Is Coinbase turning into another Gox?

[5thStreetResearch]

Ive never had a single transaction cancelled by them

[1713471256]

1713471256

[1713471256]

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[ChuckBuck]

Me thinks the OP is trying to spread FUD.

I've made many many transactions with Coinbase both ways and it's been always a great experience.

If there's any issue, it's with the OP's financial institution.  Probably changed the terms of service or something.

GOX, GTFOH.  Not if Marc Andreesen has anything to say about it.  If you've never heard of him, you should.

FUD, because it works for you it must all be fine for everyone? Coinbase will not provide details regarding why a transaction was cancelled, just that it was high risk. When the market is swinging in a direction that isn't conducive to completing the sale I have seen my transactions canceled, in some cases many times in a row over the course of a week or two. I have also have successful 5K plus transactions with them.

In any case since Coinbase will not share the details regarding why a transaction was cancelled the OP is asking a legitimate question. In my case I took my business to Bitstamp and haven't been happier, Coinbase lost my business due to their lack of transparency but obviously they are working fine for some people..

OP tried to compare Coinbase to Mt. Gox, if that's not spreading FUD, I don't know what FUD is.

Last I checked Coinbase had over 1 million wallets, added top personnel from Facebook and Amazon to their staff, and backed by Andreesen Horowitz.

I think unfortunate cases like you and the OP experienced are extremely rare not the norm for Coinbase.  Without any proof from the OP, it smells more fishy than anything.  Why is he posting this on a board read by thousands on a daily instead of rectifying his situation?

If anything, they're one of the bright beacons of Bitcoin business.  They make transfers and payments really easy.  Like NOOB easy.

[Beliathon]

FUD, because it works for you it must all be fine for everyone?

It works for everyone EXCEPT you, but it must be a scam, right?

Stop acting like a child or I will take the gloves off and speak some truths that you would not like to hear.

Like the fact that you are disgracing yourself here.

[maurya78]

Give them time, they have now taken down serious VC funding and some of this may be scaling challenges
Have faith (some faith anyway)

[bitvestor]

No, but they are sometimes sloppy!

[smooth]

I did have one small transaction canceled for no apparent reason, which worked in my favor (it was a sell and the price had gone up). So I can definitely say it does happen but they aren't necessarily scamming, and it doesn't necessarily mean their service is not "safe" but it does give me pause to wonder if using their service has some hidden risks.

I've also had much larger transactions go through without any problems. YMMV.

BTW, the $25 million in visible equity capital doesn't really make me feel that safe either. A lot of that has probably been spent, and it is clear from recent events that losses in bitcoin financial companies that go bad can spiral rapidly, easily eclipsing (whatever is left of) $25 million. Coinbase is a relatively small misstep away from insolvency, unless there is more capital than has been publicly disclosed.

[DGulari]

Again, no.

Brian Armstrong and his team funded by Andreessen Horowitz are only about 35,000 times more legitimate than Mark Karpeles and his insane incompetence.

It has a lot to do with the difference in business mentality between French and America.  Horowitz / Armstrong are professionals who run a tight ship.  Karpeles is a fat bloated dope who spews incompetence.  He didn't even steal coins like a dirty Russian, he merely let them spill all over the place and into the sewers.  Idiot.