COINBASE DISASTER - update

Coinbase

Something that isnt coinbase

Gemini and Bitstamp.

Stay away from Bitfinex and chinese exchanges.

Kraken is trusted but has shitty performance and lists Tether (can can legal troubles with the US government)

coinbase does 1.8 billion in volume every day
they typically charge .25% fee for each trade, with some discounts to larger volume traders, so lets call it .15% to be conservative

1.8B x .15% = 2.7 million

thats coinbases daily income from fees

they are not in any danger from 3 million dollars of trapped bitcoins or whatever the fuck last thread was talking about

cheers

Exodus

most of crypto exchanges volume is from wash trading (bot trading to itself large amounts)

and the problem is not limited to a single wallet, and if this wasn't a big issue they wouldn't be so desperate to destroy bitcoin or replace it with another coin at the expense of their reputation. They were planning to support segwit2x even after it was canceled. They are clearly trying to survive.

if I'm right you lose everything, if I'm wrong you lose nothing

Just signed up for bitstamp but I have to verify my acc't and they say they're verifying new accts slowly as of late...will I still be able to buy small amounts of coin with an unverified acct?

how could this matter since the locked up coins don't technically belong to them anyway?

are you retarded?

>asks a retarded question
>"are you retarded?"

But I cant cash out! They have a tiny withdrawal limit!!!

how much can you cash out per month?

I am so fucking tired of Coin base. They won't even respond to my god damn Request tickets. Should I pull out all my funds into Exodus?

Blockchain

spectrocoin.com/en/bitcoin-exchange.html

for tax purposes alone you should be getting your money out of coinbase ASAP and transfer it locally

Only $7,500 per week for new accounts and you can only trade 2 BTC per week. Really sucks for big accounts

HAHAHAHAHAHAHAHA

CASH FAGS THINK THREE MILLION IS A DISASTER

YOUR ATTEMPTS TO FUD BTC INTO OBLIVION HAVE FAILED ONE AFTER THE OTHER

DUMBSHITS MADE A DUMB MOVE AND ARE TRYING TO CONVINCE THEMSELVES THEIR SHIP ISN'T SINKING.

>3million dollars is a disaster for a company worth billions.

Binance is chinese

I'm anti-bcash actually. Both bitcoiners and bcashers should be worried. There are already many other reasons to leave Coinbase.

You can do $10k/day

>signed up for bitstamp
>cant buy anything until my account finishes verifying in 2 weeks
>just want to buy some ETH so I can buy some shitty altcoin anyway
>FOMO already kicking in

this is just one example. all/most wallets are probably like this. if this wasn't the case, he would have said so.

referral code 12721630

Referral code to binance if anyone is signing up

>Coinbase Doesn't activate SegWit
>OH GOD IT'S SO HARD TO MOVE MUH BUTTCOINS

No shit. They're either malicious or retarded. That's why they released Bcash unannounced during a difficulty adjustment.

Will my coins increase in value despite not being on shit-base? Most likely yes.

this fudding on behalf of binance is not helathy for bitcoin

No, seriously, Coinbase/GDAX is shady as fuck. Just look at /r/CoinBase on reddit. It's flooded with people that have gotten fucked over. Lots of reports of phone support hanging up on their customers too.

actually I don't recommend it (if it's indeed chinese as people say)

I recommend licensed exchanges that don't list Tether like bitstamp and gemini.

where the coins sit is irrelevant to their market value, be it paper wallet or an exchange

I just can't believe how they fuck up their only job which is to provide inferior service to everyone else. If I was coinbase's landlord I'd have tossed their stuff onto the curb by now.

just more FUD you realize anyone can post anything on reddit right.

fuck off chink.

>confusing exchanges with market places

Binance cannot accept fiat
And i have 100% my stack on it.
Fuck off shill

if they didn't use a high-fee crypto they wouldn't be in this mess

> It's flooded with people that have gotten fucked over. Lots of reports of phone support hanging up on their customers too.

Have you looked at any site dedicated to averaging user review of crypto sites? They all have hundreds of negative reviews. Why?

>retards not understanding the site's policies
>competitor sites writing negative rewiews

The 2nd one is probably way, way more prominent than actual complaints

yes this level of competence is surprising, it explains their actions regarding forks, promoting other coins, ..etc

I don't know what Binance is or what it does. If it's Chinese, there's a risk from Chinese government.

Safest option: licensed european/american exchange with no Tether.

If you are ok with more risk than that's fine, just don't deceive anyone.

I've filed a complaint with the FBI. These fuckers need to go to jail. Here's the form if anyone wants to join in.

complaint.ic3.gov/default.aspx?

speaking of FBI

a whistleblower got his account restricted then deleted after he leaked a SEC memo of employee admitting to insider trading in Coinbase.

don't know if it's real or not

...

...

..

...

At the very least, I know from personal experience they're unreliable. Coinbase will let you buy crypto without being verified. Whenever there is a high transaction volume, they will freeze buying and selling on Coinbase. Sometimes on GDAX too, but almost always on Coinbase. In order to use GDAX you need to be verified. Unfortunately, their verification system is pretty much broken and has been since December 7. It will give random errors on each try and they limit you to a few tries, then prevent any attempts for 24 hours. It took a week of trying for me to get verified. In the meantime, they had one of my send transactions to Binance on "hold". This meant they decided they weren't going to process it for seven days, or until I got verified. Which I couldn't do because their service is shit.

Also, never use wire transfers with Coinbase/GDAX. Those have to be manually processed and they take their sweet fucking time with it. Right now there's a five day delay MINIMUM.

You can see how fucked their service is on their status pages, which they rarely update. For example, there hasn't been an update to their ID verification problems since December 9 (Coinbase) or December 15 (GDAX), but the issue is still ongoing with no ETA for a fix. If someone joins Coinbase right now, it's very likely they wont be able to get verified and I HIGHLY recommend not giving them money until you are verified because they will randomly hold your fucking transactions for a week if you aren't.

status.coinbase.com/
status.gdax.com/

Fuck. I have 100€ ready to go to ETH through Coinbase into whatever McAfee shills tomorrow...

Should I be worried?

gemini does not operate in my state of residence yet, is there anything else i can use to cash out?

bitstamp?

honkgook isn't china, so... Gooks are cool.

Are you verified on Coinbase? If not, then yes, I would be worried. Once you're verified you can deposit your coins into GDAX and they will pay your fee to send them elsewhere.

yeah im going to see about that

Coinbase FUD is bullshit.

If you can't figure out how to use the eaisest exchange then I got problems for you.

I've never had a problem. The only people I've seen having issues are people THAT ARE JUST NOW TRYING TO SE UP AN ACCOUNT IN DECEMBER.

Sorry faggots, you're late to the game and trying to jump on when everyone else is too. Put in your time and wait like we all did.

Trading is halted on the NYSE all the time as well. This is what happens when something becomes popular on the internet.

Coinbase doesn't owe you shit, the fact that it exists is a great thing. This is called growing pains. I've never had any problem with them and even made a small buy during the dip yesterday when everyone was crying about not getting on.

Complete and total untrue FUD spread by competing markets who are butthurt they don't see one thousandth of the action coinbase does.

With Bittrex closed registrations, what's the next best thing? I'm EU

>Coinbase doesn't owe you shit
Yes, they do owe you your money. I don't know what the fuck kind of retard thinks otherwise.

stop shitposting and fix your site Brian

You core faggots are the worst thing for crypto without compare. If anyone does anything except suck cores dick you organize a huge shit pile of fud. You attack people, businesses, etc. And you know what ends up happening? Nothing. Cause you guys are fucking retarded. Coinbase is one of the best things to have ever happened to bitcoin, and is still the cleanest, best exchange (even with their problems - they have less than others).

again only a retard couldn't get their money into or out of coinbase.

if you're pissed about verification then you should be pissed at the United States government who makes it basically impossible for new companies to handle massive influxes of new customers. They have to check those customers against the database that the United States controls so some of the backlog is due to bureaucracy

Stop trying to rename things. "Core" is Bitcoin. Bitcoin is the best thing that has ever happened to cryptocurrency because it invented it. People have every right to be wary of exchanges after what happened to MtGox. I wouldn't be surprised if Roger Ver comes onto YouTube and talks about how he met with Coinbase executives and they have assured him that everything is okay.

youtube.com/watch?v=UP1YsMlrfF0

at this point I don't know who's worse, core faggots or cashies. They're all annyoing and retarded as fuck. But I tend to agree that core faggots are the worst, otherwise cashies would never have happended to begin with... not even going to start with who's pulling the strings nowadays...

literally this.
Other exchanges trying to spread fud. Fuck off.

Bought another $5k on the dip yesterday. Cry more fags.

Electrum

If they're having issues with verification that's one thing. It's another thing when they decide to put one of your crypto sends on hold until you're verified. There is no requirement that they do that and I suspect they did it because they are having liquidity issues and don't want people to take crypto off their exchange.

i hope they get raided and crypto prices crash, i want to buy more.

Lightning Network will solve that shit.

> There is no requirement that they do that

if they want to be compliant with US laws there is.

The government is watching closely. You can't just think you can move money freely on and off an FDIC insured exchange without having to verify your identity. Coinbase would be shut down immediatlely becuase criminals would just wash their money through them.

again your complaint is actually against US laws, not coinbase.

What were the warning signs of Mount gox?

>if they want to be compliant with US laws there is.
No, there isn't. This wasn't a withdrawal to USD. It was me sending crypto to Binance. Coinbase just decided to fuck me because they could.

I don't own a single BTC, fucking faggot.

>Lightning Network
disgusting

Lightning network is great. Bigger blocks is retarded. It's not like BCH would be doing any considerable amount better than BTC if it were flipped right now. Too bad the flippening will never happen so you can see that :P

fuck coinbase

first of all, get verified and its not a problem you fucking newb.

also, if you put USD on coinbase and bought crypto then tried to send that crypto you have to be verified according to US law.

Please explain why big blocks are retarded?
blog.vermorel.com/journal/2017/12/17/terabyte-blocks-for-bitcoin-cash.html
There is no reason why this couldnt work.

>Please explain why big blocks are retarded?
>terabyte blocks
Do you understand the concept of bandwidth?

>first of all, get verified and its not a problem you fucking newb.
I am verified now. It took a fucking week. I no longer trust them because of everything they have done. They take extra time to process wire transfer, which I suspect is them floating money to pay out other withdrawals. They delay sends, which I suspect is because they have a lack of liquidity. You can keep using them, but I'm going to laugh my fucking ass off when they shut down and you lose everything like the people that believed in MtGox.

>also, if you put USD on coinbase and bought crypto then tried to send that crypto you have to be verified according to US law.
Bullshit. They let me send all the time while I wasn't verified. I've had my account for years (for darknet market purposes) and they've never had an issue with me depositing USD and sending crypto to my own wallet to send to drug dealers when not verified. But they decided to halt my transaction to another exchange when the market was volatile.

Wow. What a bunch of fudding nonsense. Yeah, I'm sure that I'm gonna lose my money on the only major exchange that has fiat and my fiat is stored on their backend in FDIC-backed accounts up to 250k.

Begone fudder faggots. OP is likely part of some coordinates campaign to send the market into a decline. Sorry whale! You aren't accumulating my money, this is way too transparent since I don't have a risk of losing my money due to not having over 250k in the market.

Btw, comparing GDAX/Coinbase to some chink operation like Mt. Gox made this too fucking retarded/obvious.

>Yeah, I'm sure that I'm gonna lose my money on the only major exchange that has fiat
This is a lie. Gemini, Bitstamp, Kraken, itBit, Bitfinex, and BitFlyer all support fiat.

>and my fiat is stored on their backend in FDIC-backed accounts up to 250k.
Fiat is FDIC insured. Crypto is not. Unless you're cashed out, if Coinbase fails or is hacked then you get NOTHING.

I Just got verified for 50k withdrawal, giving literally no explanation or additional information, and I have more than 50k on GDAX. They aren't anywhere close to insolvent, this is just core trying to fucking with coinbase for listing bch

>core fucks things up by betraying original design (p2p currency for coffee purchases and above, bigger blocks when needed)
>companies who planned their business model on original design get fucked by higher fees
>core supporters blame exchanges for using the blockchain instead of a database
I want all of you on the fence to take a second and consider the level of absurdity we've reached here.
Advocates of the "real" Bitcoin encourage for more centralization. Use Lightning Network hubs! Use your own database!
This is the stupidity we're dealing with.
Bitcoin Cash is a crap scam. In an ideal world, Bitcoin XT would have succeeded and development would have gone on. We might even have had some form of smart contracts on top of it.
Instead, here's Ethereum and its tokens taking almost half of the market cap, and Bitcoin Core is so fragile it struggles to shake off a fork with no development.

On Coinbase itself: 3 million dollars is a blip on the radar to their bottomline. But that's only the wallets we know of, so there is a valid question regarding the extent of the damage.

Still, you're kidding yourself if you think you're safer on Bittrex, Poloniex, Liqui, Binance or -god forbid- Bitfinex. So at this point where are you trading? Etherdelta? Woops, phished just 2 days ago. Waves DEX? You faggots sure aren't there considering the volume.

Holding private keys is fine and all and everyone should have a significant part of their funds in safety, but this is not viable for trading.

Besides, the timing of this FUD operation is too convenient. Coinbase introduces BCH, and suddenly Core supporters find 101 reasons it's going to blow up. Please.

They've been having problem for far longer than when they added BCH. Look at their fucking status page, which is an admission of their own ineptitude.

>They aren't anywhere close to insolvent
MtGox was paying out people too. Then one day they couldn't. Six months later they shut their doors. You should at least be aware of what you're dealing with here. People posting about being FDIC-insured gives others a false sense of security. It doesn't help their crypto.

Honest question:

Does this mean that I'm fucked even if I only story FIAT on Coinbase? Should I cash it out ASAP? I wanted to wait until next year for IRS reasons...

Like the other user posted, comparing a chink exchange built for trading cards and sold to a random french weeb running his trading bot and orderspoofing to a somewhat serious US company which has been audited and involved in the legal process is ludicrous.

Bitfinex is a thousand times closer to MtGox than Coinbase. Ofc when tether pumps bcore through orderspoofing and washtrading, everyone looks away.

Can't wait til bitcoin money flows to all the worthy alts. Best thing that could happen to crypto.transfer of wealth and the og bitcoin nerd fags btfo

Your capital gains are realized as soon as you sell your crypto, regardless of whether you withdraw it or not. So it doesn't matter if you have fiat sitting in Coinbase for a year, that wont make it a long-term capital gain. Only if there is a one year span between when you bought and sold the crypto itself. For more information, reference the Form 8949[0] itself, which is what you'll be declaring your capital gains/losses on.

[0] irs.gov/pub/irs-pdf/f8949.pdf

You act as though banks have never folded before. I don't trust Bitfinex either by the way. Or Kraken, but that's more from a technological standpoint because their backend goes down all the fucking time (You'll see error messages and CloudFlare pages when it happens), so I don't trust their developers to have hardened its security. Remember, even if it's FDIC-insured, if someone hacks them and steals your crypto, you get NOTHING.

Thanks, not from the USA though, so it's different here.

Should I withdraw right now or can it wait a couple of days?

If Coinbase goes the way of Mt Gox then crypto will be dead for a long, long time. It would be so much more worse than Mt Gox ever was

That's up to you. Do you feel that Coinbase is a secure place to store your money?

Question: How long does it take coinbase to transfer bitcoins to binance?

Order says pending on coinbase, but binance says nothing.

Usually at least 8 hours.

You own neither the fiat or the coins you store in any crypto exchange.

Fuck. Should have bought litecoin.