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bones261
Legendary
 Offline
Activity: 1806
Merit: 1828
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June 12, 2017, 12:29:19 AM |
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Go on the Coinbase support forums or Reddit forum.
Page after page of people unable to access their accounts, weeks or months with no response from support.
Now there are many instances of people having their account locked right after making a large purchase/ bank transfer...
People sending coins to or from Coinbase but never having them show up...
This shows all the signs of a Ponzi scheme about to collapse.
If you have any coins on Coinbase and still have access to your account, I suggest you withdraw them right now.
(If you are still able to...)
Balance currently zero. Still hope it is not true since it was so convenient to buy and sell BTC with them for fiat. Guess there's lots of alternatives though. I only use their services a few times a year. |
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wantjokull
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June 12, 2017, 02:01:47 AM |
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Seems to me a rumour. I'm using it since one year and two days ago only I had withdrawn $ 400 worth of bitcoins. The confirmation was immediate and I had no problem processing the btc. Don't know why everybody is making it so alarming. Coinbase is having great plan with new goals. They will not leave their customers as it is and run away. They are already profitable organisation and always will be.
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ktabb
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June 12, 2017, 02:05:19 AM |
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I wouldn't be surprised if coinbase blew up into a mt gox type situation. They are a pretty crappy service. Their fees are obscene and their limitations are crippling. And yeah, people get locked out of their accounts at times of high volatility, which is when everyone wants to get into their accounts. Seems unethical to me. TBH I kind of hope they crash.
btw I have used them in the past and don't anymore.
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MysticOne
Jr. Member
Offline
Activity: 59
Merit: 10
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June 12, 2017, 03:25:51 AM |
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I have only been using Coinbase for a couple months now but am yet to run into any problems. I think many of the issues people are having have to do with them breaching the Terms of Service contracts.
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Shiroslullaby (OP)
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June 12, 2017, 03:56:35 AM |
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"I bought $20 worth of Bitcoins and it was fine so the site must be working!"
Have you looked at the forums?
There are multiple people with 5 figures taken from their bank account weeks ago and still nothing in their Coinbase account,
page after page of people with missing coins in their accounts or randomly locked accounts with money in it and no response from support for weeks/ months.
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Searing
Copper Member
Legendary
Offline
Activity: 2898
Merit: 1465
Clueless!
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June 12, 2017, 03:57:59 AM |
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Never have a problem cashing out from mining on coinbase...so not sure wtf you are talking about....and it is usually in 5,000 usd chunks
just saying.....
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Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/2021. It also works with Windows 10 and likely 11 and allows 16 bit DOS game doors on the same Win 10 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:) |
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xypos
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June 12, 2017, 03:59:48 AM |
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Seems like you're right about this. These are the exact same problems that all scam exchanges go through before they finally close down. Frozen accounts, locked funds, deposits and withdrawals not working on time etc. Worst of all, i just don't see why they are not answering to these requests for help at all. The least they could do in a difficult situation is to respond on the community site/via email to the victim. Extremely unprofessional, if not an outright scam. Don't use them until all this is resolved. |
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bones261
Legendary
Offline
Activity: 1806
Merit: 1828
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June 12, 2017, 04:38:09 AM |
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Never have a problem cashing out from mining on coinbase...so not sure wtf you are talking about....and it is usually in 5,000 usd chunks
just saying.....
If you recently mined them, they probably can never be traced to online gambling sites or questionable tor markets. So they wouldn't have any excuse to hold you up, probably. |
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Searing
Copper Member
Legendary
Offline
Activity: 2898
Merit: 1465
Clueless!
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June 12, 2017, 04:45:33 AM |
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Never have a problem cashing out from mining on coinbase...so not sure wtf you are talking about....and it is usually in 5,000 usd chunks
just saying.....
If you recently mined them, they probably can never be traced to online gambling sites or questionable tor markets. So they wouldn't have any excuse to hold you up, probably. hmmm.....I'm in the USA that may make a diff...anyway...just saying....they are mined LTC to BTC so the BTC address is in use... but really , had no idea coinbase has a 'blacklist' on coin coming from gambling sites or whatever? anyway, this is my experience.....just tossing it out there...I've no issues |
Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/2021. It also works with Windows 10 and likely 11 and allows 16 bit DOS game doors on the same Win 10 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:) |
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Yuuto
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June 12, 2017, 04:55:57 AM |
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Never have a problem cashing out from mining on coinbase...so not sure wtf you are talking about....and it is usually in 5,000 usd chunks
just saying.....
If you recently mined them, they probably can never be traced to online gambling sites or questionable tor markets. So they wouldn't have any excuse to hold you up, probably. hmmm.....I'm in the USA that may make a diff...anyway...just saying....they are mined LTC to BTC so the BTC address is in use... but really , had no idea coinbase has a 'blacklist' on coin coming from gambling sites or whatever? anyway, this is my experience.....just tossing it out there...I've no issues They freeze accounts when they find that you are constantly using gambling sites/dark web sites. Although they let you withdraw without having to prove anything to them it's still a pain in the ass to see that your wallet is suspended. If you have no issues, that's great. However based on the proof that have been posted on reddit and their own coinbase forum i think that it is entirely irresponsible for the support staff to just ignore them like that. Maybe the user's at fault, but still, at least give a response. |
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bones261
Legendary
Offline
Activity: 1806
Merit: 1828
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June 12, 2017, 05:21:00 AM |
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Never have a problem cashing out from mining on coinbase...so not sure wtf you are talking about....and it is usually in 5,000 usd chunks
just saying.....
If you recently mined them, they probably can never be traced to online gambling sites or questionable tor markets. So they wouldn't have any excuse to hold you up, probably. hmmm.....I'm in the USA that may make a diff...anyway...just saying....they are mined LTC to BTC so the BTC address is in use... but really , had no idea coinbase has a 'blacklist' on coin coming from gambling sites or whatever? anyway, this is my experience.....just tossing it out there...I've no issues Yes, if you use freshly mined BTC or LTC, they really do not have much of a history. However, I could see someone acquiring their BTC from a small exchange that is lax on their AML and KYC policies. That person could be only a transaction or two away from a transaction that Coinbase deems "blacklist" worthy. Coinbase could interpret this as a feeble attempt to mix coins and suspend the account anyway. |
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johnwest
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June 12, 2017, 05:41:18 AM |
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I have only been using Coinbase for a couple months now but am yet to run into any problems. I think many of the issues people are having have to do with them breaching the Terms of Service contracts.
Using coinbase from the start and never had any problem with it. As someone else said, it depends on which country you are in. Recently they started charging fees for transactions and many of the people complained about it. I hope they wont scam us in the future. |
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Singwala
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June 12, 2017, 06:10:47 AM |
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coinbase is a good wallet I think there's some issue but coinsbase fix that a soon as possible
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Lordshiva
Full Member
Offline
Activity: 840
Merit: 126
Welcome back 🙏
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June 12, 2017, 07:13:44 AM |
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I dont think soo,i have been using coinbase regularily since a long time,alomost 2-3 years now and i am still using it and login almost every day in my coinbase account.I never experienced any issue with coinbase and i still trust coinbase despite these rumours.
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HaXX0R1337
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June 12, 2017, 07:19:01 AM |
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there are countless forums where people's money is strait frozen, they cannot sell, they cannot buy, they cannot transfer, they cannot cashout. Effectively coinbase has stolen their money.
There are countless complaints about coinbase confiscating peoples money and never unlocking their account but they would point us out to their terms of conditions that you cannot use their wallet for gambling activities and they would show that one and would never release your funds which i think is outrageous and so is the reason i would avoid them. |
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thecodebear
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June 12, 2017, 07:22:00 AM |
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coinbase has been having some problems, but i don't see why anyone would think they will end up in a mt gox situation. I don't think any crypto exchange will end up in a mt gox situation, and certainly not coinbase. But they do need better customer service and need to work on some kinks in their software. They are currently working on raising a ton of new money so hopefully they'll hire a bunch new support people and developers to fix problems quicker.
My personal experience has mostly been perfectly positive, except this year when I decided to get back into bitcoin, after not having even visited coinbase in probably two years, the buying on my account was locked. And it took coinbase support literally like a month to finally fix it for me. They were emailing me back once a week or so, and finally one day got it all fixed. It was very annoying as I watched bitcoin price rise from $1100 to $1300 in April waiting for them to fix my account. Apparently it was just an account problem from changes they had made, sure seemed like the thing that shoulda been a 30 minute fix, though I guess if they were having many many problems like this I could been way down the list of people whose accounts they needed to fix.
Anyways other than that, and their site not being able to handle traffic a few times recently, they seem perfectly fine. I'm assuming their new funding should solve these issues in the future.
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SimmonenY
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June 12, 2017, 08:50:29 AM |
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They have their struggles and I personally have disappointed in their services but I wouldn't go as far as calling them the next Mt Gox.
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Shiroslullaby (OP)
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June 15, 2017, 11:25:13 PM |
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3 days in a row where site has gone down during the day.
You would think a company seeking evaluation as being worth a Billion dollars would be able to keep their site online.
Or hire support to actually answer tickets. (Still waiting 3 weeks to hear from support.)
DO NOT USE COINBASE IF YOU HAVE ANY OPTION OF ALTERNATIVE!
YOUR MONEY IS NOT SAFE WITH THIS COMPANY.
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