In this concise overview of the cryptocurrency industry’s strengths, weaknesses, opportunities, and threats, renowned crypto expert Andreas Antonopoulos explains what’s going on the world that makes Bitcoin such a relevant and powerful force. The State of the Crypto Industry in 2019 The most important feature of Bitcoin is its neutrality, and the rest of the great things are derived from that. That neutrality is not a lack of principles. Neutrality is a principle itself. That neutrality is resistance to over-centralization of arbitrary power in institutional hierarchies by creating a preferable substitute for whatever utility those provide. But a preferable substitute
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Just listened to the story on the recent Blockdigest episode. The TL;DR is in the title.
It's of course the mistake of the user to not being careful enough, but also negligence on part of Coinbase not to have any sort of warning or restrictions in place for sending bitcoin to a litecoin address (which seems like an easy and reasonable thing to implement).
But particularly negligent is to claim that the funds are not recoverable anymore, which is simply not true, and luckily, another Twitter user was able to help recover the funds successfully (worth around $ 2.5k). So the Coinbase support was simply either incompetent or just lazy or lying, which is all equally concerning, as such cases are likely not very rare with all the newbies coming into the space and Coinbase is one of the biggest fiat on-ramps into bitcoin.
Timestamp to the story (as told by @brian_trollz, the person helping with the recovery): https://youtu.be/cvbm0YlKV04?t=3211
Link to the original Twitter thread: https://twitter.com/djjindra/status/1073096138893385728
And the follow up by @brian_trollz: https://twitter.com/brian_trollz/status/1073241960528429056
submitted by /u/TheGreatMuffin
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