Beware of CoinBase

[SpanishSoldier]

LocalBitcoins and Coinbase

Coinbase neither prohibits nor endorses our customers’ lawful use of any third-party exchange service. Nor do we necessarily prohibit our customers’ sale of bitcoin in peer-to-peer transactions for personal, non-business use.

Coinbase customers may not, however, use their Coinbase Accounts to engage as a business in the exchange of virtual currency for fiat currency, funds, or other virtual currency. Coinbase reserves the right to limit your account use if we detect activity which constitutes a violation of this policy and/or our User Terms. We further reserve the right to limit your account use if your account is associated with high-volume activity inconsistent with personal use.

Source: https://support.coinbase.com/customer/portal/articles/1905681-localbitcoins-and-coinbase

In News: Coinbase Is Tracking How Users Spend Their Bitcoins

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[arlekyn13]

So this is the price users have to pay for using their "regulated" exchange/wallet? Welcome to the "paypal" of bitcoin

[NyeFe]

So this is the price users have to pay for using their "regulated" exchange/wallet? Welcome to the "paypal" of bitcoin

It's either this for them, or become the next BurtW

[Bit_Happy]

So this is the price users have to pay for using their "regulated" exchange/wallet? Welcome to the "paypal" of bitcoin

CoinBase deserves credit for helping Bitcoin grow stronger in the "real-world". They have the right to decide how to deal with regulations and users have the right to use them or look for other options.

[LiteCoinGuy]

bitcoin needs this kind of service but you always have a choice - use or not use that service.

[Tsquared]

So this is the price users have to pay for using their "regulated" exchange/wallet? Welcome to the "paypal" of bitcoin

CoinBase deserves credit for helping Bitcoin grow stronger in the "real-world". They have the right to decide how to deal with regulations and users have the right to use them or look for other options.

Completely agree. They provide a service that people can use or not, and they have every right to choose who can use their service based on whatever criteria they choose. People have the right to whatever opinion they have about coinbase, but to suggest they are somehow being unfair by establishing rules around acceptable use seems silly to me. There are many people on this forum offering services, and they often deny access to their services based solely on account age or trust rating, so perhaps these are centralized and regulated services also, and don't deserve to be trusted?

TT

[manselr]

The problem should be solved if you withdraw your coins and store them yourself, if you dont want to deal with the regulations.

[Enjorlas]

If stories get out that Coinbase is abusing its arbitrary rules, people will simply take their money to a different exchange. That is what makes the free market great.

[amiryaqot]

i think so risk involve to get limited at coinbase with their regulation so as online wallet they are not safe option to store btc into that wallet, blockchain wallet is good to store online.

[Jimmy Wales]

bitcoin needs this kind of service but you always have a choice - use or not use that service.

Yah... I prefer LocalBitcoins.com or its new variant 100bit.co.in, where we dont have to even keep our funds deposited. But, it is all about personal trust & choice.

[avatar_kiyoshi]

The problem should be solved if you withdraw your coins and store them yourself, if you dont want to deal with the regulations.

Agree. Use for buy/sell only Don't store your coin to exchanger although that exchanger is popular. but that's all your choice

[crazyearner]

I only use localbitcoins due to problems I had with Coinbase and I will never use their services again after the amount of problems  I had confirmed  my account and how long it took to do so. After that I had funds in my account then when I tried to cash out they suspended my account blaming me saying my ID and documents where incorrect  yet submitted them latest bills and ID. Am just glad it was not for a massive amount and eventually got this sorted out with them and once payment had been sent, since I have not used their services.

[SpanishSoldier]

So this is the price users have to pay for using their "regulated" exchange/wallet? Welcome to the "paypal" of bitcoin

CoinBase deserves credit for helping Bitcoin grow stronger in the "real-world". They have the right to decide how to deal with regulations and users have the right to use them or look for other options.

If we apply your logic in the controversy of Net Neutrality, following comes out...

Telecom companies (Read At&T and Verizon for USA) have done a lot for spreading the internet. They have the right to decide which site to load first and which to load slow. Users have the right to use them or look for other options.

p.s. If you dont know what I am talking about, check www.savetheinternet.com

[Mike Christ]

So this is the price users have to pay for using their "regulated" exchange/wallet? Welcome to the "paypal" of bitcoin

CoinBase deserves credit for helping Bitcoin grow stronger in the "real-world". They have the right to decide how to deal with regulations and users have the right to use them or look for other options.

If we apply your logic in the controversy of Net Neutrality, following comes out...

Telecom companies (Read At&T and Verizon for USA) have done a lot for spreading the internet. They have the right to decide which site to load first and which to load slow. Users have the right to use them or look for other options.

Yes, that's correct.  Would you like to follow up with a point?

[odolvlobo]

We further reserve the right to limit your account use if your account is associated with high-volume activity inconsistent with personal use.

I was banned for that reason. Keep in mind that high-volume activity is apparently only a few thousand dollars in a month.

[QuestionAuthority]

Welcome to the fully regulated legal Bitcoin. Prepare to be unimpressed.

[Jybrael]

Well a lot of people use coinbase and many of them have never encountered any problems...could it be just a error on their part?....well we will have to just wait and see...

[Beliathon]

Coinbase basically has a monopoly over the US bitcoin market. There may be 1 or 2 other options like Circle and CampBX but their volume is limited to a fraction of Coinbase volume. I wonder if an antitrust lawsuit could be filed against them, why is there no real competition in the US?

This is absurd, there's no monopoly it's just the market is too young and small for competitors to emerge on the same scale and legitimacy as Coinbase. Give it time.

[Jimmy Wales]

Coinbase basically has a monopoly over the US bitcoin market. There may be 1 or 2 other options like Circle and CampBX but their volume is limited to a fraction of Coinbase volume. I wonder if an antitrust lawsuit could be filed against them, why is there no real competition in the US?

Circle & Gemini are coming up as well as LocalBitcoins competitor 100bit.co.in. Not to mention BitQuick.co also operates in US market. CoinBase has enough competition there.

[Hazir]

Coinbase basically has a monopoly over the US bitcoin market. There may be 1 or 2 other options like Circle and CampBX but their volume is limited to a fraction of Coinbase volume. I wonder if an antitrust lawsuit could be filed against them, why is there no real competition in the US?

Circle & Gemini are coming up as well as LocalBitcoins competitor 100bit.co.in. Not to mention BitQuick.co also operates in US market. CoinBase has enough competition there.

And it is a good sign as we are all waiting for more strong and secure bitcoin businesses to open. For now I can see that coinbase is dominating market quite heavily and therefore they can set rules as they please because there is not much alternatives to good services of coinbase. I think that when Gemini will launch there will be huge competition going on between them and and coinbase and we won't see any questionable rules anymore.

[cryptosky]

I have never had any reason not to trust coinbase, I think it is one of the most reliable bitcoin companies

[kingcrypto]

I think their very objective is to avoid legal problems unless the things they do doesn't like to its customers

[Ron~Popeil]

I use circle or local bit coins. Coinbase is the paypal of bitcoin. I use bitpay for business transactions.

[Lexi Price]

I use circle or local bit coins. Coinbase is the paypal of bitcoin. I use bitpay for business transactions.

I want to be done with coinbase and circle but not sure what the options would be. Granted, this is the first real issue I've had and I'm not a trader so I'm not dealing in high volume transactions...my issue is when I'm ready to move my money, I have to wait on them to get around to it.

My question is if there's an option with bitpay, say I set up an option on my own website, my merchant account, and just 'buy' some widget thing for whatever the amount is I want to buy bitcoin, do it through bitpay and then move it to a wallet from bitpay. Would that work or would they pitch a hissy fit? Or would it even be worthwhile to do?

I need options

[EternalWingsofGod]

So this is the price users have to pay for using their "regulated" exchange/wallet? Welcome to the "paypal" of bitcoin

It's the power of concentration it is a tad concerning
However as long as their is sufficient choice and competition developed to compete against Bitpay their is a good chance of avoiding the monopoly trap.

[Lexi Price]

So this is the price users have to pay for using their "regulated" exchange/wallet? Welcome to the "paypal" of bitcoin

It's the power of concentration it is a tad concerning
However as long as their is sufficient choice and competition developed to complete against Bitpay their is a good chance of avoiding the monopoly trap.

I prefer the "they can't regulate bitcoin" option that lured me to it to begin with. So where are options for 100% privacy?

[EternalWingsofGod]

So this is the price users have to pay for using their "regulated" exchange/wallet? Welcome to the "paypal" of bitcoin

It's the power of concentration it is a tad concerning
However as long as their is sufficient choice and competition developed to complete against Bitpay their is a good chance of avoiding the monopoly trap.

I prefer the "they can't regulate bitcoin" option that lured me to it to begin with. So where are options for 100% privacy?

Coinmixers or localbitcoins I guess, that or a Bitcoin ATM that is not KYC/AML if you can find one operating.
Initially the main issue is getting a signifcant amount of coins, guess if your Canadian could use a service like quickbt, get a few dumb phones with dispoable numbers and load up that way, might be a bit hard to use interac though.

[kpitti]

Anyone can choose what service to use. Another fact is when there is "easy" way then most people will use it without thinking about different service or option. But it`s good to know.

[silkylove]

I use coinbase so I obviously trust them.  Haven't had any problems yet.  If they get too restrictive and are no longer consumer friendly then they'll go the way of Blockbuster.

[Kprawn]

Well KYC/AML regulations killed widespread use of their services. That is just the way these regulations are built to decrease "crime" and hiding places for terrorists.

They also offer huge opportunities for governments to intrude on public privacy. We demand less crime and we demand safety, but we also demand privacy... where do we compromise the most?

Use the other alternatives and live with the risks and pay the premium, if privacy is important to you.  

[Lexi Price]

Well KYC/AML regulations killed widespread use of their services. That is just the way these regulations are built to decrease "crime" and hiding places for terrorists.

They also offer huge opportunities for governments to intrude on public privacy. We demand less crime and we demand safety, but we also demand privacy... where do we compromise the most?

Use the other alternatives and live with the risks and pay the premium, if privacy is important to you.  

I call bullshit on that presumption. This isn't about crime and fraud...the feds don't even put this much heat on cash deals or tracking them down. This is just bleeding out bitcoin and getting up in peoples' business...and no doubt to steal bitcoins like they did in these big busts. They're not cracking down on crime - they are the criminals.

I hope the ones out there with the skills are actively working on real solutions so we don't even need shit like coinbase and circle or any exchange and we can buy, sell, trade more p2p like it was intended.

[XCASH]

Well KYC/AML regulations killed widespread use of their services. That is just the way these regulations are built to decrease "crime" and hiding places for terrorists.

They also offer huge opportunities for governments to intrude on public privacy. We demand less crime and we demand safety, but we also demand privacy... where do we compromise the most?

Use the other alternatives and live with the risks and pay the premium, if privacy is important to you.  

I call bullshit on that presumption. This isn't about crime and fraud...the feds don't even put this much heat on cash deals or tracking them down. This is just bleeding out bitcoin and getting up in peoples' business...and no doubt to steal bitcoins like they did in these big busts. They're not cracking down on crime - they are the criminals.

I hope the ones out there with the skills are actively working on real solutions so we don't even need shit like coinbase and circle or any exchange and we can buy, sell, trade more p2p like it was intended.

None of the other exchanges who abide by KYC/AML regulations sound as strict as CoinBase. The CoinBase rules go way beyond any KYC/AML regulations.

[Come-from-Beyond]

None of the other exchanges who abide by KYC/AML regulations sound as strict as CoinBase. The CoinBase rules go way beyond any KYC/AML regulations.

Coinbase wants to be ready when time to lick big official asses in the Senate comes.

[Xiaoxiao]

Coinbase basically has a monopoly over the US bitcoin market. There may be 1 or 2 other options like Circle and CampBX but their volume is limited to a fraction of Coinbase volume. I wonder if an antitrust lawsuit could be filed against them, why is there no real competition in the US?

Circle will catch up.

[ChuckBuck]

Don't see any issue with the disclaimer.  Coinbase is just protecting their operations, and making sure their customers operate within a correct regulatory framework from a Money transmitter standpoint.

Coinbase has done more to mainstream and legitimize Bitcoin, then any of those jerks in the bankrupt and corrupt Bitcoin Foundation.

[SpanishSoldier]

Coinbase basically has a monopoly over the US bitcoin market. There may be 1 or 2 other options like Circle and CampBX but their volume is limited to a fraction of Coinbase volume. I wonder if an antitrust lawsuit could be filed against them, why is there no real competition in the US?

Circle will catch up.

I call bullshit. That's a completely trivial statement that does not respond in any meaningful way to my claim that Coinbase IS a monopoly. I'm not claiming that they'll be a monopoly for all future time. In any case, what makes you think Circle will catch up? Their $2500 per week limit has not changed for a very long time (in crypto time) and as far as I know there is no indication that it will be changing. Do you have some info that you're basing your claim on or are you just pulling it out of your ass?

I'm saying that (right now) Coinbase has a de facto monopoly over the US bitcoin market. Maybe that will change in the future, I don't know, but I'm talking about the present. I'm citing facts to back my claim, everyone who has disagreed with me in this thread has either mentioned non-entity exchanges or said something nonsensical.

Can you sue Google for having De-facto monopoly over US search market ?

[thejaytiesto]

Coinbase basically has a monopoly over the US bitcoin market. There may be 1 or 2 other options like Circle and CampBX but their volume is limited to a fraction of Coinbase volume. I wonder if an antitrust lawsuit could be filed against them, why is there no real competition in the US?

Circle will catch up.

I call bullshit. That's a completely trivial statement that does not respond in any meaningful way to my claim that Coinbase IS a monopoly. I'm not claiming that they'll be a monopoly for all future time. In any case, what makes you think Circle will catch up? Their $2500 per week limit has not changed for a very long time (in crypto time) and as far as I know there is no indication that it will be changing. Do you have some info that you're basing your claim on or are you just pulling it out of your ass?

I'm saying that (right now) Coinbase has a de facto monopoly over the US bitcoin market. Maybe that will change in the future, I don't know, but I'm talking about the present. I'm citing facts to back my claim, everyone who has disagreed with me in this thread has either mentioned non-entity exchanges or said something nonsensical.

Can you sue Google for having De-facto monopoly over US search market ?

Exactly. Whats the point of complaining about that?
Solve it by providing a better service, or better yet, use other ways if you don't like Coinbase. The beauty of Bitcoin is there is always other ways to do things, and no one has a monopoly on BTC thyself.

[AllTheBitz]

CoinBase collecting informations about bitcoin users , its building another database like google , tracking users ,,,
Bewarer of it , it stuying you , you can be anonymous with CoinBase , anonymousity didn't mean you are thief
this is your right , yep have to feel free 

[TippingPoint]

Some users may prefer the convenience of a regulated online exchange.  If it gets them into Bitcoin, while giving them a feeling confidence and security, that would be beneficial.

Many of us prefer to use other methods that do not require sharing personal financial information.

This is the internet.  No one has a monopoly.

[ashour]

bitcoin needs this kind of service but you always have a choice - use or not use that service.

I have to agree, why use coinbase if you don't agree with their terms ? Just don't use their services if you don't want. There are hundreds if not thousands of coinbase alternatives, try circle or bit-x. Coin base will adjust to the agreements of their investors, investors fund them and force coinbase to implement more features.

[StevenS]

Coinbase basically has a monopoly over the US bitcoin market. There may be 1 or 2 other options like Circle and CampBX but their volume is limited to a fraction of Coinbase volume.

Stripe.com, a credit card processor, now takes bitcoin as well.

[Ron~Popeil]

I use circle or local bit coins. Coinbase is the paypal of bitcoin. I use bitpay for business transactions.

I want to be done with coinbase and circle but not sure what the options would be. Granted, this is the first real issue I've had and I'm not a trader so I'm not dealing in high volume transactions...my issue is when I'm ready to move my money, I have to wait on them to get around to it.

My question is if there's an option with bitpay, say I set up an option on my own website, my merchant account, and just 'buy' some widget thing for whatever the amount is I want to buy bitcoin, do it through bitpay and then move it to a wallet from bitpay. Would that work or would they pitch a hissy fit? Or would it even be worthwhile to do?

I need options

I am not sure there is currently a way around the wait other than local bitcoins. If you have traders in your area you can sell and buy in person but pretty much any exchange is going to send your funds through the ach system so you will have that wait.

[Victor Beckham]

I use circle or local bit coins. Coinbase is the paypal of bitcoin. I use bitpay for business transactions.

I want to be done with coinbase and circle but not sure what the options would be. Granted, this is the first real issue I've had and I'm not a trader so I'm not dealing in high volume transactions...my issue is when I'm ready to move my money, I have to wait on them to get around to it.

My question is if there's an option with bitpay, say I set up an option on my own website, my merchant account, and just 'buy' some widget thing for whatever the amount is I want to buy bitcoin, do it through bitpay and then move it to a wallet from bitpay. Would that work or would they pitch a hissy fit? Or would it even be worthwhile to do?

I need options

I am not sure there is currently a way around the wait other than local bitcoins. If you have traders in your area you can sell and buy in person but pretty much any exchange is going to send your funds through the ach system so you will have that wait.

You may try out www.100bit.co.in, but the volume is still low.

[kilter71]

Well I recently sold some thousands in BTC for fiat and the fiat has showed in my account.  Someone said something about only a few thousand in a month will get you banned, I'm hoping I survive...Bummer there's no other EASY way to sell thousands in BTC for fiat.  Everything else requires a lot more work, it seems to me (like localbitcoins).

[Lexi Price]

Some users may prefer the convenience of a regulated online exchange.  If it gets them into Bitcoin, while giving them a feeling confidence and security, that would be beneficial.

Many of us prefer to use other methods that do not require sharing personal financial information.

This is the internet.  No one has a monopoly.

I don't mind a responsible base of regulation. I'm not full on "anti regulation." But it shouldn't be worse than the banks and paypal and that's what both coinbase and circle. As mentioned, paypal didn't require a license or scans of crap or a selfie. My bank did use the license but I get that. I really truly hope there are serious devs out there who are able to come up with a legitimate means of decentralization and no need for regulation.

[kilter71]

Well I recently sold some thousands in BTC for fiat and the fiat has showed in my account.  Someone said something about only a few thousand in a month will get you banned, I'm hoping I survive...Bummer there's no other EASY way to sell thousands in BTC for fiat.  Everything else requires a lot more work, it seems to me (like localbitcoins).

LBC isn't that much work, plus you'll get a higher price. You just post an ad and meet up somewhere with the buyer. Or they can deposit the payment directly to your bank account.

I'm not asking for specifics because I don't want to invade your privacy.  But can you give me a rough estimate of how much BTC I can sell for fiat, and how long it takes?  I'd imagine it's mostly like people want to buy less than 1 BTC worth at a time, so it would take a while to sell it.  Whereas on Coinbase it's $3k at a time (well, until I maybe get banned?).  Thanks.

[btcton]

Don't see any issue with the disclaimer.  Coinbase is just protecting their operations, and making sure their customers operate within a correct regulatory framework from a Money transmitter standpoint.

Coinbase has done more to mainstream and legitimize Bitcoin, then any of those jerks in the bankrupt and corrupt Bitcoin Foundation.

Basically this. They have also spread it around by providing a similar service to BitPay's. A few decently-known website accept it as a payment method.

[johnyj]

Those limits are miserable comparing to bitstamp/bitfinex

[grahvity]

https://twitter.com/grahvity/status/588379459499077633

@Coinbase draws a fuzzy, gray line between business & personal use https://t.co/2zoOWsEPNx #bitcoin

 Unsuspecting users oughtta know.

[StevenS]

I'm not asking for specifics because I don't want to invade your privacy.  But can you give me a rough estimate of how much BTC I can sell for fiat, and how long it takes?  I'd imagine it's mostly like people want to buy less than 1 BTC worth at a time, so it would take a while to sell it.

Here's an example from LocalBitcoins.com.
"Brian", somewhere in the US, will buy up to $9500 of your bitcoin at $227/BTC. After you fund the trade, he will make a deposit into your bank account (at Bank of America, TD Bank, or Citibank).

[SpanishSoldier]

Coinbase basically has a monopoly over the US bitcoin market. There may be 1 or 2 other options like Circle and CampBX but their volume is limited to a fraction of Coinbase volume. I wonder if an antitrust lawsuit could be filed against them, why is there no real competition in the US?

Circle will catch up.

I call bullshit. That's a completely trivial statement that does not respond in any meaningful way to my claim that Coinbase IS a monopoly. I'm not claiming that they'll be a monopoly for all future time. In any case, what makes you think Circle will catch up? Their $2500 per week limit has not changed for a very long time (in crypto time) and as far as I know there is no indication that it will be changing. Do you have some info that you're basing your claim on or are you just pulling it out of your ass?

I'm saying that (right now) Coinbase has a de facto monopoly over the US bitcoin market. Maybe that will change in the future, I don't know, but I'm talking about the present. I'm citing facts to back my claim, everyone who has disagreed with me in this thread has either mentioned non-entity exchanges or said something nonsensical.

Can you sue Google for having De-facto monopoly over US search market ?

Well I don't think Google has a monopoly of internet searches, what nonsense. There are plenty of other search engines that you can use for free without limits on usage, and I've never heard of Google banning individuals because they don't like how they're using the their search engine. This is not the case with bitcoin exchanges. Coinbase maintains unfair advantages over other US exchanges by having much higher purchase limites and even, arguably, putting other exchanges (like Buttercoin recetly) out of business. How do they do this? Well that's as shrouded in secrecy as who their banking partners are, which remains unknown. However it seems obvious to me that they maintain their monopoly through shady means just like the banks do.

Quick follow-up: it looks like the EU has decided that Google IS a monopoly, not over searches in general but shopping results:

http://www.theguardian.com/technology/2015/apr/15/google-faces-antitrust-action-from-eu-competition-watchdog

The European Union has accused Google of cheating competitors by distorting internet search results in favour of its own shopping service, as antitrust charges were filed against its Android mobile operating system.

Imagine such charges being filed in the US, not happening this decade. The Justice Department wasn't even willing to prosecute bankers for massive fraud that they admitted to! There's basically no longer any antitrust law in the US so Coinbase gets a free pass on its MONOPOLY.

Well... I knew this and that is why I specified US and did not reply to your earlier post where u called it a nonsense.

[ToshiOcean]

Coinbase is a reasonable option for casual Bitcoin use.
I say;
* Have the usual fiat accounts (credit cards, debit cards, checking etc.).
* Have a PayPal account (with their debit card - which is handy)
* Have a Bitcoin account established and verified (meaning ready-to-go for buying/selling legal goods and services).
Coinbase makes no pretense about their service. Above board, not-anonymous, reasonable-volume transactions that don't look like you're running boxcars full of guns and heroine.

[duckydonald]

maybe is time for another alt coin to take the lead, so the govs will waste more money and time going after a numbers of times, what about a coin that changes it name?

[Hydros]

Honestly Coinbase kind of defeats the purpose of Bitcoin and it puts a centralized organization in control of your coins. Never keep a large amount of coins in your Coinbase wallet.

[wadili89]

you need to read T.O.S of a company before using them, still you have choice to choss if you want to use them or not

[chopstick]

Personally, I like coinbase and think they provide a quality service.

The guvament is up coinbase's ass with potential FINCEN violations so they are complying as best they can to stay in business.

For the casual user, this should not be a problem.

If you guys want bitcoins completely anonymous, then don't use an exchange or coinbase, use localbitcoins.com and be prepared to pay a hefty fee. And by the way, it's a big risk for BTC sellers to sell >3k worth of BTC to someone anonymously without collecting ID and SSN, cause you could get charged for money laundering if you don't put certain controls in place, and you make a habit of doing this.

I know you guys want free and unregulated coin where everyone can get BTC anonymously for zero fees and no government interference. But it's just NOT going to happen... and it's not coinbases fault either. If you had a company that was generating millions of $ in profit, would you give it all up and potentially go to jail just so you could give the Gov't the finger?

But you can still use certain services to remain anon and avoid centralized services if you wish.

[StevenS]

If you guys want bitcoins completely anonymous, then don't use an exchange or coinbase, use localbitcoins.com and be prepared to pay a hefty fee.

What is your definition of "hefty fee?" I buy bitcoin for cash using localbitcoins.com and I pay the same rate as Bitstamp + 1%. Is that "hefty?"
(Albeit, I only buy fairly small amounts.)

[chopstick]

If you buy with cash deposit then +5-6% is probably about where you can get in at. Not really that hefty for most. If you use other methods it can get higher.

[johnyj]

need more competitors

[Lexi Price]

So this is the price users have to pay for using their "regulated" exchange/wallet? Welcome to the "paypal" of bitcoin

hahahahahahaaaaaaa ... absolutely spot on, hahahaaaa

As much as I HATE paypal, and tried in all earnest to get away from them, I simply can't let them go.  I was able to let go of Ebay after some years of trying -- suffered heavy ebay withdrawal symptoms afterwards. hahahaaa

As for Coinbase I only have one account with them and don't use the exchange so I can't really see it growing on me.  

On the other side of things, they are essentially saying don't use them for business unless you have a business account.   They really don't want to be sucked into any fed investigation over nonsense.  Coinbase is no Paypal, and even paypal doesn't want to be dragged into anything that would invite the feds to look over their books.

Not happy about the July 2015 policy changes on intellectual property so I broke up with PayPal for good.

I've been using Square (square.com) and they have modified their cash app to now include an option for business transactions to be made p2p, and it's free. And they are bitcoin friendly. Check https://cash.me/ and Square main.

[ensurance982]

Not happy about the July 2015 policy changes on intellectual property so I broke up with PayPal for good.
...

What changes are they implementing in July 2015!? Policy changes regarding intellectual property sounds pretty strange, if you ask me. I only know about the cases where they ordered people to destroy their expensive violins because they were thought to be counterfeit merchandise.

[Lexi Price]

Not happy about the July 2015 policy changes on intellectual property so I broke up with PayPal for good.
...

What changes are they implementing in July 2015!? Policy changes regarding intellectual property sounds pretty strange, if you ask me. I only know about the cases where they ordered people to destroy their expensive violins because they were thought to be counterfeit merchandise.

Do what?? LOL please tell me that's snopes material and didn't actually happen.

https://www.paypal.com/va/webapps/mpp/ua/upcoming-policies-full

[Chef Ramsay]

Coinbase has always worked fine for me and never had any front-end issues with my bank over using Coinbase. The only downside is that it takes 5 biz days to get your coinage. Buying/selling coins doesn't come any easier.

[nicked]

Not happy about the July 2015 policy changes on intellectual property so I broke up with PayPal for good.
...

What changes are they implementing in July 2015!? Policy changes regarding intellectual property sounds pretty strange, if you ask me. I only know about the cases where they ordered people to destroy their expensive violins because they were thought to be counterfeit merchandise.

Do what?? LOL please tell me that's snopes material and didn't actually happen.

https://www.paypal.com/va/webapps/mpp/ua/upcoming-policies-full

https://www.cryptocoinsnews.com/bitcoin-future-paypal-changes-terms-service-take-content/

[Lexi Price]

Coinbase has always worked fine for me and never had any front-end issues with my bank over using Coinbase. The only downside is that it takes 5 biz days to get your coinage. Buying/selling coins doesn't come any easier.

I know...that's how it starts. I was happy with it too until the time they screwed up. And when they did, it was a reality check. They held onto it while the price dropped instead of cashing out when I sold. They gave me the run around and delayed it 3 weeks and that's when it really settled in, as long as it's on coinbase it's not really MY bitcoin.

I promise you this, it will happen to you, too before long. Just a matter of when.

[kolloh]

Never really had an issue with Coinbase, but I am becoming more and more concerned about using them. Ideally a more anonymous solution for buying/selling easily would be great.

[SpanishSoldier]

Coinbase notified me that they needed documents, and then immediately cancelled all of my transactions, which was $7000 worth. I find it ridiculous that they did that to me after all the business I've given them. They could have at least given me a chance to respond, I would have provided the documents they needed.

I've decided it is best not to buy large amounts of Bitcoin from Coinbase, so I've gone my separate ways.

Did they freeze your fund or just cancelled the transactions and returned them to you ?

[Elwar]

Before starting with bitwage.co I used to convert every paycheck to bitcoins. That would be thousands of dollars per month. I also have used it for localbitcoins just because of the convenience of their QR scanner.

Looks like I'll have to move those few bitcoins I have on there to a mobile wallet.

Getting euros to pay for things through localbitcoins is "personal use" for me.

[jdebunt]

Getting euros to pay for things through localbitcoins is "personal use" for me.

It is in my book as well tbh can't see anything wrong with that for the time being

[WhatsBitcoin]

COINBASE MURDERED MY FIRST BORN DAUGHTER! TO HELL WITH THEM!!!

[QuestionAuthority]

COINBASE MURDERED MY FIRST BORN DAUGHTER! TO HELL WITH THEM!!!

It could have been worse. They could have raped her first. It least she died with a virgin hole. 

[Gultahin]

I've been using them for sometime, well at least for small amounts i keep on the web, any bigger volume i do/might get i store in paper wallet as those are probably safer (at least if i don't lose them...) Blockchain one seems more trustable but just the effort to move those get me tired.. so staying with them at least for now

[btcton]

Coinbase has always worked fine for me and never had any front-end issues with my bank over using Coinbase. The only downside is that it takes 5 biz days to get your coinage. Buying/selling coins doesn't come any easier.

I know...that's how it starts. I was happy with it too until the time they screwed up. And when they did, it was a reality check. They held onto it while the price dropped instead of cashing out when I sold. They gave me the run around and delayed it 3 weeks and that's when it really settled in, as long as it's on coinbase it's not really MY bitcoin.

I promise you this, it will happen to you, too before long. Just a matter of when.

It hasn't happened to me personally, but I've heard that people who have had that happen are still given the amount worth at the time they submitted it even if it is a few weeks late. Of course, that is no excuse for them to delay it at all, but as they are trying to comply with the law, they value safety quite a bit.

[RussianRaibow]

COINBASE MURDERED MY FIRST BORN DAUGHTER! TO HELL WITH THEM!!!

It could have been worse. They could have raped her first. It least she died with a virgin hole. 

Too bad comparison

[SpanishSoldier]

...and now CoinBase is tracking us

http://cointelegraph.com/news/113207/coinbase-is-tracking-how-users-spend-their-bitcoins

[Gultahin]

coinbase shitty wallet..promising to give 1$ as new registration bonus,but gave nothing..
really waste,phishing for emails...

[RaginglikeaBoss]

CoinBase is legit by most U.S. members, including myself.  It's the pre-Summer pump on schedule as usual.

[RCSTYLE303]

*BEWARE* OF "IGOT" www.igot.com... This exchange based in Australia, has extremely long delays with withdrawals and at this point myself and others believe that they are either scamming outright, or they are operating a Ponzi scheme. IGOT has held onto our money/coin for over 2 months.
The owner is Rick Day, along with Julie and Dan; they give every excuse know to mankind in order to justify stealing money from clients.
*BEWARE OF IGOT" www.igot.com

[subSTRATA]

CoinBase is legit by most U.S. members, including myself.  It's the pre-Summer pump on schedule as usual.

it is legitimate, but the issue here is that coinbase is tracking how users spend their funds, which completely contradicts the relatively anonymous part of using bitcoin.

[tvbcof]

I have a degree of 'trust' in Coinbase insofar as I don't think they will rip me off.  That mostly because I could at least make a credible stab at suing their asses off and they have deep-ish pockets complements of various angel investors and such.

Anyone who has been paying attention and who is modestly knowledgeable about things should have no surprises that they have their entire heads completely within the sphincter of the Feds.  It is entirely expected and I don't hold it against them at all.  In some ways it is actually why I chose to use them.

I predicted many times that the business model Coinbase is going for is to spy on schools of minnows and sell out to a bank or tech giant at the most opportune time.  Larger early-ish adopter types are a distinct liability for this reasons.  I've not done a transaction through them for a year, but even back then they were getting antsy.  And I'm hardly a big fish compared to genuine early adopters I don't imagine.  When they interrogated me I offered that they should have the technical prowess to validate that my BTC came from Tradehill.  That seemed to have gotten them off my back but I expect I'll be shut down if/when I do any more activity of any consequence.  I think I remember Greg Maxwell himself mentioning that they shut him down.  Amazing.  Probably one would have to be a big investor in their company to do any volume through them at this point.

[hZti]

Everybody can track Bitcoin transactions thats the whole point of it, if you don't want them to use a Bitcoin Mixer or a Dark/Privatecoin. Also there isn't really a point in using them if you want privacy because it is not very complicate to use an normal wallet and they offer a very good FREE service for every other person who is just a casual user.

[Icanseemychains]

CoinBase deserves credit for helping Bitcoin grow stronger in the "real-world".

That sure was some compelling, factual evidence you added with your opinion.  What exactly did they do? Become another financial regulation arm for the government? But I thought it wasn't a currency?

[ranlo]

So this is the price users have to pay for using their "regulated" exchange/wallet? Welcome to the "paypal" of bitcoin

CoinBase deserves credit for helping Bitcoin grow stronger in the "real-world". They have the right to decide how to deal with regulations and users have the right to use them or look for other options.

This. While regulation isn't something most of us like, the fact is that it's not something we're going to escape. Coinbase is doing what they need to survive long-term, rather than "punish" the government by ignoring them, only to crash and burn (along with prison time and complete loss of customer funds). I'd much rather be able to use them and know it's safe than to use them and wonder when the government's going to shut it down and take all my coins.

[btcton]

So this is the price users have to pay for using their "regulated" exchange/wallet? Welcome to the "paypal" of bitcoin

CoinBase deserves credit for helping Bitcoin grow stronger in the "real-world". They have the right to decide how to deal with regulations and users have the right to use them or look for other options.

This. While regulation isn't something most of us like, the fact is that it's not something we're going to escape. Coinbase is doing what they need to survive long-term, rather than "punish" the government by ignoring them, only to crash and burn (along with prison time and complete loss of customer funds). I'd much rather be able to use them and know it's safe than to use them and wonder when the government's going to shut it down and take all my coins.

Something that follows regulations is also more attractive to the outside world as it sounds "government-approved" and legit. This contrasts quite a bit with other sites like blockchain or btc-e which are an overload to the average consumer.

[QuestionAuthority]

I have a degree of 'trust' in Coinbase insofar as I don't think they will rip me off.  That mostly because I could at least make a credible stab at suing their asses off and they have deep-ish pockets complements of various angel investors and such.

Anyone who has been paying attention and who is modestly knowledgeable about things should have no surprises that they have their entire heads completely within the sphincter of the Feds.  It is entirely expected and I don't hold it against them at all.  In some ways it is actually why I chose to use them.

I predicted many times that the business model Coinbase is going for is to spy on schools of minnows and sell out to a bank or tech giant at the most opportune time.  Larger early-ish adopter types are a distinct liability for this reasons.  I've not done a transaction through them for a year, but even back then they were getting antsy.  And I'm hardly a big fish compared to genuine early adopters I don't imagine.  When they interrogated me I offered that they should have the technical prowess to validate that my BTC came from Tradehill.  That seemed to have gotten them off my back but I expect I'll be shut down if/when I do any more activity of any consequence.  I think I remember Greg Maxwell himself mentioning that they shut him down.  Amazing.  Probably one would have to be a big investor in their company to do any volume through them at this point.

If you're going to go through the same miserable process you deal with using fiat then explain to me why I should use Bitcoin? People should reward exchanges and businesses like BTCe that provide good service and are beholding to no one and shun businesses that act like a branch of the government like Coinbase. Perhaps Bitcoin shouldn't be used by people in the American nanny state. Maybe a new coin for them called Americoin. They can build it with blacklisting, tracking, Americoin gps locator apps from a certified App Store, direct reporting of your daily expenditures to the IRS, coins that vaporize if you use them at an unapproved business, etc.

[ranlo]

I have a degree of 'trust' in Coinbase insofar as I don't think they will rip me off.  That mostly because I could at least make a credible stab at suing their asses off and they have deep-ish pockets complements of various angel investors and such.

Anyone who has been paying attention and who is modestly knowledgeable about things should have no surprises that they have their entire heads completely within the sphincter of the Feds.  It is entirely expected and I don't hold it against them at all.  In some ways it is actually why I chose to use them.

I predicted many times that the business model Coinbase is going for is to spy on schools of minnows and sell out to a bank or tech giant at the most opportune time.  Larger early-ish adopter types are a distinct liability for this reasons.  I've not done a transaction through them for a year, but even back then they were getting antsy.  And I'm hardly a big fish compared to genuine early adopters I don't imagine.  When they interrogated me I offered that they should have the technical prowess to validate that my BTC came from Tradehill.  That seemed to have gotten them off my back but I expect I'll be shut down if/when I do any more activity of any consequence.  I think I remember Greg Maxwell himself mentioning that they shut him down.  Amazing.  Probably one would have to be a big investor in their company to do any volume through them at this point.

If you're going to go through the same miserable process you deal with using fiat then explain to me why I should use Bitcoin? People should reward exchanges and businesses like BTCe that provide good service and are beholding to no one and shun businesses that act like a branch of the government like Coinbase. Perhaps Bitcoin shouldn't be used by people in the American nanny state. Maybe a new coin for them called Americoin. They can build it with blacklisting, tracking, Americoin gps locator apps from a certified App Store, direct reporting of your daily expenditures to the IRS, coins that vaporize if you use them at an unapproved business, etc.

Why use Bitcoin instead? Instant, irreversible transfers. The anonymity has nothing to do with it for me. It's the ability to pay people without losing huge chunks due to fees. Send $10 in PayPal? That's like $1 in fees. Same in Bitcoin? Two cents. Sending $100 in PayPal? That's $5.30 or so in fees. Bitcoin? Still two cents.

Someone pays me in PayPal? They get pissed off down the road and do a chargeback. Someone pays me in Bitcoin? It's mine.

[QuestionAuthority]

I have a degree of 'trust' in Coinbase insofar as I don't think they will rip me off.  That mostly because I could at least make a credible stab at suing their asses off and they have deep-ish pockets complements of various angel investors and such.

Anyone who has been paying attention and who is modestly knowledgeable about things should have no surprises that they have their entire heads completely within the sphincter of the Feds.  It is entirely expected and I don't hold it against them at all.  In some ways it is actually why I chose to use them.

I predicted many times that the business model Coinbase is going for is to spy on schools of minnows and sell out to a bank or tech giant at the most opportune time.  Larger early-ish adopter types are a distinct liability for this reasons.  I've not done a transaction through them for a year, but even back then they were getting antsy.  And I'm hardly a big fish compared to genuine early adopters I don't imagine.  When they interrogated me I offered that they should have the technical prowess to validate that my BTC came from Tradehill.  That seemed to have gotten them off my back but I expect I'll be shut down if/when I do any more activity of any consequence.  I think I remember Greg Maxwell himself mentioning that they shut him down.  Amazing.  Probably one would have to be a big investor in their company to do any volume through them at this point.

If you're going to go through the same miserable process you deal with using fiat then explain to me why I should use Bitcoin? People should reward exchanges and businesses like BTCe that provide good service and are beholding to no one and shun businesses that act like a branch of the government like Coinbase. Perhaps Bitcoin shouldn't be used by people in the American nanny state. Maybe a new coin for them called Americoin. They can build it with blacklisting, tracking, Americoin gps locator apps from a certified App Store, direct reporting of your daily expenditures to the IRS, coins that vaporize if you use them at an unapproved business, etc.

Why use Bitcoin instead? Instant, irreversible transfers. The anonymity has nothing to do with it for me. It's the ability to pay people without losing huge chunks due to fees. Send $10 in PayPal? That's like $1 in fees. Same in Bitcoin? Two cents. Sending $100 in PayPal? That's $5.30 or so in fees. Bitcoin? Still two cents.

Someone pays me in PayPal? They get pissed off down the road and do a chargeback. Someone pays me in Bitcoin? It's mine.

You should try Amazon Payments then. It's totally free to send money and easier to use than Bitcoin. I've always wondered why so many people use PayPal when there's free services available. Maybe it's for convenience or the fraud protection or something.

If you have a family member or friend that you send money to or get money from regularly then both of you open accounts at the same bank. I send my daughter money all the time by transferring it from my account to hers and she lives across the country and the transfer is totally free.

Bitcoin is all about the non-traceable transfer of value between individuals. Everything else can be done another way.

[RaginglikeaBoss]

CoinBase is legit by most U.S. members, including myself.  It's the pre-Summer pump on schedule as usual.

it is legitimate, but the issue here is that coinbase is tracking how users spend their funds, which completely contradicts the relatively anonymous part of using bitcoin.

I guessed I misread the OP...  If you think bitcoin is even "pseudoninonimous," then you found the only thinking retard I've managed to spot.

[Johny Depp]

More in the saga...

Come on. We are not investigating transactions really far away from the source. You sent bitcoin directly to an address known to be selling fake IDs.

^^Quote by http://www.reddit.com/user/CoinbaseAdrian

http://www.reddit.com/r/Bitcoin/comments/39xhjq/coinbaseadrian_you_sent_bitcoin_directly_to_an/

[MF Doom]

So this is the price users have to pay for using their "regulated" exchange/wallet? Welcome to the "paypal" of bitcoin

Sadly, it may be their only option.  When they get millions upon millions in investor capital, they will be forced to become just like the other payment companies

[runpaint]

Coinbase is the easiest option I found for buying bitcoins with U.S. dollars.  I didn't want to give Cryptsy a video of myself holding my photo I.D. next to my face, so I jumped through Coinbase's different set of hoops.  Once it's all finally set up, it's easy and fast to buy bitcoins with Coinbase.

[MF Doom]

Coinbase is the easiest option I found for buying bitcoins with U.S. dollars.  I didn't want to give Cryptsy a video of myself holding my photo I.D. next to my face, so I jumped through Coinbase's different set of hoops.  Once it's all finally set up, it's easy and fast to buy bitcoins with Coinbase.

Yes, it is currently, but I think most people are worried about becoming TOO big.  Kind of like PayPal is now, with their mountainous "terms & conditions" that override common sense whenever there is a payment dispute...and their ever growing fees

I do think coinbase has the best shot of bringing btc to mainstream use though

[SpanishSoldier]

Coinbase is the easiest option I found for buying bitcoins with U.S. dollars.  I didn't want to give Cryptsy a video of myself holding my photo I.D. next to my face, so I jumped through Coinbase's different set of hoops.  Once it's all finally set up, it's easy and fast to buy bitcoins with Coinbase.

Is it even better than Circle ? AFAIK Circle is allowing credit cards for US customers to buy bitcoin.

[Za1n]

I just recently signed up with Coinbase and have had no issues so far. I have only made purchases and have not tried withdrawing, so can't comment on that side yet.

My only gripe is the bank transfer delay to get funds in (I assume delay in getting them out as well) and the fact you need to buy at the current price. It would be nice to be able to place orders on where you wanted to buy in at.

[tvbcof]

If you're going to go through the same miserable process you deal with using fiat then explain to me why I should use Bitcoin? ...

Speaking for myself, multiplying my initial outlay by 100 times had something to do with it

[ranlo]

If you're going to go through the same miserable process you deal with using fiat then explain to me why I should use Bitcoin? ...

Speaking for myself, multiplying my initial outlay by 100 times had something to do with it

Mine's nothing to do with the verification process -- it's how the funds are sent. To me, it's like using PayPal over ACH -- both require verification of some sort, but PayPal is just faster and easier. Bitcoin is the same way: once verified, paying and receiving payments is a snap, and it's extremely secure.

[odolvlobo]

I just recently signed up with Coinbase and have had no issues so far. I have only made purchases and have not tried withdrawing, so can't comment on that side yet.

My only gripe is the bank transfer delay to get funds in (I assume delay in getting them out as well) and the fact you need to buy at the current price. It would be nice to be able to place orders on where you wanted to buy in at.

The reason for the delay is the U.S. banking system and not Coinbase. Coinbase cannot give you the bitcoins until it knows that it will receive your money. The U.S. banking system takes days to transfer money

If you want to buy or sell bitcoins at a price other than the current price, you can use the Coinbase exchange and place a limit order. https://exchange.coinbase.com/

[QuestionAuthority]

If you're going to go through the same miserable process you deal with using fiat then explain to me why I should use Bitcoin? ...

Speaking for myself, multiplying my initial outlay by 100 times had something to do with it

I made quite a bit of coin but I burned up quite a few hd5970s and motherboards in the process. At $7-800 a pop, I need that $1,000 price back to really be happy and then it wouldn't be near to 100x (10x maybe). That's good for us but what about the poor schmucks that are just getting into it now?

[fatguyyyyy]

coinbase is a total scam .. localbitcoins is legit!

[josephno1]

At least coinbase made it clear that they track you. In addition they also dox you before you use their service (by encouraging users to scan their passports). I mean if you don't want to use coinbase, there are hundreds of alternatives out there that are way more anonymous

[fatguyyyyy]

its a digusting service .. i have had nothing but bad experiences with coinbase. what happens if their site gets hacked? then identity theives get your personal info! No thanks!

[dKingston]

quite possibly the worst exchange ever

[blablaace]

they doxxed me, i bought coins, then they refused to release the 2 btc until I sent more docs ... and they never did release them, just stole them

[solitude]

Coinbase sucks, complete government cucks.  They will happily sell you out to get a pat on the back from daddy government.

Their facebook'esqe logo alone is enough to make me question their integrity.

[lottery248]

i agree.
they are watching us. that's horrible.
unless they are under government regulation, otherwise we shouldn't really trust.

[PenguinFire]

coinbase is a total scam .. localbitcoins is legit!

Why is that?

I use Coinbase and my main concern is Coinbase being in bed with the US government.  I am a US citizen.  I am worried about them reporting to the IRS one day down the line.  Based on my understanding they couldn't get me from anything because it wasn't considered anything to be taxed at the time but I know very little about the legal side of what I am doing. 

[Amph]

At least coinbase made it clear that they track you. In addition they also dox you before you use their service (by encouraging users to scan their passports). I mean if you don't want to use coinbase, there are hundreds of alternatives out there that are way more anonymous

apparently many like to be tracked because they are still using it, they feel more secure when they lose their privacy...

i would not trust a centralized exchange like that which is under an heavy light of the government, it should be hard for them to track me at the very least

there are some decentralized exchange out there, why no one is using them instead? bitshares is one of them

[fatguyyyyy]

coinbase is a total scam .. localbitcoins is legit!

Why is that?

I use Coinbase and my main concern is Coinbase being in bed with the US government.  I am a US citizen.  I am worried about them reporting to the IRS one day down the line.  Based on my understanding they couldn't get me from anything because it wasn't considered anything to be taxed at the time but I know very little about the legal side of what I am doing. 

they are ALREADY reporting to irs

[tvbcof]

At least coinbase made it clear that they track you. In addition they also dox you before you use their service (by encouraging users to scan their passports). I mean if you don't want to use coinbase, there are hundreds of alternatives out there that are way more anonymous

apparently many like to be tracked because they are still using it, they feel more secure when they lose their privacy...

i would not trust a centralized exchange like that which is under an heavy light of the government, it should be hard for them to track me at the very least

there are some decentralized exchange out there, why no one is using them instead? bitshares is one of them

I 'like to be tracked' which is a big part of the reason I used and will continue to use Coinbase as long as they let me.

I decided from early on to be diligent in paying my taxes.  This was relatively easy for me as I have no core philosophical objection to taxes in principle.  I also deliberately made sure some of my transactions exceeded the reporting thresholds so I could not be accused of 'structuring.'  That's not to say that I like shelling out funds to kill people half way around the world with drones and fund vast amounts of corruption closer to home.  I don't.  But I'm not going to ignore reality and thus piss away a good thing (my bet on Bitcoin.)

Very rich people have nothing to fear as our political system protects them and has created a feathered nest for them.  Mere 'middle class' actors (e.g., simple millionaires) will have a very difficult time being anonymous.  The wise move for most is to pay the man else you will be squished like a bug...and may end up that way anyway.  In the mean time work toward a more transparent system where TPTB have fewer rocks to hide under and expect that if successful, some of the unfairness and corruption gets better.

I have strongly advised those who had a windfall in Bitcoin to suck it up and create as small a 'attack surface' as possible.  Those who did not heed my advice would do well to set aside the proceeds needed to pay up if the hammer falls.  I'll bet that one of the big reasons that Bitcoin has been practically carried along by a compliant govt (here in the U.S.) and compliant media is that it is a fantastic honeypot to snare tax cheats.

Again, Coinbase will do exactly what they are doing or they simply will not exist.  I knew that was the case from when I first researched them.  It is simply not their fault but rather the society that we citizens, more than any other party, are to blame for.

[wadili89]

its a digusting service .. i have had nothing but bad experiences with coinbase. what happens if their site gets hacked? then identity theives get your personal info! No thanks!

i just agree with you on this because i like the anonymous fact of bitcoins and when you talk about coinbase there is no anonymousty in this anymore that is why i do not use coinbase anymore i like blockchain for online wallet which is best and need no name or documents just like it should be last time i use coinbase was a year ago

[chopstick]

coinbase is a total scam .. localbitcoins is legit!

Why is that?

I use Coinbase and my main concern is Coinbase being in bed with the US government.  I am a US citizen.  I am worried about them reporting to the IRS one day down the line.  Based on my understanding they couldn't get me from anything because it wasn't considered anything to be taxed at the time but I know very little about the legal side of what I am doing. 

they are ALREADY reporting to irs

this. After Bitcoin hits 10K+ everyone who bought in thru coinbase is gonna get audited.

[RodeoX]

Just what did you guys expect? You thought that all that venture capitol was to create a business to help you evade the law? If you want an anonymous exchange then YOU will need to start writing your elected officials. No one is going to jail for you because you want more money.   

[Herbert2020]

 Do you trust CoinBase.com ?

well that is an easy big NO
i never have and never will trust an online wallet, especially a wallet that i don't have control over my bitcoin which is no access to my private keys.
additionally they have a lot of ridiculous rules which allows them to easily disable and block your funds.
this is not the way bitcoin is meant to be used.

[RocketSingh]

Do you trust CoinBase.com ?

well that is an easy big NO
i never have and never will trust an online wallet, especially a wallet that i don't have control over my bitcoin which is no access to my private keys.
additionally they have a lot of ridiculous rules which allows them to easily disable and block your funds.
this is not the way bitcoin is meant to be used.

Is there really any case where CoinBase has locked the fund ? AFAIK, they deny to transact in some cases. But, never heard that they denied refund or locked the fund.

[faridkifly]

I think coinbase is untrusted because they are under goverment regulation.. I think offline wallet is better

[Mickeyb]

I think coinbase is untrusted because they are under goverment regulation.. I think offline wallet is better

I would never in my life trust coinbase. They would be actually the last place where I would buy my bitcoins at. Over and over again, they have shown and proved with their actions that they care more about governments and centralization instead of the Bitcoin community.
They are centralizing Bitcoin if you ask me.

[GermanGiant]

I think coinbase is untrusted because they are under goverment regulation.. I think offline wallet is better

Coinbase is much more than a mere wallet service. They were a bitcoin shop from beginning and now they are a real time exchange too.

[BayAreaCoins]

Just what did you guys expect? You thought that all that venture capitol was to create a business to help you evade the law? If you want an anonymous exchange then YOU will need to start writing your elected officials. No one is going to jail for you because you want more money.  

Hardly this. ^

I didn't expect for a "transparent" company to use a NYSE tweet about transparency and news they received VC money in order to run a pump and dump on a Sunday night based on news that was a lie.

I didn't expect for my account to be shut off for no reason and for the company to be so invasive.

I didn't expect for a "transparent" Bitcoinless company to hide their office location and have it guarded by ninjas.

Someone should make a Bitbet on if the Coinbase people will be arrested or killed first.  

[newIndia]

I didn't expect for my account to be shut off for no reason and for the company to be so invasive.

Why was your account shut off ?

[commandrix]

Do not store your Bitcoin in any third-party service for very long, is all I have to say about it.

[b-trading]

bitcoin needs this kind of service but you always have a choice - use or not use that service.

so i have a decision to never use that service. I only use it as an online wallet and if i want to sell my btc i will sell it on the other places

[ranlo]

I like them, I do not really care about staying anonymous, I do not think I will be getting in trouble for buying digital games .

I also use block.io and they limit the number of addresses you can generate (unless you pay), I think coinbase offers you unlimited addresses (Ok, I have not checked, but at least there is no warning in the control panel).

What I like of btc is its low fees, and it has nothing to do with the wallet... (or maybe yes, if the wallet charges you abusive extra fees, which Coinbase does not).

Not only does Coinbase give you unlimited addresses, but you can have unlimited wallets, as well. And a vault, which requires 2-3 types of protection (like 2FA, email and password) to withdraw from, increasing security. And it's insured.

[odolvlobo]

I like them, I do not really care about staying anonymous, I do not think I will be getting in trouble for buying digital games .

I also use block.io and they limit the number of addresses you can generate (unless you pay), I think coinbase offers you unlimited addresses (Ok, I have not checked, but at least there is no warning in the control panel).

What I like of btc is its low fees, and it has nothing to do with the wallet... (or maybe yes, if the wallet charges you abusive extra fees, which Coinbase does not).

Not only does Coinbase give you unlimited addresses, but you can have unlimited wallets, as well. And a vault, which requires 2-3 types of protection (like 2FA, email and password) to withdraw from, increasing security. And it's insured.

Only their hot wallet is insured.

[ranlo]

I like them, I do not really care about staying anonymous, I do not think I will be getting in trouble for buying digital games .

I also use block.io and they limit the number of addresses you can generate (unless you pay), I think coinbase offers you unlimited addresses (Ok, I have not checked, but at least there is no warning in the control panel).

What I like of btc is its low fees, and it has nothing to do with the wallet... (or maybe yes, if the wallet charges you abusive extra fees, which Coinbase does not).

Not only does Coinbase give you unlimited addresses, but you can have unlimited wallets, as well. And a vault, which requires 2-3 types of protection (like 2FA, email and password) to withdraw from, increasing security. And it's insured.

Only their hot wallet is insured.

Are you sure about this? I thought all of it is...

[odolvlobo]

Not only does Coinbase give you unlimited addresses, but you can have unlimited wallets, as well. And a vault, which requires 2-3 types of protection (like 2FA, email and password) to withdraw from, increasing security. And it's insured.

Only their hot wallet is insured.

Are you sure about this? I thought all of it is...

Coinbase is insured against employee theft and hacking in an amount that exceeds the average value of online bitcoin it holds at any given time. ...

Note that there are things that they are not insured against, such as bankruptcy.

[ranlo]

Not only does Coinbase give you unlimited addresses, but you can have unlimited wallets, as well. And a vault, which requires 2-3 types of protection (like 2FA, email and password) to withdraw from, increasing security. And it's insured.

Only their hot wallet is insured.

Are you sure about this? I thought all of it is...

Coinbase is insured against employee theft and hacking in an amount that exceeds the average value of online bitcoin it holds at any given time. ...

Note that there are things that they are not insured against, such as bankruptcy.

The thing you quoted means:

1) Offline BTC (aka, the vault) is already protected
2) The insurance covers MORE than the hot wallet (ensuring it's protected)

Wasn't aware of the bankruptcy part, but there's really no way to give insurance against that anyways: they either have money or they don't.

[Electric Money]

I've got no qualms with Coinbase.  I sure as shit am not going to try and buy coins from an un reputable individual even if the SOB is in right in front of my face.  CB has done me just fine so far and I've transferred in and out quite a bit.  Must be something wrong with your "bona-fides" to get more privileges in your account.

[BayAreaCoins]

I've got no qualms with Coinbase.  I sure as shit am not going to try and buy coins from an un reputable individual even if the SOB is in right in front of my face.  CB has done me just fine so far and I've transferred in and out quite a bit.  Must be something wrong with your "bona-fides" to get more privileges in your account.

  Glad to see your mommy taught you not to talk to strangers.  Coinbase is going to work for you until it doesn't.  I strongly recommend not getting used to it.

I didn't expect for my account to be shut off for no reason and for the company to be so invasive.

Why was your account shut off ?

For no reason I guess??

I had multiple account problems for a handful of months.

First reason:  Had my credit card on multiple peoples accounts because I trusted them and was trying to help people into Bitcoin.

Second reason:  Unknown... Account just stopped working and I had to contact support a handful of time.  The "support chat tab" is one of those fake appearance of support bullshit things VC's use (similar to fucking Postmates... nothing more annoying than a fucking support that doesn't support!(

Third reason:  I made a bit of an uproar about them running a pump and dump off a positive news week of Bitcoin.  Which I wake up every morning hoping to see some criminal charges against multiple members of their company.

Final reason (kind of in line with the third):  I shifted a handful of Altcoin investments in order to go long on Bitcoin because of what a great it week it was having and then finally on Sunday night when I believed Coinbase was going to launch the "first regulated exchange".  Coinbase absolutely demanded to know where these funds came from in order to run through their site... I was fucking pissed because this Boiler Room company was demanding my private shit... So I told them to look it up on the Blockchain.  Obviously not the answer they were looking for!

I can still send Bitcoins through Coinbase, but I can not buy or sell.  When you get blocked your account will show a Buy or Sell pending and then removes it, but leaves the weekly/daily limits subtracted as if you bought it.

[Electric Money]

Must be doing shady stuff then.  They have to comply with all the U.S. Laws.  Perhaps you'd be better off at BTCe.

[Herbert2020]

I like them, I do not really care about staying anonymous, I do not think I will be getting in trouble for buying digital games .

I also use block.io and they limit the number of addresses you can generate (unless you pay), I think coinbase offers you unlimited addresses (Ok, I have not checked, but at least there is no warning in the control panel).

What I like of btc is its low fees, and it has nothing to do with the wallet... (or maybe yes, if the wallet charges you abusive extra fees, which Coinbase does not).

Not only does Coinbase give you unlimited addresses, but you can have unlimited wallets, as well. And a vault, which requires 2-3 types of protection (like 2FA, email and password) to withdraw from, increasing security. And it's insured.

Only their hot wallet is insured.

Are you sure about this? I thought all of it is...

IMO, it is not important if it is insured or not, because you are trusting a third party with what you can secure on your own. and in any case that you lose your bitcoins you can not get it back if they decide they don't want to give you refund.

[BayAreaCoins]

Must be doing shady stuff then.  They have to comply with all the U.S. Laws.  Perhaps you'd be better off at BTCe.

Kill yourself.

Maybe you'd be better off not being a shill for some shitty Boiling Room/Snitch company.

I "must" have been guilty... blow me.    I comply with US law just fine.  I've never had any issues with any banks and blah blah blah.

We are all better off peer to peer.  Except for maybe you!

Edit:

I thought Coinbase buys from BTC-e anyways last I checked  .  Maybe not any more, but you couldn't really trust the company either way if they said they did or didn't.

[ranlo]

I like them, I do not really care about staying anonymous, I do not think I will be getting in trouble for buying digital games .

I also use block.io and they limit the number of addresses you can generate (unless you pay), I think coinbase offers you unlimited addresses (Ok, I have not checked, but at least there is no warning in the control panel).

What I like of btc is its low fees, and it has nothing to do with the wallet... (or maybe yes, if the wallet charges you abusive extra fees, which Coinbase does not).

Not only does Coinbase give you unlimited addresses, but you can have unlimited wallets, as well. And a vault, which requires 2-3 types of protection (like 2FA, email and password) to withdraw from, increasing security. And it's insured.

Only their hot wallet is insured.

Are you sure about this? I thought all of it is...

IMO, it is not important if it is insured or not, because you are trusting a third party with what you can secure on your own. and in any case that you lose your bitcoins you can not get it back if they decide they don't want to give you refund.

That's like saying not to trust a fiat bank because you're trusting a third party with the insurance.

[fryarminer]

They are the future PayPal. With the good and all the negative aspects of PayPal.

When I first opened my PayPal account, I used a name. No ssn, no bank account, no credit card, no address.
Then the day came when they blocked my account - not the incoming money, rather the withdrawals, until I provided that info. In other words they would not give me my money unless I provided all that info.

Coinbase is for PayPal lovers. It's not the best for bitcoin users.

[Gilboa]

They are the future PayPal. With the good and all the negative aspects of PayPal.

When I first opened my PayPal account, I used a name. No ssn, no bank account, no credit card, no address.
Then the day came when they blocked my account - not the incoming money, rather the withdrawals, until I provided that info. In other words they would not give me my money unless I provided all that info.

Coinbase is for PayPal lovers. It's not the best for bitcoin users.

This really might be what they're turning into. Overall Coinbase hasn't been so bad. Yet I wouldn't be surprised to see them become the crypto version of PayPal in the near future.

[ranlo]

They are the future PayPal. With the good and all the negative aspects of PayPal.

When I first opened my PayPal account, I used a name. No ssn, no bank account, no credit card, no address.
Then the day came when they blocked my account - not the incoming money, rather the withdrawals, until I provided that info. In other words they would not give me my money unless I provided all that info.

Coinbase is for PayPal lovers. It's not the best for bitcoin users.

This really might be what they're turning into. Overall Coinbase hasn't been so bad. Yet I wouldn't be surprised to see them become the crypto version of PayPal in the near future.

They're doing everything by the book, so of course they're taking the PayPal route. They never said they were going to make things anonymous. In fact, everyone should already know that's not possible if you want to run a legal business in the U.S. I'm not understanding how so many people are caught off guard. This has been going on for well over 100 years now. It's not magically going to change for one business.

[momore]

LocalBitcoins and Coinbase

Coinbase neither prohibits nor endorses our customers’ lawful use of any third-party exchange service. Nor do we necessarily prohibit our customers’ sale of bitcoin in peer-to-peer transactions for personal, non-business use.

Coinbase customers may not, however, use their Coinbase Accounts to engage as a business in the exchange of virtual currency for fiat currency, funds, or other virtual currency. Coinbase reserves the right to limit your account use if we detect activity which constitutes a violation of this policy and/or our User Terms. We further reserve the right to limit your account use if your account is associated with high-volume activity inconsistent with personal use.

Source: https://support.coinbase.com/customer/portal/articles/1905681-localbitcoins-and-coinbase

In News: Coinbase Is Tracking How Users Spend Their Bitcoins

I'm using coinbase wallet, thanks for the warning.

[fryarminer]

LocalBitcoins and Coinbase

Coinbase neither prohibits nor endorses our customers’ lawful use of any third-party exchange service. Nor do we necessarily prohibit our customers’ sale of bitcoin in peer-to-peer transactions for personal, non-business use.

Coinbase customers may not, however, use their Coinbase Accounts to engage as a business in the exchange of virtual currency for fiat currency, funds, or other virtual currency. Coinbase reserves the right to limit your account use if we detect activity which constitutes a violation of this policy and/or our User Terms. We further reserve the right to limit your account use if your account is associated with high-volume activity inconsistent with personal use.

Source: https://support.coinbase.com/customer/portal/articles/1905681-localbitcoins-and-coinbase

In News: Coinbase Is Tracking How Users Spend Their Bitcoins

I'm using coinbase wallet, thanks for the warning.

Dude - rule number one for owning bitcoin: keep your private keys.

[philipma1957]

I would advise people to not post in this thread if they live in the USA and dis coinbase.

Here is why coinbase makes an effort to comply with government regulations.

So If you post against them you are saying you don't want to comply with us government regulations.

I believe in free speech.  But we know these threads are read by the USA government. I read more then one post here that could have the US government checking you out.

My take on coinbase is if you want to obey the US law and live in the USA you should use them.

If you want to hide your BTC and break USA laws don't post about it here.

[QuestionAuthority]

I would advise people to not post in this thread if they live in the USA and dis coinbase.

Here is why coinbase makes an effort to comply with government regulations.

So If you post against them you are saying you don't want to comply with us government regulations.

I believe in free speech.  But we know these threads are read by the USA government. I read more then one post here that could have the US government checking you out.

My take on coinbase is if you want to obey the US law and live in the USA you should use them.

If you want to hide your BTC and break USA laws don't post about it here.

Are you kidding? Merricans spend most of their free time talking shit about their government. It's like the national pastime. It's the quiet ones that do all the damage, not the complainers. I really hope they don't waste taxpayers money reading every thread on this forum because it mostly bullshit and they can't do anything about it anyway. The government couldn't possibly be stupid enough to act on things they read here because 90% of it is bullshit and 10% is just plain lies. If the U.S. Gov was that stupid they would have collapsed decades ago. They might discover a crime some other way and come here to corroborate but they wouldn't come here to find the crime.

[halim]

I would advise people to not post in this thread if they live in the USA and dis coinbase.

Here is why coinbase makes an effort to comply with government regulations.

So If you post against them you are saying you don't want to comply with us government regulations.

I believe in free speech.  But we know these threads are read by the USA government. I read more then one post here that could have the US government checking you out.

My take on coinbase is if you want to obey the US law and live in the USA you should use them.

If you want to hide your BTC and break USA laws don't post about it here.

Are you kidding? Merricans spend most of their free time talking shit about their government. It's like the national pastime. It's the quiet ones that do all the damage, not the complainers. I really hope they don't waste taxpayers money reading every thread on this forum because it mostly bullshit and they can't do anything about it anyway. The government couldn't possibly be stupid enough to act on things they read here because 90% of it is bullshit and 10% is just plain lies. If the U.S. Gov was that stupid they would have collapsed decades ago. They might discover a crime some other way and come here to corroborate but they wouldn't come here to find the crime.

90% of it is bullshit and 10% is just plain lies  , Ok could you please tell me whats the type of your replies and threads here ? with  the 90% of it is bullshit   OR with the 10% is just plain lies ?.

[QuestionAuthority]

I would advise people to not post in this thread if they live in the USA and dis coinbase.

Here is why coinbase makes an effort to comply with government regulations.

So If you post against them you are saying you don't want to comply with us government regulations.

I believe in free speech.  But we know these threads are read by the USA government. I read more then one post here that could have the US government checking you out.

My take on coinbase is if you want to obey the US law and live in the USA you should use them.

If you want to hide your BTC and break USA laws don't post about it here.

Are you kidding? Merricans spend most of their free time talking shit about their government. It's like the national pastime. It's the quiet ones that do all the damage, not the complainers. I really hope they don't waste taxpayers money reading every thread on this forum because it mostly bullshit and they can't do anything about it anyway. The government couldn't possibly be stupid enough to act on things they read here because 90% of it is bullshit and 10% is just plain lies. If the U.S. Gov was that stupid they would have collapsed decades ago. They might discover a crime some other way and come here to corroborate but they wouldn't come here to find the crime.

90% of it is bullshit and 10% is just plain lies  , Ok could you please tell me whats the type of your replies and threads here ? with  the 90% of it is bullshit   OR with the 10% is just plain lies ?.

You'll have to figure that out on your own. lol

[halim]

I would advise people to not post in this thread if they live in the USA and dis coinbase.

Here is why coinbase makes an effort to comply with government regulations.

So If you post against them you are saying you don't want to comply with us government regulations.

I believe in free speech.  But we know these threads are read by the USA government. I read more then one post here that could have the US government checking you out.

My take on coinbase is if you want to obey the US law and live in the USA you should use them.

If you want to hide your BTC and break USA laws don't post about it here.

Are you kidding? Merricans spend most of their free time talking shit about their government. It's like the national pastime. It's the quiet ones that do all the damage, not the complainers. I really hope they don't waste taxpayers money reading every thread on this forum because it mostly bullshit and they can't do anything about it anyway. The government couldn't possibly be stupid enough to act on things they read here because 90% of it is bullshit and 10% is just plain lies. If the U.S. Gov was that stupid they would have collapsed decades ago. They might discover a crime some other way and come here to corroborate but they wouldn't come here to find the crime.

90% of it is bullshit and 10% is just plain lies  , Ok could you please tell me whats the type of your replies and threads here ? with  the 90% of it is bullshit   OR with the 10% is just plain lies ?.

You'll have to figure that out on your own. lol

Yeah, Bullshlies 

[QuestionAuthority]

I would advise people to not post in this thread if they live in the USA and dis coinbase.

Here is why coinbase makes an effort to comply with government regulations.

So If you post against them you are saying you don't want to comply with us government regulations.

I believe in free speech.  But we know these threads are read by the USA government. I read more then one post here that could have the US government checking you out.

My take on coinbase is if you want to obey the US law and live in the USA you should use them.

If you want to hide your BTC and break USA laws don't post about it here.

Are you kidding? Merricans spend most of their free time talking shit about their government. It's like the national pastime. It's the quiet ones that do all the damage, not the complainers. I really hope they don't waste taxpayers money reading every thread on this forum because it mostly bullshit and they can't do anything about it anyway. The government couldn't possibly be stupid enough to act on things they read here because 90% of it is bullshit and 10% is just plain lies. If the U.S. Gov was that stupid they would have collapsed decades ago. They might discover a crime some other way and come here to corroborate but they wouldn't come here to find the crime.

90% of it is bullshit and 10% is just plain lies  , Ok could you please tell me whats the type of your replies and threads here ? with  the 90% of it is bullshit   OR with the 10% is just plain lies ?.

You'll have to figure that out on your own. lol

Yeah, Bullshlies 

ROFL  I could be a law enforcement officer and no one would know it. LEOs are the biggest liars on public forums too. They say whatever they need to say to fit in and buddy up to a suspected criminal. On occasion you read a story of one agency that's undercover being busted by another agency. It's like a dog chasing its own tail. lol

[philipma1957]

I would advise people to not post in this thread if they live in the USA and dis coinbase.

Here is why coinbase makes an effort to comply with government regulations.

So If you post against them you are saying you don't want to comply with us government regulations.

I believe in free speech.  But we know these threads are read by the USA government. I read more then one post here that could have the US government checking you out.

My take on coinbase is if you want to obey the US law and live in the USA you should use them.

If you want to hide your BTC and break USA laws don't post about it here.

Coinbase is garbage and the US gov't is run by crooks. Coinbase and their secret banking partners are about deciding who can and cannot do business with bitcoins. Their scumbag cronies use illegal means to maintain a monopoly. And nobody is trying to investigate crime through reading this forum. The last thing fraudsters want to do is to set a precedent that goes against their own interests, by going after real criminals. They'd rather pin their own crimes on law-abiding citizens.

 this is pretty much accurate.  but the problem is the USA government has a shit ton lawyers guns and money.

They don't operate based on profit since they can just print more money and they can single out anyone they please and pretty much cut them to ribbons if they want to.

I know of more then one guy that did nothing and got caught up in lots of trouble.

 His sin was pointing out a person to ask for pot.   He did it to an undercover cop.  Cop went over to the dealer busted him.  The dealer rolled over to his supplier got off free.  The guy that told the narc where to but the dope  got 18 months.

My point is if I tell you where to buy btc and how to buy btc off the books I am no longer BS'ing I could be accused of money laundering.

  same as pointing you in the direction of a dealer.

 So by my book coinbase is fine as they are legal.

[BayAreaCoins]

<trash>
My point is if I tell you where to buy btc and how to buy btc off the books I am no longer BS'ing I could be accused of money laundering.
<trash>

 Um no... No on so many levels.  

Bitcoin isn't illegal in and of itself..

The cop asking where he can buy [fill in the illegal thing here] is leaps and bounds different than asking for the nearest ATM.

[GODLIKE]

LocalBitcoins and Coinbase

Coinbase neither prohibits nor endorses our customers’ lawful use of any third-party exchange service. Nor do we necessarily prohibit our customers’ sale of bitcoin in peer-to-peer transactions for personal, non-business use.

Coinbase customers may not, however, use their Coinbase Accounts to engage as a business in the exchange of virtual currency for fiat currency, funds, or other virtual currency. Coinbase reserves the right to limit your account use if we detect activity which constitutes a violation of this policy and/or our User Terms. We further reserve the right to limit your account use if your account is associated with high-volume activity inconsistent with personal use.

Source: https://support.coinbase.com/customer/portal/articles/1905681-localbitcoins-and-coinbase

In News: Coinbase Is Tracking How Users Spend Their Bitcoins

I can't see where the issue is.
Coinbase is a SERVICE aimed at commerce.
I find it completely legit that they don't want people to become their surrogate and begin to exchange Bictoin for fiat currency themselves, using the Coinbase service.
That's the only thing those lines mean: they will check how much traffic you will generate and guess if you are becoming an online Bitcoin trader.

[Gimpeline]

If I wanted regulated crap service I would use Pay-Pal. I don't. so coinbase of off the menu

[EternalWingsofGod]

If I wanted regulated crap service I would use Pay-Pal. I don't. so coinbase of off the menu

That's basically where I stand in regards to coinbase
It's a pain doing business in the USA and as of August 8 even worse in New York when the Bitlicense takes effect.

[maokoto]

I trust Coinbase a great deal. It does not bother me much that they track some of my spends... but I understand that many people would not like it and move to other services.

[MisterMoney]

I'm still using coinbase.

[lorylore]

At least coinbase is easy for me. fast despoit within minutes. i got another local exchange but the transfer can takes up to hrs or even days.

[Hellacopter]

LocalBitcoins and Coinbase

Coinbase neither prohibits nor endorses our customers’ lawful use of any third-party exchange service. Nor do we necessarily prohibit our customers’ sale of bitcoin in peer-to-peer transactions for personal, non-business use.

Coinbase customers may not, however, use their Coinbase Accounts to engage as a business in the exchange of virtual currency for fiat currency, funds, or other virtual currency. Coinbase reserves the right to limit your account use if we detect activity which constitutes a violation of this policy and/or our User Terms. We further reserve the right to limit your account use if your account is associated with high-volume activity inconsistent with personal use.

Source: https://support.coinbase.com/customer/portal/articles/1905681-localbitcoins-and-coinbase

In News: Coinbase Is Tracking How Users Spend Their Bitcoins

The limitation of accounts is really very bad gest from Coinbase, and not really make sense because there is a lot of methods to hold , buy, and sell Bitcoin out of Coinbase. We can't charge back Bitcoin, if you send Bitcoin and the transaction confirmed it's most likely impossible to get it back, unless the receiver send it back to you..So i think Coinbase haven't to imitate Paypal because simply Bitcoin isn't Dollar

[ronald98]

LocalBitcoins and Coinbase

Coinbase neither prohibits nor endorses our customers’ lawful use of any third-party exchange service. Nor do we necessarily prohibit our customers’ sale of bitcoin in peer-to-peer transactions for personal, non-business use.

Coinbase customers may not, however, use their Coinbase Accounts to engage as a business in the exchange of virtual currency for fiat currency, funds, or other virtual currency. Coinbase reserves the right to limit your account use if we detect activity which constitutes a violation of this policy and/or our User Terms. We further reserve the right to limit your account use if your account is associated with high-volume activity inconsistent with personal use.

Source: https://support.coinbase.com/customer/portal/articles/1905681-localbitcoins-and-coinbase

In News: Coinbase Is Tracking How Users Spend Their Bitcoins

I can't see where the issue is.
Coinbase is a SERVICE aimed at commerce.
I find it completely legit that they don't want people to become their surrogate and begin to exchange Bictoin for fiat currency themselves, using the Coinbase service.
That's the only thing those lines mean: they will check how much traffic you will generate and guess if you are becoming an online Bitcoin trader.

What if you were using coinbase legitimately and they made a mistake checking your traffic and froze your account? Their traffic checking systems are likely to make some mistakes because "high-volume activity inconsistent with personal use" is a vague statement. Further, checking for "exchange of virtual currency for fiat currency, funds, or other virtual currency" is not easy, and again likely to result in mistakes.

Their terms and conditions make a clear statement of what they don't allow, but they can't get it right checking for violations every time, so some customers will have their accounts closed, or funds frozen although they have not broken their terms.

[Mickeyb]

At least coinbase is easy for me. fast despoit within minutes. i got another local exchange but the transfer can takes up to hrs or even days.

I was a long time opponent of the Coinbase. I finally tried it two days ago since they have enabled credit card purchases for European customers. So I have opened an account and try to buy with my credit card. After I saw a limit of €40, I just logged off and closed the browser.

I don't salute them following our spends, but I am not doing anything wrong. I was anyways just trying to buy coins instantly and get them the hell out of the Coinbase wallet.

[Preen]

I find it really stupid that you have to explain where your bitcoins come from.

[ranlo]

I find it really stupid that you have to explain where your bitcoins come from.

Welcome to being licensed. If you want to go buy a car for $10k+ in cash, you have to fill out an IRS form that explains where the cash came from. It's just the way regulation works.

[Denker]

I find it really stupid that you have to explain where your bitcoins come from.

That is the world of finance where almost everything is regulated like shit.
Do yourself a favour and don't use them if you have a choice.
I myself never used them until now and I'm sure this won't change in the future.I completely avoid them.

[GetClams.com]

The solution: Time to develop a trustless mixer.

[ashour]

So this is the price users have to pay for using their "regulated" exchange/wallet? Welcome to the "paypal" of bitcoin

CoinBase deserves credit for helping Bitcoin grow stronger in the "real-world". They have the right to decide how to deal with regulations and users have the right to use them or look for other options.

Absolutely, if people don't trust or dislike coinable they should just simple not use their service. There are literally a dozen of CoinBase alternatives out there, choose the one that fits you the most.

[QuestionAuthority]

There have the worst customer service known to men for this kind of platform just for a misunderstanding
now they stealing all my btc  fucking coinbase is the next paypal don't do business with them if you can help it.

But that's what they want to be. Just like PayPal, they comply with every little regulation the fiat system has to offer. Their employees probably get fired if they get caught j-walking. It is funny that this philosophy of compliance is exactly the opposite of what the original designer of Bitcoin wanted it to be.


The Bitcoin Whitepaper ~ Satoshi Nakamoto

Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution......

.....Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes. The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for non- reversible services. With the possibility of reversal, the need for trust spreads. Merchants must be wary of their customers, hassling them for more information than they would otherwise need. A certain percentage of fraud is accepted as unavoidable. These costs and payment uncertainties can be avoided in person by using physical currency, but no mechanism exists to make payments over a communications channel without a trusted party.

[rienelber]

Coinbase neither prohibits nor endorses our customers’ lawful use of any third-party exchange service. Nor do we necessarily prohibit our customers’ sale of bitcoin in peer-to-peer transactions for personal, non-business use.

Coinbase customers may not, however, use their Coinbase Accounts to engage as a business in the exchange of virtual currency for fiat currency, funds, or other virtual currency. Coinbase reserves the right to limit your account use if we detect activity which constitutes a violation of this policy and/or our User Terms. We further reserve the right to limit your account use if your account is associated with high-volume activity inconsistent with personal use.

Source: https://support.coinbase.com/customer/portal/articles/1905681-localbitcoins-and-coinbase

In News: Coinbase Is Tracking How Users Spend Their Bitcoins


Uow, I wasn't aware of that. Thanks for the heads up!

[GermanGiant]

There have the worst customer service known to men for this kind of platform just for a misunderstanding
now they stealing all my btc  fucking coinbase is the next paypal don't do business with them if you can help it.

You have plenty of alternatives. No need to stick to Coinbase.

[Cortive]

There have the worst customer service known to men for this kind of platform just for a misunderstanding
now they stealing all my btc  fucking coinbase is the next paypal don't do business with them if you can help it.

This is what most of us are scared of. BTC Wallets acting like PayPal, however, there are too many wallets and there can always be more wallets.