June 11, 2024
With Thanksgiving upon us, I wanted to take a moment to thank you for being a member of Coinbits, and to give you confidence that Coinbits is created by and for bitcoiners.
CEO & Co-Founder
With Thanksgiving upon us, I wanted to take a moment to thank you for being a member of Coinbits, and to give you confidence that Coinbits is created by and for bitcoiners.
Since launching Coinbits in 2017, we have never engaged in trading or lending the funds of our users, and we never will.
The collapse of FTX and ongoing crypto debacle comes as no surprise to bitcoin veterans like us. The kind of shady behavior, deceit, and self-dealing by FTX and their associates was the inspiration for the invention of bitcoin in 2008. Satoshi Nakamoto and the cypherpunks were appalled by the 2008 financial crisis, which was the culmination of a long train of abuses and usurpations by the nexus of central banking and big finance.
Bitcoin is a peaceful protest against financial repression. We call ourselves bitcoiners because we reject a financial system that exploits people who don’t have wealth and political connections.
Coinbits has always been focused on this mission. We bootstrapped Coinbits, survived two bear markets, and still wake up every day excited to make our vision come true.
As you know, we are advocates of self-custody, and encourage our members to move their bitcoin out of Coinbits into a wallet only they control. Holding on to our members’ bitcoin is a service we offer, but we have no incentive to keep your bitcoin on our platform.
Our business model is simple:
That’s it.
What FTX has done to millions of innocent people is infuriating. However, this Thanksgiving, those of us who believe in bitcoin can feel grateful for the fall of FTX. There’s one less grifter muddying the waters of public discourse, and millions of new potential bitcoiners are learning (the hard way) that bitcoin is money, and “crypto” is credit.
If you’re not yet a member of the bitcoin tribe and ready to join, we hope you consider Coinbits! It’s designed to be the perfect gateway to bitcoin.
Happy Thanksgiving, from our families to yours.
November 24, 2022
With Thanksgiving upon us, I wanted to take a moment to thank you for being a member of Coinbits, and to give you confidence that Coinbits is created by and for bitcoiners.
CEO & Co-Founder
With Thanksgiving upon us, I wanted to take a moment to thank you for being a member of Coinbits, and to give you confidence that Coinbits is created by and for bitcoiners.
Since launching Coinbits in 2017, we have never engaged in trading or lending the funds of our users, and we never will.
The collapse of FTX and ongoing crypto debacle comes as no surprise to bitcoin veterans like us. The kind of shady behavior, deceit, and self-dealing by FTX and their associates was the inspiration for the invention of bitcoin in 2008. Satoshi Nakamoto and the cypherpunks were appalled by the 2008 financial crisis, which was the culmination of a long train of abuses and usurpations by the nexus of central banking and big finance.
Bitcoin is a peaceful protest against financial repression. We call ourselves bitcoiners because we reject a financial system that exploits people who don’t have wealth and political connections.
Coinbits has always been focused on this mission. We bootstrapped Coinbits, survived two bear markets, and still wake up every day excited to make our vision come true.
As you know, we are advocates of self-custody, and encourage our members to move their bitcoin out of Coinbits into a wallet only they control. Holding on to our members’ bitcoin is a service we offer, but we have no incentive to keep your bitcoin on our platform.
Our business model is simple:
That’s it.
What FTX has done to millions of innocent people is infuriating. However, this Thanksgiving, those of us who believe in bitcoin can feel grateful for the fall of FTX. There’s one less grifter muddying the waters of public discourse, and millions of new potential bitcoiners are learning (the hard way) that bitcoin is money, and “crypto” is credit.
If you’re not yet a member of the bitcoin tribe and ready to join, we hope you consider Coinbits! It’s designed to be the perfect gateway to bitcoin.
Happy Thanksgiving, from our families to yours.
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