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Using your Coinbase account means it didn't involve a private key belonging to you. We don't know if the ATM network and Coinbase transacted on the blockchain.
by BenoitP 8y ago
Using your Coinbase account means it didn't involve a private key belonging to you. We don't know if the ATM network and Coinbase transacted on the blockchain.
That's still an occurrence of Bitcoin being a transferable unit of value, though.
We're not yet on the canonical usage of Bitcoin (that would be you using a private key you're in control of), but we're getting there.
- asenna 8y ago> Using your Coinbase account means it didn't involve a private key belonging to you. True. > We don't know if the ATM network and Coinbase transacted on the blockchain. The action on my part on Coinbase was basically transferring / sending BTC to an external BTC address. So the transaction was definitely on the blockchain. But yes, I see your point. I was also carrying my Ledger wallet but to plug it into my laptop and then initializing the transfer while standing at the ATM was not possible. So yeah, still getting there.
- BenoitP 8y ago> The action on my part on Coinbase was basically transferring / sending BTC to an external BTC address Oh, so it did involve a Bitcoin address. You're right, I don't think they tried to find each other through metadata to settle it outside the Blockchain. That would be dumb, plus the inconveniencing 20 minutes is consistent with that. It's great to see examples like this in the wild. I've been hearing lightning is getting greater usability and traction as well. Interesting times.