I have recordings proving Coinbase knew about breach months before disclosure

Once did some programming/networking work for a company that did the networking of a office sharing building that Coinbase was running out of. Early in my work there I noticed that the company had its admin passwords written on a whiteboard -- visible from the hallway because they had glass for walls. So I sent them an email to ask that they remove it (I billed them for it).

Their fix was to put a piece of paper over the passwords.

What a time.

This doesn’t surprise me at all.

Bitcoin, and really fintech as a whole, are beyond reckless.

Bitcoin is a crypto-currency/blockchain. Coinbase is a corporation that allows users to buy/trade crypto-currencies.

With Bitcoin you do not get government bailouts like what happened with the beyond reckless banks in 2008.

> With Bitcoin you do not get government bailouts like what happened during the beyond reckless banks in 2008

It is not beyond imagination that the most popular Bitcoin blockchain (and thus, the label of being the "real" Bitcoin) could change at some point in the future.

"Bitcoin" is not immune from the implications of political fuckery.

Bitcoin has forked a few times it's creation: https://en.wikipedia.org/wiki/List_of_bitcoin_forks The determining factor for which fork is successfully is bases on the Bitcoin node runners and miners choosing which fork they devote their resources to.

Governments around the world are 100% attempting different plans to destabilize or destroy Bitcoin because it harms their interests and ability to print money from thin air. But at the end of the day it's a distributed ledger, so even if they do find a way to manipulate or damage or takeover the network the Bitcoin users can just fork it from before they did their damage and continue from there. That is the ultimate power of a decentralized blockchain, nobody has ultimate power and everyone votes with their resources.

If anything, the real risk of BTC isn't governments destroying it.

It's that everything you do on the blockchain is there forever, so if a government needs you in jail for using it, they can show you were involved in a financial crime and the blockchain proves it... And if you are unwilling to give up your public wallet they can keep you in jail indefinitely until you do.

Bitcoin is pseudonymous, not anonymous. Every activity on the network is encoded into a perpetual auditable dataset, by design.