Beware of CoinBase - page 8. | Bitcointalksearch.org

Lexi Price

member

Activity: 66

Merit: 10

Live Free Or Die

Quote from: Ron~Popeil on April 13, 2015, 09:27:19 PM

I use circle or local bit coins. Coinbase is the paypal of bitcoin. I use bitpay for business transactions.

I want to be done with coinbase and circle but not sure what the options would be. Granted, this is the first real issue I've had and I'm not a trader so I'm not dealing in high volume transactions...my issue is when I'm ready to move my money, I have to wait on them to get around to it.

My question is if there's an option with bitpay, say I set up an option on my own website, my merchant account, and just 'buy' some widget thing for whatever the amount is I want to buy bitcoin, do it through bitpay and then move it to a wallet from bitpay. Would that work or would they pitch a hissy fit? Or would it even be worthwhile to do?

I need options Tongue

Ron~Popeil

sr. member

Activity: 406

Merit: 250

I use circle or local bit coins. Coinbase is the paypal of bitcoin. I use bitpay for business transactions.

kingcrypto

newbie

Activity: 17

Merit: 0

I think their very objective is to avoid legal problems unless the things they do doesn't like to its customers

cryptosky

newbie

Activity: 20

Merit: 0

I have never had any reason not to trust coinbase, I think it is one of the most reliable bitcoin companies

Hazir

legendary

Activity: 1596

Merit: 1005

★Nitrogensports.eu★

Quote from: Jimmy Wales on April 13, 2015, 06:28:22 PM

Quote from: ?? on ??

Coinbase basically has a monopoly over the US bitcoin market. There may be 1 or 2 other options like Circle and CampBX but their volume is limited to a fraction of Coinbase volume. I wonder if an antitrust lawsuit could be filed against them, why is there no real competition in the US?

Circle & Gemini are coming up as well as LocalBitcoins competitor 100bit.co.in. Not to mention BitQuick.co also operates in US market. CoinBase has enough competition there.

And it is a good sign as we are all waiting for more strong and secure bitcoin businesses to open. For now I can see that coinbase is dominating market quite heavily and therefore they can set rules as they please because there is not much alternatives to good services of coinbase. I think that when Gemini will launch there will be huge competition going on between them and and coinbase and we won't see any questionable rules anymore.

Jimmy Wales

member

Activity: 141

Merit: 17

Quote from: ?? on ??

Coinbase basically has a monopoly over the US bitcoin market. There may be 1 or 2 other options like Circle and CampBX but their volume is limited to a fraction of Coinbase volume. I wonder if an antitrust lawsuit could be filed against them, why is there no real competition in the US?

Circle & Gemini are coming up as well as LocalBitcoins competitor 100bit.co.in. Not to mention BitQuick.co also operates in US market. CoinBase has enough competition there.

Beliathon

hero member

Activity: 784

Merit: 1000

https://youtu.be/PZm8TTLR2NU

Quote from: ?? on ??

Coinbase basically has a monopoly over the US bitcoin market. There may be 1 or 2 other options like Circle and CampBX but their volume is limited to a fraction of Coinbase volume. I wonder if an antitrust lawsuit could be filed against them, why is there no real competition in the US?

This is absurd, there's no monopoly it's just the market is too young and small for competitors to emerge on the same scale and legitimacy as Coinbase. Give it time.

Jybrael

sr. member

Activity: 294

Merit: 250

Well a lot of people use coinbase and many of them have never encountered any problems...could it be just a error on their part?....well we will have to just wait and see...

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Welcome to the fully regulated legal Bitcoin. Prepare to be unimpressed.

odolvlobo

legendary

Activity: 4466

Merit: 3391

Quote from: SpanishSoldier on April 12, 2015, 10:51:43 AM

Quote

We further reserve the right to limit your account use if your account is associated with high-volume activity inconsistent with personal use.

I was banned for that reason. Keep in mind that high-volume activity is apparently only a few thousand dollars in a month.

Mike Christ

legendary

Activity: 1078

Merit: 1003

Quote from: SpanishSoldier on April 13, 2015, 03:58:31 PM

Quote from: Bit_Happy on April 12, 2015, 11:01:07 AM

Quote from: arlekyn13 on April 12, 2015, 10:56:14 AM

So this is the price users have to pay for using their "regulated" exchange/wallet? Welcome to the "paypal" of bitcoin

CoinBase deserves credit for helping Bitcoin grow stronger in the "real-world". They have the right to decide how to deal with regulations and users have the right to use them or look for other options.

If we apply your logic in the controversy of Net Neutrality, following comes out...

Telecom companies (Read At&T and Verizon for USA) have done a lot for spreading the internet. They have the right to decide which site to load first and which to load slow. Users have the right to use them or look for other options.

Yes, that's correct. Would you like to follow up with a point?

SpanishSoldier

sr. member

Activity: 728

Merit: 256

Quote from: Bit_Happy on April 12, 2015, 11:01:07 AM

Quote from: arlekyn13 on April 12, 2015, 10:56:14 AM

So this is the price users have to pay for using their "regulated" exchange/wallet? Welcome to the "paypal" of bitcoin

CoinBase deserves credit for helping Bitcoin grow stronger in the "real-world". They have the right to decide how to deal with regulations and users have the right to use them or look for other options.

If we apply your logic in the controversy of Net Neutrality, following comes out...

Telecom companies (Read At&T and Verizon for USA) have done a lot for spreading the internet. They have the right to decide which site to load first and which to load slow. Users have the right to use them or look for other options.

p.s. If you dont know what I am talking about, check www.savetheinternet.com

crazyearner

legendary

Activity: 1820

Merit: 1001

I only use localbitcoins due to problems I had with Coinbase and I will never use their services again after the amount of problems I had confirmed my account and how long it took to do so. After that I had funds in my account then when I tried to cash out they suspended my account blaming me saying my ID and documents where incorrect yet submitted them latest bills and ID. Am just glad it was not for a massive amount and eventually got this sorted out with them and once payment had been sent, since I have not used their services.

avatar_kiyoshi

legendary

Activity: 1106

Merit: 1000

Quote from: manselr on April 12, 2015, 11:14:58 AM

The problem should be solved if you withdraw your coins and store them yourself, if you dont want to deal with the regulations.

Agree. Use for buy/sell only Cheesy

Don't store your coin to exchanger although that exchanger is popular. but that's all your choice

Jimmy Wales

member

Activity: 141

Merit: 17

Quote from: LiteCoinGuy on April 12, 2015, 11:10:31 AM

bitcoin needs this kind of service but you always have a choice - use or not use that service.

Yah... I prefer LocalBitcoins.com or its new variant 100bit.co.in, where we dont have to even keep our funds deposited. But, it is all about personal trust & choice.

amiryaqot

legendary

Activity: 1050

Merit: 1000

i think so risk involve to get limited at coinbase with their regulation so as online wallet they are not safe option to store btc into that wallet, blockchain wallet is good to store online.

Enjorlas

hero member

Activity: 788

Merit: 1000

If stories get out that Coinbase is abusing its arbitrary rules, people will simply take their money to a different exchange. That is what makes the free market great.

manselr

legendary

Activity: 868

Merit: 1006

The problem should be solved if you withdraw your coins and store them yourself, if you dont want to deal with the regulations.

Tsquared

hero member

Activity: 500

Merit: 501

http://digitalcoin.org/

Quote from: Bit_Happy on April 12, 2015, 11:01:07 AM

Quote from: arlekyn13 on April 12, 2015, 10:56:14 AM

So this is the price users have to pay for using their "regulated" exchange/wallet? Welcome to the "paypal" of bitcoin

CoinBase deserves credit for helping Bitcoin grow stronger in the "real-world". They have the right to decide how to deal with regulations and users have the right to use them or look for other options.

Completely agree. They provide a service that people can use or not, and they have every right to choose who can use their service based on whatever criteria they choose. People have the right to whatever opinion they have about coinbase, but to suggest they are somehow being unfair by establishing rules around acceptable use seems silly to me. There are many people on this forum offering services, and they often deny access to their services based solely on account age or trust rating, so perhaps these are centralized and regulated services also, and don't deserve to be trusted?

TT

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

bitcoin needs this kind of service but you always have a choice - use or not use that service.

Topic: Beware of CoinBase - page 8. (Read 12537 times)