Where are my bitcoins CoinBase? SHAPOW!

[bitfiend]

If you can collect evidence that they promised nearly instant or instant coin delivery then you could have a complaint worthy of a class action suit for false advertising. On the website they say you can 'buy' bitcoins in minutes but delivery of the coins is another story.. this is deceptive and probably part of a front running scheme

let's say Bitcoin is at 1000 and coinbase has x number of Bitcoin in their account

if you execute a buy at 1000 and after 3-5 days it goes to 1200 they will credit you the coins at $1000 with some of the coins in their supply. no money lost except commissions.

if you execute a buy at $1000 and after 3-5 days it goes to $800 they will buy the coins at the present price of $800 give them to you at your loss. They make a $200 profit per coin because you locked in a higher price.

The waiting period is why this works. Coin base is not an actual exchange, they are a middleman marketing their service to people that don't know better.

 

[guerilla]

I lost $12k because the failed to deliver the coins on the scheduled date. They give me $50 and expect for me to walk away in smiles.

Pretty sure their terms of business will indemnify Coinbase.

This is anarchism. Read the fine print and be conservative or get burned.

I am not happy Martin lost money, but this is the sort of thing bluechinagroup and others have warned about.

Playing BTC like the stock market without the maturity, transparency and regulation of the stock market makes it a completely different beast.

 

[kumansk]

Pretty sure their terms of business will indemnify Coinbase.

This is anarchism. Read the fine print and be conservative or get burned.

I am not happy Martin lost money, but this is the sort of thing bluechinagroup and others have warned about.

Playing BTC like the stock market without the maturity, transparency and regulation of the stock market makes it a completely different beast.

I'm surprised someone from a higher up position doesn't go Vanderbilt, scares the shit out of the public as far as using bitcoin, the price lowers as a result, buys it out and then does the reverse of step #1.

 

[iCreate]

I'm surprised someone from a higher up position doesn't go Vanderbilt, scares the shit out of the public as far as using bitcoin, the price lowers as a result, buys it out and then does the reverse of step #1.

hold on... let me get my wallet.

 

[mGrunin]

 

[mikeshinobi]

oooooooo snap

 

[CCarter]

I believe it was because of my tweet: https://twitter.com/MercenaryCarter/status/413424789185773568

Don't forget my 15%.

Carry on...

Edit: j/k, Glad you got your money​

 

[bluechinagroup]

I believe it was because of my tweet: https://twitter.com/MercenaryCarter/status/413424789185773568

Don't forget my 15%.

Carry on...

Edit: j/k, Glad you got your money​

This is a pretty hilarious tweet that sums things up nicely.

 

[Second]

God you have no idea how much I want BTC to epicly rebound to $1200 a pop making this the greatest play of all time.

 

[mikeshinobi]

So basically mgrunin actually got really lucky they delayed his coins...

 

[bluechinagroup]

Pretty sure their terms of business will indemnify Coinbase.

This is anarchism. Read the fine print and be conservative or get burned.

I am not happy Martin lost money, but this is the sort of thing bluechinagroup and others have warned about.

Playing BTC like the stock market without the maturity, transparency and regulation of the stock market makes it a completely different beast.

Well even in an anarcho-capitalist society, coinbase would be pretty fucked if they left Martin pissing in the wind regardless of their terms. From a PR perspective they made the right choice (paying Martin out at the current market rate) since things would have gotten ugly otherwise.

This was all done outside of government intervention, so it's pretty much a win for Libertarianism no matter how you slice it.

I do totally agree with you in principle though.

I really want to hear Lukep's opinion on this too.

 

[bitfiend]

that tenacity really paid off

I would sell those 23 coins in case shit hits the fan (which i'm sure it will in the next 24 hours) and consider yourself very lucky..that's def. a nice early Christmas present

 

[rusvik]

Well even in an anarcho-capitalist society, coinbase would be pretty fucked if they left Martin pissing in the wind regardless of their terms. From a PR perspective they made the right choice (paying Martin out at the current market rate) since things would have gotten ugly otherwise.

This was all done outside of government intervention, so it's pretty much a win for Libertarianism no matter how you slice it.

I do totally agree with you in principle though.

I really want to hear Lukep's opinion on this too.

Yes, in all reality, this was an interesting case and good that the money were returned.

Anarchism works fairly well online and this is another example. Lost reputation for a company solely doing business online is a serious matter, much worse than a simple government fine.

 

[microphone head]

Jaysus there are some bitter souls on reddit towards you chap! wtf is that about?

 

[productionhead]

Jaysus there are some bitter souls on reddit towards you chap! wtf is that about?

The dudes on reddit are bitter for being peasants

The dudes on HN are bitter about not getting funded by YCombinator

:music06:

 

[mikeshinobi]

Jaysus there are some bitter souls on reddit towards you chap! wtf is that about?

He's wealthy, and reddit is reddit aka jellyhatersville

 

[BlokBlok]

 

[mituozo]

Where do you purchase and how much of a premium are you paying above curr price?

I'm in the UK, so bitbargain.co.uk, and earlier as the price was crashing I was paying ~MtGox ask, sometimes under. In upswings the premium is usually ~5%.

 

[(O_o)]

your reddit thread blew up like crazy. 1st page of /r/bitcoin.

 

[manihatethis]

lots of jealous pieces of shit in that thread