Coinbase problems - Took my money and gave me no coins! 10 days and counting

[gweedo]

Have you already purchased btc before? They place a 30 day hold for your first order, campbx used to/still does the same thing. If you don't like it I would suggest writing your congress people and telling them the regulations are too much.

The hold is so you don't scam them. Remember a bitcoin isn't reversible, but many ways to send USD are reversible. People fail to remember that coinbase isn't an exchange it is easy to forget that. Just like you wouldn't go to a local currency exchanger to hedge yourself against the Euro, it works the same way. You have to use coinbase as way to change dollars into bitcoins, and not to worry about the price. Even though coinbase claims they are like the bitcoin trading software for average people, you also have to work through the tiers to get to that point.

When you hear Brian Armstrong talk, you see that he is creating the first bitcoin bank. A place that will be known to be safe and secure. A place where the average user will just use bitcoins to send overseas with very low fees. After watching his Foundation episode you get that sense even more. When he starts talking about wills and such.

[matreciman]

It has now been 12 days since the purchase of my BTC and still no response from support.

I just wanted to back up your experience with my own. I purchased 2 BTC on Dec 8th. The money was taken out of my bank account on Dec 10th. The coins were supposed to be deposited on the 12th or 13th. The transaction then "disappeared" from my transaction history on Coinbase.com. I opened a support ticket as soon as I realized this had happened.

It's now Dec 18th and 2 BTC suddenly showed up in my account. There has been no response to my support ticket. There has been no compensation for the loss in price of the BTC. I sold/traded all of the rest of my bitcoin when they were much higher priced. I will be forced to take a $600 loss if I try to sell the coins they just put into my account. This is complete BS.

If they can't deliver on time, they need to cancel the order and refund the charges.

(FYI I have been a coinbase member for over 30 days and am instant verified)

I still have no resolution to the case and the purchase was made on December 6th. I don't even care about the lost money(should have been released with the price at $875) I just want my damn money back. Holding my money hostage for three weeks is just not acceptable, especially when I can't even get a response from support.

[accord01]

It has now been 12 days since the purchase of my BTC and still no response from support.

I just wanted to back up your experience with my own. I purchased 2 BTC on Dec 8th. The money was taken out of my bank account on Dec 10th. The coins were supposed to be deposited on the 12th or 13th. The transaction then "disappeared" from my transaction history on Coinbase.com. I opened a support ticket as soon as I realized this had happened.

It's now Dec 18th and 2 BTC suddenly showed up in my account. There has been no response to my support ticket. There has been no compensation for the loss in price of the BTC. I sold/traded all of the rest of my bitcoin when they were much higher priced. I will be forced to take a $600 loss if I try to sell the coins they just put into my account. This is complete BS.

If they can't deliver on time, they need to cancel the order and refund the charges.

(FYI I have been a coinbase member for over 30 days and am instant verified)

I still have no resolution to the case and the purchase was made on December 6th. I don't even care about the lost money(should have been released with the price at $875) I just want my damn money back. Holding my money hostage for three weeks is just not acceptable, especially when I can't even get a response from support.

This thread should help:

https://bitcointalk.org/index.php?topic=341188.0

[X68N]

I have $1,000's of dollars worth of losses from Coinbase, for the very same reason.

I ordered my coins at $1050.  By the time I actually got them the price had dropped to $500.  While going from $1050 down to $500, all I could do was sit there and watch, because when I tried to sell the coins at the beginning of the drop, I realized they had taken the money out of my bank account, but hadn't actually given me the coins yet.  Then when it hit $500 I tried to buy more while the price was low, but they wouldn't let me because my 1st transaction hadn't finished.  So not only did they prevent me from selling after the China announcement in order to mitigate my losses, they wouldn't even let me buy more when the price hit it's low.  Then, to add insult to injury, they later cancelled my second order for being "high risk", even though my first order was successful, came out of the SAME bank account, and was for FIVE TIMES AS MUCH MONEY.

Coinbase = Conbase.  They can take that $25 million and either shove it, or give it back to the people they screwed royally.

sad story, but what came to my mind when i read the last sentence,

Coinbase - All your money are belong to us   -> http://de.wikipedia.org/wiki/All_your_base_are_belong_to_us