Coinbase New FUD

[pugman]

I mean, I don't think Coinbase will get shut down over this lawsuit, most definitely not. Coinbase is doing ridiculously well in the States, in terms of partnership and what not, and a lawsuit for a mere 100k USD won't do shit to them. And that is all there is. FUD will always exist, no matter what you do. Its just how it is, and its how it will always be. The crypto scene is used to it, the newcomers are not [yet].

Okay nvm, I read about the actual lawsuit over here^[1], it does seem serious, but cannot fully determine what is to happen lets see lets see. It will be interesting to see how Coinbase's somewhat new partners react to this, I am expecting a snake bite in the ass but who can really say what happens behind the curtains.
Ref:
^[1]https://coingeek.com/coinbase-faces-a-class-action-lawsuit/

[leea-1334]

Now i want to know from you guys is this type of Fud will gain a negative effect in peoples mind about bitcoin? Please share your opinion.

This FUD is pointed towards Coinbase,not towards Bitcoin.The fact that some crypto company has problems and/or committed some kind of fraud doesn't mean that Bitcoin is a scam,fraud,ponzi scheme,bla bla...

Unfortunately not everyone will understand how this works. The Binance FUD that has been happening this whole past weeks is also really affecting people's faith in Bitcoin although nothing of the two are at all connected. Very strange right?

MtGOX fud before was understandable as most people were using it for their BTC but today with so many options, this is just news of one company, not anything to do with the network.

[stompix]

You are confusing negative news with FUD, not everything negative is FUD.
In simple terms FUD is the lies or false news that is being spread to cause Fear, Uncertainty and Doubt among bitcoin owners to fool them into making a bad decision and sell their bitcoins to the market manipulators.
Assuming this news is not a lie, it is simply a negative news and not a big one at that.

Too late, the FUD thing is too deep engraved, if something is bad for bitcoin or companies trading or owning bitcoin it is FUD.
It doesn't matter if the news is legit, the facts are proved, they still say FUD!
Everything that goes against the unicorn dream of lalaland is perceived as FUD!
The cult of denial is here!

MtGOX fud

How the hell was MtGox fud?
Where is the uncertainty and doubt that thousands lost millions there?

But anyhow, this has nothing to do directly with bitcoin, it's about the Coinbase IPO, and this will probably be solved between the buyers that feel like they were deceived at that time and Coinbase. For sure there will be a private settlement that will not be disclosed.

[magneto]

There is actually some substance to it, imo.

The fact of the matter is that Coinbase has a notoriously bad customer support system. And instead of fixing that up, they decided to get the founders rich first and conduct an IPO this year.

Although that's not securities fraud, that is definitely some shady behaviour. But I can certainly understand the frustraction towards Coinbase and its administration, especially since its share price tumbled since IPO.

[leea-1334]

How the hell was MtGox fud?
Where is the uncertainty and doubt that thousands lost millions there?

The FUD about Bitcoin dying, I thought this was what we are talking about,,, everytime something big and bad happens,,, people spread FUD about Bitcoin. There is no doubt about silk road, about MtGox about China ban. All these are true facts.

But they all spread FUD about Bitcoin = dead.

[stompix]

How the hell was MtGox fud?
Where is the uncertainty and doubt that thousands lost millions there?

The FUD about Bitcoin dying, I thought this was what we are talking about,,, everytime something big and bad happens,,, people spread FUD about Bitcoin. There is no doubt about silk road, about MtGox about China ban. All these are true facts.
But they all spread FUD about Bitcoin = dead.

No, that's not what we were talking about and I see no way in which you could have come to that idea, nobody mentioned bitcoin, nobody mentioned bitcoin dying, everyone just started screaming FUD, some even without reading the news.

So, where are the false facts in this article?
Where are the false facts about Binance? Can you claim that any of these are false?
Moreover, wherein the article about Coinbase is Bitcoin even mentioned?
Seriously, stop labeling everything you don't like as FUD! That's not how it works.

[The Sceptical Chymist]

It may be an attempt to extort money from Coinbase but I wouldn't dismiss this as mere FUD. It's as real as it gets unless those who filed are fake people or doesn't have substantial evidence to pursue the case.

I wouldn't dismiss it as such, either.  And it makes me wonder whether people are either overusing that term "FUD" or just plain don't understand what it means.  A class action lawsuit is the real deal, not some idiot trying to scare people into doing something or not doing something, which is what FUD actually is. 

Binance will survive this, though.  They've shown that they're a legitimate exchange that's keen on complying with various countries' laws and regulations, even if they may have made mistakes.  And who knows what the result of this lawsuit is going to be, anyway?  It's not as though all of them are successful, though I think a lot of them are settled for substantial cash amounts.  If that happens in this case, I'd imagine that Binance would increase its fees and other expenses their customers have to pay.  Hopefully it won't be any worse than that.

[The Cryptovator]

Nothing will happen actually. Either it's FUD or real news, I don't think Coinbase doing something illegal that would be the reason shutdown it. Complying with the rules would be mandatory where are you running a business. So if Coinbase missing something it would be corrected. But sadly, we react immediately when this kind of news comes from us. We just turn it into FUD. Nothing else. Many FUD heard about many crypto exchanges, but still nothing happens.

[bakasabo]

Coinbase is one of the biggest exchanges, but not the only one. Even if the fud is real, people would just move to other eschange, thanks god there are plenty of them. Even if we “lose” coinbase, as it is kyc oriented, we wont lose a lot. I think this fud was more oriented on Coinbase COIN stock, than on cryptocurrency in general.

[sunsilk]

Meanwhile, there's this news about how much Coinbase have earned and it's on a surge. Maybe there's this connection to this fud or fact?

Link:Coinbase profits surge following volatile stretch of cryptocurrency trading

[Potato Chips]

The articles out there seem to redirect to different firms...

• www.prnewswire.com > rgrdlaw.com/cases-coinbase-global-inc-class-action-lawsuit-coin.html
• finance.yahoo.com > blockleviton.com/cases/coin
• coingeek.com > portnoylaw.com/coinbase/

It's possible that a shady site got mixed it. If anyone's looking to join, confirm the facts first with them before providing substantial info and avoid obscure news site.