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Coinbase was never about the original cryptocurrency vision anyway. They always wanted to be the crypto ‘bank’ and be the middleman collecting fees. Even the na
by null0pointer 6y ago
Coinbase was never about the original cryptocurrency vision anyway. They always wanted to be the crypto ‘bank’ and be the middleman collecting fees. Even the name ‘Coinbase’ [0] was deliberately chosen to confuse people and make them think that they are somehow core to Bitcoin.
0: In the Bitcoin protocol a transaction which generates new coins and issues them to the miner of a block is called a coinbase transaction.
- vkou 6y agoYes, it was quite devious of them to name themselves in a manner that would confuse some tiny fraction of the cryptocurrency geeks [1] that know what a coinbase is, but don't know what Coinbase is. [1] Which constitute some tiny fraction of the user-base of cryptocurrencies - which is predominantly a gaggle of day-traders, conmen, and the occasional normie who needs to pay a ransomware operator in Belarus.