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[Walter Rothbard]

I have two more purchases in transit; one has an ETA of Wednesday, 18:00 UTC, and the other of Thursday, 18:00 UTC.  I'll try to keep progress posted here if anything changes.

Right now both of them are appearing in my transactions tab.

The Wednesday purchase has arrived, right on schedule.

[1714829562]

1714829562

[jayson3]

My recent purchase cleared right on schedule.'

However, I have been unable to initiate any new purchases for the last 3-4 days.  I always get the "limit has been reached" message.  Has anyone been able to place an order on coinbase recently?  If so, how?

[thefiniteidea]

My recent purchase cleared right on schedule.'

However, I have been unable to initiate any new purchases for the last 3-4 days.  I always get the "limit has been reached" message.  Has anyone been able to place an order on coinbase recently?  If so, how?

You don't need to wait 24 hours. Wait for the price to drop a bit.... then try again.

When enough people sell, Coinbase seems to have enough on reserve to safely fill buy-orders.

This is based off of personal experience. I have no idea what Coinbase does on their end.

[Walter Rothbard]

I have two more purchases in transit; one has an ETA of Wednesday, 18:00 UTC, and the other of Thursday, 18:00 UTC.  I'll try to keep progress posted here if anything changes.

Right now both of them are appearing in my transactions tab.

The Wednesday purchase has arrived, right on schedule.

Thursday made it, too.

[w1R903]

My recent purchase cleared right on schedule.'

However, I have been unable to initiate any new purchases for the last 3-4 days.  I always get the "limit has been reached" message.  Has anyone been able to place an order on coinbase recently?  If so, how?

You're probably running up against their daily limits on the total number of Bitcoins they sell (presumably because they have an algorithm to limit the number of coins in their hot wallet per day to x percent).  However, it's a rolling limit, so if you check back a few hours later it may be lifted.

I'm still not very happy with the number of incidents I'm hearing where they overturn Bitcoin purchases a week later after the price has gone up considerably.  In the meantime, that amount is presumably frozen in your bank account.  I don't think they're trying to pull any kind of intentional scam, but it leaves a very bad taste in new customers mouths, even ones they are not directly affected.  I like the ease with which I was able to add a checking account to Coinbase, but I'll probably be using another exchange in the future (trying to move away from MTGOX).  Perhaps Bitstamp, who has by far the cleanest-designed site of any exchange I've seen in 2+ years of buying Bitcoins.  I used them to fund my Ripple account in BTC and then buy a few Ripple and have been very impressed (disclaimer: I haven't actually used them for any BTC trades yet, so do your due diligence).

[redwraith]

My recent purchase cleared right on schedule.'

However, I have been unable to initiate any new purchases for the last 3-4 days.  I always get the "limit has been reached" message.  Has anyone been able to place an order on coinbase recently?  If so, how?

You're probably running up against their daily limits on the total number of Bitcoins they sell (presumably because they have an algorithm to limit the number of coins in their hot wallet per day to x percent).  However, it's a rolling limit, so if you check back a few hours later it may be lifted.

I'm still not very happy with the number of incidents I'm hearing where they overturn Bitcoin purchases a week later after the price has gone up considerably.  In the meantime, that amount is presumably frozen in your bank account.  I don't think they're trying to pull any kind of intentional scam, but it leaves a very bad taste in new customers mouths, even ones they are not directly affected.  I like the ease with which I was able to add a checking account to Coinbase, but I'll probably be using another exchange in the future (trying to move away from MTGOX).  Perhaps Bitstamp, who has by far the cleanest-designed site of any exchange I've seen in 2+ years of buying Bitcoins.  I used them to fund my Ripple account in BTC and then buy a few Ripple and have been very impressed (disclaimer: I haven't actually used them for any BTC trades yet, so do your due diligence).

Yes, I ran up against that "limit reached" message on Friday.  I tried 3 times and on the third try was able to place the order.  Total wait time about 10 minutes. 

[BitcoinTate]

I have still yet to receive my BTC or any indication they are on their way. My last communication with them was on March 05:
"Hi Jared - taking a look at the original thread now. Sorry for the delay, but rest assured we will make it right.

Regards,
Fred"

Somehow how I really doubt I will ever receive the BTC I ordered, I am now going on three weeks.

[HappyScamp]

Update:

Okay, at least they are now making a serious effort at responding to their customers.

It's been a month or so since I made plenty of stink for them for canceling a transaction after it had shown up as cleared.

This morning, however, I received this email from them:

Coinbase just sent you 0.2496 BTC (worth $14.61 USD) using Coinbase.

Attached message:

    I'm sorry you had a poor experience and would have been happy to rectify had you contacted us directly. I've made sure it won't happen again and send this for the lost profit over the window you were waiting for your order to arrive.

So, their having done that, I want to acknowledge it, and suggest that people (cautiously) reconsider their service.

[justusranvier]

1 transaction out of 9 = 11%

I'm now at 3 transactions cancelled out of 20 or 15%

All three times have been cancelled one week after initiating the purchase, after the funds had successfully cleared from my bank account, and approximately at the time they had promised to release the bitcoins.

I also tried an "instant" buy last night after completing the new verification step. It's still pending after 18 hours.

[BitcoinTate]

I'm wondering how often this happens, since they choose to keep secret their method of determining "high risk". I wish the poll could incorporate a few other factors. Regardless, I'm hoping it's a very low percentage, but we will see.

Derived from the concerns addressed in this thread: https://bitcointalk.org/index.php?topic=144633.msg1559435#msg1559435

Thanks everyone!

 

This happened to me the first time I used them in February of this year. That's why they are still in business.. They protect their customers & themselves.

[BitcoinTate]

I'm wondering how often this happens, since they choose to keep secret their method of determining "high risk". I wish the poll could incorporate a few other factors. Regardless, I'm hoping it's a very low percentage, but we will see.

Derived from the concerns addressed in this thread: https://bitcointalk.org/index.php?topic=144633.msg1559435#msg1559435

Thanks everyone!

 

This happened to me the first time I used them in February of this year. That's why they are still in business.. They protect their customers & themselves.

Just remembered I had another issue from above when the price jumped in March. I actually talked to the founder directly back then and he credited me the loss from the price increase in the delay. Different world back then.

[malaimult]

1 transaction out of 9 = 11%

I'm now at 3 transactions cancelled out of 20 or 15%

All three times have been cancelled one week after initiating the purchase, after the funds had successfully cleared from my bank account, and approximately at the time they had promised to release the bitcoins.

I also tried an "instant" buy last night after completing the new verification step. It's still pending after 18 hours.

have the same problem here. They reply me with the high risk algorithm and Olaf advise me to keep trying until i got my transaction cleared. Or wait 2 3 weeks and try again. But my canceled transactions are 10 out of 10. i stop trying once i reached this limit, to tired to see the stupid algorithm at work.

Your instant transaction will be canceled as far as i know. Maybe they change the strategy but from my experience they will definitely canceled.