Bitcoin Forum

???

What do you mean? I doubt coinbase is using that bip and are probably just using core to generate a new address for each user... They may have something scripted to derive a certain private key or it may just be given a label assigned to that user. They existed long before the seeds came into use so they must have their own solution to this already.

Coin base is not a wallet. Their "wallet " is not a wallet but a custodial service.
You don't have a seed for every user,  but mostly a derivation path for every single user or something like that.

It doesn't work like any other real wallet. You don't even have your private keys there.

No one knows here about the derivation path of Coinbase wallet they don't even have blog posts or articles about what derivation path of their wallet.

Coinbase is just an online exchange site and it is not the same as a wallet like Electrum or any wallet that you can manually choose a derivation path of your wallet.

If you still want to know about the derivation path of their wallet you can ask them directly through this portal below.
- https://support.coinbase.com/customer/portal/emails/new

Ironic isn't it? The most useful service and (... no seeds, no stems, no sticks))) nobody knows nothing about the way they operate. They gotta use something to generate btc wallet addresses for the registered users aren't they?

They'll know how their system works. They were using full nodes at first and I imagine they still are. The issue with publishing proprietary security methods are thst it can make your security systems less secure and thus easier to bypass or someone from the inside running network operations and keeping the server online may be able to work out what private keys are going to be in use from the software team...

Coinbase seem to script most of their work themselves so it's for them to know how things are derived...

Of course they do... but it is a proprietary, closed-source system. So it isn't at all strange that no one knows what they're doing or how they're doing it outside of the coinbase development team ::)

It's like they store everything in a system, each user is randomly assigned one or more bitcoin addresses, I don't think it's arbitrary, but it's the same way we create a new address in Electrum. I assume they own an wallet similar to Electrum, and they use it to create a series of addresses and allocate to users. The amount of money transferred to the users' addresses will be automatically transferred to another address, their source address. Just speculation :)

WE don't need to know because THEY control everything (private keys, generation of new keys,...) not the users. even if you had their entire source code it still wouldn't be useful to you because at the end of the day you still don't have anything from the account you have to use that information with.

I'd guess that it's the same with most/all custodian services. I see no reason they would share info about their internals. Every bit of info they share may be exploited by somebody sooner or later.
And that's why you should use a proper wallet instead of a custodian. Install a wallet, backup your seed or private keys safely and you are the master of your money.
Of course, you should install a wallet with public source code, so you can see how it operates  ;)

Before you go in the direction that no one knows anything about their business, a few minutes of searching on Google would give you enough answers to change your mind. Coinbase is not some secret agency, but it is also not a completely open organization that is required by law to share all information with the public. I may be wrong, but only Coinbase described in detail the process of generating private keys, which some didn't like because they thought it was a security risk. I don't believe any other crypto exchange has more security then Coinbase, but that doesn't mean people need to keep their funds there.

Why You Need a Physical Vault to Secure a Virtual Currency (https://www.wired.com/story/coinbase-physical-vault-to-secure-a-virtual-currency/)

y2k-2016, do you feel better after reading the article?

Thats not ironic because there must be a tangible reason why their boards choose to kept the information hidden and the last time i checked coinbase is not the only centralized exchanve site that dont expose the derivation path they used but I'm that they will use either the BIP39 or 44.