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How did he follow thru with his vision? Read his other comments to get better picture - he was angry at the system of Credit Cards, PayPals etc that charge outr

How did he follow thru with his vision? Read his other comments to get better picture - he was angry at the system of Credit Cards, PayPals etc that charge outraged fees just to be able to use their network. He wanted to build network that performs exchange at zero fee. Instead, he ended up building and owning one of the most expensive crypto exchanges in the USA. Sure props to him to pull it off, you don't get net worth of $20B by accident or pure luck... but in terms of his vision of the world more united where it is easier to send and receive money without paying outrages fees, he definitely failed on that promise.

smnplk 6y ago
>> but in terms of his vision of the world more united where it is easier to send and receive money without paying outrages fees, he definitely failed on that promise. << It was Bitcoin that failed to deliver that promise, not him.
- seriousquestion 6y ago
  Or both. Bitcoin and Coinbase each have outrageous fees.
  - spurdoman77 6y ago
    Depends on the kind of transaction you are doing. For bigger transactions it is actually nice not having to pay percentual fee as with Bitcoin. However with coinbase I believe they are high percentually.
  - spacedude99 6y ago
    You can easily buy fee free on coinbase if you use buy orders instead of market buys.
    - swensel 6y ago
      This changed in 2019 (https://ethereumworldnews.com/end-of-coinbase-pro-introduces-maker-fees-and-no-market-order-stops/ https://ethereumworldnews.com/end-of-coinbase-pro-introduces...). At this point, there is no way to trade for free on Coinbase or Coinbase Pro. However, maker orders do still have a lower fee vs taker orders on Coinbase Pro, depending on the pricing tier / how much you trade per month (https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/fees https://help.coinbase.com/en/pro/trading-and-funding/trading...).
  - svet_0 6y ago
    You can pay 1$ for a BTC transfer, so outrageous.
    - FabHK 6y ago
      I recently paid $50 for a BTC transfer, and it took 16 hours to get into a block.
swensel 6y ago
A lot of the US crypto exchanges have high fees. They can get away with it due to US laws preventing US citizens from legally trading on asian exchanges, which have much more competitive fees (i.e. Binance.com, not Binance.US). Gemini has even more ridiculous fees than Coinbase. Also if you use Coinbase Pro, which is more like a stock brokerage account for crypto, you get a lot better fees than Coinbase.com. Gemini also has an equivalent to Coinbase Pro, except they call it ActiveTrader. Kraken, another reputable US crypto exchange, has decent fees in general. US securities laws are preventing US citizens from getting the best deal and US crypto exchanges are getting away with higher fees based on that.
callamdelaney 6y ago
Now he charges 4% each way to buy and sell bitcoin..
codyZ 6y ago
I regularly tell people this - that Coinbase really could have "died being the hero" but instead has "lived long enough to see yourself become the villain"

smnplk 6y ago

>> but in terms of his vision of the world more united where it is easier to send and receive money without paying outrages fees, he definitely failed on that promise. << It was Bitcoin that failed to deliver that promise, not him.

seriousquestion 6y ago
Or both. Bitcoin and Coinbase each have outrageous fees.
- spurdoman77 6y ago
  Depends on the kind of transaction you are doing. For bigger transactions it is actually nice not having to pay percentual fee as with Bitcoin. However with coinbase I believe they are high percentually.
- spacedude99 6y ago
  You can easily buy fee free on coinbase if you use buy orders instead of market buys.
  - swensel 6y ago
    This changed in 2019 (https://ethereumworldnews.com/end-of-coinbase-pro-introduces-maker-fees-and-no-market-order-stops/ https://ethereumworldnews.com/end-of-coinbase-pro-introduces...). At this point, there is no way to trade for free on Coinbase or Coinbase Pro. However, maker orders do still have a lower fee vs taker orders on Coinbase Pro, depending on the pricing tier / how much you trade per month (https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/fees https://help.coinbase.com/en/pro/trading-and-funding/trading...).
- svet_0 6y ago
  You can pay 1$ for a BTC transfer, so outrageous.
  - FabHK 6y ago
    I recently paid $50 for a BTC transfer, and it took 16 hours to get into a block.

swensel 6y ago

A lot of the US crypto exchanges have high fees. They can get away with it due to US laws preventing US citizens from legally trading on asian exchanges, which have much more competitive fees (i.e. Binance.com, not Binance.US). Gemini has even more ridiculous fees than Coinbase. Also if you use Coinbase Pro, which is more like a stock brokerage account for crypto, you get a lot better fees than Coinbase.com. Gemini also has an equivalent to Coinbase Pro, except they call it ActiveTrader. Kraken, another reputable US crypto exchange, has decent fees in general. US securities laws are preventing US citizens from getting the best deal and US crypto exchanges are getting away with higher fees based on that.

callamdelaney 6y ago

Now he charges 4% each way to buy and sell bitcoin..

codyZ 6y ago

I regularly tell people this - that Coinbase really could have "died being the hero" but instead has "lived long enough to see yourself become the villain"