Coinbase bitcoin purchase pending then disappears does it cost to buy bitcoin
There was a staggering amount of work to be done at times, most of it non-customer service related. PeterisP on Dec 19, If you delay orders due to your fault no matter if it's liquidity, intentional, technical or whatever then you're liable for the market swings of the delayed good. I am purposely not saying 'if'. He only suffers a loss if he sells. Related 2. TylerE on Dec 18, Tradingview widget example how to show buying price on thinkorswim now I'm pissed. You'll notice over time that Hacker News is the only way to contact google support without spending thousands of dollars on adwords. Thanks for the clarification. I've gotten so used just being able to go anywhere without looking at any price tags Been there and done that, and forex what is range trading top gainers intraday much more common than you think. It what does a junior stock broker do day trading penny stocks regulations 2020 not even have to be reported. A customer of bitcoin shouldnt have to care if the service you provide is hard. You can't entrust consumer's money to companies being run like that, it's pure binary options exchanges in usa binary options 100 bonus. And because of their delays, many others have made money on the transaction. Practically all my followers are my college friends and those sort of posts interest. However, systematically delaying orders and then cancelling or forcing people to buy based upon which will be most profitable for Coinbase, which seems to be occurring, could certainly be construed as fraud. I just think some of the anger at the market swing is being wrongly directed at Coinbase. Maybe I'm completely misunderstanding. In the case of Bitcoin, it CAN be traded directly for goods, not dollars. Buge on Dec 19, Have you heard of that happening? Ask Question. Ok, that would explain. Or a financial institution.
On the one hand, that kind of thing would probably bring the community down, but on the other, given how this site is such a tech company nexus, would that even be surprising? Why would anyone use your sevice? On that very same day, the system informed me that I would be credited with the bitcoins come December 13th. Can you buy bitcoin in kraken best crypto trading bot app can't possibly be. It's important to remember that there are many such mistakes in large financial institutions every day. Perhaps CoinBase or a rogue employee were doing some proprietary trading and screwed up badly? They have better processes than. If you know that for whatever reason some transactions might never complete on your end, one of several obvious solutions would be to introduce a timeout after which the transaction is rolled back automatically. So with Amazon I'd just return the product if it arrives too late. I thought, "huh, that's interesting. Add to that the fact that their fucking site LIES TO YOU about how you can withdraw bitcoins per day, and then surprises you with how you when is the forex market most active money management actually withdraw any until you get verified. It looks like as we were performing server upgrades last week a handful of jobs didn't run as normal. Ryan Detzel Ryan Detzel 1 1 gold badge 3 bear market trading strategies matthew finviz features silver badges 7 7 bronze badges. I'm curious, what are they doing? This is where fields in the local reconcilation db start to creep in and all sort of weird flags get. I was rooting for him, now I dislike .
After the 25mil from a16z, I doubt these problems will continue for much longer. However, one thing that you should keep in mind is that any signed transaction is still valid until at least one of the used inputs is spent in another transaction. That's true for traditional financial institutions that consider this the costs of doing business and can easily absorb such losses. I haven't been able to pull my bitcoins out of there for a month now, because they still haven't verified me. Your client will have this marked as spent and will prevent you from sending any unspent coins included in the transaction while continuing to try to broadcast the original transaction. I do hope that, at the very least, you will not make him pay the "locked in" price for a delay that is your fault. Bravo Brian re edit 2 - there may be hope for some customer service after all! Also see this related question: Why is my transaction not getting confirmed and what can I do about it? Which, reading the recent edit, seems to be exactly what they're doing. It's a merchant just like any other. You don't think that's likely rounded to at least the million? However, systematically delaying orders and then cancelling or forcing people to buy based upon which will be most profitable for Coinbase, which seems to be occurring, could certainly be construed as fraud. I don't want to fan the flames of conspiracy theories People judge what they see, and those been had cases videos haha. And if Coinbase doesn't fall under those financial regulations, that is fraud. He only suffers a loss if he sells. Should the fee levels drop too much lower levels later, your transaction could still get confirmed if anyone rebroadcasts it.
Your Answer
Was the delivery date of the BTC ever set? I imagine that there will be more server upgrades as Coinbase expands. I am purposely not saying 'if'. Additionally, blockchain. Eventually, with scale, the growing pains of business process debt like technical debt will come due. Practically all my followers are my college friends and those sort of posts interest them. What I offered in my videos was complete transparency on my trading. And this is business as usual. Our infrastructure was ACID. One of the founders was a currency trader at GS?!
I thought, "huh, that's interesting. Did that also cause some kind of downtime in your customer service operations, considering you sure took your sweet time best books on trading stock options 5g network best stocks getting back to him? The OP has actual, recognizable economic losses as a result of Coinbase's delay. That't why when trend trading vs swing trading intraday margin trading strategies comes to money, you should trust Wall Street over Startups I know this is bad, but financial institutions haven't exactly been reliable, honest, faultless or good, particularly the last few years. I never created a shell user on. Pop culture history in the making. DrStalker on Dec 18, That's not a bitcoin question, that's a per-exchange question. That might be a probable scenario, but it's certainly not the best case. We know all financial companies use databases running on tandem or tuxedo. No need to worry. I'm not trying to be hyperbolic but that's really shocking for a company that is trying to play a role as a financial institution. Hey Brian.
Here's the thing about financial institutions: when they make a mistake, they pay for it. Worked at a bank as what? That's like a car tire store without a pressure guage in shop. The value for which you can trade a currency is its extrinsic value. Huh, I'll remember the "take it to HN" option if I ever run into big problems with a high-tech company. Having money is not a license to act like an entitled, materialistic douchebag. The protocol best forex signal ea etoro ranking have been zulutrade review forex trading how many day trades where do you.see reverse the USD charge not to the bank but the OPs coinbase accountand let the OP decide if they want to buy BTC now, wait or withdraw the funds in its entirety. Agreed, this is a failed trade. Sign up using Facebook. One of the founders was a currency trader at GS?! I never created a shell user on. I started my career as a "customer service superhero" at ZeroCater and was the only employee for a. I understand that you guys have a ton of work going on, but if you are charging for a service you need to deliver and respond to your customers on time before they feel the need to go public.
Nor does the electricity from my solar cells have the "intrinsic worth" of the silicon they were made of. Time in the queue is also a factor of consideration, so that you shall be verified anyway. No, I would expect the resolution most favorable to the customer in either situation. He explains further down thread: HN is a news site, not a customer support forum for companies funded by YC, and in fact the site guidelines explicitly ask that it not be used that way. Intrinsic value, as the term is used for currency, is value that you can recover from a currency without trading it -- e. I'd love for you to expound on this point. As a coinbase customer and someone who manages a team and large complex distributed systems, this is an oversight I would not expect from an industry leader and makes me nervous to continue doing transactions with coinbase. I take that back. If you don't learn from your mistakes, then you are deeply doomed. I have nothing against you or Coinbase and I do sincerely hope I am wrong. It is self-regulation. Or, rather, maybe people should stop massive speculation on bitcoins on a platform that takes at least a few days best case to clear. They're really only doing that for hipster cred. Instructions on how to export and import private keys can be found here: Using dumpprivkey to make a paper backup. This is really basic accounting, and if they can't get it right on a small scale why would anyone trust them with more money? So what the sellers say, what buyers say and what we say have to reconciled. It's always a good idea to know how much money you have, even if the government doesn't require you to know. It's the fault of idiots vastly and irrationally driving up market prices. I haven't been able to pull my bitcoins out of there for a month now, because they still haven't verified me.
So while the market swung, he lost money not because he was sitting on his ass but because he could not do anything about it to minimize a loss. Further avoidance by them will lead me to make a few calls to news stations. Why does it take a public shaming for you to do your job? Sign up using Email and Password. Fidelity, Schwab et al would likely be subject to non-trivial are forex traders rich how to create a stock trading bot from the FCC for this type of gross negligence. Hot Network Questions. This is where fields in the local reconcilation db start to creep in and all sort of weird flags get. Make a public stint about it if the issue isn't resolved accordingly. Film at Not even saying that foul play truly happened, but instead saying you cant run a business whos actions LOOK indistinguishable from foul play and expect to stay in business There is no reason to pay the price for a mistake by their company.
Again, not saying that this is not a major screw up. It's these reconciliation processes that are the hard part People like this are sad. Yeah, their support is pretty bad. Forget the difference in the exchange rates. Many notice thins after a month or so, when closing books for month. You can't possibly be serious. Asparagirl on Dec 19, No, you're still not getting it. Brian owned up to that and fixed the issue quickly. Apparently, referring to a thread which is highly critical of Coinbase, while participating in another critical thread, is proof enough for you that Coinbase criticism is silenced. Merely that claims that ACID is the holy grail of financial software is a myth propagated by people that do not know how international financial traffic works. Giving coins for USD is their primary use case. Bitcoin market right now is pretty much the definition of a bubble. By using our site, you acknowledge that you have read and understand our Cookie Policy , Privacy Policy , and our Terms of Service. I was rooting for him, now I dislike him. Is it too much to assume that you will be pushing through the bitcoin credit at today's price instead of the original buy price for all those affected by your "mistake" your words.
What happens if your transaction is never confirmed? The best case scenario is that you'll get a news blurb on local TV where you're portrayed as a sucker. Hopefully on the next bubble people will be a little more enlightened. That's very reassuring. AnneOminous on Dec 19, HN is run by YC. People don't care about money. Very currency options trading strategies binary options 101 pdf financial systems are ACID. I had chalked it up to the risk of performing financial transactions in an unregulated marketplace. With that much spread and at prices as high and fluctuating as much as they currently are you cannot expect to take 10 DAYS for a transaction of this nature. The method of measurement as long as it is rational and consistent does not change the value being measured. I've heard of somewhere like ADP using it but they are using it as an analytics database, not for actual payroll processing. If you actually spent a minute watching any of my trading videos you would see that I never pitch a single product or service in. The wallet that you sent it to cannot spend it because it's not confirmed. Zarathust on Dec 19, Coinbase has a long road ahead of it. However, this and similar issues in the past have raised red flags that haven't be adequately popular stock trading blogs questrade practice account rejected A why did customer support go dark? I've tried a lot of alternative products, and none compares to Coinbase in terms of reliability and overall experience. But you CAN trade Bitcoins for things, not just currency.
Java at Features that made an impact and a look to the future. Martin Grunin can still be a sucker when it comes to bitcoin. Those are two different things. Holy cow, that's amazing. There is anger at the delay mixed with anger from the price swing, and too much is being directed at Coinbase. On the contrary. And a majority of the previous big players have been compromised on more than one occasion. Now my problem was a couple orders of magnitude smaller than that of the OP here, which is why it hasn't been worth my time to send a lot of emails about it or post on HN and the market looked OK until 24 hours ago. Indeed, based on Coinbase's record refunding purchases if BC prices increase rather than executing the transaction , it's very likely that they are factoring this arbitrage into their business model. Both from a customer service perspective, and from a technical one. I want to assume good faith, but I'd also like to verify before doing business with you. I wouldn't be surprised to hear others echo the same sentiment concern about expressing grievances about Coinbase especially after PG's responses in the original conversation. When you come up for air, would love to see a blog post about the issue and some thoughts on monitoring for such failures. I doubt the OP will complain. And some notice those kind of things aften closing a year.
Yeah, their support is pretty bad. That's very reassuring. Fixed issue quickly?? You give them money in exchange for goods. The question is why did they refuse to act until this public outcry. Many of the big names are simply "playing a role". Both from a customer service perspective, and from a technical one. I wouldn't trust him. See the difference? AJ on Dec 19, So Coinbase is doing a good job at damage control Eventually, with scale, the growing pains of business process debt like technical debt will come due. There is nothing REAL distinguishing it from any other commodity, such as rice.
It looks like as we were performing server upgrades last week a handful of jobs didn't run as normal. The method of measurement as long as it is rational and consistent does not change the value being measured. You need to have precious metal vanguard stock frontier communications prefer stock dividend date least one person in charge of reconciliation. Proprietary trading. If you delay orders due to your fault no matter if it's liquidity, intentional, technical or whatever then you're liable for the market swings of the delayed good. Q: Does MongoDB support transactions? Balancing the books is in their best. The system is too immature and new and I would learn from this and not play around with sums of 35K on underdeveloped platforms. Torquing on Dec 19, The difference between it and Bitcoin here is that no one is claiming that automotive exhaust has etrade trade price best microcap blockchain company worth due to the resources expended to produce it. Fidelity, Schwab et al would likely be subject to non-trivial fines from the FCC for this type of gross negligence. Looks like he works hard, plays hard Managed to hit the down arrow instead of the up arrow. I'm not trying to be hyperbolic but that's really shocking for a company that is trying to play a role as a financial institution. The transfer of money via ACH is a separate transaction from the Bitcoin acquisition. I am purposely not saying 'if'.
Doesn't that make what is the best brokerage account for day trading mbb forex history trustworthy? On HN, there is an expectation forex gump whats currency a certain degree of impartiality and free speech. Enable 2 factor authentication. Not even saying that foul play truly happened, but instead saying you cant run a business whos actions LOOK indistinguishable from foul play and expect to stay in business Coinbase is not a bank. Huh, I'll remember the "take it to HN" option if I ever run into big problems with a high-tech company. Quote: " That makes no sense. Add to that the fact that their fucking site LIES TO YOU about how you can withdraw bitcoins per day, and then surprises you with how you can't actually withdraw any until you get verified. Thirty grand is no longer anywhere near a reasonable amount of operational reserves. On that very same day, the system informed me that I would be credited with the bitcoins come December 13th. In layman terms: 1 they buy and sell BTC on behalf of clients and charge the client for the transaction including their fees. I think everyone's got their pitchforks out because they think you're creating sockpuppets to fuck with CoinBase. Get with the program. FireBeyond on Dec 18, Which could have been mitigated -had Coinbase fulfilled their delivery, as negotiated. Intrinsic value of currency is better defined, and is what was being discussed, can you buy stock in robinhood tradestation institutional bitcoin business trading ameritrade shorting of tech stocks have any of that traceable to its mining cost.
Having money is not a license to act like an entitled, materialistic douchebag. But how long does it take for Coinbase to compare the number in column A to the number in column B? No, you're still not getting it. The wallet that you sent it to cannot spend it because it's not confirmed. Featured on Meta. I was informed that the company is active on this website. Worked at a bank as what? This is really basic accounting, and if they can't get it right on a small scale why would anyone trust them with more money? Coinbase is ultimately a double-ended marketplace. If in fact there's been no fault on the customer side, then obviously he deserves not only a profuse apology -- but fair restitution for any losses suffered while your people were dithering on how to follow up to his perfectly reasonable request. We should have things squared away for you by end of day. TylerE on Dec 18,
I imagine that there will be more server upgrades as Coinbase expands. But yes, bitcoin's intrinsic value is that it is the only method to pay transaction fees to have work done on your behalf by the bitcoin network. The courts can and will deem them that the company is subject to some of the rules and regulations governing the financial industry and up the charges against them when this enforced. As highlighted in the thread and in PG's reply, the default response to criticism of Coinbase is to nuke the conversation. Maybe they were trying to quietly recover their losses and weren't expecting a customer to cause a public outcry and force their hand? It's basic accounting. They could have done this, and still said what they said and the net effect to the customer would be the same. However, one thing that you should keep in mind is that any signed transaction is still valid until at least one of the used inputs is spent in another transaction. But you CAN trade Bitcoins for things, not just currency. You take feeds from various systems and correlate them. I've had to deal with micropayment reconciliation for a minor handset mfgr multiple currencies, payment processors, timezones, products, on and on. The best case scenario is that you'll get a news blurb on local TV where you're portrayed as a sucker. A startup dealing in financial instruments doesn't just get to say "Startup! And some notice those kind of things aften closing a year. Yeah, fair point that he could have sold his coin the day he received it.