Topic: Coinbase is run by idiots (Read 1525 times)

Even me, I am not trusting such organization at all 

PayPal is warming up to bitcoin




Meanwhile, Bitcoin is currently trading at U$472.55 and falling fast.

It seems that your statement is not impartial that you describe leaders of coinbase by idiots . Let me say that every company or institution has an aim and this aim is to realise a profit because this their nature and i can't explain here this nature more clearly and deeply for reason of not getting out from essentials ,in addition coinbase and blockchain and other banking platforms can mistake sometimes and sometimes not. Moreover i need real proof that let you judge that they are idiots .

Have you been affected by this? I've heard rummors about this, but then again I've heard stories about people depositing directly from darknet markets to Coinbase. I've never heard abotu someone being affected by such a supposed system checking where incoming coins are from.

I really am beginning to believe something is up at Coinbase. I know they've been around a long time but the support cases keep piling up on their community forum of very negative stuff. No responses from support in most cases, no resolution for weeks. It's a bad sign and the company may be falling apart. They are stealing money at this point of mine and several others that have paid for bitcoins and because of their faulty software have not received them nor has Coinbase worked overtime to get these people their coins. Rather they just take a fuck you approach and ignore all emails, and support requests.

Another downfall of Coinbase is you can't use "bad" coins on their site or you'll be banned. I understand that they are trying to follow U.S. regulation and stay legal, but these actions go against the very nature of bitcoin. If someone wants to gamble a bit, why not let them?

I would recommend to anyone who does not expect profits from the fast movements, to look at the conditions of https://www.bitcoin.de/en

Yes, I believe eventually Coinbase will release the bitcoin but not without negligence on their part.

I am fully verified and when I made the purchase it was an Instant buy meaning when I clicked to purchase it told me the bitcoin would be available immediately. They did not fulfill this and something on their end hiccuped and caused the transaction to get stuck. In fact it still is showing The bitcoin will arrive by the end of today and this was on June 9th. The funds were immediately withdrawn by my bank and the transaction posted successfully and Coinbase has been paid. This was not one of those buys where they wait to get the funds from the bank account several days later this was an Instant Buy.

I immediately emailed them once I saw the bitcoins were not released. In fact I've made Instant purchases since this one and they have all worked fine.

I have been in contact several times via Email, the resoultion center online, and live chat without any resolution. They keep stalling and saying it is being worked on but 7 full business days is no excuse and this should have been resolved immediately.  From their community center I can see several others have had this same problem without any resolution as well. Now as you can see from the big drop back down on the BTC price this has cost me money. What if they take so long to finally fix the problem and the bitcoin price drops considerably lower than the price I paid. That is not cool. If they had solved this problem immediately like they should have I could have made a sell and all is well and done.

I have filed a complaint with the Better Business Bureau as my first step to getting their attention. I would rather not initiate any sort of chargeback either but at what point in time do you keep waiting for them to fix and release the bitcoins from an error on their own negligence of software that could cost me a financial loss. Support in their community just says keep hanging on but its been several days and NOTHING is getting done. Bitcoin is dropping back down hard I've been around this community since 2011 I've seen the huge ups and downs and in my opinion its on a big drop. It will not surprise me one bit that when they finally "fix" the stuck transaction bitcoin price will be worth lower than what I paid.

This is fraudulent behavior on their behalf. If they don't have the necessary staff to perform work when their own website fails then perhaps they shouldn't be in the business or gasp hire more staff.

There does seem to be a few complaints regarding Coinbase and their terrible support, I have only had to contact them the once and they got back to me in a couple of days and resolved my problem, albeit I am only talking an issue with < 1 BTC.  I hope you get your issue resolved.

then their customer service lost its functionality to fix their client's problem,automated system will not always running smooth so it's why they have to hire an engineer and give them salary every damn month

I would suggest that you not attempt to initiate any kind of chargeback regarding the transaction in question until you are 100% sure that coinbase is not going to give you either your BTC or your fiat back, as it will only cause additional headaches and possibly delays.

Prior to initiating an instant buy on coinbase, you will need to have both a bank account and a credit card linked to your coinbase account. Did both your credit card and bank account have sufficient funds available (and sufficient cash advance credit line available) to cover the instant buy prior to initiating the instant buy?

On the transaction for the purchase in question, when you click on the transaction, you should be shown certain details of the transaction, including when the bitcoin should (will be) released; what does this say?

How did you initiate the support for coinbase (other then live chat)? I have had to contact support a couple of times in the past, and always contacted them via their website, and would receive a response fairly quickly (within a few days, even if a resolution was not available at that time). They would respond to me via email, and I could respond to their response via email.

Purchased decent amount of coins now going on week and a half ago when bitcoin was $550. Still nothing from Coinbase. Support only replies if I can manage to get to the live chat. That live chat option only pops up every once in a while on the site. Even when getting to the live chat the support has no power to either return my funds to my bank or simply give me the bitcoins that I paid for. Coinbase has already by now received the funds to their bank. I made an instant debit purchase and those funds cleared days ago. They reiterated they WILL NOT simply refund my purchase even though I'd be giving up some decent profits since bitcoin surged since I bought just to end this fiasco but rather I have to wait what is now almost two fucking weeks. Sadly, this has come to the point that has given me not much other choice than to go to my bank and file fraud charges against Coinbase.

Circle is awesome.  Instant buys, and you can transfer your bitcoin wherever you want instantly.   Coinbase sucks, I agree.  I used them in the past and they were ridiculous.   

I know many people are lock due to they not follow the TOS.. Coinbase is just like the same as here in our wallet if the price is increasing the price of bitcoin there's something will happen lock locking withdraw..
They are just wise making money from us.

Yep been a week now and my bitcoins are still pending and haven't been released. They claim for days engineers are "working" on it. Really how hard can it be to release the coins I purchased. I've already paid for them and they continue to hold my Bitcoins hostage. Bitcoins are also up almost 40% since I made the purchase. Coinbase support is horrible.

Its not only coinbase but every exchange dealing with bitcoins is losing it.Fuckin sad to see this motherfuckers are just here to make profits and not support the community.My coins are stuck with payza since a week now and yet no withdrawals are processed.This is a fair warning to everybody to withdraw their coins from all the exchanges no matter how trusted that is.

http://qntra.net/2016/06/mere-265-bitcoin-sell-causes-flashcrash-at-coinbase-chronically-thin-orderbook-to-blame/
Their exchange isn't great.

There are 7 or 8 complaints in the MarketPlace sections of this happening over the last few weeks - well, since the price increase started, actually. One guy had $10K deducted from his bank account - it took him over 3 weeks to get his money back. Some people have got their btc, some got back their money but no btc. This happened last time there was a price increase, too. They call it 'fraud prevention', whatever that means.

What moments do you speak of that are weird?

Coinbase is not run by idiots, but their wallet servise is quite unreliable and expensive when it comes to acquiring or selling bitcoin. You'd be better of using any other service to buy/sell bitcoin other than them if what you're looking to do is exchange bitcoin for FIAT.

The OP is talking about the buying service, not the exchange. Even then it sounds like the exchange has had a few weird moments too.

The only idiot is the one who thinks coinbase is run by idiots. Its a seriously major exchange, not Mtgox. Remember that

Their system is automated. It not Coinbase fault, its their system bugged out during price spikes

Yep. This is par for the course when there's a big price movement. I've seen a bunch of people complaining about it on other occasions. I dunno if Circle is any better at keeping on top of it but I'd be taking my business elsewhere.

I don`t trust Coinbase anymore.Their support is horrible.

I would never buy btc from them anymore.Their "instant" buy isn`t very instant 

Hope that your problem will be fixed OP.

From you're description it sounds like some sort of loss prevention mechanism kicked in. I'm probably wrong. Perhaps it was just another natural error.
Have you tried other exchanges like btc-e and bitstamp? They're the only ones i can trust when it comes to trading.

I'm pretty sure this isn't the only case of this happening. I distinctly remember many others having similar issues when there price spikes.

They would get denied their price if the price rocketed right after their purchase. Of course this is just from my memory of people's posts, so don't quote me on it.

So I've been using Coinbase quite a bit for buys. Last week I made an instant purchase buy just before the big spike in price and the bitcoins should have been released immediately. For some reason, the transaction got stuck and the bitcoins were not credited to my account but stuck in a pending state. I sent in numerous emails none of which were returned but finally was able to reach someone on the live chat. He couldn't fix the situation and escalated the matter to a supervisor who would fix the problem and release my bitcoins. Mind you the funds have already been withdrawn from my bank account and completed. Well its still hasn't been fixed and when I go back to the same chat agent he cannot guarantee me when I will receive the bitcoin and give a definitive timeframe. It should have been a top priority to resolve a customers purchase. I have never had problems with coinbase before but when something breaks on their end good luck getting someone to promptly fix it. It's in my opinion this company is run by idiots.