Coinbase is silently tracking how you spend you coins

brobbel

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Quote from: Bibite on July 11, 2017, 09:34:41 AM

No. it has to be from Coinbase to a betting/casino site directly. If you use a middleman (your software wallet) then it's good.

Not correct. If they can see (and that's easy) your money comes from gambling, then it is and will be a problem. Even with one or few wallets in between.

Bibite

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Quote from: marky89 on August 20, 2016, 05:10:20 PM

Quote from: zenitzz on August 20, 2016, 04:52:02 AM

Yes they are always checking every transaction you do because those regulations do not allow you to gamble, I thought no problem will it as long as they keep your personal data safe.

What I'm curious about is the extent to which they link outputs to you. If you use Coinbase to directly send funds to a betting site -- OK, I see it. There is a direct connection there. But how about if you send coins from Coinbase to your desktop wallet, then send to the betting site? Will they still shut down your account? Can anyone comment on that? I wonder how they would be able to prove that it was you, their customer, sending money to the betting site.

No. it has to be from Coinbase to a betting/casino site directly. If you use a middleman (your software wallet) then it's good.

CoinCidental

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Si vis pacem, para bellum

Quote from: bitbet-info on July 15, 2016, 11:24:47 PM

Hello,

We are the admin team for https://bitbet.us, and it has come to our attention that Coinbase has silently started tracking how their customers spend the coins purchased on their site.

One of our users what threatened by Coinbase with account closure after he placed a bet on our site.

The implication is basically that Coinbase is now officially in the business of deciding what you can and can't do with your own money.

They've essentially lowered themselves to the level of the likes of VISA and Paypal.

Should you decide to spend your coins on dildos and should Coinbase tomorrow decide that dildos are something they disapprove of, you may face account closure.

Caveat Emptor.

God dammit..... How can I buy muh dildos now??

marky89

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Quote from: zenitzz on August 20, 2016, 04:52:02 AM

Yes they are always checking every transaction you do because those regulations do not allow you to gamble, I thought no problem will it as long as they keep your personal data safe.

What I'm curious about is the extent to which they link outputs to you. If you use Coinbase to directly send funds to a betting site -- OK, I see it. There is a direct connection there. But how about if you send coins from Coinbase to your desktop wallet, then send to the betting site? Will they still shut down your account? Can anyone comment on that? I wonder how they would be able to prove that it was you, their customer, sending money to the betting site.

eli113

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void

there is a well established bank money system and all regulations is about to keep it as is.
e-currencies can live without that much connection with flat bank systems and/or regulations
but we must change our ways and stop thinking always just the euro/$ equity of our coins.
make if friend to friend , or use services or goods directly on Bitcoins or other alts will do.

have a nice day all.

illyiller

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To some extent, this is expected. US laws are quite onerous, and US regulatory and law enforcement agencies can be quite brutal to deal with. However, I do recall hearing about instances where they wrongfully closed peoples' accounts because their blockchain analysis was wrong. Something about confusing Bitstamp wallets with coins that eventually ended up in dark markets, or something.

Anyway, the fact that they are watching so closely is cause for concern. I would only use Coinbase to send fiat into, buy coins, and send them to cold storage. I would not use them for anything else, and I certainly would not send coins there.

zenitzz

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Yes they are always checking every transaction you do because those regulations do not allow you to gamble, I thought no problem will it as long as they keep your personal data safe.

Carmen_Sandiego

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Good to know about it.

Dark.Angel

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Of course. Coinbase have are a regulated company following regulated rules, and I sure it for security reasons, but we can tracking when we spend our Bitcoin

Hazir

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★Nitrogensports.eu★

We don't know for sure how big Coinbase's contribution to Artem Vaulin arrest really was, we can only speculate at this point.
What is certain, however, is their their spying behaviour is a fact and they will give out any personal information of their users to anyone who asks them.

SmartIphone

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Quote from: Pursuer on August 01, 2016, 03:01:16 AM

Quote from: SmartIphone on July 27, 2016, 04:10:52 PM

Quote from: Hazir on July 24, 2016, 03:20:53 PM

Quote from: SmartIphone on July 24, 2016, 08:31:01 AM

They track anyone, not only those that try to gamble with the coins that are in coinbase's addresses.
Even the kickass torrent owner was tracked by coinbase and that's how he was arrested recently.
Because they have zero fee on transaction doesn't mean that is free!

Anyone who is lured by zero fee policy of Xapo or Coinbase or any other online wallet provider are simply shortsighted and greedy individual.
This is what you will bet for not paying that 1 cent fee - lack of anonymity, tracking of your every transaction, invigilation and KYC/AML procedures everywhere.

I was a bit surprised when I heard how exactly coinbase helped in arresting the kickass owner, the zero transaction fee is good for those that make transaction very often and when the total amount of transactions is not big which can help the sender saving a lot on fees.

I don't think they really helped anything, the kickass owner had screwed up a lot, and he had a lot of his bank accounts connected to the site by receiving advertisement payment directly to them.
I think the coinbase account for bitcoin was only used as for receiving donations only not every money transaction like payments.

and even if my speculation of this situation is wrong but I seriously doubt that the zero fee was the reason for using them because he already had made millions of dollars from the site and what is a pathetic btc transaction fee compared to that Cheesy

I think that they helped them because coinbase has the IP of every user and has stats where are these bitcoin coming from and where are their users spending them, so when apple facebook and coinbase merged the power the full details of the kickass owner came up and he got arrested in this way I think.

Herbert2020

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coinbase is based in United States and you would be a fool to believe they haven't been tracking your bitcoins and how you use them. and this is true about all of the services based in that country. they all will track you and make detailed logs from your activities.

windale

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what's the purpose coinbase tracking spend coin is client
i think coinbase anticipating about money laudnring
ilegal money, gamble, terorisme, narcotics, alcohol and more

Pursuer

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Where is my ring of blades...

Quote from: SmartIphone on July 27, 2016, 04:10:52 PM

Quote from: Hazir on July 24, 2016, 03:20:53 PM

Quote from: SmartIphone on July 24, 2016, 08:31:01 AM

They track anyone, not only those that try to gamble with the coins that are in coinbase's addresses.
Even the kickass torrent owner was tracked by coinbase and that's how he was arrested recently.
Because they have zero fee on transaction doesn't mean that is free!

Anyone who is lured by zero fee policy of Xapo or Coinbase or any other online wallet provider are simply shortsighted and greedy individual.
This is what you will bet for not paying that 1 cent fee - lack of anonymity, tracking of your every transaction, invigilation and KYC/AML procedures everywhere.

I was a bit surprised when I heard how exactly coinbase helped in arresting the kickass owner, the zero transaction fee is good for those that make transaction very often and when the total amount of transactions is not big which can help the sender saving a lot on fees.

I don't think they really helped anything, the kickass owner had screwed up a lot, and he had a lot of his bank accounts connected to the site by receiving advertisement payment directly to them.
I think the coinbase account for bitcoin was only used as for receiving donations only not every money transaction like payments.

and even if my speculation of this situation is wrong but I seriously doubt that the zero fee was the reason for using them because he already had made millions of dollars from the site and what is a pathetic btc transaction fee compared to that Cheesy

OROBTC

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Quote from: Hazir on July 24, 2016, 03:20:53 PM

Quote from: SmartIphone on July 24, 2016, 08:31:01 AM

They track anyone, not only those that try to gamble with the coins that are in coinbase's addresses.
Even the kickass torrent owner was tracked by coinbase and that's how he was arrested recently.
Because they have zero fee on transaction doesn't mean that is free!

Anyone who is lured by zero fee policy of Xapo or Coinbase or any other online wallet provider are simply shortsighted and greedy individual.
This is what you will bet for not paying that 1 cent fee - lack of anonymity, tracking of your every transaction, invigilation and KYC/AML procedures everywhere.

If anything (in Cyberland) is free, then YOU are the product. Your information, etc. GOOG and others are very happy to offer such free services as email, YouTube, etc.

Whenever I get BTC, from whatever source, I mix them before I spend them. Or before sending them to a cold wallet.

Lionidas

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Hate the though of this sort of thing happening.
It is just like farming personal data and who knows what they are going to do with it once they aquire enough of it on each and every individual that has signed up for their wallets there.
Is it even possible to cancel your account once you have one? Angry

I thought not. Undecided

neutraLTC

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And this is why you all should use a service like www.blocktrail.com which will never track you and never close your account. Never.

Gahs

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Minter

If Coinbase decides to close your account, do they allow you to withdraw all that you have left with them or you just have to say bye bye to your remaining coins?

SmartIphone

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Quote from: Hazir on July 24, 2016, 03:20:53 PM

Quote from: SmartIphone on July 24, 2016, 08:31:01 AM

They track anyone, not only those that try to gamble with the coins that are in coinbase's addresses.
Even the kickass torrent owner was tracked by coinbase and that's how he was arrested recently.
Because they have zero fee on transaction doesn't mean that is free!

Anyone who is lured by zero fee policy of Xapo or Coinbase or any other online wallet provider are simply shortsighted and greedy individual.
This is what you will bet for not paying that 1 cent fee - lack of anonymity, tracking of your every transaction, invigilation and KYC/AML procedures everywhere.

I was a bit surprised when I heard how exactly coinbase helped in arresting the kickass owner, the zero transaction fee is good for those that make transaction very often and when the total amount of transactions is not big which can help the sender saving a lot on fees.

Hazir

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Activity: 1596

Merit: 1005

★Nitrogensports.eu★

Quote from: SmartIphone on July 24, 2016, 08:31:01 AM

They track anyone, not only those that try to gamble with the coins that are in coinbase's addresses.
Even the kickass torrent owner was tracked by coinbase and that's how he was arrested recently.
Because they have zero fee on transaction doesn't mean that is free!

Anyone who is lured by zero fee policy of Xapo or Coinbase or any other online wallet provider are simply shortsighted and greedy individual.
This is what you will bet for not paying that 1 cent fee - lack of anonymity, tracking of your every transaction, invigilation and KYC/AML procedures everywhere.

Topic: Coinbase is silently tracking how you spend you coins (Read 3005 times)