Tuesday, December 30, 2014

Coinbase Is Tracking How Users Spend Their Bitcoins

The company seems to be tracking what their customers are buying with Bitcoin and closing any accounts involved in transactions that the company objects to, reports CoinTelegraph.com...

Coinbase has been banning user accounts that send Bitcoin to gambling sites, even though online gambling is not illegal. One Reddit user also complained that coinbase banned his account for allegedly purchasing cannabis products with coins purchased from the service.

Bitcoin is NOT a libertarian alternative currency.

(ht Smaul gld)


  1. Not surprising at all.

    So you decided to make purchases with a system that uses a public transaction record and
    then you hire an overlord, hand them your wallet to help you along and then you complain that
    they are nosing into your business...? YOU ASKED FOR IT FOOL!

  2. Whoa, you mean a custodian account Bitcoin bank is tracking customers and you can still hold your own Bitcoin in complete anonymity if you don't use services like Coinbase?

    Man, it's a good thing dollars don't force you into legacy banks that track your every transaction and provide records to the IRS at the drop of a hat, otherwise I'd think this is a case of massive hypocrisy.

    Bitcoin is as agorist as you want it to be. But, maybe you're too old to be expected to learn about basic data security technology.

    1. Yup, Wenzel is a complete luddite. He's never understood bitcoin from the very beginning. Bitcoin can be as anonymous as gold. You buy with cash and you sell for cash. If you buy gold with a check or credit card, it can be tracked too. But Wenzel is a goldtard, so he hasn't figured this out yet.

    2. So in other words you are saying that cash is the key to anonymity?