Coinbase: a description

[aneutronic]

If you don't like their fraud detection

It's not fraud detection. It seems to be a random "let's piss people off and see who responds" metric.

I dislike Coinbase immensely. You're more than free defend the service but you're wasting your time trying to persuade me of anything in relation to it.

+1

Ageed, I've been greeted by their sold out sign pretty much every time I have tried during a dip for at least the past week.    

I was only trying to purchase 1 or 2 coins each time, pretty lame excuse for an exchange.

[BTC Books]

I'm going to buy a bag of weed for you but I need the money up front. You'll see me again in 3, 4 or 5 days. Maybe a little longer.

When I get back to you, I don't have the weed but I do have your money. I used your pledge, and the pledges of others, so that I could buy a pound of weed and distribute it amongst my friends. If we keep doing this deal, sometimes you might get some weed.

Gee.  So if you were a Mexican weed cartel and you wanted to destroy the domestic (US) weed suppliers, you'd always give people money for their weed, but seldom give them weed for their money.  And then, once you had lots and lots of weed, you could sell it really, really cheap to the mid-level dealers and consumers who had always bought domestic weed... I bet that'd hurt the domestic people pretty badly, wouldn't it?

Sometimes I think that HRU* MPOE-PR occasionally makes a very good point:

Your story needs more Wall Street in it.

*His Royal Unpleasantness

[Severian]

Gee.  So if you were a Mexican weed cartel and you wanted to destroy the domestic (US) weed suppliers, you'd always give people money for their weed, but seldom give them weed for their money.  And then, once you had lots and lots of weed, you could sell it really, really cheap to the mid-level dealers and consumers who had always bought domestic weed... I bet that'd hurt the domestic people pretty badly, wouldn't it?

It's a shame more people ain't seeing it.

[Severian]

pretty lame excuse for an exchange.

The words "clip joint" come to mind.

[BTC Books]

Gee.  So if you were a Mexican weed cartel and you wanted to destroy the domestic (US) weed suppliers, you'd always give people money for their weed, but seldom give them weed for their money.  And then, once you had lots and lots of weed, you could sell it really, really cheap to the mid-level dealers and consumers who had always bought domestic weed... I bet that'd hurt the domestic people pretty badly, wouldn't it?

It's a shame more people ain't seeing it.

Oh hey - entirely off-topic, and just as a matter of curiosity - did you know that one of the principals of Coinbase used to work for Goldman Sachs?  I've always been very reassured to know that the level of professionalism in the bitcoin business community was increasing so nicely.

[Severian]

Oh hey - entirely off-topic, and just as a matter of curiosity - did you know that one of the principals of Coinbase used to work for Goldman Sachs?  I've always been very reassured to know that the level of professionalism in the bitcoin business community was increasing so nicely.

Quite aware of it, thanks. I'm frequently told by some in the Bitcoin community that it's nothing to worry about and that I should just shut the fuck up.