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> I don't see how I have more control if coinbase hold my crypto and sell it for me when I buy something compared to just having money at a bank. Can you trans
by dwild 8y ago
> I don't see how I have more control if coinbase hold my crypto and sell it for me when I buy something compared to just having money at a bank.
Can you transfer it using the Bitcoin network? That's when you get your control back. Personally I consider that you should also always try to keep the least amount of Bitcoin possible, and to always keep it to yourself, not on an exchange.
To me also cryptocurrencies aren't a way to keep something either, it's a way to transfer value.
Why not just having money at the bank? Funnily enough I would say that you should actually keep it there and if you actually need to make a payment using Bitcoin, simply find a quick way to transfer that money to Bitcoin.
Cryptocurrencies are amazing to transfer value virtually. They aren't there to replace cash, they are there to allow you to transfer value outside of real life. It's there to allow you to do what you do in real life with cash, but on the internet. Sure Venmo allow you to do it, but I can't have a Venmo account, but everyone can have a Bitcoin wallet and exchange from it.
- IanCal 8y agoThe released product here seems to be the exact opposite of what you are suggesting. 1. Storing value as Bitcoin 2. Storing it on an exchange 3. Doing the actual transaction using traditional methods
- dwild 8y agoThey allow it.. for sure. The same way that I wouldn't suggest you to hold all your cash over an investment account. They need to allow some holding, or else what else would you transfer? Nothing can be ideal either, but the closer you get, the better it is.