Story: A Coinbase user accidentally sends bitcoin to a litecoin address. Coinbase support claims it’s not recoverable. Someone on Twitter helps the user recover the funds successfully.

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

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Bitcoin – The Currency of the Internet

I want a smart currency based phone where the caller has to send me BTC to get me to answer, if I talk to them more than 120 seconds the phone automatically sends them back the BTC. That would effectively end spam calls..

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Bitcoin – The Currency of the Internet

We aren’t 16 either, but created a beautiful crypto tracking App which sends you automated alerts, news and shows you a toplist of all your crypto coins!

Hey crypto community,

We know that several people have recently launched projects similar to ours but still we want to take the chance to show what we have come up with for you over the last few weeks:

Our App is called Coinance and it is so far available on iOS (Android launch in 3-4 weeks). Since me and my friend Felix both invested a some money into different cryptocurrencies, we caught ourselves checking market prices several times a day. Though most crypto websites like for example Coinmarketcap are still a bit rudimentary to use in our opinion. Since both of us believe into design disruption, we started to build a product for crypto currencies, which hopefully people love using and therefore make crypto currencies more accessible to a wider audience.

In our first version we tried to focus just on the elementary features as a market tracking app, even though we share a bigger vision behind Coinance. We tried to “build a fully working skateboard first, before shooting for a flying car.”

Our first and core features within the App are so far: The toplist sorted by market cap. The ability to favorite coins in a separate view e.g. your portfolio. An alert function, which sends you push notifications once the price hits a target price and also once certain parameters are hit in our backend, e.g. all-time-high. And finally a news section where we retrieve RSS feeds from news sites like .g. Coindesk, TechCrunch or Cointelegraph and share important Twitter news.

But where could this project go from here? We don’t know it yet, but we are curious to hear what you think! We believe in user centric development and have a couple of ideas of but we would love to hear from you what you actually want us to build next! Our thoughts are:

The ability to create your own portfolio and manually track your investments? Similar like Delta or Blockfolio. Integration to several exchanges and retrieve their data about your current holdings into our App so that you could login and see your real portfolio. E.g. Mint for crypto More News channels and sources to keep users up-to-date about ICOs. Integrate an own wallet and becoming a possible future payment provider.

If you have an iOS device feel free to take a look at it yourself and let us know what you think. You can comment on here and we are trying to answer any questions / will take your feedback very seriously!

Some of you guys might also be interested in who we are:

Felix is an UI/UX designer & product manager currently still in his last semester of grad school. He designed the App, set the requirements and spoke with guys like you which features we should implement first.

Mathias is a software engineer who works for a startup in San Francisco. He coded the App, but since you guys are very precise who exactly wrote ALL the code, admits that he had to ask one or two times a friend when he didn’t know it all himself. Booh! 😉

Note: This project is an evening & weekend project, since Mathias is working full-time and Felix has to finish up his study. We built this thing for you – the community. We could also decide to spend our time differently, therefore please don’t be too harsh with your critique, but we really appreciate any feedback, suggestion or motivating words!

Edit: The link to the iOS App Store was posted below in the comments but I'll put it here too. I wasn't sure if I was allowed to post it so didn't put it here in the first place: Coinance in the AppStore

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Bitcoin – The Currency of the Internet

New Jersey Sends Cease & Desist to Crypto-Investment Pool (news.bitcoin.com)

The state of New Jersey’s Bureau of Securities and the Attorney General has issued a cease and desist order to a digital currency investment fund called ‘Bitstrade’ this week. According to the state’s Attorney General’s office, the cryptocurrency-focused firm was “fraudulently” managing and selling securities.
Also read: U.S.

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