Coinbase Wants to Be Too Big to Fail

Re:Coinbase Wants to Be Too Big to Fail by notyourday on Thursday September 27, 2018 @05:04PM (#18088662)

> Since the transaction amount is just a 64-bit value, the transaction fees are the same whether you're transferring $1 or $1M. In the latter case, it will be far cheaper than existing payment processors and banking settlement systems.

Large transactions in the US are done via wire transfers ($10-$20 charge against the account, offset via interest on balances of the cash management accounts) or via ACH transactions which cost about $0.25 also offset via interest on the balances of cash management accounts.

No one is running transactions that exceed several thousand dollars via credit card settlement networks.

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Re:Coinbase Wants to Be Too Big to Fail by bduerst on Thursday September 27, 2018 @06:43PM (#18089520)

You're being downvoted, but its true - many CC and Debit card services have built in stop gaps that restrict the maximum transaction amounts, usually around $2,000. (You can temporarily remove these with a quick phone call)

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Re:Coinbase Wants to Be Too Big to Fail by nradov on Thursday September 27, 2018 @11:24PM (#18090770)

What cards are those? I've made purchases significantly larger than $2K on several different Visa and American Express cards with no phone call necessary.

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