[2016-07-16]Coinbase Tracks User Funds Leaving The Exchange’s Wallets

Kprawn

legendary

Activity: 1904

Merit: 1074

The best method to solve this problem, would just be not to use their service. If any service have the power to ban you, because you used your bitcoins to do

something, they do not agree to, you should just stop using it and rather deal with their competitor. This kind of behavior are typical when companies grow too big, and they

come under the radar of government agencies. Coinbase has always been working for some government agencies on the side... Roll Eyes

aigeezer

legendary

Activity: 1450

Merit: 1013

Cryptanalyst castrated by his government, 1952

I cancelled my account with Coinbase back in 2014, when the story was new here: https://bitcointalksearch.org/topic/are-you-a-gambler-stay-away-from-coinbase-753606

After looking closely at Circle's ToS at the time, I also cancelled my account with them.

I don't gamble or use the dark net and I am not American, but I find their behaviour disgusting - their defenders argue that the behaviour is fine because the exchanges are under duress from their government. Perhaps they have forgotten the lessons of Nuremberg.

My particular beef was that they applied American rules to non-American customers but advertised an international service.

There are plenty of alternatives.

IconFirm

hero member

Activity: 1438

Merit: 574

Always ask questions. #StandWithHongKong

Quote from: European Central Bank on July 16, 2016, 02:03:03 PM

Quote from: IconFirm on July 16, 2016, 10:23:39 AM

It's no business of coinbase or anyone else what people spend their crypto on, that's why crypto came about. This is not fiat.

they're primarily there to convert your fiat. they don't got a choice. they probably have every lawmaking asshole in America on their case.

i'm sure they don't wanna do it any more than their customers do but that's the price of staying in business in America..

Fixed.

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: IconFirm on July 16, 2016, 10:23:39 AM

It's no business of coinbase or anyone else what people spend their crypto on, that's why crypto came about. This is not fiat.

they're primarily there to convert your fiat. they don't got a choice. they probably have every lawmaking asshole in America on their case.

i'm sure they don't wanna do it any more than their customers do but that's the price of staying in business.

tiggytomb

legendary

Activity: 1848

Merit: 1000

It is well known that they block or suspend accounts that send coins to gambling sites which in my opinion is outragious, they should count themselves lucky that people decide to use their wallet.

All they are doing with this is pushing customers away, I have only recently experienced an issue where I could no longer send funds to a gambling site, I am now thinking about moving to somewhere like Circle as they seem to be a bit better?

bitkilo

legendary

Activity: 1638

Merit: 1010

https://www.bitcoin.com/

Quote from: Das on July 16, 2016, 10:06:52 AM

Most of the time, people who gamble end up losing their money. I think coinbase is just trying to make its customers responsible spenders and there is no harm in that.

No harm in telling oher people how to spend their bitcoin, are you joking. If we start to allow this shit to happen with bitcoin now and it's all over.

IconFirm

hero member

Activity: 1438

Merit: 574

Always ask questions. #StandWithHongKong

Quote from: Das on July 16, 2016, 10:06:52 AM

I think coinbase is just trying to make its customers responsible spenders and there is no harm in that.

It's no business of coinbase or anyone else what people spend their crypto on, that's why crypto came about. This is not fiat.

Das

sr. member

Activity: 308

Merit: 250

Most of the time, people who gamble end up losing their money. I think coinbase is just trying to make its customers responsible spenders and there is no harm in that.

bitkilo

legendary

Activity: 1638

Merit: 1010

https://www.bitcoin.com/

Quote from: jdebunt on July 16, 2016, 07:46:21 AM

One possible solution would be to use the so-called Bitcoin mixing services, and erase any trace of funds originating from Coinbase. These services usually charge a fee for doing so, though, and a lot of people will not pay that price. However, in doing so, they give Coinbase an opportunity to terminate their account if any funds transferred from exchange wallet is sent to service violating their TOS.

http://themerkle.com/coinbase-tracks-user-funds-leaving-the-exchanges-wallets/

This is not really new news, if they lock users accounts for sending bitcoins from their wallets to some gambling websites then they must have been doing this for some time now.
Not good, Coinbase had a lot of potential when they first started but all i ever hear now is negative stories and since then they have decided to "re-brand" the company name, can't even remember what to now that's how much interest i have in the now, it's a shame how that company is being run.

jdebunt

legendary

Activity: 1596

Merit: 1010

One possible solution would be to use the so-called Bitcoin mixing services, and erase any trace of funds originating from Coinbase. These services usually charge a fee for doing so, though, and a lot of people will not pay that price. However, in doing so, they give Coinbase an opportunity to terminate their account if any funds transferred from exchange wallet is sent to service violating their TOS.

http://themerkle.com/coinbase-tracks-user-funds-leaving-the-exchanges-wallets/

Topic: [2016-07-16]Coinbase Tracks User Funds Leaving The Exchange’s Wallets (Read 483 times)