Topic: Re: Coinbase Warning !!! (Revisited, Somewhat Resolved) - page 5. (Read 16434 times)

I don't know if Coinbase is a scam or not but I do know there is too many problems associated with their exchange for me to be interested in using it. After a certain point I stop trying to draw the line between malicious and stupid. Best of luck to Coinbase, but too many people I know personally have had some really lame deals and I've seen people upset for whatever reason.

Maybe Armstrong should consider having a human inspect the transaction AHEAD of any decision-making to send out letters like I got eh?

If his business sense is no better than that, then the hell with it. 
If he can do a stupid and offensive thing like that, what else is he capable of?


He can blow it out his butt with his "wait six days and then reject with a dissy email" strategy.

Trust = Zero.  Contempt = 100.

Totally disagree.

If I order a product or service from any legit operation, they either agree or don't agree.

You do NOT agree and then at the time of delivery, throw your wrists in the air and say "I changed my mind."

"We've changed our minds.  You can fly on that flight.  We've changed our minds, the chef will not prepare this meal.  We've changed our minds, you can put the groceries back now.  We've changed our minds, we will not perform the surgery."

If there's a problem, then maybe, you know, email and say, "We have some questions on your account, could you give us a call?"

You DON'T say "Sorry, we cancelled your transaction.  Good Luck!" to your customers

... and then expect them to call pleading or something?  

Utterly dismal business sense, if that is what it is.  They contracted at one price, when the price rose, they welched on it.  They thus stole just a few bucks from me, but multiply that by thousands of dubious transactions a day and it adds up, I'm sure.

Posters actually defending that sort of behavior continue to cast doubt on the credibility of BTC in general,
and this suggests that it will remain a currency of hucksters and shysters.

You should probably read this blog post by Brian Armstrong

http://blog.coinbase.com/post/44046687068/high-risk-transactions

Exactly.  So you should have gone to coinbase first with your problem and said what the problem was and why it is a problem, before coming here crying "fraud" and "scammer"!

Also, you don't post a crazy, emotional "These people are scammers!" message when you haven't even talked to a human in the support department to see if things can be cleared up.

I'm guessing your account @ Coinbase is relatively new......

Don't care.

I've never had a problem before.  Never seen anything LIKE that before. 
Banks that do this would have a lot of pissed customers.
Neither as a private consumer or a business owner have I seen anything like that.

If you have a problem with a transaction, you say so up front and you say why.

You don't wait a GD week and then point your wrist in the air and say "Oh!  I changed my mind!"

If this is the world of BTC it is doomed.  It's reputation simply cannot tolerate constant association with hooliganish activity.

And google any service provider in the industry along with the terms complaint, gripe, scam'.
They all have long lists.

Coinbase is another.

Every financial institution has these algorithms to determine transaction risk. All of them. It's common knowledge.

If I were supposed to cal them,  I guess that would have been part of the original sign up. 
Or they could have indicated as much.

If it is all done by computer, they need to say that.
And they need to say that decisions made their programs are discussable.

You do NOT send an email that says "Ehn, we renigged on the deal.  Too bad.  Piss off.  Good Luck.

This method of doing business, if it IS a business and not an ongoing scam is half-assed in the extreme.

"Calm your tits?"

BTC will never gain credibility if its operators are scammers, and its supporters are derisive of consumer concerns.

Coinbase is a problem, not a solution.

Oh boy, here we go again.

There is no human behind the decision to not go through with the order. Kindly calm your tits and talk to coinbase support. Your account will be white listed and you should be able to go through with your orders with little to no hassle.

Here is what these operations do:

They take your money.  If the price of BTC goes up, they decline the transaction, return your money, buying BTC at the lower rate, and effectively gamble with your money.  If the value of BTC goes down, they charge the account and let the transaction  go through.

Crap like this will hurt the BTC meme generally.  It needs to be punished. Take your money out of Coinbase!

They are taking money and then using that to buy BTC.  If BTC goes up they say "Sorry, your transaction looks like it was too risky" ... this after jumping through all the hoops, and getting your bank account attached.  Meanwhile  I not pursue other means of getting BTC, so their assholism lost me time.  That bank account, which I use for internet transactions like paypal and so on, is totally sounds and has been in existence since 1999 with  no problems.

Here is the email they sent me when the day the coins were supposed to clear... 6 DAYS after I was charged for them!

*"On Feb 21, 2013 you purchased 4.00 BTC via bank transfer for $120.99.
Unfortunately, we have decided to cancel this order because it appears to be high risk. We do not send out any bitcoins on high risk transactions, and your bank account will not be charged.
Please understand that we do this to keep the community safe and avoid fraudulent transactions. Apologies if you are one of the good users who gets caught up in this preventitive measure - we don't get it right 100% of the time, but we need to be cautious when it comes to preventing fraud.
You may have more luck trying again in a few weeks. Best of luck and thank you for trying Coinbase.
Kind regards,
The Coinbase Team"*

F### YOU COINBASE !!!!

(And:  I'm gonna!)

Please cut and paste this message on any review boards that you know of!