4 ms·
>To see thousands of Americans who can't afford to lose their savings lose it to Coinbase due to wilful negligience, incompetence. This is a weird take. Coinba
by axg11 4y ago
>To see thousands of Americans who can't afford to lose their savings lose it to Coinbase due to wilful negligience, incompetence.
This is a weird take. Coinbase isn't perfect but I don't see this as a valid criticism. Coinbase are equally responsible for thousands of Americans becoming richer than they ever dreamed of by providing them easy access to the crypto world. Coinbase is a trading platform, losses and wins are to be expected.
- usrn 4y agoThere are much worse things too. At least with crypto you only lose as much as you put in. Adjustable rate loans can (and do) completely wipe people out. I'd argue those are far worse than pretty much anything in crypto. EDIT: As of a month ago they still do (at 2x anyway.) Also that still has a ceiling on it. Yes if you leverage your entire life savings you can get in trouble but at that point I don't think it matters what you're securing the loan with, that's just extremely irresponsible. And again, it's the debt that's causing the issue.
- kube-system 4y ago> At least with crypto you only lose as much as you put in. Coinbase has previously offered leveraged accounts, where you could lose up to 3x what you invested.