Bitcoin Forum

It's amazing the headache coinbase put me through this week. I tried to put through several large purchases of bitcoins which all ended up being cancelled. I was told by their very brief and non helpful CS rep that the orders were being stopped by my bank. I went to my bank and spent 40 minutes on a work day to make sure none of the orders were being stopped or flagged. After making sure of this I checked my account info and saw I was minus -10k US dollars to coinbase. So apparently it wasn't my bank blocking the charges at all. Anyway Coinbase now has my $10,000 and I have no coins to show for it. If I have been flagged for fraud or something that is fine but at least tell me that so I don't waste time trying to go to my bank or keep putting charges through.

This is really an example of how having a monoply on a business is bad news for everyone. The customer service guy was extremely rude and not helpful in the slightest. If I am suspected of fraud its funny how Coinbase now has my money and I have nothing to show for it. Hopefully this shitty company learns that phone calls and thorough responses are essential to proper customer service. Its unfortunate as I want to buy a significant amount of BTC but coinbase is definitely not the place to be.

Coinbase should have a fulltime rep here to handle any issues

There are other ways to buy BTC other than Coinbase. Issues of Coinbase have been known for ages, and I don't get why you would continue choosing them...

honestly where else can i buy 10k+ usd of btc at a time? seems coinbase was th eonly option

I guess Virwox.com could do the job but you will need to become Level 4 user (which you can become by request and nothing else).
It's not recommended to buy a Level 3 account from someone and then request to go Level 4 , If something goes wrong and you can't proove the ownership somehow ... you will get screwed.
So I'd suggest making an account (Fresh one) and contact them asking for Level 4 upgrade , If they ask you to become Level 3 first then you should deposit using Paypal or Skrill , wait 3 months and then you ask again for your 4 level upgrade .

This is why decentralization is the future. A multisig wallet, controlled by the bitcoin community, maybe?

I understand your problem, bitcoin is hard to obtain, not even in large numbers. But wait a few years, and the market will smooth itself out. If you can't wait that long, then you'll have to put up with *shudders* Coinbase.

local bitcoin's some users have a very solid reputation, just buy 1 btc at a time to be safe

i'm coinbase user,and its really not wonder if coinbase fo something like that without reason,on last year coinbase also do same thing to other people,and he already post on this forum,but its not make me leave coinbase.

Their support people were being banned by Theymos on the bitcoin subreddit, and probably figure they'll get banned here too, which is why they don't have a presence on bitcointalk anymore.

OP should start a thread on the Coinbase subreddit, and one of their mods should be able to help:

https://www.reddit.com/r/CoinBase/

or send a private message directly to Brian Armstrong: https://www.reddit.com/user/bdarmstrong

i dont think

why where they banned

Armstrong tweeted support on twitter for Classic. Theymos then decided to take revenge on the Coinbase support staff on the bitcoin subreddit (even though they weren't talking about classic at all, but were only dealing with support issues such as people having difficulties with deposits).

It was a dark episode, which has resulted in Coinbase thinking that it's future lies outside the Bitcoin space, hence the reason they are rebranding as a digital wallet rather than a bitcoin wallet, and are adding Ether and LTC. When you realise that Coinbase have 10% of all bitcoin reserves it is serious stuff.

Localbitcoin indeed has quite a reputation.
What I don't like with locallbitcoins however is that the price are somehow unfairly high. Other than that, it's quite a sure supply.

10K usd is really a large sum of money how a registered legal company like coinbase can go away with such amount without giving any bitcoin to its users? ISn't they regulated by US government i mean moderated or got certified?

Have you asked your bank about your problem? Cant you just file a case in court against coinbase?

In will never use coinbase. As a noob I'm really glad I found out about their bad service. I have only heard bad things about them never good. So I'll steer way clear.

I was coinbase user either, but I left it. It sounds risky if you still use coinbase after people posted thread like this.

There's a whole bunch of other large bitcoin exchanges, but they are outside the USA, so ... Or you could buy coins privately, or course them through an individual who can buy the coins for you, but that's going to take twice the time.

I remember a time when I bought about a hundred coins from someone and wired him money to 3 different countries, to keep below 10k USD each. I got all the coins in about 3 or 4 days. All because I couldn't be bothered to create an account on those other exchanges. (Now I did create accounts on them all. Some in Europe, some in North America, some in Asia.)

The question is:  why is the OP using coinbase at all?   hasn't learned his (or her) lesson yet I guess...

Sorry to hear about your problem OP. But you should've just searched for reputable traders that do bank transfer. Localbitcoins and this forum have some highly reputable traders. Especially since Coinbase is having problems right now.

That's terrible to hear. I think it was a jr. rep. who saw your account was flagged and though he/she was able to assist. Those people don't have all clearence to check and shouldn't be answering these kind of tickets.

I had a bad experience from Coinbase in the past as well. They locked my account right after I received an amount on that address and their reason was, due to my location (they could have locked my account before I received anything but they didn't, but on the other hand, it wasn't anything near what you lost). Their definitely not trustworthy in my book. Since your after purchasing 10k+ of $ in BTCitcoin, most exchange platforms that do these trades, they have is on reserve addresses and all you have to do is to make a support ticket to them and ask for the amount and they do it for you manually (I've done similar thing with a local exchange in my country). None of them would put up everything they have because of security reasons.

Stick with localbitcoins in this scenario and buy only from very very high trusted members there, to be safe buy even 0.5 or maximum 1 bitcoin per time, and I am sure you will have no problem and of course you will not be -10k which of course makes anyone angry. Coinbase is well known for blocking accounts just because they think you are suspect to fraud.

coinbase is super slow right now, anyone else?

Yes, I'm having the same issue at the moment, its very slow with loading every... page these days, its getting longer and longer..

We learn from our mistakes. Coinbase has great security, so we can feel safe, but sometimes they are too strict . Remember that you can always make a transaction using a different exchange.

Please let us know how this story will be resolved by Coinbase.

Indeed I also would like to know how they gonna resolve this, the fact is that they are indeed very secure but sometimes also have problems because of this, I think they are okay and are doing it well for their users.