fully when I delete the account, all my data will be removed ??
Thanks for the heads up OP .
Seriously thanks for this OP and others, it’s reminded me to delete my Coinbase account. I’ve only had one experience with them and never again!
All of this news does not surprise me and hope fully when I delete the account, all my data will be removed ??
Thanks for the heads up OP .
June 06, 2020, 02:12:30 AM
an interesting interpol report on wasabi wallet popped up in that jameson lopp thread: https://www.tbstat.com/wp/uploads/2020/06/Europol-Wasabi-Wallet-Report.pdf
key takeaways: wasabi coinjoins are easy to recognize but cannot be de-mixed unless you make a mistake like re-consolidating outputs afterwards. "suspects who avoid major slip-ups have a very high probability of staying undetected"
key takeaways: wasabi coinjoins are easy to recognize but cannot be de-mixed unless you make a mistake like re-consolidating outputs afterwards. "suspects who avoid major slip-ups have a very high probability of staying undetected"
As stated in the linked treatise I linked in OP, the instrument to improve our privacy are already out there. We should use them every time we have the possibility to, not only to increase our privacy, but also to increase everyone else's.
<...>
i find this all depressing but also unsurprising. coinbase has been establishing a finger in every pie---wallet, exchange, merchants, custody, OTC, etc---while bowing to regulators at every turn. why not blockchain analysis too?
i find this all depressing but also unsurprising. coinbase has been establishing a finger in every pie---wallet, exchange, merchants, custody, OTC, etc---while bowing to regulators at every turn. why not blockchain analysis too?
Don't forget one of their subtler trick: the EARN program. You are basically just given a few satoshi for free. This is to make sure you can do errors with them, like sending to your main stash account so they can trace you and link your all cripto assets, eventually selling this information to your government. It's a proper corporate-wide deliberated dust attack.
I hope that the true Bitcoin Core community will leave Coinbase and delete their accounts.
<...>
Time to make #deletecoinbase gret again! <...>
June 06, 2020, 01:35:28 AM
I hope that the true Bitcoin Core community will leave Coinbase and delete their accounts.
Let's spread that message across social media and crypto forums,so more people with Coinbase accounts know what's coming.If you are a Coinbase user,you have to verify identity,all your transactions will get tracked and the all mighty Coinbase can block the cryptocurrencies in your account anytime and for any reason.Coinbase is basically the cryptocurrency version of Paypal.
Let's spread that message across social media and crypto forums,so more people with Coinbase accounts know what's coming.If you are a Coinbase user,you have to verify identity,all your transactions will get tracked and the all mighty Coinbase can block the cryptocurrencies in your account anytime and for any reason.Coinbase is basically the cryptocurrency version of Paypal.
June 06, 2020, 01:33:38 AM
Another excellent thorn in their side is journo @J9Roem. Here she castigates Armstrong with aplomb
Worth a follow and a trawl through her work to keep abreast of this and many foul depths.
Quote
I would sooner congratulate the Party for driving the adoption of telescreens in '1984' than Coinbase for "helping mainstream adoption of bitcoin."
Sucking people into a financial panopticon that represents the opposite of all principles we claim to hold is not worthy of praise.
Sucking people into a financial panopticon that represents the opposite of all principles we claim to hold is not worthy of praise.
Quote
Brian recently virtue-signaled about how he cares about black lives. How many black lives & families were destroyed through the DEA's multi-decade War on Drugs? How many non-violent offenders will be thrown in prison when Coinbase helps deanonymize them?
Worth a follow and a trawl through her work to keep abreast of this and many foul depths.
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