My first orders went through fine at 1 BTC.... it's when I jumped to 10 BTC that my order was canceled an hour before it was supposed to show up. Glad you received your BTC.
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Topic: Coinbase cancellation issues are NOT resolved. - page 2. (Read 4319 times)
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My first orders went through fine at 1 BTC.... it's when I jumped to 10 BTC that my order was canceled an hour before it was supposed to show up. Glad you received your BTC.
With a large portion of the community reporting that their orders had been cancelled, I went ahead and gave coinbase a try. After waiting over 7 days for 1.0 BTC, I was fortunate enough to receive it. Hours later then the projected time but none the less I received my funds and immediately transferred it out of there!
I still have not received my BTC as promised. There is no evidence of a transaction in either my bank account or my Coinbase account. I have sent a couple emails to support but I doubt they work weekends. Will post if they actually reverse the cancellation as promised. So this day #9 since my initial order. Glad BTC is still going up. lol!
Probably a bit off topic but what exactly does Coinlab do? I read through the website and it seems full of the vagaries you'd expect from a nebulous corporate holding company website
Basically what they do they talk up a storm. Then eventually they say the wrong thing, get bitchslapped by the actual players, scamper away and wither in a dark corner somewhere. Sideshow entrepreneurship.
I had my Coinbase order cancelled yesterday even though I have made transactions with them before:
"On Feb 23, 2013 you purchased 10.00 BTC via bank transfer for $286.69.
Unfortunately, we have decided to cancel this order because it appears to be high risk."
I bought in at the low last week of $28.20 (BTC Currently 34.85 lol). After sending multiple emails to support and tweeting them I received this email:
"Hi,
Sorry about that! After manually reviewing your account I've whitelisted it so you shouldn't experience any additional issues going forward. I've also pushed through the transaction that was canceled previously (at the original exchange rate you locked in), so you should have those coins by the end of tomorrow. In addition, we recently wrote a blog post about this you might find interesting: http://blog.coinbase.com/post/44046687068/high-risk-transactions
Hope it helps and sorry again for the trouble!"
"On Feb 23, 2013 you purchased 10.00 BTC via bank transfer for $286.69.
Unfortunately, we have decided to cancel this order because it appears to be high risk."
I bought in at the low last week of $28.20 (BTC Currently 34.85 lol). After sending multiple emails to support and tweeting them I received this email:
"Hi,
Sorry about that! After manually reviewing your account I've whitelisted it so you shouldn't experience any additional issues going forward. I've also pushed through the transaction that was canceled previously (at the original exchange rate you locked in), so you should have those coins by the end of tomorrow. In addition, we recently wrote a blog post about this you might find interesting: http://blog.coinbase.com/post/44046687068/high-risk-transactions
Hope it helps and sorry again for the trouble!"
Probably a bit off topic but what exactly does Coinlab do? I read through the website and it seems full of the vagaries you'd expect from a nebulous corporate holding company website; "Provides liquidity" - Does this mean they buy and hold tonnes of Bitcoins and USD's to resell at 'wholesale' rates to their customers or that they are an investment group that provides capital backing to existing/new services or some other entirely different 'financial' service?
Apparently BitInstant and a few ventures I've near heard of use them (Ribbon? ZipBit?) but it's not clear for what exactly. They've also got endorsement from some of the 'big-cheeses' in Bitcoin, and investment from some of those with more colorful histories in Bitcoin ventures (Roger Ver: https://bitcointalksearch.org/topic/please-delete-131574) - it all seems very cozy. I'm sure they are providing a useful service - it'd just be interesting to know what it actually is.
Apparently BitInstant and a few ventures I've near heard of use them (Ribbon? ZipBit?) but it's not clear for what exactly. They've also got endorsement from some of the 'big-cheeses' in Bitcoin, and investment from some of those with more colorful histories in Bitcoin ventures (Roger Ver: https://bitcointalksearch.org/topic/please-delete-131574) - it all seems very cozy. I'm sure they are providing a useful service - it'd just be interesting to know what it actually is.
I keep seeing the same thing over and over. People having orders canceled as the price rises while orders at a higher price go though. They complain publicly, their issue is fixed and they act as if everything is now fine.
It's not fine.
Someone please explain to me what kind of fraud detection algorithm stops nearly identical transactions from the same person. Their "fraud detection" looks a lot like fraud perpetration.
It's not fine.
Someone please explain to me what kind of fraud detection algorithm stops nearly identical transactions from the same person. Their "fraud detection" looks a lot like fraud perpetration.
Just another shady ycombinator product. This is their MO. For instance their flagship airbnb thing pretty much consists of enticing ignorant people into breaking the law (yes, it's illegal to rent your rented place to third parties most anywhere in the civilized world) in order to make a few pennies. Basically the breakdown is, you partner with airbnb, stranger pays you fifty bux to mess up your place while you're away, airbnb collects twenty, you pay 2-5000 dollars in fines a coupla months later. Ycombinator business.
Just on the strength of the appallingly scammy record anything coming out of there should be regarded with extreme caution, but then coinbase/coinwhatever in particular is a pretend-company that took a little venture capital last year, pranced around Bitcoin making taakiesque claims and statements all the while failing to develop anything like a revenue stream or a product of any utility.
They will be running out of money later this year. Show some common sense and use one of the very numerous alternatives that actually work today rather than regret it tomorrow. Just a little PSA seeing how most everyone in the know seems to prefer not to talk about the scum and the noobish and naive get regularly fleeced.
Their algo also seems quite odd, since there isn't unsual with normal activitty of the same client who had many sucssesfful transactions is labeled high risk, (not withdraw funds).
I see at least three persons who have good history got axed once for no reason.
I see at least three persons who have good history got axed once for no reason.
For those interested, it took two business days (from Friday until Tuesday) for Coinbase to respond to a support ticket I created regarding a cancelled transaction. They went back and cleared the transaction at the original price I was quoted and they credited the BTC to my account. Then, they "whitelisted" me to avoid these complications with my account in the future.
I got an cancel today 
and just emailed back ask for correcting the error, will update their response.
and just emailed back ask for correcting the error, will update their response. 
Do you have an issue with coinbase? Have you contacted coinbase about it?
I keep seeing the same thing over and over. People having orders canceled as the price rises while orders at a higher price go though. They complain publicly, their issue is fixed and they act as if everything is now fine.
It's not fine.
Someone please explain to me what kind of fraud detection algorithm stops nearly identical transactions from the same person. Their "fraud detection" looks a lot like fraud perpetration.
It's not fine.
Someone please explain to me what kind of fraud detection algorithm stops nearly identical transactions from the same person. Their "fraud detection" looks a lot like fraud perpetration.
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