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Update on Bitcoin Cash

blog.coinbase.com

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Re: Update on Bitcoin Cash

#121

Post by rib3ye »

gragas wrote: post #84

Honestly, I don't understand why everyone trashes Coinbase. I work very closely with numerous crypto exchanges for a living (I write code which interfaces with them). Outside of work, I've personally chosen to open a Coinbase account and trade on GDAX. Coinbase is, in my opinion, the most reputable exchange out there by far.

I generally agree here, but 1. their buy/sell ACH fees are insane, 2. They're always the first to go down in those high panic button situations that have been happening every other week since may. FWIW, Kraken may require a wire, but my money always gets in the exchange for $5, and site is more reliable... the fees are 80% cheaper.

Re: Update on Bitcoin Cash

#122

Post by mrb »

nebabyte wrote: post #117
mrb wrote: post #113

Earlier quoted context omitted.

Gemini. I have been a customer of Coinbase for 4 years and Gemini for 6 months. Gemini's withdrawal to bank accounts are faster (same day). Support is more responsive. That said, both companies are licensed, 100% legit/trustworthy, and I like both honestly, but sightly prefer Gemini overall. Each company is a decent alternative to the other IMHO.

In what regard do you consider coinbase a "good alternative" to anything, let alone gemini? The issues people have consistently reported with it for as long as I've known about it - bad lock-ins during fluctuations, difficulty resolving support requests and withdrawing - are all borderline showstoppers from where I sit; I don't think I'd ever use let alone recommend coinbase to anyone, no offense to its employees in…

I stated merely my personal experience. I recognize others have different experiences... usually because of Coinbase's fraud detection false positives. Use Coinbase for a while, building a history of buying or selling, and it will help.

Re: Update on Bitcoin Cash

#123

Post by ilaksh »

localcdn wrote: post #2

And all it took was the threat of a lawsuit.

But four months is obviously a stall tactic when all of those other places made it available immediately.

Maybe a month for rush (but tested) development. Four months means they have other plans for the money and therefore I believe either they will revise that number or there will be a very large lawsuit. Something like criminal conversion or something.

They have around 7 million customers. If the average amount of bitcoin comes out to 0.5 bitcoin (could be more, could be less, who knows?) then that is 0.5 * 375 (current BCH price) * 7 million = around 1.3 billion USD. Maybe it averages out to quite a bit more. But they are saying they need to hold on to a billion dollars worth of assets until next year for 'safe keeping' or because its technically too hard? LOL.

Re: Update on Bitcoin Cash

#125

Post by runeks »

gst wrote: post #104
sowbug wrote: post #81

Earlier quoted context omitted.

Before you declare an exception to Hanlon's Razor, hear my story. Long ago, Coinbase filled a buy order I placed. Then they filled it again. They credited the BTC twice but debited the USD only once. Like a good citizen of the Earth I filed a ticket letting them know their error. I got the same treatment you did. I even emailed Brian personally and via a private list I know he's on. Years later I still have that BTC.…

Here's another story: Long ago I tried to withdraw my BTC, but after clicking the withdrawal button the browser tab was stuck waiting for the HTTP response. So after a while I opened a second tab and tried to withdraw again. Both withdrawals went through and I ended up with a negative BTC balance on Coinbase. I sent one of the transactions back so that my balance ends up at zero again.

Oh dear... this sounds like another Mt. Gox waiting to happen. In what world will this not be exploited sooner or later?

Re: Update on Bitcoin Cash

#126

Post by runeks »

colept wrote: post #16

Is there a viable alternative to Coinbase? Their support is absurdly awful. Two months and they sent two auto-replies to a simple ticket that couldn't be answered by the knowledge base. They don't care about your money - so long as it's already in their vault.

I’m not sure how Bitstamp works for people in the US, but as a European I’ve had good experience with it in the past. I used both Bitfinex and Bitstamp before Bitfinex got hacked, and have been using Bitstamp exclusively for the last couple of years without any issues. I use SEPA for EUR withdrawals, which arrive in my bank account the same day.

The only technical issue I’ve heard about with Bitstamp is the following, which I hope got fixed, but I never have orders in the book so it’s not relevant to me: https://www.reddit.com/r/Bitcoin/comments/1r4d6t/bitstamps_s... (synopsis: Bitstamp’s streaming order API revealing information about matched orders before they are matched).

To be fair, though, I’m pretty sure the limit order book was reinvented, from the ground up, for all Bitcoin exchanges established prior to 2012. It takes some time to get this right if you’re starting from scratch (the issue was reported in 2013).

Re: Update on Bitcoin Cash

#127

Post by thinkmassive »

sowbug wrote: post #76
thinkmassive wrote: post #41

They reversed stance so quickly, it seems plausible this was a calculated move to increase news coverage of Coinbase.

There was a slightly different amount of information available in the time you call "so quickly." Any "calculated move" that involves repeated pleas to one's own customers to withdraw all their assets from one's platform to protect themselves from that move... well, you can characterize that as well as I can.

I admit that "calculated" might be a stretch, considering how far off their delivery date is. Despite that, the original announcement could have been more realistic ("we might support it soon ") but it wouldn't have made nearly as many headlines.

It does seem like they're understaffed. Maybe they were hoping the fork would wither away quickly and they wouldn't need to deal with it. As one of the largest exchanges they should have better contingency planning than that.

I hope they continue to succeed because I do like Coinbase.

Re: Update on Bitcoin Cash

#128

Post by zallarak »

gragas wrote: post #84

Honestly, I don't understand why everyone trashes Coinbase. I work very closely with numerous crypto exchanges for a living (I write code which interfaces with them). Outside of work, I've personally chosen to open a Coinbase account and trade on GDAX. Coinbase is, in my opinion, the most reputable exchange out there by far.

What do you work on that does that? I'd love to learn more. zain at za1 dot co

Re: Update on Bitcoin Cash

#129

Post by rurban »

obilgic wrote: post #6

so inflation comes in terms of forks in the realm of crypto currencies. Isn't it how it started with gold-based government currencies as well? every government created their own currency/fork of gold. edit: typo, inflation

Nope, that's the good thing about gold: you cannot fork it, it's limited, it has chemical and physical value, it cannot artificially inflate, like paper or digital money.

That's why wall street got off gold .

Re: Update on Bitcoin Cash

#130

Post by [deleted] »

lightedman wrote: post #99
untog wrote: post #73

Earlier quoted context omitted.

That doesn't sound like something you do while you're concentrating on bootstrapping your own project.

That's generally not an allowed behavior by lawyers in the first place. First they must be approached by someone else who has been wronged, or the lawyer themselves must approach another firm. Otherwise, he is still free to represent himself and only himself.

[deleted]
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