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Question: Do you trust CoinBase.com ?
Yes - 76 (43.7%)
No - 98 (56.3%)
Total Voters: 174

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Author Topic: Beware of CoinBase  (Read 12434 times)
GetClams.com
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October 04, 2015, 09:17:37 PM
 #161

The solution: Time to develop a trustless mixer.
"With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless." -- Satoshi
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ashour
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October 04, 2015, 10:28:38 PM
 #162

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

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.
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December 10, 2015, 02:44:05 PM
 #163

There have the worst customer service known to men for this kind of platform just for a misunderstanding
now they stealing all my btc  Huh 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
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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.

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December 10, 2015, 02:44:59 PM
Last edit: February 22, 2016, 08:07:37 PM by rienelber
 #164



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!
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December 10, 2015, 06:34:30 PM
 #165

There have the worst customer service known to men for this kind of platform just for a misunderstanding
now they stealing all my btc  Huh 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.
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December 10, 2015, 06:56:59 PM
 #166

There have the worst customer service known to men for this kind of platform just for a misunderstanding
now they stealing all my btc  Huh 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.
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