Me: "Coinbase is the anti-Christ. They should be called ConBase instead."

CFB: "I like them. Besides, unlike other exchanges, coinbase is a well established crypto exchange OG; been in business since 2012 and listed on the NASDAQ"

Me: "Pfft. NASDAQ smazzdaq. Aren't they supposed to be a crypto exchange? And btw, your crypto 'exchange OG' doesn't have a brick and mortar headquarters and yet over 6,000 customer accounts got hacked."

CFB: "Yeah, but they are working to make any customer who lost funds whole again."

Me: "How's that coming along? How many have been made whole' so far? I got 'a friend of a friend who knows somebody' that says many members are required to prove how much they lost with 'Before and After' downloaded account statements from ConBase AND their connected bank account(s) before the recoupment process can begin. And with the amount of fake photoshoped or Gimped images on the internet, I bet screenshots will not be accepted. Anyway, I think the hack was an inside job."

CFB: "They officially stated that there's no evidence that the hack was due to any employee at coinbase."

Me: "Well, as of now, the hacker(s) haven't been named or caught. And saying there's 'no evidence' is not the same as proving that it wasn't."

CFB: "I and the rest of coinbase's users feel confident that from now on our accounts and funds will be safer."

Me: "Why is that?"

CFB: "Coinbase has institutional insurance for lost or stolen funds."

Me: "Yeah. But did you know that the insurance covers ConBase, not their retail investors; meaning, you and the rest of ConBase's users could get left out in the cold? And the institutional insurance doesn't cover malfeasance or acts of neglect per industry standards (which industry?). That means, 'Good luck and have fun trying to get a claim approved"

CFB: "Oh I see. But the FDIC covers every coinbase customer for up to 250,000 USD."

Me:"Yeah. But the FDIC DOES NOT cover losses of cryptocurrency, only fiat."

CFB: "I didn't know that..." Me: "Like I said, ConBase is the anti-Christ..."

Submitted FYI.

In Lak'ech, JaiChai

(JaiChai 21 OCT 2021. Simultaneous multi-site submissions posted. All rights reserved.)