I would suggest that you not attempt to initiate any kind of chargeback regarding the transaction in question until you are 100% sure that coinbase is not going to give you either your BTC or your fiat back, as it will only cause additional headaches and possibly delays.
Prior to initiating an instant buy on coinbase, you will need to have both a bank account and a credit card linked to your coinbase account. Did both your credit card and bank account have sufficient funds available (and sufficient cash advance credit line available) to cover the instant buy prior to initiating the instant buy?
On the transaction for the purchase in question, when you click on the transaction, you should be shown certain details of the transaction, including when the bitcoin should (will be) released; what does this say?
How did you initiate the support for coinbase (other then live chat)? I have had to contact support a couple of times in the past, and always contacted them via their website, and would receive a response fairly quickly (within a few days, even if a resolution was not available at that time). They would respond to me via email, and I could respond to their response via email.
Yes, I believe eventually Coinbase will release the bitcoin but not without negligence on their part.
I am fully verified and when I made the purchase it was an Instant buy meaning when I clicked to purchase it told me the bitcoin would be available immediately. They did not fulfill this and something on their end hiccuped and caused the transaction to get stuck. In fact it still is showing The bitcoin will arrive by the end of today and this was on June 9th. The funds were immediately withdrawn by my bank and the transaction posted successfully and Coinbase has been paid. This was not one of those buys where they wait to get the funds from the bank account several days later this was an Instant Buy.
I immediately emailed them once I saw the bitcoins were not released. In fact I've made Instant purchases since this one and they have all worked fine.
I have been in contact several times via Email, the resoultion center online, and live chat without any resolution. They keep stalling and saying it is being worked on but 7 full business days is no excuse and this should have been resolved immediately. From their community center I can see several others have had this same problem without any resolution as well. Now as you can see from the big drop back down on the BTC price this has cost me money. What if they take so long to finally fix the problem and the bitcoin price drops considerably lower than the price I paid. That is not cool. If they had solved this problem immediately like they should have I could have made a sell and all is well and done.
I have filed a complaint with the Better Business Bureau as my first step to getting their attention. I would rather not initiate any sort of chargeback either but at what point in time do you keep waiting for them to fix and release the bitcoins from an error on their own negligence of software that could cost me a financial loss. Support in their community just says keep hanging on but its been several days and NOTHING is getting done. Bitcoin is dropping back down hard I've been around this community since 2011 I've seen the huge ups and downs and in my opinion its on a big drop. It will not surprise me one bit that when they finally "fix" the stuck transaction bitcoin price will be worth lower than what I paid.
This is fraudulent behavior on their behalf. If they don't have the necessary staff to perform work when their own website fails then perhaps they shouldn't be in the business or gasp hire more staff.
