Coinbase warns that bankruptcy could wipe out user funds

Re:Coinbase warns that bankruptcy could wipe out user funds by azinman2 on Thursday May 12, 2022 @01:32PM (#31357274)

I’m not terribly worried about that scenario. I haven’t had my 1password breached — lots of bad things could happen if I did. I don’t own enough crypto to make this my biggest concern. I’d rather have a robust system that will hold it without failure, or in Coinbase’s case, bankruptcy.

[ Parent | on HN ]

Re:Coinbase warns that bankruptcy could wipe out user funds by tekknik on Friday May 13, 2022 @01:12AM (#31363584)

Then you have some false sense of security and clearly aren’t holding any real value in this wallet.

[ Parent | on HN ]

Re:Coinbase warns that bankruptcy could wipe out user funds by azinman2 on Friday May 13, 2022 @02:56AM (#31364236)

Real value is all relative.

It's all about ones personal trade offs. I have more faith in cryptography in a software world with backups than I do in a random hardware device with a maker that's unlikely to last the test of time.

[ Parent | on HN ]

Re:Coinbase warns that bankruptcy could wipe out user funds by tekknik on Friday May 13, 2022 @11:09AM (#31368648)

Oh I’m right there with you on hardware wallets, I’m just pointing out that your software based wallets are very vulnerable. The only safe key is one that nobody can retrieve.

[ Parent | on HN ]