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A comment on Coinbase S-1. Parent comment

Re:Coinbase S-1 by eurasiantiger on Thursday February 25, 2021 @09:23AM (#26263033)
One could get a crypto credit card and spend transparently in fiat. No friction involved.
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Re:Coinbase S-1 by freeone3000 on Thursday February 25, 2021 @09:49AM (#26263272)
That's spending a Bitcoin balance, not Bitcoin. You might as well hold a Bitcoin index, and sell that. Or sell a Satoshi and transfer out the fiat, which is what it is. It has nothing to do with the transfer of Bitcoin: the same person holds your Bitcoin balance and your fractional fiat balance and decides the exchange rate. There's no blockchain there.
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