I'm not familiar with how any of this works, but I kind of thought coinbase was less like a bank—paying interest on deposits—and more like a user friendly web ui for managing your assets, because dealing with private keys is hard for a user.
If, for example, Dropbox declares bankruptcy I'd be shocked if creditors could search through the user data for things of value.
It seems like there would be plenty of money to be made just charging transaction fees and holding assets 1-1 for the users, but what do I know.
> I'd be shocked if creditors could search through the user data for things of value.
dropbox don't own any copyright to the content from the user's uploads. So even if the creditors find any valuable IP or content, there's no way they can claim ownership over it.
Coinbase, on the other hand, is given custody of actual assets (the cryptos).
The entire point of Twitter and FB is to commercialise the user content, IMO.
While I wouldn’t a priori assume any given cloud storage user agreement includes a perpetual IP license to anything the user uploads, I also wouldn’t assume it to be free of such a clause.
Either way, read closely. And get legal advice if it matters, because jargon doesn’t mean what outsiders think it means.
If, for example, Dropbox declares bankruptcy I'd be shocked if creditors could search through the user data for things of value.
It seems like there would be plenty of money to be made just charging transaction fees and holding assets 1-1 for the users, but what do I know.