JP Morgan Chase and Co. announced Thursday it would be the first major institutional bank to release its own cryptocurrency. Its new JPM Coin is an almost shockingly impotent reaction to Bitcoin and other cryptocurrencies by the United States’ largest bank. Jamie Dimon Gets a New Toy Newsflash: Bitcoin Basher Jamie Dimon & JP Morgan Just Launched Their Own Cryptocurrency https://t.co/VciDixDldH — CCN.com (@CryptoCoinsNews) February 14, 2019 JP Morgan says you can now give them a dollar, and they’ll give you a JPM Coin, which you can redeem for your dollar with them any time. So they’re using JPM Coin
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News – CCN
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
Bitcoin – The Currency of the Internet
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