Process your first $1,000,000 of Bitcoin payments for free with Coinbase • Hacker News Board

Re: Process your first $1,000,000 of Bitcoin payments for free with Coinbase

#41

Post by [deleted] » Tue, Aug 27, 2013, 1:08 PM UTC

carrja99 wrote: post #26

downandout wrote: post #22

Coinbase may have venture investment, but their customer service and week-long verification process will make this a nonstarter. If you want to read some of the more entertaining stories about their customer "service" read this thread: https://bitcointalk.org/index.php?topic=147341.80 One of my favorites: Well they refunded the BTC. In order to get a response, all I had to do was post on several BTC related forums an…

"week long verification process"!? I really have to call B.S. on that one. I setup a coinbase account a few weeks ago and was verified within 3 days. I can't comment on their customer service as I have yet to need it.

[deleted]

Re: Process your first $1,000,000 of Bitcoin payments for free with Coinbase

#42

Post by etioyuahgdhjdkg » Tue, Aug 27, 2013, 1:10 PM UTC

hackerboos wrote: post #39

jcampbell1 wrote: post #24

This is negative marketing. Anyone that does $1M+ a year in online sales doesn't want their payment vendor losing money. What I want are honest FAQs and simple integration options. "Free" is irrelevant. If I can get incremental customers and I hope that means $20,000 more bucks. I don't give a shit about $400 vs. $200 vs. $0. Hell, I pay Apple $6000, and I am only kinda mad.

>This is negative marketing. Anyone that does $1M+ a year in online sales doesn't want their payment vendor losing money. Forgive me but won't they make money by selling the Bitcoins they receive?

They don't want to. Coinbase is in the business of payment processing, not speculating on obscure forex spreads.

Re: Process your first $1,000,000 of Bitcoin payments for free with Coinbase

#43

Post by beaner » Tue, Aug 27, 2013, 1:11 PM UTC

jcampbell1 wrote: post #24

This is negative marketing. Anyone that does $1M+ a year in online sales doesn't want their payment vendor losing money. What I want are honest FAQs and simple integration options. "Free" is irrelevant. If I can get incremental customers and I hope that means $20,000 more bucks. I don't give a shit about $400 vs. $200 vs. $0. Hell, I pay Apple $6000, and I am only kinda mad.

This is negative commenting. A new awesome feature came out and you said you don't really care about it unless they also provide X features. But then you gave no argument as to whether or not they already provide X features. This leads the reader to assume they don't, when in reality they actually do. So I'm not sure what your point is?

Re: Process your first $1,000,000 of Bitcoin payments for free with Coinbase

#44

Post by beaner » Tue, Aug 27, 2013, 1:16 PM UTC

superuser2 wrote: post #21

christiangenco wrote: post #13

Earlier quoted context omitted.

The exact same thing is happening to me! Every time I try to enter my information it says: > Your ID could not be verified at this time. Insufficient Data for Questions I've emailed, tweeted, and posted to their support center about it with no response over the last week. They need to get that support staff[1] up and running quick. 1. http://blog.coinbase.com/post/58733449732/we-are-looking-to-...

I think they're trying to question you about database entries regarding your life in Experian-type databases. Past addresses, cars you owned, etc. If you never generated that sort of paper trail, the automated verification fails and they just won't do business with you. I too hope they can set up an alternate method soon.

They actually do do business with you in the form of a 10 btc limit at ach transfer speeds. For most people this is annoying but sufficient. They're just not willing to, you know, give a total stranger on the internet access to $5,000 worth of instantly-transferable goods without knowing their identity.

Re: Process your first $1,000,000 of Bitcoin payments for free with Coinbase

#45

Post by jessaustin » Tue, Aug 27, 2013, 1:24 PM UTC

jaggederest wrote: post #25

I wonder how long until the first merchant to take the money and run? Alice buys something from Bob, Bob sends a tracking number for a rock in a box and chuckles his way to the bank. Or vice versa, of course, Alice buys something, Bob ships it, Alice never pays.

How would the second scenario occur with BTC? The start of the process is Alice paying.

Re: Process your first $1,000,000 of Bitcoin payments for free with Coinbase

#46

Post by randall » Tue, Aug 27, 2013, 1:34 PM UTC

downandout wrote: post #22

Coinbase may have venture investment, but their customer service and week-long verification process will make this a nonstarter. If you want to read some of the more entertaining stories about their customer "service" read this thread: https://bitcointalk.org/index.php?topic=147341.80 One of my favorites: Well they refunded the BTC. In order to get a response, all I had to do was post on several BTC related forums an…

I set up my account yesterday and was verified yesterday.

They have some sort of yodelee integration with online banking that lets you verify within seconds.

Re: Process your first $1,000,000 of Bitcoin payments for free with Coinbase

#47

Post by narcissus » Tue, Aug 27, 2013, 1:42 PM UTC

etioyuahgdhjdkg wrote: post #42

hackerboos wrote: post #39

Earlier quoted context omitted.

>This is negative marketing. Anyone that does $1M+ a year in online sales doesn't want their payment vendor losing money. Forgive me but won't they make money by selling the Bitcoins they receive?

They don't want to. Coinbase is in the business of payment processing, not speculating on obscure forex spreads.

And McDonalds is in the business of real estate, not making burgers.

All I'm saying is that just because they do something day in and day out doesn't make that their business.

To be honest I think doing this to get BTC to sell is a great business model if they trust the price to climb.

Re: Process your first $1,000,000 of Bitcoin payments for free with Coinbase

#48

Post by yebyen » Tue, Aug 27, 2013, 1:42 PM UTC

etioyuahgdhjdkg wrote: post #42

hackerboos wrote: post #39

Earlier quoted context omitted.

>This is negative marketing. Anyone that does $1M+ a year in online sales doesn't want their payment vendor losing money. Forgive me but won't they make money by selling the Bitcoins they receive?

They don't want to. Coinbase is in the business of payment processing, not speculating on obscure forex spreads.

This is a joke. Everyone in the bitcoin community and even in the civilized world believes that the value of bitcoin is going to go up over time.

If they are handling bitcoins then they will be making and losing their daily bread on those obscure forex spreads. The point of using a payment processor is that you don't want to accept bitcoins without a support network and hold them over time by yourself. If that's all you wanted to do, you would use the Satoshi wallet and write some RPC-JSON hooks.

Re: Process your first $1,000,000 of Bitcoin payments for free with Coinbase

#49

Post by lectrick » Tue, Aug 27, 2013, 2:05 PM UTC

downandout wrote: post #22

Coinbase may have venture investment, but their customer service and week-long verification process will make this a nonstarter. If you want to read some of the more entertaining stories about their customer "service" read this thread: https://bitcointalk.org/index.php?topic=147341.80 One of my favorites: Well they refunded the BTC. In order to get a response, all I had to do was post on several BTC related forums an…

They're a startup. I guarantee you there's probably no more than 10 guys there. I've worked at startups and here's the deal- Support is very uneven and capital- (and time-) intensive, when you're new. You haven't worked out all the workflows yet and you're too busy building out product to know when to change gears to handle a support backlog. Eventually it gets sorted out, but the beginnings are always rocky. Don't judge a brand new service based on its support record please... I promise you that not a single person who ever worked at a startup thought "man, fuck those complaining customers... we need to build our vision!"

Re: Process your first $1,000,000 of Bitcoin payments for free with Coinbase

#50

Post by ronaldx » Tue, Aug 27, 2013, 2:21 PM UTC

jcampbell1 wrote: post #24

This is negative marketing. Anyone that does $1M+ a year in online sales doesn't want their payment vendor losing money. What I want are honest FAQs and simple integration options. "Free" is irrelevant. If I can get incremental customers and I hope that means $20,000 more bucks. I don't give a shit about $400 vs. $200 vs. $0. Hell, I pay Apple $6000, and I am only kinda mad.

Agreed: I found this offer a bit strange. It alerted my Ponzi-senses.

I'm open-minded, but how can they afford to offer this for free? Will this offer be attractive paying customers, and why do they want to attract non-paying customers?