Re:Coinbase: The Heart of the Bitcoin Frenzy
by Jommi on Thursday December 07, 2017 @05:18AM
(#15868917)
Wait you're suggesting one of the legally most robust changes out there (the one doing the most compliance) is actually slower than the shady, non-transparent exchange..??
Wow. Wonder why that might be
Re:Coinbase: The Heart of the Bitcoin Frenzy
by vertex-four on Thursday December 07, 2017 @09:56AM
(#15870455)
Because of bitcoin's origins in a largely an-cap community - and the continual anti-Government, pro-capitalist mindset in a significant part of the community as it stands now - there's not actually as much demand as there should be for "legal" exchanges etc. As a result, there's much more competition in the "shady" exchange space, less competition in the "legal" exchange space, and two things result: people occasionally lose a significant chunk of their life savings to shady exchanges, and legal exchanges don't have as much of a drive to be technically brilliant.
Re:Coinbase: The Heart of the Bitcoin Frenzy
by vocatus_gate on Thursday December 07, 2017 @11:45AM
(#15871571)
That's pretty insightful, actually. I mean, outside of Kraken (terrible), who are Coinbase's (legal/compliant) competitors? Basically no one.
Re:Coinbase: The Heart of the Bitcoin Frenzy
by csomar on Thursday December 07, 2017 @06:24AM
(#15869168)
This has nothing to do with compliance/legality. It has to do with engineering.
Re:Coinbase: The Heart of the Bitcoin Frenzy
by stef25 on Monday December 11, 2017 @11:01AM
(#15897842)
"magnificently engineered" - except for the fact that someone walked off with 120K btc.
Coinbase service is spotty but at least it has its security going for it, for now.
Re:Coinbase: The Heart of the Bitcoin Frenzy
by mancerayder on Thursday December 07, 2017 @09:42AM
(#15870323)
How about Bitrex?
The Bitfinex fiascos, of which there is a chain of suspicious events, could be circumstantial or truly something to be concerned about.
One of them being a lost deposit. The address generated by the site was wrong and thus the deposit never credited. It took a couple months for support to get on this and refund the lost amount. This happened a couple years ago. So had it happened now I'm not sure if technical support will ever get back.
I also failed to contact their technical support about other issues (can't really remember) but there was no way to reach them. They don't have proper support, they just have monkeys that tries to save face on social media. Only.
The best exchange so far from a technical perspective is Bitfinex. It is surprising because it is quite shady. But it is a rock solid exchange; and it is magnificently engineered. No wonder it is the top exchange out there. And Finex has handled the recent surge much better than Gdax or any other exchange out there.