#DeleteCoinbase ???

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LINKS FOR ADDITIONAL READING FOR THIS VIDEO & ALL INFO IN TEXT DOWN BELOW:

In Depth Look Into Coinbase Scandal: https://www.coindesk.com/what-coinbase-needs-to-learn-from-the-neutrino-scandal
How Coinbase Makes Money: https://blocklr.com/news/coinbase-how-they-make-money/
Neutrino: https://www.neutrino.nu/
Hacking Team: http://hackingteam.it/
Coinbase Employee Interview: https://twitter.com/udiWertheimer/status/1102164300679000064
#DeleteCoinbaseTrustChain: https://twitter.com/hashtag/deletecoinbasetrustchain?f=tweets&vertical=default&src=hash

There is a great article found on Coindesk written by Michael J. Casey which speaks more in depth about the realities of this world of trust-less ledgers and their coexistence with “trusted” third parties.
I think this is where confusion can seep in for those who are learning about this blockchain technology and the ecosystem built on top of it.
Bitcoin’s blockchain is public, decentralized, peer to peer, and arguably most importantly, it is trust-less. But these layers that ultimately enable the majority of us to interact with these blockchains hold some power. They are the gatekeepers of sorts. It might seem far-fetched that any company or third party can find itself in the “too big to fail” category already in this space, but if any were to exist, I’d say Coinbase is pretty close.
There has been a lot of news coming out about Coinbase and it’s acquisition of Neutrino. There’s the drama with not only what Neutrino actually does, but also the history of the founders of Neutrino and they’re involvement in a shady IT firm called Hacking Team.

But what’s more alarming (to me at least) is one Coinbase employee that explained how they needed to replace their previous third party providers because they were found selling client data to outside sources.
This directly conflicts with the terms and conditions laid out by Coinbase so at least they nipped that one in the bud. But I would respect them a lot more if they chose to be more transparent about that issue with its users.
Granted, I don’t know how many people were affected or what kind of information was being leaked, but things like this are all hints. Hints as to the integrity of companies like this that have seen great success over the years. We cannot deny the fact that Coinbase has assisted the on boarding of so many people to this space. It’s where I myself got started and it’s where I still recommend beginners to go to purchase their first Bitcoin.
All that being said, if you find yourself wanting to boycott Coinbase and delete your account but you’ve got some Dust in your account which is preventing you from doing so, check out the #deletecoinbasetrustchain movement on Twitter.

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