Bitcoin Forum

I did not understand, if  Coinbase bought this company called Neutrino, it means that coinbase is going to put people of your confidence to run this company and this company followed the philosophy of the coinbase. So why are people panicking and coming out of the coinbase?

I have a Coinbase account.  How can I protect myself?

All I used Coinbase for is buying coins and sending them out of there.

Don't use Coinbase as a wallet if you are planning to hold a huge amount of bitcoin and your account can be ban if your source of bitcoin comes from gambling you must use mixer first before you send it to your Coinbase account.

It is fine to use as buying bitcoin but it is not a good wallet because you don't have any access to back up your own wallet and keys/seeds. It's not the same as other wallets that you can fully control over the private keys and seeds.

You did understood it, I see it more of a momentum by people who brought the issue regarding about the 'storage of cryptocurrency keys to Google Drive and iCloud', 'XRP supported by Coinbase Pro' and 'acquistion of Neutrino' as in fact do have a big impact as this three move by Coinbase just happened in just a short period of time. Coinbase is a big player when it comes to crypto exchange that when it do something like this, media will surely create stories out of it.

Coinbase must say something about their plans as they are in the hot seat or else #DeleteCoinbase will succeed.

You can protect yourself from Coinbase if you withdraw it now.  ;D

Do you have something to hide? If not and all of your actions are legal, then I wouldn't worry, there is nothing which will affect you and they won't leak/sell information about you.

BitMaxz
To be fair a lot of people don't care about private keys and etc, all they want is as easy place as internet/mobile banking is. That's why they have so much customers, on another hand you know people who take care of it use their own wallet and better exchange service.

For buying new fresh coins: What is a better option than COINBASE????  (with Fees and other things calculated in there)

Coinbase is fine if it's an easy access for you to buy btc thru them. For other options, you can may search for those reputable ones and check their deposit methods if it's comfortable to you. After buying coins, up to you if you will transfer it on your own standalone wallet or play with the risks at any trading platforms.

Disregarding fees, I preferred those methods that is easy and less hassle for me.

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Following the Coinbase story... What's next....

The fools even accepted XRP LOL.
I can not remember when was the last time I used it. I think I will also need to close my account too if I manage to find my credentials. #CoinbaseByeBye 🙂

Use peer to peer facilities. There are ATMs which I understand not many. There are some exchanges who allows you to buy bitcoin using the fiat. Binance added it recently.

With "new fresh" he means buying them with FIAT, not with  other crypto , right?

ATMs can be found only in a few cities in the world  for now, so it's not an option for 99.9% of the people.

There are 3 other valid exchanges i know where you can buy coins with FIAT :
- Bitstamp ( i've been using it for years )
- Binance ( but i've tried buying with credit card there and  did not work for me )
- Bitfinex ( i have never tried it though )

About buying with FIAT on DEXes, the problem is trusting the other peers and eventual escrows , for example if you are going to buy coins with EUR/SEPA from another DEX user.

Coinbase is becoming more and more centralized. They are trying to track users and support tokens that aren't even cryptocurrencies like XRP while denying people the right to claim some of their Bitcoin forks like BTG. It took months before they gave people BSV and they announced their support for the project before the fork.
My guess is they were trying to gather up as many people as possible to have as much BSV as possible and traded it for a month. They are doing the same thing with other forks.

They haven't bought Neutrino only use them as a service and this is a very bad move because they are very closely connected to the infamous Hacking Team. In other words, Neutrino is a Hacking team. Maybe they made smaller companies to hide identity in this burning times but people will find everything. Especially when it goes about such a controversial company like HT.

Personally, I like to use Coinbase to quickly buy and sell my BTC, ETH, and Litecoins. They are fast, cheap compared to others and I never had problems with them.

I don't think using any online third-party, closed or open source wallet is a good idea. Only hardware wallets and keys on paper (even better if memorized)are safe in my opinion.

Coin Base served it's original purpsoe.   Now, it totally sucks.  period

you are trying to tell this forum that the ATM's are super anonymous and Un Traceable??? YEAH. RIGHT. :D :D :D :D :D :D

Coinbase was always centralized so it's nothing new they are doing. They have stolen millions of dollars from the forked public money  which should have been distributed among the rightful owners. However, this time the case is little different. The acquisition of Neutrino is a serious concern because a majority of the team members of this company are the former leader of a hacking team infamous for monitoring prominent personalities.

I too agree with the view of OP as the unethical practice of Coinbase has now come into broad daylight. Alone we can't make much impact because Coinbase has over 10 millions of clients in their pocket. But at least we can save ourselves from being tracker by a group of hackers by closing our accounts. I had been using their service since last two years without any issue but I think it's time to move on to something more robust!

not really new news.

just check out the owners portfolio
https://dcg.co/portfolio

cambridge blockchain
Chainalysis
civic
cognito
Elliptic
norbloc

I hope they will find out how to solve this problem. Many people can suffer from that.  :-\

This. Coinbase has done more for crypto adoption than pretty much any other platform, but they've done so by being centralized and easy to use.
I thank them for introducing so many to cryptocurrency, but recommend everyone to stop using them as soon as they know what they're doing.

they done alot 2012~2015
much like bitpay 2011-2015
but then the whole regulations KYC, tax reporting, transaction limitations. policing its own customers became a big deal

people need to learn they are only gateway services in and out of currencies. and not to be viewed as the asset/crypto system itself

Great misfortune for coinbase users! And using Coinbase website and App is becoming an even greater security risk then before.. Now they have the knowledge and expierence inhouse to hack you!   I have no confidence in any stock market! Physical Wallets that are the best.

That's true because I'm using coinbase as buying and selling of some funds like bitcoin ethereum but I'm not using as a wallet because its dangerous much better to use a wallet with private key. And I think coinbase need to explain about deleting accounts.

Pamoldar
"Fools" accepted coin which is third on coinmarketcap and sometimes was keeping second position which means it was after bitcoin down to bitcoiin and over to ethereum, this means something. It's business and they want to attract more people, don't care about "support" of coins.

And now, guys who mentioned ATMs. At first I want to say it has nothing to do here and then, ATMs have so huge fees, it doesn't worth to use it, you can check fees yourself. On another hand yeah, it's pretty anonymous if you won't directly enter here with lights on your face and won't pay directly from your main wallet.

Taking chances with coinbase or any other exchanges for your funds is literally insane in nature.Why not have wallets that you have your own private keys it is like having your own bank. When it comes to exchanges I prefer using decentralized ones dex bisq and others to name a few.Sooner or later people will realize that privacy will  be their main priority specially in dealing with their funds and transactions. For privacy and anonymity must be our right and not just a privilege.

Those are 3 critical indicators that Coinbase is pulling a "Circle" on the Bitcoin community. Everyone know Ripple is a Bank puppet and now they bring that into their service. They also know the history behind Neutrino (Hacking team) and their previous involvement with Mallware, but they still "trust" them.

They should not be surprised when the Bitcoin community starts to turn their back on them, because they are turning into the service that Bitcoin was meant to be replaced. <Centralized service that exploit their power and their users and also contributing to mass surveillance by governments and private individuals.>  >:(

I understand that buying bitcoin using fiat is a hassle but things are improving a lot. We are early adopters, there will be a time when everyone will have bitcoins and everyone will use it to exchange things in their daily life.

As an early adopters if we can overcome the current barrier then we will be able to see another generation who will not even have any idea that how hard it was for us to buy big chunk of bitcoins.

No one is saying the ATM's are super anonymous. How did you come up with this idea LOL

They do not care about support, they care about business that's all. It us the few people who care a lot for a decentralized world. I hope some day the entire world will vouch for it.

It seems to me that this tendency will continue to gain momentum among other major platforms, which contradicts the idea of the Blockchain. We don't need that, let it be deleted!

The problem is that Coinbase is the first choice of every crypto noob,when it comes to creating a crypto wallet,buying btc with debit/credit card and cryptocurrency trading.A lot of noobs will be screwed by Coinbase,that's why we should spread awareness about what's going on.

Am not surprise at all because coinbase a centralized institution users should not expecte privacy of their information on the exchange because it been own and control by a central authority which is answerable to an individual, in my personal view the move by coinbase to Neutrons with leadership structure with Hacking team it then means users are no longer safe. My personal opinion any way.

Nope. Nothing to hide by me BUT......... i forsee them using transaction BUY info to report it to the government for reporting TAXES.. If I am not mistake the whole point of Bitcoin is to be your own Banker with your OWN currency.  I think CBase is going to start reporting peoples buys to the Tax Office!! ??? ??? ;D >:(

even still, i never bought that much coin, BUT.. if Bitcoin skyrockets in price, then what?  I'd be looking at hefty HEFTY taxes.. :'( :'( :'( :'( :'(

I think the biggest demographic that holds coins on exchange are traders, they don't want to move coins in and out of exchange every time they want to make a trade, so they just keep coins there, like they would on a stock exchange site. This may make some sense for those who trade many times per day and with not very big amounts, but treating exchange site as your savings account is just dumb, and people who do this don't understand what cryptocurrency is about.

I wish I could say I was surprised at people deleting their coinbase accounts, but I’m not as this was always bound to happen sooner or later. I know Coinbase is everyone’s first choice even I had a account there, but as soon I realised the downfall of having my coins on a exchange I stopped using it. Also it’s pertinent to note that this movement shall hit coinbase hard, and serves a timely reminder why one should not hodl coins in an exchange.

I've been saying for years - Coinbase care only about profits. They couldn't give two shits about their customers. Just go to reddit and look at the number of people complaining Coinbase have locked their accounts/funds without explanation or communication for months on end.

They were caught red handed in a massive insider trading scandal when they launched BCH support. Their customers lost millions while they profited. Completely unethical.
They deliberately and completely ignored their own Digital Asset Framework (https://listing.coinbase.com/policy) when they launched support for a bunch of shitcoins like LOOM, DNT and MANA. It then emerged that Coinbase's top investor was bag holding tons of these trash coins. They literally ignored their own policies so their top investor could dump these trash coins on their customers.
Now they hire people who sold tools to help oppressive governments around the world control their citizens and abuse human rights, again showing that they care not at all about people/customers/morals, and only care about profits.

There are far better exchanges out there. Don't use Coinbase.

The only way for Bitcoin to be adopted globally without these companies that put a foot in each world would be through a revolution. A revolution is when you pull down the pillars that sustain one environment to give way to another. This revolution would have to be made using weapons or cyber attacks.

Honestly, I do not believe that.

So it is useful for greater adoption of cryptocurrencies that we have companies with facilitated transit in both worlds. This should be seen as one of the steps towards a shift from the old world to the new. If you are already fully involved with the cryptocurrency facilities and you do not see any major problems in distancing yourself from the requirements imposed by governments, do not use those companies that have one foot in each place.

But think for people who are still in the ancient world and unsure of passing through the new. They need security and legality in their actions. Coinbase does not want to be the only option. They want to be the first choice.

holy cow :o :o :o :o :o

By sending them out of there do you mean that you send it back to some other wallet other than coinbase? If yes, then you are totally fine. Just don't store your coins on coinbase for long term. Don't even think about storing large amount of coins even for short term. Remember, unless you own the  private keys of the wallet, you are not the owner of the wallet.

As a previous customer at CBase I bought coins, and my Financial Info and card information are CONNECTED to their website... How Can I delete my debit card info from Their WEbsite??? I do not want it in there. NO MORE

Frankly speaking, the reality of this whole Coinbase is a matter of choice and not a decision one can decide for another. The only protection that you can give yourself now is gently move all your fund to another Exchange for proper protection and privacy. I did likewise when i was hit by their KYC stuff and later got account Blocked.

I have no funds stored at Coinbase wallets. I am more concerned about my information that they have about me. My bank account numbers.

From what I see I didn't knew about many shady things Coinbase was involved.

How is this possible that there was no buzz in media about this insider trading and other facts @Oeleo is talking about?

I am following crypto related news on daily basis and have no clue about many things. Like I said there was nothing in media.

Strange don't you think?

Uhm... AFAIK, ATM's CCTV cameras can see in the dark using infrared sensors (which why CCTV videos at night were black&whites).

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Why is this an issue to them?
It's a centralized service which should abide by the law and protect its security, they are doing it for years and didn't even thought about the fact that it's been relatively the same all along, just acquired/partnered with something that will do their usual job independently.

People just need to learn that services that requires KYC/AML will always be informed about their crypto income and expenses that passed on it.
There are more option to buy and sell cryptos, coinbase is just one of them (just use it for "moderate" Buy or Sell).

#DeleteCoinbase hashtag on Twitter is still grabbing a lot of attention from the crypto community.

I see that Coinbase don't comment on this and I don't know if this is the right decision.

This could influence this company in a really bad way. Don't forget that this is not the first #Delete... campaign and they achieved astonishing success.

Tried to find any comment from Coinbase but couldn't. Maybe they think that quiet game will stop the fud. I don't know.

Despite all problems when it goes to buy and sell BTC, ETH and few other Coinbase were my favorite service.

Now I will have mixed fillings when try to use them next time.

You can't, really. You can close your account, and you can email their support and ask them to delete all the information they hold on you, but you have no guarantee that they won't just say they've deleted it but actually continue to store it. Given how generally shady Coinbase's behaviour is, I think it is more than likely that they will continue to hold your information.


The articles are there, they just maybe aren't widely circulated because Coinbase is so popular, and users generally don't like thinking they are using a scummy exchange, and prefer to turn a blind eye to the whole thing. Just Google/DuckDuckGo Coinbase insider trading or Coinbase Digital Currency Group and you will get plenty of hits confirming what I'm talking about.

LOL
I forgot my old phone number now imagine how old my Coinbase account was. The reality for me now is that I can not close this account since I can not recover it anymore.

May be I need to find someone who might have knows my old number.

https://i.ibb.co/brb3yWy/49990979.png

IIRC, Coinbase (or any other licensed/registered exchange) legally isn't allowed to delete all user data they store on their servers.

The thing with verifying yourself at whatever exchange is that you should consider your private information to be compromised for ever. There is literally nothing you can do about it. Even the exchange's word that they did delete all your data is worthless. In case of Coinbase, they have violated their own terms to list XRP, and they have participated in insider trading more than once, so that's shadiness on top of more shadiness.

Down with Coinbase.

LOL.  alrighty then.  its settled AND i think we can find a new place to bash now?

Yes. There are some more on the list that can/will be next. Blockchain.com for example. Redundant shithole. Promising Segwit upgrade rollout early 2018, and right now we still don't have it, and probably never will unless they're on the brink of collapsing.

BitPay. Another service that doesn't upgrade to Segwit to allow people to enjoy lower fees. Instead, they now require Bitcoiners to pay an additional fee if they want to settle payments.

i sometimes get worried about what has happened to this community. it seems like majority of people are newbies with their heads in the sand!

the only thing that this news tells me is that all these people who are these days over excited and are closing their coinbase accounts are newbies who had no idea what they were and are doing. nothing has changed about Coinbase, the only thing that has changed is a social media drama campaign that is hyping them up to follow it like a sheep!

when you use Coinbase which a US based centralized service with a history of reporting every single move of their customer to multiple 3 letter agencies you really can't be surprised when they expand their services to other things like blockchain analysis and acquire teams like those hackers,...
your surprise is like jumping in a pool and then being surprised about why you got wet!!!

I won't be deleting my account because they offer me BTC deposits and withdrawals without verification. Last year it was said that they will force everyone to verify themselves, but I can still freely use my account there.

A lot of people use Coinbase to move value instantly within their ecosystem, and as long as that is the case, most people will continue to use them. What alternative is there to Coinbase?

I'm sure that by the time people start fomo buying again they will sign up to Coinbase and start from scratch. If there were alternatives that were legit better, ok, it makes sense to leave, but there aren't for most people here...

It all comes back to due diligence, and it is the same pattern of behaviour we see with ICOs. People see some piece of advertising, and are then completely happy sending their documents, their hard earned money, or both to some anonymous stranger after doing exactly zero research or reading about the project, and then act surprised when they get scammed. This is just the latest in a long line of persistently shady activity shown by Coinbase over the years. I would suggest anyone closing their account with Coinbase does some research before jumping ship to a new exchange.

The only glimmer of hope here is for EU citizens, due to last year's GDPR laws from the EU meaning companies are legally required to delete your data on request. Coinbase might still ignore the laws, but there is at least the incentive of avoiding a hefty fine for them to actually delete your data as requested.

Beside diligence, I'd personally think most of the people are blinded by the volatility of the markets. I mean the amount of profit could be given by the markets is tremendous. They see cryptocurrency as a way to get rich quick scheme, while the fact is beyond that. Especially on the enthusiasm phase on the latest bull run, a lot of people are barely knew about cryptocurrency without having any solid understanding and foundation, and they are blindly jumping on the cryptocurrencies market space.

I don’t think I’ll delete my Coinbase account, but I don’t keep a lot of money there because it’s always a risk. We must remember that storing funds in the account can lead to their loss.

Wow. Here a couple of highlights I found browsing twitter yesterday.

Coinbase's head of sales Christine Sandler said that Coinbase decided to buy Neutrino because their current providers were "selling client data to outside sources". (https://cheddar.com/media/coinbase-adds-support-for-ripple-s-xrp-despite-regulatory-uncertainty)

Coinbase are preventing users from closing their accounts (https://twitter.com/ArminVanBitcoin/status/1101475900934311938). They are also saying they cannot delete data within the GDPR legal limit of 30 days because of the "complexity of your request". How the simple act of deleting your data is "complex" is beyond me.


Yeah, at this point, it has nothing to do with your funds. If you verified with Coinbase, your identity is at risk. They have admitted to selling your data to outside sources, and are now illegally refusing to delete client data.

Honestly, if you are a registered member on Coinbase and have agreed to verify with them I think the damage has already been done. Chances are your data is already in the possession of another company, so even if they were to start deleting the data I am afraid it's too late for most. I also have no idea how the EU is going to enforce its policies unless someone can prove that Coinbase has been illegally selling the data and takes it to court.

Yes, I know that when I will search in Google for #DeleteCoinbase there will be plenty of articles.

I wondered why I haven't seen anything in Google news or other crypto related media services?

I am using Cryptopanic which is always on and with my filters set up so I see all important news and there was nothing to find in the first days.

Today I see already articles popping up on Cryptopanic and other services about Coinbase so it was just a piece of very fresh news, I assume.

There are tons of reasons why that may be the case. But how has the amount of coverage a given topic gets something to do with anything besides the topic being hot or viral? It certainly doesn't make the topic any less factual. Just because terror attacks in the east get next to no coverage in Western media doesn't mean they're not happening.


I don't feel like the safety of your assets is at the core of the (current) problem, but rather the safety of your personal identity.

both of them are current problems. in fact whenever you give up control over your private keys, it means that you are putting your "money" at risk because now Coinbase can do anything they want, from running away (worst case scenario) to simply closing your account because they didn't like your activities!
the privacy (personal identity) part is the obvious one since the service is located in US and is operating under US laws.

You are totally right and I was in shock when my friend wants to buy something from an online shop (one time when he was in my home) and after a few clicks, he was ready to fill his credit card number on a random page totally without any due diligence.

I was sitting next to him and watched closely his steps online and I don't wonder that so many people get scammed. This guy was already scammed a few times and still, he hasn't learned his lesson.

When I asked him "what the hell he is doing?" he answers that "this is only 50 bucks and he will start chargeback if something goes wrong".
I tried to tell him how to do it correctly and check such an online shop but he seems not to be interested and changed the topic after a few tips.

Something I just can't understand because I would have a really bad day if I will be scammed. All these headaches around the chargeback and of course attempt to contact support from the scammy online service cost only additional time and efforts. This same time he could spend to learn how to be safe online.

All these credit cards, PayPal and insurances, made people lazy and secured that no matter what they will get their money back.

As for now, I was never scammed online because I am paranoid when it goes to due diligence and I would spend a lot more time checking the shops as looking for the best deal.
Additionally, I like to know the in an outs and this the main difference between me and my friend.

Third-party custody is for obvious reasons (no need to school me on those reasons, thank you very much) always a problem but is something you have to take into consideration if you're planning on using any third party service that involves exchanging your cryptocurrency. The premise of this topic is the #DeleteCoinbase controversy and third-party custody is not the reason why the #DeleteCoinbase hashtag started circulating over the internet in the first place (despite it being a big issue when using these services but that's besides the point here).