Stay away from Coinbase - page 12. | Bitcointalksearch.org

miken123

newbie

Activity: 35

Merit: 0

Quote from: miken123 on November 27, 2013, 10:40:16 AM

I sold a few last night on Coinbase.
It says it would take 2 business days to deposit the money - so their estimate is on Monday.
I'll let you know if it goes as smoothly as they say it should - so far so good.

Still waiting on the bank deposit.... Coin base says by 11:xx PM it should be there... Sure hope so.

Edit for typo

max.

newbie

Activity: 58

Merit: 0

The more I search about bitcoin exchanges and websites related to bitcoin the more I find that all is a scam.

Could this be the scam of the century?

2double0

legendary

Activity: 2618

Merit: 1105

Quote from: smpo on November 29, 2013, 08:34:46 PM

Any suggestion for a newbie like me?
I have heard that localbitcoins is good. Any comments on that?

I heard localbitcoins is really good too!

2double0

legendary

Activity: 2618

Merit: 1105

What should I use? Mt gox or camp bx?

smpo

newbie

Activity: 9

Merit: 0

Any suggestion for a newbie like me?
I have heard that localbitcoins is good. Any comments on that?

flipcoin

newbie

Activity: 1

Merit: 0

With so many negative comments on Coinbase (despite the various positive news pieces/recommendations from the internet), surely there must be a close and better contender. I'm still convinced to use an online and offline wallet to make my BTCs more secure after a while. And while Armory strikes me as a good offline wallet, MultiBit and Bitcoin-Qt should be useful alternatives. I'm happy to hear your thoughts on this though as I personally would like to have a safe wallet for my bitcoins.

CoinGeneral

full member

Activity: 182

Merit: 100

The General

Quote from: mvidetto on November 26, 2013, 12:59:48 PM

Quote from: champbronc2 on November 26, 2013, 12:54:29 PM

This thread is a joke.

You're all idiots.

Coinbase is not a scam because they have anti-Fraud measure. Coinbase is not a scam because they took away your "theoretical" profit. Coinbase is not a scam because you cannot read their terms of service.

You're all mad that you didn't read before you purchased. Did any of you graduate from high school?

Yeah so why the fuck is my sale still bouncing around 6 days later? It should already be in my bank account! I normally wouldn't care much but it's for 40 btc ~ 33k. Like WTF...

Calm down, if you have thousands of BTC, 40 BTC is basically nothing Grin

ldh37

member

Activity: 116

Merit: 10

Quote from: Brighterbits on November 28, 2013, 09:30:29 PM

So is the only other option for US based buyers to meet locally with a seller?
And after you get your coins, what if you need to sell fast and get your fiat quickly? what do you use for that?

Signed up for coinbase, but they were saying I had to wait til thursday next week and who knows what happens with BTC by then.. there has to be a better US based exchange, no?

Don't know. I used the following exchange comparison list - https://en.bitcoin.it/wiki/Buying_bitcoins.

Brighterbits

newbie

Activity: 10

Merit: 0

So is the only other option for US based buyers to meet locally with a seller?
And after you get your coins, what if you need to sell fast and get your fiat quickly? what do you use for that?

Signed up for coinbase, but they were saying I had to wait til thursday next week and who knows what happens with BTC by then.. there has to be a better US based exchange, no?

ersimo

newbie

Activity: 4

Merit: 0

Thankfully, I have never had an issue with Coinbase thus far (have purchased 6 BTC). But I do constantly hear horror stories, so I consider myself lucky!

bitmarket.io

legendary

Activity: 1204

Merit: 1001

Quote from: Malooka on November 23, 2013, 09:08:25 PM

I'm new to cryptocurrency but already have a bit of advice to others who are new:

Avoid Coinbase like the plague.

I jumped through their hoops last week with scans of a driver's license and utility bill, then verified my bank account Monday morning.

I immediately placed an order for .5 BTC, which cost $288.57 with fees.

Then I was told they had exceeded their buy order for the day, so I wouldn't get anything until Friday - and that I would receive the exchange rate Friday.

So I wait all week. They withdrew my money on Wednesday, so I had no reason to believe the transaction wouldn't go through.

Until Friday morning, when they canceled, saying it was a "high risk transaction" and that I should "try again in a few weeks."

A "high risk transaction" - after they have scans of my utility bill and driver's license, and TOOK THE MONEY from my bank account?

"Try again in a few weeks" - why, so they have another chance to gamble with my money?

They blame the "high risk" label on a "robot" they claim to have no control over.

I don't believe that, and hope you won't either.

Avoid these con artists. I'm already out $100+ on this small transaction because they failed to deliver what they promised.

I never had any problems with coinbase. Actually only have positive things to say about them.

I never had to give them my drivers license or utility bills. I just entered my info, it verified, done. Then wait 30 days to buy 50BTC/day. All's been going great.

The OP may just be a sketchy person that was caught in their filter. May have a tainted record of high number disputes. Who knows. There is a reason for everything though.

Also use your brain. Why would you buy futures during times of such volatility? Why didn't you just wait until they had coins they could guarantee you the price for right then? Think.

beetcoin

sr. member

Activity: 434

Merit: 250

my funds have gone out to coinbase.. still waiting on my BTC to show up. the estimated time was dec 2.

after you make your first purchase, do you become verified and the process doesn't take as long?

ldh37

member

Activity: 116

Merit: 10

I just signed up with Coinbase last Friday and the bank verify deposits completed yesterday. I only created an account to sell some of the btc I've mined. I've read several horror stories but, it seems like every exchange out there has plenty of them. Since I went to the trouble to create the account and get level II verified I think I'll go ahead and try to sell a small amount and see what happens. I will post the results.

odolvlobo

legendary

Activity: 4466

Merit: 3391

Quote from: pipelight1 on November 28, 2013, 11:28:45 AM

For those of you looking for a stock ride. Try DSS (Document Security Systems). They filed suit against Apple. The stock belongs up around 3 bucks. 2Bucks on earnings alone. Soared yesterday after the announcement "of course". But dont let that deter you, look at their chart, read the threads on IHUB and you will see this has a Huge markman coing up in February which will drive it up 2 to 3 times what it is now. Patent plays like this are huge. ANd you can use your bitcoin profits in Cash via Etrade to make another Taxable fortune.

Can you say pump and dump?

pipelight1

newbie

Activity: 14

Merit: 0

Quote from: miken123 on November 27, 2013, 10:40:16 AM

I sold a few last night on Coinbase.
It says it would take 2 business days to deposit the money - so their estimate is on Monday.
I'll let you know if it goes as smoothly as they say it should - so far so good.

I got my "ONE" coin at the price they set and responses to emails right away. Alex, seems to be a great guy and gave me answers. That is all I know. I am affraid to open my Wallet as I don't want money stolen. Will just wait for a while. Maybe when it hit 4K...

For those of you looking for a stock ride. Try DSS (Document Security Systems). They filed suit against Apple. The stock belongs up around 3 bucks. 2Bucks on earnings alone. Soared yesterday after the announcement "of course". But dont let that deter you, look at their chart, read the threads on IHUB and you will see this has a Huge markman coing up in February which will drive it up 2 to 3 times what it is now. Patent plays like this are huge. ANd you can use your bitcoin profits in Cash via Etrade to make another Taxable fortune.

miken123

newbie

Activity: 35

Merit: 0

I sold a few last night on Coinbase.
It says it would take 2 business days to deposit the money - so their estimate is on Monday.
I'll let you know if it goes as smoothly as they say it should - so far so good.

gsupp

sr. member

Activity: 308

Merit: 250

I recently signed up with Coinbase and purchased about $300 worth of BTC on Friday. By the following Monday the ACH had gone through and the money was out of my bank account. I'm still waiting the 5 business days until the purchase clears (Friday). The delay is really annoying and their price per BTC is always a bit high, but there aren't many options in the US.

Gator-hex

hero member

Activity: 490

Merit: 500

Quote from: metaverse22 on November 23, 2013, 10:27:50 PM

This is one of the risks in BTC. This is downside if govt wont support and we have nowhere to go to complain any issues we have on BTC transactions. For now, posting and warning about the scam is the best way to counter those scammers. Thanks for the warning!

Your statement is not true, see..

Quote

“Fraudsters are not beyond the reach of the SEC just because they use Bitcoin or another virtual currency to mislead investors and violate the federal securities laws,”

http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370539730583#.Un-nYiejN3U

Governments have to support what they tax.

miken123

newbie

Activity: 35

Merit: 0

I've had good luck dealing with Coinbase but I do worry if I try to sell when their's a run on BTC or an (even temporary) 'crash' - will they be able to deliver?
Or will they do something ludicrous like 'due to heavy volume we are suspending selling your BTC' sort of thing..
But then again there seems to be no guarantee on this anywhere..

Maybe the best bet is to have many accounts in many exchanges where you can sell small amounts of your btc at a moment's notice?

tyz

legendary

Activity: 3360

Merit: 1533

thanks for sharing this information. i am using coinbase as main wallet but had some little poblems the last time. i'll transfer all my btcs to my offline wallet now.

Topic: Stay away from Coinbase - page 12. (Read 16992 times)