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This was one of the reasons why I started to use bitcoins, because I wanted to have an alternative to these types of fiat based services.
And yet many people are actually celebrating every new ETF application and
every announcement of another Bitcoin derivative. If this development continues,
the same people that profit from the legacy financial system will also profit from the
new financial system that is built around Bitcoin.
On the one hand Coinbase has been the entrance for many newbies into
the cryptocurrency world. But on the other hand they are already involved
in various practices that hurt the free flow of Bitcoins (e.g. they close
accounts when you are making gambling-related transactions, require KYC
and have a history of suspicious behavior around the addition of new
altcoins like LTC or BCH).