Bitcoin Forum

Considering the big controversy around Coinbase, how do you feel about the movement? I haven’t really found anyone protecting them with good arguments, so i’d love to know if anyone here has an opposing opinion and think ‘deleting coinbase’ is too far?

I only used Coinbase once to buy some ethereum. Absolutely no problem after the KYC process to buy the ethereum , but an absolute nightmare to get the ethereum out ! Took almost 24 hrs to send from Coinbase to an offline wallet. So many emails sent and a nights sleep lost! Never again. Has also put me off using other exchanges . IMO - avoid .

Coinbase is not the best option for non-USA customers and I prefer to buy on Kraken rather than wasting time on Coinbase. KYC procedure is simple but they keep asking perfect resolution for the same documents. It took 3 days to pass KYC but I successfully withdrew by bought crypto. I don't advise to use this exchange to new users.

I think it's important to remind places like Coinbase that they came up off the back of something that stands for pretty much every single thing they don't, but I'm sure many of the other companies in the shadows like Circle and Digital Currency Group are engaged in vastly more disgusting things that they're not telling us about.

Ultimately convenience means more to most than principle so it's not going to make much difference. I hope it keeps them on their toes to a reasonable extent all the same.

I don't think somebody in their right sense will ever disagree with the recent action against Coinbase. My account with Coinbase was blocked base on the KYC I refused to succumbed to and never regretted been blocked either, its good for them to be sanction.

I do agree that a lot of companies may be a part of way worse things than what happened with Coinbase. I feel like they will definitely learn from this, however i don't know if I want to trust them after this incident.

I do not have any idea about "deleting coinbase" but do you think it will be good to all people who use coinbase? I also have coinbase account and sometime I used because we can buy some altcoin by just using our credit card. Do you really think that coinbase will deleted?

I think think everything they’re about goes against what Satoshi intended for bitcoin. I personally don’t use them & won’t in the future either.

You can not "delete" coinbase. You can suggest a different exchange way.

What do you expect? Our data is not safe with them as they admitted that their previous tracker providers have sold customers data without their authorization. How the hell did they allow that to happen?

And now acquiring Neutrino, another company with a shady past of selling information as well, so they make things worst then. So who will trust Coinbase? So it's up to us, whether to still used them and hope that your data will be not leaked someday.

That's actually one of the few good movements I would say, cryptocurrency in no way should be traded in an exchange that is fully centralized, I mean if you have access to other known exchanges I don't know why would you use this exchange anyway ?(maybe there are some restrictions for using other exchanges in some countries that I don't know about), anyhow there are many way better options in exchanges to choose from right now that even have better liquidity.

This is bad news. However, I don't think deleting Coinbase is the right move here especially when many investors have left the cryptocurrency market already due to the 2017 crash and the prolonged bear market.

Coinbase needs to reevaluate their procedures and people need to be more careful while using these centralized exchanges.

I do not see any controversy. Coinbase deserve it. They do not care about cryptocurrency. They only care about their profit. But let's keep it aside. It went extreme when they admitted that they sold the customer data. Now are your okay with that?

#DeleteCoinbase worked for me.

Coinbase lately have turned into night mare for traders though but I don't think you force a fish to swim their water. They have given room for other exchanges to take the lead and that is their story. Bad customer service is a way to bad management.

Of course they can re-evaluate their process but the thing is that the damage has been done. And we all know the crypto traders is hard to please, one mistakes you make against them will etch in memory and it's possible that they will left Coinbase and look for other alternatives.

Perhaps I was one lucky person because I chooses not to open an account with them. Otherwise I will be mad as hell if I found my personal data being sold out.

Coinbase might be having a lot of issues with their platform recently and the way they handle things are somewhat icky to be honest, but I don't think they need to close the doors fully, just reevaluate what are they doing and hopefully get their shits resolved. Acquiring a team that has notoriously been selling information and data of people and god-knows-what-info they sold doesn't help their current situation in any way; it's just making things worse for them.  I say restructure their organization and fix what needs to be fixed, and maybe, just maybe things will turn out good.

And this should be moved into Service Discussion (https://bitcointalk.org/index.php?board=85.0), too.

I mean, let's not forget that Coinbase is a business, not a charity. Them "only caring about their profit" is something to be really expected from a business. Same thing with the KYC controversy with ShapeShift. People forget that these services exist primarily to make money.

They have already decided to remove the hackers from the new team so i don't think there is any further reason to support this movement, it succeeded already

They are what happens when something goes global and profitable in this big world - not ideal if someone remains "awake" and even despicable. But on the other hand... enough spite, let's focus on healthier mainstream growth elsewhere
There is enough forbidden fruit for everyone BTC

So yes, just delete it if it doesn't serve you but leave those who still use it in peace. Simple.

Which is something natural. Some traders, especially crypto/privacy geeks, tend to forget the world is run by business. Quite surprising, since what they do daily is... double their money through investment and trades, they make good business. They can move to different services but expecting all big players in crypto to risk their well-established businesses because *you* want to do good business + profit from their risks... well, this can't and won't last forever and crypto landscape is ever-changing

I really couldn't care less about anything that Coinbase does.
I've never used them and will never use them.

Now, I do think it's an incredibly stupid idea to encourage users to save their private keys in the cloud.
Then again, there are people who just keep their coins on exchanges anyway, which is practically the same.

I don't know, I just don't really participate with these Twitter hashtag movement thingies, so don't really have an opinion on it.

I first had to use them, it connects my faucets and earns. They all sent new identification for users to past or KYC. That was not the big downfall. Then suddenly I must connect my bank card in that it converts it to my bank. This caused a whole new verification and many users quit as a result. I did.

Exactly, I don't know if this so called Twitter hashtag will bring some effect. If you're really not comfortable then don't trade in that platform simply as that. I heard reports that Coinbase took a massive hit on this negative publicity. But at the end of the day, business will continue as usual and I'm sure they learn a expensive lessons on hiring company to handle their KYC procedures and a throughly process should be put into place to avoid this incidents in the future.

I don't see anything good in following these sensational events. I look at how an exchange or service works for me, and as it is right now, Coinbase works just fine and there is no reason to ditch them.

Overall, an exchange (doesn't matter which one) will screw you over eventually anyway. It's just that people's bias against Coinbase makes it easier for them to follow these events, but then again, it helped Coinbase wake up, so it had effect.

It's basically the same as with the proof of keys event set up by Trace Mayer. I didn't have funds on any exchange, but if I had I still wouldn't withdraw it because there would be a good reason for these funds to be there.

I never leave funds on an exchange when I don't have a position open.

Most people don't even care about privacy, they just want fast service that is easy to use.  I'm sure Coinbase will continue to do just fine with their business. The unhappy customers tend to be the ones that complain the loudest.

Do not delete.
Ignore will be better. It will hurt them more.
A movement where their customers starts withdrawal and then just ignoring them afterwards.
Never to come back again. ;D
That would be fun. They are still existing but yet no profits are being made. ;D

Just thinking about it makes me laugh already.

It didn't work last time and it won't work this time, either. It's just a little Twitter drama among the usual suspects and their limited followings. This blunder will be forgotten relatively quickly. Most of Coinbase's market will never think about this stuff.

I'm also slightly amused that people are acting all surprised and insulted. This is par for the course when it comes to Coinbase.

Wow that sounds like a headache. I am sorry to hear that, good thing your story can help others make the right decsion though

I think, coinbase still has benefits for us and has a small negative effect, when the coinbase problem can still be overcome, then we don't try to make the hashtag  #deletecoibase .

and it's not professional, and now we must always see the development of progress coinbase. is it still good to use or not?

I would have to agree to get rid of using coinbase because of the whole neutrino news and allowing them access to their entire customer database.
It is just like giving the keys to thieves of a home they want to rob. :-\
This is just not right in the current climate we are in with all these exchanges having their customers funds being ransacked right underneath these companies noses such as quadrigacx and cryptopia just to name the most recent ones.

Deleting Coinbase would not help with anything since there are multiple exchanged that are involved in shady activities, while Coinbase was probably the first one to be discovered. I think everyone who was disappointed about what Coinbase did should stop using their platform and this way they are going to deleted themselves alone after declaring bankruptcy

Although coinbase has some stigma surrounding it, as well as a long lead time from wire>coin>ability to send coin, I have never had any big issues with coinbase. They are pretty fast with transactions, offer instant transactions for coinbase to coinbase, and have never cheated me out of anything.

Vote with your wallet. If you don't like Coinbase, don't use it. I have never used it, and don't have an account with them. You have the freedom to take your business elsewhere, competition is the answer not State coercion.

idk what causes that issue but i do also have a bad experience before on coinbase   . thier service becomes bad because they ask for a verification ( which they dont have before )  that results for me to delete my coinbase wallet   . i switch on blockchain because blockchain is less hassel  and most importantly it is easy to use compare to coinbase  .  i agree on the propaganda  , they should delete coinbase because it sucks too much .

I dont have any idea about this topics but as far see the news, coinbase has been one of the trusted bitcoin exchange in to other major altcoins  they are working worldwide even partnered with banks and major credit cards. If coinbase will shutdown surely it can affect bitcoins price bigtime.

Which is also our duty as costumers to stop using services which are scammy and are basically selling your information around, putting you into flagged lists if you deposit the wrong set of bitcoins on it on your name, and so on. It is really insane that anyone would be using Coinbase in 2019. There's no point. They refuse to answer about many pressing questions.

Call me when Brian Armstrong answers these:

https://pbs.twimg.com/media/D04FkevXgAAjwA5.png:large

i strongly disagree with all forms of social media drama like this one or the previous one (proofOfKeys). they are all nonsense and only add drama in my opinion.

as i said in the other topic in Exchanges board, you shouldn't have opened an account with Coinbase in first place IF you wanted to remain in control of your private keys and your privacy. but the day you opened that account you gave both up and now you can not complain about why they are doing what they are supposed to do. that is the nature of their business and being located in US doesn't help that either.

Some people don't seem to get the context behind this (this has nothing to do with privacy or whatever), so here's a quick overview:

https://www.coindesk.com/bitcoin-delete-coinbase-neutrino-crypto

As for my own views, I think consumers exercising their right to boycott is a good thing for the market. If movements like this get enough traction, other companies may think twice about pulling off sleazy business decisions. Fire away with those hashtags!

I personally disagree with their acquisition, but I don't use Coinbase and had no plans at all to use them in the future anyway, so it doesn't concern me too much.

That's fair. Though I'm personally more of informing the user on what they're giving up or risking when using Coinbase so they could decide for themselves if they want to continue on, as opposed to just telling people to not use it at all.

The thing is, I'm pretty sure we aren't the target audience of Coinbase. They're targetting those people who just saw a Coinbase advertisement then simply buy bitcoins through the advertised link; basically the people who aren't fond of doing research.

Unfortunately they can simply just not answer it just because they don't want to. Businesses that really aren't transparent is very common especially for those with a huge monopoly on certain niches (e.g. Google, Facebook, etc).

It did have an effect to coinbase, on this blog post (https://blog.coinbase.com/living-up-to-our-values-and-the-neutrino-acquisition-ba98174cdcf6) it was mentioned that coinbase fired some of their neutrino employees.

This is actually accurate, a year ago when I asked my friend to repay me in bitcoins he was using coinbase. I could've told him to use a different exchange but the transaction is already done and afaik that's the last time he used a bitcoin exchange.

They are a big exchange but them shutting down won't affect the price in a big way. They're top 40 in the exchange rankings but their combined bitcoin trading volume is 0.41%.

I am the kind of person that would not throw out the baby with the bath water. Coinbase made Bitcoin adoption much easier for a lot of newcomers and we should not ignore that. They also have a perfect track record so far, when it comes to security, so they are doing some things well. <Many other big exchanges had major losses when they were hacked>

Coinbase is under a lot of pressure from the US government and regulators to prevent money laundering and criminal activities on their platform and they have to abide by these rules or they will have to close their doors. Let's cut them some slack and also focus on some of the positive things that they are doing.  ;)

I choose for abstaining and not giving my vote for that ;D
I never use Coinbase to buy or sell coins, but once I use Coinbase in the past to save my bitcoin, but after I don't feel comfortable with the dashboard, and I found the other wallet to save bitcoin, I move all of my bitcoin from Coinbase to an offline wallet.

I think we could let them online, but we don't need to use them anymore. Once they find why their customer is not using them, they will figure out the mistake (if they really concern with the customer). But if not, then they will be abandoned, and perhaps in the future, we only see their name as a legend ;D

I am not asking them to do charity but when they play with my personal data then that is something I stand for. I did not agree with then to sell my personal data.

In a business trust is very important.

I have never used them anyway.
Service is not supported in my country I don't know until when.
I also don't like their approach of handling things such as listing coins, so there is no chance that i will ever use them as long as exchanges like Binance as still alive.

Haven't used Coinbase as an exchange but used it as an online wallet. It's really a good option for sending payments to others in my opinion. So I kinda disagree. I don't want it to be deleted. Just my personal opinion. Controversies happen, so there will be mixed reactions. And I'm in favor of Coinbase.  :)

Im not making any vote yet ive been using coinbase but not hating it that much where it should be deleted.As a crypto user we do have our own choice on which platform
we would use up in terms of wallet.If you dont like coinbase then you can simply skip and find another one.If you do plan to use it then you should be aware and be ready
on the things you are involving on.

it is too far, they are unique in terms of easy to use semi exchange, there is a reason they are most popular or almost most popular service
they did many mistakes, they were almost shady many times, but still they beat their opponents by far

I mean, it's completely up to you if you still want to use it regardless of the controversies, but take note that they're selling your data. But if that's fine for you, go ahead. Also, using Coinbase as a hot wallet is probably ever so slightly understandable, but I hope you aren't keeping much bitcoin on that wallet.

Is it true that Coinbase has contributed to the so called "fiat leak" by making it accessible for noobs to buy some coins, but it is also true that most people using Coinbase probably don't even own, im not saying a full node, im saying something like Electrum, they just keep the coins on the exchange and that's about it. Those people probably couldn't care less about the fact that Brian Armstrong is doing shady stuff like selling data, speculating with forks , hosting shitcoins, and so on.


I understand the pressure to apply strict KYC but there's other shady things Ive listed. What we need is laws being passed to protect us from all the clusterfuck that is the law world dynamics with Bitcoin. Until that is clear, stay 100% on BTC and don't sell a single sat. If anything, they are incentivizing people to never leave once they join.