Is coinbase going to be the next "goxed"?

khash4u

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Quote from: bitcoin revo on November 09, 2015, 09:16:41 PM

Quote from: ANdr0id on November 09, 2015, 01:55:39 PM

Quote from: Nrcewker on November 09, 2015, 03:08:09 AM

in definitely, it's really not a good experience to trade or buy bitcoin in coinbase.

Reasons being? They are effortless because it's directly linked to your bank so no hassle getting your coins.
Offered good promo if you buy $100 of coins too.

I've heard that the real hassle is connected to getting your coins out of Coinbase. Wink

I've been seeing a lot of cases where Coinbase, one way or another, strips users of their funds.

That I don't believe do you have any proof?
Of course they have different incentives for traders to get liquidity but I don't see their trading platform as being dodgy being they have huge investments to the sum of $106M nobody can say they're not a serious player to watch. I know they are still working on getting more countries accepted for their exchange like Australia, but I suppose it's their funny laws and approach to crypto currency that is the hindrance

bitcoin revo

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Quote from: ANdr0id on November 09, 2015, 01:55:39 PM

Quote from: Nrcewker on November 09, 2015, 03:08:09 AM

in definitely, it's really not a good experience to trade or buy bitcoin in coinbase.

Reasons being? They are effortless because it's directly linked to your bank so no hassle getting your coins.
Offered good promo if you buy $100 of coins too.

I've heard that the real hassle is connected to getting your coins out of Coinbase. Wink

I've been seeing a lot of cases where Coinbase, one way or another, strips users of their funds.

Possum577

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Quote from: Arcteryx on November 09, 2015, 02:08:32 PM

Quote from: medUSA on November 09, 2015, 05:16:11 AM

Quote from: ProfessionalGoogler on November 08, 2015, 09:02:10 PM

Everyday I hear more and more bad things about coinbase

I believe Coinbase is doing quite well. They have filed patents on bitcoin products and expanded their markets to Asia. They are a big company now and will be audited. Difficult for Coinbase to pull a "Gox" nowadays.

They don't force you to buy or sell with them. If you just want to transfer bitcoin to them there is no issue and they don't ask anything from you.

Exactly. It's fair for them to have some rules the protect their business or minimize risk. This is exchange isn't for you to take advantage of. Every complaint I've heard about Coinbase is one that involved someone trying to game the system a bit OR the restriction Coinbase imposed was reasonable and didn't significantly limit the users access to bitcoin or the market.

Why is Coinbase the target of such criticism? DO you think Xapo has less restrictive policies? If so, perhaps you should take your business there - vote with your wallet, literally!

Arcteryx

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Quote from: medUSA on November 09, 2015, 05:16:11 AM

Quote from: ProfessionalGoogler on November 08, 2015, 09:02:10 PM

Everyday I hear more and more bad things about coinbase

I believe Coinbase is doing quite well. They have filed patents on bitcoin products and expanded their markets to Asia. They are a big company now and will be audited. Difficult for Coinbase to pull a "Gox" nowadays.

They don't force you to buy or sell with them. If you just want to transfer bitcoin to them there is no issue and they don't ask anything from you.

ANdr0id

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Quote from: Nrcewker on November 09, 2015, 03:08:09 AM

in definitely, it's really not a good experience to trade or buy bitcoin in coinbase.

Reasons being? They are effortless because it's directly linked to your bank so no hassle getting your coins.
Offered good promo if you buy $100 of coins too.

makcik

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"Goxed" - the meaning of this word is to be fooled repeatedly, continuously again and again. This has become normal for the people using coinbase. The problem is of delayed transactions. Many times this has happened that when you are sending bitcoins, it says "sent" but neither bitcoins are deducted from wallet nor sent to the address you are trying to send. Sometimes bitcoins get deducted but are not sent to the address you sent. They are in "verification". People face problems because of this and its frustrating too. Myself I have faced it once. This becomes a trouble especially when buying physical goods. Coinbase is still praised as a good wallet and it's Completely tax free too. But, these things really make you feel "goxed"

vancefox

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I don't see Coinbase as going "gox" next... there's another well known entity that is falling down this path, in many people's eyes, very quick.

cozytrade

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We need more detail things.

The topic title is misleading. Being goxed is different thing. Roll Eyes

gianbtc

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can u provide sources of these everyday bad news about coinabase ? i personally didn't seen one.

medUSA

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Quote from: ProfessionalGoogler on November 08, 2015, 09:02:10 PM

Everyday I hear more and more bad things about coinbase

I believe Coinbase is doing quite well. They have filed patents on bitcoin products and expanded their markets to Asia. They are a big company now and will be audited. Difficult for Coinbase to pull a "Gox" nowadays.

teddy5145

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If you don't trust coinbase anymore you can always move your fund to offline wallet Roll Eyes

It's easier than it seems Grin

Try to use electrum wallet it has good security and mnemonic pass phrase just in case you lost your wallet.dat

Or move to another online wallet, there's still many out there Wink

I personally never use coinbase before and not gonna risk it Tongue

Tstar

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OP reading your thread I expected to find some links and info about what you say regarding Coinbase: there should be some evidence for what you say and I see nothing.

Nrcewker

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in definitely, it's really not a good experience to trade or buy bitcoin in coinbase.

mezzomix

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Quote from: n2004al on November 09, 2015, 01:36:16 AM

I have some bitcoins there and I consider coinbase as a very good online wallet. But seeing your post make me worried.

There is no good online wallet. With bitcoin you decide about your money or you have to accept a total loss.

If you want others to decide about your money use banks, credit cards, paypal, ...

Kakmakr

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There is a huge difference between the time Mt Gox was around and the current situation. Mt. Gox has sparked over regulation at the exchanges around the world, to prevent that from happening again, on such a large scale. Coinbase are one of those exchanges where they go overkill on following the AML and KYC regulation. I am not saying it will not happen, but these exchanges will face huge penalties, if it does. They also take out insurance now, to help cover losses, if a incidence occur.

It is much better now, than back then with Mt. Gox Roll Eyes

Slark

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Coinbase is big bitcoin company and they want to be bigger and monopolize the market, hence the decisions. They can't fork anything. Even Gavin and Hearn can't do that alone.
As we said when shitstorm about XT hit us. If Coinbase realizes that they decisions are not popular among community they gonna either change some of their stupid moves or another company will take over.

odolvlobo

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Quote from: ProfessionalGoogler on November 08, 2015, 09:02:10 PM

Everyday I hear more and more bad things about coinbase such as them shutting you down for random stuff like using localbitcoins or even something as simple as buying BTC on another exchange to sell on coinbase..
And recently it has been they want to fork BTC...
For now, I personally will be avoiding them.. (just withdrew/moved the little BTC I had) they sound a lot like gox everyday.. Huh

Your reasoning doesn't make sense. The situation with Coinbase bears no resemblance to Mt. Gox. Unlike the obvious signs of impending failure at Mt. Gox, I don't see any indication that Coinbase is going to collapse any time soon.

I was banned from Coinbase, probably for trading too much, but it doesn't affect me much, though it is annoying.

As for them wanting to "fork Bitcoin", you might have a better understanding of the situation if you ignore the hysteria on reddit.

Strongkored

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I think there is no problem for Coinbase to speak out to support BP101. It is good to talk about it and inspire some more discussion about the issue to reach consensus later.

n2004al

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Quote from: ProfessionalGoogler on November 08, 2015, 09:02:10 PM

Everyday I hear more and more bad things about coinbase such as them shutting you down for random stuff like using localbitcoins or even something as simple as buying BTC on another exchange to sell on coinbase..

And recently it has been they want to fork BTC...

For now, I personally will be avoiding them.. (just withdrew/moved the little BTC I had) they sound a lot like gox everyday.. Huh

I am a coinbase user and haven't heard any such bad news about those. I have some bitcoins there and I consider coinbase as a very good online wallet. But seeing your post make me worried. Can you be more specific about those? For example can you tell the source of your bad news or even some (or even one) sources which talk about their problems? It will be a very help for me seeing this things written somewhere... Thanks if will help.

Possum577

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The fork conversation is not new and it's not shady. It's a legitimate issue facing the future of bitcoin. The real debate is whether it should happen now (forced) or only when it's really needed (organically). At some point the size issues will be real.

I think Coinbase has more to lose than to gain if they were do something "gox like". The operate in the US...laws are different there.

Topic: Is coinbase going to be the next "goxed"? (Read 1525 times)