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Pipdips
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September 11, 2019, 05:44:43 PM
Last edit: September 11, 2019, 06:12:30 PM by Pipdips
 #1

Coinbase is the O.G. of Bitcoin  Smiley

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September 11, 2019, 06:20:15 PM
 #2

Coinbase is the O.G. of Bitcoin  Smiley

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I've got no complaints about Coinbase Pro. It's my primary method for cashing out BTC. But there's a couple important things to note. For one thing, you need to be very careful about what outputs you send there. Sending them coins directly or within a couple hops from questionable sources (including casinos and similar businesses) can get your account closed.

For another thing, the IRS is crawling up their ass. They were obviously the primary source for the IRS mass mailing campaign that started last month. My conclusion is: don't misreport any transactions you send to/from Coinbase. It's pretty easy to get away with some off the books spending and profit taking, but not with funds that touched your Coinbase account.

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September 11, 2019, 06:30:24 PM
 #3

September 12th
Coinbase Pro vs. Binance
No contest.
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September 11, 2019, 08:12:28 PM
 #4

I've been trading over at Coinbase Pro for a long time as well, no problems with 'em except I also make sure that the funds I move to and from the exchange aren't directly linked to any gambling services, such as the funds I withdraw and deposit to FortuneJack as the last time I've checked, Coinbase bans accounts that are linked to gambling sites. Not entirely sure if this is enforced for Coinbase Pro, but I'm still not taking any chances.

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September 12, 2019, 01:10:25 AM
 #5

For another thing, the IRS is crawling up their ass. They were obviously the primary source for the IRS mass mailing campaign that started last month.
Did you or anyone you know receive anything from this gigantic mass mailing campaign?

There are over 2.5 million registered usernames at this message board. Did any of us get a letter?
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September 12, 2019, 02:05:58 AM
 #6

Coinbase is the O.G. of Bitcoin  Smiley

Aka, The Best in the Biz
The Supreme Bitcoin Source
The Crypto Papadopoulos


Where is this going? Is this some kind of an advertisement?


I've got no complaints about Coinbase Pro. It's my primary method for cashing out BTC. But there's a couple important things to note. For one thing, you need to be very careful about what outputs you send there. Sending them coins directly or within a couple hops from questionable sources (including casinos and similar businesses) can get your account closed.


Yes, need to be careful about that.
I heard accounts getting frozen by simply depositing at a online gambling site.
Worse is they just want the freebies with it after the deposit and yet they still froze the account. Another worse thing? He just did it once then it already exploded.

 
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September 12, 2019, 02:47:36 AM
 #7

Where is this going? Is this some kind of an advertisement?.
No, it's just the day when Binance decided to abandon all of it's loyal USA clients. To tell you the truth if I did not read and post here at BitcoinTalk forums, I would have no clue that Binance is shutting USA clients down today, counting in like 1 hour, but that is of no concern for Binance.  But I do like how Coinbase does not play around like that.

I think you know CBase Pro is where it is at now.  Who cares if I am unfamiliar with using the CBase exchange and have to spend time to learn all the damn buttons and get situated at a different exchange... Heck this message board invites every damn person from all four corners of the globe to participate in this discussion, and I like that.
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September 12, 2019, 06:45:11 AM
 #8

It's sad that Coinbase doesn't support my country, I've heard about Coinbase transactions, the fees are very cheap and the transactions are processed very fast and have a professional team.
I think Coinbase should really expand to countries in Asia to get even bigger volumes in the future.

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September 12, 2019, 03:16:31 PM
 #9

I guess that you are from the United State, that is probably why it seems you are supporting Coinbase, so where was Coinbase that binance came to overshadow them? You are showing muzzle for them now after any exchanges has even come out after them to beat them.

You better don’t judge them about their user database, how many of those users are still active on their platform, if they had most citizen of United states on their platform whether normal or pro, why would US focus on binance alone, so don’t you think that your impression about Coinbase is not as you think. If there is any completion between Coinbase and Binance today, I bet that they would never even come close when it comes to winning, binance will always defeat them.

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September 13, 2019, 08:05:54 PM
Last edit: September 13, 2019, 08:17:36 PM by Pipdips
 #10

I guess that you are from the United State, that is probably why it seems you are supporting Coinbase, so where was Coinbase that binance came to overshadow them?
Coinbase is straight up legit and I like that.  More products are in store for Coinbase Pro in coming months I believe they will offer margin trading so I am stoked.  I submitted my KYC (Know Your Customer) info to Coinbase and I like a company that verifies it's clients.  I like it a lot.  Come to think of it I have probably been a loyal customer to Coinbase for well over a decade now.

My only complaint with Coinbase is they still block a lot of countries.  Once a big exchange like Coinbase allows every damn country around the world to gain access, now that is what Bitcoin and global currency is all about!!!  It is meant to be global currency.

Binance is a beautiful exchange and I learned an immense amount while trading over there but looking back on it, they have a lot of grey areas.  Also the phantom theme is really uneasy if you ask me.  Just think of all the suspicious characters that Binance must harbor.  I've deleted all of my Binance bookmarks and apps.  My plan for now with Binance is to just never look back.  The dumping of their USA clients was a weird business move and unfortunately I think other USA clients should just plain stay away from Binance.
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September 13, 2019, 08:16:41 PM
 #11

More products are in store for Coinbase Pro in coming months I believe they will offer margin trading so I am stoked.

What gives you that idea? They used to have margin trading (back when they were branded GDAX) but they pulled the plug after a severe flash crash in the ETH market.

I submitted my KYC (Know Your Customer) info to Coinbase and I like a company that verifies it's clients.  I like it a lot.  Come to think of it I have probably been a loyal customer to Coinbase for well over a decade now.

Probably not since they only launched in 2012. Wink

I prefer privacy, and protecting my ID documents from exchange compromises, but to each his own.

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September 13, 2019, 08:23:27 PM
 #12

"Look man I'm over at Coinbase Pro now"

Hahaha it's true too!  I'm not going to just sit around on my duff waiting for the next phantom closure announcement from Binance.  Been there, done that already.
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September 13, 2019, 09:02:36 PM
 #13

With Coinbase you at least know that they are professional and competent enough to never have been hacked (unless they have actually been hacked but never made it public), while every single other exchange has.

That is probably also the reason people trust it so much. Coinbase just on behalf of its users has around 1 million BTC in cold storage, and then there are the coins they store through their custody service.

If I had to make a rough guess, Coinbase as entity sits on 1.5 to 2 million BTC. That's an astonishing amount, but an aspect that makes me very uncomfortable. They're too dominant and provide governments a lot of attack surface.

 
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September 13, 2019, 09:36:43 PM
 #14

If I had to make a rough guess, Coinbase as entity sits on 1.5 to 2 million BTC. That's an astonishing amount, but an aspect that makes me very uncomfortable. They're too dominant and provide governments a lot of attack surface.

What do you mean by "attack surface?" What's the worst that can happen? It's not like proof of stake where holders can collude to 51% attack the network. They do offer governments a lot in the way of potential surveillance, but so could any large exchange.

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