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Coinbase gives BUIDL back to the community

Priya

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Coinbase gives BUIDL back to the community
Source: Unsplash

Coinbase, one of the biggest exchange platforms around the world, became the talk of the town ever since it was revealed that the company was planning to trademark one of the most popular terms, BUIDL. The response that the company received turned out to be rather unpleasant, with even well-known influencers calling out the exchange platform on this move.

This included Changpeng Zhao, the Founder, and CEO of Binance, popularly known as CZ. The Founder was using the term on several occasions along with other ones such as HODL, and SAFU. When the news regarding the trademark broke out, a Twitterati, Rallyqt claimed that CZ has been using the term and she has not come across a single tweet from Coinbase which included the term.

To which, CZ said:

“lol, that’s hilarious. We focus on real building, not filing. I think I saw HODL somewhere first. I may or may not be the first one to use the BUIDL term. Can’t remember, and not that important. … But if they fk around with #SAFU, I will be pissed!”

This was followed by CZ stating that pissed means “lawyers ready to go”, adding that trademarking terms such as BUIDL, which is widely used in the community hurts the company reputation instead of building it.

Nonetheless, Balaji S. Srinivasan, the CTO of Coinbase, has also stepped in with the intention of clarifying Coinbase’s move. He said on Twitter:

“Saw the commotion on Twitter & dug into this. Coinbase filed the trademark for BUIDL some time back. I learned about it today & chatted with team. TLDR is that @brian_armstrong & I don’t believe in trademarks for stuff like this so we’ll be giving this one back to the community.”

Srinivasan further stated that the company had “no intention” of preventing the cryptocurrency community from using the terms. He also revealed that they had thought of a feature called Coinbase BUIDL and the reason they had made the filing was to avoid “patent trolls” for a common term.

Additionally, Srinivasan stated that BUIDL was first used in one of his talk that go back to April 2015, before he joined Coinbase.



He went on to say:

“But it’s entered the common crypto lexicon at this point and we wouldn’t have it any other way.”

To which, CZ said:

“Great stuff! Respect for using it all the way back in 2015, and for being community driven. Coffee/drinks on me when we meet again. Where was the first use of HODL? Anyone know? “.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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Coinbase is a huge net positive for not just cryptocurrencies, but for the world, says Bitcoin Cash proponent Roger Ver

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'Coinbase is a huge net positive for not just cryptocurrencies, but for the world', says Bitcoin Cash proponent Roger Ver
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Roger Ver, a well-known Bitcoin Cash influencer and CEO of Bitcoin.com, spoke about the controversy surrounding #DeleteCoinbase campaign, where he stood by the exchange. He also explained the reason behind why he does not consider BTC to be Bitcoin, in an interview with BreakerMag.

Coinbase, a leading cryptocurrency exchange platform, recently made an uproar in the cryptocurrency market over acquiring Neutrino, a blockchain analytics firm. This acquisition resulted in the majority of the cryptocurrency space joining the #DeleteCoinbase movement as the Neutrino team was previously associated with Hacking Team. More so, it was further revealed that the acquisition took place because Coinbase’s providers were selling its data to outside sources.

However, while the majority of the space was chanting #DeleteCoinbase, Roger Ver, on the contrary, spoke in favor of the exchange. On his official social media handle, Ver had stated that the exchange has made a lot of contribution towards driving the adoption of the cryptocurrency space and that space should “be grateful despite a few poor decisions along the way”, adding “Don’t #DeleteCoinbase”.

In the interview, Ver was asked whether Neutrino’s association with Hacking Team did not bother him, and the reason behing why he chose to stay beside the exchange. To this, Ver stated that he was “incredibly troubled” with the association, adding that this was a “really stupid mistake”. He went on to state,



“But people make mistakes sometimes, and I don’t think that it was an intentionally bad mistake on Coinbase’s part. Once they saw the error of their ways, they fixed that. And Coinbase has onboarded millions and millions of people to cryptocurrency. I think Coinbase is a huge net positive for not just cryptocurrencies, but for the world.”

This was followed by Ver speaking about the reason behind his belief that BTC is not Bitcoin. Ver has been previously criticized because of the same topic, so much so that there were people who were considering taking legal action against him. This was because of propagation that Bitcoin Cash [BCH] was the real Bitcoin.

On this, Ver stated there were several people who have called him a “scammer” because of this, adding that there were barely any who was up for an argument, instead of name-calling. He also stated that there was a possibility of him believing that BTC was indeed the real Bitcoin, but stated that there weren’t “any arguments that are compelling at this point”. He said,

“I came to those conclusions based on the logic and reason and evidence and arguments that favored those positions. And if someone wants to try and convince me that BTC is bitcoin, even though it’s not a peer-to-peer electronic cash system, I will listen to those arguments and evaluate them based on their merits.”





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