Coinbase falling is a big deal

[TKeenan]

While the certainty remains in question, Coinbase falling is a very big blow to the community.  Without a good solid exchange, I am not sure bitcoin will have an easy time getting user adoption up to where it needs to be.  It sure is sad to see a real institution go down like that.

[bestluck]

I think coinbase is not a good solid exchange for now, bitstamp is more better and reliable than it, as it is the first national licensed bitcoin exchange and with that a number of people are redirected to it and they shifted their trade to there.

[UngratefulTony]

A bunch of these FUD posts are popping up because coinbase enabled ETH trading today. They got tired of watching Bitcoin's utility and competitiveness be eroded away to benefit Blockstream's plans for a settlement layer model for BTC. As Core has capped the potential growth of the Bitcoin network... businesses, users, and investment will flow to competitors. It's not personal, it's just simple 101-level economics.

[Denker]

While the certainty remains in question, Coinbase falling is a very big blow to the community.  Without a good solid exchange, I am not sure bitcoin will have an easy time getting user adoption up to where it needs to be.  It sure is sad to see a real institution go down like that.

You sound like as if there wouldn't be any other solid exchanges with good reputation out there.
This is ridicolous.If one company messes it up, because they were not able to build a solid business model, a fail is the logical result.
This has nothing to do with Bitcoin when a few entrepreneurs are just too stupid.
IF Coinbase should really have problems and go down, someone else will take their place.Simple is that!

[UngratefulTony]

A bunch of these FUD posts are popping up because coinbase enabled ETH trading today. They got tired of watching Bitcoin's utility and competitiveness be eroded away to benefit Blockstream's plans for a settlement layer model for BTC. As Core has capped the potential growth of the Bitcoin network... businesses, users, and investment will flow to competitors. It's not personal, it's just simple 101-level economics.

So the rebrand allowing more coins is what is upsetting em?

That's a big part of it I think.

Brian Armstrong, their CEO, was/is a big supporter of increasing the maxblocksize, so there's some hate for that too.

Fred Ehrsam, the other co-founder, wrote a piece today describing the situation:
https://medium.com/the-coinbase-blog/ethereum-is-the-forefront-of-digital-currency-5300298f6c75

Money flowing into ETH, isn't flowing into BTC, and that makes BTC investors nervous and frustrated. As coinbase is a major gateway for the crypto/fiat trade... people no longer have to buy BTC to buy ETH. Shame it's come to this, but it's important for people to realize that BTC doesn't have a monopoly on this industry (especially when it is being purposefully handicapped by Blockstream Core devs with a glaring conflict of interest).

 

[zimmah]

While the certainty remains in question, Coinbase falling is a very big blow to the community.  Without a good solid exchange, I am not sure bitcoin will have an easy time getting user adoption up to where it needs to be.  It sure is sad to see a real institution go down like that.

the whole point of bitcoin is that it is decentralized.

a "big exchange" falling should not have a large impact. MtGox was a little different because back then there were less option and also MtGox embazzled a lot of coins and affected the market in many other ways.

[ccs5t]

I just spoke to coinbase on the phone. Yes the phone. The guy I spoke to said they weren't aware of any issues. He seemed shocked I was able to get his number.

(800) 343-5845 is there support line which goes to a vm

(850) 728-9952 goes to Blake Ratliff - Works in compliance and investigations. This is the guy I spoke with who seems to be the right contact

(415) 513-9024 is the CEO Brian's direct line- was busy when I tried.

[prettybuds]

I just spoke to coinbase on the phone. Yes the phone. The guy I spoke to said they weren't aware of any issues. He seemed shocked I was able to get his number.

(800) 343-5845 is there support line which goes to a vm

(850) 728-9952 goes to Blake Ratliff - Works in compliance and investigations. This is the guy I spoke with who seems to be the right contact

(415) 513-9024 is the CEO Brian's direct line- was busy when I tried.

Lol, serious? Not aware of any issues?

[bitkilo]

I just spoke to coinbase on the phone. Yes the phone. The guy I spoke to said they weren't aware of any issues. He seemed shocked I was able to get his number.

(800) 343-5845 is there support line which goes to a vm

(850) 728-9952 goes to Blake Ratliff - Works in compliance and investigations. This is the guy I spoke with who seems to be the right contact

(415) 513-9024 is the CEO Brian's direct line- was busy when I tried.

Im sure Brian's going to be happy today when he gets a heap of calls from people who just glanced at this topic and really think that Coinbase is going down.
They are just rebranding and adding a couple of additional coins.
they have to keep up with the times or they will fail, this is a good thing to happen for Coinbase users.

[AgentofCoin]

I just spoke to coinbase on the phone. Yes the phone. The guy I spoke to said they weren't aware of any issues. He seemed shocked I was able to get his number.

(800) 343-5845 is there support line which goes to a vm

(850) 728-9952 goes to Blake Ratliff - Works in compliance and investigations. This is the guy I spoke with who seems to be the right contact

(415) 513-9024 is the CEO Brian's direct line- was busy when I tried.

Im sure Brian's going to be happy today when he gets a heap of calls from people who just glanced at this topic and really think that Coinbase is going down.
They are just rebranding and adding a couple of additional coins.
they have to keep up with the times or they will fail, this is a good thing to happen for Coinbase users.

I think there are some serious trolls or shills who keep saying it's failing to cause panic.

The rumor is there are issues where they are double withdrawing from users bank accounts without consent,
and at other times, not withdrawing from users bank  account but providing btc not requested.

There are rumors that they were hacked, others say it is problems with the new exchange system.
Coinbase's current statement is that they were upgrading and are refunding users banks accounts.

https://www.reddit.com/r/Bitcoin/comments/4ktvpk/whats_going_on_with_coinbase_very_suspicious/
https://www.reddit.com/r/Bitcoin/comments/4kuk8g/coinbase_scammed_me_of_10k_usd/

So it is not entirely because of the ETH addition or just plain FUD.

[ccs5t]

[/quote]I have seen the one account of someone saying they the 10k withdrawal, it is said it is being refunded so it's not quite a witch hunt yet, that and he had tried to have them withdrawal earlier and his bank stopped it until he manually override it. I am guessing the Coinbase system had a queue or possibly there was an issue where coinbase withdrew one and the new system GDAX did as well.
[/quote]


No, and that was me. I tried to purchase large quantities of bitcoin which apparently flagged my account and all of my orders kept getting cancelled. I was told my bank was blocking the charges. After resolving all the issues I saw 10k had been pulled by coinbase, so clearly it was not my bank blocking the charges. Anyway that 10k was pulled but coinbase "cancelled" the transaction. The automated email said I would be refunded in 3-4 days but I was now told by the rude CS guy to check back in after 10 business days.

So yes it appears coinbase is just deciding to hold onto my funds.

[The Sceptical Chymist]

Coinbase isn't failing, you fool!   Yeah it would be bad news if they failed or Goxxed but that's not happening.

[ebliever]

This is just FUD by signature campaign spammers too lazy to buy some ETH as a hedge.

[outatime1]

I was just told on another thread that we should not panic about coinbase and that they aren't going out of business. There is apparently a rumor that they are having problems but it is just a rumor. I'm not going to worry about it right now because  they have been very stable for a long time as far as I can tell.

[Rubberduckie]

unfortunately its still the wild west out there.

we wont know the IBM of bitcoin vs the failed bitcoin
start up for years. Its the reason why I dont think anyone
should keep or use just one exchange. Especially after what
happened with gox.

[Gleb Gamow]

I think coinbase is not a good solid exchange for now, bitstamp is more better and reliable than it, as it is the first national licensed bitcoin exchange and with that a number of people are redirected to it and they shifted their trade to there.

You really make me feel like this is a shill account and that you are being paid. You also said just 14 days ago you use coinbase and feel secure saving your coins in their wallet. So which is it?

Is this the first case of quantum entanglement where the counterpart doesn't flip? Perhaps, the event times are too close together. Let's wait a few months and see what happens.

[bitbunnny]

We are  living in thew cyber age, things like this happen. It's very possible that they have been hacked, unfortunately today this is a "normal" risk in online business. But the major issue here , to my opinion, is not if they were hacked or not, or if there is some other security issue, but the problem is how will they handle it, what will they say to their clients and what wll they do that this doesn't happen in the future anymore. And if clients suffered any damage how will they compensate it and how quickly are they able to re-establish they reputation again.

[Gleb Gamow]

I just spoke to coinbase on the phone. Yes the phone. The guy I spoke to said they weren't aware of any issues. He seemed shocked I was able to get his number.

(800) 343-5845 is there support line which goes to a vm

(850) 728-9952 goes to Blake Ratliff - Works in compliance and investigations. This is the guy I spoke with who seems to be the right contact

(415) 513-9024 is the CEO Brian's direct line- was busy when I tried.

https://www.linkedin.com/in/blake-ratliff-81450957



I'll give you a nickle if you find anything remotely related to M.H.R. Land Surveyors.

[owm123]

I was just told on another thread that we should not panic about coinbase and that they aren't going out of business. There is apparently a rumor that they are having problems but it is just a rumor. I'm not going to worry about it right now because  they have been very stable for a long time as far as I can tell.

Where do you get your news from? They rebranted their exchange and added eth to it. Nothing more to it.

[arcticlava]

I just spoke to coinbase on the phone. Yes the phone. The guy I spoke to said they weren't aware of any issues. He seemed shocked I was able to get his number.

(800) 343-5845 is there support line which goes to a vm

(850) 728-9952 goes to Blake Ratliff - Works in compliance and investigations. This is the guy I spoke with who seems to be the right contact

(415) 513-9024 is the CEO Brian's direct line- was busy when I tried.

https://www.linkedin.com/in/blake-ratliff-81450957



I'll give you a nickle if you find anything remotely related to M.H.R. Land Surveyors.

http://www.mhreng.com/services/land-surveying_13.html


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