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by aragot 4568 days ago
All the theory about currencies and macro- and microeconomy and libertarianism are available in books. But people really like to learn the hard way.

There are a few rules about trustworthiness in economy. Our whole economic system is held together because one rogue actor would be rejected by all its partners if it failed a transaction, and the person wouldn't be able to create a new company if they acted unfairly. This peer-to-peer network is also backed by trade unions, then banks, then governments who vouch for each other.

By trusting Coinbase, a single actor in a very small economy, you have very little leverage, except talking about your mistake on HN and trying to get the consumer's snowball effect. It is not backed by its trade union, nor by its banks, insurances or government.

Don't forget that Bitcoin is a token game which is parallel to your national currency, and allows bypassing taxes. Bitcoins should get what they deserve: As a subversive currency allowing to bypass taxes, it should be fought by governments. Receiving money for a Blizzard account is just as illegal. Because it's a parallel economy which prevents taxes from being duly collected.

I'm not to say that I'm on the governments side, nor on the Bitcoin side. I'm saying they are competing and proponents of one side should be rejected by the other side.

Givn this background, you losing 0.12 BTC is a very mild outcome.