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Author Topic: High risk to Coinbase- wtf  (Read 3351 times)
elor70
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September 08, 2013, 05:47:16 PM
 #21

Good thing i dont use coinbase Smiley

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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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September 08, 2013, 06:45:28 PM
 #22

I had a transaction reversed due to being 'high risk' as well.  I emailed support, and it took a week for them to get back to me, but the support guy said that he put me on the whitelist so that it doesn't happen again.  After that, I haven't had any problems and have the instant buy enabled now too.  The nice thing about the instant buy is you don't even have to wait for the buy transaction to be confirmed and they post the btc in your coinbase wallet to use.  I've sent them out to other wallets before they were ever confirmed and haven't had any issues.
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September 10, 2013, 11:44:18 AM
 #23

why are peoples doing propaganda against crypsto currencies and companies which dealing in these its agenda of NSA or what happen many satisfied with services and still this is on why

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October 21, 2014, 04:41:22 PM
 #24

Same story with me. Verified my identity. Tried to buy $5 worth of btc so I could use the platform for greater amounts. I am a bitcoin miner. They sent me an email back after 7 days saying I was high risk and it looked like fraud. Are you fin kidding me. $5 fraud. Seriously wtf. Now I am worried that I gave them my identity info.
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October 24, 2014, 08:09:33 AM
 #25

I thought they were one of the legit companies, what a shocker.
I will have to stay with the risky alternatives, Localbitcoin  ^Frown^

You saying they farming ID's for NSA? ^Cry^

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October 24, 2014, 10:22:32 AM
 #26

Good thing that i do not use coinbase.
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October 24, 2014, 12:17:14 PM
 #27

I had not heard about problems with Coinbase. I've used it a few times to pay for Humble Bundle offerings - generally smooth transactions. We're talking about coinbase dot com, I assume.

Good luck with your various issues. I'll follow the thread with interest.

Please forgive the self-quote, but I have definitely changed my mind since last year.

I recently cancelled my Coinbase account because of reports elsewhere on the forum that they were tracking how people spent their BTC. Allegedly, when they found that someone had spent BTC in a way they did not find acceptable, they cancelled the user's account. People claim they were attempting to enforce US laws, specifically "no online gambling", and were cancelling accounts if their tracking showed that a customer's BTC had passed through a known gambling site.  Some forum voices defended the practice, pointing out that since Coinbase is in San Francisco it has to comply blah blah. Other voices decried the practice of making "good BTC" and "bad BTC" - the "taint" issue - because it compromises fungibility. I side with the latter view. I now also avoid BitStamp and Circle for similar reasons - not because I want to gamble (although it is perfectly legal where I live) but because I find these policies to be repugnant and dangerous.

Read the Terms of Service carefully for any of these companies. I know - nobody reads ToS boilerplate - but this is a very big deal that could make/save you a lot of grief.
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October 24, 2014, 12:29:39 PM
 #28

Ah, thanks for that titbit.
I will avoid them at all cost. Nobody needs to track your spending or use of Bitcoin for no reason.
Do they want to make the world a Police state?

If I want to gamble, or surf porn, or fund a prostitute, it should be my choice and nobody should need to know that.

Do I need to know, what they do with their fiat money? ^^Grind^^
We live in a world with no privacy, the only place, where you feel safe, is in the toilet. ^Frown^

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October 24, 2014, 03:26:20 PM
 #29

Hm....so far I've just used Coinbase to buy small amounts of bitcoin and  then just transfer it to an offline wallet.  Maybe I should start looking closer into localbitcoins now.

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October 24, 2014, 07:48:06 PM
 #30

is this a common problem with coinbase?
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October 24, 2014, 11:28:23 PM
 #31

is this a common problem with coinbase?

Yes, I've seen posts about this happening a few times, even with accounts that are verified and been in good standing for a while.
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October 25, 2014, 06:54:46 AM
 #32

so how do you avoid this scenario?
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