Coding Section > Coding Corner

BUTCOIN - What a pain in the ass!


I have come back around to the idea of Bitcoin, a few dollar's worth of which I need for a special payment.  What a pain in the ass!

I am setting up an account with Coinbase.  I thought the whole idea of BTC and other cryptocurrency was confidentiality and privacy.  WRONG!

To set up the account, I had to give them my real name and address.

Then, to fund the account, I had to give them my bank account info, including acct number.  That allowed me to transfer $50 from my bank to my BTC account, less a couple of percent processing fee.

OK, but I can't sent BTC to others, making the acct worthless.  To send BTC, I have to upload photos of my driver's license.

Doing this qualifies me to send 69 cents of the $50 I deposited.  TO send more, I have to wait... a week, maybe???  For what?  Until Jupiter is aligned with Mars?

WTF?  Where is the anonymity?  Where is the convenience?  I could have gone into a grocery store here and bought a $25 "gift card" for cash, no ID required, in about 5 minutes.

I am really disillusioned about the whole BTC thing.  It is all bullshit, so far.

Maybe I'm missing something.  If so, feel free to enlighten me...

*Frustrated in Georgia*


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