Topic: CCCB: Coinbase is close to Bankruptcy (Read 3356 times)

Looks like this is it. Coinbase doesn't want to execute my sell order.

It's most probably fud, but what I don't understand is why someone would start a hate campaign against a large exchange/wallet like coinbase?

Hey shitcoin charlee, screw off

Hey Charlie... all fud aside. I was suprised to see Coinbase adopt Ethereum so heavily before litecoin. Surely there's a little love for litecoin at coinbase right? 

All good things though, thanks for your work at Coinbase!

Let's make a dao that hodls bitcoin!!! You get bitcoin without touching filthy bitcoin!!!

I have a virtual version of my snake oil.  We could rub it on  bitcoin to revive it, it may clear up your bitcoin trollism too.  Without bitcoin viable I don't know how you will pay me.  We could use ETH, but my wei and gas are full of bullshit.  My geth keeps crashing and I throw up when I try to read about it to fix it.  The one thing the oil it doesn't cure, ETH nausea.  There is a cermony involved.  I will need you Mom, your sister, a leg of lamb, a donkey, gatorade, a brown bag,  12 ounces of lube, a lighter and one ounce of your troll essence.  You can just pay me in cash.   Hide it somewhere fun in your sister. 

I'd find that unlikely. To say that they're heading to bankruptcy because of integrating another cryptocurrency is absurd. Given that Coinbase is also an exchange you shouldn't make such an assertion just because they'll have another currency in their platform. After all, their services are established in the bitcoin community and there's o evidence suggesting that Coinbase isn't doing well.

Coinbase is pulling a Homero. Bitcoin not viable!

Avoid coinbase at all costs!!

You believe what and why ?  Did you guys come from r/bitcoin?  You gonna start posting twitter feed links next?  They probably got paid by Bill Gates to add the shit coin. Thats not a fact, since I guess I have to make that clear for this low IQ thread.  Its on a separate exchange. They have more fees coming in, they must be bankrupt.(that's sarcasm troll sheep)  The poster has been reading "things".  What things? Anyone ?  A link ? A clue?  Even assumptions have some sort or explanation.   You believe so to guy?  Because they did something you didn't like?  You guys are being so stupid I'm standing up for a big company?  Whaaaaaaaaaaaaaaaat?
Hey, you guys want to buy some snake oil?  Join my new religion? All you have to do is give me all your money, stand on your head and rub the snake oil all over yourself.  You will live forever if you keep buying my oil.  You will get older, but keep up with the oil and you will die then come back to life a sexy 21.  Its true I've been reading things and already proved it. 

I believe so too. Pumping shitcoin means they're in deep trouble.

Also... Why are you promoting cryptocurrencycentralbank  ?  Any empty page on a free site?  Your suspect...

I don't necessarily agree with everything that Coinbase does, but I'm not going to just say they are going bankrupt and start smearing them without ANY evidence provided.  I don't see one link, document or shred of prof for these claims.  Perhaps you want the BTC price to go down?  Smear bitcoin and bring GOX up again.  Temp drop so you can buy some coin?  I really hate negative crypto news used for self gain.  If you are correct, you haven't provided any proof to make as legitimate claim.  Coinbase is home to many businesses and miners who operate within regulations who would not have another way to do fiat.  They are willing to pay the fees and deal with some of the BS that comes with size.  If you don't like em, don't use em.  Crypto evolution will provide increasingly more options. It seems more like a self gain rumor or personal vendetta.  Prove it or open a "Why I don't like Coinbase thread..." to legitimately further your hater campaign.   I left coinbase for my own issues, but I might go back if I made large taxable crypto business.  Your post is useless drama without any proof.  Are located in the US?  If you are you could held "Liebel" and be forced to pay damages. If your claim is false, in print and one person sees it.   You should be careful before making outrageous claims that could cause financial damage. 

I must have missed where you proved this. Why don't you link me to this post?

funny how it's hard to get real evidence on a Ponzi company

we have already PROVED they have no insurance

that's are fairly big lie to have uncovered

keep ur head in the sand

oh it's called Coinbase it must be legit

Don't post any kind of actual evidence of information or anything like that. I strongly prefer to be able to believe random accusations by people I have never heard of with absolutely zero reputation, over evaluating actual facts.

So Bitcoinpro = Bitcointroll ?

I get the feeling that this thread is pure FUD. 

But what if it wasn't?  What if CoinBase disappeared next month?

Bitcoin would go on.  It might take another reputation hit and a price hit.  Maybe VC funding dries up and bitcoin stays low for months or years out of the mainstream, forgotten by the media.

I think that might be a great thing.  It is much better for bitcoin to spread organically, person to person, peer to peer.   With people learning and holding their own keys rather than blindly trusting yet another bank that acts like big brother: papers please, oops sorry your funds are frozen.

Meanwhile, scaling solutions start to come online and mature.

I wouldn't miss coinbase at all.

"Some reports" why not share those so we may better understand how you drew your assumptions.

Same mentality. Hearing a lot of flack on these guys, without any substantial proof. They have been very transparent in the past, I think it would be poor logistics to change this so close to the rebrand. Also, they have insurance, to the best of my knowledge. Makes little sense not to discloses a breach.

I don't really care if its close to bankruptcy or not, this news should be taken with caution, as there is a saying, strong evidence is needed when you are making such a strong accusation. If I were a user of coinbase, no matter if its only a rumor I would remove all of my bits from there and read daily news what will happen during the next 2-3 weeks. If everything is just a bubble and they will be running again like normal, I would restart with them, although personally I strongly advise against any wallet in which you are not in charge of your private keys (against bitcoin philosophy).

Well  they do have to respond even to trolls. In my world the best way to stop a troll is by providing solid proof how healthy the company is.
This should be easy to do right?

P.S. No I don't believe coinbase is closed to bankruptcy.

I don't think they are close to bankruptcy but they have lots of problem recently with their bank withdrawl like i have seen several post and also one today where a guy claimed he lost 10k $ on selling bitcoin in coinbase and support not replying. How they can be so careless with such a large sum of transactions.

Can you help us out here? What is chapter 11?

Sounds like an orchestrated campaign from people who got caught by Coinbase's risk/fraud management procedures and are sore.  

They have venture capital behind them, and they have insurance. The whole point of insurance is to protect you from bankruptcy - you pay your premium to transfer the risk to the insurer. Of all the exchanges out there they are the least likely to go bust because of that.

this whole topic looks like false information and FUD and i can't quite figure out what is the motif behind it!

but also you shouldn't keep your bitcoin at coinbase in the first place, because of one big reason: you don't have access to the private keys.

your the desperation, your ponzi is unravelling, I've been seeing reports

of pending withdrawals, the same signature pattern appearing of all the

other collapse exchanges, nobody wants to rock the boat and make

a bank run so as usual ponzi shill team arrives and the process draws

out for months and years as every last Crypto is suckered off the customers

can you tell me more specific reason?becuase currently i use coinbase and its going normal,i sent bitcoin to my other wallet a minutes ago,sent very fast and low fees,hard to believe if this really happen.

By the time websites publish details and Google indexes those sites - it is too late.  The door will be closed on that day.  I'll post here again in two or three weeks when all you guys are crying about not being able to get your money out.  Hahahaha.

When do people at the top of huge companies post on internet forums to deny rumours

I smell desperation or at least some truth to the rumours, why the hell would you bother posting on here.

I Googled for reports that Coinbase is in trouble and found nothing apart from a few reddit threads. Unless the OP posts links to major Bitcoin news sites stating Coinbase is close to bankruptcy I won't believe it. As the OP already ignored some requests to post links I don't think there are any. The best he could manage is a link to a reddit thread.

ur  a commercial company so start acting like one

at the moment your floundering and it's becoming obvious

with employees pitching in off the record, get your CEO to

make a statement (or media spokesperson etc)

It shouldn't affect the price when they shut down because there are many other exchanges.  Although, we have to wait to see.  Coinbase was pretty big in the US

I`m happy that i deleted my coinbase account and got all my bits.

Coinbase was a major player in the bitcoin market.

Will this affect the bitcoin price?

Yeah, but you can keep thinking that with your money out of their system.  Get your money out now or get Goxxed.  Those are facts.  You don't need proof of the story to understand that you can't lose money if you don't leave it in their system.

This is the second thread I have read this morning saying Coinbase is in trouble without posting anything to suggest this, if there were some tangible evidence you should post it with the opening statement otherwise this thread is just speculation.

Their rebranding could be just to keep up with the developing crypto world and not be left behind, either way without seeing anything to suggest otherwise I think Coinbase is good for now.

Our insurer decides nothing. I don't think you understand how our insurance works.

Luckily public opinion can't change a lie to be the truth. Otherwise, we would be in trouble!

Sadly, people will just keep posting FUD.

Stop trying to spread your FUD around without any tangible proof. You said that based on the current report, Coinbase is close to bankruptcy. But what report are you talking about? A person above me has already asked you that question and you simply ignored that completely and come out and posted a random link to the insurance policy of Coinbase.

I would say that Coinbase is very trustworthy, way more trustworthy than all the other exchanges because they comply to laws and is a registered company. People who trust an unregulated exchange over coinbase is just dumb.

https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-

says employee theft is covered here


Coinbase has held this insurance since November 2013 with highly rated carriers (S&P rating of A+ or A.M. Best Rating of A XV or higher).

now to find out who the insurer is and send them an email (anyone waiting funds)

Directors always deny it vigorously up until the big announcement in the press.  They have to.  Otherwise, there would be a run on the bank.  Only the fools are left hanging around.  Being so quick to deny it by a senior staffer makes me believe this is real. 

people are hestitant to complain for fear of affecting the company

seems as though some big withdrawals have been delayed

I think the insurer covers company theft, id say people

will get their money they, should launch an insurance claim now

though, the insurer will also be quick to put a halt on claims

for new deposits, this is going to be interesting

An insurance covered bankruptcy

I really would like to read some of the "reports" you mentioned here. Although personally I am a bit disappointed with Coinbase to include Ether in their business, I still think they are important for the development of bitcoin use. Please forward the links or full text of the reports.

its up to your insurer to decide that now

public opinion is growing that ur funds have run out

Get back to work and stop fucking around in Internet forums.  When your director of engineering is monitoring internet forums instead of building important shit - you know you are in very big trouble - $75M or $175M - you're going to spend it all if people aren't working.  

i have never used coinbase before because of their stupid rules and Terms of services. but i doubt that they are in any trouble.

can you give any link to these "reports"?

Please stop spreading lies. Coinbase is very healthy and we have a long runway.

Charlie Lee
Director of Engineering @ Coinbase

they are big enough to have a rep here

stop spreading ur own fud

too late to withdraw now, file a claim with their insurer before

they cancel the coinbase contract!!!!

I don't necessarily agree that they're in trouble (and feel the opposite, actually), but I can't stress enough that the point about Bitcoin (and cryptos in general) is that YOU control them. If they're in the hands of another (read: Coinbase) you aren't in control. Whether they're going to crash and burn or not is irrelevant, because you should only have coins on an exchange when necessary. So I disagree with your reasoning but absolutely agree with you saying to remove coins.

Again - what reports?

Produce something specific. I know this forum hates them because they advocate a blocksize increase, but trying to spread FUD about their business without any proof is a bit low...

Can you say 'burn rate'?  $75M is nothing the way these guys were operating a year or two ago.  They've been spending money out their ass with a huge staff of people doing a bunch of bullshit.  The hype will really get to you.  I believe the reports.  Get your money out of Coinbase now - don't wait around until another Gox thing happens.  If you do, it is your own damn fault and nobody around here is going to listen to your fucking crying.

their will be lots of myspace on their webpage soon

maybe even some bingspace like cryptsy

What reports? Coinbase has a lot of venture capital behind them - They raised $75 million in 2015.

They have added alts because they think the blocksize problem means that bitcoin won't make it and they are positioning for a MySpace => Facebook move should it happen.

It is worth noting that both BTC-E and Gemini have come to the same conclusion and have both added Ether in the last month...

Rebranding wont protect them from bankrupty only chapter 11 can do that

That could explain their rebranding and addition of alt coins..

Increasing their income from fees from highly traded trade pairs is the best way to increase their turn over.

The rebrand was probably expensive and unnessary though if they really are in rough waters.

Been seeing enough reports recently to suggest they are in major

trouble,