[03-22-2015] Coinbase Hits 2.1m Users Milestone

Armis

hero member

Activity: 588

Merit: 501

Quote from: waawd on March 22, 2015, 04:33:49 PM

http://btcfeed.net/news/coinbase-hits-2-1m-users-milestone/

According to some recent statistics publicly displayed on the Coinbase website, the company is claiming to have 2.1 million users. That is quite a staggering number for a company that has been founded in July of 2012, even though we had seen a tremendous growth in users on a monthly basis. But are these numbers true or fake?

...

Firstly, coinbase has two separate interests, the coinbase that started first and the coinbase exchange. I don't know which entity this is addressing or both. Considering that the article spoke about 'merchants' it clearly involves the first coinbase. I think this is referring to both of coinbase concerns.

Anyway, a user need not be a natural person, it very easily could be a business, so that one person could have many different business accounts. Additionally and probably more the case is larger companies are using coinbase to pay employees and vendors so yeah they may sign up for an account but for many of them simply another atm card attached to their demand account.

Lastly, not long ago coinbase has a referral program that paid both parties $5 in btc if someone made a referral and conducted a $100+ transaction. You know when that many parents and siblings were signed up unbeknownst to them.

Nevertheless Coinbase purposely refrained from early crazy growth. I think their true customer base is about 300K active customers.

cr1776

legendary

Activity: 4214

Merit: 1313

Quote from: Hazir on March 25, 2015, 05:57:48 AM

Quote from: tins on March 25, 2015, 04:47:28 AM

Quote from: Chef Ramsay on March 22, 2015, 05:28:51 PM

The numbers wouldn't really surprise me as they are pretty much the easiest to purchase and sell bitcoins for Americans. Convenient as well.

Same here. Had one purchase that didn't go through instantaneously, by the time I had customer service one the phone, already had BTC in my account.
Top notch company.

Bitcoin was created to avoid centralisation and bring unity though equality of services. And now we have central services like coinbase getting bigger every minute. I am not entirely sure it is a good or bad, it sure is convenient but in the end, eventually focusing resources in one service like that can bite us in the ass.

I think a key difference is that there is no forced centralization - such as with a central bank, a certificate authority, or a domain registrar (e.g. what Namecoin attempts to remedy).

MF Doom

hero member

Activity: 560

Merit: 500

Quote from: Hazir on March 25, 2015, 05:57:48 AM

Quote from: tins on March 25, 2015, 04:47:28 AM

Quote from: Chef Ramsay on March 22, 2015, 05:28:51 PM

The numbers wouldn't really surprise me as they are pretty much the easiest to purchase and sell bitcoins for Americans. Convenient as well.

Same here. Had one purchase that didn't go through instantaneously, by the time I had customer service one the phone, already had BTC in my account.
Top notch company.

Bitcoin was created to avoid centralisation and bring unity though equality of services. And now we have central services like coinbase getting bigger every minute. I am not entirely sure it is a good or bad, it sure is convenient but in the end, eventually focusing resources in one service like that can bite us in the ass.

As long as they can keep doing what their doing, not lose any coins, and make btc more "useable" then I think they are doing the btc world a favor.

Hazir

legendary

Activity: 1596

Merit: 1005

★Nitrogensports.eu★

Quote from: tins on March 25, 2015, 04:47:28 AM

Quote from: Chef Ramsay on March 22, 2015, 05:28:51 PM

The numbers wouldn't really surprise me as they are pretty much the easiest to purchase and sell bitcoins for Americans. Convenient as well.

Same here. Had one purchase that didn't go through instantaneously, by the time I had customer service one the phone, already had BTC in my account.
Top notch company.

Bitcoin was created to avoid centralisation and bring unity though equality of services. And now we have central services like coinbase getting bigger every minute. I am not entirely sure it is a good or bad, it sure is convenient but in the end, eventually focusing resources in one service like that can bite us in the ass.

tins

hero member

Activity: 882

Merit: 500

Quote from: Chef Ramsay on March 22, 2015, 05:28:51 PM

The numbers wouldn't really surprise me as they are pretty much the easiest to purchase and sell bitcoins for Americans. Convenient as well.

Same here. Had one purchase that didn't go through instantaneously, by the time I had customer service one the phone, already had BTC in my account.
Top notch company.

Deadmau5

newbie

Activity: 22

Merit: 0

I haven't used Coinbase myself personally, but it does seem to be the go-to exchnage for Americans, providing your ok with providing all the relevant documentation.

Quote from: MF Doom on March 24, 2015, 09:23:26 AM

once they can speed up buy/sell times, they will make btc a lot more useable on a day to day basis. spending your btc, then having to wait to replenish your btc makes it hard to use regularly

I think there will always be delays or restrictions with 'legit' exchanges because of the laws and hoops they have to jump though to comply with certain money laundering laws etc.

Mountain Jew

member

Activity: 60

Merit: 10

Quote from: Rude Boy on March 22, 2015, 09:44:14 PM

their service might impress customers. But they prefer only US peoples and never bothered about other country peoples for buy/sell BTC

Other exchanges are available. Like Chef Ramsey said they obviously seem to be the best choice for Americans but each country has their own exchanges that make it easy to transact or deal with. Btc-e seems to work fairly well for the rest of the world too but all exchanges have positives and negatives depending where you live.

indiemax

hero member

Activity: 722

Merit: 500

would be interesting to know the average buy/hold/spend of these users over time

might be not so amazing but rather interesting non the less Grin

MF Doom

hero member

Activity: 560

Merit: 500

once they can speed up buy/sell times, they will make btc a lot more useable on a day to day basis. spending your btc, then having to wait to replenish your btc makes it hard to use regularly

EternalWingsofGod

hero member

Activity: 700

Merit: 500

Quote from: Chef Ramsay on March 22, 2015, 05:28:51 PM

The numbers wouldn't really surprise me as they are pretty much the easiest to purchase and sell bitcoins for Americans. Convenient as well.

I guess my question is what they based the numbers on
Registered Users + Merchants + Online Entities etc.
Anyways good for them thats a lot of users

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

i guess they will be the leader in the US for a long long time Cheesy

Hazir

legendary

Activity: 1596

Merit: 1005

★Nitrogensports.eu★

Quote from: cr1776 on March 23, 2015, 04:43:15 AM

Quote from: Rude Boy on March 22, 2015, 09:44:14 PM

their service might impress customers. But they prefer only US peoples and never bothered about other country peoples for buy/sell BTC

They say they are available in 24 countries.
See:
https://www.coinbase.com/global

:-)

It is true that they are expanding to other countries, for now I see only european countries. But from my experience I now that european people like to use their own local exchange markets better than multinational big services. They may simply don't know about coinbase too, because it was mainly US thing so far.

cr1776

legendary

Activity: 4214

Merit: 1313

Quote from: Rude Boy on March 22, 2015, 09:44:14 PM

their service might impress customers. But they prefer only US peoples and never bothered about other country peoples for buy/sell BTC

They say they are available in 24 countries.
See:
https://www.coinbase.com/global

:-)

lyth0s

legendary

Activity: 1260

Merit: 1000

World Class Cryptonaire

Yeah I've had nothing but good experiences with Coinbase as well and I have also recommended them to my friends when they want to get into bitcoin. However, some people have claimed that they didn't give purchased bitcoins during the previous bubble and just flagged their accounts as suspicious but that never happened to me.

ajareselde

legendary

Activity: 1722

Merit: 1000

Satoshi is rolling in his grave. #bitcoin

Those numbers are only going to get higher, since (like we can already see in this thread responses) every happy customer spreads the word, and u get a chain
of new clients. I think that once other business people see that there are profits to be made, exchanges will rise like mushrooms after rain, sort of what we have with
gold pawn shops now, they're on every corner in every town..

cheers

Alley

legendary

Activity: 910

Merit: 1000

Now we just need every user to buy a tenth of a bit coin for moon.

Chef Ramsay

legendary

Activity: 1568

Merit: 1001

Quote from: bitbouillion on March 22, 2015, 09:31:20 PM

Since they came early into the game, I am one of the 2.1 million. So far only good experience, everyone who asks me I recommend them.

That's exactly what I think as well. You've made a great choice in this world so I'm happy for you. Cheers my fr\iend.

Rude Boy

hero member

Activity: 770

Merit: 500

their service might impress customers. But they prefer only US peoples and never bothered about other country peoples for buy/sell BTC

bitbouillion

sr. member

Activity: 868

Merit: 250

Since they came early into the game, I am one of the 2.1 million. So far only good experience, everyone who asks me I recommend them.

Chef Ramsay

legendary

Activity: 1568

Merit: 1001

The numbers wouldn't really surprise me as they are pretty much the easiest to purchase and sell bitcoins for Americans. Convenient as well.

Topic: [03-22-2015] Coinbase Hits 2.1m Users Milestone (Read 1723 times)