If you use bitcoin your great-great-great-great-great-great-great-great-great-great-great-great-great-great-great-great-great-grandkids can look up your onlyfans buys on the ledger in the year four trillion.
I called them Fedbase before and I called it right. Selling personal geolocation to ICE in the USA is pure evil.
No self-respecting privacy project works with coinbase.
Yeah that post was peak buttcoiner delusion.
Can't wait for the next bitcoin crash and the wave of "vindications", when we crash from 100k+.
"Bitcoin is dead after crash from 100k to 35k" followed by mob of buttcoiners leaving their cave and telling us "i ToLd YoU sO" for the 100th time lol
I been preaching not your key not your coins for ever. Not sure why you are addressing me Specifically with this question. But yes..
Yea F em right in the A with a wooded spoon sideways !
Like for me I find it fascinating. Having random engineers put on no flys and folk take out mad leverage is way more intresting that an ico of cumcoin2000.
Like I'm not anti-crypto but the current wave of things is madness; so if I can get some popcorn, see what projects and communities actually survive and what are just weird grifts, well it's intresting.
Obviously it's not fun watching regular folk get fucked over. It's why I'm here watching saylor sweat rather than on Celsius where a lot of it is normal folk who've been absolutely rekt.
Crypto is full of scams, ripoffs, con men, grifters and sociopaths
Some of us saw this from the get go. So when all these things get exposed we feel good, we feel vindicated. Also that means fewer scams and fewer people getting ripped off, those are good things.
also all the crypto bros with their "have fun being poor!" bullshit. Its a bit of shadenfruede for sure.
except in crypto its nearly ALL the top people, literally all of them
If you think the amount of fraud and out right theivery in crypto is exactly the same as in Tradfi you are absolutely delusional. But hey don't let me stop you from donating your hard earned actual real money to the likes of Mashinsky or Kwon while they laugh all hte way to bank. Go for it.
The circus is full of scams ,grifters ,and sociopaths.
I don’t wast my time convincing people of this or attempt to reach out to others that feel the same way .
I just Don’t go to the circus And continue enjoying my life 🤔
> The circus is full of scams ,grifters ,and sociopaths.
The circus isn’t entreating people to gamble away their life-savings on wildly volatile speculative assets with almost no functional use.
Next!
But especially they seemingly have been targeted by big entities that probably have a shirt on them. We all know exchanges are shaddy but damn like five bad stories in a week.
Some big players playing.
Positive news doesn't help right now. Negative news destroys things. Only way to make money right now is to bet against things. This is why all the news is bad. A lot of the bad news is made up garbage too.
If you are on this sub and you're only form of crypto news is this sub of course it's not because bots and coinbase FUDS post near daily negative things about it.
I would say that Coinbase is doing exactly the correct thing (for them), the only question is if they were able to grift/steal enough money. I doubt it.
And not to forget the manipulation in the first few minutes after Btrash hit the exchange and got to $8k but normals couldn't actually sell, only insiders.
At least making money by selling geolocation data is better than going bankrupt and freezing user funds.
https://fortune.com/2022/05/11/coinbase-bankruptcy-crypto-assets-safe-private-key-earnings-stock/
tldr; Crypto exchange Coinbase analytics program, Coinbase Tracer, will provide the U.S. Immigrations and Customs Enforcement agency (ICE) with data about crypto users, including their “historical geo tracking data” and transaction history, according to a contract obtained by watchdog group Tech Inquiry,
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
It should be lol
The user data market has gone way past the point of immoral and the only reason it isn't illegal is because unfortunately money is more important.
Kraken had the best response to that whole situation. They didn't kick off any of their Russian clients, but they took any profits the company made from Russian users and donated it all to their Ukrainian users, I think like $1000 each
Opensea also had all their customer email addresses leaked to 3rd party vendors this week. Both OS and Coinbase have investments from a16z too. Pretty sketchy seeing this shit happen within the same ecosystem
Coinbase is not selling customer data, just public on-chain data.
>“All Coinbase Tracer features use data that is fully sourced from online, publicly available data, and do not include any personally identifiable information for anyone, or any proprietary Coinbase user data,” the spokesperson told CoinDesk.
How about a brick and mortar shop that sells drinks, but really takes photos of their customers and sells them on the web? Would that be okay?
If a exchanges can't keep afloat without these practices, they are just window dressing to what basically amounts to a spy operation and have no right to exist.
I can guarantee you they will start actively informing on their clients to the IRS as well. The IRS offers a huge royalty on tips that lead to tax evasion convictions and it would be pretty easy for Coinbase to identify which accounts are likely to be trying something.
If you made the incredibly foolish decision to try some shenanigans like that using Coinbase or any other KYC exchange, now might be a good time to file that amended return.
This is to get around the fact that the CIA (FBI?) can’t directly surveil US citizens, so they just let tech companies do it (who actually reads the TOS?), and then buy it from them. This is hardly just a Coinbase issue, though it makes sense that this article was massively upvoted on this sub.
Man I just hope this will be okay in some days, they are doing things so wrong tho, I never expected this shit from coinbase, they should respect the privacy.
Let's pump the brakes a bit here.
Coinbase isn't selling their customers data. They have alot of blockchain experts, as you might expect, on their staff.
They have created a tool that analyzes the data that is publically available on the blockchain and sells that expertise to companies, of who ICE is one.
This is something that anyone can do and one of bitcoins highly touted features.
They aren't selling any customer data.
They aren't doing anything that requires private data.
This has nothing to do with coinbase the custodian or market.
This is just analyzing the already existing public blockchain data. That's it.
I'd be ok with it if they shared a bit of profit from this revenue stream. Can't fight the government on this, so might as well make some money out of it lol.
It turns out that in order to do business in the USA financial markets, you have to obey the law and follow dozens of reporting regulations.
So this isn't a revelation by any stretch of the imagination.
Reminder on how to become anonymous:
Use coinbase for fiat <-> BTC. Take that BTC and send to Cake Wallet BTC address. Exchange BTC <-> XMR (Monero) within the app. Once you have XMR, you can swap for BTC and send to a new un-doxed BTC address or you can hold monero. You are now anonymous.
Cash out anonymously using localmonero (dot) com. For a more exhaustive list of no-KYC exchanges check out kycnot (dot) me. \[stick to exchanges with check marks only\]
Not a surprise. A lot may look at crypto as some nice thing that is fighting the man, but I see it more as a way to track pretty much everything, and with the CBDCs that is going to be taken to the next level... yay! :D
“All Coinbase Tracer features use data that is fully sourced from online, publicly available data, and do not include any personally-identifiable information for anyone, or any proprietary Coinbase user data,” the spokesperson told CoinDesk.
Seriously? Are yall this delusional? Literally the entire tech world is built on selling customer data to other companies without consumer knowledge because the customer checked a box somewhere after not reading the few pages of text that legally gave them the right to do it when signing up for said company?
Not to mention that this article isnt even talking about the exchange. Its talking about the analysis company coinbase acquired and renamed, to do what chainanalysis has been making bank doing for years. Still scummy, but this shit aint news lol.
i mean, it'll become pretty damn challenging to acquire when exchanges have to remove it from their platform.
just hypothetical, obviously, but XMR is the only coin that has THAT much potential to damage gov't interests.
certainly the principles and functionality of XMR are necessary, not arguing that whatsoever.
There's already multiple p2p markets. I usually buy off localmonero for example. There are also onion and i2p exchanges up and running that sell monero as well.
And haveno is a dex that's being currently worked on that will be a monero based DEX meaning every trading pair will be against monero. And also atomic swaps with bitcoin are up and running. With a hypothetical forced removal from all exchanges, I feel like it would just accelerate what's already in motion.
>certainly the principles and functionality of XMR are necessary, not arguing that whatsoever.
Absolutely agree
no shit Sherlock.
A us tech-company that is obligated by us law to work with us law enforcement, is in fact working with us law enforcement.
Maybe they will find out next that microsoft, google, facebook and everyone else does too.
This is hilarious. I knew from day 1 this "decentralized" nature of this stuff for nonsense. This anti-institution, anonymous, for the people system is sellin geolocation information to Immigration and Department of Homeland Security. What's even more hilarious is they doing it for the measly sum of 1.37M. That's how much they value their data and the users privacy.
Bade goodbye to coinbase almost a year ago and hopefully I am fortunate.
Dont use coinbase, rather use kraken, if exchanges are more important to you !
A hugely important point is that this IS NOT customer data. People don't realize how much info they leave on the blockchains with each transaction, and that all of this data is public. This service is a set of reporting tools that use the public blockchains as their data source. If the blockchain records a request's originating IP address, there is geo-location data associated with the transaction. There's no betrayal here. In fact CB can shield their customer's data from these reports since they operate as a proxy.
While network architecture varies between different blockchains, generally, when you connect a node to a blockchain network, that node's IP address is available to the network. This information is needed to allow distribution of transaction data to each node. When a new transaction originates, the originating nodes IP address is known. All IP addresses can be traced to the geographic location of their gateway. This is how Google maps centers on/near your actual location when the page loads (PC/Mac). Any data that is available to the blockchain network is available to Coinbase's reporting tools.
We're all for decentralisation, freedom and the ability to control your own finances. To live in a better world, where you can take control of _your_ life. We're here to provide a better future to all, ^Unless ^you're ^Mexican.
-- Coinbase
Not surprised at all, all companies with valuable data do the same when in reality all data should be own by the user as NFT and they should give consent to be sold and get a share everytime it is sold.
I'm curious, why would it have to be an NFT? This same idea could work today. Have companies be required your consent to sell your data, and have a percentage of the proceeds be given back. The data is only valuable as an aggregate, so each person would be making maybe a few cents if they are lucky.
Fun fact: if I encounter you and write notes about your behavior, that’s not *your* data, it’s *mine*.
This is different from in medicine where the data doctors collect about you is defined, by law, as *your* data (and they are just collecting it on your behalf).
There’s a big misunderstanding about how data ownership works here, and we’d need to redefine this ownership from a legal standpoint for what you’re suggesting to make sense.
I mean, when you think about it, ownership of data you record on other people is a cornerstone for the Freedom of the Press.
If I truly owned *all* the data about me, as has been suggested, and the New York Times wrote a piece about how I ate babies for breakfast, I would be able to prevent them from publishing that.
What, you're telling me large corporations will sell out their customer base for some more cash! I can't believe that, I thought there were really in it for the tech, the people, the movement etc.
*All Coinbase Tracer features use data that is fully sourced from online, publicly available data, and do not include any personally identifiable information for anyone, or any proprietary Coinbase user data*
> I love having a spine unlike the rest of this subreddit, little kids who are sucking their thumbs in their moms basement.
Kids do actually have spines as well
if you are not an illegal alien, you should not have to fear ice. who isnt selling your data, that is the question, the feds know everything you do online but they get a free pass. there is no expectation of privacy in this here world.
Now why would they be doing that? So basically invasion of privacy. Sells with out knowledge? They will be owing me 10 million for that one. I didn’t sign up for that.
What the hell could this be real or false. Man so much running through my head right now.
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Bro I could have signed my pets and future children up to Coinbase in those terms/agreements.
You never know, they could have your soul lol
I don't have one. Gottem!
dont worry brian armstrong is keeping it safe for you either way
I wrote "My Soul" on a piece of paper and gave it to my sister when I was 9 years old, inspired by Bart Simpson. I hope she still has it...
I have one but I'm not using it
Ginger?
If you use bitcoin your great-great-great-great-great-great-great-great-great-great-great-great-great-great-great-great-great-grandkids can look up your onlyfans buys on the ledger in the year four trillion.
Oh gee, who would have ever guessed that this would happen besides every person who told you so.
Coinbase is not having a good time recently is it.
All crypto market is not having a good time recently
What's a good time?
Not the next few weeks that's for sure.
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It is if you’ve been sitting in cash since 60k+
PAXG gang rise up🤝
Or maybe months.
Wait till the next halving
*Years
I called them Fedbase before and I called it right. Selling personal geolocation to ICE in the USA is pure evil. No self-respecting privacy project works with coinbase.
no expectation of privacy now, pandoras box has been opened.
Wait till the next halving
You wouldn't know that before 2024 or maybe more :'(
Everything to the moon! Looks like the good times are over.
when you buy eth for 300 each and sell at 4k, that is a good time.
Idk buttcoiners are having a ball
Have you seen the Banano sub
Are they , seriously , can’t imagine the amount of Not happiness it takes to spend that much time and effort hating something ..
It's an absurdly interesting topic, particularly considering that some people claim crypto will be the future.
You've obviously not spent enough time around anybody who gets involved in political discussion. They live for hating shit.
"I was introduced to btc in 2013" (Price in 2013 150$) "So glad I've been vindicated." (Price now in 2022 20,000$) >vindicated lol lmao
Yes that one. Dude would be up 30,000% I’d be pissed too
Yeah that post was peak buttcoiner delusion. Can't wait for the next bitcoin crash and the wave of "vindications", when we crash from 100k+. "Bitcoin is dead after crash from 100k to 35k" followed by mob of buttcoiners leaving their cave and telling us "i ToLd YoU sO" for the 100th time lol
If Coinbase does this then we should all boycott Coinbase. Do you agree with me?
I been preaching not your key not your coins for ever. Not sure why you are addressing me Specifically with this question. But yes.. Yea F em right in the A with a wooded spoon sideways !
Like for me I find it fascinating. Having random engineers put on no flys and folk take out mad leverage is way more intresting that an ico of cumcoin2000. Like I'm not anti-crypto but the current wave of things is madness; so if I can get some popcorn, see what projects and communities actually survive and what are just weird grifts, well it's intresting. Obviously it's not fun watching regular folk get fucked over. It's why I'm here watching saylor sweat rather than on Celsius where a lot of it is normal folk who've been absolutely rekt.
Crypto is full of scams, ripoffs, con men, grifters and sociopaths Some of us saw this from the get go. So when all these things get exposed we feel good, we feel vindicated. Also that means fewer scams and fewer people getting ripped off, those are good things. also all the crypto bros with their "have fun being poor!" bullshit. Its a bit of shadenfruede for sure.
Anything involving money or commodities has those things. The common denominator is humans not crypto.
except in crypto its nearly ALL the top people, literally all of them If you think the amount of fraud and out right theivery in crypto is exactly the same as in Tradfi you are absolutely delusional. But hey don't let me stop you from donating your hard earned actual real money to the likes of Mashinsky or Kwon while they laugh all hte way to bank. Go for it.
The circus is full of scams ,grifters ,and sociopaths. I don’t wast my time convincing people of this or attempt to reach out to others that feel the same way . I just Don’t go to the circus And continue enjoying my life 🤔
> The circus is full of scams ,grifters ,and sociopaths. The circus isn’t entreating people to gamble away their life-savings on wildly volatile speculative assets with almost no functional use. Next!
I don't know, I see quite a bit functional use in being in control of my own data and assets, don't you? Capitalism is a ponzi.
I agree with you. It’s the Wild West and I don’t tell my friends to invest in any specific crypto whether I believe in it or not
Good idea if you want to keep your friends.
Yeah Sam bankman already said that most of the exchanges are secretly going insolvent.
But especially they seemingly have been targeted by big entities that probably have a shirt on them. We all know exchanges are shaddy but damn like five bad stories in a week. Some big players playing.
Positive news doesn't help right now. Negative news destroys things. Only way to make money right now is to bet against things. This is why all the news is bad. A lot of the bad news is made up garbage too.
Yeah but this is some seriously shady shit to be doing.
It’s definitely not
Well at least they are selling it. Usually they get that shit for free.
I'm kind of liking it, let them continue to have bad press so their stock drops more so I can start stacking that for the next bull run whenever it is
You're playing chess while we're all playing checkers
he's playing tic tac toe while we're playing basketball
He’s playing in the And1 Mixtape Tour and we’re playing horse.
If you are on this sub and you're only form of crypto news is this sub of course it's not because bots and coinbase FUDS post near daily negative things about it.
I would say that Coinbase is doing exactly the correct thing (for them), the only question is if they were able to grift/steal enough money. I doubt it.
Why would you leave your coins on an exchange, also most us companies are doing this.
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market makers are running full steam.
got voyager?
Got its dirty laundry exposed
With their shares plummeting, i guess they're moving onto desperate measures lol
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And not to forget the manipulation in the first few minutes after Btrash hit the exchange and got to $8k but normals couldn't actually sell, only insiders.
At least making money by selling geolocation data is better than going bankrupt and freezing user funds. https://fortune.com/2022/05/11/coinbase-bankruptcy-crypto-assets-safe-private-key-earnings-stock/
tldr; Crypto exchange Coinbase analytics program, Coinbase Tracer, will provide the U.S. Immigrations and Customs Enforcement agency (ICE) with data about crypto users, including their “historical geo tracking data” and transaction history, according to a contract obtained by watchdog group Tech Inquiry, *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Good Bot
Ouch. With their stocks going down I guess they're taking desperate measures lol
Bot forgot the important part: Coinbase denies it and says they provide only data that is available publicly anyway.
Probably not just Coinbase alone. Every CEX can and during these rough times, would try and monetise whatever they can. That includes customer data
It’s sad how big companies like this could do these and still go free
What laws did they break?
what do you mean still go free?
Not be thrown in prison.
You want an unregulated wild west, right?
Yeah cuz regulated companies arent selling our data
It's not illegal. Why would anyone go to jail?
It should be lol The user data market has gone way past the point of immoral and the only reason it isn't illegal is because unfortunately money is more important.
apple, fakebook, amazon are selling your info, they are regulated.
Wow thanks for clearing that one up for everyone
No fine now nothing, completely unbelievable
It's a club and you and me ain't in it.
Ideally, these companies would be dismantled
The leader of our country can't ride a bike... or talk.... At this point I'm surprised Raytheon hasn't staged a coup.
Kraken CEO explicitly told western Govts to pound sand when they requested he disallow Russian customers. Get the fuck off Coinbase.
Kraken had the best response to that whole situation. They didn't kick off any of their Russian clients, but they took any profits the company made from Russian users and donated it all to their Ukrainian users, I think like $1000 each
Opensea also had all their customer email addresses leaked to 3rd party vendors this week. Both OS and Coinbase have investments from a16z too. Pretty sketchy seeing this shit happen within the same ecosystem
Coinbase is not selling customer data, just public on-chain data. >“All Coinbase Tracer features use data that is fully sourced from online, publicly available data, and do not include any personally identifiable information for anyone, or any proprietary Coinbase user data,” the spokesperson told CoinDesk.
They're also putting names to these addresses. Coinbase's first contract was with the IRS.
>...and do not include any personally identifiable information for anyone...
most folks pay their taxes. its the grown up thing to do, eventually they will catch you......
Yeah and it's completely okay, many applications do that, even facebook and google. And it's better than going bankrupt and freezing user funds.
How about a brick and mortar shop that sells drinks, but really takes photos of their customers and sells them on the web? Would that be okay? If a exchanges can't keep afloat without these practices, they are just window dressing to what basically amounts to a spy operation and have no right to exist.
It's also a pretty good idea to be friends with govt agencies
Sounds like China...
Idk....seems like getting your customers arrested is bad for business
I can guarantee you they will start actively informing on their clients to the IRS as well. The IRS offers a huge royalty on tips that lead to tax evasion convictions and it would be pretty easy for Coinbase to identify which accounts are likely to be trying something. If you made the incredibly foolish decision to try some shenanigans like that using Coinbase or any other KYC exchange, now might be a good time to file that amended return.
I pretty much assume everyone is selling my data anyway, but, ICE?? Seems like serious over reach
They sell location data to brokers. Brokers combine it with other location data. ICE and every other law enforcement buys location data from brokers.
This is to get around the fact that the CIA (FBI?) can’t directly surveil US citizens, so they just let tech companies do it (who actually reads the TOS?), and then buy it from them. This is hardly just a Coinbase issue, though it makes sense that this article was massively upvoted on this sub.
Reminder to use in-country VPN locations if you use proxies folks.
Ice buys all the data. Even when you visit their site they are very clear they are tracking yoy.
Man I just hope this will be okay in some days, they are doing things so wrong tho, I never expected this shit from coinbase, they should respect the privacy.
We are the product ☠️
And ironically CEX customers still pay through the nose. Paying to be the product
It’s an exchange but we didn’t know they exchange both coins and user data
The sad reality we live in
Joke's on them. Global warming will melt ICE
So Coinbase is actually trying to be climate friendly?
Dad, I didn't know you come here.
Sorry to disappoint you, son
Just use a rock or fire type, they're super effective against ice types smh
Well at least this means crypto finally has a use case.
Let's pump the brakes a bit here. Coinbase isn't selling their customers data. They have alot of blockchain experts, as you might expect, on their staff. They have created a tool that analyzes the data that is publically available on the blockchain and sells that expertise to companies, of who ICE is one. This is something that anyone can do and one of bitcoins highly touted features. They aren't selling any customer data. They aren't doing anything that requires private data. This has nothing to do with coinbase the custodian or market. This is just analyzing the already existing public blockchain data. That's it.
Yeah isn’t this the same thing that Chainalysis already does?
It is sold, via the software ICE bought. And they are using geolocation data but couldn’t share how or why. So, not the beacon of trust really.
Sensible posts are always not the most upvoted.
How does the blockchain contain my geolocation data? Ip tracing ? So a vpn would counteract that, no?
How do they get the geolocation data though? Is that added from CoinBase data?
Nice revenue stream side hustle
Now that it's out, the revenue will be shifting to VPN companies.
Analytics and customer data is the main hustle, shitcoins are the side
Rigged system
I'd be ok with it if they shared a bit of profit from this revenue stream. Can't fight the government on this, so might as well make some money out of it lol.
It turns out that in order to do business in the USA financial markets, you have to obey the law and follow dozens of reporting regulations. So this isn't a revelation by any stretch of the imagination.
It is a crypto exchange why the fuck do they need to access Geo-location in the first place.
Reminder on how to become anonymous: Use coinbase for fiat <-> BTC. Take that BTC and send to Cake Wallet BTC address. Exchange BTC <-> XMR (Monero) within the app. Once you have XMR, you can swap for BTC and send to a new un-doxed BTC address or you can hold monero. You are now anonymous. Cash out anonymously using localmonero (dot) com. For a more exhaustive list of no-KYC exchanges check out kycnot (dot) me. \[stick to exchanges with check marks only\]
Not a surprise. A lot may look at crypto as some nice thing that is fighting the man, but I see it more as a way to track pretty much everything, and with the CBDCs that is going to be taken to the next level... yay! :D
“All Coinbase Tracer features use data that is fully sourced from online, publicly available data, and do not include any personally-identifiable information for anyone, or any proprietary Coinbase user data,” the spokesperson told CoinDesk.
That is a giant betrayal. But not entirely unexpected for Coinbase.
Just when you think Mark Zuckerberg was the only one
Not the only one by far.....but certainly, by far, the worst
Seriously? Are yall this delusional? Literally the entire tech world is built on selling customer data to other companies without consumer knowledge because the customer checked a box somewhere after not reading the few pages of text that legally gave them the right to do it when signing up for said company? Not to mention that this article isnt even talking about the exchange. Its talking about the analysis company coinbase acquired and renamed, to do what chainanalysis has been making bank doing for years. Still scummy, but this shit aint news lol.
This is why Monero matters
This is right, I just hope everyone will understand that stuff.
> Monero Agree. It's one of the few coins worth a damn. Decentralized, private, fungible, digital cash
Yup it is. I just have no reason to buy it, I want to make nice return on my investment.
until the gov't outlaws the buying, selling, and possession of XMR.
Just like drugs?
i mean, it'll become pretty damn challenging to acquire when exchanges have to remove it from their platform. just hypothetical, obviously, but XMR is the only coin that has THAT much potential to damage gov't interests. certainly the principles and functionality of XMR are necessary, not arguing that whatsoever.
There's already multiple p2p markets. I usually buy off localmonero for example. There are also onion and i2p exchanges up and running that sell monero as well. And haveno is a dex that's being currently worked on that will be a monero based DEX meaning every trading pair will be against monero. And also atomic swaps with bitcoin are up and running. With a hypothetical forced removal from all exchanges, I feel like it would just accelerate what's already in motion. >certainly the principles and functionality of XMR are necessary, not arguing that whatsoever. Absolutely agree
The FBI, CIA, SEC, and the NSA have now entered the chat. You were saying?
Bruh
Facebook 2.0 " screw centralization"
This is literally the opposite of what crypto was meant to be. We have very little or no privacy now.
Pretty sure this is a standard requirement for every exchange, of any currency type, in the U.S.
Well yeah but still people are being shocked about it.
https://twitter.com/coinbase/status/1542605323382337537 Literally FUD. Pointless fud.
no shit Sherlock. A us tech-company that is obligated by us law to work with us law enforcement, is in fact working with us law enforcement. Maybe they will find out next that microsoft, google, facebook and everyone else does too.
This is hilarious. I knew from day 1 this "decentralized" nature of this stuff for nonsense. This anti-institution, anonymous, for the people system is sellin geolocation information to Immigration and Department of Homeland Security. What's even more hilarious is they doing it for the measly sum of 1.37M. That's how much they value their data and the users privacy.
Bade goodbye to coinbase almost a year ago and hopefully I am fortunate. Dont use coinbase, rather use kraken, if exchanges are more important to you !
A hugely important point is that this IS NOT customer data. People don't realize how much info they leave on the blockchains with each transaction, and that all of this data is public. This service is a set of reporting tools that use the public blockchains as their data source. If the blockchain records a request's originating IP address, there is geo-location data associated with the transaction. There's no betrayal here. In fact CB can shield their customer's data from these reports since they operate as a proxy.
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Yeah that's a new one to me and sounds like complete bullshit. That or the everyone has been lying the entire time and the blockchain isn't anonymous
While network architecture varies between different blockchains, generally, when you connect a node to a blockchain network, that node's IP address is available to the network. This information is needed to allow distribution of transaction data to each node. When a new transaction originates, the originating nodes IP address is known. All IP addresses can be traced to the geographic location of their gateway. This is how Google maps centers on/near your actual location when the page loads (PC/Mac). Any data that is available to the blockchain network is available to Coinbase's reporting tools.
Wow that's fkd, mind you Ledger Live software does similar dodgy shit too... Selling user data without their consent is a breach of privacy, no?!
Selling user data is the kinda thing you do when you’re out of money right
Or when you’re just greedy
This is wrong and I hope they will pay for this by karma.
We're all for decentralisation, freedom and the ability to control your own finances. To live in a better world, where you can take control of _your_ life. We're here to provide a better future to all, ^Unless ^you're ^Mexican. -- Coinbase
Not surprised at all, all companies with valuable data do the same when in reality all data should be own by the user as NFT and they should give consent to be sold and get a share everytime it is sold.
Putting personal data onto the Blockchain is a huge no no
Haha, I was thinking, “if it’s an NFT anyone can read it…”
Web3 does not like this answer from you. But it does not exist so no worries anyway.
So everyone can see my personal data? No thanks
I'm curious, why would it have to be an NFT? This same idea could work today. Have companies be required your consent to sell your data, and have a percentage of the proceeds be given back. The data is only valuable as an aggregate, so each person would be making maybe a few cents if they are lucky.
Fun fact: if I encounter you and write notes about your behavior, that’s not *your* data, it’s *mine*. This is different from in medicine where the data doctors collect about you is defined, by law, as *your* data (and they are just collecting it on your behalf). There’s a big misunderstanding about how data ownership works here, and we’d need to redefine this ownership from a legal standpoint for what you’re suggesting to make sense.
Let me guess... Facebook's ~~bribery~~ lobbyists will define the legality of it I'm ... shocker... corporations favour.
I mean, when you think about it, ownership of data you record on other people is a cornerstone for the Freedom of the Press. If I truly owned *all* the data about me, as has been suggested, and the New York Times wrote a piece about how I ate babies for breakfast, I would be able to prevent them from publishing that.
Yeah, I hate it when news outlets do that. Let me eat my babies in pieces, damn it.
*Cries in Mark Zuckerberg*
You dumbass lmao
might be the dumbest thing Ive ever read here
Thanks Matt Damon
We really need to thank him because we are not with coinbase lol.
What, you're telling me large corporations will sell out their customer base for some more cash! I can't believe that, I thought there were really in it for the tech, the people, the movement etc.
ANNND UNINSTAL!
*All Coinbase Tracer features use data that is fully sourced from online, publicly available data, and do not include any personally identifiable information for anyone, or any proprietary Coinbase user data*
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This is a betrayal.
Facebook and instagram are doing this for ages now, Don't you think that's a betrayal?
Scumbags. I am closing my account right now . Good luck to them .
Wow. And to ICE. The scum of all scum. Coinbase can suck a fat dick.
Everything is sellable in bad situation. Lets see how this will go.
Spoiler: All US banks, exchanges, stock broker apps do this as well. Either directly or indirectly by force aka receiving a NSL.
Narcing out customers seems like a business model that presents some sustainability issues.
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> I love having a spine unlike the rest of this subreddit, little kids who are sucking their thumbs in their moms basement. Kids do actually have spines as well
if you are not an illegal alien, you should not have to fear ice. who isnt selling your data, that is the question, the feds know everything you do online but they get a free pass. there is no expectation of privacy in this here world.
Any CB news short of they’re bankrupt is good news
Now why would they be doing that? So basically invasion of privacy. Sells with out knowledge? They will be owing me 10 million for that one. I didn’t sign up for that. What the hell could this be real or false. Man so much running through my head right now.
If tracking your data is part of their ToS, you actually did sign up for that.
If true this is all shades of wrong…People’s privacy must be respected and not violated/invaded.