Sent $35,104.11 USD to CoinBase. Never received Bitcoins • Hacker News Board

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

#481

Post by mgrunin » Thu, Dec 19, 2013, 10:17 AM UTC

seiji wrote: post #210

xauronx wrote: post #116

Earlier quoted context omitted.

This guy? http://instagram.com/p/h_z7OEkWEs/ I mean, I don't know who he is but I generally wouldn't fuck with someone who has $35k to drop on pretend money. Anyhow, main stream news can be foolish, regardless of who the subject is.

His linkedin page sends us to this awesome article too: http://sfctoday.com/news/1025-sfc-senior-already-a-financial... Edit: Oh gawd, at the end he actually says "you only live once." Edit2: "Money drives me completely ... I've gotten so used just being able to go anywhere without looking at any price tags ..." Let's go ahead and [dead] this thread. Forget it ever happened. (or make a movie out of it)

I admit, that is a very poor article and I mainly blame the editor. He spoke with me for two hours with a running tape recorder and after the interview this was the best story he could come up with apparently. Obviously when you take a few lines here and there from a two hour conversation you can make anyone sound like a douchebag. Maybe that was his motive? I'll never know.

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

#482

Post by midas007 » Thu, Dec 19, 2013, 10:21 AM UTC

alttab wrote: post #309

midas007 wrote: post #294

Earlier quoted context omitted.

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…

Giving coins for USD is their primary use case. Monitoring transactions should be the only control they have in place if they must cut corners. As a coinbase customer and someone who manages a team and large complex distributed systems, this is an oversight I would not expect from an industry leader and makes me nervous to continue doing transactions with coinbase. How can we be made comfortable that this won't happe…

Coinbase is ultimately a double-ended marketplace. But to add more complexity to the fire, one's own systems count as yet another source of truth. So what the sellers say, what buyers say and what we say have to reconciled. It's these reconciliation processes that are the hard part...

I've had to deal with micropayment reconciliation for a minor handset mfgr (multiple currencies, payment processors, timezones, products, on and on). Sometimes the credit card processor up and changes the API without notice, and a whole slew of payments have to rerun. This is where fields in the local reconcilation db start to creep in and all sort of weird flags get made. What the heck is flag F? (IOTW, document the heck out of the db schema AND have lots^10 unit tests.)

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

#483

Post by mgrunin » Thu, Dec 19, 2013, 10:21 AM UTC

tdfx wrote: post #362

dutchbrit wrote: post #348

Earlier quoted context omitted.

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...

Having money is not a license to act like an entitled, materialistic douchebag. I don't know the guy, but between this post and his instagram, that's the impression I've got of him. Hopefully some outside perspective will be useful to him.

I don't quite understand were I led anyone here to believe that I am an "entitled, materialistic douchebag". I had an issue on hand with a company, I felt I was being ignored. I was informed that the company is active on this website. I took the initiative to bring my problem to the public.

Regarding my instagram, isn't such a social networking website in existence just to fool around with? Practically all my followers are my college friends and those sort of posts interest them. I just turned 22 for god sakes, you expect for me keep every bit of my life as professional and humble as possible? I am sure many here have done much worse when they were my age.

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

#484

Post by mgrunin » Thu, Dec 19, 2013, 10:22 AM UTC

oijaf888 wrote: post #119

nawitus wrote: post #114

Earlier quoted context omitted.

Well, maybe you could post a two-sentence summary and save us all the trouble?

He seems to be some affiliate marketer who also peddles get rich quick via trading options products.

If you actually spent a minute watching any of my trading videos you would see that I never pitch a single product or service in them. What I offered in my videos was complete transparency on my trading.

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

#485

Post by mgrunin » Thu, Dec 19, 2013, 10:24 AM UTC

cnlwsu wrote: post #330

seobeaver wrote: post #97

Earlier quoted context omitted.

Clearly you don't know who mGrunin is. I'd do a little research before making comments like the one above.

Some guy who creates users to respond to criticism? Oh and looks like an idiot.

I never created a shell user on here. I posted this thread on a local community forum that I am active on. Some of the members came here for the first time and supported me.

I am sorry that my appearance comes off as an "idiot".

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

#486

Post by srdev » Thu, Dec 19, 2013, 10:29 AM UTC

remon wrote: post #475

srdev wrote: post #446

Earlier quoted context omitted.

Worked at a bank. They have better processes than this. Not gonna say they're perfect, but they can handle balancing their books and not dropping transactions. They certainly don't use a non-ACID PoS like Mongo. Excel was over-used in many places, but was not used for day to day transactions and operations. Yet again, bitcoin apologists inaccurately claim (lie) that banks are actually worse to excuse failings by "the…

Worked at a bank as what? Working at a bank clearly doesn't make someone an expert on their IT infrastructure. The actual financial transaction infrastructure isn't ACID.

As a software developer on corporate credit card applications, dealing with managing transactions, accounts, and restrictions. Our infrastructure was ACID. We certainly wouldn't have used experimental, flaky datastores like Mongo, and shit was not processed using Excel.

No-one is an expert on every part of a bank's infrastructure -- its too big for that. But definitely, we had software requirements, as a matter of IT policy, that kept stuff like MongoDB out of production.

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

#487

Post by lotsofcows » Thu, Dec 19, 2013, 10:38 AM UTC

remon wrote: post #474

AJ007 wrote: post #447

Earlier quoted context omitted.

Any sort of financial account should be ACID safe. You can't just receive money on one end, and then it magically doesn't enter a client's account. Bitcoin is great, but the exchanges still suck.

Very few financial systems are ACID. Why do people still think banks run on bloody MySQL?

I love a non-sequitur as much as the next giraffe, but what does banks using MySQL have to do with banks choosing not to go ACID?

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

#488

Post by [deleted] » Thu, Dec 19, 2013, 12:03 PM UTC

srdev wrote: post #486

remon wrote: post #475

Earlier quoted context omitted.

Worked at a bank as what? Working at a bank clearly doesn't make someone an expert on their IT infrastructure. The actual financial transaction infrastructure isn't ACID.

As a software developer on corporate credit card applications, dealing with managing transactions, accounts, and restrictions. Our infrastructure was ACID. We certainly wouldn't have used experimental, flaky datastores like Mongo, and shit was not processed using Excel. No-one is an expert on every part of a bank's infrastructure -- its too big for that. But definitely, we had software requirements, as a matter of IT…

[deleted]

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

#489

Post by remon » Thu, Dec 19, 2013, 12:16 PM UTC

srdev wrote: post #486

remon wrote: post #475

Earlier quoted context omitted.

Worked at a bank as what? Working at a bank clearly doesn't make someone an expert on their IT infrastructure. The actual financial transaction infrastructure isn't ACID.

As a software developer on corporate credit card applications, dealing with managing transactions, accounts, and restrictions. Our infrastructure was ACID. We certainly wouldn't have used experimental, flaky datastores like Mongo, and shit was not processed using Excel. No-one is an expert on every part of a bank's infrastructure -- its too big for that. But definitely, we had software requirements, as a matter of IT…

Yeah, so, you don't work on financial infrastructure. That stuff is almost exclusively eventually consistent. And I wasn't arguing that you should use MongoDB or anything else instead. Merely that claims that ACID is the holy grail of financial software is a myth propagated by people that do not know how international financial traffic works.

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

#490

Post by remon » Thu, Dec 19, 2013, 12:18 PM UTC

lotsofcows wrote: post #487

remon wrote: post #474

Earlier quoted context omitted.

Very few financial systems are ACID. Why do people still think banks run on bloody MySQL?

I love a non-sequitur as much as the next giraffe, but what does banks using MySQL have to do with banks choosing not to go ACID?

Nothing at all other than the ever surfacing assumption by a lot of people that financial traffic is done on ACID like principles (rather than eventual consistency which it actually is). MySQL was a random example as should have been somewhat obvious.