About the need to end anonymity in cryptocurrencies due to the scams. Coinbase.

[aironman]

I know it's a controversial topic, but I have to express my opinion based on what happened to hundreds of thousands of people, myself included.

In my opinion, Coinbase and Coinbase wallet are insecure platforms because they are vulnerable to anyone convincing a customer to connect their wallet to a malicious defi application designed to steal all the funds and assets they have in the wallet. There will be no password request of any kind, no notice of the type of contract you are signing, nor will you see any email of any kind, nor will coinbase take responsibility for any of the scam you have suffered.

The main problem is that there is no type of control over the applications that you can connect to the wallet, Coinbase does not do any examination, nor does it establish a legitimacy verification policy, so scammers have found gold to scam thousands of people every day in the world.

For things like that, a strict regulation that completely strangles the anonymity of cryptocurrencies is absolutely necessary, because unfortunately they are stealing from hundreds of thousands of people, and rising, and there is no way to even track the identity of the scammers.

They can do a lot more to prevent this problem, for example, allowing only applications accepted by the platform to connect to their systems, after all, they manage the address that Coinbase provided us. They must guard that information. They must send a copy of the signed contract between the person who has the address held by Coinbase and the other counterparty, so that both parties are fully aware of the fine print. They must request passwords at all times to sign this type of contract. In short, they must do much more.

[Upgrade00]

In my opinion, Coinbase and Coinbase wallet are insecure platforms

I am of the opinion that there is nothing like a secure platform on the internet or in real life, people have been scammed through social media, banks and pretty much every establishment in-between, regardless of their privacy laws.
If you are interested in crypto, you should first understand that you are your own bank and you provide your own security, bearing the risk of actions you take.

The main problem is that there is no type of control over the applications that you can connect to the wallet, Coinbase does not do any examination, nor does it establish a legitimacy verification policy, so scammers have found gold to scam thousands of people every day in the world.

I do not use coinbase services and cannot discuss how they run their programs. But as mentioned earlier, you should not depend on third party services to do due research. You should not even trust the platform if they did tell you that they researched on the services offered.
Do not trust; Verify.

For things like that, a strict regulation that completely strangles the anonymity of cryptocurrencies is absolutely necessary, because unfortunately they are stealing from hundreds of thousands of people, and rising, and there is no way to even track the identity of the scammers.

They can do a lot more to prevent this problem, for example, allowing only applications accepted by the platform to connect to their systems, after all, they manage the address that Coinbase provided us. They must guard that information. They must send a copy of the signed contract between the person who has the address held by Coinbase and the other counterparty, so that both parties are fully aware of the fine print. They must request passwords at all times to sign this type of contract. In short, they must do much more.

I do not agree with the boldened part. There is no necessity to take out anonymity from cryptocurrencies as that's what they were built on.
Steps (like those outlined) can be taken to protect and you can send an email to coinbase for due consideration.
I can also suggest publicly tagging them on social media as that usually gets a faster response.

[davis196]

Your online security is your own responsibility.
Nobody can come and save you,if you are dumb enough to get scammed online.
There's no anonymity in the fiat financial system and yet millions of people get scammed every day,their credit card data gets stolen and their fiat bank accounts get milked.The fiat financial system is even more regulated than the crypto industry and the amount of fiat scams is bigger than the crypto scams.
You can connect other applications to your Coinbase wallet AT YOUR OWN RISK.
The Coinbase team can do some monitoring on all applications that can be connected to Coinbase wallets,but they cannot act as your babysitter.
More regulations over the crypto industry won't reduce the number of scams.The main problem is the huge amount of gullible and naive people online,not the quality of the current crypto regulations.

[fzkto]

If you don't know how to use your money, it's nobody's fault but your own. Many people lose money by investing in pyramid schemes or giving fraudsters their personal credit card details. It's the same with cryptocurrencies, if you are careless with cryptocurrencies, you will sooner or later get scammed. Speaking of anonymity, common scammers who scam people with non-digital assets rarely get caught by the cops either.

[ultrloa]

Just because of other foolishness you want to take out the anonymity of crypto? Do you think it will serve the purpose on the usage of cryprocurrency? Since we can say no to this since crypto should be remain om what it current stands.

Those people who get scam should do their research since if they just rely on unverified things then this will be their fate and scammers became more rich by their help.

[avikz]

Having a control over account identity goes directly against the main benefits of cryptocurrency. Also it only depends on you how you want to use your cryptos. In an open world infrastructure, you get the right to choose whether or not to link your wallet to any random defi program without knowing their background. Coinbase can't have a control over it. But if they maintain a list of verified platform which are known to be safe. But there are couple of legal hurdles linked directly to competition law.

The best way to avoid online scam is to educate yourself and having a self control. Web security is a myth until a gap is found.

[longlivecapitalism]

End anonymity? Isn't that kind of the point of having cryptocurrencies in the first place? And keep in mind, there are regulatory measures in place for cryptocurrencies. Anyway, I believe that cryptocurrency investments are not for everyone. If you don't like to take the risk, just get a bank investment like a lot of other people do. As far as Coinbase is concerned, if you don't like how that app operates especially and the security measures it uses, there are other apps out there. Maybe you should try something different.

[kryptqnick]

I think that the fighting of crimes should be reasonable. Namely, the fight should target big criminals, big sums of money, rather than fight small money launderers. It's about setting priorities, basically. So completely abandoning privacy and making checks on people who have at best a couple of thousand dollars on an exchange in not reasonable. But if there are big sums involved, asking for ID and other documentation makes sense, and the higher the sums, the bigger must be the requirements. So it should be  a fine balance that is beneficial to society.

[virasog]

In my opinion, Coinbase and Coinbase wallet are insecure platforms because they are vulnerable to anyone convincing a customer to connect their wallet to a malicious defi application designed to steal all the funds and assets they have in the wallet. There will be no password request of any kind, no notice of the type of contract you are signing, nor will you see any email of any kind, nor will coinbase take responsibility for any of the scam you have suffered.

Apart from the coinbase, i think it is also our responsibility to connect to the wallet to the trusted defi applications only. Of course you will allow your wallet  to connect and there is no automatic procedure. Also i feel that you have done some sort of transactions also, as by only connecting the wallet no one can steal your funds  

[milewilda]

End anonymity? Isn't that kind of the point of having cryptocurrencies in the first place? And keep in mind, there are regulatory measures in place for cryptocurrencies. Anyway, I believe that cryptocurrency investments are not for everyone. If you don't like to take the risk, just get a bank investment like a lot of other people do. As far as Coinbase is concerned, if you don't like how that app operates especially and the security measures it uses, there are other apps out there. Maybe you should try something different.

Crypto is mainly created for that sole very reason on which is decentralized and anonymous but it turns out that it is really that rampant on where its con's really been used and that cant really be stopped
nor even avoided since it would be normal that those criminals or hackers/scammers all in one would definitely be seeing this feature on putting them on advantage.Cant really blame out for some
platforms or services which do make out some suggestions about ending anonymity and that would be mainly implied or applied into its platform itself.Losing anonymity and decentralization?
Of course it is but you do still have the freedom to choose on whether you gonna deal with it or not.

[DooMAD]

a strict regulation that completely strangles the anonymity of cryptocurrencies is absolutely necessary

Do you know what scammers do when real-world identities can be tied to payment details?  They don't just steal your money, they steal your identity too.  We're not going to expose ourselves to that kind of risk because you and others acted irresponsibly.  Be thankful you only lost your funds and try to be more careful next time.

[Kelvinid]

Perhaps, you can make deal with these scams if you will ignore them.

Even if you use Binance, there is no far difference from using Coinbase, the security breach is certainly possible to happen on the internet. We can't be totally 100% safe on the internet, no platform could provide us, users. What we have to do is to be vigilant about such kinds of activities, they certainly exist for they know they still have the chance.

If this is your first time, then make sure there is no 2nd time.

[BitcoinMoses]

There is a time for everything !

After reading your thread today, I could not keep myself silent. Therefore, I must find a solution to the scamming problems the Bitcoin investors are facing todays.

The current version of coinbase wallet service platform itself is a scamming Bitcoin Exchange. I will no longer tolerate any further scamming to the investors by the Coinbase Wallet Service platform and by their team . I must reveal the truth regarding the Coinbase Wallet Service Platform.

The Coinbase Wallet Service known as Coinbase Inc is a stollen property and it is run by the wrong people.

When I designed the Coinbase transaction in the Bitcoin Core, I setup the Coinbase Exchange for Bitcoin trading. I designed the company Coinbase Inc and wrote a letter to Brian Armstrong to register the Coinbase Inc behalf of me as I wanted remain anonymous. It was before the launching of the Bitcoin on 2009.

My plan was to register the Coinbase Inc in 2009 in New York or in Washington DC. But for a mysterious reason, Brian Armstrong finally register the Coinbase Inc in 2012. And he is running it without my written agreement, how he should run the Coinbase Inc behalf of me. Now, after many years, the CEO of Coinbase Inc has started to play chess game with me by filling a case against my real Coinbase Intellectual property right in the UK Intellectual Property Office.

Therefore, I have submitted the original Coinbase protocol papers in relation to Coinbase Inc company formation. Now, it is clear that Coinbase Inc is not the reliable Bitcoin Exchange as it was stollen from me by a third party and they hired Mr Brian Armstrong to run it.

When I designed Bitcoin I designed it for complete security and privacy. Bitcoin actually is hackproof and cannot be stollen. I have created further mulilayets security system for P2P Bitcoin transaction and any one can make transaction without going through any exchanges at all. The new system will each connect over the Internet for direct P2P transaction while two willing parties can conduct transaction simultaneously without any problems. As I mentioned, that Bitcoin is a kind of money that when you throw on the road, it will turn into lead but when the owner pick it up will turn into gold. Therefore, no third party financial service provider is required. When someone download the Bitcoin Core and receive incoming connections to the port 8333 for making secure transaction, you can do it yourself without any other exchanges or wallet service provider.

As an optimisation, and for secure transaction I’ve made a switch “-connect=1.2.3.4” to make
it only connect to a specific bitcoin address. You could make your extra
nodes connect to your primary, and only the primary connects over
the Internet for P2P secure transaction. It doesn’t really matter for now, if any wallet service provider or exchange run their business dishonestly, since the Bitcoin Core etwork would provide multisig transaction.

Indeed, the Bitcoin Core is a distributed secure timestamp server for secure transactions. A few lines of code could create a secure transaction with
an extra hash in it of anything that needs to be timestamped for security purposes.
I should add a new TPIP command to timestamp a file so it could provide complete security and as well as privacy.

The Coinbase Inc is another Mt Gox. So I warn the investors to become wise and keep their Bitcoin in their own wallet instead keeping it in exchanges. The time is coming soon after the Coinbase Intellectual battle for Coinbase Inc to submerge in the Atlantic Ocean before I officially announce the truth who actually run the Coinbase Inc.

I think the time has come to reshuffle the Bitcoin cards according to my original plan and clean the Bitcoin space with detergent powder, and make a concrete fence around Every Bitcoin transaction for full security for the investors.


Satoshi Nakamoto

[HODLN]

Centralized authorities can have benefits, namely to restore order against the will of parties. The important factor here is who needs to consent: the authority, which can help in the case of theft but can also misuse its power, or the actual user, who is powerless to force another user's hand. As centralization lessens, people will have to become more directly responsible for their actions and risky behavior without trusting any higher level protocols that could handle transactions but fall under the issue of having to trust another party.

[aironman]

I will put my answers in bold.

In my opinion, Coinbase and Coinbase wallet are insecure platforms

I am of the opinion that there is nothing like a secure platform on the internet or in real life, people have been scammed through social media, banks and pretty much every establishment in-between, regardless of their privacy laws.
If you are interested in crypto, you should first understand that you are your own bank and you provide your own security, bearing the risk of actions you take.

I agree that 100% security does not exist and believing that you are going to obtain it through modern cryptography and anonymity is another illusion.

What I ultimately advocate is that if these exchanges are going to be so lax that they don't even have control over the type of application that is going to connect to their systems, and therefore allow them to rip you off, that they do like the fiat banks and at least include the victims in the contingency insurance when a robbery occurs due to abandonment of functions and not adopt the necessary measures.

The main problem is that there is no type of control over the applications that you can connect to the wallet, Coinbase does not do any examination, nor does it establish a legitimacy verification policy, so scammers have found gold to scam thousands of people every day in the world.

I do not use coinbase services and cannot discuss how they run their programs. But as mentioned earlier, you should not depend on third party services to do due research. You should not even trust the platform if they did tell you that they researched on the services offered.
Do not trust; Verify.

In my opinion, believing that you can verify a cryptocurrency exchange is just another illusion, unless you can apply something akin to the scientific method where there is some kind of peer review with multiple reviewers and trying to come to some consensus, that is, that you have access to the mechanisms used and policies implemented in each exchange company. Anything other than that is an illusion of believing that you have done your homework.

For things like that, a strict regulation that completely strangles the anonymity of cryptocurrencies is absolutely necessary, because unfortunately they are stealing from hundreds of thousands of people, and rising, and there is no way to even track the identity of the scammers.

They can do a lot more to prevent this problem, for example, allowing only applications accepted by the platform to connect to their systems, after all, they manage the address that Coinbase provided us. They must guard that information. They must send a copy of the signed contract between the person who has the address held by Coinbase and the other counterparty, so that both parties are fully aware of the fine print. They must request passwords at all times to sign this type of contract. In short, they must do much more.

I do not agree with the boldened part. There is no necessity to take out anonymity from cryptocurrencies as that's what they were built on.
Steps (like those outlined) can be taken to protect and you can send an email to coinbase for due consideration.

I understand that people who want to hide their fortune from everyone's finances want to use cryptocurrencies and want anonymity in any way. Deep down I understand, I don't agree at all, but I understand.
Professional criminals also want anonymity and availability of funds at any cost.

I can also suggest publicly tagging them on social media as that usually gets a faster response.

I've been doing it for as long as I can, at least let people know that these companies are not at all trustworthy.

[aironman]

Your online security is your own responsibility.
Nobody can come and save you,if you are dumb enough to get scammed online.
There's no anonymity in the fiat financial system and yet millions of people get scammed every day,their credit card data gets stolen and their fiat bank accounts get milked.The fiat financial system is even more regulated than the crypto industry and the amount of fiat scams is bigger than the crypto scams.
You can connect other applications to your Coinbase wallet AT YOUR OWN RISK.
The Coinbase team can do some monitoring on all applications that can be connected to Coinbase wallets,but they cannot act as your babysitter.
More regulations over the crypto industry won't reduce the number of scams.The main problem is the huge amount of gullible and naive people online,not the quality of the current crypto regulations.

If you think that you are totally safe in the online environment, you are wrong.

A person who uses hot or cold wallets is someone who has not yet been cracked into their smartphone or their home operating system by taking advantage of a metasploit hack, has not lost the hard drive or the device where the password is stored, has not yet received it. damaged, or not yet stolen.

The fiat system has insurance that allows it to deal with these thefts, and thus the system is safer every day. It is thanks to the existence of this regulation that banks increasingly have to take security very seriously, something that exchange companies do not have to do since there is hardly any regulation. You believe or hear that exchange companies use encryption mechanisms and you already believe that the system is the pinnacle of security, and that is an illusion.

The only regulation I ask is that anonymity ends because, let's be clear, the only people who are interested in anonymity are criminals who want to hide their money from the government.
These criminals believe that they can live apart from the society that shelters them and in reality they are retards with serious mental problems who commit tax crimes. Clearly not counting professional criminals such as drug dealers, arms dealers, human trafficking and worse, of course. They also want anonymity in financial transactions.

I sincerely hope that you get ripped off and that all your money is stolen and you have to live on charity due to the total lack of empathy you show.

[aironman]

a strict regulation that completely strangles the anonymity of cryptocurrencies is absolutely necessary

Do you know what scammers do when real-world identities can be tied to payment details?  They don't just steal your money, they steal your identity too.  We're not going to expose ourselves to that kind of risk because you and others acted irresponsibly.  Be thankful you only lost your funds and try to be more careful next time.

In fact, this is how they commit their crimes. They steal the digital identity of a person, they pretend to be them by stealing their photos, they even train deepfake models with the photos so that when you make a video call, you see that person. In part it is also the fault of social networks because they do not make the slightest effort to try to verify the identity of the person. I understand that what I am saying is very controversial, in an ideal world where sociopathic criminals do not exist, these measures are not necessary, but there are millions of these people who do not have the slightest remorse in committing these crimes, and it is not worth it to me with the excuse that fiat banks also do it because it sounds like an ad hominem to me, to say, fuck you, because it's something you have to accept. It's crazy to think that you have to be a victim and you have to assume that you can be sacrificed to sociopaths at any time.

[DooMAD]

*lying bullshit*

Speaking of identity thieves, kindly crawl under a rock and stay there, you sack of shit.  No one is buying your impersonation attempt.

Do you know what scammers do when real-world identities can be tied to payment details?  They don't just steal your money, they steal your identity too.  We're not going to expose ourselves to that kind of risk because you and others acted irresponsibly.  Be thankful you only lost your funds and try to be more careful next time.

In fact, this is how they commit their crimes. They steal the digital identity of a person, they pretend to be them by stealing their photos, they even train deepfake models with the photos so that when you make a video call, you see that person. In part it is also the fault of social networks because they do not make the slightest effort to try to verify the identity of the person. I understand that what I am saying is very controversial, in an ideal world where sociopathic criminals do not exist, these measures are not necessary, but there are millions of these people who do not have the slightest remorse in committing these crimes, and it is not worth it to me with the excuse that fiat banks also do it because it sounds like an ad hominem to me, to say, fuck you, because it's something you have to accept. It's crazy to think that you have to be a victim and you have to assume that you can be sacrificed to sociopaths at any time.

You're still opening more avenues of attack by removing privacy.  The more information companies are forced to store, the more criminals will intercept.  You being upset about it doesn't change the reality of it.

[Anonylz]

*lying bullshit*

Speaking of identity thieves, kindly crawl under a rock and stay there, you sack of shit.  No one is buying your impersonation attempt.

Lol, savage response to a misguided self-proclaimed satoshi impersonator. Same shit he
posted here. Wiredo  

If you think that you are totally safe in the online environment, you are wrong.

A person who uses hot or cold wallets is someone who has not yet been cracked into their smartphone or their home operating system by taking advantage of a metasploit hack, has not lost the hard drive or the device where the password is stored, has not yet received it. damaged, or not yet stolen.

Nobody guarantees 100% safety whether using any form of wallet because anything can happen which you already mentioned. What is important is you the investor understand the risk involved and prepare to accept whatever is the outcome.
I understand it is a bad experience and you want a solution but you have to understand it is a decentralized space hence all the regulations you mentioned can not be applied by coinbase, if you want a regulated platform you should trade with centralized exchanges like Binance where even if they experience any form of hack they guarantees safety of investors funds. I hope you can recover your lost funds somehow.

You are not the only one to have their funds stolen or got scammed, reason why it is important to not invest more than you can handle.

[fiulpro]

There are so many reasons so as why someone might want to have a personalized bank balance but they cannot. It's not that simple. Hackers and such people definately do hide their identity but we have to understand that since the invention of bitcoins it have never been anonymous at all. It's very easy to track Bitcoins and other cryptocurrencies and most of the times you would be needing your documents as well to make a wallet therefore these regulations have already taken that credibility out.
I think coinbase is just heading to the commands of the governmental bodies, many people have time and again tried to hide their financial situation and to evade the taxes using Bitcoins and that's something which is a concerning situation for some.
Being anonymous does not mean you are a criminal!! Not everyone is safe dancing with their assets out in the hand and letting their family know about them as well.