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Coinbase: The Heart of the Bitcoin Frenzy

nytimes.com

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Re: Coinbase: The Heart of the Bitcoin Frenzy

#51

Post by joshribakoff »

lpa22 wrote: post #48
benbreen wrote: post #19

Earlier quoted context omitted.

I am on my fifth month of waiting for my account to be unfrozen so I can withdraw my funds. I managed to get through once by phone (was assured that the issue was being resolved) and once via email (same) but for the past two months, nothing. I believe the CEO and probably several other employees are on HN so if any of them see this - please get your act together. Scaling is great but customer support needs to come a…

Haha they made you a lot of money by waiting this long!

Technically he won't have made any money until he sells, which it doesn't seem like is going to be possible anytime soon

Re: Coinbase: The Heart of the Bitcoin Frenzy

#52

Post by branchless »

malloryerik wrote: post #26
drawkbox wrote: post #18

With the frenzy out there, Coinbase makes crypto currencies trading/investing/purchasing as robust and seemingly as safe as possible. This could be a signal, now that we have some reputable market players that crypto currencies are really just starting and there is a very high ceiling. Getting in before coinbase you had to mine your own (that party ended quickly - Butterfly Labs, cex.io for cloud mining etc) or be pa…

Most foreign exchange and derivatives exchanges are on 23.5 hours a day, except weekends.

Nope. Investment banks are the main OTC for forex and they are shut weekends, as are major ECNs.

Something might be open that will change your money but there is no real liquidity on the weekend.

edit: do tell us hacker news instead of the downvotes...

Re: Coinbase: The Heart of the Bitcoin Frenzy

#53

Post by Phlarp »

zodiac wrote: post #42
Phlarp wrote: post #14

Earlier quoted context omitted.

They should consider paying more to find a suitable equilibrium.

Well, people already complain about the fees they charge

Everyone is commenting how great their cash flow must be upthread-- regardless, it hardly matters.

If supporting your customer base makes the business unprofitable then you don't (yet) have a viable business model.

Re: Coinbase: The Heart of the Bitcoin Frenzy

#54

Post by Phlarp »

bob_theslob646 wrote: post #47
nikolay wrote: post #44

Earlier quoted context omitted.

"As as safe as possible" - are you out of your mind?!

Serious, this. There is no recourse for recover in the event of securities fraud.

For many crypto enthusiasts this is a feature not a bug.

Re: Coinbase: The Heart of the Bitcoin Frenzy

#55

Post by dmcy22 »

stephengillie wrote: post #38
yellow_postit wrote: post #35

Earlier quoted context omitted.

Use GDAX and a limit order and you can purchase for free. Easy to transfer between gdax and Coinbase.

If GDAX is better why use Coinbase?

GDAX is a trading platform, so it might seem a little more daunting (UI-wise) for someone new to crypto.

Re: Coinbase: The Heart of the Bitcoin Frenzy

#56

Post by paulcole »

bob_theslob646 wrote: post #47
nikolay wrote: post #44

Earlier quoted context omitted.

"As as safe as possible" - are you out of your mind?!

Serious, this. There is no recourse for recover in the event of securities fraud.

The original quote is about trading/buyin/selling crypto not real securities. Does any service offer fraud protection and/or make it safer than coinbase?

Re: Coinbase: The Heart of the Bitcoin Frenzy

#57

Post by quickthrower2 »

ganeshkrishnan wrote: post #34
malloryerik wrote: post #26

Earlier quoted context omitted.

Most foreign exchange and derivatives exchanges are on 23.5 hours a day, except weekends.

Only derivatives and forex. Stock is still office hours and out of regular hours (+-1 hour I think) is reserved for the big boys.

Bitcoin is more akin to a Forex or Gold than Stock,

Re: Coinbase: The Heart of the Bitcoin Frenzy

#58

Post by drawkbox »

nikolay wrote: post #44
drawkbox wrote: post #18

With the frenzy out there, Coinbase makes crypto currencies trading/investing/purchasing as robust and seemingly as safe as possible. This could be a signal, now that we have some reputable market players that crypto currencies are really just starting and there is a very high ceiling. Getting in before coinbase you had to mine your own (that party ended quickly - Butterfly Labs, cex.io for cloud mining etc) or be pa…

"As as safe as possible" - are you out of your mind?!

Safer than it was but your take also shows that it is just starting, people are still deterred by the risk. As it becomes safer the risk goes down and more enter. It is still the early days of crypto currencies for this reason.

The fear you have is real, but it is slowly getting better and with that more will enter. Just like investing in early companies, it is riskier now, but as it becomes safer, those risk takers are rewarded.

Funds were lost in mtgox, btc-e, many others and there is fraud abound (pre-SEC times or early), but coinbase and the coins they offer are currently safer than it was. As more players enter it will be safer still.

Re: Coinbase: The Heart of the Bitcoin Frenzy

#59

Post by stale2002 »

nikolay wrote: post #44
drawkbox wrote: post #18

With the frenzy out there, Coinbase makes crypto currencies trading/investing/purchasing as robust and seemingly as safe as possible. This could be a signal, now that we have some reputable market players that crypto currencies are really just starting and there is a very high ceiling. Getting in before coinbase you had to mine your own (that party ended quickly - Butterfly Labs, cex.io for cloud mining etc) or be pa…

"As as safe as possible" - are you out of your mind?!

It's safe if you keep your money in coinbase.

Re: Coinbase: The Heart of the Bitcoin Frenzy

#60

Post by Frogolocalypse »

kvee wrote: post #28

Most interesting thing I learned from this article: Brian Armstrong, Coinbase CEO, "said he now holds more of his wealth in a Bitcoin competitor, Ether"

Brian Armstrong has quite the history of being on the wrong side of every argument to do with safe and scalable crypto implementation. He has been a champion of centralization and attacks on bitcoin governance. He was a vocal proponent of four out of the five failed fork attempts of bitcoin over the past couple of years. He, and coinbase investors, are very lucky they had people like Charlie Lee managing the technical parts of coinbase.
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