Topic: Coinbase sucks - page 2. (Read 2969 times)

Here's a link where people talk about why they use Bitcoin:  bitcointalk.org



I can't spend cash for Reddit Gold.  I can't spend cash at Fiverr.  I can spend Bitcoin at lots of places online without having to sign up, register, make an account, give them a credit card number, etc., but I can't send cash instantly to people online.

Bitcoin gives me an extra 1% rebate for all gift cards at Gyft, whereas they don't accept cash at all.

I can't spend cash at Cryptsy, Bittrex, C-Cex, Poloniex, Miningrigrentals, Alcurex, Allcoin, Cryptopia, Bter, or Btc-e.  But I spend Bitcoin at all those places.

I started participating in Folding@Home in 2007, and last year I started earning Curecoins for what I was already doing.  Curecoins led me to altcoin exchanges, and I wanted some bitcoins to use for buying altcoins, so I could trade them for more bitcoins, and then hold my increased amount of bitcoins as a long-term investment.

So I looked around online to find out how to get some bitcoins, and getting some bitcoins seemed almost impossible.  Most people would not have bothered doing what I did in order to buy bitcoins.  They would just say "Never mind, I can't figure out how to get anyone to take my money and give me bitcoins."

But I signed up with Coinbase and it's about as good as you could ask.  I buy bitcoins instantly, the money comes out of my bank account, and that's it.  It's actually faster than buying locally, since I don't have to wait for confirmations to receive the coins.  I can send them as soon as I buy them.  And of course I don't have to go meet someone locally, so that cuts another hour off the time it takes to buy.

I can't create a backup of my cash.

I can't protect my cash with a password.

I can't transfer my cash to merchants that I want to do business with over the internet.

My cash will suffer the effects of supply inflation from the Fed overprinting it.

Carrying or storing large quantities of cash take up more space.

Cash is generally dirty and has an increased potential for carrying bacteria or a virus.

Do I need more reasons?

Seriously, why are you using Bitcoin then? Just use cash. At least with cash Coinbase can't be tracking where you're spending your btc.

Coinbase is convenient. But they are centralized. They monitor transactions and are known to freeze accounts on the slightest suspicions.

They banned me from using their service because I also have a localbitcoins account.

If you want to stay anonymous, use localbitcoins and buy from a cash deposit seller. You might have to pay 3-5% to buy in instead of 1% but that is just the price of staying anonymous and getting your coins instantly.

Coinbase is more of a friendly website, for a person coming into bitcoin i think coinbase is one the best options out there for people to make a legit move from fiat to bitcoin.

Coinbase is the best way to buy Bitcoin that I have found.  It may not be perfect, but it's still the best way in the world that is available to me.

Meet somebody from Craigslist with a pocketful of cash?  No thanks.

Mail somebody from Brawker a gift card or something?  I tried that, at 10% higher than market value, it took just as long as Coinbase, and now Brawker is out of business. 

Yes, I thought Coinbase asked me to jump through a lot of hoops.  But where else is better?  I didn't want to send Cryptsy a mugshot video of myself holding my driver's license next to my face.  Where can I buy Bitcoin instantly with my checking account?

Fact:  Nobody wants to sell you Bitcoin when they don't know you, and when you can reverse the charges and keep the BTC.

Basically you're criticizing Coinbase for being the best in the world, because you think they should be even better.  Well, nobody else has come up with anything better than Coinbase, so criticize the other 7 billion people in the world before you criticize Coinbase. 

I know the size of the fee is a bit much but usually when you purchase something the money should really be there as most companies will take the money the same day immaterial of how long delivery takes.  These fees suck there is no justification to a $34 charge for anything digital currency related

Are they making their own rules or are they taking orders from the government? Why do they block some users, when they use online gaming sites?
I prefer not to use these regulated exchanges, because I want the freedom to use any service I choose too and I do not want people scrutinizing my transaction history and exploiting my privacy.

Just do not use them! They are not the only one. With all that horror stories about them I don't know how people are still using and supporting them.

funny because everyone was adovocating for more regualtion to help increase the bitcoin adoption, but all we get is a bunch of too hevaily restricted rules that will make everything worse

we really need that bitcoin float around decentralized thing, decentralized exchange, market, forum ecc...it does not make sense to have a decentralized system that leaning on centralized systems

coinbase also is the worst place for anonimity , they will declare everything to IRS, there is 0 anonimity if your coin ever pass through them

Coinbase doesn't suck in my opinion. I pretty much like to use Coinbase.

I agree with you

I prefer and use blockchain, I just have some mbtc in coinbase in case I need them,but I avoid it

They are the only insured exchange i dont know if that is why you might get a higher fee? dam i just suggested them to a newbie friend for getting into bitcoin, hope they dont get hit with high fees else it puts people off bitcoin to start with.

It's regulated centralized exchanges like these, that will kill the adoption in the future. I do understand the reason for this, and the possible threat to the USA if it's not done, but it goes against everything I stand for when it comes to crypto currencies.

These companies are taking on the role of the traditional banks. {Charging high fees and reporting to the governments} You get away from the one evil, only to run into the next evil.

People started to use Bitcoin to keep some sort of annonimity and also for cheaper fees... What are they doing to keep with this incentive for people to do this?

Are they only here to make money and to destroy these goals? Or are they forced to do this to keep their doors open? 

You can always use Circle, they are fast and seamless with bank transaction and no fees.

Dood, you essentially bounced a check. How can you be mad at COINBASE? That's just retarded.

If you had made a credit card purchase Monday with a maxed out credit card that you KNEW had $0 available credit, would you be mad at the credit card company for charging you an over-the-limit fee? After all, the thing you ordered on Amazon wouldn't arrive until FRIDAY!

Circle and Coinbase are the same goddamn thing...people need to stop acting like one is better than the other. Same policies, same cost. (No, Circle is not "free")

I hate centralized exchanges too...but they are a necessary on-ramp to get regular people into BTC. They have all kinds of dumb regulation to comply with or THEY ALL GO TO JAIL.

So sick of reading angry adolescent, "I know it all", teenage-angst bullshit on this forum. Honestly, just shut the fuck up.

Let me see if I got this right, I walk into a gold dealer and buy two canadian maple leaf gold coins worth, the day I bought them, about $2,400. The gold dealer knows nothing about me but simply runs my debit card for the amount of the sale. I walk out of the store two minutes later with the gold.

I go to Coinbase to buy $1,000 worth of bitcoin, they run my debit card, it clears for the dollars. Then I need to wait a week for them to give me my "virtual gold" because they are running some sort of background check on me? WTF?

coinbase rules for bitcoin is getting more and more ridiculous.

first there is all that verifications which negates the anonymity of bitcoin, then they will ban users that use bitcoin for gambling!! and not to mention the fees they charge. and now this is their new shenanigan for their users.

i don't know why anyone wants to use them except for just buying and transferring bitcoin out of there.

This would actually never happen with Circle, because they cancel orders immediately if your bank account doesn't have enough balance.

Source: I tried buying BTC before I went to make a bank deposit and Circle did not allow it.