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A comment on Coinbase Wants to Be Too Big to Fail. Parent comment

Re:Coinbase Wants to Be Too Big to Fail by pjc50 on Thursday September 27, 2018 @05:30PM (#18088919)
"Offchain" == "not bitcoin". If you're keeping it at coinbase, not in a wallet, that is called a "bank".
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Re:Coinbase Wants to Be Too Big to Fail by rlpb on Thursday September 27, 2018 @05:44PM (#18089047)
The cash in my bank account is still "cash".
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Re:Coinbase Wants to Be Too Big to Fail by CryptoPunk on Thursday September 27, 2018 @10:04PM (#18090432)
But it's not cash you control. You control the credit the bank issues to you when you make a deposit. And you rely on the bank not freezing that credit, and faithfully redeeming it for cash when you make a withdrawal.

The entire reason cryptocurrency was invented was to get around having to rely on trusted third parties to transact.

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