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A comment on Coinbase Exchange. Parent comment

Re:Coinbase Exchange by tedunangst on Monday January 26, 2015 @02:49PM (#8949137)
> This is a serious, professionally-run company backed by a lot of VCs we all recognize, plus banks and the NYSE.

So nothing like mtgox. More like Enron? "serious professionally run" isn't some magic ward of protection.

[ Parent | on HN ]
Re:Coinbase Exchange by javert on Monday January 26, 2015 @05:58PM (#8950192)
What about the vast majority of large, publicly-traded American companies that are honest and do good business?

Pointing out Enron is cherry-picking. I can point out 499 other business on the Fortune 500 that aren't Enron.

The point is, they, maybe Coinbase is just as corrupt and shady and incompetent as Mark Karpeles (i.e. Mt. Gox), but there is just no reason to assume that. Its a leap of faith. It's much more likely that they are not exceptionally shady/incompetent/dishonest/whatever Karpeles is.

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Re:Coinbase Exchange by tedunangst on Monday January 26, 2015 @07:14PM (#8950516)
The point isn't to decide whether they are good people or not; it's about the protections in place that should make that irrelevant. I buy all sorts of stuff from some surely shady characters, but I do so through amazon who I'm confident will make things right when they go wrong.

Coinbase is promising that if something goes wrong, they can make as much as 2% of it right. Let's hope that when something goes wrong, it's with that 2%.

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Re:Coinbase Exchange by serf on Monday January 26, 2015 @05:09PM (#8949911)
what I take from that phrasing is :

"Like Mt.Gox but on the East Coast near Wallstreet, so HFT should push the nobodies out."

It doesn't make me feel any more secure on that particular exchange.

[ Parent | on HN ]