Andreas Antonopolous defends Coinbase's left-leaning socialist govt actions

[Crypto Piece]

https://twitter.com/aantonop/status/987695831716384768

With bitcoin, YOU ARE YOUR OWN BANK. (not Coinbase as Andreas is saying is okay for people to rely on as a bank. purchasing, sure maybe, but storing your bitcoin, are you serious?)

[ManaMan]

He just uses this term bank for coinbase to tell you and for you to understand that coinabse is really the middleman. Same as bank can freeze your funds or do anything with your funds = coinbase can too and thus it is not your money. Well actually he is right coinabse is the bank, within bank you can exchange currency right? Problem is that you have stock exchanges that are fully regulated and by coinase calling themselves as an exchange some people might think it is the safe place to keep your money. Many people still don't care nor understand how does crypto work in the backgrounds and they feel comfortable holding their money on exchanges

[eliraio]

Hello,

It's actually really sad to see this move happening from the largest crypto company at the moment. The problem is however that there are not a lot of alternatives for Fiat to Crypto exchanges, Coinbase is a centralized regulated company which has to abide by laws set by governments and this is the problem. As long as governments control the companies that turn Fiat into Crypto and Vice Versa it will be very hard to establish a fully decentralized Internet.

In regards to this specific case of coinbase shutting down the WikiLeaks shop, it's a shame really, as decentralized currencies were meant to stop exactly this kind of political agenda that is using monetary power to silence opposition.

But you have to think also about safety issues and money laundering even most of us have nothing to do with that, there are certainly people who use crypto for illegal activities and therefore a market without some regulations can never grow healthy. I think this is some sort of the Chicken and the Egg Question..

We must stand firm against this kind of oppression of political opinion.

[cryptorTUX]

Of course that government is pushing on the coinbase to do this to wiki leaks,  since sadly adoption is not ready yet for wiki leaks to spend bitcoin on everyday things in stores and buy goods and service with it, they must use fiat gateways to do so. Andreas is always right when he speaks because he understands in depth how the whole system works and what is who doing, coinbase is really a bank. You have many people that don't know much other than going to coinbase buy and sell bitcoin there, they don't understand the risk they have by letting their coins on the platform.

[parobber]

No crypto service should be treated like a traditional bank, they are not regulated in the same way that banks are and for that reason your funds are not nearly as safe. There are little safeguards and you should be responsible for your own funds.

[thefaucetrunner]

If cryptocurrency gives you freedom, but someone stands between you and crypto (the middleman), are you really free?

[forumsehat]

It is true that we have bitcoin means we store in our own bank, and bank in government can use for us if we want to exchange bitcoin with fiat money that we need.

[franky1]

No crypto service should be treated like a traditional bank,

if it handles fiat.. then expect it to be treated like a traditional financial service.
lets pretend coinbase swapped fiat for beanie babies. and beanie babies for fiat
yes im talking about them popular smal teddy bears.

if wikileaks accepted beanie babies and then used coinbase to swap beanie babies for fiat.. coinbase would still not be able to continue service to wikileaks

its all because of the fiat side of coinbases business. not the beanie baby/token/crypto

[pooya87]

If cryptocurrency gives you freedom, but someone stands between you and crypto (the middleman), are you really free?

this is irrelevant here because there is nobody (no middle man) standing between people and using of bitcoin. what you see is just one of many services out there called Coinbase and if you don't like it then you can choose not to use if. as a merchant you can start setting up your own wallet and generate new addresses and accept payment, as a buyer/seller you can use another service or do it p2p instead.

[stompix]

Hmm,stumbled on this by chance but it made me curios instantly...
   

Andreas Antonopolous defends Coinbase's left-leaning socialist govt actions

What left socialist move is that?
Wikileaks has turned into a propaganda run by Russia, they are only attacking the western countries while thousands die in Russia, journalist commit "suicide" every week, everyone protesting is getting arrested and thrown in prison, yet there are no leaks. Hundreds of so called nationalists politicians are on Kremlin's payroll, like Le Pen, yet there are no leaks. And to put the cherry on top of the shitcake , Assange has a show on RT, the biggest propaganda tool Kremlin has at its disposal.

Yeah, wikileaks did some great job in the past but right now it's the same as Snowden. Hiding in Russia and blaming the CIA while getting protection from the FSB that requested access to Telegram security.

Coinbase is  basically a bank, is a business that can choose its customers.
And they don't want to service Wikileaks, simple as that.

I'm really curios what is this "leftist" move in this.....

[Meysa_richa]

It is true that I consider bitcoin or wallet to be my own bank, and with it I can keep and trade with an unlimited Online time and place as long as the facility allows.

[vv181]

Coinbase really well-served the world about Bitcoin, they made Bitcoin user-friendly which is fit to the non-techy person. I believe the last December 2017  bull run, Coinbase has a part in it because of they able to make buy Bitcoin easier than before. But sadly it is a cryptocurrency world, where privacy and anonymity matters and the services don't really make privacy and anonymity valuable.