Why people don't like coinbase? - page 4.

ged00u

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Quote from: BitcoinExpart on October 09, 2016, 03:12:34 AM

As you see,I'm just a newcomer on bitcoin as well as user of coinbase but my question why people don't like coinbase too much. Have any reasons?
Mostly as long as I know main problem on closing accounts associated with gambling.Have any other reason?

I do not know why people do not like coinbase. It has many advantages function including non-fee transactions. Newbie bitcoin users will find it easy to use and understand. The design is great too

smho_16

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Quote from: Herbert2020 on October 10, 2016, 12:44:38 AM

Quote from: 0day on October 09, 2016, 05:59:44 PM

according to my views the reason is that they are more strict in their rules and because of these rules they often freeze the accounts of their members which are not favorable by any user of bitcoin.

it is not just because of the rules they have, it is because of the way this service is like. when using coinbase you are technically using a service that you can even call a bank, and as a bitcoin user and lover i call it against the nature of bitcoin.

I totally agree with you. In fact they are a bitcoin bank which is truly against the bitcoin philosophy. Basically you don't own your bitcoins as you don't own the private keys of your addresses there. Not worth using when there are much better web wallets with the same security.

Note that desktop wallet are much better and you really are in charge of everything regarding your bitcoins there.

Herbert2020

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Quote from: 0day on October 09, 2016, 05:59:44 PM

according to my views the reason is that they are more strict in their rules and because of these rules they often freeze the accounts of their members which are not favorable by any user of bitcoin.

it is not just because of the rules they have, it is because of the way this service is like. when using coinbase you are technically using a service that you can even call a bank, and as a bitcoin user and lover i call it against the nature of bitcoin.

European Central Bank

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Quote from: 0day on October 09, 2016, 05:59:44 PM

according to my views the reason is that they are more strict in their rules and because of these rules they often freeze the accounts of their members which are not favorable by any user of bitcoin.

they don't have any choice. if they want to stay in business then they have to follow the rules that are laid down for them. I doubt anyone wants to turn customers away but that's the price of staying afloat. if customers don't like then they need to get elected to office and change something. nothing coinbase can do about it.

0day

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Hire me for your campaign management.

according to my views the reason is that they are more strict in their rules and because of these rules they often freeze the accounts of their members which are not favorable by any user of bitcoin.

Hazir

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Quote from: Cereberus on October 09, 2016, 06:46:43 AM

It's so easy to find the answer why people hate coinbase but let me write down a few arguments for you to know as well.

1. It's an online web wallet which means you are relying on third party to hold your bitcoins and the need to use their website to send and receive bitcoins
2. You don't own the private keys of your wallet and if you don't own the private keys you don't own any bitcoins.
3. They can close your account if they just have doubts about you being involved in a gambling site and there is nothing you can do about this.
4. A web online wallet can always be hacked and usernames and passwords can be stolen from their database if the hacker(s) are really good ones.

These are enough reasons for me to hate any such kind of wallet so other people are right too to hate coinbase.

1&2. It is only valid when online wallet is not letting you copy your private keys. There are online services which give you full access to that. Coinbase isn't one of them.
3. Only true when comes to Coinbase and Xapo maybe some other lesser known online wallet. I never heard that someone got suspended on Blockchain.info for gambling
4. I don't know how good is Coinbase's Security and methods. But in blockchain.info case even operator doesn't have access to your passwords as they are encrypted.

a7mos

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Not everyone hates coinbase. who hates it does because it is a centralized website that does not give you any control over your bitcoin at all. also they are known for suspending any suspicious accounts. while others like it because it is easy to buy and sell btc from them if they support your country and it pays the txs fees

erikalui

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I use coinbase but the issue you mentioned is not the reason I dislike the wallet. I find they only have trading and withdrawal options for US users and not for other countries. Their PayPal withdrawal as well as bank withdrawal is limited only to US consumers. They need to make these options international so that more users could use their wallet services. Besides this, I am quite happy having an account as it's fast and easy to send/receive money and the transactions too get confirmed within 5 mins.

European Central Bank

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they have to abide by some very strict rules to keep their bank and regulators happy so that means no gambling, no dark markets, nothing else questionable. that goes against what many people feel bitcoin should be for. if they don't like it then they have plenty of options.

another big reason which doesn't seem to have been mentioned here yet, is coinbase's trash talk about bitcoin's future. they have a problem with the lack of scaling and how it's being addressed and they also embraced ethereum which is a whole lot more slapdash than bitcoin is.

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Need some spare btc for a new PC

As much as I remember from the earlier talk, security isn't the best. But I, as someone who doesn't store that much of value onto wallet, didn't find that problem to be the big one, tho I'm still on blockcain.info

BitcoinExpart

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Quote from: dollarneed on October 09, 2016, 09:12:00 AM

I used coinbase when i was newbie, since it's free yeah they"re paying the transactions fee for you, when i saw many cases out there about locked account, being froze and others then i stopped using it i think it's better if you control the private key so no one can't freeze your money whatever you do. This is the one reason why i don't like the coinbase and other reasons some people have mentioned them above.

Thank you for sharing your point of view why not you like to use coinbase. Must be benefit from this opinion.

dollarneed

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I used coinbase when i was newbie, since it's free yeah they"re paying the transactions fee for you, when i saw many cases out there about locked account, being froze and others then i stopped using it i think it's better if you control the private key so no one can't freeze your money whatever you do. This is the one reason why i don't like the coinbase and other reasons some people have mentioned them above.

BitcoinExpart

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Quote from: equator on October 09, 2016, 07:28:10 AM

Quote from: Cereberus on October 09, 2016, 06:46:43 AM

It's so easy to find the answer why people hate coinbase but let me write down a few arguments for you to know as well.

1. It's an online web wallet which means you are relying on third party to hold your bitcoins and the need to use their website to send and receive bitcoins
2. You don't own the private keys of your wallet and if you don't own the private keys you don't own any bitcoins.
3. They can close your account if they just have doubts about you being involved in a gambling site and there is nothing you can do about this.
4. A web online wallet can always be hacked and usernames and passwords can be stolen from their database if the hacker(s) are really good ones.

These are enough reasons for me to hate any such kind of wallet so other people are right too to hate coinbase.

I agree with your 3 points which are really true and correct, but 4th point about hacking if the coinbase site gets hacked then their will be lot of trouble but if a user account gets hacked then its users fault as i am using coinbase for more then 2 yrs and i am utilizing both 2FA security like mobile sms and email verification if i am using from another computer or IP address which is very good which can save my account from hackers as they can hack my email id also but they cannot get inside my mobile number so i like their security system.

Yes,me too. In coinbase there have a good security that's why I use this system but now I'm really truble for this reason..what happened if my account blocked or banned by coinbase security?

equator

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Quote from: Cereberus on October 09, 2016, 06:46:43 AM

It's so easy to find the answer why people hate coinbase but let me write down a few arguments for you to know as well.

1. It's an online web wallet which means you are relying on third party to hold your bitcoins and the need to use their website to send and receive bitcoins
2. You don't own the private keys of your wallet and if you don't own the private keys you don't own any bitcoins.
3. They can close your account if they just have doubts about you being involved in a gambling site and there is nothing you can do about this.
4. A web online wallet can always be hacked and usernames and passwords can be stolen from their database if the hacker(s) are really good ones.

These are enough reasons for me to hate any such kind of wallet so other people are right too to hate coinbase.

I agree with your 3 points which are really true and correct, but 4th point about hacking if the coinbase site gets hacked then their will be lot of trouble but if a user account gets hacked then its users fault as i am using coinbase for more then 2 yrs and i am utilizing both 2FA security like mobile sms and email verification if i am using from another computer or IP address which is very good which can save my account from hackers as they can hack my email id also but they cannot get inside my mobile number so i like their security system.

Cereberus

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It's so easy to find the answer why people hate coinbase but let me write down a few arguments for you to know as well.

1. It's an online web wallet which means you are relying on third party to hold your bitcoins and the need to use their website to send and receive bitcoins
2. You don't own the private keys of your wallet and if you don't own the private keys you don't own any bitcoins.
3. They can close your account if they just have doubts about you being involved in a gambling site and there is nothing you can do about this.
4. A web online wallet can always be hacked and usernames and passwords can be stolen from their database if the hacker(s) are really good ones.

These are enough reasons for me to hate any such kind of wallet so other people are right too to hate coinbase.

J Gambler

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Quote from: Galer on October 09, 2016, 04:45:33 AM

Quote from: J Gambler on October 09, 2016, 04:36:26 AM

Quote from: BitcoinExpart on October 09, 2016, 03:12:34 AM

As you see,I'm just a newcomer on bitcoin as well as user of coinbase but my question why people don't like coinbase too much. Have any reasons?
Mostly as long as I know main problem on closing accounts associated with gambling.Have any other reason?

It just because in coinbase every time to receive payment from unkown transaction it always generate new wallet address and people might hate that because of newly address appeared once transaction are done and yes the one reason is if coinbase detected that your bitcoin are came from gambling it may cause of your account to be closed.

Yeah I agree coinbase is generating new address every successful transaction so for the beginners the confusing or didn't know what is there real address.

Im just using coinbase too when i was a new in bitcoin but i don't like the most in coinbase is like what i've mentioned earlier so i choose bitcoin wallet that really based on my country

you know that galer because were both from 1 country Tongue

its much more better if we use bitcoin wallet that really based on our country right.

Galer

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Quote from: J Gambler on October 09, 2016, 04:36:26 AM

Quote from: BitcoinExpart on October 09, 2016, 03:12:34 AM

As you see,I'm just a newcomer on bitcoin as well as user of coinbase but my question why people don't like coinbase too much. Have any reasons?
Mostly as long as I know main problem on closing accounts associated with gambling.Have any other reason?

It just because in coinbase every time to receive payment from unkown transaction it always generate new wallet address and people might hate that because of newly address appeared once transaction are done and yes the one reason is if coinbase detected that your bitcoin are came from gambling it may cause of your account to be closed.

Yeah I agree coinbase is generating new address every successful transaction so for the beginners the confusing or didn't know what is there real address.

J Gambler

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Quote from: BitcoinExpart on October 09, 2016, 03:12:34 AM

As you see,I'm just a newcomer on bitcoin as well as user of coinbase but my question why people don't like coinbase too much. Have any reasons?
Mostly as long as I know main problem on closing accounts associated with gambling.Have any other reason?

It just because in coinbase every time to receive payment from unkown transaction it always generate new wallet address and people might hate that because of newly address appeared once transaction are done and yes the one reason is if coinbase detected that your bitcoin are came from gambling it may cause of your account to be closed.

NewBet

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Quote from: BitcoinExpart on October 09, 2016, 03:28:56 AM

Quote from: lenoli on October 09, 2016, 03:19:01 AM

Quote from: BitcoinExpart on October 09, 2016, 03:12:34 AM

As you see,I'm just a newcomer on bitcoin as well as user of coinbase but my question why people don't like coinbase too much. Have any reasons?
Mostly as long as I know main problem on closing accounts associated with gambling.Have any other reason?

ya, thats one of the main reason but there is another one: all online wallets arenot very safe . we dont recommend you to put a big amount of money on online wallets. all online wallets are unsafe

Well.Thank for your quick reply.At present I've not associated with other wallet right now.So which wallet do you offer for me to holding some bitcoin or other purpose obviously for safety.

Why don't you set up Electrum in your dekstop? They can provide the safety to your bitcoin.
If you still want to use online wallet service, make sure you read all the rule and term of service before you using their service , especially coinbase. You will not like it when your account get blocked for violating their rules.

lenoli

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Quote from: BitcoinExpart on October 09, 2016, 03:28:56 AM

Quote from: lenoli on October 09, 2016, 03:19:01 AM

Quote from: BitcoinExpart on October 09, 2016, 03:12:34 AM

As you see,I'm just a newcomer on bitcoin as well as user of coinbase but my question why people don't like coinbase too much. Have any reasons?
Mostly as long as I know main problem on closing accounts associated with gambling.Have any other reason?

ya, thats one of the main reason but there is another one: all online wallets arenot very safe . we dont recommend you to put a big amount of money on online wallets. all online wallets are unsafe

Well.Thank for your quick reply.At present I've not associated with other wallet right now.So which wallet do you offer for me to holding some bitcoin or other purpose obviously for safety.

bitcoin core is best one to hold some bitcoins, but be carefull and dont forget to remember wallet key. before you decide to make something you must read and understand many things. or you may loose your money

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