| submitted by /u/AstarJoe
I really can not stand how they are handling Bitcoin. It is clear they do not want a truly decentralized system to flourish, despite what their framework says.
I am not a fan of secret agendas and greedy hands. It is possible to make money and be respectable, but Coinbase has chosen a different path.
It saddens me because Coinbase was my entry point into crypto, and now I feel they've aligned themselves against what the entire system should stand for.
Goodbye Coinbase. For your sake, I hope you can redeem yourself. But for now, you are losing a customer for a company with standards and values that actually reflect in their actions.
Edit: For anyone wanting to do the same. https://support.coinbase.com/customer/portal/articles/2063066-how-can-i-close-my-account-
A Few reasons: The way they handled the release of Bcash (Roger Ver defended the Insider Trading), The CEO Brian Armstrong is clearly against Bitcoin, They have yet to implement segwit in a timely manner. It is clear to me they would like to make money over sticking to their standards and values. As stated above, it is possible to do both.
Another: Spamming the network
We need lightning network on mainnet yesterday. But it very much alpha software and will not be deployed unless it gets tons more testing and dev work. However, not everyone is a developer and even if you are a developer, contributing to crypto is not easy. I was in the same position.
But there are other ways! I installed Bitcoin Core on testnet and both Lnd and Eclair and tried opening channels, sending payments, closing channels etc. After a day or so, I discovered two bugs, filed them and cooperated with developers in tracking them and fixing them. If you are a bit tech savvy, you can do that too. In the process, you might also discover how lightning actually works and when it really comes, you'll be ready to take full advantage.