Stay away from Coinbase

[pipelight1]

after clearing for your first purchase, do the transactions go a lot faster or do they still need to wait for the ACH payments (4 business days) to be final? i'm still waiting on mine, so i will probably find out.. in another week or so.

Ok, so here we go. It says I should recieve my 65 USD by next Friday the 29th. Since all this was mined and not purchased I will only cry a little if I get screwed.

https://lh3.googleusercontent.com/-S59KCeojyrI/UpJYLjxGsQI/AAAAAAAAQRg/xXh1sKKu-hY/s0/Screen%2520Shot%25202013-11-24%2520at%25201.48.16%2520PM.png

https://lh3.googleusercontent.com/-zevo0tzJdXo/UpJZELisIzI/AAAAAAAAQSA/EWChBVsAlIg/s0/Screen%2520Shot%25202013-11-24%2520at%25201.51.57%2520PM.png

https://lh4.googleusercontent.com/-jRZqmQe2sYg/UpJaJsXbJFI/AAAAAAAAQSM/Dufj-bL4RK0/s0/Screen%2520Shot%25202013-11-24%2520at%25201.57.04%2520PM.png

Michael

you might want to remove that picture.. unless you are okay with your first and last name to be available to the public.

Me too....

I am just looking for the investment... But the warnings on this site scare the shit out of me... Plus I am OLD ! How do I write Bitcoin into my will... :oP

I buy a coin and want to use it I dont want to do so without an easily reached method. It is way to much trouble to not have an online wallet. Say coinbase or such... I don't see what is the point of this. Maybe a chance to get in on a good investment. But if your not the owner of Virgin Airlines or the winklefoss twins what's the point. A stupid (if Large) invesment unless you are supper tech savy. These guys can afford to pay some of you guys to make their moves. The avg. guy is a long way to using these coins. Thus they will plummet at some point, then rebound slowly. Only insiders and those with lots of contacts may apply...

Everything  wrote about encryption is deep science to 99% of humans, and to me, I am an investor and have plenty of cash, credit cards, etc. Bitcoin is limiting the usage by allowing creative scam artists into the source. So I have to carry my favorite book with so I can turn to page 9 and get my password written backwards ? Oops, sorry, my wallet didn't open, let me try again, there we go... Here is your .00012 bitcoin for my coffee. WTF... It's Cold !

Wish I had better contacts in the South Florida area... cough cough...

[beetcoin]

coinbase doesn't necessarily scam you.. they just cancel your transaction after 4 days. if you are looking to invest, you should go with them.. just buy a small amount at first, then once you're a verified level 2, you can buy up to 50 coins per day i believe.

with bitcoins, you don't need to worry about your will. you can just give it to the person you want to before you die.

[pipelight1]

If coinbase sucks (I have a pending transaction with them) what is everyone using to get USD to BTC? It seems like everyone hates every exchange so what is the go to place?  BTC-E seems risky and impossible.  Mt. Gox seems to have issues.  What are the real alternatives?

I can sell you some. But first you must cash a Money order I send you from my homeland here in Africa. I am the only surviving relative of King mumbi here in Kenya. And to my future friends i am willing to share such a large fortune. You will only need to cash this money order. You may keep a wealthy sum of many dollars for you and your family. Only send me a small % so I can give it to the poor...

Gonna stick with coin base and try to get to level II

Barry

[caminilegroup]

If coinbase sucks (I have a pending transaction with them) what is everyone using to get USD to BTC? It seems like everyone hates every exchange so what is the go to place?  BTC-E seems risky and impossible.  Mt. Gox seems to have issues.  What are the real alternatives?

I can sell you some. But first you must cash a Money order I send you from my homeland here in Africa. I am the only surviving relative of King mumbi here in Kenya. And to my future friends i am willing to share such a large fortune. You will only need to cash this money order. You may keep a wealthy sum of many dollars for you and your family. Only send me a small % so I can give it to the poor...

Gonna stick with coin base and try to get to level II

Barry

You sir deserve a thumbs up for that. I almost forgot about that ridiculous scam. 

[champbronc2]

This thread is a joke.

You're all idiots.

Coinbase is not a scam because they have anti-Fraud measure. Coinbase is not a scam because they took away your "theoretical" profit. Coinbase is not a scam because you cannot read their terms of service.

You're all mad that you didn't read before you purchased. Did any of you graduate from high school?

[mvidetto]

This thread is a joke.

You're all idiots.

Coinbase is not a scam because they have anti-Fraud measure. Coinbase is not a scam because they took away your "theoretical" profit. Coinbase is not a scam because you cannot read their terms of service.

You're all mad that you didn't read before you purchased. Did any of you graduate from high school?

Yeah so why the fuck is my sale still bouncing around 6 days later? It should already be in my bank account! I normally wouldn't care much but it's for 40 btc ~ 33k.  Like WTF...

[niothor]

This thread is a joke.

You're all idiots.

Coinbase is not a scam because they have anti-Fraud measure. Coinbase is not a scam because they took away your "theoretical" profit. Coinbase is not a scam because you cannot read their terms of service.

You're all mad that you didn't read before you purchased. Did any of you graduate from high school?

Well , you're really helpful ,aren't you?

[tyz]

thanks for sharing this information. i am using coinbase as main wallet but had some little poblems the last time. i'll transfer all my btcs to my offline wallet now.

[miken123]

I've had good luck dealing with Coinbase but I do worry if I try to sell when their's a run on BTC or an (even temporary) 'crash' - will they be able to deliver?
Or will they do something ludicrous like 'due to heavy volume we are suspending selling your BTC' sort of thing..
But then again there seems to be no guarantee on this anywhere..

Maybe the best bet is to have many accounts in many exchanges where you can sell small amounts of your btc at a moment's notice?

[Gator-hex]

This is one of the risks in BTC. This is downside if govt wont support and we have nowhere to go to complain any issues we have on BTC transactions. For now, posting and warning about the scam is the best way to counter those scammers. Thanks for the warning!

Your statement is not true, see..

“Fraudsters are not beyond the reach of the SEC just because they use Bitcoin or another virtual currency to mislead investors and violate the federal securities laws,”

http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370539730583#.Un-nYiejN3U

Governments have to support what they tax.

[gsupp]

I recently signed up with Coinbase and purchased about $300 worth of BTC on Friday. By the following Monday the ACH had gone through and the money was out of my bank account. I'm still waiting the 5 business days until the purchase clears (Friday). The delay is really annoying and their price per BTC is always a bit high, but there aren't many options in the US.

[miken123]

I sold a few last night on Coinbase. 
It says it would take 2 business days to deposit the money - so their estimate is on Monday.
I'll let you know if it goes as smoothly as they say it should - so far so good.

[pipelight1]

I sold a few last night on Coinbase. 
It says it would take 2 business days to deposit the money - so their estimate is on Monday.
I'll let you know if it goes as smoothly as they say it should - so far so good.

I got my "ONE" coin at the price they set and responses to emails right away. Alex, seems to be a great guy and gave me answers. That is all I know. I am affraid to open my Wallet as I don't want money stolen.  Will just wait for a while. Maybe when it hit 4K...  
For those of you looking for a stock ride. Try DSS (Document Security Systems). They filed suit against Apple. The stock belongs up around 3 bucks. 2Bucks on earnings alone. Soared yesterday after the announcement "of course". But dont let that deter you, look at their chart, read the threads on IHUB and you will see this has a Huge markman coing up in February which will drive it up 2 to 3 times what it is now. Patent plays like this are huge. ANd you can use your bitcoin profits in Cash via Etrade to make another Taxable fortune.

[odolvlobo]

For those of you looking for a stock ride. Try DSS (Document Security Systems). They filed suit against Apple. The stock belongs up around 3 bucks. 2Bucks on earnings alone. Soared yesterday after the announcement "of course". But dont let that deter you, look at their chart, read the threads on IHUB and you will see this has a Huge markman coing up in February which will drive it up 2 to 3 times what it is now. Patent plays like this are huge. ANd you can use your bitcoin profits in Cash via Etrade to make another Taxable fortune.

Can you say pump and dump?

[ldh37]

I just signed up with Coinbase last Friday and the bank verify deposits completed yesterday.  I only created an account to sell some of the btc I've mined.  I've read several horror stories but, it seems like every exchange out there has plenty of them.  Since I went to the trouble to create the account and get level II verified I think I'll go ahead and try to sell a small amount and see what happens.  I will post the results.

[beetcoin]

my funds have gone out to coinbase.. still waiting on my BTC to show up. the estimated time was dec 2.

after you make your first purchase, do you become verified and the process doesn't take as long?

[bitmarket.io]

I'm new to cryptocurrency but already have a bit of advice to others who are new:

Avoid Coinbase like the plague.

I jumped through their hoops last week with scans of a driver's license and utility bill, then verified my bank account Monday morning.

I immediately placed an order for .5 BTC, which cost $288.57 with fees.

Then I was told they had exceeded their buy order for the day, so I wouldn't get anything until Friday - and that I would receive the exchange rate Friday.

So I wait all week.  They withdrew my money on Wednesday, so I had no reason to believe the transaction wouldn't go through.

Until Friday morning, when they canceled, saying it was a "high risk transaction" and that I should "try again in a few weeks."

A "high risk transaction" - after they have scans of my utility bill and driver's license, and TOOK THE MONEY from my bank account?

"Try again in a few weeks" - why, so they have another chance to gamble with my money?

They blame the "high risk" label on a "robot" they claim to have no control over.

I don't believe that, and hope you won't either.  

Avoid these con artists.  I'm already out $100+ on this small transaction because they failed to deliver what they promised.

I never had any problems with coinbase. Actually only have positive things to say about them.

I never had to give them my drivers license or utility bills. I just entered my info, it verified, done. Then wait 30 days to buy 50BTC/day.  All's been going great.

The OP may just be a sketchy person that was caught in their filter.  May have a tainted record of high number disputes. Who knows. There is a reason for everything though.

Also use your brain. Why would you buy futures during times of such volatility? Why didn't you just wait until they had coins they could guarantee you the price for right then? Think.

[ersimo]

Thankfully, I have never had an issue with Coinbase thus far (have purchased 6 BTC). But I do constantly hear horror stories, so I consider myself lucky!

[Brighterbits]

So is the only other option for US based buyers to meet locally with a seller?
And after you get your coins, what if you need to sell fast and get your fiat quickly? what do you use for that?

Signed up for coinbase, but they were saying I had to wait til thursday next week and who knows what happens with BTC by then.. there has to be a better US based exchange, no?

[ldh37]

So is the only other option for US based buyers to meet locally with a seller?
And after you get your coins, what if you need to sell fast and get your fiat quickly? what do you use for that?

Signed up for coinbase, but they were saying I had to wait til thursday next week and who knows what happens with BTC by then.. there has to be a better US based exchange, no?

Don't know.  I used the following exchange comparison list - https://en.bitcoin.it/wiki/Buying_bitcoins.