Title: Coinbase in Trouble, what about Shift? Post by: RawDog on May 24, 2016, 06:36:55 AM If Coinbase is in trouble, what about Shift? Will they die too? Does Shift have relationships with other exchanges or are they 'all in' with Coinbase? I am going out tonight to have a nice steak dinner on my Shift card that might not work tomorrow.
Title: Re: Coinbase in Trouble, what about Shift? Post by: Cyaren on May 24, 2016, 06:48:53 AM If Coinbase is in trouble, what about Shift? Will they die too? Does Shift have relationships with other exchanges or are they 'all in' with Coinbase? I am going out tonight to have a nice steak dinner on my Shift card that might not work tomorrow. As far as I know, there is no tangible proof that Coinbase is going to scam yet. It could, but any exchange can go scam. At least they are a company that has a good history and hopefully that will continue into the future. Also, Shift is only a partner of Coinbase's. Just like it's a partner with Visa as well. Being a partner doesn't mean that you put all your bitcoins into their system. Even if they did there must be some sort of insurance. So I'd say not worry about it. Title: Re: Coinbase in Trouble, what about Shift? Post by: Bitcoinpro on May 24, 2016, 06:52:08 AM does it work now are those funds coming from coinbase acc
Title: Re: Coinbase in Trouble, what about Shift? Post by: tiggytomb on May 24, 2016, 06:53:46 AM What is up with Coinbase I must have missed something? I know they are rebranding to GDAX and will be adding ETH and LTC but I haven't heard anything else.
As Cyaren said any exchange has the potential to scam but Coinbase is so involved with merchants and is a real presence here, it would really surprise me if they did end up scamming. Although stranger things have happened. Title: Re: Coinbase in Trouble, what about Shift? Post by: RawDog on May 24, 2016, 07:03:35 AM What is up with Coinbase I must have missed something? I know they are rebranding to GDAX and will be adding ETH and LTC but I haven't heard anything else. Apparently they spent all their money and have none left. Too much hype in the early days and no profits miles down the road. adios coinbase.As Cyaren said any exchange has the potential to scam but Coinbase is so involved with merchants and is a real presence here, it would really surprise me if they did end up scamming. Although stranger things have happened. Title: Re: Coinbase in Trouble, what about Shift? Post by: pooya87 on May 24, 2016, 07:03:38 AM What is up with Coinbase I must have missed something? I know they are rebranding to GDAX and will be adding ETH and LTC but I haven't heard anything else. As Cyaren said any exchange has the potential to scam but Coinbase is so involved with merchants and is a real presence here, it would really surprise me if they did end up scamming. Although stranger things have happened. yeah, i don't see any reason for that either, re-branding and adding other high volume altcoins to their service doesn't mean trouble at all it is just they everybody wants in on the trading fee they can earn through these altcoins. Title: Re: Coinbase in Trouble, what about Shift? Post by: pawel7777 on May 24, 2016, 07:59:01 AM Apparently they spent all their money and have none left. Too much hype in the early days and no profits miles down the road. adios coinbase. Source? Google gives me nothing Title: Re: Coinbase in Trouble, what about Shift? Post by: quentincole32 on May 24, 2016, 08:03:26 AM does it work now are those funds coming from coinbase acc little bit worry about my coinbase account yesterday,i can't move any coins to pay something,and seems they have trouble with bitcoin transactions,or maybe they have maintance time?but now its already work again,i wish coinbase still my favorite and never get any trouble,again.Title: Re: Coinbase in Trouble, what about Shift? Post by: pedrog on May 24, 2016, 10:13:38 AM Is there any source for this?
Title: Re: Coinbase in Trouble, what about Shift? Post by: RawDog on May 24, 2016, 10:18:06 AM Is there any source for this? Yeah, its the same source as they had for emp-ty Gox. By the time it makes it to the big headlines, it is too late. People 'were talking' about Gox for weeks before the thick people believed it to be true. Mark Karpeles assured everyone that things were fine and that there was a long road ahead. lol. Title: Re: Coinbase in Trouble, what about Shift? Post by: Bitcoinpro on May 24, 2016, 10:28:26 AM Is there any source for this? apart from it being some kind of shadow ponzi company :D Title: Re: Coinbase in Trouble, what about Shift? Post by: Bitcoinpro on May 24, 2016, 10:34:51 AM Title: Re: Coinbase in Trouble, what about Shift? Post by: TastyChillySauce00 on May 24, 2016, 10:38:32 AM does it work now are those funds coming from coinbase acc little bit worry about my coinbase account yesterday,i can't move any coins to pay something,and seems they have trouble with bitcoin transactions,or maybe they have maintance time?but now its already work again,i wish coinbase still my favorite and never get any trouble,again.Title: Re: Coinbase in Trouble, what about Shift? Post by: gadman2 on May 24, 2016, 10:40:33 AM As much as these threads are trolls, we should again remind everyone that it's -not- a good idea to store funds on any exchange or online wallet. Seriously, if you have more than 100$ in bitcoin you need a hardware wallet or paper wallet.
Title: Re: Coinbase in Trouble, what about Shift? Post by: Bitcoinpro on May 24, 2016, 10:46:40 AM Who is coinbases S&P A+ rated insurer
Title: Re: Coinbase in Trouble, what about Shift? Post by: gadman2 on May 24, 2016, 10:47:15 AM Who is coinbases S&P A+ rated insurer http://www.coindesk.com/coinbase-names-aon-bitcoin-insurance-broker/ Title: Re: Coinbase in Trouble, what about Shift? Post by: outatime1 on May 24, 2016, 10:53:20 AM I had not heard that Coinbase was having problems. I have a little bitcoin on their site, should I be concerned? I also haven't heard about adding etherium and litecoin. I had heard speculation a couple of years ago about litecoin when it was doing very well, but not lately. Why would they add litecoin now?
Title: Re: Coinbase in Trouble, what about Shift? Post by: Bitcoinpro on May 24, 2016, 10:54:19 AM Who is coinbases S&P A+ rated insurer http://www.coindesk.com/coinbase-names-aon-bitcoin-insurance-broker/ Baa2 ----> Moody's BBB+ -----> Fitch Can't find S&P plus Aon has some diff company listing types under that name this is enough to warrant a clarification from the CEO has Aon had a ratings downgrade lol reinsurance can't lift your rating on an insurance contract surely, it Will take me time to verify this *****Aon uses underwriters with high credit ratings, Coinbase explained, such as an Standard & Poor's rating of 'A+' or AM Best rating of 'A XV' or higher.****** in my opinion it's lies but that's just my view based on limited information combined with previous experience we need to see proof of the Anon contract and who the underwriters are Title: Re: Coinbase in Trouble, what about Shift? Post by: Bitcoinpro on May 24, 2016, 11:05:22 AM I had not heard that Coinbase was having problems. I have a little bitcoin on their site, should I be concerned? I also haven't heard about adding etherium and litecoin. I had heard speculation a couple of years ago about litecoin when it was doing very well, but not lately. Why would they add litecoin now? even rumours can bankrupt a company wat we have is information "slightly" better than rumours that is starting to show possible inconsistencies in information we have been provided with from coinbase, now some big companies have backed coinbase and Aon is the biggest insurance company I certainly wouldn't panic though reports of late withdrawals combined with previous twisted information from falling exchanges is enough to warrant halting deposit's to coinbase atleast Title: Re: Coinbase in Trouble, what about Shift? Post by: xuan87 on May 24, 2016, 11:10:34 AM I had not heard that Coinbase was having problems. I have a little bitcoin on their site, should I be concerned? I also haven't heard about adding etherium and litecoin. I had heard speculation a couple of years ago about litecoin when it was doing very well, but not lately. Why would they add litecoin now? Yeah i just heard that coinbase is going ti add new coin to the wallet, is it true that coinbase in troubles?I hope its not true like past few years rumour that said coinbase is a scam Title: Re: Coinbase in Trouble, what about Shift? Post by: TastyChillySauce00 on May 24, 2016, 11:30:21 AM I had not heard that Coinbase was having problems. I have a little bitcoin on their site, should I be concerned? I also haven't heard about adding etherium and litecoin. I had heard speculation a couple of years ago about litecoin when it was doing very well, but not lately. Why would they add litecoin now? because lite coin still worthy to be added to the exchanger, litecoin have market volume (24h) around 2,751 BTC and by looking into this,litecoin still have so many users and seems not to be failing soonTitle: Re: Coinbase in Trouble, what about Shift? Post by: Bitcoinpro on May 24, 2016, 11:31:12 AM Coinbase only contracted Aon as an Insurance broker
so we are back to square one and still have no idea who has insured coinbase and what their current rating is Title: Re: Coinbase in Trouble, what about Shift? Post by: avikz on May 24, 2016, 11:54:23 AM Is there any tangible proof that coinbase is going to scam??? Is it all rumors?? What is the truth??
I have good amount of dollars in coinbase wallet. What should I must do now?? Is it better to transfer all my bitcoin to blockchain.info wallet??? Title: Re: Coinbase in Trouble, what about Shift? Post by: Bitcoinpro on May 24, 2016, 12:16:34 PM Is there any tangible proof that coinbase is going to scam??? Is it all rumors?? What is the truth?? I have good amount of dollars in coinbase wallet. What should I must do now?? Is it better to transfer all my bitcoin to blockchain.info wallet??? Your really the only person who can decide this, If u withdraw now past history shows when the exchanges go down they honour withdrawals until they become greater than deposits, try stealth and break your withdrawal into smaller amounts, Take out 50% and store it safely in a cold wallet only if u know what ur doing, u could also withdraw ur some BTC to another exchange or withdraw in USD If u withdraw to dollars u risk the price increase of the halving which should be substantial whatever u do leaving 100% of funds on an exchange is not recommended Title: Re: Coinbase in Trouble, what about Shift? Post by: arwin100 on May 24, 2016, 12:19:18 PM What coinbase hack??? Are you sure?? Maybe this us just another walking hoax here maybe their just upgrading things in their wallet, do any there have supporting documents that this is happening? Well for now im trusting coinbase because im using it since im starting using bitcoin and i didnt getting bad issue since im using it and my problem some times with coinbase is their changing of btc addy per log in in their wallet thats all nothing less and add.
Title: Re: Coinbase in Trouble, what about Shift? Post by: nioc on May 24, 2016, 12:33:46 PM Is there any tangible proof that coinbase is going to scam??? Is it all rumors?? What is the truth?? I have good amount of dollars in coinbase wallet. What should I must do now?? Is it better to transfer all my bitcoin to blockchain.info wallet??? If you don't have the private keys you don't have the btc. May I suggest using electrum wallet. You don't need to download the blockchain. When you set up a wallet a multi word seed is created. With that seed you can recreate your wallet on any computer at anytime. So it doesn't matter if your comp burns in a fire, just keep your seed(s) safe. I have my seeds in multiple locations People who I can put my life in their hands have access as well for If you don't have the private keys you don't have the btc. If you don't have the private keys you don't have the btc. If you don't have the private keys you don't have the btc. Title: Re: Coinbase in Trouble, what about Shift? Post by: franky1 on May 24, 2016, 01:08:44 PM here are some clarifications..
coinbase will continue as coinbase. but there are several levels.. the consumer (small spend / occassional spend) will continue on the standard coinbase platform.. but the large 'whales' and heavy investors will get a nice upgrade to GDAX which is 'supposedly' a better trading platform/engine, for the larger 'whales'. but as always its an online third party service so remember the principle rules that bitcoin was invented to teach dont throw all your wealth into third party control if you cant spend it whenever or however you like, without being questioned... its not really yours, even if you think it is. third parties can disappear faster then the CEO of goldmansache got on a plane in 2007 third parties can disappear faster then the CEO of bitcoinica third parties can disappear faster then the CEO of mtgox (mark kerpeles) went into hiding in his penthouse third parties can disappear faster then the CEO of intersango went into hiding squats in UK and europe third parties can disappear faster then the CEO of cryptsy went into hiding after his divorce hearing third parties can disappear faster then the CEO of mintpal went into hiding after just being a thief so dont put in more then your willing to lose Title: Re: Coinbase in Trouble, what about Shift? Post by: Bitcoinpro on May 24, 2016, 01:17:10 PM here are some clarifications.. coinbase will continue as coinbase. but there are several levels.. the consumer (small spend / occassional spend) will continue on the standard coinbase platform.. but the large 'whales' and heavy investors will get a nice upgrade to GDAX which is 'supposedly' a better trading platform/engine, for the larger 'whales'. but as always its an online third party service so remember the principle rules that bitcoin was invented to teach dont throw all your wealth into third party control if you cant spend it whenever or however you like, without being questioned... its not really yours, even if you think it is. third parties can disappear faster then the CEO of goldmansache got on a plane in 2007 third parties can disappear faster then the CEO of bitcoinica third parties can disappear faster then the CEO of mtgox (mark kerpeles) went into hiding in his penthouse third parties can disappear faster then the CEO of intersango went into hiding squats in UK and europe third parties can disappear faster then the CEO of cryptsy went into hiding after his divorce hearing third parties can disappear faster then the CEO of mintpal went into hiding after just being a thief so dont put in more then your willing to lose Don't u mean citi CEO 2007 And now I get the feeling Frankie English is ur second language Title: Re: Coinbase in Trouble, what about Shift? Post by: bittrojan on May 24, 2016, 04:59:10 PM i dont care about coinbase trouble,i still use it and working properly,and if coinbase collapse or change anything about them,i just make new blockchain wallet yesterday,and not too worry about it.
Title: Re: Coinbase in Trouble, what about Shift? Post by: AliceWonderMiscreations on May 25, 2016, 12:23:43 AM Sold some BTC last week and the cash never arrived.
Support says they corrected the problem and I should have it by thursday. It is possible it was a simple bug and I am willing to give them the benefit of the doubt, but I'm reporting just in case there are lots of people this started happening to. Title: Re: Coinbase in Trouble, what about Shift? Post by: AliceWonderMiscreations on May 25, 2016, 12:27:23 AM It is possible something about my transaction raised a flag, I don't keep my BTC at coinbase, I keep most of it in cold storage and only transfer to coinbase to sell.
While all of my BTC sources are legitimate, it is quite likely that some of what I do, my customers have tainted bitcoins. Still if that was the issue then I should be told. Whatever the issue, it's not nice being told it would arrive one day and not having it arrive. I hope it was just a simple bug. edit - s/nice being/not nice being/ Title: Re: Coinbase in Trouble, what about Shift? Post by: franky1 on May 25, 2016, 12:37:08 AM It is possible something about my transaction raised a flag, I don't keep my BTC at coinbase, I keep most of it in cold storage and only transfer to coinbase to sell. While all of my BTC sources are legitimate, it is quite likely that some of what I do, my customers have tainted bitcoins. Still if that was the issue then I should be told. Whatever the issue, it's nice being told it would arrive one day and not having it arrive. I hope it was just a simple bug. the funny think about AML/KYC 'FLAGS' is that all MSB businesses should not hold peoples funds to ransom.. they should just collect data and report it, while processing transactions as normal. it is then upto the financial crimes agencies to see if those reports lead to known black list activities and in worse case get a court order to freeze accounts later. it is not the job of MSB to freeze accounts or punish the customer. nor is it the job of MSB to even inform the customer that they are being investigated. as that in itself is a bad thing that can get the MSB in trouble to inform a customer of an investigation or hold funds to ransom. a previous post of mine highlighted a few general points https://bitcointalk.org/index.php?topic=1479288.msg14914469#msg14914469 but the links an lead you to a more detailed read of what MSB should and shouldnt do. an MSB can 'hold funds' by mistake EG internal processing error EG possible hack detected EG funds went to wrong destination and takes time to rectify. but cant hold funds due to 'flags', as those flags are just about internal reporting(paperwork) of issues (after the fact) and not a reason to hold funds Title: Re: Coinbase in Trouble, what about Shift? Post by: fenican on May 25, 2016, 01:06:36 AM I have used coinbase recently with no problems whatsoever. This thread seems like FUD. Where's the proof?
Title: Re: Coinbase in Trouble, what about Shift? Post by: btccashacc on May 25, 2016, 04:57:24 AM actually I had not heard that coinbase was having problems or any bad news
but if someday it is trouble, collapse or something happen with them, to be honest ,i'm not too worry about it. so far i don't keep all of my Bitcoin at coinbase, just for speendable amounts ,i keep most of it in cold storage and other wallet. Title: Re: Coinbase in Trouble, what about Shift? Post by: avikz on May 25, 2016, 05:16:04 AM Is there any tangible proof that coinbase is going to scam??? Is it all rumors?? What is the truth?? I have good amount of dollars in coinbase wallet. What should I must do now?? Is it better to transfer all my bitcoin to blockchain.info wallet??? Your really the only person who can decide this, If u withdraw now past history shows when the exchanges go down they honour withdrawals until they become greater than deposits, try stealth and break your withdrawal into smaller amounts, Take out 50% and store it safely in a cold wallet only if u know what ur doing, u could also withdraw ur some BTC to another exchange or withdraw in USD If u withdraw to dollars u risk the price increase of the halving which should be substantial whatever u do leaving 100% of funds on an exchange is not recommended Thank you. I have already withdrawn all my bitcoin to blockchain wallet. I have two transactions and went on smoothly. I think blockchain wallet is the most secure as of now. What is your take on blockchain wallet? Title: Re: Coinbase in Trouble, what about Shift? Post by: Kakmakr on May 25, 2016, 05:26:47 AM Coinbase is a exchange, and the general rule of thumb after the MtGox incident was for people not to store their coins in a service, where you do not have full control over your private keys. If you ignored this advice, you are looking for trouble.
I only signed up with them, because some merchants did not want to accept BTC if it was not connected to a regulated exchange. I deposited the BTC, then bought the item and withdraw the change until I needed them again. Title: Re: Coinbase in Trouble, what about Shift? Post by: Divinespark on May 25, 2016, 05:39:33 AM I understand that growth has been a little slow but there should not be any reason to panic
Bit bemused by the rumours and panic-mongering out there Title: Re: Coinbase in Trouble, what about Shift? Post by: gagalady on May 25, 2016, 05:41:16 AM I thought Coinbase had insurance coverage ??
Title: Re: Coinbase in Trouble, what about Shift? Post by: QuestionAuthority on May 25, 2016, 05:58:15 AM Another one bites the dust
Another one bites the dust And another one gone, and another one gone Another one bites the dust Hey, I'm gonna get you too Another one bites the dust Title: Re: Coinbase in Trouble, what about Shift? Post by: Bitcoinpro on May 25, 2016, 06:03:44 AM I thought Coinbase had insurance coverage ?? It was a marketing gimmick from scammers Title: Re: Coinbase in Trouble, what about Shift? Post by: ngesotcoy on May 25, 2016, 06:16:27 AM I thought Coinbase had insurance coverage ?? It was a marketing gimmick from scammers I think coinbase is legit, but if your gonna be moving a lot of btc or buying a lot you need to verify your account otherwise you risk your account being frozen. Basically they don't want people money laundering through their site. Title: Re: Coinbase in Trouble, what about Shift? Post by: Bitcoinpro on May 25, 2016, 06:40:39 AM their is more noise about Coinbase than any of the exchanges before they went
bankrupt, Coinbases addresses need to be pooled together now before they go bankrupt not after, investigating now will put pressure on the VC's to make a fast decision and with all the brand name banks involved it will look bad on the if coinbase went under Title: Re: Coinbase in Trouble, what about Shift? Post by: RawDog on May 25, 2016, 06:44:23 AM I have used coinbase recently with no problems whatsoever. This thread seems like FUD. Where's the proof? Same thing they said about Gox. You'll have your proof the day after all the money will be gone. But by then, all the money will be gone. Get it? |