keccers
@keccers.eth
A totally unsurprising and now deleted post from a prominent voice in the ETH community complaining about how terrible Coinbase customer service is Don’t put money in Coinbase you are not comfortable with losing access to at any time, or losing entirely. Do not let them trick you into thinking they are comparable with a bank. They are not. Not on a support level, not on a compliance level, and your money is not insured there. Coinbase does not want to build “better”. They are not somehow virtuous because it’s “onchain”. They want to usurp the existing financial rails and replace them, and with less consumer protections for the little guys To put a point on it: Coinbase does not care about you, full stop. Dealing with them is a reality for most Western crypto users, whether through the dominance of Base in spaces like Farcaster, getting a stable job in the industry or having a place to custody your funds. I understand that, I am saying be judicious and careful when you engage
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Catch0x22 (2025 variant)
@catch0x22.eth
i think it's fair to call them out as Hudson did, but it's not fair to say "they don't care, they just want to usurp the existing system" that seems like a stretch coinbase/base could integrate policies of protection like simple insurance.. but the laws+tech haven't quite caught up yet unless you're happy to trust Multicoin and Wintermute to backstop a lot of what coinbase offers could and probably will be overtaken by bigger banks in the near future. but those guys definitely won't care about brypto
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Cassie Heart
@cassie
They do, it's not even a secret, they talk about replacing your existing fiat rails as a how-to guide: https://www.coinbase.com/learn/crypto-basics/can-crypto-really-replace-your-bank Brian even uses this kind of replacement terminology in his own words: https://x.com/brian_armstrong/status/1887705506745299104
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Catch0x22 (2025 variant)
@catch0x22.eth
lol first comment do you think they could replace the system? seems more like posturing to me, exactly what trump does. demand the extreme and get what you can before others do if not coinbase then it would be binance or kraken
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Cassie Heart
@cassie
I hold a few slightly overlapping and conflicting opinions: - cb puts in a greater level of security in protecting assets than any other exchange - cb is very compliance aligned - cb doesn't give a single shit about privacy or decentralization (it's why I quit after they announced base publicly, but I was arguing about it internally beforehand) - cb is doing everything they can to maximize their foothold (but any public company should be expected to do this) - CB is also trying to close the door behind them behind a facade of "positivity and vibes"
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Catch0x22 (2025 variant)
@catch0x22.eth
hmm i need to study more i remember last cycle @cobie kinda warned that Brian is either a hero or the greatest villain and we'll never know unless it's too late amongst the fluff on base, it's hard to know who is just there because they expect to get paid vs. actually building something cool vs. just caught up in the positivity loop
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Cassie Heart
@cassie
he can be both simultaneously – would it be net better for the world if we had fast settlement times for payments, no ability for cooked books, and sound monetary policy (at least for some of the coins)? absolutely! But would it be net better for the world if the way we got there was forever being locked into only centralized public ledger ecosystems where privacy is either legislated or instantly flagged and dead or it's "privacy" (but if the government wants to know who you are, they can find out)? No. It destroys everything that Satoshi started this entire industry for.
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keccers
@keccers.eth
People are never unambiguously evil. We are all sinners after all. You just want to be more good than bad, I suppose
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Cassie Heart
@cassie
Indeed, and those evils are sometimes virtues depending on the person giving an opinion.
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