CCCB: Coinbase is close to Bankruptcy

[Bitcoinpro]

Been seeing enough reports recently to suggest they are in major

trouble,

[NorrisK]

That could explain their rebranding and addition of alt coins..

Increasing their income from fees from highly traded trade pairs is the best way to increase their turn over.

The rebrand was probably expensive and unnessary though if they really are in rough waters.

[Bitcoinpro]

Rebranding wont protect them from bankrupty only chapter 11 can do that

[alyssa85]

What reports? Coinbase has a lot of venture capital behind them - They raised $75 million in 2015.

They have added alts because they think the blocksize problem means that bitcoin won't make it and they are positioning for a MySpace => Facebook move should it happen.

It is worth noting that both BTC-E and Gemini have come to the same conclusion and have both added Ether in the last month...

[Bitcoinpro]

What reports? Coinbase has a lot of venture capital behind them - They raised $75 million in 2015.

They have added alts because they think the blocksize problem means that bitcoin won't make it and they are positioning for a MySpace => Facebook move should it happen.

It is worth noting that both BTC-E and Gemini have come to the same conclusion and have both added Ether in the last month...

their will be lots of myspace on their webpage soon

maybe even some bingspace like cryptsy

[DGulari]

What reports? Coinbase has a lot of venture capital behind them - They raised $75 million in 2015.

Can you say 'burn rate'?  $75M is nothing the way these guys were operating a year or two ago.  They've been spending money out their ass with a huge staff of people doing a bunch of bullshit.  The hype will really get to you.  I believe the reports.  Get your money out of Coinbase now - don't wait around until another Gox thing happens.  If you do, it is your own damn fault and nobody around here is going to listen to your fucking crying.

[alyssa85]

What reports? Coinbase has a lot of venture capital behind them - They raised $75 million in 2015.

Can you say 'burn rate'?  $75M is nothing the way these guys were operating a year or two ago.  They've been spending money out their ass with a huge staff of people doing a bunch of bullshit.  The hype will really get to you.  I believe the reports.  Get your money out of Coinbase now - don't wait around until another Gox thing happens.  If you do, it is your own damn fault and nobody around here is going to listen to your fucking crying.

Again - what reports?

Produce something specific. I know this forum hates them because they advocate a blocksize increase, but trying to spread FUD about their business without any proof is a bit low...

[ranlo]

What reports? Coinbase has a lot of venture capital behind them - They raised $75 million in 2015.

Can you say 'burn rate'?  $75M is nothing the way these guys were operating a year or two ago.  They've been spending money out their ass with a huge staff of people doing a bunch of bullshit.  The hype will really get to you.  I believe the reports.  Get your money out of Coinbase now - don't wait around until another Gox thing happens.  If you do, it is your own damn fault and nobody around here is going to listen to your fucking crying.

I don't necessarily agree that they're in trouble (and feel the opposite, actually), but I can't stress enough that the point about Bitcoin (and cryptos in general) is that YOU control them. If they're in the hands of another (read: Coinbase) you aren't in control. Whether they're going to crash and burn or not is irrelevant, because you should only have coins on an exchange when necessary. So I disagree with your reasoning but absolutely agree with you saying to remove coins.

[Bitcoinpro]

What reports? Coinbase has a lot of venture capital behind them - They raised $75 million in 2015.

Can you say 'burn rate'?  $75M is nothing the way these guys were operating a year or two ago.  They've been spending money out their ass with a huge staff of people doing a bunch of bullshit.  The hype will really get to you.  I believe the reports.  Get your money out of Coinbase now - don't wait around until another Gox thing happens.  If you do, it is your own damn fault and nobody around here is going to listen to your fucking crying.

too late to withdraw now, file a claim with their insurer before

they cancel the coinbase contract!!!!

[Bitcoinpro]

What reports? Coinbase has a lot of venture capital behind them - They raised $75 million in 2015.

Can you say 'burn rate'?  $75M is nothing the way these guys were operating a year or two ago.  They've been spending money out their ass with a huge staff of people doing a bunch of bullshit.  The hype will really get to you.  I believe the reports.  Get your money out of Coinbase now - don't wait around until another Gox thing happens.  If you do, it is your own damn fault and nobody around here is going to listen to your fucking crying.

Again - what reports?

Produce something specific. I know this forum hates them because they advocate a blocksize increase, but trying to spread FUD about their business without any proof is a bit low...

they are big enough to have a rep here

stop spreading ur own fud

[coblee]

Please stop spreading lies. Coinbase is very healthy and we have a long runway.

Charlie Lee
Director of Engineering @ Coinbase

[pooya87]

Been seeing enough reports recently to suggest they are in major

trouble,

i have never used coinbase before because of their stupid rules and Terms of services. but i doubt that they are in any trouble.

can you give any link to these "reports"?

[DGulari]

Please stop spreading lies. Coinbase is very healthy and we have a long runway.

Charlie Lee
Director of Engineering @ Coinbase

Get back to work and stop fucking around in Internet forums.  When your director of engineering is monitoring internet forums instead of building important shit - you know you are in very big trouble - $75M or $175M - you're going to spend it all if people aren't working.  

[Bitcoinpro]

Please stop spreading lies. Coinbase is very healthy and we have a long runway.

Charlie Lee
Director of Engineering @ Coinbase

its up to your insurer to decide that now

public opinion is growing that ur funds have run out

[7788bitcoin]

Been seeing enough reports recently to suggest they are in major

trouble,

I really would like to read some of the "reports" you mentioned here. Although personally I am a bit disappointed with Coinbase to include Ether in their business, I still think they are important for the development of bitcoin use. Please forward the links or full text of the reports.

[Bitcoinpro]

Been seeing enough reports recently to suggest they are in major

trouble,

I really would like to read some of the "reports" you mentioned here. Although personally I am a bit disappointed with Coinbase to include Ether in their business, I still think they are important for the development of bitcoin use. Please forward the links or full text of the reports.

people are hestitant to complain for fear of affecting the company

seems as though some big withdrawals have been delayed

I think the insurer covers company theft, id say people

will get their money they, should launch an insurance claim now

though, the insurer will also be quick to put a halt on claims

for new deposits, this is going to be interesting

An insurance covered bankruptcy

[RawDog]

Please stop spreading lies. Coinbase is very healthy and we have a long runway.

Charlie Lee
Director of Engineering @ Coinbase

Directors always deny it vigorously up until the big announcement in the press.  They have to.  Otherwise, there would be a run on the bank.  Only the fools are left hanging around.  Being so quick to deny it by a senior staffer makes me believe this is real. 

[Bitcoinpro]

https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-

says employee theft is covered here


Coinbase has held this insurance since November 2013 with highly rated carriers (S&P rating of A+ or A.M. Best Rating of A XV or higher).

now to find out who the insurer is and send them an email (anyone waiting funds)

[Cyaren]

Stop trying to spread your FUD around without any tangible proof. You said that based on the current report, Coinbase is close to bankruptcy. But what report are you talking about? A person above me has already asked you that question and you simply ignored that completely and come out and posted a random link to the insurance policy of Coinbase.

I would say that Coinbase is very trustworthy, way more trustworthy than all the other exchanges because they comply to laws and is a registered company. People who trust an unregulated exchange over coinbase is just dumb.

[coblee]

Please stop spreading lies. Coinbase is very healthy and we have a long runway.

Charlie Lee
Director of Engineering @ Coinbase

its up to your insurer to decide that now

public opinion is growing that ur funds have run out

Our insurer decides nothing. I don't think you understand how our insurance works.

Luckily public opinion can't change a lie to be the truth. Otherwise, we would be in trouble!

Sadly, people will just keep posting FUD.