Page 16 of 55 FirstFirst ... 6 14 15 16 17 18 26 ... LastLast
Results 226 to 240 of 825

Thread: Anyone Into Digital Currency?

  1. #226
    Shelter Dweller PorkChopSandwiches's Avatar
    Join Date
    Jan 2011
    Posts
    77,135
    vCash
    5000
    Mentioned
    15 Post(s)
    Thanks
    47,197
    Thanked 29,254 Times in 16,488 Posts
    The majors up 15% today






  2. #227
    Basement Dweller Godfather's Avatar
    Join Date
    Jan 2011
    Location
    Vancouver
    Posts
    16,820
    vCash
    13129
    Mentioned
    28 Post(s)
    Thanks
    4,305
    Thanked 6,770 Times in 4,009 Posts
    Good recovery. I'm ashamed to say I sold 1btc around $6800usd to lock in some gains, regretting that at the moment but we're still in a bear market I believe.

  3. #228
    Shelter Dweller PorkChopSandwiches's Avatar
    Join Date
    Jan 2011
    Posts
    77,135
    vCash
    5000
    Mentioned
    15 Post(s)
    Thanks
    47,197
    Thanked 29,254 Times in 16,488 Posts
    Well, gains are gains






  4. #229
    Basement Dweller Godfather's Avatar
    Join Date
    Jan 2011
    Location
    Vancouver
    Posts
    16,820
    vCash
    13129
    Mentioned
    28 Post(s)
    Thanks
    4,305
    Thanked 6,770 Times in 4,009 Posts
    I made some of my fuck-up back. Bought a chunk of LTC at $160CAD and sold at $280 CAD. I'm going to rebuy shortly because it's coming back down now.

  5. #230
    #DeSantis2024 Teh One Who Knocks's Avatar
    Join Date
    Jan 2011
    Location
    5280' Above Sea Level
    Posts
    256,044
    vCash
    10966
    Mentioned
    20 Post(s)
    Thanks
    23,810
    Thanked 113,085 Times in 59,902 Posts

    As Bitcoin Soars, So Do Coinbase Customer Complaints

    Rob Wile - Coin Desk




    It was around midnight, January 31, when K. received an email from Coinbase containing a 1099 tax form. That was strange enough - K. certainly didn't expect a cryptocurrency exchange to be a conduit for government documents.

    Then K. looked at how much Coinbase said he owed money on: $2.4 million.

    "I initially freaked out, considering I've probably put in a max of $8,000 into Coinbase and somehow I may be liable for millions?" K. said in an online chat with CoinDesk.

    The next business day, K. called Coinbase customer support, only to have a representative tell him he couldn't answer the details on the phone, and to email the company instead.

    Which he did, only to get a formulaic response showing the IRS guidance to Coinbase.

    To this day, K says he has no idea where the $2.4 million figure came from. He says he is too busy to jump through more hoops with the largest exchange in the U.S., and that he feels safe in the knowledge that he doesn't have to pay taxes on $2.4 million in earnings, since they don't exist.

    More users, more problems

    K. is far from alone in wrestling with an apparent misfire from Coinbase.

    In recent weeks, complaints have been piling up on a Reddit page dedicated to the company. The issues mentioned are wide-ranging: missing wires, unreleased bitcoin, disabled accounts.

    The top posts on the page over the past month look like this:



    A representative for Coinbase, Stephanie Kendall, said the company was unable to comment on the complaints.

    Stepping back, as crypto values spiked during the recent run-up, several major exchanges heaved under the weight of new demand. Kraken, the third-largest exchange in the world, suffered an outage earlier this year that was supposed to take two hours but ended up lasting two days as it upgraded its system.

    Bitfinex also suffered a malfunction late last year due to a denial-of-service attack.

    But perhaps above all others, user growth at Coinbase has gone gangbusters. The userbase has more than doubled since 2016 to more than 10 million customers today, according to spokeswoman Kendall. The company now employs about 200 people, she said.

    Service at the exchange had already begun showing signs of strain when the company announced in August it had raised $100 million, and said some of the new funding would go toward alleviating customer service pressure. Late last month, it hired a new vice president of operations and technology, Tina Bhatnager, to oversee customer support. It also appointed Dan Romero with the title of general manager of Coinbase, in a blog with the headline: "Customer support: failure is not an option."

    But the complaints are still coming in fast and furious.

    Perhaps most distressingly, a number of Coinbase users recently reported unauthorized charges to their linked bank accounts. In some cases, these charges, which duplicated previous legitimate withdrawals, completely drained customers' funds and left them owing their banks hefty overdraft fees.

    And now, perhaps sensing a weakness, formidable new competitors are encroaching on Coinbase's retail turf: the stock brokerage platform Robinhood, which now has 1 million crypto users; and Square, which now allows buying and selling bitcoin through the Square Cash app.

    Squeaky wheels

    For now, though, there remains the question of what to do if you're impacted.

    Coinbase user Suzepo, who lives in Italy, says it took him three tries over the course of a month for his verification deposits to go through. It was apparently only after he added the name of his bank that it went through; there were apparently no instructions on Coinbase's part that this was necessary.

    He said that in his attempts to reach Coinbase, he didn't get a single response until the very end of his ordeal. While he appreciates that there was no delayed purchases, and immediate fund input, he ultimately felt frustrated by the support assistance, or lack thereof.

    "No response from the support team, customers left alone to deal with their own issues and that big [verification] transfer burden," he says.

    Reddit user crypt_iss complained about a botched transaction in a post that was heavily upvoted on Coinbase's subreddit. As of last week, he said he has "technically withdrawn" the amount but it is still not in his Coinbase vault. Yet Coinbase shows the transaction as completed in one location and pending in another, he says.

    "No one from help desk has called, it is only email messages. If this post would not had risen to top here, even this would not had happened. I really cannot believe they have such poor handling of so many parts. Move fast and break things culture I guess," he said.

    Sergej Kotliar, the CEO of crypto mobile phone card provider Bitrefill, told CoinDesk he had no reason to believe the users' complaints weren't legitimate.

    Making a stink on social media "is a good way to get helped, and people who are missing tens of thousands of dollars can get pretty upset," he said.

    Kotliar also said he doubted the complaints were being astroturfed, i.e. orchestrated by competitors to sow doubts about Coinbase.

    "Who would be their rivals? This is growing pains," he said. "They really grew very big."

    Disclaimer: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase.

  6. The Following User Says Thank You to Teh One Who Knocks For This Useful Post:

    Godfather (02-19-2018)

  7. #231
    Basement Dweller Godfather's Avatar
    Join Date
    Jan 2011
    Location
    Vancouver
    Posts
    16,820
    vCash
    13129
    Mentioned
    28 Post(s)
    Thanks
    4,305
    Thanked 6,770 Times in 4,009 Posts
    The big exchanges have almost all had some major consumer complaints which I've seen over and over on reddit. It's concerning for sure.

  8. #232
    Shelter Dweller PorkChopSandwiches's Avatar
    Join Date
    Jan 2011
    Posts
    77,135
    vCash
    5000
    Mentioned
    15 Post(s)
    Thanks
    47,197
    Thanked 29,254 Times in 16,488 Posts






  9. #233
    #DeSantis2024 Teh One Who Knocks's Avatar
    Join Date
    Jan 2011
    Location
    5280' Above Sea Level
    Posts
    256,044
    vCash
    10966
    Mentioned
    20 Post(s)
    Thanks
    23,810
    Thanked 113,085 Times in 59,902 Posts

    Update Canada: TD Bank Bans Credit Card Purchases of Crypto Following Global Trend

    By Helen Partz - Coin Telegraph




    Following in the footsteps of several major banks globally, the Toronto-Dominion Bank (TD), one of the largest banks in North America, announced in an email statement to customers on Friday, Feb. 23, that it is banning the purchase of cryptocurrency with credit cards, local journal The Globe and Mail reports.

    A representative of TD, the first major Canadian bank to enact such a ban, said that the bank regularly evaluates its policies and security measures “in order to serve and protect our customers, as well as the bank.”

    TD’s move is part of a larger global trend of banks banning customers from credit card purchases of cryptocurrency. The wave of bans was initiated by US giants J.P. Morgan Chase, Bank of America, and Citigroup on Feb. 3, and followed by the largest bank in the UK, Lloyds Banking Group, Feb. 5, and Virgin Money in Australia, South Africa, and the UK on Feb. 6. Last week, Citibank India went ahead with banning both credit and debit cards for crypto purchases.

    According to The Globe and Mail on Feb. 23, the Royal Bank of Canada made of point of stating that it does allow both debit and credit card purchases of cryptocurrency, but it warns its customers about high volatility risks which "could expose them to substantially higher debt levels than they are able to repay.”

    In a contrasting move for the local industry, on Feb. 13, a Canadian stock exchange announced that it will soon launch its own Blockchain-based securities clearing and settlement platform that help companies raise funds via fully regulated security tokens issued by the exchange.

  10. #234
    Shelter Dweller PorkChopSandwiches's Avatar
    Join Date
    Jan 2011
    Posts
    77,135
    vCash
    5000
    Mentioned
    15 Post(s)
    Thanks
    47,197
    Thanked 29,254 Times in 16,488 Posts
    Thats a good way to lose customers






  11. #235
    Basement Dweller Godfather's Avatar
    Join Date
    Jan 2011
    Location
    Vancouver
    Posts
    16,820
    vCash
    13129
    Mentioned
    28 Post(s)
    Thanks
    4,305
    Thanked 6,770 Times in 4,009 Posts
    Honestly it makes sense. You can’t buy stocks and bonds with visa either. People can say it’s not fair, but ultimately I see it legitimizing crypto as a form of investing.

  12. #236
    Shelter Dweller PorkChopSandwiches's Avatar
    Join Date
    Jan 2011
    Posts
    77,135
    vCash
    5000
    Mentioned
    15 Post(s)
    Thanks
    47,197
    Thanked 29,254 Times in 16,488 Posts
    I guess you can do a cash advance and pay the massive interest if you really wanted.






  13. #237
    Shelter Dweller PorkChopSandwiches's Avatar
    Join Date
    Jan 2011
    Posts
    77,135
    vCash
    5000
    Mentioned
    15 Post(s)
    Thanks
    47,197
    Thanked 29,254 Times in 16,488 Posts
    Got my L3+ Antminer up and running yesterday. I mines about .05 Litecoin a day (around $10 at current price). Mainly just want LTC for long term hold. Cost about $1400 shipped, so payback in roughly 5 months and then its profit






  14. #238
    Basement Dweller Godfather's Avatar
    Join Date
    Jan 2011
    Location
    Vancouver
    Posts
    16,820
    vCash
    13129
    Mentioned
    28 Post(s)
    Thanks
    4,305
    Thanked 6,770 Times in 4,009 Posts
    I want a new video card for my gaming PC. You bastards have ruined it for us

    Seriously though, that's sweet.

  15. #239
    #DeSantis2024 Teh One Who Knocks's Avatar
    Join Date
    Jan 2011
    Location
    5280' Above Sea Level
    Posts
    256,044
    vCash
    10966
    Mentioned
    20 Post(s)
    Thanks
    23,810
    Thanked 113,085 Times in 59,902 Posts

    Oops Bitcoin's Bad Week Just Got Worse

    Bloomberg


    Bitcoin’s rough week looks set to end on a sour note.

    The virtual currency fell 6.1% to $8,758.09 at 3:43 p.m. Hong Kong time on Friday, after earlier losing as much as 10%.

    Bitcoin has slumped more than 20% this week amid increased regulatory scrutiny in the U.S. and Japan, an attempted theft at one of the biggest trading venues, and news that the bankruptcy trustee for Mt. Gox has started selling the now-defunct exchange’s holdings to repay creditors.

    “The screen is flashing red today and people are getting fearful,” said Caleb Yap, co-founder of Singapore Bitcoin Club. “Weak hands are definitely wanting to sell. If Mt. Gox can dump $400 million of Bitcoin just like that and there’s still billions left, the fear is when is the big drop coming.”

    Mt. Gox’s bankruptcy trustee, Nobuaki Kobayashi, disclosed on Wednesday in Tokyo that he sold about $400 million of Bitcoin and Bitcoin Cash since late September, part of the hoard left behind when the exchange collapsed four years ago. Kobayashi is studying further sales of the $1.8 billion remaining.

    Signs of growing regulatory scrutiny have added to investor jitters. On Thursday, Japan’s Financial Services Agency ordered two exchanges to halt operations for a month and penalized four others. That announcement came just hours after a warning from the U.S. Securities and Exchange Commission that many online trading platforms should register with the agency.

    Around the same time, Binance, one of the world’s biggest crypto exchanges, said it had been the target of a “large-scale phishing and stealing attempt.” While it said “all funds are safe,” Binance noted that it was unable to reverse some trades from accounts targeted by the hackers.

    “These are all growing pains,” said SJ Oh, a Hong Kong-based trader at Octagon Strategy. “And while hurtful today, the fact that regulators are cracking down will be good for the long run.”

  16. #240
    Shelter Dweller PorkChopSandwiches's Avatar
    Join Date
    Jan 2011
    Posts
    77,135
    vCash
    5000
    Mentioned
    15 Post(s)
    Thanks
    47,197
    Thanked 29,254 Times in 16,488 Posts
    It's not been great, I still have confidence in the long term though






Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •