Topic: Coinbase - *Positive* Feedback (Read 3779 times)

I'm guessing that they're trying to cancel my withdrawal after the fact, several days later, now that each bitcoin is worth about $350 less than what I sold them for.

Obviously I will not stand for that. I have screenshots of the sale details, transaction history, and an Excel file that Coinbase emailed to me showing that the sale went through and was not canceled. So there is a legal record of how much money they owe me. They just have to send me the money.

I will be emailing their tech support on a daily basis until I get my money, and I'll let the forum know what happens.

It's a completely valid hypothesis.

I would not read to much into the makeup of the investors though.  TPTB are terrified of the occupy-x type stuff and have been heaving buckets of taxpayer dollars into the surveillance state apparatus.  Just about any two-bit company with a few guys who can surf the web can make gobs of money by doing basically nothing of any particular value.  Shrewd investors have put money into a lot of these, and probably in most cases co-incidentally with the money pumped in by the state through the intelligence community investment wings.  So it is hardly surprising to see a lot of these name co-mingled.  Talk about your 'merger of state and corporate power'!  What a witch's brew.  Interesting times we live in here in the U.S.

Back to Coinbase, yes, it is interesting and potentially telling that they seem to get a free ride.  But then so did Gox...until they didn't.  I've always felt it an interesting hypothesis that Coinlabs were supposed to be the focus point (which Coinbase is accused of being in this thread) but something went wrong.  That something may have been Karpeles figuring things out and getting cold feet.  And subsequently being punished.

For my part it does not matter much.  IMHO, Bitcoin is pretty useless for privacy anyway and probably always will be do to design deficiencies.  Eventually something more promising will probably pop up, but most likely only when driven by a real need.  In the mean time I need a way to capitalize on being an early-ish adopter.  Coinbase is doing me right in this regard.  If the NSA is to thank then...well...Thanks NSA.

Put on your tin foil hats - some people claimed coinbase is jointly operated by NSA and other government organizations.

https://bitcointalksearch.org/topic/nsa-cia-fbi-took-control-of-bitcoin-373470


Any thoughts? It's sad for crypto when even remotely secure and more influential website has to depend on governmental power for it to work.

Sheesh...I'd hate to see your negative feedback!

While I'm here, I've had several more successful sales and cash was deposited in my account on-time.  I've been lucky over the past several weeks and have hit some peaks.  If Coinbase had a mind to line their pockets by fucking with my nicely timed sales, they deferred to do so in my case.  So far.

I still wish that Coinbase adjusted their prices upward more quickly (less dampening.)  My sales have been significantly under Mt. Gox prices which, admittedly, are influenced by operational conditions.  At the end of the day, though, Coinbase gets me $10k chunks promptly whenever I ask while Mt. Gox still has my $5k which they've been sitting on since last summer.

Coinbase is a joke.  You're playing russian roulette with coinbase.  Their algorithm is programmed to defraud the customer.  I can't even describe how many things they do that are dishonest/fraudulent.  They cancel deposits on bull markets, cancel withdrawals (yes even withdrawals, lol) on bear markets and much more shady stuff.

https://bitcointalksearch.org/topic/psa-coinbasecom-defrauds-with-different-schemes-341188

You're happy with them because you got coins, and coins went up.  But imagine if your money goes missing for 1-3 weeks and you're wondering "did my money get stolen or not", then after 3 weeks, you realize it has been stolen.  Its like the stab you and then twist the knife.

check this thread out

https://bitcointalksearch.org/topic/how-to-file-a-proper-legal-complaint-against-coinbasecom-375245

I'm having a problem with this same issue of a fake "purchase" of bitcoins equal to the amount I sold several days ago. Coinbase calls it an "adjusting entry" and it appears they just put the bitcoins that I sold back into my account and erroneously claim that I "purchased" them back right after I sold them -- which I did not do. I am waiting to hear back from the company in response to a support ticket and email.

I have had good experiences with Coinbase. The only problem is that transactions can take up to a week with them, but that is to be expected when dealing with ACH transfers from banks. I will update this thread if there are any problems in the future.

As for storing bitcoins on Coinbase, I store them in cold storage and suggest anyone else do the same since you probably shouldn't leave your bitcoins on a third-party online wallet.

No problems at all with them since I started using them. However, I recently moved most of my coins to my own cold storage for their safety. It was my reaction to BIPS getting hacked. Nothing other than positive feedback is what I would give them, the exception being that their iOS app was removed by Apple, but we all know how Apple is.

By the time I signed up they provided an option to take the 2-factor code via land-line which is good because I live out of cell phone range.  I also don't clear my cache often and don't use incognito mode or similar so I can at least only worry about 2-factor once every 30 days.  I would prefer to have the option to turn off 2-factor auth though.

Validation to level-1 in my case was very quick, and level-1 is all I need for my goals.

As for an update, I had 2 sales from last weekend.  The estimate was Friday.  One was deposited in my account on Wednesday and the other Friday.  So far no deposits have exceeded the estimated dates.

I've bought and sold well in to 3 digits of coins with them and never had an issue. Love coinbase!

Pending as in you bought coins from them and they aren't in your account yet?  No.

Can you sell BTC from a pending transaction or do you have to wait 5 days before you can sell?

Coinbase takes it's time, but I've done few transactions thu them and they always deliver. The verification process took forever and they insist on texting me an access code every time I log in, but if they've said money will be available Monday at 2pm it was. Just my 2c.

Just received another 2k via ACH from Coinbase.  Sold on Sunday, had money this morning.

Just wanted to let everyone know that I successfully received the coins from both of my orders. It took about 4 business days, which is typical. I ordered when the price was about $570 and now we are at $820.

No problem. Since I've bought from Coinbase both in times of high volatility and in times of low volatility, I thought this would be a good unbiased test to ensure that they are an honest business and not just ripping people off like some other posters say.

My coins are set to arrive at 10:30pm CST today, so I'll update the thread with the results.


I would never try to withdraw from Gox. Best bet would just be to transfer the btc to another exchange and sell there (if you sell more in the future).

Try buying from coinbase today... they aren't accepting buy orders until Dec 2.

For my part I'm planning to keep a claim against Mt. Gox and hope I can use it to see that Karpeles suffers if he screws me.  Even if it cost me even more to do so.  He can send me the money or he can send me the BTC I sold in Aug right before I requested the wire to clear my account.

To Europe isn't much better, if at all. I cancelled a 2K euro withdrawal in late July after getting nothing but BS excuses and failed promises from support after 6 weeks of waiting.
At no point can they ever tell you where you are in the queue except that it's "not your turn yet".
They can cancel withdrawals within seconds though. But no sir, they have no idea about how far to the front or back of the queue you are when you ask them.

Mt Gox is blacklisted from US banks. If you're trying to wire money to/from Gox using a US-based bank, it's either going to be rejected or take an incredibly long time. There might be like 1 US bank that still deals with Gox. I'm not sure if it's due to shady business practices or if the US gov forced the banks to crack down on them after they got those fines for operating without a license.