Re:Coinbase S-1
by entropea on Thursday February 25, 2021 @05:55PM
(#26269402)
I don't know if you're considering what Coinbase is when in alignment with cryptocurrency. It is exactly what cryptocurrency was supposed to not be. It's centralization, it's a bank. I personally have no emotion towards it, but I definitely understand those who do as the cryptocurrency project was quickly taken over by the same old financial interests.
[ Parent
| on HN ]
False. The objective of crypto isn't to force everyone out of the banking system, it's to provide an ability to opt-out and be your own bank for those who need or want it. If you want to use a traditional bank or custodian instead, go for it. And indeed, for many people who cannot and should not be managing their own keys, it's the preferable option.
Re:Coinbase S-1
by ketamine__ on Thursday February 25, 2021 @06:02PM
(#26269466)
You need fiat on ramps for crypto to work. Contrary to what other commenters have suggested you can't legally help other individuals convert their dollars to BTC. That's acting as a money transmitter.