Coinbase Stealing You're Bitcoin

[BitCoinPokerBro]

Maybe some of you will remember back in the 80's or 90's there was a movie about a hacker that had been steeling small fractions of a cent from every bank transaction somewhere out west. Said hacker ended up making 100's of millions of dollars before getting caught or fleeing to some tropical paradise. Well it went something like that anyways can't quite remember the exact details.

Coinbase is doing the exact same thing! Over the last week I sent 2 small quantities of btc to coinbase as follows

BTC0.13182195

BTC0.05819864

Of the first deposit I sold 0.1318 after which coinbase cleared/stole the resulting balance of 2195 satoshi

The second was similar only this time 0.05819 was sold and they stole 864 satoshi.

Now consider this happening 100 thousand times! That's BTC2195 and BTC864 respectively.

For each individual it's like oh no big deal the "dust" is gone from my account. However collectively they are stealing thousands possibly 10's or 100's of thousands of btc on a weekly/monthly/annual basis!!!

[1714842435]

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[1714842435]

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[r0ach]

I noticed this exact same thing.  Irregularities with available balance that always seems to be something like 1% off.  Even after all fees are factored in, you're just randomly missing a tiny amount of coin.

[passionsurf]

2000 satoshi is less than a penny. Not much to cry about. I think they're a stable exchange, have extremely low fees, and am glad to give them an extra penny per transaction.

[rpg]

Maybe some of you will remember back in the 80's or 90's there was a movie about a hacker that had been steeling small fractions of a cent from every bank transaction somewhere out west. Said hacker ended up making 100's of millions of dollars before getting caught or fleeing to some tropical paradise. Well it went something like that anyways can't quite remember the exact details.

Coinbase is doing the exact same thing! Over the last week I sent 2 small quantities of btc to coinbase as follows

BTC0.13182195

BTC0.05819864

Of the first deposit I sold 0.1318 after which coinbase cleared/stole the resulting balance of 2195 satoshi

The second was similar only this time 0.05819 was sold and they stole 864 satoshi.

Now consider this happening 100 thousand times! That's BTC2195 and BTC864 respectively.

For each individual it's like oh no big deal the "dust" is gone from my account. However collectively they are stealing thousands possibly 10's or 100's of thousands of btc on a weekly/monthly/annual basis!!!

doesn't surprise me, from pools to hardware manufacturers to hackers, this is a unregulated market (read cops will not show up on my doorstep)

[Bit_Happy]

Did you check their terms of service?
Perhaps they are honest about "sweeping up the dust?"

[BiteMyShinyMetalAss]

Your not you're Bitcoin! I came just to correct the title, it hurts my eyes!

[Twilight_Sparkle]

Maybe some of you will remember back in the 80's or 90's there was a movie about a hacker that had been steeling small fractions of a cent from every bank transaction somewhere out west. Said hacker ended up making 100's of millions of dollars before getting caught or fleeing to some tropical paradise. Well it went something like that anyways can't quite remember the exact details.

Office Space? Definitely a good movie 

Well anyway, so if you include the dust, that would be...what... 1.1% fee per buy/sell rather than their 1% official charge? That is still not a bad fee amount.

[BitcoinBobbeh]

There's actually an FAQ about this on their site...  they only go so many decimal places to the right and then they just round. The actual amount in your account is accurately stored in their database, (for example, 0.1578234) but just displayed as 0.158. I'm sure you could submit an inquiry and receive an answer that explains as much.

Couple that with the transaction fee and I can see how maybe it looks like they're taking something off the top... but generally I think Coinbase is cool people.

[LordMo]

I believe they have my stapler

[Ron~Popeil]

I believe they have my stapler

Time to set the building on fire.   

[-droid-]

i always just sell everything in my account

[CurbsideProphet]

Your not you're Bitcoin! I came just to correct the title, it hurts my eyes!

And it's "stealing" not "steeling."  Hard to take someone seriously when they can't even spell properly.

[maakas]

Coinbase is stealing and everyone else is a Bitcoin. Yeehaw!

[NotoriousBIT]

But I don't wanna be a Bitcoin.  I wanna be a Dogecoin!

[K128kevin]

Coinbase is a business not a charity. Their sole purpose is to make money. How can you expect them to NOT charge transaction fees? Those fees are why the company exists. This isn't a bad thing, they provide a really good service. They make it easy to buy, sell, and own bitcoins. This obviously is going to come at a small price.

[zeded]

i am bitcoin?
ok

[ie007cheung]

Coinbase is stealing and everyone else is a Bitcoin. Yeehaw!

It makes sense now 

We're Bitcoin coz we all have Bitcoin icon under our names in this forum

[ryanmnercer]

Maybe some of you will remember back in the 80's or 90's there was a movie about a hacker that had been steeling small fractions of a cent from every bank

It's called Penny Shaving.

Superman III
Hackers
Office Space

[jparsley]

A lot of exchangers do this.

[bgmc]

They still don't charge nearly as much as Vircurex for transactions or withdrawals!!!