Post
Topic
Board Exchanges
Re: Coinbase, the famous scam - wallet we should avoid
by
Anti-Cen
on 12/12/2017, 18:00:35 UTC
There's no transaction history because they're a bank and you don't actually have any of your money earmarked for you, it's all on one pool. The wallets and numbers you see in your account represent an "i owe you"...just as occurs in a fiat based bank. As soon as someone sends money to your wallet it is immediately transferred out of your wallet to the Coinbase wallets, the general pool of funds used to cover other people's transactions.

Hi Habear

So how would we know that Coinbase does not counterfeit these coins in the pool and use an internal database to place them into your account and
the people who designed BTC talk about inflation being kept in check but it's not if Coinbase is printing up fake coins as fast as they can sell them.

Can you see me getting any Bit-Gold from Coinbase since they hold coins for me from before that fork because I would say I can kiss them goodbye
from what I am reading ?

This is how all banks have operated for over 100 years.

Many people have moved to gold/silver and BTC to get away from banks and the monopoly money and need to be aware that it's just the same thing
when using fat-cat brokers to hold these coins.