Topic: Unofficial Coinbase user2user support/discussion thread (Read 5514 times)

So, I've got a problem and I'm seeking thoughts and ideas from those who are using Coinbase.  The long story is here:

  https://bitcointalksearch.org/topic/hu-wells-fargo-acct-coinbase-issue-sscams-577378

The short story is that the volumes and use patterns I've been doing are causing problems with at least Wells Fargo, and probably I'll have the same issue with other typical banks.  Wells Fargo is as I understand it among the most 'bitcoin friendly' of the typical mainstream banks in fact.

I don't think my 'cat-n-mouse' idea of using all the local banks will work.  The problems I predict would be a possible total freeze of all of my assets which have mainstream counter-party risk.  This would be a giant hassle.

Even if I did not experience mainstream financial freezing, it seems likely that Coinbase themselves would ban me.  In my communications with them I felt that their assurance that I was welcome to be a customer was somewhat lukewarm.

In short, I think my best bet to continue to use Coinbase would be to find a more specialized bank which is both used to dealing with significant-ish amounts of money and also works well with Coinbase.  If anyone knows of such an entity, and especially if they have some experience with one, I would be grateful to know of it.

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As an aside, I have long harbored some suspicion of the usability of our mainstream financial and regulatory systems for 'the 99%' (compared to the likes of Jon Corzine where it works exceptionally well.)  This was one of the factors that got me interested in Bitcoin in the first place in fact.

I chose to employ a strategy of complete compliance in my financial activities.  This was easy because I understand the needs to monitor for criminal activity, have no philosophical problem with taxes, etc.

This strategy did not work and I am experiencing annoying and blocking issues in spite of my strategy of working within the system.  Obviously it has further weakened my confidence in the mainstream systems and strengthened my contention that alternative solutions such as Bitcoin are necessary and appropriate for non-criminal parties.

For the P.O. Box, try just entering the P.O. Box # without using the words "P.O. Box" anywhere ...  that credit card billing address verification can be pretty finicky especially with people who live on numbered streets or streets with north/south/east/west

Replying to my own post above about Level-2 verification in case anyone is interested.  Note that this applies to ME and THIS TIME.  Of course I cannot vouch for what will happen to others at other points in time.  I happen to have a pretty spotless record and have no need to try to be deceptive.

I entered the basic name and the last 4 of my SSN on the first page.

The second page had a series of questions which I won't relate here (to preserve the utility of Coinbase's methods), but I will say would have been pretty difficult for people to answer had they not researched my life extensively.  The most tricky one for me was choosing a list of names which included one of my ex-girlfriends.  I decided that that was probably accidental and did not select it.  Guessed right.

There was no third page.  That was it.  That part of the verification is checked off and green!  Now I just have to wait 30 days for my bullshit .001 BTC purchase to season.

If things chip along in steady state, I actually would be fine just taking out $3k per day with the schedule thingy these guys provide except that if the price of BTC jumps it could put my scheduled sale over the limit.  I do want the flexibility to move fast, however, (Bitcoin being fairly volatile ya know) and that is the main reason I even bother to go to Level-2.

Quick question for anyone who has gone to level-2 verification.  I'd been happy with the level-1 verification until now that they've bumped the sell limit from $50k to $3k  I have no interest or desire to link my credit card or do anything 'instantly'.  This is a negative, but only just now did I see that it might not be required for level-2.

I just bought .001 BTC to start the 30-day clock.  This is the first BTC I've purchased since 2011.  Since I am trying to be very detailed in my records for tax reasons, it's a hassle to be forced into buying any more.

Coinbase does the old trick of starting one out on a page with a 'next' button with no roadmap of what one will find behind the curtain.  I hate it when websites do this.

The first page of the 'verify your identity' starts out with a screen asking for an address.  I'm wondering what kinds of things the next screens will ask.  Does anyone who has been through the process know?

Also, my official address on my bank is a P.O. box.  My drivers licence contains this P.O. box in addition to my physical address.  My bank account and credit card accounts have only my P.O. box.  Most of my utility bills are on-line, but the phone one is mailed to me (again, through my P.O. box.)  The simple reason for this is that my mailbox is isolated.  It gets vandalized regularly and mail is sometimes stolen.  I, like many others in the area, are pretty religious about using the community post office for this reason.

Anyway, has anyone had troubles associated with having any reference to a P.O. box on anything sent to Coinbase?

Nothing but glowing reviews on my end.  My one and ONLY hiccup I experienced was a single btc transfer request that took around 3 hours (though customer support was quick to reply and assure me it was just a random, unexpected delay from high volume of requests).  The rest of my transfers and purchases have been virtually instant.

Still have another week to go before my 30 day trial is over, which is very exciting as I've been dying to find a reliable method to buy and sell btc without headache.  My first non-instant purchase for over 1btc should be approved by tomorrow, so I'll keep this thread updated with how that goes.

Loving it so far though!

I've just set up an auto-sell schedule for shits-n-giggles.  Hopefully it will lessen my compulsion to check the charts every few of my waking hours (and maybe sleeping ones to, for that matter, since when I wake up in the middle of the night I often have a peek.)

If nothing else it should l help Coinbase front-run me, though I did make the sale value small enough so that it should not be worth the bother.

Hello all -- I'm working on setting up Coinbase merchant tools, specifically a payment page, and I have also been messing around with the Coinbase API. I'm currently using the API to update exchange rates on my site.

Right now I'm working on my Instant Payment Notification (IPN) page, written in PHP. I have some questions and perhaps some suggestions, but I'm net getting a response from Coinbase support.

Any others here working with the Coinbase merchant tools and API? I would like to get in touch with other users for mutual support.

I'm not sure that almost anyone from any company has an 'official' presence on this forum, and that probably makes some business sense.  A guy named 'olaf' seem up-front about being an employee or associate of Coinbase, and furthermore he seems helpful and polite.  Hopefully he is still around.

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In other news, while I'm here, I've done perhaps $70k worth of sales through Coinbase since the OP and I don't recall a deposit every being delayed beyond the estimate.  Many have come in much sooner.  Some of the deposits have been in excess of $10k which is supposed to trigger some activity on the part of the bank, at least, I believe.  I saw no difference in these from my side.

I have one outstanding ticket asking for a proactive white-listing so that my sales plans don't go awry.  I got a note back that they at least acknowledge my ticket and are trying to get to it.  Since I've not had any problems yet in being flagged, I cannot complain to much.

I do hope that Coinbase continues to perform to the level they have in my case.  It sure makes my life easier.  I've been waiting since last summer for my $5k wire from Mt. Gox and it has not arrived yet.

Does Coinbase have an official presence on this forum?

Thanks

Just an update, bank deposits from coin sales are working quickly again.

Just wanted to post an update.  I added a credit card successfully a couple days ago.

...or could be if there were a significant price difference.  Actually though, even a very small difference could provide an opportunity if the legendary 'lack of friction' that Bitcoin is noted for could be employed.

Whatever the case, if I as participant in the Bitcoin ecosystem living under U.S. jurisdiction can achieve fair BTC pricing and convenience, I'm as happy as a clam.  So far, so good with Coinbase.  For me.

BTW, here is the article I mentioned:

  http://www.wired.com/wiredenterprise/2013/10/btc-china/

A recent wired article pointed out that Lee of Coinbase and Lee of BTCChina are brothers however, and being siblings seems like on of the few reasons to trust someone in Bitcoinland.  Or at least work with them relatively more closely.
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An interesting find. If they are actually brothers, the odds that they work with each other are pretty high. At least they can be arbitrage partners

Every time I've looked since I've been a customer (last week) it seems like they've been between Mt. Gox and Bitstamp.  I like this because I feel that Bitstamp is probably depressed as a function of the amount that Mt. Gox is inflated.  BTCChina seems to display the same middle ground.  I kind of wonder if perhaps BTCChina is not being used by Coinbase for settlements.  But there is no real reason to suspect it.  A recent wired article pointed out that Lee of Coinbase and Lee of BTCChina are brothers however, and being siblings seems like on of the few reasons to trust someone in Bitcoinland.  Or at least work with them relatively more closely.

When did Coinbase change their exchange rate?  They were using Bitstamp's rate, but I just noticed today that they are now $3-$4 higher than Bitstamp.  I tried to compare their price to the current bid, ask, 24-hr avg, etc of multiple exchanges, but nothing matches.

This reminds me that I should have done an update.

They got back to me within a few days.  They agreed that the mail they sent about the status of my level-1 achievement was premature and apologized.

I personally am satisfied with the interactions I've had with them, but I've had pretty good luck.  Like everyone, I want immediate results if I can get them.  I'm inclined to cut them some slack at this point.  Start-ups tend to have limited resources to fill many demands in my experience with them (both within and without.)  I do hope that they are making good use of the feedback that they can get to factor into decisions about where they focus their efforts.

I have sent them 3 emails total since I've been with them. The response time has always been between 1 and 2 weeks. Very slow, but at least it exists.

I have the same card verification error. Let me know if you figure out a workaround or if it gets fixed 

Anyone else having problems verifying a credit card?  I keep getting the error message "Error: Card verification failed - CVN".

Update on 'ticket' turn-around:

I'd queried about my 2-factor issue when signing up last Friday night.  Thur morning I received a custom response.  Although they cannot or will not disable 2-factor auth on an individual basis, the support person made suggestions which would have been valuable had I not anticipated them.

I consider the turn-around on this issue to be satisfactory, and I also understand and accept the failure to be able to act upon my wishes.  The issue is a nuisance which I can work around.  The problems would be corner-case things which I can deal with as long as the 2-factor system works in an anticipated manner.  An unanticipated re-set could in some circumstances cause me a headache.

I hope and expect that a real ticketing system will be employed in the future.  It would be doing both Coinbase and their customers a favor in my opinion.