Coinbase follows usual scam pattern of exchanges

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AnOminous

AnOminous

Any road will take you there.
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Dec 28, 2014
Suddenly, when Bitcoin prices are skyrocketing, the previously reliable Coinbase is suddenly offline and you can't log into it.

This is a standard scam pattern of shitty unstable exchanges.

I wonder what kinds of crimes are going on.
 
Do you primarily use Coinbase? I'm on Uphold for the primary cryptos; I'm more or less happy with it.

Perhaps there's some massive amount of cryto-kitties being spawned.
 
Well, it's back up again. Still, timing is pretty fucked.
 
I bet their load is insane right now, I have people calling me asking me where to buy. Coinbase's app is on the top of app stores.
 
idk if this is a "scam" so much as incompetency combined with ridiculous numbers of new marks flocking to coinbase after hearing about Bitcoins on facebook. Still, good to know that it's going to be fucked when the correction comes and everyone heads for the door at once.
 
Skeealator said:
idk if this is a "scam" so much as incompetency combined with ridiculous numbers of new marks flocking to coinbase after hearing about Bitcoins on facebook. Still, good to know that it's going to be fucked when the correction comes and everyone heads for the door at once.
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I expect a lot of people to lose their minds as BTC drops in price and they're unable to access their Coinbase coins until they've passed their anti-fraud waiting periods.
 
CoinBase always goes offline when prices dip, too. I've lost track of how many times I've caught a downturn, thought "Time to buy!" and then been btfo by mysterious coinbase outages.
 
Varg Did Nothing Wrong said:
God I hope I see millions of people lose their fucking life's savings when Bitcoin crashes like a lead balloon.
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Even though I have money tied up in it all, I still think it would be funny to see the people who used credit cards to buy their cryptos get rekt.
 
But a cold wallet still won't help you trade crypto for dollars if there's a panic, will it?
 
I use the freewallet.org app set, never have an issue. When things are shady elsewhere, they'll disable the coin to coin inter-exchange but my XMR and ETH are safe.
 
My trades still went through fine yesterday because I got lucky with my planning. Coinbase was fine during the litecoin price surge this morning too. I'm willing to give coinbase the benefit of the doubt because before the service outage the BTC trades were flying by on GDAX, probably thousands per minute it was crazy to watch.
 
Skeealator said:
idk if this is a "scam" so much as incompetency combined with ridiculous numbers of new marks flocking to coinbase after hearing about Bitcoins on facebook. Still, good to know that it's going to be fucked when the correction comes and everyone heads for the door at once.
Click to expand...

I'm thinking it's the latter since it came back up pretty quickly. It's just an exasperating fact of Bitcoin that exchanges fucking do this all the time, and sometimes, it actually has been scamming, i.e. delaying transactions in order to benefit the exchange.
 
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