Re:The first Bitcoin Cash block has been mined
by mikekchar on Tuesday August 01, 2017 @09:17PM
(#14907094)
I'm curious. If you were around during Mt. Gox's failure, why on earth are you holding ~80 BTC in somebody else's wallet? That seems kind of crazy, so I wonder if there is an advantage that I'm missing...
Re:The first Bitcoin Cash block has been mined
by btcthrowawayy on Wednesday August 02, 2017 @04:27AM
(#14908860)
Good question. It's a combination of things.
First of all, I've always trusted Coinbase a lot more than most other Bitcoin services. They're a US company, a YC company, I've met the founders, I know some of the employees, they at least appear to be very serious about security, etc.
Second, those 80 BTC are not all of my Bitcoin. I don't completely trust myself to securely store Bitcoin, so I like having some diversification of risk.
But yes, some of it comes down to laziness. I should probably figure out a better way diversify the risk without needing to trust a 3rd party.
It's not unreasonable to expect some delays accessing their cold storage (which is key split across geographically disparate safe deposit boxes, last I heard)
That said, I was around during Mt. Gox's failure (fortunately didn't lose anything then) so I get a little skittish when I hear about a wallet/exchange experiencing withdrawal delays...