COINBASE.COM STRIKE ME AGAIN!!!! RESETS MY ACCOUNT AFTER 18 days VERIFIED

[fuggedit]

So my whole motivation for ordering from them was the whole, instant deposit/withdrawal service which in theory sounds great. Unfortunately this is not the savior of the bitcoin community that they would let us believe. After a few bad transactions with them recently, one in which I was not informed until a few hours prior to my btc I bought a week prior getting deposited one of the checking account I linked had no funds on it. Which sucks because the coins appreciated at a significant rate and I lost all of that earned appreciation with no notice at all, and I easily could've bought them with my funds in my other acct. So I chalk it up as an L and move on. But today I log in and see this:


"It's been 16 hours since your 1st bitcoin purchase. Come back in 28 days and we will verify your account"


DOUBLEHUHWTFHuh!! I registered over 2 and a half to 3 weeks ago and was on my was to being fully verified, was practically counting the fukking days. I hate these people. Should I cancel my account? I try contacting them, but there is no number I can find to a service dept.


What do you all think? What would you do?

[fuggedit]

Ahh this is rich. It gets better. Every time I try to email them on their site it says" We have not sent your email yet
"
Perhaps one of these articles will help you get your answer..."

Similarly, I got this from them the yesterday with their other message of " Sorry we have not sent your BTC yet, Perhaps one of these sharp sticks in the eye will help you get in line, Douche"

[justmyname]

one of the checking account I linked had no funds on it. Which sucks because the coins appreciated at a significant rate and I lost all of that earned appreciation with no notice at all, and I easily could've bought them with my funds in my other acct.

When you bought your coins you selected the empty account. That is probably the root of your problems with CoinBase. I only have one account linked, so I'm not 100% sure you select the account before buying BTC or not.

So far. CoinBase is the only exchange that I haven't had any problem with. It looks to me like CoinBase is just making sure you're not a ripoff artist. So just go through the steps they are telling you to implement.

[btc4ever]

I would not use any service that requires verifying my identity in the first place.

Instead I would attend a local Satoshi Square, or start one of my own.  It is a great way to meet people in the community, build trust relationships, and avoid all the banks and KYC/AML nonsense.  And it can scale world-wide regardless of what big brother does.

http://letstalkbitcoin.com/satoshi-square-an-homage-to-wall-st/#.UifppJGFG0w

http://unspy.wordpress.com/2013/07/26/why-the-only-real-way-to-buy-bitcoins-is-on-the-streets/

[Hamguy]

There is no reason for coinbase to Hold your account transaction for 4 days other than trying to get your personal information which is bs in my opinion.

[Hamguy]

I would not use any service that requires verifying my identity in the first place.

Instead I would attend a local Satoshi Square, or start one of my own.  It is a great way to meet people in the community, build trust relationships, and avoid all the banks and KYC/AML nonsense.  And it can scale world-wide regardless of what big brother does.

http://letstalkbitcoin.com/satoshi-square-an-homage-to-wall-st/#.UifppJGFG0w

http://unspy.wordpress.com/2013/07/26/why-the-only-real-way-to-buy-bitcoins-is-on-the-streets/

I have a great idea for a Bitcoin website but have no idea how to set it up and how to make it secure 

[rampantparanoia]

There is no reason for coinbase to Hold your account transaction for 4 days other than trying to get your personal information which is bs in my opinion.

how about making sure your funds clear? coinbase works differently compared to other exchanges. when you place an order, CB reserves those bitcoins and waits for your payment to clear.

Other exchanges, like MtGox, force you to send your money first - which takes around 4 days depending on deposit method. Dwolla, for example, takes about 5 days. And then another 30min to an hour from Dwolla to CampBX.

As you can see, the hold is still present, the only difference is whether its before or after you place your order.

source: I've done business with CampBX and Coinbase.

[Hamguy]

There is no reason for coinbase to Hold your account transaction for 4 days other than trying to get your personal information which is bs in my opinion.

how about making sure your funds clear? coinbase works differently compared to other exchanges. when you place an order, CB reserves those bitcoins and waits for your payment to clear.

Other exchanges, like MtGox, force you to send your money first - which takes around 4 days depending on deposit method. Dwolla, for example, takes about 5 days. And then another 30min to an hour from Dwolla to CampBX.

As you can see, the hold is still present, the only difference is whether its before or after you place your order.

source: I've done business with CampBX and Coinbase.

I understand Banks take a long time to transfer the money back and forth but look at something like paypal for example, its instant. its purposely done to force its user base to give up personal information for ease of use.

[rampantparanoia]

I understand Banks take a long time to transfer the money back and forth but look at something like paypal for example, its instant. its purposely done to force its user base to give up personal information for ease of use.

ever received an eCheck on paypal? It takes days to clear. The bottleneck is the bank, not the exchange.

In fact, the ONLY reason paypal offers instant transactions is because they know who you are. So, how does that make Coinbase any different?

[saddambitcoin]

So my whole motivation for ordering from them was the whole, instant deposit/withdrawal service which in theory sounds great. Unfortunately this is not the savior of the bitcoin community that they would let us believe. After a few bad transactions with them recently, one in which I was not informed until a few hours prior to my btc I bought a week prior getting deposited one of the checking account I linked had no funds on it. Which sucks because the coins appreciated at a significant rate and I lost all of that earned appreciation with no notice at all, and I easily could've bought them with my funds in my other acct. So I chalk it up as an L and move on. But today I log in and see this:


"It's been 16 hours since your 1st bitcoin purchase. Come back in 28 days and we will verify your account"


DOUBLEHUHWTFHuh!! I registered over 2 and a half to 3 weeks ago and was on my was to being fully verified, was practically counting the fukking days. I hate these people. Should I cancel my account? I try contacting them, but there is no number I can find to a service dept.


What do you all think? What would you do?

To me it sounds like your frustration is with the banking industry, not Coinbase or bitcoin.  Coinbase doesn't even require you to scan and provide various forms of ID like other exchanges.  The 30 day count begins after your first bitcoin buy or sell.  

Sorry to say but its not their fault you tried to make a purchase from an account with insufficient funds!

edit: if you dont want to wait the 3-4 days for your BTC to arrive until you get level 2 verified, seek out other ways of buying bitcoin...localbitcoins or #bitcoin-otc  

[greyhawk]

And it can scale world-wide regardless of what big brother does.

Aaaaaaahahahahahahahahahaha. You were born in the 90s, weren't you?

[fuggedit]

I am not so angry about the cancelled order --albeit a few hrs before order was to go in-- My beef is that they totally knocked me back to square one of having to wait 30 more days after waiting almost 25 day already. I was only a week away from that goal of being lvl 2 verified finally after literally couting rhe days like a kid on christmas so I can start trading them. And alas, right on the cusp of realizing that goal, it was ripped away for no reason! At least that's all I know as they haven't responded to me and my dozens of attempts to contact them about it. All I hear is crickets.....

[fuggedit]

And I cannot tell you how infuriating it is to have several major and costly dilemmas with an institution only to try and contact them via phone to realize that 1) they dont have a phone number to contact them at. 2) They are not even listed in San Franciso where they are supposedly based. I tried many avenues, and spoken to dozens of directory operators in the bay area to come to find they are not even listed..... What does that say.....But I am the high risk one here....Not the one that holds all of my bank info, soc sec, credit hist, Bday, name, several hundreds of ddollars I sent them in holding, etc... But I cannot get so much as a phone number to contact them at....Screwy I tell ya.

[fuggedit]

There is no reason for coinbase to Hold your account transaction for 4 days other than trying to get your personal information which is bs in my opinion.

how about making sure your funds clear? coinbase works differently compared to other exchanges. when you place an order, CB reserves those bitcoins and waits for your payment to clear.

Other exchanges, like MtGox, force you to send your money first - which takes around 4 days depending on deposit method. Dwolla, for example, takes about 5 days. And then another 30min to an hour from Dwolla to CampBX.

As you can see, the hold is still present, the only difference is whether its before or after you place your order.

source: I've done business with CampBX and Coinbase.

They should have something in place to avoid the situation I faced where I had 2 bank accts linked, but incorrectly chose the one that did not have enough to cover it. There should be something to let the buyer know immediately. Otherwise many will just assume it was fine until the day ofm when 4 hours before its going in, its cancelled.. Absolutely no respect for the needs of the buyer here, if you dont agree, tell me why this is such a terribly unneeded feature? Oh yea, one of the accts was removed WITHOUT MY CONSENT. Is it not illegal for them to remove or tamper with my bank acct info behind my back while I am llogged out. This is the biggest violation imo..

[rampantparanoia]

There is no reason for coinbase to Hold your account transaction for 4 days other than trying to get your personal information which is bs in my opinion.

how about making sure your funds clear? coinbase works differently compared to other exchanges. when you place an order, CB reserves those bitcoins and waits for your payment to clear.

Other exchanges, like MtGox, force you to send your money first - which takes around 4 days depending on deposit method. Dwolla, for example, takes about 5 days. And then another 30min to an hour from Dwolla to CampBX.

As you can see, the hold is still present, the only difference is whether its before or after you place your order.

source: I've done business with CampBX and Coinbase.

They should have something in place to avoid the situation I faced where I had 2 bank accts linked, but incorrectly chose the one that did not have enough to cover it. There should be something to let the buyer know immediately. Otherwise many will just assume it was fine until the day ofm when 4 hours before its going in, its cancelled.. Absolutely no respect for the needs of the buyer here, if you dont agree, tell me why this is such a terribly unneeded feature? Oh yea, one of the accts was removed WITHOUT MY CONSENT. Is it not illegal for them to remove or tamper with my bank acct info behind my back while I am llogged out. This is the biggest violation imo..

so you want to give them more control over your bank account, by checking your balance before initiating a withdrawal?

did they close your bank account? if not, then no violation took place - they're simply mitigating risk by removing a CONFIRMED INSUFFICIENT BALANCE account.

at the end of the day, it is your own responsibility - don't buy shit you can't afford. CHOOSE the right account, and guess what? no problems at all.

I don't agree with them resetting your account to start from day 0, but I agree with them on everything else.
instead of resetting it, perhaps they should have simply forced you to confirm your identity before making more purchases.

[Pale Phoenix]

I can't imagine why Coinbase wants to wait a full 30 days before extending you credit, considering that on your first transaction you basically bounced a check on them. LOL

Coinbase isn't your babysitter. You made the mistake, now wait out your time in the corner like a good boy. Sheesh.

[fuggedit]

There is no reason for coinbase to Hold your account transaction for 4 days other than trying to get your personal information which is bs in my opinion.

how about making sure your funds clear? coinbase works differently compared to other exchanges. when you place an order, CB reserves those bitcoins and waits for your payment to clear.

Other exchanges, like MtGox, force you to send your money first - which takes around 4 days depending on deposit method. Dwolla, for example, takes about 5 days. And then another 30min to an hour from Dwolla to CampBX.

As you can see, the hold is still present, the only difference is whether its before or after you place your order.

source: I've done business with CampBX and Coinbase.

They should have something in place to avoid the situation I faced where I had 2 bank accts linked, but incorrectly chose the one that did not have enough to cover it. There should be something to let the buyer know immediately. Otherwise many will just assume it was fine until the day ofm when 4 hours before its going in, its cancelled.. Absolutely no respect for the needs of the buyer here, if you dont agree, tell me why this is such a terribly unneeded feature? Oh yea, one of the accts was removed WITHOUT MY CONSENT. Is it not illegal for them to remove or tamper with my bank acct info behind my back while I am llogged out. This is the biggest violation imo..

they should have simply forced you to confirm your identity before making more purchases.

I did verify my identity.....

[fuggedit]

I can't imagine why Coinbase wants to wait a full 30 days before extending you credit, considering that on your first transaction you basically bounced a check on them. LOL

Coinbase isn't your babysitter. You made the mistake, now wait out your time in the corner like a good boy. Sheesh.

No i will not, I will instead vote with my wallet. And not do business with them ever again and I persuade others to do the same.

[fuggedit]

I can't imagine why Coinbase wants to wait a full 30 days before extending you credit, considering that on your first transaction you basically bounced a check on them. LOL

Coinbase isn't your babysitter. You made the mistake, now wait out your time in the corner like a good boy. Sheesh.

I had actually made sevaral deposits of 1-4 btc before this, a total of maybe 780 bucks... so screw you assumptions make an ass out of urself you know...

[31337157]

I can't imagine why Coinbase wants to wait a full 30 days before extending you credit, considering that on your first transaction you basically bounced a check on them. LOL

Coinbase isn't your babysitter. You made the mistake, now wait out your time in the corner like a good boy. Sheesh.

No i will not, I will instead vote with my wallet. And not do business with them ever again and I persuade others to do the same.

Dude, you messed up so take responsibility for it and walk away with a lesson learned. You may be a nice guy, but security measures don't measure that, they see a withdraw from an empty bank account and flag your Coinbase account.

These new measures are things you will have to get used to as we break away from the old babysitting ways of Banks and Credit Cards. CB could enforce scummy bank tactics and charge you a hefty fee for NSF and the sort, but they don't. Take a look at the bigger picture and realize that waiting another month isn't that bad.