First of all, for everyone who read my post last week, I am happy to report that Steemdollar.com is back up, since last tuesday at least.
Steemdollar.com may not give the most detailed information about steem price, but when all you want is an at-a-glance checkup of where it's at, you could not ask for better.
But, unfortunately, a more pressing issue has come to light this week.
Let's talk about Coinbase.
I have stood by Coinbase for a long time, and on occasion defended it.
However, I cannot deny that the company has been a problem and is getting worse.
It starts with the fact that Coinbase sets the transaction fee for Bitcoin unnecessarily high, which causes the average fee of all transactions on the network to be higher, costing millions to the Bitcoin network.
That Coinbase also was one of the most influential entities pushing for a block size increase, while at the same time refusing to adopt second-layer solutions like SegWit, demonstrates a hypocrisy within the company.
But most shocking of all was the revelation this week that the long-running spam attack against the Bitcoin network was coming from Coinbase itself. This was revealed when the site went down for a time this past week, and the spam attack stopped at the same moment, then restarted at the moment the site went back up.
That such an attack could happen on Coinbase's platform without its knowledge, and even without its direct control, would be unthinkable.
Coinbase.com is a wolf in sheep's clothing. They are trying to sabotage the Bitcoin network, and action needs to be taken by the larger Bitcoin community to let them know their nonsense will not be tolerated.
Is it too late for Coinbase?
It is not too late for the company to turn themselves around. Coinbase has many good qualities, with a simple face that makes it a good starting point for people who are getting into cryptocurrency. The things about it that are useful are still useful.
But it's on thin ice. The community is united against the idea of network spamming, and a mass exodus would be, in my estimation, appropriate. If Coinbase wishes to prevent such a departure, they must stop attacking the network immediately, as well as adopt SegWit and Lightning.
Otherwise, the community will abandon them, and then they shall go the way of CompuServe.
@talanhorne,
Actually I didn't know about this! It seems like coinbase is a problem! Anyway I moved to coinpayments.net! Atleast they are trying to do a honest business! Thanks for letting this know!
Cheers~
informative post my friend keep it up
yes that true thank you so much @talanhorne your post it help us a lot thanks for sharing god jobe :)
current price of steem dollar is not bad & thanks for this information
Present its 5.6 usd bro 1sbd equal to..so its not a good rate..it will become 10usd in few days later..so wait for some days to sell to get more profits..who want to buy.
thanks for updating my friend keep it up
That is great information.
@talanhorne
Resteem
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Best wallet is coinbace . great information sir.
For your post propagation.
Upvote/Resteem
Congratulations @talanhorne
Now you are in the MinnowsPower Loyalty Member List...!!!
Exceptional article with useful information to all STEEMIANs...!!!
15% Upvoted by @MinnowsPower
Thanks for the information, it is very valuable and thanks for sharing
Thanks @talanhorne
Have a great day
@talanhorne - Sir until I read your posts I was truly believed Coinbase is doing a good business... Thank you for sharing this info Sir...
+W+
even those good qualities are missing now they are messing up the stystem
Thanks for the update of coinbace. very important information
100 % like and resteem
talanhorne...yeah brother not just the coin base present all the trade wallets are taking high expense for the exchanges .coin base is a one wallet which has a great deal of coin wallets to trade effortlessly to one coin to another coin in few days back there is no transistion feeses for the coin base through trades however show all wallets taking more charges to trade the coins ..not just coin base.block merchants and furthermore some different exchangers additionally take gigantic ammounts to trade ..here another issue is likewise rhere isn't correct rate ..the rate is likewise minimal low contrasted with the live rate....thank you for imparting information to us..
Coinbase to me is a lot of trouble too i can't send funds but they need to improve
What they do no one can guess i use that just for transfers but i think not going to use it for long
Very useful information. thanks for sharing
Upvote Resteem
@talanhorne
i too stood for them but sometime it just gets too much
Wow Day by Day Bitcoin price is going to high. Steem coin also get high price.It's too good for our life . Because Many peoples are depend on That.
informative post upvoted + resteemed done
their users increased overnight and they can't even help users may be that's the problem of the core
You are absolutely right, the actions of the Coinbase are, to put it mildly, strange and such behavior in the market is not permissible! Thank you @talanhorne
so all the complexion in the network is due to coinbase
Omg...sadness...I used coinbase too. I guess Coinbase would be better and will fix all problem. Thanks for update @talanhorne.
Appears as though they are doing some imprudent things of late. Indeed, the way that Coinbase is a decent beginning stage for new comers to crypto enables them to do whatever they need, so it appears. In any case, on the off chance that they continue doing it, they'll fasten themselves up the long run...
Thanks for the information and very useful
Resteem
Until I read this post I thought Coinbase is the best. But I got mix feelings. Nice review~
Yes, coinbase has huge transaction fee. It's not worthy to use.
superb post
I like your post,thanks for sharing
have a pleasant day
Resteemed
good topic sir. Thanks for sharing informative post.i like your post and following.
coinbase is cool hope it will get better with time and thanks for telling about steemdollar site finally working back
Hello @talanhorne,
Extraordinary good update & valuable post. Hope they will stop these dirty works now.
~@mywhale
very informative post & impressive review of the problem. @talanhorne
@resteemia
resteemed & upvoted & commented & followed
It is never late I think :) thanks for information. Keep going..
With $ 116.5 million, I found it to be absolutely reliable as one of the most invested formations of BitCoin's history. But I agree with your remark. It is not like the old one. @talanhorne
I will follow to you sir :)
Seems like they are doing some unwise things lately. Well, the fact that Coinbase is a good starting point for new comers to crypto allows them to do whatever they want, so it seems. But if they keep doing it, they'll screw themselves up in the long run...
nice post
i am not using coinbase for a long time now they are getting worse
Thanks for update us given important details.
Valuable post sir!
Thanks @talanhorne sir for sharing this post.
Have a wonderful day!!
Upvoted and Resteemed your post.😊
Great and valuable information sir.
Thanks @talanhorne sir for sharing this post.
Upvoted and Resteemed your post!!☺
really nice post.i like your post sir
Well, High bitcoin transation fees is a big problem. Can't we exchange our steemit funds with low fees coins like Litecoin instead of Bitcoin?
@talanhorne... not only the coin base present all the exchange wallets are taking high fee for the transactions .coin base is a one wallet which has a lot of coin wallets to exchange very easily to one coin to another coin in few days back there is no transistion feeses for the coin base through exchanges but present all wallets taking more charges to exchange the coins ..not only coin base.block traders and also some other exchangers also take huge ammounts to exchange ..here another problem is also rhere is not exact rate ..the rate is also little low compared to the live rate....thank you for sharing info with us..
Thanks for the important info
that was very informative post , just keep posting such topics it helps alot!!
Thank you for this informative post, Really helpful and well written @talanhorne
Important Update news.