Sent $35,104.11 USD to CoinBase. Never received Bitcoins

Post by glcbitcoin » Thu, Dec 19, 2013, 2:10 AM UTC

midas007 wrote: post #294

slg wrote: post #217

Earlier quoted context omitted.

>that's really shocking for a company that is trying to play a role as a financial institution. That is probably the scariest part about the current Bitcoin community. Many of the big names are simply "playing a role". We have no idea of their technical expertise, the viability of their software, their USD/Bitcoin reserves, how they plan to address disputes like this, or even whether they are skimming of the top.

0. This is exactly why auditing (internal and external) and settlement processes exist elsewhere. But it's impossible to have a startup deploy every single control at the very beginning. There are costs (time & money) to get things done, those control don't just magically appear. Eventually, with scale, the growing pains of business process debt (like technical debt) will come due. That's a good thing, because buildi…

Post by forgottenpass » Thu, Dec 19, 2013, 2:22 AM UTC

seldo wrote: post #185

barmstrong wrote: post #53

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…

Forget the difference in the exchange rates. Are you saying you have no system in place to monitor if transactions execute successfully ? I'm not trying to be hyperbolic but that's really shocking for a company that is trying to play a role as a financial institution.

Post by jessedhillon » Thu, Dec 19, 2013, 2:29 AM UTC

sheetjs wrote: post #406

jessedhillon wrote: post #326

Earlier quoted context omitted.

Apparently, referring to a thread which is highly critical of Coinbase, while participating in another critical thread, is proof enough for you that Coinbase criticism is silenced. I hope when I frame it like this, you understand how stupid it is, what you wrote.

What's apparent is the fact that you are incapable of analysis. If you bothered to read the other thread, you'll see parallels to the current situation: - transaction delays on the order of 1 week - Coinbase is blaming technology (last time it was a database migration, this time server upgrades) - Customer support has been silent (znowi described it as "information vacuum" https://news.ycombinator.com/item?id=5427985…

Post by ziyanjoe » Thu, Dec 19, 2013, 2:35 AM UTC

Post by gaadd33 » Thu, Dec 19, 2013, 2:42 AM UTC

PeterisP wrote: post #409

Sami_Lehtinen wrote: post #397

Earlier quoted context omitted.

You clearly haven't been dealing with businesses. 99% doesn't do daily checks. Many notice thins after a month or so, when closing books for month. And some notice those kind of things aften closing a year. But there still are many businesses which won't ever notice or care missing 100 grand. Been there and done that, and it's much more common than you think. In some of those cases I personally think that the busines…

If this is really is business as usual, then it might be acceptable for a widget selling company but completely unacceptable for financial services. In financial services the same actions that you describe are gross negligence that (depending on jurisdiction) can mean personal liability, possibly including criminal charges, for the relevant CxOs, and a lifetime ban from running any other financial companies in future…