Topic: Stay away from Coinbase (Read 1532 times)

Goldman Sachs has now invested in circle...

Coinbase IS Goldman Sachs - The Vampire Squid on humanities face. Google it.

https://i.imgur.com/PFKjEMu.jpg

I hate coinbase. The other day I tried to purchase when the price was down into the $240's and the order wouldnt fill for 10 days. Lame. Thats why I use my old trusty way of instantly buying BTC with Paypal...with instant delivery. And if you dont know how to do it, too bad. I dont want that option to go away...so I wouldnt be divulging the details. But anyone whos been around long enough knows how to do this.

When they say "Our system is designed with safety and security as the highest priorities" and use that as a justification for cancelling your order, it really means that the exact opposite of their speculation has happened, and there is only so many orders they can fill before they lose money...and your order is past the cut-off point.

Do you know why I keep a Coinbase account? Its to mess with them. To get them to invest BTC that I deposit and then instantly pull it out. I'll deposit 2 or 3 BTC, let it sit for a little over 24 hours during a business week, and then just move it back into my Blockchain wallet. I just want to upset their balance sheet. Myself and a handful of other people do this regularly. I suggest everyone do this

oh god, I can't access my account there, so I leave it!
I forgot my password and all of my btc there gone!
I have send my ID card/address proof, and no message till now..

Nope.

I signed up with Circle and Kraken. Plus I can buy/sell here on bitcointalk.

Fuck Coinbase and their Goldman Sachs/CIA/NSA/Big Brother scamming bullshit.

Look at the date and price I bought (Feb 23) at and look at the price on a BTC chart 4 days later (Feb 27 - BTC in the 250's) when my purchase was supposed to clear and they cancelled it:

https://i.imgur.com/pYaKMTj.png

Many, many examples of this on the net if you look around on reddit, etc.

Coinbase is scamming people under the guise of "security".

Why didn't they take me up on my offer of supplying any and all identification document (above and beyond what they require) they need to prove I was legit? Why don't they notify customers BEFORE they automatically cancel a purchase to resolve an issue? Why did they wait until the last day of the ACH waiting period - AFTER THEY WITHDREW MONEY FROM MY BANK- to send me a canned email telling me they cancelled my purchase?

What if your purchase or sell was in the thousands of dollars and they tied up that money for 2 weeks for no reason before you got it refunded and it showed back up in your bank?

I have had several stock trading accounts over the years - with much more at stake - and never had any problem like this.

Fuck Coinbase.

They are scammers.

'Zactly.

Here was Coinbase's last email to me after a week and a half of them tying up my money (as I tried to resolve it by offering any and all ID documentation they needed) which could have been used elsewhere:

https://i.imgur.com/MrGfQlj.png

Needless to say I told them to fuck off and I deleted my account.

In my opinion Btce is much dangerous than coinbase. Coinbase needs to overcome this issue by making transactions significantly faster. Moreover, sooner or later this issue will cause a big dent on their reputation.

Issues aside Coinbase is still the safest place to use USD. Would you rather take your chances on places like BTC-e with your coins and cash?

Yep, this is a known issue of coinbase and many have reported it.  I've tried to warn as many as I can.  I'd suggest that people just stick with this forum when trading currencies; honestly I trust some people on this forum more then I trust coinbase.

Look they also have a store now : https://store.coinbase.com/
I wonder what made them launch a store

Wow OP so angered

I heard it several times but have not encountered yet after 100+ transactions.
Perhaps it depends on the client attribution.

Better than going away 

I‘m very early aware of this, but few people are willing to leave coinbase,
It seems there were no other exchange except coinbase, huh..  what is bitstamp or lakebtc etc??

thank god i am from india and for this reason i cant trade with coinbase

Yup, all over reddit coinbase threads, too. Just posted mine there too.

Everyone needs to know.

There are quite a few testimonials like yours in this forum.

STAY AWAY FROM COINBASE! NOTHING BUT TROUBLE!

All you have to do is google "coinbase purchase cancelled"  and you will see. Sooner or later, more often than not, Coinbase will cancel your purchase when you buy low and bitcoin price rises significantly during the 3-4 day ACH transfer clearing period and then THEY WILL AUTOMATICALLY CANCEL YOUR PURCHASE TRANSACTION AND NOTIFY YOU VIA CANNED EMAIL ON THE DAY IT WAS SUPPOSED TO CLEAR THAT YOUR MONEY IS BEING REFUNDED! Don't believe me? Google it. It happened to me and it's happened to thousands of others - often two or 3 times or more. I tried for almost 2 weeks (and that was fast according to other's accounts) back and forth with Coinbase email to resovle this - half of coinbase's emails which are just automated, and the rest give no detailed explanation - to no avail. All my info was legit - I offered my SS number, a recent bank statement, whatever they needed. Nope. My purchase was a decent amount - they will tie your money up for at least 2+ weeks and then give some vague canned "security" excuse AND THEY WILL NOT FIX IT no matter how legit - especially if you bought at a good low price!

Coinbase is also Big Brother. THEY WILL SPY/SNOOP on ALL YOUR TRANSACTIONS - PURCHASE AND SELL. They are most likely studying the blockchain to trace all your transactions. Don't think about using any of your Coinbase funds to play any bitcoin gambling sites or anything else Coinbase/Big Brother doesn't want you to do - THEY WILL BLOCK AND/OR CANCEL YOUR TRANSACTIONS AND/OR SHUT YOUR ACCOUNT ALTOGETHER. Who knows what else they spy on when you use them. Don't believe me? Google "Coinbase Big Brother" and you will see.

Heed my warning - STAY AWAY! This is NOT de-centralization. They are corralling you.

ALSO - the Coinbase founder is ex -GOLDMAN SACHS! Yes, the same Goldman Sachs that Matt Taibbi calls the Vampire Squid of humanity. Google it.

If you're in the US or elsewhere - use Circle to buy/sell or another another bitcoin exchange if your trading.

If anyone (ie: coinbase personnel who scour blogs and forums to try and quash THE TRUTH about Coinbase) doubts me - fvck you! I got plenty of screenshots and emails I can post.

And on THAT NOTE: I signed up with Circle and and it's a beautiful thing!