Coinbase New FUD | Bitcointalksearch.org

Potato Chips

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The articles out there seem to redirect to different firms...

www.prnewswire.com > rgrdlaw.com/cases-coinbase-global-inc-class-action-lawsuit-coin.html
finance.yahoo.com > blockleviton.com/cases/coin
coingeek.com > portnoylaw.com/coinbase/

It's possible that a shady site got mixed it. If anyone's looking to join, confirm the facts first with them before providing substantial info and avoid obscure news site.

sunsilk

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Meanwhile, there's this news about how much Coinbase have earned and it's on a surge. Maybe there's this connection to this fud or fact?

Link:Coinbase profits surge following volatile stretch of cryptocurrency trading

bakasabo

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Coinbase is one of the biggest exchanges, but not the only one. Even if the fud is real, people would just move to other eschange, thanks god there are plenty of them. Even if we “lose” coinbase, as it is kyc oriented, we wont lose a lot. I think this fud was more oriented on Coinbase COIN stock, than on cryptocurrency in general.

The Cryptovator

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Nothing will happen actually. Either it's FUD or real news, I don't think Coinbase doing something illegal that would be the reason shutdown it. Complying with the rules would be mandatory where are you running a business. So if Coinbase missing something it would be corrected. But sadly, we react immediately when this kind of news comes from us. We just turn it into FUD. Nothing else. Many FUD heard about many crypto exchanges, but still nothing happens.

The Sceptical Chymist

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Quote from: Yogee on August 04, 2021, 11:24:55 AM

It may be an attempt to extort money from Coinbase but I wouldn't dismiss this as mere FUD. It's as real as it gets unless those who filed are fake people or doesn't have substantial evidence to pursue the case.

I wouldn't dismiss it as such, either. And it makes me wonder whether people are either overusing that term "FUD" or just plain don't understand what it means. A class action lawsuit is the real deal, not some idiot trying to scare people into doing something or not doing something, which is what FUD actually is.

Binance will survive this, though. They've shown that they're a legitimate exchange that's keen on complying with various countries' laws and regulations, even if they may have made mistakes. And who knows what the result of this lawsuit is going to be, anyway? It's not as though all of them are successful, though I think a lot of them are settled for substantial cash amounts. If that happens in this case, I'd imagine that Binance would increase its fees and other expenses their customers have to pay. Hopefully it won't be any worse than that.

stompix

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Quote from: leea-1334 on August 09, 2021, 07:37:12 AM

Quote from: stompix on August 06, 2021, 05:12:38 AM

How the hell was MtGox fud?
Where is the uncertainty and doubt that thousands lost millions there?

The FUD about Bitcoin dying, I thought this was what we are talking about,,, everytime something big and bad happens,,, people spread FUD about Bitcoin. There is no doubt about silk road, about MtGox about China ban. All these are true facts.
But they all spread FUD about Bitcoin = dead.

No, that's not what we were talking about and I see no way in which you could have come to that idea, nobody mentioned bitcoin, nobody mentioned bitcoin dying, everyone just started screaming FUD, some even without reading the news.

So, where are the false facts in this article?
Where are the false facts about Binance? Can you claim that any of these are false?
Moreover, wherein the article about Coinbase is Bitcoin even mentioned?
Seriously, stop labeling everything you don't like as FUD! That's not how it works.

leea-1334

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Quote from: stompix on August 06, 2021, 05:12:38 AM

How the hell was MtGox fud?
Where is the uncertainty and doubt that thousands lost millions there?

The FUD about Bitcoin dying, I thought this was what we are talking about,,, everytime something big and bad happens,,, people spread FUD about Bitcoin. There is no doubt about silk road, about MtGox about China ban. All these are true facts.

But they all spread FUD about Bitcoin = dead.

magneto

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There is actually some substance to it, imo.

The fact of the matter is that Coinbase has a notoriously bad customer support system. And instead of fixing that up, they decided to get the founders rich first and conduct an IPO this year.

Although that's not securities fraud, that is definitely some shady behaviour. But I can certainly understand the frustraction towards Coinbase and its administration, especially since its share price tumbled since IPO.

stompix

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Quote from: pooya87 on August 04, 2021, 11:22:35 PM

You are confusing negative news with FUD, not everything negative is FUD.
In simple terms FUD is the lies or false news that is being spread to cause Fear, Uncertainty and Doubt among bitcoin owners to fool them into making a bad decision and sell their bitcoins to the market manipulators.
Assuming this news is not a lie, it is simply a negative news and not a big one at that.

Too late, the FUD thing is too deep engraved, if something is bad for bitcoin or companies trading or owning bitcoin it is FUD.
It doesn't matter if the news is legit, the facts are proved, they still say FUD!
Everything that goes against the unicorn dream of lalaland is perceived as FUD!
The cult of denial is here!

Quote from: leea-1334 on August 06, 2021, 05:03:52 AM

MtGOX fud

How the hell was MtGox fud?
Where is the uncertainty and doubt that thousands lost millions there?

But anyhow, this has nothing to do directly with bitcoin, it's about the Coinbase IPO, and this will probably be solved between the buyers that feel like they were deceived at that time and Coinbase. For sure there will be a private settlement that will not be disclosed.

leea-1334

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Quote from: davis196 on August 05, 2021, 01:07:07 AM

Quote

Now i want to know from you guys is this type of Fud will gain a negative effect in peoples mind about bitcoin? Please share your opinion.

This FUD is pointed towards Coinbase,not towards Bitcoin.The fact that some crypto company has problems and/or committed some kind of fraud doesn't mean that Bitcoin is a scam,fraud,ponzi scheme,bla bla...

Unfortunately not everyone will understand how this works. The Binance FUD that has been happening this whole past weeks is also really affecting people's faith in Bitcoin although nothing of the two are at all connected. Very strange right?

MtGOX fud before was understandable as most people were using it for their BTC but today with so many options, this is just news of one company, not anything to do with the network.

pugman

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I mean, I don't think Coinbase will get shut down over this lawsuit, most definitely not. Coinbase is doing ridiculously well in the States, in terms of partnership and what not, and a lawsuit for a mere 100k USD won't do shit to them. And that is all there is. FUD will always exist, no matter what you do. Its just how it is, and its how it will always be. The crypto scene is used to it, the newcomers are not [yet].

Okay nvm, I read about the actual lawsuit over here^[1], it does seem serious, but cannot fully determine what is to happen lets see lets see. It will be interesting to see how Coinbase's somewhat new partners react to this, I am expecting a snake bite in the ass but who can really say what happens behind the curtains.

Ref:
^[1]https://coingeek.com/coinbase-faces-a-class-action-lawsuit/

davis196

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Quote

Now i want to know from you guys is this type of Fud will gain a negative effect in peoples mind about bitcoin? Please share your opinion.

This FUD is pointed towards Coinbase,not towards Bitcoin.The fact that some crypto company has problems and/or committed some kind of fraud doesn't mean that Bitcoin is a scam,fraud,ponzi scheme,bla bla...
The people aren't that stupid and they can distinguish a company from a cryptocurrency.
Every big company is dealing with lots of lawsuits.How many lawsuits do companies like Apple,Amazon and Microsoft have?I'm sure that the number is quite big.Can you mention a lawsuit,which had negative impact over the stock prices of those corporations?

Quote

Fud is now become a common topic in crypto world.

FUD exists since day 1 of the crypto world.Don't you know this?Are you some kind of crypto newbie? Grin

leea-1334

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It's only breaking because they paid media to publish this,,, I bet you every exchange before has had many multiple class action lawsuits against them from various places. But most are badly done they get thrown away or not even the media attention:)

This could be interesting but I always feel investors with losses on trading have no say.

pooya87

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Quote from: Imran232 on August 04, 2021, 11:07:57 AM

Now i want to know from you guys is this type of Fud ~

You are confusing negative news with FUD, not everything negative is FUD.
In simple terms FUD is the lies or false news that is being spread to cause Fear, Uncertainty and Doubt among bitcoin owners to fool them into making a bad decision and sell their bitcoins to the market manipulators.
Assuming this news is not a lie, it is simply a negative news and not a big one at that.

dimonstration

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Dimon69

Quote from: Wexnident on August 04, 2021, 09:37:16 PM

Coinbase closing down doesn't seem like it would, nor should, affect the market.

Seriously? Coinbase is the highest volume exchange on US and so far the most trust trusted Centralized wallet & exchange out there. Closing Coinbase means losing lots of volume on crypto market and this will create a FUD that will strongly affect the current market especially right now that Bitcoin is still trying to find the clear trend. One major FUD will gonna rekt the momentum right now.

Wexnident

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There's been a few articles about it but most of it was last announced in the last week or so, No news yet if the case actually got through or not. Definitely looks fake, but the few news portal sites reporting about it make it unlikely tbh. It's basically Coinbase being an ass of a company and not doing their job properly, I hardly think this is a FUD for the crypto scene. Coinbase closing down doesn't seem like it would, nor should, affect the market.

dansus021

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new day new fud, bad news to bitcoin it already exist from beggining of this coin was created but targeting coinbase i thing the lawsit will fail like the xrp or the usdt

Quote from: Ziskinberg on August 04, 2021, 06:35:33 PM

We found out that spreading FUDs is a winning game for those who want to manipulate the market before but for now, people are already aware and simply they just ignore it. They will just fail.

But anyways, it seems not to worry about if the lawsuit is true or it was just a FUD, a lot of fake news around, honestly. I'd never use Coinbase exchange since before and I never keep my cryptos to any exchanges, so I'm still safe.

yep people like us usually not care, but all new people out there need to be learned from the pas fud Grin

so they can ignore it

just_Alice

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Seems like false news to me. Not many sources are talking about it, though maybe it’s too fresh and in days we’ll see this information in more media. But I wouldn’t believe it for now.

Besides, wasn’t there news about a class action lawsuit against Coinbase just recently? Here, from Doge trader: https://cryptobriefing.com/coinbase-sued-for-over-deceptive-dogecoin-campaign/

At least that article has the link to the real document so that one, I believe, is true. This one looks more like an attempt to advertise someone’s firm on a false hype.

Ziskinberg

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We found out that spreading FUDs is a winning game for those who want to manipulate the market before but for now, people are already aware and simply they just ignore it. They will just fail.

But anyways, it seems not to worry about if the lawsuit is true or it was just a FUD, a lot of fake news around, honestly. I'd never use Coinbase exchange since before and I never keep my cryptos to any exchanges, so I'm still safe.

Oceat

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New fud yet the market doesn't care with this one and it seems that it's not really connected to Bitcoin after all, but if the News says coinbase has been hacked then that would probably make the market to start dumping. I don't know about this News why there's a lawsuit against them it seems that they have some unfinished business in the past that just now showed up.

Anyway, let's just move on but if you are using this exchange you might want to do something about your funds inside just in case. We never know if the exchange would continue to operate if one of their lawsuit pinned them down that might cripple Coinbase itself.

Topic: Coinbase New FUD (Read 338 times)