Internal Report Shows GDAX & Coinbase may be Insolvent - Withdraw your funds now before you get GOXed

in coinbase •  8 years ago  (edited)
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  ·  8 years ago (edited)

This is FUD and has no actual information. It's also dangerous and potentially illegal to claim something is insolvent in this fashion. If you want to scare someone and create fear and panic, do it somewhere else. Be more responsible, thanks.

Users having trouble withdrawing funds, coinbase raising rates... this is not nothing? Do you have some sort of a stake in people getting ripped off by this exchange? Your actions do not seem very impartial.

Users ALWAYS have trouble withdrawing funds. Everywhere. Users ALWAYS have bad user experiences with every service and company on Earth. Even with Steem! Or Uber! Or Five Guys!

Writing things like this will get my downvote:
"Withdraw your funds now before you get GOXed"

Because it inspires panic and is bullshit. If you have actual evidence about their balance sheet. But read that article again. It's all FUD and written with a million mistakes that are actually provably wrong. Its best evidence is circumstantial and the sources are people who basically troll Coinbase and have ever since they took a side in the stupid block size debate.

Yelling FIRE in a crowded theater is illegal for a reason. Yelling people should withdraw all their money like you did with your sensational and irresponsible headline and is the same thing. It also might be illegal and you may be held liable if this damages either Coinbase's customers or or Coinbase itself. IANAL but there'd be a case, who knows if it would stick or anyone would bother. But be careful with what you say about a company's solvency and financial condition, any company's, unless you feel comfortable standing behind that case in civil court. I'm dead serious about this, it's not something to write lightly. Unfortunately for you, your post is now in the blockchain. When you write something on Steemit, it's permanent, even if you subsequently edit it, the original version is out there. That is why you have to be VERY careful what you write.

Not trying to be a dick and I'm sure you think I am being one, but I'm trying to protect people from damages and you from reckless mistakes.

Cheers and good luck!

  ·  8 years ago Reveal Comment
  ·  8 years ago Reveal Comment

Keep up the great work @wpalczynski
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