insidebitcoins.com / Kyle Torpey / Sep 3, 2015 8:00 AM EDT
Decentralized Applicatoins Fund Managing Director David Johnston conducted a fireside chat withShapeshift.io CEO Erik Voorhees at the Texas Bitcoin Conference in late March, and an interesting exchange between the two long-time Bitcoin proponents took place when the topic of Coinbasecame up. While many in the Bitcoin community have been critical of Coinbase for shutting down user accounts and going the extra mile on regulatory compliance, it appears that both Johnston and Voorhees understand where the Bitcoin exchange and wallet provider are coming from. Johnston initially made some comments on Coinbase before Voorhees added his two cents:
“Some people have been critical of Coinbase . . . But in truth, I agree, it’s a very convenient service. If you’re willing to risk having them hold your keys — I wouldn’t personally do that — you have that option. And if they break that trust, you have that option to leave.”
Coinbase More Intrusive Than Banks?
When Voorhees began to share his thoughts on Coinbase as a major player in the Bitcoin space, he first pointed out why the company receives so much criticism from certain members of the community: