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Author Topic: Do not use Coinbase  (Read 8203 times)
jl2035
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September 15, 2012, 10:53:44 AM
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Ok... I guess maybe there are some people who have good experiences with Coinbase, but I seriously wouldn't recommend it to anyone.

First the only reason I joined was the bonus program... And the only reason 90% people joined is the promised 0.01 bonus that you can withdraw any time. Now you can see many complains on their support site from people who did everything and just didn't receive the bonus. An example:
http://support.coinbase.com/customer/portal/questions/455288-no-bonus-bitcoin

I think the goal of this kind of website would be flexibility, credibility and instant payments. Fast and simple money transfers are the point of Bitcoin.

On coinbase any transaction you make, stays "Pending". They say for an hour, but that is not completly true. After waiting for few hours people will just lose their patience. Very interesting thing happened to me: yesterday I sent some amount to my local wallet. Today when I woke up I checked and money did not arive, and the "Pending" transaction on coinbase was just gone and the money was still in my coinbase wallet. Like I never sent it. When I get this 3BTC out of there I'll never use coinbase again.

So again: I don't recomment using Coinbase at all.

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paraipan
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September 15, 2012, 10:56:29 AM
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Ok... I guess maybe there are some people who have good experiences with Coinbase, but I seriously wouldn't recommend it to anyone.

First the only reason I joined was the bonus program... And the only reason 90% people joined is the promised 0.01 bonus that you can withdraw any time. Now you can see many complains on their support site from people who did everything and just didn't receive the bonus. An example:
http://support.coinbase.com/customer/portal/questions/455288-no-bonus-bitcoin

I think the goal of this kind of website would be flexibility, credibility and instant payments. Fast and simple money transfers are the point of Bitcoin.

On coinbase any transaction you make, stays "Pending". They say for an hour, but that is not completly true. After waiting for few hours people will just lose their patience. Very interesting thing happened to me: yesterday I sent some amount to my local wallet. Today when I woke up I checked and money did not arive, and the "Pending" transaction on coinbase was just gone and the money was still in my coinbase wallet. Like I never sent it. When I get this 3BTC out of there I'll never use coinbase again.

So again: I don't recomment using Coinbase at all.

Same thing happened to me but with only 1 btc, wish they tested the thing on the bitcoin testnet before launching to public. I think will stick with blockchain.info wallet

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September 15, 2012, 11:34:05 AM
 #3

They have some problems at the moment. Outgoing transactions are not relayed to the network.

You can make a json export of the transaction, but I don't know of any websites where you can paste the json export. Is there an easy way to convert the json export to a raw transaction we can paste at blockchain.info?
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September 15, 2012, 11:39:43 AM
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They have some problems at the moment. Outgoing transactions are not relayed to the network.

You can make a json export of the transaction, but I don't know of any websites where you can paste the json export. Is there an easy way to convert the json export to a raw transaction we can paste at blockchain.info?

They had that problem for the past month...

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September 15, 2012, 03:29:39 PM
 #5

And after a day you will most likely get a message like this:

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On [ Date ] you sent [ X ] BTC to  [ address ]. This transaction was still unconfirmed by the bitcoin network after 24 hours so we've removed it and restored the amount to the original sender.

Sorry for the trouble on that! We've been notified about the problem and are working to prevent unconfirmed transaction chains like this in the future.

Thanks for bearing with us while we work out a few issues in beta.

Kind regards

The Coinbase Team


I was watching that address at blockchain.info and there was no activity at all.  They also don't give you an option, as far as I can see, to add a fee to the transaction.

So it seems they just don't want you to withdraw your money.    Angry
phantastisch
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September 15, 2012, 03:35:41 PM
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They have some problems at the moment. Outgoing transactions are not relayed to the network.

You can make a json export of the transaction, but I don't know of any websites where you can paste the json export. Is there an easy way to convert the json export to a raw transaction we can paste at blockchain.info?

They had that problem for the past month...

The first Time i encountered it was on 15th August.

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September 15, 2012, 04:11:29 PM
 #7

They have some problems at the moment. Outgoing transactions are not relayed to the network.

You can make a json export of the transaction, but I don't know of any websites where you can paste the json export. Is there an easy way to convert the json export to a raw transaction we can paste at blockchain.info?

They had that problem for the past month...

The first Time i encountered it was on 15th August.

Does this happen for all attempts to send BTC from ones Coinbase account?  Or does it work sometimes? 
I am wondering if there is any sense in me trying it again? 
jl2035
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September 15, 2012, 06:16:52 PM
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Right now my only concern is to get my money the f.... out of there!

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phantastisch
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September 15, 2012, 07:17:31 PM
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They have some problems at the moment. Outgoing transactions are not relayed to the network.

You can make a json export of the transaction, but I don't know of any websites where you can paste the json export. Is there an easy way to convert the json export to a raw transaction we can paste at blockchain.info?

They had that problem for the past month...

The first Time i encountered it was on 15th August.

Does this happen for all attempts to send BTC from ones Coinbase account?  Or does it work sometimes? 
I am wondering if there is any sense in me trying it again? 

It worked for me 9 Days later , so i suspect it works sometimes. I never went back because things like this make a wallet unreliable. And the lack of any kind of support other than saying they are having problems. I even opened a ticket which got answered YESTERDAY. So i agree with the OP : Do not use Coinbase.

Plagiarize, let no one elses work evade your eyes.
Remember why the good lord made your eyes, so don't shade your eyes but plagiarize, plagiarize, plagiarize. Only be sure always to call it please 'Alternative Coin'.
Kupsi
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September 16, 2012, 09:59:47 AM
 #10

It worked for me right now  Smiley

(After four attempts the last days.)
jl2035
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September 16, 2012, 01:34:38 PM
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I finally succeeded...after two days... 3 or 4 attempts... Thank god... now I'm done with them...

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MtGoxTraderBot
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September 16, 2012, 02:22:48 PM
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Kinda feel bad for the owner, all that pay out to just lose all the users when he has a scripting error. Should have used a better coder I guess.

MTGox Trading Bot In Beta, results posted from daily trades here. (https://bitcointalk.org/index.php?topic=110037.msg1200601)
phantastisch
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September 16, 2012, 02:30:12 PM
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Kinda feel bad for the owner, all that pay out to just lose all the users when he has a scripting error. Should have used a better coder I guess.

I heard they successfully raised 250000 USD ,so ...

Plagiarize, let no one elses work evade your eyes.
Remember why the good lord made your eyes, so don't shade your eyes but plagiarize, plagiarize, plagiarize. Only be sure always to call it please 'Alternative Coin'.
Severian
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September 16, 2012, 02:33:11 PM
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Ycombinator isn't necessarily a friend to the bitcoin community, though they might be useful in the future.
MtGoxTraderBot
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September 16, 2012, 02:46:45 PM
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Still, thats a lot of cheddar. Or the most expensive confidence scam I have seen in a while.

MTGox Trading Bot In Beta, results posted from daily trades here. (https://bitcointalk.org/index.php?topic=110037.msg1200601)
phantastisch
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September 16, 2012, 02:53:08 PM
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Ycombinator isn't necessarily a friend to the bitcoin community, though they might be useful in the future.

They are friends of money. And if they can make money with bitcoins , they will start do to so. So i think that is not the reason for the lack of support and working withdrawals.

Plagiarize, let no one elses work evade your eyes.
Remember why the good lord made your eyes, so don't shade your eyes but plagiarize, plagiarize, plagiarize. Only be sure always to call it please 'Alternative Coin'.
MtGoxTraderBot
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September 16, 2012, 02:57:09 PM
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With all that cash to throw around I wonder why they used bootstrap for their site, why not design something unique.

MTGox Trading Bot In Beta, results posted from daily trades here. (https://bitcointalk.org/index.php?topic=110037.msg1200601)
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September 16, 2012, 02:59:21 PM
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They are friends of money. And if they can make money with bitcoins , they will start do to so. So i think that is not the reason for the lack of support and working withdrawals.

I didn't make my point clearly but I think we're in agreement. The lack of support and working withdrawals is due to the fact that someone at coinbase isn't seeing the money.
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September 16, 2012, 05:51:33 PM
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They will probably see the losses and fold the operation if thats the case I think.

MTGox Trading Bot In Beta, results posted from daily trades here. (https://bitcointalk.org/index.php?topic=110037.msg1200601)
Portnoy
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September 16, 2012, 06:20:09 PM
 #20

Sending BTC from there worked for me now.  This time they prompted for a miners fee which they didn't do the first time I tried. 
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