So withdraw all funds from Coinbase now.
Topic: Coinbase going busto? Numerous people not getting paid by Coinbase currently. - page 2. (Read 6560 times)
September 01, 2014, 05:59:24 PM
So withdraw all funds from Coinbase now.
September 01, 2014, 04:43:22 PM
I didn't realize it but they charge no fees for the first $1,000,000 of Bitcoin payments per customer. That's giving away a lot of profit! Literally the first $10,000 of profit from every customer. They claim to have 36,000 customers that would be $360,000,000 in lost profit. In order for them to start making a profit from every customer they already have their customers need to make $36,000,000,000 first. That's 36 billion dollars in sales before a profit on every current customer. The current Bitcoin market cap is $6,348,864,237. Kinda crazy.
September 01, 2014, 12:20:42 AM
Coinbase's purported address is 548 Market St, SF CA. That's "Earth Class Mail", a mail drop service. Same one Tradehill used.
One Bluxome St, Apt #440 is the home address of Brian Armstrong, which he lists as the principal place of business for Coinbase with the SEC.
VCs funding Coinbase include Andreessen Horowitz, FundersClub, IDG Ventures SF, Ribbit Capital, Union Square Ventures, and Andreessen Horowitz, and Y Combinator. If you're not a jerk, you can contact some of them and ask them if Coinbase is in financial trouble.
One Bluxome St, Apt #440 is the home address of Brian Armstrong, which he lists as the principal place of business for Coinbase with the SEC.
VCs funding Coinbase include Andreessen Horowitz, FundersClub, IDG Ventures SF, Ribbit Capital, Union Square Ventures, and Andreessen Horowitz, and Y Combinator. If you're not a jerk, you can contact some of them and ask them if Coinbase is in financial trouble.
So what your saying is that he is running Coinbase out of his apartment. Nothing really wrong with that as long as he runs an honest business. The last people on earth that would know if he was in financial or any business trouble would be his investors. I worked for a large firm and we doctored financial reports every year at audit time. I don't even think that's necessarily bad provided you are taking care of business (lots of companies do it - if you're really close to your promised return but not quite there, you fudge). I don't want put an axe in their coffin by contacting one of their capital partners and scaring them anyway. I want them to honestly succeed. Hell, I wanted Mt. Gox to succeed too.
August 31, 2014, 11:53:07 PM
Coinbase's purported address is 548 Market St, SF CA. That's "Earth Class Mail", a mail drop service. Same one Tradehill used.
One Bluxome St, Apt #440 is the home address of Brian Armstrong, which he lists as the principal place of business for Coinbase with the SEC.
VCs funding Coinbase include Andreessen Horowitz, FundersClub, IDG Ventures SF, Ribbit Capital, Union Square Ventures, and Andreessen Horowitz, and Y Combinator. If you're not a jerk, you can contact some of them and ask them if Coinbase is in financial trouble.
One Bluxome St, Apt #440 is the home address of Brian Armstrong, which he lists as the principal place of business for Coinbase with the SEC.
VCs funding Coinbase include Andreessen Horowitz, FundersClub, IDG Ventures SF, Ribbit Capital, Union Square Ventures, and Andreessen Horowitz, and Y Combinator. If you're not a jerk, you can contact some of them and ask them if Coinbase is in financial trouble.
August 31, 2014, 09:15:00 PM
Well Coinbase isn't at 1 Bluxome st suite 410. ...
The San Francisco Bitcoin meetup group had a meeting at that exact address last summer and it was sponsored by Coinbase.
Is that his house? Is he running Coinbase out of his residence?
August 31, 2014, 08:36:48 PM
Well Coinbase isn't at 1 Bluxome st suite 410. ...
The San Francisco Bitcoin meetup group had a meeting at that exact address last summer and it was sponsored by Coinbase.
August 31, 2014, 05:45:18 PM
id expect the 'market street' address just to be a mail forwarding service.
You think it's the one in the SOMA? Bluxomer should be near the Safeway across from the train station. I need to go to the store anyway and I like that Safeway. I usually go to to the Safeway in the Castro but there's too many homeless scumbags over there lately. I'll try tomorrow. I know they won't be there but at least I can see if there's a storefront for them.
As we both know about the Mt. Cocks stuff do your work son! do you work son! Report back. I actually had an interview with Coinbase so at least I know of a # and person name. lol....
I'm heading that way this afternoon, as soon as my wife thinks her hair is fixed good enough to be seen in public. lol
I've met your wife, and her hair looks fine. Yours, on the other hand...
What hair? I think I remember having hair back in the 90s. lol
August 31, 2014, 05:33:11 PM
Well Coinbase isn't at 1 Bluxomer st suite 410. That address is in the Bluxome Place Lofts. They are apartments or condos. There was a guy from Vanguard Properties there showing a unit. I got to see the lobby and entrance of a beautiful renovated industrial property. I asked him if there were any businesses operating from the lofts. He told me no, they were zoned residential. He told me he could show me a suite in an office building nearby but there is no way to zone a unit in that building for commercial. If Coinbase is operating in that building they are doing it illegally.
August 31, 2014, 04:57:54 PM
coinbase is too hot, better switch to circle for the time being
simply "use" bitcoin (store for 1 month) ... and, of the start of the month (when price rise) ... sell in ONE SHOT. 
August 31, 2014, 04:24:16 PM
I do have to agree that you should be treating them the same way you would treat a small bank. Think of it this way, if you went down to your local bank to withdraw your money and they didn't immediately give it to you would you ever use that bank again?
Even with the largest banks you can't really just walk in and get HUGE sums on the fly.
I tried to withdraw $25,000 from US Bank at once on the fly to go buy something and they straight up told me no... needless to say shit got a little ugly, a manager came out and they gave me five $5,000 cashiers checks. I had to go to 5 different branches.
They told me in the future for stuff over $5,000 it was best to give them a three day heads up...
My coinbase account was frozen too.
They said it was because I had multiple accounts and instructed me on how to close the others. I did this and now they won't respond back after about 3-5 emails.
I haven't tried to sell there since, but I kind of figure that it is a no go on that as well.
(they don't have any of my Bitcoins of course)
They said it was because I had multiple accounts and instructed me on how to close the others. I did this and now they won't respond back after about 3-5 emails.
I haven't tried to sell there since, but I kind of figure that it is a no go on that as well.
(they don't have any of my Bitcoins of course)
Do you use same multiple accounts on yourself? or have member of the same household having different account?
Multiple accounts tied to one LLC most likely, but I can't recall 100%.
August 31, 2014, 04:16:12 PM
coinbase is too hot, better switch to circle for the time being
August 31, 2014, 03:00:51 PM
I don't think they are going busto but I certainly wouldn't leave any money with them. Just your typical money grabbing, super paranoid about AML/KYC, US-based exchange. I'll take BTC-e over these guys any day.
August 31, 2014, 02:23:27 PM
If coinbase is using bitstamp as their exchange, they probably run into trouble of getting money blocked by certain UK intermediary bank.
It wasn't too long ago a major UK bank make it their policy to refuse to service all bitcoin related wire.
It wasn't too long ago a major UK bank make it their policy to refuse to service all bitcoin related wire.
August 31, 2014, 01:48:06 PM
id expect the 'market street' address just to be a mail forwarding service.
You think it's the one in the SOMA? Bluxomer should be near the Safeway across from the train station. I need to go to the store anyway and I like that Safeway. I usually go to to the Safeway in the Castro but there's too many homeless scumbags over there lately. I'll try tomorrow. I know they won't be there but at least I can see if there's a storefront for them.
As we both know about the Mt. Cocks stuff do your work son! do you work son! Report back. I actually had an interview with Coinbase so at least I know of a # and person name. lol....
I'm heading that way this afternoon, as soon as my wife thinks her hair is fixed good enough to be seen in public. lol
I've met your wife, and her hair looks fine. Yours, on the other hand...
August 31, 2014, 01:12:37 PM
Yeah, you're spot on. That's the biggest bullshit that people spout here, especially the old timers. I've been here almost four years and everyone says well it's you're fault you lost money because you should know better than to trust X company. Well if I have to keep my Bitcoins locked up in a closet the rest of my life because I can't trust anyone then what the fuck good are they?
Store them yourself and spend them at shops you trust. What is the problem?
Here is a quick and dirty method to avoid getting scammed: Only spend your coins at shops that have existed longer than Bitcoin (have a business model that functions without Bitcoin).
Also, if you are trying to "get rich quick", you are probably going to have a bad time.
Really Holiday, really. And what if I want cash? Can you point me to the Bitcoin exchange that's been here since before Bitcoin?
The internet (aka face to face exchange).
Let's see, I want to go crusing yard sales today. I want to get some cash quickly because it's Sunday morning and I don't want the good stuff to be gone. So do I go to the ATM on the way or do I cruse the internet and set up a meet wasting a couple of hours first. Bitcoin isn't there yet. Maybe someday but not today. How long it takes to get there will depend on how many trustworthy exchanges can be set up in every country first.
Well if you know it's not "there yet" then you also know that you are using "experimental" services; and if you know that, then you know who's fault it is if and when you lose money.
Hell, the entire Bitcoin project itself is an experiment! Getting involved is a risk. Unless someone is forcing you to use Bitcoin, you're damn right it's your fault if you lose money!
LOL - well I guess I'll just keep them hidden in my closet.
August 31, 2014, 01:04:48 PM
id expect the 'market street' address just to be a mail forwarding service.
You think it's the one in the SOMA? Bluxomer should be near the Safeway across from the train station. I need to go to the store anyway and I like that Safeway. I usually go to to the Safeway in the Castro but there's too many homeless scumbags over there lately. I'll try tomorrow. I know they won't be there but at least I can see if there's a storefront for them.
As we both know about the Mt. Cocks stuff do your work son! do you work son! Report back. I actually had an interview with Coinbase so at least I know of a # and person name. lol....
I'm heading that way this afternoon, as soon as my wife thinks her hair is fixed good enough to be seen in public. lol
HAHAHA ^^ ....getting pretty for it love it
August 31, 2014, 12:58:30 PM
id expect the 'market street' address just to be a mail forwarding service.
You think it's the one in the SOMA? Bluxomer should be near the Safeway across from the train station. I need to go to the store anyway and I like that Safeway. I usually go to to the Safeway in the Castro but there's too many homeless scumbags over there lately. I'll try tomorrow. I know they won't be there but at least I can see if there's a storefront for them.
As we both know about the Mt. Cocks stuff do your work son! do you work son! Report back. I actually had an interview with Coinbase so at least I know of a # and person name. lol....
I'm heading that way this afternoon, as soon as my wife thinks her hair is fixed good enough to be seen in public. lol
August 31, 2014, 12:50:03 PM
id expect the 'market street' address just to be a mail forwarding service.
You think it's the one in the SOMA? Bluxomer should be near the Safeway across from the train station. I need to go to the store anyway and I like that Safeway. I usually go to to the Safeway in the Castro but there's too many homeless scumbags over there lately. I'll try tomorrow. I know they won't be there but at least I can see if there's a storefront for them.
As we both know about the Mt. Cocks stuff do your work son! do you work son! Report back. I actually had an interview with Coinbase so at least I know of a # and person name. lol....
August 31, 2014, 12:46:14 PM
Yeah, you're spot on. That's the biggest bullshit that people spout here, especially the old timers. I've been here almost four years and everyone says well it's you're fault you lost money because you should know better than to trust X company. Well if I have to keep my Bitcoins locked up in a closet the rest of my life because I can't trust anyone then what the fuck good are they?
Store them yourself and spend them at shops you trust. What is the problem?
Here is a quick and dirty method to avoid getting scammed: Only spend your coins at shops that have existed longer than Bitcoin (have a business model that functions without Bitcoin).
Also, if you are trying to "get rich quick", you are probably going to have a bad time.
Really Holiday, really. And what if I want cash? Can you point me to the Bitcoin exchange that's been here since before Bitcoin?
The internet (aka face to face exchange).
Let's see, I want to go crusing yard sales today. I want to get some cash quickly because it's Sunday morning and I don't want the good stuff to be gone. So do I go to the ATM on the way or do I cruse the internet and set up a meet wasting a couple of hours first. Bitcoin isn't there yet. Maybe someday but not today. How long it takes to get there will depend on how many trustworthy exchanges can be set up in every country first.
August 31, 2014, 12:38:24 PM
I don't think that we should jump to conclusions just because something takes a while at some point. Do we have any official explanation about this whatsoever? This kind of stuff may have several valid reasons!
It doesn't matter what the "reasons" are. Depositors have a right to withdraw funds whenever the depositor wants to. If Coinbase is legit, it won't hurt them at all if every depositor withdraws all their funds. If Coinbase has been stealing customer funds, it's better to find that out sooner than later.So withdraw all funds from Coinbase now.
Yeah, if you're worried that something may be wrong, you're definitely right that it's the best thing to get your funds out ASAP, sure! But I wouldn't jump to conclusions that Coinbase is going bust just yet
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