Topic: Rick Rolled by Coinbase, so I went to look at their local beautiful SF office... (Read 10062 times)

Coinbase exchange got off to a rocky start, and now there's news about how they "embellished" their credentials and licensing, with state government essentially saying it is unlicensed.

This is directly contradicting coinbase claim that they are fully licensed in california and other places. Coinbase has some explaining to do, because at this point it seems they bold face lied to their customers.

BWAHAHAHAHAHA

Fool and their money are easily parted. Top grade A evidence right here LOL

Let's see you put money where your mouth is - but you don't have the balls for that

BWAHAHAHAHAHA

Fool and their money are easily parted. Top grade A evidence right here LOL

Let's see you put money where your mouth is - but you don't have the balls for that

Can this get any better?  

I can't make this up LOL

Let's see you put money where your mouth is - but you don't have the balls for that

Hilarious.  I guess all the banks and jewelry stores in the world should go into hiding.  We better throw in the liquor stores and even 7-11s too, I heard they get robbed as well.

Let's see you put money where your mouth is - but you don't have the balls for that

This is Charlie Lee at Coinbase. I can confirm that we are indeed in the SF financial district. The HQ pictures are not staged. lol

The reason why we don't publicize our actual address is for the exact reason mentioned in this thread. Like someone said, banks and jewelry shops have been robbed for a lot less money. We have implemented security measures (cold storage, key splitting, ninja guards, etc.) to prevent rogue employees and armed gunmen from stealing the bitcoin we have stored for our users, but people don't know that. After hearing stories of how BitStamp lost 19,000 BTC, a crazy guy might just think it's worth the risk to come rob our office. And if they manage to get through our security to get to our office and find out that we aren't able to access the bitcoin, they are not going to be very happy. You can all imagine that this is NOT a situation we want to ever see ourselves in.

We'd rather be safe than sorry!

And to answer some of your questions.
A) We never claimed to be licensed in CA. The press did. I guess they just assumed we were. They also incorrectly claimed that we supported 25 states, when in fact we only supported 23 states + Puerto Rico at launch. We just started supporting Nebraska today.
B) The coinbase.com/lunar site was just a fun way to tease people on the internet and to create some buzz.
C) We've had USD wallets on Coinbase for 1.5 months now. You could have easily gotten money on our system and bought coins before we released the exchange. And if you had money in your USD wallet at launch, you would have been able to use our exchange immediately.
D) Our VC money is not meant to be used to speculate on Bitcoin price nor is it sane for us to support the Bitcoin price. We do not control the price. The market does.
E) It's not a fake address. We receive mail at that address.

It's this actual lost earnings or potential/unrealised  lost earnings?  I think that will be deciding factor in  whether a court would find coinbase even partly response

If they lied then yes they're Rick rolling, if they  issued a vague statement that was misinterpreted by a third party news site then they're probably not rick rolling and the news would be responsible for printing untrue info

Wow, OP, you are such a moron. Good luck with your lawsuit!


A silly teaser page pressured the market to buy? What?

You made a stupid investment decision based on market hype, and it backfired. Now you are just looking for an excuse to sue someone to try to get your money back. If I were to bet, you did not buy btc because Coinbase had the CA license. You just found out that they didn't after you lost your money.

Here are the facts:
1. Coinbase never claimed that they were licensed in CA. They claimed to be licensed and regulated and that they have 15 state licenses (https://www.coinbase.com/legal/licenses)
2. The press jumped to the conclusion that because they supported 24 states, they must have licenses in all states. They didn't bother to even fact check. See link above.
3. Coinbase put up a teaser website to their launch and in the source code they linked the "features" page to a rickroll video to screw around with people who are trying to be clever.
4. Price shot up to $300 after the WSJ saying that Coinbase will launch an exchange.
5. On Monday at 9am EST, they launched the exchange, and the price tumbled to $260. This is a classic buy the rumor and sell the news pattern.
6. On Tuesday, CA released a statement that Coinbase didn't actually have a license. They were correcting the media misinformation. They did not shut Coinbase exchange down as BTC exchange currently does not need a CA license.
7. The price tumbled before the CA news was released. So price had nothing to do with that piece of news.
8. You didn't even trade on the Coinbase exchange. This is based on your claim that Coinbase did not give you enough time to deposit money and your screen shot of losing money in a margin trade, which Coinbase does not have.

So you lost BTC speculating on a news wrongly reported by WSJ and others. And now you want to sue Coinbase, even though you didn't even trade on that exchange. Really? You will have more luck suing WSJ. And it's not like you lost money trading Coinbase stock. You lost money speculating on BTC, which Coinbase has no control over the price.

Here's an analogy:
1) A company announcing that they are opening a license and regulated gold/USD exchange
2) WSJ reported incorrectly that they have a license to do that in CA
3) You bought a ton of gold futures after hearing this rumor
4) You lost a lot of money after gold price crashed for reason unrelated to CA license
5) You now want to sue that company

Good luck!