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The founder Pro-Bitcoin Gab loses the Coinbase account, calls DEX
Gab.com, a social media platform that promotes freedom of speech, is by no means ironic enough to be unrelated to financial censorship. Last year, Paypal, the world-famous but controversial payment processor, banned the Gab company, interrupting one of the startup's relevant financial resources.
Coinbase has also banned the Commerce account of the American company, preventing Gab from receiving Bitcoin (BTC) and other cryptocurrencies supported as payment. Bitpay, the popular payment processor, had also refused to offer the Gab service, with a statement from the company stating, "The nature of your organization presents greater risks and we are no longer able to provide you with our processing service. merchantable quality. "
Now, just a few months from the original censorship attack, the social media company, which sports over 100,000 followers on Twitter, claimed that its founder and CEO, Andrew Torba, lost his personal Coinbase account. The company's social media manager wrote:
As expected: the ascent and descent ramps (exchanges) will start to censure not only companies, but also individuals.
For the image attached to the tweet, Coinbase did not mention the specific reasoning for closing the Torba account. It is interesting to note that the startup allowed the founder of Gab to withdraw his holdings in cryptocurrency and the balance in US dollars on external accounts. However, the bottom line is that it has been banned, without a clear reason.
But if history is an indicator, probably Coinbase's top brass has decided to eliminate the account since Gab hosts a series of unpopular, conflicting and sometimes inflammatory opinions. However, the modus operandi of crypto must be resistant to censorship, making this controversial move at the end of Coinbase. Because fun enough, the basic mission of Coinbase is to create an open financial system for the world.
The decentralized exchanges are the future
Bisq, a leading decentralized exchange for cryptocurrencies and fiat, has seized the opportunity to beat the exchanges centrally, emphasizing the fact that Bitcoin should allow users to "be their own bank", said Bisq while Bitcoin promotes financial freedom , its platform allows users to become their own exchange, as negotiations can be done by peers, without censorship or any centralized deficiencies.
If Bitcoin allows you to "be your bank", Bisq allows you to "be your exchange".
You run Bisq on your machine and exchange bitcoins P2P.
Resistance to censorship based on design, not politics.
Gatekeepers do not have bitcoin business.
We avoid them! https://t.co/DMG9vAFZXm
– Bisq (@bisq_network) 5 January 2019
Ran NeuNer said that this ban is "too similar to the current banking system", joking that the intention of Coinbase to create a new financial system has failed. Bitlord, an Australian cryptocurrency commentator, noted that this ban was "shameful", in particular because of Brian Armstrong's plan to create a free world.
Thus, others have seized the opportunity to affirm that the decentralized exchanges will end up centrally exceeding the ramps, especially if cases like those mentioned above continue to spread.
Title Image Courtesy of Glenn Carstens Peters Via Unsplash
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