361–370 of 515 posts
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Some kid who made $ off affiliate marketing. Wow big deal. Looks like an utter douchebag too: http://instagram.com/mgrunin
What's your problem? I'd be pissed too. He probably worked his ass off to make all that money. Looks like he works hard, plays hard...
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Its not ridiculous at all. With that much spread and at prices as high and fluctuating as much as they currently are you cannot expect to take 10 DAYS for a transaction of this nature. Honestly, looking at this from the outside what is the difference between this an actual larceny? A large purchase comes in while the commodity is priced high, the commodity is not purchased but instead funds are held on to while the p…
I am not invested in bitcoin, so this may be a naive question, but is there any explicit promise that your funds will be available within n-time? There appears to be a gap in expectations. These entities do not seem to be brokerages, although many people expect them to be so.
If an exchange gives users an SLA stating "orders will be fulfilled within X business hours" then that's a contract between two parties. If the exchange says "yeah, we'll get around to it someday and you agree to deal with that" which is the usual intent language in the small print then you don't have much to go on if there is a delay, other than trying to raise a public outcry in the hopes they will back down.
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No, it's nothing like shipping a book 2 days late. The OP has actual, recognizable economic losses as a result of Coinbase's delay. The transfer of money via ACH is a separate transaction from the Bitcoin acquisition. After the admitted delay following the Bitcoin acquisition transaction, Coinbase should have either reaffirmed that the OP wanted to purchase the coins at the original price, canceled the transaction, o…
It is pretty much like that if you buy a book to gamble with its resale value.
The value of BTC lies predominantly in the market value.
So the book analogy is ridiculous and patronizing.
Since it has taken this long, I guess you would rather have the lock price removed. It's around ~551.57 vs your original 868.91
Yes, and that is only because they didn't deliver the coins on the day they locked in the price even though they said they would deliver then.
From what I can gather coinbase makes their money by throwing away or backing out transactions they would take a loss on. You sir, gave them $35k for digital beanie babies. You get what you pay for. And you did.
Why aren't you buying btc at an exchange? Were you planning on moving them?
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I mean, MtGox stands for "Magic The Gathering Online Exchange". They were literally set up to sell trading cards. The whole "being the biggest bank in a new $6bn+ economy" is a pivot. The whole system is crazy. But even by those standards, taking 35 grand and not noticing you didn't give them what they paid for stands out.
But even by those standards, taking 35 grand and not noticing you didn't give them what they paid for stands out. That's really the weird part. This is a business that does money in, money out. They should be balancing the books and checking inventory every day. It can take Amazon a while to realize a mistake because it takes time for somebody to go around the warehouse and count all the boxes to discover they're hol…
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Off-topic, but since you guys have ignored: 3 emails from me, and a tweet... I sent you an XSS vulnerability to whitehat@coinbase.com according to https://coinbase.com/whitehat almost 3 weeks ago and haven't received so much as a confirmation "thanks we are looking into it" email from you guys.
This scares me.
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If the price had gone up would you be ok with them refunding the dollars instead of honoring the original price of the "clearly botched transaction"?
No, I would expect the resolution most favorable to the customer in either situation. If Coinbase had a public policy about what will happen in situations like this, I would expect them to follow their policy. Since they do not, it is reasonable to assume that any time they resolve a situation like this in their own favor they were using the customer's order as a free options contract.
Brian from Coinbase here. Sorry for the delay on that - definitely not the customer experience we are striving for. We should have things squared away for you by end of day. Edit: your bitcoin credit has now been processed. It looks like as we were performing server upgrades last week a handful of jobs didn't run as normal. We should have certainly caught it and responded sooner so that was our fault. My deepest apol…
Sloppiness like this wouldn't fly in actual finance. It would get you fined and possibly more. Lacking any sort of internal controls, even something as simple as balancing your books and verifying all transactions... It's shocking and negligent. Even more so for a YC company. Shame on you.
Brian from Coinbase here. Sorry for the delay on that - definitely not the customer experience we are striving for. We should have things squared away for you by end of day. Edit: your bitcoin credit has now been processed. It looks like as we were performing server upgrades last week a handful of jobs didn't run as normal. We should have certainly caught it and responded sooner so that was our fault. My deepest apol…
Not only that, but I was told that my coins could not be released earlier because "they needed to be removed from cold storage". So now we have 2 different excuses for failures in the same time period. The cold storage excuse seemed completely bogus to me too because we're talking about crediting a number to my account, not getting actual Bitcoins. They don't become Bitcoins till I send them out of Coinbase.