Bitcoin Forum

While the certainty remains in question, Coinbase falling is a very big blow to the community.  Without a good solid exchange, I am not sure bitcoin will have an easy time getting user adoption up to where it needs to be.  It sure is sad to see a real institution go down like that.

I think coinbase is not a good solid exchange for now, bitstamp is more better and reliable than it, as it is the first national licensed bitcoin exchange and with that a number of people are redirected to it and they shifted their trade to there.

A bunch of these FUD posts are popping up because coinbase enabled ETH trading today. They got tired of watching Bitcoin's utility and competitiveness be eroded away to benefit Blockstream's plans for a settlement layer model for BTC. As Core has capped the potential growth of the Bitcoin network... businesses, users, and investment will flow to competitors. It's not personal, it's just simple 101-level economics.

You sound like as if there wouldn't be any other solid exchanges with good reputation out there.
This is ridicolous.If one company messes it up, because they were not able to build a solid business model, a fail is the logical result.
This has nothing to do with Bitcoin when a few entrepreneurs are just too stupid.
IF Coinbase should really have problems and go down, someone else will take their place.Simple is that!

That's a big part of it I think.

Brian Armstrong, their CEO, was/is a big supporter of increasing the maxblocksize, so there's some hate for that too.

Fred Ehrsam, the other co-founder, wrote a piece today describing the situation:
https://medium.com/the-coinbase-blog/ethereum-is-the-forefront-of-digital-currency-5300298f6c75

Money flowing into ETH, isn't flowing into BTC, and that makes BTC investors nervous and frustrated. As coinbase is a major gateway for the crypto/fiat trade... people no longer have to buy BTC to buy ETH. Shame it's come to this, but it's important for people to realize that BTC doesn't have a monopoly on this industry (especially when it is being purposefully handicapped by Blockstream Core devs with a glaring conflict of interest).

 

the whole point of bitcoin is that it is decentralized.

a "big exchange" falling should not have a large impact. MtGox was a little different because back then there were less option and also MtGox embazzled a lot of coins and affected the market in many other ways.

I just spoke to coinbase on the phone. Yes the phone. The guy I spoke to said they weren't aware of any issues. He seemed shocked I was able to get his number.

(800) 343-5845 is there support line which goes to a vm

(850) 728-9952 goes to Blake Ratliff - Works in compliance and investigations. This is the guy I spoke with who seems to be the right contact

(415) 513-9024 is the CEO Brian's direct line- was busy when I tried.

Lol, serious? Not aware of any issues?

Im sure Brian's going to be happy today when he gets a heap of calls from people who just glanced at this topic and really think that Coinbase is going down.
They are just rebranding and adding a couple of additional coins.
they have to keep up with the times or they will fail, this is a good thing to happen for Coinbase users.

The rumor is there are issues where they are double withdrawing from users bank accounts without consent,
and at other times, not withdrawing from users bank  account but providing btc not requested.

There are rumors that they were hacked, others say it is problems with the new exchange system.
Coinbase's current statement is that they were upgrading and are refunding users banks accounts.

https://www.reddit.com/r/Bitcoin/comments/4ktvpk/whats_going_on_with_coinbase_very_suspicious/ (https://www.reddit.com/r/Bitcoin/comments/4ktvpk/whats_going_on_with_coinbase_very_suspicious/)
https://www.reddit.com/r/Bitcoin/comments/4kuk8g/coinbase_scammed_me_of_10k_usd/ (https://www.reddit.com/r/Bitcoin/comments/4kuk8g/coinbase_scammed_me_of_10k_usd/)

So it is not entirely because of the ETH addition or just plain FUD.

[/quote]I have seen the one account of someone saying they the 10k withdrawal, it is said it is being refunded so it's not quite a witch hunt yet, that and he had tried to have them withdrawal earlier and his bank stopped it until he manually override it. I am guessing the Coinbase system had a queue or possibly there was an issue where coinbase withdrew one and the new system GDAX did as well.
[/quote]


No, and that was me. I tried to purchase large quantities of bitcoin which apparently flagged my account and all of my orders kept getting cancelled. I was told my bank was blocking the charges. After resolving all the issues I saw 10k had been pulled by coinbase, so clearly it was not my bank blocking the charges. Anyway that 10k was pulled but coinbase "cancelled" the transaction. The automated email said I would be refunded in 3-4 days but I was now told by the rude CS guy to check back in after 10 business days.

So yes it appears coinbase is just deciding to hold onto my funds.

Coinbase isn't failing, you fool!   Yeah it would be bad news if they failed or Goxxed but that's not happening.

This is just FUD by signature campaign spammers too lazy to buy some ETH as a hedge.

I was just told on another thread that we should not panic about coinbase and that they aren't going out of business. There is apparently a rumor that they are having problems but it is just a rumor. I'm not going to worry about it right now because  they have been very stable for a long time as far as I can tell.

unfortunately its still the wild west out there.

we wont know the IBM of bitcoin vs the failed bitcoin
start up for years. Its the reason why I dont think anyone
should keep or use just one exchange. Especially after what
happened with gox.

Is this the first case of quantum entanglement where the counterpart doesn't flip? Perhaps, the event times are too close together. Let's wait a few months and see what happens.

We are  living in thew cyber age, things like this happen. It's very possible that they have been hacked, unfortunately today this is a "normal" risk in online business. But the major issue here , to my opinion, is not if they were hacked or not, or if there is some other security issue, but the problem is how will they handle it, what will they say to their clients and what wll they do that this doesn't happen in the future anymore. And if clients suffered any damage how will they compensate it and how quickly are they able to re-establish they reputation again.

https://www.linkedin.com/in/blake-ratliff-81450957

https://i.imgur.com/iUTXEMU.jpg

I'll give you a nickle if you find anything remotely related to M.H.R. Land Surveyors.

Where do you get your news from? They rebranted their exchange and added eth to it. Nothing more to it.

http://www.mhreng.com/services/land-surveying_13.html


"Welcome to MHR Engineering, LLC. | Civil Engineering ConsultantsIcon Call Us
210-317-7241

Land Surveying
Home / Services / Land Surveying
Land Surveying

Major Areas:

Platting (Minor, Major, Amending & Replat)
Title Survey for Residential & Commercial
Boundary Survey
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Construction Survey
Right-of-Way Survey
ALTA/ACSM Survey"

Based in Texas.
Hey a nickel is a nickel (unless it is a bitnickel)

Coinbase's financial backers (IE ratfucking VC shitlords) need to see an ROI sufficiently exorbitant to justify their investment in such a speculative high-risk sector.

We have been hearing rumors Coinbase has been unable to deliver such an ROI, nor provide a credible plan to attain one.

This provides a non-trivial amount of possible insight into Coinbase's recent anti-Bitcoin behavior.

Coinbase's business plan was to position itself as the premier rent-collecting bottleneck between fiat and Bitcoin.

But that hasn't worked out, for a plethora of reasons we need not digress into here.

In sheer desperation, Coinbase has now gone 100% Full Buttcoiner, doubling down on their CEO's previous Core trolling with Precious Fred's recent (and predictable (https://bitcointalk.org/index.php?topic=1330553.msg14588677#msg14588677)) ETH Manifesto.

Should things get out of hand, I anticipate Szaboshi will end, with one of his trademark Domination Tweets, this latest chapter in the Great Schism.   8)

Stahp! my sides! How much money have your buddies' Blockstream raked in from these shitlords again?? Where is their revenue? Surely dwarfs the amount of business Coinbase does?

The whole reason we got into this mess was because Blockstream doesn't have a business model unless they can cripple the utility and throughput of the native Bitcoin network. In their arrogance they forgot that they don't have a monopoly on cryptographic value transfer... Competitors are now coming in to fill the demand Bitcoin can't. It hasn't worked quite as well for your pet coin Monero as you might have hoped and planned, but it is happening.

The only thing I see is Coinbase diversifying itself away from being completely reliant on, and invested in, a network that has become the plaything and tinker-ground of Blockstream. They'd be fools not to at this point. 

yeah, i agree with this. if CoinBase does a scam/falls or closes down or whatever that would be so bad for bitcoin community because it is one of the easiest ways for NEW people to get into bitcoin by doing everything in one place: buying-selling-holding as a wallet.

although i have not yet seen any indication of them falling!

scammers never are

how much money have u got in  Coinbase

u know defending them dosnt get ur money back

are u happy to know they lied and haven't insured any of ur funds?

call the poliice it's blatant fraud

This. They are under concerted attack from people cross at them for adding Ether. What did blockstream expect? All the stuff they promised (SegWit etc) hasn't happened, and the network is getting more and more congested. It is natural for Coinbase to respond - because their users want an alternative too.

it is really going to suck if another big bitcoin related service turns into scam and goes down, especially because they have been kind of a huge deal in bitcoin both for buying bitcoin and using as a wallet.

Coinbase is not turning into next mt gox for sure as i have heard they have some kind of financial insurance and they are running under governement authorization so they can't just run away with users fund. But later they have lots of withdrawl probelm as posted by several users here in forum.
They are also adding ethereum and litecoin option and rebranding thats why people are panicing thinking coinbase is against bitcoin but that is not. There are also other lots of bitcoin exchangers and wallet we can rely on.

Sometimes I really feel this forum should be heavily moderated. So much FUD wherever one looks.

well, i have my coins ready to go just in case.  Gemini just opened my new exchange account today and i've got a few new paper wallets handy.  

I seriously think this is nothing but it is always better to be safe than sorry.  Looking at something that is not backed by some kind of major insurance like FDIC or SIPC, I can see how this can freak people out.  First off having mass amounts of money in bitcoin is prob not a good idea to begin with.  Its way to volatile.  Diversification is the best bet.  Cash, stocks, bonds, bitcoin, gold, and so on.  

Remember the old saying "Pigs get fat... Hogs get slaughtered"  

Could be a very hard job to moderate the FUD out of this forum, it is everywhere.

Who could you trust to do this, what is FUD to one users can be considered telling the truth by another, although it is pretty easy to pick in this thread.