Beware of CoinBase

[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

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[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.