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Coinbase Cloud
- exdsq 5y agoThere goes my side project
- ohashi 5y ago99% uptime guarantee is embarrassingly low.
- judge2020 5y agoThat's nearly 4 days out of service a year with no recourse. This should be unacceptable for any financial service.
- knownjorbist 5y ago4 whole days! They'll never recover from this, right?
- exdsq 5y agoIt is shockingly bad
- knownjorbist 5y agoOnly to those firmly within the HN bubble.
- exdsq 5y agoThis is specific to the domain of cryptocurrencies and blockchains where you are dealing with decentralized networks that slash funds if you are offline for a period of time. It's a different ball game to endpoints you can let fall over and restart from time to time.
- tluyben2 5y agoYep, there are enough services that drop into maintenance mode multiple time a week. Although outside local business hours, one of my banks is in maintenance mode every night (not sure if they do backups or if it's just down and has maintenance mode as 500 screen or what is going on) and the api (psd2 ) does not work then either. Well over 4 days a year I would say and literally no one cares: people are sleeping. So sure it depends on the service but 99% or less does not matter if no one is using it anyway. That said; it is quite bad in this day and age and I really wonder what it is they are 'maintaining'.
- urda 5y agoI would be not long for this world if a service I helped maintain was down for four days.
- knownjorbist 5y agoIf so, that is a frightening indictment of the world we live in and not you as a person.
- Andys 5y ago_Should_ be, yeah. Australian banks are this bad and worse.
- TheDudeMan 5y agoThey were probably faced with decision: Release now and improve over time, or don't release now. We don't live in the time of option B. Option B is the path of ruin.
- ohashi 5y agoThat's the attitude you want from a financial service, YOLO BUILD FAST AND BREAK THINGS. We absolutely live in a time where you can engineer things well, especially at the scale of a publicly traded company. They aren't some scrappy startup desperately trying to get their first users.
- true_religion 5y agoThey’re trying to be like banks. Mine closes at 5pm sharp and all transactions stop because you can’t do fraud checks in developing countries when “fraud check” means literally sending someone physically to the point of sale to make sure it really exists.
- deleted 5y ago[deleted]
- root-z 5y agoconsidering my experience with their product, it's probably the best they could do in a realistic timeframe.
- chrisked 5y agoCompared to what? I believe it’s a great starting point compared to legacy systems in tradfi.
- lugged 5y agoNothing I like more than a cookie accept button covering half the screen that doesn't work when you click it.
- weddpros 5y agoI always thank Europe for this, makes me feel so safe. I don't risk anything when I can't even accept the cookie.
- neither_color 5y agoThe "i dont care about cookies" extension is really good on desktop https://www.i-dont-care-about-cookies.eu/ https://www.i-dont-care-about-cookies.eu/
- deleted 5y ago[deleted]
- arthurcolle 5y agoThe audacity of announcing a cloud on the same day a major breach is made public lmao
- knownjorbist 5y agoDon't we already know it wasn't actually a breach?
- arthurcolle 5y agoIf all your customers get sim swapped because you offered 2FA over SMS then it's your fault as a service provider.
- z0xz0xz0x 5y ago"all" customers? Or do you mean 6,000 out of 60m +?
- arthurcolle 5y agoEither works for the example. You should be liable for offering something that is easily exploited that affects your customers.
- JohnJamesRambo 5y agoIf that is the net you are casting that is going to be a very wide net. SMS 2fa isn’t great but there are lots of places that use it.
- arthurcolle 5y agoThey should all be liable for damages if anything bad happens as a result of account misappropriation IMO
- Consultant32452 5y ago
- teruakohatu 5y agoDidn't Microsoft Azure's blockchain platform fail? It was shutdown earlier this month [1]. How is this different and/or better? [1] https://www.siliconrepublic.com/enterprise/microsoft-azure-blockchain-as-a-service-consensys-quorum-ethereum https://www.siliconrepublic.com/enterprise/microsoft-azure-b...
- programmarchy 5y agoI think Microsoft and others like IBM failed to “get it”. They tried to adopt blockchain tech without the cryptocurrency aspect, failing to realize there needs to be a built-in incentive structure for people to participate on any blockchain network. Mining, staking, and other proof / reward systems are required for any blockchain tech to get off the ground.
- toomuchtodo 5y agoIBM and Microsoft cater to enterprises. Enterprises whose entrenched positions are challenged by decentralized systems. Centralizing a decentralized system is done either to bootstrap it (optimistic) or embrace, extend, and extinguish it (pessimistic). A corporation alone might not need a blockchain, but has no choice but to participate if that’s where the market is, and a consensus of participants (no pun intended) is who determines that technology (not corporate procurement). https://en.wikipedia.org/wiki/Embrace,_extend,_and_extinguish https://en.wikipedia.org/wiki/Embrace,_extend,_and_extinguis...
- lottin 5y agoCan you please give a single example of an enterprise that is being challenged by a decentralised system?
- deleted 5y ago[deleted]
- deleted 5y ago[deleted]
- LurkingPenguin 5y ago> Coinbase Cloud has it all. Unfortunately, I don't see the API where I get $90 million accidentally transferred to my wallet. :(
- bubersson 5y agoThe API doesn't even have support for Lightning.
- lallouz 5y ago....yet.
- qualudeheart 5y agoWill this service be using Rust?
- exdsq 5y agoI think they’re a Go/Typescript shop, but crypto does love Rust!
- qualudeheart 5y agoCardano ecosystem used to use Rust a lot. Currently moving to Haskell. Few other big ecosystems using Rust too. Imo future is more expressive rust-like languages.
- AlexCoventry 5y agoI thought they'd been using Haskellfor years, and the rust development was relatively recent.
- exdsq 5y agoYeah Cardano has been Haskell for years and some Rust for a secondary implementation of the node (Jormungandr)
- knownjorbist 5y agoPolkadot is Rust and WASM based.
- Havoc 5y agoLooks interesting. Or at least one step closer to improving access to tooling. I can totally see coin base becoming the de facto platform for this sort of stuff. Not ideal centralisation wise but oh well
- knownjorbist 5y agoFleek is basically Vercel or Heroku, but for Web3. For those with more at stake, it's probably better to go with a big player like Coinbase.
- Underphil 5y agoUnrelated, but nothing reminds me I'm getting old more than an entire sentence of words I don't understand.
- calciphus 5y agoWhen someone versions the internet it is safe to disregard the other terms in the sentence.
- astoor 5y agoIn my day, Web 3.0 meant the Semantic Web: https://en.wikipedia.org/wiki/Semantic_Web#Web_3.0 https://en.wikipedia.org/wiki/Semantic_Web#Web_3.0 .
- liveoneggs 5y agoInternet2 will come alive any day now https://en.wikipedia.org/wiki/Internet2 https://en.wikipedia.org/wiki/Internet2
- knownjorbist 5y agoWith that hard and fast rule, I'd argue that you'll be confused about what's happening for years to come.
- akudha 5y ago
- neither_color 5y agoSome of the docs are coming up blank on mobile safari, what I want to know is if its possible to hack together a payment flow a la stripe with dummy data without creating a paid account first.
- westoque 5y agoIsn't it ironic to use a REST API to send BTC vs say using what any cryptocurrency is intended for? To use their native APIs to transfer value. The aim of decentralization is to eliminate that third party but this puts it back. We've come full circle.
- base698 5y agoHaven't used it directly in forever but bitcoind had a rest API early on.
- ed25519FUUU 5y agoThe Bitcoin network supports a theoretical maximum of 7 transactions per second, so they’re probably eager to do it some other way.
- reedjosh 5y agoLightning though... Amiright!? I'm setting up a node as soon as my ssd arrives.
- polyomino 5y agoCoinbase has been the slowest to adopt new bitcoin features since they realized their business model is actually an altcoin casino.
- tedunangst 5y agoIs "as soon as my ssd arrives" the new "the check is in the mail"?
- reedjosh 5y agoHa, no I really do have one coming.
- hestefisk 5y agoYou are setting up a Lightning node? For?
- sillysaurusx 5y agoI raised $2,200 in donations thanks to Coinbase making it easy for people to donate crypto. It sounds like they want to do the same for every aspect of a business. There’s probably a lot of value in that.
- Fnoord 5y agoHow much energy was wasted this way? Why would PayPal, IBAN, or Flattr not have worked?
- dustymcp 5y agobecause they dont receive crypto..
- coralreef 5y agoIf it was a custodial service, then the amount of "energy wasted" was basically equal to any of the above.
- wallacoloo 5y agoThe majority of cryptocurrency mining is paid for by fixed inflationary rewards, not transaction fees. That means that the power used by mining isn’t directly dependent on the number of transactions being processed. When you hear “each Bitcoin transaction burns x MJ”, that’s a simplification. Custodial cryptocurrency services therefore don’t consume meaningfully more or less power than non-custodial services. They both rely on the underlying protocol remaining functional, which is where the bulk of power consumption occurs.
- collegeburner 5y agoI use crypto because the financial system does not allow me to make a transaction anonymously unless I use cash, that I can't use on the internet. Make the government remove its retarded KYC and anti money laundering laws that create state mandated invasion of privacy and I will stop. Crypto exists only because there is a demand not met by "real money". The answer is not to ban crypto but to make "real money" competitive again.
- H8crilA 5y agoWhy isn't this just called Coinbase API? What am I missing?
- eganist 5y agoits closer to a PaaS offering than just a bundle of APIs, which gives it some basis to claim the Cloud marketing moniker. Notably, https://bisontrails.co/participate/ https://bisontrails.co/participate/ (this is linked from the above and is owned by Coinbase as a subsidiary)
- H8crilA 5y agoUh, ok, the front/linked page confused me. Thanks.
- anonymoushn 5y agoIf my fund uses a thing for order entry, deposits, and withdrawals, but not for hosting (and indeed hosting for trading servers is not even for sale?), normally we would call that thing an API. I guess the "hosted validators" thing is reasonable to call Coinbase Cloud though.
- Kranar 5y agoCoinbase API is something else [1] and would be utterly confusing to use that name for this: [1] https://developers.coinbase.com/api/v2 https://developers.coinbase.com/api/v2
- deleted 5y ago[deleted]
- paulpauper 5y agofuture headline: Coinbase Cloud Breach Notification
- ionwake 5y agoNo one else find it super weird there is an announcement the same day coinbase got hacked?
- z0xz0xz0x 5y agofact check: coinbase did not get hacked
- brokensegue 5y agoA bug in Coinbase software allowed hackers to steal Coinbase users' money and private information. What else would you call this?
- knownjorbist 5y agoIf you look more specifically into what happened, you might have your answer.
- ionwake 5y agoIt was a failure in the oauth implementation in coinbase I like the way shills don’t even try to justify their untrue stances. Please correct me if I’m wrong.
- knownjorbist 5y agoOkay. Anyone can look and see that it was not that. But I guess that carries farther than an honest assessment.
- ionwake 5y agoLet me do more research and get back to you as this is the first time I’ve been accused of being a liar - I must have got some seriously wrong let’s see
- ssss11 5y agoGiven their lack of competence resolving basic user account issues, it would be a hard no from me
- NGRhodes 5y agoAgreed, I was locked out of access to my funds for months, not one human response until my complaint escalated to the Financial Ombudsman (UK), got compensation, then tried to delete my account after withdrawing all my money, raised a support ticket, then last week my account was closed with the following message: "Upon careful review, we believe your account has engaged in prohibited use in violation of our Terms of Service and we regret to inform you that we can no longer provide you with access to our service."
- ssss11 5y agoOh wow that’s bad. Mine was their screwed up identification process - I had completed it but their app wouldn’t let me view their tiny videos for the rewards. I was stuck in a support loop for months of “you need to identify yourself”, “I have”, “oh yeah you have, try the videos again” - repeat
- arthur_sav 5y agoThat's not just Coinbase. It's every neobank type app or service. The problem is that they can't handle the large volume of users while also dealing with fraud & law compliance. So they basically have fraud detection algos that flag anything remotely suspicious with many false positives and they don't have the support staff to deal with the aftermath.
- sanderjd 5y agoIt's almost like there's a good reason society invented bank regulation.
- starclerk 5y agoI was locked out of my account for 3.5 years before they worked through the queue far enough to get to me. I stopped using Coinbase long before then though.
- shp0ngle 5y agoCryptocurrencies are horrible as currencies because it’s hard and expensive to pay with them. Make of that what you will.
- latchkey 5y ago"In my opinion..."
- 0xdeadb00f 5y agoI still can't go down to my grocery store, or pretty much any outlet in the city, and pay with crypto. Until that is the case, I think it's very fair to say, that crypto currency is hard to pay with.
- kevinak 5y agoYou know who can? Anyone in El Salvador.
- 0xdeadb00f 5y agoOkay I guess?
- JumpCrisscross 5y ago> You know who can? Anyone in El Salvador. With an internet-connected smartphone with the app installed and whose neighbourhood stores are following the law. Which isn’t that many people.
- latchkey 5y agohttps://www.yahoo.com/now/over-two-million-citizens-now-143837384.html https://www.yahoo.com/now/over-two-million-citizens-now-1438... Even if we call his numbers inflated and cut his number in half, it is still 1m people.
- shp0ngle 5y ago
- latchkey 5y agoWhen twitter was younger, people would implement against their api and eventually get shut down. I can't imagine having a dependency on a coinbase api.
- x3sphere 5y agoThis seems more of a product to keep their investors happy than it does actually improving the crypto ecosystem. Feels like you lose the decentralization benefits of crypto when you are doing everything over a centralized service. I don't know how much Coinbase have abstracted things, but there's probably a fair amount of lock-in here too.
- lallouz 5y agoThe idea is to make it easier to build products without having to build the entire stack. We'll still leverage decentralized protocols.
- asjfj9 5y agoCan someone ELI5 how this is any different to what the current Coinbase API offers? https://developers.coinbase.com/api/v2 https://developers.coinbase.com/api/v2 Reading through the entire Coinbase Cloud page and even going into the Coinbase Cloud Exchange docs (https://docs.cloud.coinbase.com/exchange/docs https://docs.cloud.coinbase.com/exchange/docs) doesn't make it clear what this offers over Coinbase's current API.
- nerdwaller 5y agoThe difference of those two docs is one is coinbase.com, their more retail oriented option (picture robinhood), and pro.coinbase.com which is a more advanced trading platform (think or swim or other more mature investor platforms). The fee structures are different, order types, visualizations, etc (even though they likely use the same infrastructure for both) and they segregate a user’s accounts between the two (though you can freely transfer between the two). Another major difference is on the retail platform you’re not going to see an orderbook - just a price. All that to say, I think the main difference is access to more information about the overall market, more advanced orders, better pair selection (that usually eventually ends up on the retail platform), and the more mature financial platform. These new docs replace the previous pro/prime API docs and extend it into new products.
- adventured 5y agoThe cloud product/label is where they intend to build out a suite of service offerings. API wasn't broad enough to encompass what they intend to do next.
- lallouz 5y agoHi, Joe here, heading up Coinbase Cloud. tldr; this is our first step in providing a full set of API based services to build crypto applications and unifying the existing APIs that exist. Importantly, this will go well beyond interacting with Coinbase existing products and provide tooling needed to make it easier for developers to build new web3 applications.
- sergiotapia 5y agoSee also: https://www.quicknode.com/ https://www.quicknode.com/
- rikkipitt 5y agoI'm interested in the Coinbase Commerce as an option for my SaaS, sadly they don't seem to support recurring payments out of the box. Does anyone know if they might be offering this functionality in the future?
- chrisked 5y agoThe answer is most certainly yes.
- arthur_sav 5y agoSeems they forgot to write the documentation lol https://docs.cloud.coinbase.com/exchange/reference/market-feed https://docs.cloud.coinbase.com/exchange/reference/market-fe...
- notyourwork 5y agoDocumentation was linked to here from main page: https://docs.cloud.coinbase.com/ https://docs.cloud.coinbase.com/ Not sure where you found that other link but sort of embarrassing to have that publicly exposed.
- arthur_sav 5y agoI just searched for 'commerce' in the main documentation and voila
- lallouz 5y agoIt happens, we're not perfect ¯\_(ツ)_/¯
- barmstrong 5y agoCoinbase CEO here. Thx for mentioning it, we’ll get that fixed. This is an early release from us and I would expect there to be a few quirks. Please keep sharing any feedback.
- mensetmanusman 5y agoThoughts on https://news.ycombinator.com/item?id=28588896 https://news.ycombinator.com/item?id=28588896 ? Non-techie Family member got scammed with this last month and lost $4k ETH while using coinbase. Thought I would let you know since it seems very common at the moment, might be worth having an alert to users not to send ETH to anyone who says they will 2x their coins. Cheers,
- idiotsecant 5y agoI'm not sure it's coinbase's responsibility to tell users not to run with scissors. Anyone who thinks sending money to random links they see on the internet that are promising to send them more money back for free probably shouldn't be entrusted with managing money.
- crazypython 5y agoThis imposes a centralization externality on blockchains. Putting a validator node in Coinbase Cloud makes that blockchain more centralized by giving Coinbase control over a large number of validator nodes.
- deleted 5y ago[deleted]
- fidesomnes 5y agoAnd the winner for the worst idea of the year goes to Coinbase.
- drummer 5y agoYes put everything in their cloud where the IRS criminals have full access. Satoshi as wel as the cypherpunks definitely approve.
- bob229 5y agoCrypto is trash
- simonebrunozzi 5y agoSo much for decentralization.
- d0gbread 5y agoThis service doesn't prohibit decentralized services from existing and evolving? Cue why not both gif.
- dschlossman 5y agoCool, didnt realize coinbase acquired bison trails
- lallouz 5y agoyep.
- deleted 5y ago[deleted]
- deleted 5y ago[deleted]
- earthwallet 5y agoAwesome, we're looking for a multi-chain version of infura at earthwallet.io! Sounds like exactly what we need on the Coinbase Cloud page, but it's a bit tricky to find the docs for this type of application. Definitely a great idea though, hopefully we can make it happen!
- jefflombardjr 5y agoDoesn't this further centralize something that's supposed to be decentralized?