Own crypto’s?

ttown

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I hope it’s not in the system. Coinbase warning.




In the event the crypto exchange goes bankrupt, Coinbase says, its users might lose all the cryptocurrency stored in their accounts too.

Coinbase said in its earnings report Tuesday that it holds $256 billion in both fiat currencies and cryptocurrencies on behalf of its customers. Yet the exchange noted that in the event it ever declared bankruptcy, “the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings.” Coinbase users would become “general unsecured creditors,” meaning they have no right to claim any specific property from the exchange in proceedings. Their funds would become inaccessible.
 

TinkerTanker

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Who uses Coinbase to hold crypto? Crypto is meant to be decentralized, you hold it in YOUR wallet, which you run off of the crypto's software or an easy-to-use program that runs on the blockchain. If you've got your crypto in an exchange, you don't own crypto. You own what the exchange says you own, which is defeating the entire point of blockchain.
Just my 2 cents. I've been involved in BTC since 2014 or so.
 

joegrizzy

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Who uses Coinbase to hold crypto? Crypto is meant to be decentralized, you hold it in YOUR wallet, which you run off of the crypto's software or an easy-to-use program that runs on the blockchain. If you've got your crypto in an exchange, you don't own crypto. You own what the exchange says you own, which is defeating the entire point of blockchain.
Just my 2 cents. I've been involved in BTC since 2014 or so.
lots and lots of people. people still use robinhood and whatnot too i'd imagine. heck people use the stock market, which trades things given value in dollars, which are literally loaned to the government by the very people running the stock market.

it's a nonsense shell game of "who's the bigger idiot?" don't get me wrong; i understand people can and do make money. but the entirety of it is literally a casino; the house never loses because the volume of their pile never decreases. it doesn't matter who wins and loses as long as more and more people play the game.

the
only
way
to
win
is
to
not
play

casinos eventually go bankrupt if no one plays. i don't want my economy based on twitter, netflix, facebook. it should be destroyed. just my .02
 

mr ed

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I don't get out much. But coming back from Arkansas yesterday we stopped at the Mc Donalds in Chouteu (sp)
and they had a machine selling crypto
 
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