131–140 of 233 posts
I've been trying to log into my account for over 3 weeks with no response from Coinbase. They need to handle their own support issue better if they want consumer trust.
Earlier quoted context omitted.
This happened to me as well a few weeks back. Smells a lot like a Ponzi scheme. Looking for a new exchange, but they're all having problems with staying online or verifying new accounts.
Did you end up getting your coins from Coinbase?
their ID system had not worked for MONTHs. https://status.coinbase.com/ i cant buy or sell while traveling outside the USA.
Why do you use the worst service available? There are way better players in this market than Coinbase imo.
It is not easy to build a company/service like Coinbase; having said that, I think that Coinbase in its current state is slightly better than a joke, starting from their customer support.
Contacted their support 13 days ago about my account somehow being restricted (can't buy or sell). Not a peep besides the automated response. 13 days and counting... Wonder if anyone has an outstanding ticket being ignored that's longer than that
http://penguindreams.org/blog/cloud-at-cost-part-ii-the-unsu...
Earlier quoted context omitted.
This happened to me as well a few weeks back. Smells a lot like a Ponzi scheme. Looking for a new exchange, but they're all having problems with staying online or verifying new accounts.
> This happened to me as well a few weeks back. Smells a lot like a Ponzi scheme. Readers, please enshrine this comment as the canonical example of the Cryptocurrency Corollary of Godwin's Law: "As an online discussion about cryptocurrency grows longer, the probability of a comparison involving Ponzi approaches 1." Coinbase's entire business is to irreversibly and permanently send you Bitcoin in exchange for you send…
Because the Corollary is true. At this point to believe otherwise marks you as a credulous dupe.
You were probably defending Mt Gox up to the day of its collapse. The Bitcoin True Believers are the easiest marks for these scams and cons because their ideology blinds them to reality.
I've been trying to log into my account for over 3 weeks with no response from Coinbase. They need to handle their own support issue better if they want consumer trust.
Frankly, this (misplacing a transaction) is more concerning to me than delays or verification issues. Losing a transfer like that puts their whole transactional integrity into question.
Again, delays (something showing as "pending", etc) I could live with, considering their recent spike in usage. But, when a transaction is simply missing, while the ones before and after it are showing in Coinbase, is scary.
I agree with you that they need to handle their support much much better. The bulk of their cases (judging by the publicly visible mentions of @CoinbaseSupport on Twitter) can be handled by simply explaining the situation and telling people to wait. There are only 5 or 6 issue types that can be categorized and routed programmatically even. Instead, they are currently only responding to 0.5% (not a typo) of Support requests on Twitter (not counting DMs). I think that may be the lowest response rate I've ever seen from a company, especially a tech one.
Earlier quoted context omitted.
This is what insurance is for. If they can’t insure deposits, then that shows a fundamental weakness in the security model.
That is one reason why I'm actually kinda wild about distributed exchange like etherdelta (as proof of concept, at least). The security model is such that it literally doesn't exist in any country, anywhere in the world; doesn't have servers that can be hacked, etc. (Admittedly the website is housed somewhere, but it's little more than a GUI shell for signing procedure calls, you could run it locally or interact dire…
Coinbase should solve it's coinbase trust issue. I bought a small amount of litecoin almost 2 weeks ago, i'm well past my "delivery by" date, my funds left my bank account over 10 days ago, yet I still don't have my coins in my account.
Imagine building a startup that moves 10's of millions of new users' monies each month out of US bank accounts. While other startups are just scaling page views, Coinbase is scaling money. Keep in mind that it takes just one financial loss to break trust from the entire community. Has any other bank in history scaled this fast?
A good currency is fungible: It has a stable value and allows rapid exchange. Bitcoin does not meet these basic requirements. So many people forget that the original paper clearly states that Bitcoin is an experiment.
So some of these servers that were wise have only paid everything (servers, wages, etc.) using the real currency that comes in via credit cards and paypal and have just held onto the btc .. which makes it extremely valuable.
But people don't set prices in btc. The prices are set in fiat currency and are paid for based on the price of btc that day .. meaning you could have spent 10euro for a service last year in btc that would have been worth 100euro .. or that could be worth 0.01 euro depending on where the market goes.
But yes you're right, unless services start pricing actual service in btc, it's not really fungible for goods. It's always going through that translation layer. If anything, if McDonalds started taking mBTC and charged x mBTC for a burger and didn't change that value with the market, you'd start to see bitcoin stabilize (although you might be paying $100 for a burger some days .. if you go by what the exchanges claim the value is).