Coinbase should solve it's coinbase trust issue. I bought a small amount of litecoin almost 2 weeks ago, i'm well past my "delivery by" date, my funds left my bank account over 10 days ago, yet I still don't have my coins in my account.
That said, it seems closer to the truth to say that they're simply under load. But it's hard not to wonder. There's no way to know there's a problem until it's too late.
It's a good reminder to keep your coins off Coinbase.
I'm finding that keeping coins off of Coinbase is easier to do than keeping cash off of Coinbase. It's fast and cheap to transfer cryptocoins to Coinbase, but takes me days to add cash.
And then Bitfinex is not processing BTC > USD transactions for ">250BTC"...
A VC-funded SV company should do better.
My USD withdrawals always show up in my bank account 2 days later.
If you're not buying with the intent to hold, I recommend depositing USD to their exchange GDAX. Fees are lower and you can sell/withdraw immediately.
Recently logged in to find that previously verified ID documents were somehow wiped out and my account became restricted. Reverified ID without issue, but account still restricted. Been 13 days and nada from their support save for an automated response.
Example:
Ann Rule was on a first name basis with Ted Bundy before he was caught. He didn’t murder her or any of her friends once. Its probably fine to take a car ride from him.
I've had a ticket open for about a month w/o access to those funds.
I went with BitPanda. I should leave my referral link here but rather my own words carry the recommendation.
Looking for a new exchange, but they're all having problems with staying online or verifying new accounts.
They stole my money and I'm being downvoted for it, ha!
I gave them money , they gave me coin , everything worked ... maybe you made them angry and tried to do something illegal on their site so they shut your user down.
I hear they prioritize "good" users in their system.
There is a section where there is the type of account you add, if you add a bank account you get special treatment
Ahh, crypto-punk-decentralized-liberatrians never seize to amaze with the level of double-think they can achieve. How someone can hold both "the government is evil and might take your money" and "maybe you made this website angry so they didn't give you your money" at the same time is truly impressice.
Woah, nice strawman
Could you imagine living in a world where you had to start every business relationship by only making extremely small "beta test" transactions, be it a trip to Target to opening an account at your local credit union. Like, on your first trip to Costco, you only bought a box of gum because you couldn't ever be sure they wouldn't somehow completely fuck you over and if they did fuck you over the societal response would always be "LOL too bad, so sad.... shouldn't have trusted them!!!"
I dunno about anybody else, but that really isn't the world I would want to live in.
There is value, substantial value, to trust others and when that trust fails, having a solid legal system to back you up. If you cannot trust anybody but yourself, every transaction you make becomes significantly more expensive.
Readers, please enshrine this comment as the canonical example of the Cryptocurrency Corollary of Godwin's Law: "As an online discussion about cryptocurrency grows longer, the probability of a comparison involving Ponzi approaches 1."
Coinbase's entire business is to irreversibly and permanently send you Bitcoin in exchange for you sending them funds that you have months to dispute and reverse. And this is with reasonable fees that put a check-cashing outfit to shame. Of course they're going to err on the side of caution. Based on zero information whatsoever, I'm going to assume you're telling the truth. But for every honest person like you, there are probably at least two who truly are trying to steal Bitcoin from Coinbase.
I don't like it any more than you do when businesses make mistakes. But jumping straight to "Ponzi scheme" is just silly.
I once ordered a computer from Dell. The sealed box arrived empty. I went through few weeks of increasingly enraged emails and phone calls. Should I have assumed Dell was a Ponzi scheme?
> in exchange for you sending them funds that you have months to dispute and reverse
and here we see the limits of crypto currency and the legitimate concerns people have with it.
Because the Corollary is true. At this point to believe otherwise marks you as a credulous dupe.
You were probably defending Mt Gox up to the day of its collapse. The Bitcoin True Believers are the easiest marks for these scams and cons because their ideology blinds them to reality.
At times I’ve been unable to access my accounts or have transactions complete in a reasonable amount of time. Coinbase closed my account without notice with no explanation other than a mention of their desire to comply with FinCEN. I never got an answer from them as-to what I did “wrong”. I sure as hell wasnt selling heroin or babies on Silk Road. Imagine if Wells Fargo closed an account without notice or explanation after a customer had a few normal deposits and withdrawals. deep rolls eyes
You don't have to imagine.
https://consumerist.com/2017/08/21/feds-investigating-wells-...
"Feds Investigating..."
BB&T has done this to me in the past. The only recourse is taking your business elsewhere. Coinbase doesn't seem too different in that regard.
Let's also not forget while many other otherwise good UI platforms dropped out of NY because well, it was too hard and the fees were too high coinbase continued to integrate and work with lawmakers because they know how important it would be not to disciminate against states and also to have legal integration with Wallstreet, so as much as you may be upset with Coinbase for not scaling fast enough for you and making the government go faster, you should ask why so many other platforms aren't there to offer you an equally good alternative.
That being said, throughout all this bustle lately, I have not experienced issues with Coinbase and have performed a variety of money moving actions to and from multiple bank accounts coinbase and gdax with no delays. This could be because I'm an established user, approved by the Federal Trade Commission and have an established credit history with Coinbase which has led to another increase in what I am allowed to do.
Furthermore, Coinbase has been open apologetic, taken complete responsibility for the lack of being able to instantly gratify as they stayed over 8x the exponentiation of new users trying to register relative to the last spurt in the sunmer and promised to be transparent even if they can't be perfect. They have a ten day backlog on customer support tickets even after hiring 400 new people just for customer support and plan to hire even more.
It sounds like you are a new user who feels entitled to instant gratification, instant approval by the FCC, instant trust from Coinbase who probably doesn't have an established credit history with you and you're mad because things didn't work for you immediately.
I saw the other day Coinbase had an update saying wire transfers we're delayed 2-3 business days but I did not have a delay with mine, which means they probably prioritize established traders.
I wouldn't be so hard on Coinbase, but if you think you can provide a better solution by all means go for it. We need more competition in this space.
I also recommend certifying yourself with a few other platforms and getting your accounts tested and registered and having some money there so if you experience delays with Coinbase you have other options to move money. I am established with multiple platforms in case I experience issues with Gdax, but as it turns out I never have.
Very impressed with them.
People are particularly emotional about Coinbase because it touches on their bottom line -- money. But let's not forget the fact that ALL startups have major scaling woes. Bugs in the tech being ironed out, overwhelmed support and engineering teams recruiting and integrating talent to meet the demand -- in Coinbase's case exponentially growing demand. If you've worked in a software startup you know how easy it is to be met with exponential increase in demand, and how impossibly difficult it is to stay above water growing a team at the same rate.
I'm positive on Coinbase due to their backing. YC, Andreessen Horowitz, DFJ, among dozens of high-profile investors. These guys want a $20B valuation, they're not interested in backing a failing company or a scam.
Yup, they're a startup, they're having problems, they're doing their best, actually managing pretty well given the circumstances.
None of that changes the fact that they can't deliver the service as expected.
It can't provide the level of service expected for financial services of this sort. That doesn't imply they should give up and go home, but it does mean that one should temper one's expectations of being taken fully seriously.
You have a point that SV needs to get into the mindsets of the industries they are trying to disrupt and rise to those higher standards.