coinbase

Troy then sends the coin Alice got from selling uncensored newspapers (minus a fee) to Bob's Coinbase account.

Note that some BTC enterprises today like Coinbase actually defer blockchain transactions when users are exchanging in their network.

The tumbler owner then forwards the coin from wallet A (minus a fee) into Alice's Coinbase account.

So, don't lie about your SPV status in your coinbase is one of the lessons here for a pool operator.

Payment processors like BitPay and Coinbase accept zero confirmation transactions for small amounts, simply because the costs of double-spending 0 confirm are massive.

Contrast this with a more realistic tumbler design: the tumbler owner (let's call him Troy) deposits a bitcoin from Coinbase in wallet A.

There are coinbase flags for neither SPV status, nor honesty.

I have to say, I'm pretty disappointed by Coinbase on this one.

However, Coinbase is not accessible for greeks.

It uses callbacks from Coinbase to ping the virtual appliances, which can be run by volunteers that have an OpenStack cluster running and don't mind having strangers launch instances on them.

No, Coinbase and BitPay accept 0-confirmation transactions when you pay a vendor by publishing a Bitcoin transaction through the Bitcoin peer-to-peer network, if the vendor has set it up to do so.

> 47% of Coinbase users are now from countries outside the US I wonder what the country breakdown estimation is for all Bitcoin transactions.

Coinbase does not "defer" or "aggregate" transactions between their customers.

(There are lots of merchants which "accept Bitcoin" because it's an option in some shopping cart programs, but those just send the Bitcoins to Coinbase, which converts them to dollars and sends the funds to the merchant.) The big trends in Bitcoin seem to be: - Amateur hour is over.

C'mon Coinbase, at least spin them into a '<X> is actually good for Bitcoin, because <Y>' format.

The worry is about the companies that want to control both ends, like Coinbase, not payment processors in general that simply take care of accepting BTC on behalf of the payee.

Coinbase you are now a few years old and have raised over $100m.