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Author Topic: [2020-08-23]"Not your keys; not your coins".....?  (Read 157 times)
stmar
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August 23, 2020, 06:53:48 PM
Last edit: August 23, 2020, 07:13:32 PM by stmar
 #1

"Not your keys; not your coins" enshrined in US case law, says lawyer
Crypto lawyer Justin Wales sees Archer v. Coinbase ruling in favor of the digital asset custodian as more proof of “not your keys, not your coins.”

In brief
A California court has decided that Coinbase is not obligated to pay out Bitcoin Gold generated in a 2017 Bitcoin fork.
Plaintiff Darrell Archer sued the company after demanding Bitcoin Gold that could have been generated from his 350 Bitcoin held on Coinbase.
Crypto lawyer Justin Wales sees the ruling as a milestone for digital asset custody case law in the US.
<...>

https://decrypt.co/39574/not-your-keys-not-your-coins-enshrined-in-us-case-law-says-lawyer

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August 23, 2020, 11:09:08 PM
 #2

There's a discussion here already: https://bitcointalk.org/index.php?topic=5270890.msg55053071#msg55053071

Haven't reported because I don't know if duplicate threads in press are left alone.

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August 23, 2020, 11:10:46 PM
 #3

Well, well, as far as I know every platform announce before the hard fork takes place whether the platform will support it or not, so he should do with his coin

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August 24, 2020, 03:37:00 PM
 #4

As long as Coinbase didn't lack in any kind of notice and deadlines for their users with regards to the hardfork for Bitcoin I don't see Coinbase being liable when it comes to giving the complainant his Bitcoin Gold since they received several warnings already that Coinbase won't be issuing any kind of fork coins. I just wish that the judge didn't say "not your keys, not your coin" at this scenario as people will surely take this out of context and make it a precedent onto another case. I'm just hoping this doesn't really happen.
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August 24, 2020, 03:45:54 PM
 #5

There's a discussion here already: https://bitcointalk.org/index.php?topic=5270890.msg55053071#msg55053071

Haven't reported because I don't know if duplicate threads in press are left alone.

I don't report it either unless the topic already exists in the press section or it breaches the form that should be followed here, or it is an old news that was already discussed somewhere else.
+ Coinbase sucks, don't keep your money there ever.

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August 24, 2020, 10:32:57 PM
 #6

Well, well, as far as I know every platform announce before the hard fork takes place whether the platform will support it or not, so he should do with his coin

When theres a fork then we do saw that most exchangers do really give out their announcement neither they would support the fork or not and thats the time you do make up

decisions neither you would need to pull out those coins off exchange to get the chance on getting those forked coins or would decide to leave it there and would gain nothing.

Its just hard to believe on that Coinbase didnt make any announcement or notification about that.If they do then theres no point to argue and forcing to claim those BTG.

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August 25, 2020, 04:09:11 PM
 #7

this is a pointless complaint, the guy should know that coinbase is a private prey that only has to make sure that its clients' funds are safe and provide a good trading environment, coinbase has no obligation to pay generated Bitcoin Gold on a Bitcoin fork, what the guy should have done was in the past to have taken his bitcoin somewhere where he had support for that fork. and seriously keeping 350 Bitcoin in the coinbase is not a good thing, even if it was the safest exchange in the world, keeping 350 Bitcoin is not a good thing






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August 27, 2020, 12:23:44 PM
 #8

Its just hard to believe on that Coinbase didnt make any announcement or notification about that.If they do then theres no point to argue and forcing to claim those BTG.
Actually they did on twitter, 3 days before the fork , also mentioned to this article and probably to their user's email as well or even in-app notification too.

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August 27, 2020, 07:25:05 PM
 #9

Its just hard to believe on that Coinbase didnt make any announcement or notification about that.If they do then theres no point to argue and forcing to claim those BTG.
Actually they did on twitter, 3 days before the fork , also mentioned to this article and probably to their user's email as well or even in-app notification too.

1. No one should keep coins on an exchange unless one is intending to sell them soon.
2. IIRC I got an email and notice from Coinbase about it prior to that even though I have nothing in the account there.  

People who don't read or pay attention then cry because they didn't take responsibility to read or pay attention.  

Anyone paying attention over the last decade+ should know that if you don't have the keys, all you have is an IOU.
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August 30, 2020, 01:28:06 PM
 #10

Not your keys, not your car, house, boat,... ?

Wtf, grow up

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