Tuesday 2 June 2020

Reminder: Coinbase hates Bitcoin


Coinbase isn’t a company that cares about Bitcoin. If you invested in Bitcoin and wish it to perform well, take it off Coinbase. They’ll use your funds to hold back Bitcoin as much as possible.Not because they’re slow to implement best standards (Segwit, batching).Not because they’ve engaged in insider trading (bcash, alts).Not because they don’t sponsor Bitcoin development like some other exchanges do.Not because their CEO constantly promotes shitcoins over Bitcoin.Mainly because they’ll sell out your information in the worst way. Coinbase’s primary business is to collect surveillance data.Yes, they sell your info to third parties.Yes, they feed it to intelligence agencies directly.Yes, they're also vulnerable to being hacked themselves, which leaks all of that data to everyone.All exchanges have to do this. Where things fall apart is that Coinbase acquired the team (Neutrino) that has been criticized for assisting horrible dictators, putting backdoors into software, been involved in State-level hacking that targets activists/dissidents, all the way up to being linked to the slaughter of Jamal Khashoggi.Bitcoin represents the separation of Money and State. Coinbase has cozy revolving door relationships with regulators, and those regulators want to prevent Bitcoin from succeeding.Better alternatives if you're from the States: CashApp, Swan Bitcoin, River Financial via /r/Bitcoin https://bit.ly/36RDocY

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