The freshly-licensed Coinbase is a bellwether of what to expect from centralized bitcoin exchanges. No wonder decentralized exchanges, like Localbitcoins, are breaking their own volume records on a weekly basis. But for the cautious and the informed, they are a return to the privacy and financial freedom that made bitcoin a beacon.
but wherever regulation forces exchanges to serve the state and crony-banking system from which bitcoin offers escape.
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(The process is described with images here.) Not everyone seems to be subjected to the increased scrutiny. Perhaps they belong to a ‘wrong’ category such as ‘non-American.’ Or Coinbase may be gradually implementing the technology in order to iron out the myriad problems being experienced by users.
A Reddit poster with an existing Coinbase account wrote; I’ve had an account for three months and all of a sudden when I went to but [sic] more Bitcoin I was taken to a page to verify my identity again. This time they made me use my webcam and it took me eight tries because they kept saying it was too blurry.
The portal allows anyone to “spy” into any cam show.
Like Cam Soda uses the token system were audience members offer tokens to the broadcaster as her/his clothes come off.