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

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

#241

Post by lostlogin »

quack wrote: post #227
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.

No. The joke is that people are demanding a product so badly that theyre doing business with kiddies who dont know how to run a financial institution. This is literally an economy of "shut up and take my money," but no one wants to play ball.

I know this is bad, but financial institutions haven't exactly been reliable, honest, faultless or good, particularly the last few years. My own experiences have been bad, but the world still hasn't pulled out of the hole that the financial industry dug, so I'm pretty well off and lucky if I'm compare myself to the average. I'd suggest a different standard to hold this company to.

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

#242

Post by bonemachine »

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.

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.

And which just ate $25MM in Series B.

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

#243

Post by VMG »

chasing wrote: post #112
jonpaul wrote: post #67

Earlier quoted context omitted.

No way. Regulation won't solve these sort of things. It will just make the barrier to entry that much higher. Now people have a voice more so than ever before. If companies don't act appropriately, people can post stories and complaints online. The companies reputation will then suffer. This is exactly what's happening here.

Ah, the libertarian fantasy of the completely informed and rational public, always willing and able to promote the good guys and eradicate the bad guys...

as opposed to the reality of completely informed rational and benevolent government elected by the same people?

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

#244

Post by lsc »

bsiddiqui wrote: post #184
hack_edu wrote: post #144

Earlier quoted context omitted.

After the 25mil from a16z, I doubt these problems will continue for much longer.

you shouldn't have to raise money to provide solid service

>you shouldn't have to raise money to provide solid service

I agree... but being a market maker is one of those things that requires some reserves, and especially the early exchanges? when bitcoin was under a buck, I can totally see getting together with a couple friends and putting $20-$30K in the reserve pot and giving it a go. But with bitcoin appreciating 1000x? yeah, uh, that got serious fast. Thirty grand is no longer anywhere near a reasonable amount of operational reserves

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

#245

Post by ceejayoz »

eof wrote: post #91
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…

again, the best way to get support from coinbase is posting on public forums. i love coinbase, i think guys have done and will continue to do amazing things for bitcoin, and by proxy the world at large.. but your initial customer support is outrageously terrible and has been for way too long. you always seem to make it right in the end.. but you should hire about a dozen of the ten thousand kids that would love be on…

Yeah, their support is pretty bad. I got this response to my first support request:

> Thank you for contacting Coinbase Support! Unfortunately, we are experiencing a tremendous volume of support requests, and have not been able to answer your ticket in a reasonable amount of time.

It goes on to tell me my issue is closed and I can reopen it.

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

#246

Post by joonix »

bushido wrote: post #216
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…

Yikes! Please tell me you consulted with a lawyer before posting this publicly? Even if you gave the OP the BTC at current rates SEC/Courts can make a case against this sequence of events. It does not even have to be reported. I have nothing against you or Coinbase and I do sincerely hope I am wrong. This can have dire consequences on your current and future business(es). It would have been best to refund the withdra…

Coinbase is not a bank. Or a financial institution. If it were, it'd have a charter and licenses. It's a merchant just like any other. You give them money in exchange for goods. No different than iTunes.

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

#247

Post by [deleted] »

FireBeyond wrote: post #191
sheetjs wrote: post #124

Earlier quoted context omitted.

> As a result, the investor is taking a material loss solely due to Bitcoin's failure to deliver. They are very careful not to use the word "invest" or "investment" or even remotely suggest that BTC is an investment. They merely discuss buying and selling BTC. This is akin to a marketplace for buying and selling Magic the Gathering cards. An MtG exchange doesn't treat the Wrath of God cards as an investment; in the s…

Certainly, to be exact, his decision to 'invest' is entirely separate from the functionality offered by Coinbase, et al. Duly noted, but if you can demonstrate a material loss due to the failure to deliver of another party, it would be hard to argue you don't have a civil case for losses / damages.

[deleted]

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

#248

Post by dkersten »

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…

If this is the case, why didn't you respond to the emails?

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

#250

Post by jlas »

1945 wrote: post #236
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…

In other words, Coinbase is going to supplement ~$13,950 loss with $50.

In other words, Coinbase just pocketed his loss. (Assuming the transaction was made today.)
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