@izakaminska They are all on the blockchain, it is just the "cold storage" ones have the private keys offline. But the point still holds...
Coinbase insures only 3% of deposits, leaving all "off blockchain" deposits uninsured, but spins this as a positivehttp://pando.com/2014/08/28/coinbase-surprises-with-news-of-a-year-old-deposit-insurance-program-but-what-of-its-cold-storage/ …
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@polemitis but Coinbase also openly internalises transactions. That's what I mean. So those coins ain't my coins even if they're on block -
@izakaminska that is also correct. you are basically a Coinbase creditor, probably unsecured from what I can tell. -
@polemitis Coinbase just pursuing aim of becoming the Goldman Sachs of Bitcoin. Another example of how it's just replicating current system -
@izakaminska it is an interesting horse race between the two, both philosophical and market-based. -
@polemitis not philosophical really. It replicates current system coz current system emerged from private currencies in exact same way
End of conversation
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@izakaminska silly thing is exercise basic web safety and your bitcoins are safe, no need to use CB to store them http://www.stealmywallet.com/Thanks. Twitter will use this to make your timeline better. Undo
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