Why it think Coinbase will fail | Bitcointalksearch.org

johnyj

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Beyond Imagination

Quote from: mccorvic on May 08, 2013, 05:30:17 PM

I have my issues with coinbase (like them randomly deciding to declare my purchases high-risk after 4 days of entering said purchase and making me miss out on HUGE profits AND after I've successfully bought through them for thousands of USD for months) but it sounds like you're just a mad bro.

Strange, I've heard about this "too high-risk" claim several times recently, it seems that they are a bucket shop that bet against customers

I am not against bucket shops, I have several accounts at bucket shops, but even bucket shops have their business model, if a bucket shop constantly cancel the order, means they are just too illiquid to be fully operational

Anyway, a bucket shop is not an exchange, but a casino. Investing 5 million in a bucket shop is not some thing worth mention

Herodes

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And now they're sued too:

http://www.reddit.com/r/Bitcoin/comments/1dyr12/coinbase_coinlab_and_others_sued_for_violating/

BTC Books

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Quote from: MAbtc on May 08, 2013, 05:39:50 PM

$5 million is a drop in the bucket. If things go south, it's a very cheap exit, really. I haven't looked into it, but if there is a 1% trading fee, I won't be looking into it.

Coinbase isn't an exchange, and the 1% isn't a trading fee.

It's their BTC>USD ACH to your bank account fee.

elux

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Quote from: wobber on May 08, 2013, 05:20:00 PM

- Investing 5-f*** million dollars in a company dealing with bitcoin? Purely speculative? LOL. I wouldn't do that. Bitcoin's future is not entirely speculative. You'll see.

- 1% trading fee? I won't pay that. Actually, I'm so against exchanges right now, I will sell only on OTC.

- 24 yrs old Goldman Sachs "trader"? I don't trust Goldman Sachs. And no offence, not trusting 24yrs old sausages also.

- Trying to make money on the back of bitcoin posing a simple business as "revolutionary"? Bitcoin is revolutionary, same as 10,000 BTC pizza. The rest is just hard work.

Best of luck to you and Coinbase both, we'll see who comes out ahead. Wink

UltimateReaper

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I hope not, they are still in beta they should only be getting better.

Matthew N. Wright

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Hero VIP ultra official trusted super staff puppet

More or less everything you said applies in one way or another to MtGox and they're still around (for now).

MAbtc

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$5 million is a drop in the bucket. If things go south, it's a very cheap exit, really. I haven't looked into it, but if there is a 1% trading fee, I won't be looking into it.

wobber

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Quote from: notme on May 08, 2013, 05:36:11 PM

Quote from: wobber on May 08, 2013, 05:31:33 PM

I have nor had any coins with Coinbase. Never used them. Just read about them and made an assumption.

We should all start threads by making assumptions about things we don't know about Roll Eyes

I think I know some things about bitcoin and exchanges.

notme

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Quote from: wobber on May 08, 2013, 05:31:33 PM

I have nor had any coins with Coinbase. Never used them. Just read about them and made an assumption.

We should all start threads by making assumptions about things we don't know about Roll Eyes

wobber

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I have nor had any coins with Coinbase. Never used them. Just read about them and made an assumption.

mccorvic

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I have my issues with coinbase (like them randomly deciding to declare my purchases high-risk after 4 days of entering said purchase and making me miss out on HUGE profits AND after I've successfully bought through them for thousands of USD for months) but it sounds like you're just a mad bro.

wobber

legendary

Activity: 1064

Merit: 1001

- Investing 5-f*** million dollars in a company dealing with bitcoin? Purely speculative? LOL. I wouldn't do that. Bitcoin's future is not entirely speculative. You'll see.

- 1% trading fee? I won't pay that. Actually, I'm so against exchanges right now, I will sell only on OTC.

- 24 yrs old Goldman Sachs "trader"? I don't trust Goldman Sachs. And no offence, not trusting 24yrs old sausages also.

- Trying to make money on the back of bitcoin posing a simple business as "revolutionary"? Bitcoin is revolutionary, same as 10,000 BTC pizza. The rest is just hard work.

Topic: Why it think Coinbase will fail (Read 1466 times)