This is incredible news! 100k users in just 72 hours!
Most people know of Coinbase's failures in keeping up with the demand of the market. However, they have been working diligently to overcome the extreme demands of the consumers.
They have also recently been under fire from the IRS to release its users login information and user data. Many people have been outraged by these efforts and have started a legal battle against the federal program. Coinbase itself has refused to hand over these details.
The judge, Jacqueline Corley, in this said court case has made a very bold statement favoring the side of Coinbase:
"Under that reasoning, the IRS could request bank records for every United States customer from every bank branch in the United States because it is well known that tax liabilities, in general, are under reported and such records might turn up tax liabilities. It is thus no surprise that the IRS cannot cite a single case that supports such broad discretion to obtain the records of every bank-account holding American.”
Essentially, what she's saying is that the IRS is stretching too far. If they want every single persons account information on Coinbase, why don't they choose to request every single persons bank accounts in the US? It's a very valid question.
I believe that Coinbase's resilience to fight back against the IRS, combined with the excellent news of SegWit being implemented on Bitcoins blockchain, has caused a huge influx of users on their platform.
OPINION: I strongly believe in what Coinbase is trying to accomplish here. It is no surprise to me that users are putting their faith behind this excellent startup. For those that were worried about their information being leaked to the IRS, it's looking better every day. Coinbase is doing a great job growing and keeping true to the nature of the community. I will continue to support this exchange, as long as they favor on the side of the users.
