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Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

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Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#151

Post by Joeri »

ryanmarsh wrote: post #17
H99189 wrote: post #8

Coinbase should solve it's coinbase trust issue. I bought a small amount of litecoin almost 2 weeks ago, i'm well past my "delivery by" date, my funds left my bank account over 10 days ago, yet I still don't have my coins in my account.

Same. Coinbase are in over their heads. There is so much room for competition here. At times I’ve been unable to access my accounts or have transactions complete in a reasonable amount of time. Coinbase closed my account without notice with no explanation other than a mention of their desire to comply with FinCEN. I never got an answer from them as-to what I did “wrong”. I sure as hell wasnt selling heroin or babies…

Imagine if Wells Fargo closed an account without notice or explanation after a customer had a few normal deposits and withdrawals.

You don't have to imagine.

https://consumerist.com/2017/08/21/feds-investigating-wells-...

Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#152

Post by H99189 »

dahdum wrote: post #130
carc wrote: post #94

Earlier quoted context omitted.

To counter anecdote with anecdote, I've had no issues with coinbase and have found them pleasant to use. That includes transferring to gdax/selling/withdrawing, etc.

I've never had a single problem with Coinbase either. Most complaints seem to be from brand new signups getting delayed, people failing the AML/KYC checks. My USD withdrawals always show up in my bank account 2 days later.

My account is over 3 months old. They took my money and successfully gave me my tiny bit of ETH and BTC, but for some reason my litecoin transaction is stuck in the ether.

Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#153

Post by ForRealsies »

Mizza wrote: post #88
H99189 wrote: post #8

Coinbase should solve it's coinbase trust issue. I bought a small amount of litecoin almost 2 weeks ago, i'm well past my "delivery by" date, my funds left my bank account over 10 days ago, yet I still don't have my coins in my account.

This happened to me as well a few weeks back. Smells a lot like a Ponzi scheme. Looking for a new exchange, but they're all having problems with staying online or verifying new accounts.

The fact that HN is just discovering Coinbase (Normiebase) and not discussing the in's and out's of Etherdelta tells me this bubble still has a far way to go before it bursts.

Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#154

Post by H99189 »

dahdum wrote: post #121
H99189 wrote: post #8

Coinbase should solve it's coinbase trust issue. I bought a small amount of litecoin almost 2 weeks ago, i'm well past my "delivery by" date, my funds left my bank account over 10 days ago, yet I still don't have my coins in my account.

Were you a new user? It takes time to go through bank verification and fraud checks.

No my account was opened over 3 months ago with a verified phone number.

Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#155

Post by j4ship »

H99189 wrote: post #146
Mizza wrote: post #132

Earlier quoted context omitted.

In that particular case, no.

Well now I'm worried. I also bought a tiny amount of ETH and BTC which is still in my account but I'm really worried about getting the funds out, even if it's just a refund of my original USD.

why did you give them so much money that you are "really worried" dont be irresponsible, its a new venture , dont put in your life savings ... just a couple of dollars , try it out if it doesnt work then at least its not something to be "really worried" about

I gave them money , they gave me coin , everything worked ... maybe you made them angry and tried to do something illegal on their site so they shut your user down.

I hear they prioritize "good" users in their system.

There is a section where there is the type of account you add, if you add a bank account you get special treatment

Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#156

Post by cheapsteak »

dahdum wrote: post #130
carc wrote: post #94

Earlier quoted context omitted.

To counter anecdote with anecdote, I've had no issues with coinbase and have found them pleasant to use. That includes transferring to gdax/selling/withdrawing, etc.

I've never had a single problem with Coinbase either. Most complaints seem to be from brand new signups getting delayed, people failing the AML/KYC checks. My USD withdrawals always show up in my bank account 2 days later.

My account is 4 years old, was verified, 2FA setup, and bought/sold without issue 4 years ago.

Recently logged in to find that previously verified ID documents were somehow wiped out and my account became restricted. Reverified ID without issue, but account still restricted. Been 13 days and nada from their support save for an automated response.

Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#157

Post by j4ship »

H99189 wrote: post #154
dahdum wrote: post #121

Earlier quoted context omitted.

Were you a new user? It takes time to go through bank verification and fraud checks.

No my account was opened over 3 months ago with a verified phone number.

my account too , but it works great, thx coinbase

Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#159

Post by krrrh »

meritt wrote: post #96
empath75 wrote: post #37

Until the situation with bitfinex pumping billions of unbacked tether into the ecosystem is resolved, doing anything involving bitcoin right now is insane. They’ve released almost $200 million worth of tether in the last day .

My theory on tether is their goal is to absorb as much downward (selling) pressure as possible on the BTC/USD market and encourage only upward movement of BTC (equally applies to any other crypto) 1) Someone who wants to sell $1M USD of BTC may be happy to take $1M USDT instead for legal/tax purposes. This transaction would have zero impact on the BTC/USD price. 2) Tether receives $1M worth of BTC they can slowly dis…

This is a great analysis, but I’m stuck on this point.

> 1) Someone who wants to sell $1M USD of BTC may be happy to take $1M USDT instead for legal/tax purposes.

Can you clarify that you mean for the purpose of tax evasion as opposed to tax avoidance? IANATL but it seems very unlikely that the IRS or any tax jusrisdiction that I’m aware of, would consider a trade into USDT a like-kind transaction [1]. It would still trigger capital gains.

If lots of people really are operating under a different belief then this is going to get really messy. If there’s a crypto-correction, non-HODLers could be left with tax liabilities they can’t cover.

[1] https://en.m.wikipedia.org/wiki/Like-kind_exchange

Re: Coinbase Wants Wall Street to Resolve Its Bitcoin Trust Issues

#160

Post by dahdum »

H99189 wrote: post #152
dahdum wrote: post #130

Earlier quoted context omitted.

I've never had a single problem with Coinbase either. Most complaints seem to be from brand new signups getting delayed, people failing the AML/KYC checks. My USD withdrawals always show up in my bank account 2 days later.

My account is over 3 months old. They took my money and successfully gave me my tiny bit of ETH and BTC, but for some reason my litecoin transaction is stuck in the ether.

That's annoying then, maybe the run up in LTC triggered a new tier of verification or they really are that far behind. I'm sure you'll get it eventually but if you're looking to flip it now you can't yet.

If you're not buying with the intent to hold, I recommend depositing USD to their exchange GDAX. Fees are lower and you can sell/withdraw immediately.

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