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They seem like a chronic bad actor. I believe small claims court, BBB, CFPB are all valid recourses. Better still - if you can make this a class action by elic

They seem like a chronic bad actor. I believe small claims court, BBB, CFPB are all valid recourses. Better still - if you can make this a class action by eliciting similar victims to come forward, you may actually get them to change their ways. Right now it seems like they can simply fuck with you without consequence. And then there's the irony of coinbase being a middlemen in a market that aimed to remove the middlemen

benbreen 9y ago
It really does seem like they don't care about the consequences. I was listening to Reid Hoffman's "Masters of Scale" podcast where he talked about LinkedIn simply unplugging their customer service line when they were in the midst of a particularly fast period of expansion. That's maybe acceptable if you run a social network, but I fear that Coinbase has taken that lesson to heart and applied it to a business where real money is at stake. I'm increasingly concerned that Coinbase will either get sued or regulated out of business before they can give me my funds back - which at this point should be around 2.5k, so not a fortune, but also not inconsiderable either. I guess I'll look into a lawyer but it bums me out that it has to come that...
- orarbel1 9y ago
  Wasn't he talking about PayPal? (Also money service)
baddox 9y ago
Huh, how are they a middleman? You mean between individuals trading (GDAX) or between cryptocurrency and fiat currency (the main Coinbase.com product)? Neither of those services are what I would call a “middleman,” and neither of them are “supposed” to not exist in the cryptocurrency market (with the exception of some proposals to create fully decentralized exchanges).
user5994461 9y ago
>>> Better still - if you can make this a class action by eliciting similar victims to come forward, you may actually get them to change their ways. Right now it seems like they can simply fuck with you without consequence. That's what exchanges do, screw their customers. In fact, the biggest issue is the owner running away with the money, that's why exchanges are regulated.
smoyer 9y ago
Assuming you're in a different state/country than their nexus(es), the Interstate Commerce Commission might also be interested in a large number of defrauded [0] customers. [0] PayPal also seems to freeze (for long periods) and in some cases confiscate customer's funds for no reason. I'm purposely using the word fraud because that's not the reasonable expectation of those originally transmitting or depositing funds with the service.

benbreen 9y ago

It really does seem like they don't care about the consequences. I was listening to Reid Hoffman's "Masters of Scale" podcast where he talked about LinkedIn simply unplugging their customer service line when they were in the midst of a particularly fast period of expansion. That's maybe acceptable if you run a social network, but I fear that Coinbase has taken that lesson to heart and applied it to a business where real money is at stake. I'm increasingly concerned that Coinbase will either get sued or regulated out of business before they can give me my funds back - which at this point should be around 2.5k, so not a fortune, but also not inconsiderable either. I guess I'll look into a lawyer but it bums me out that it has to come that...

orarbel1 9y ago
Wasn't he talking about PayPal? (Also money service)

baddox 9y ago

Huh, how are they a middleman? You mean between individuals trading (GDAX) or between cryptocurrency and fiat currency (the main Coinbase.com product)? Neither of those services are what I would call a “middleman,” and neither of them are “supposed” to not exist in the cryptocurrency market (with the exception of some proposals to create fully decentralized exchanges).

user5994461 9y ago

>>> Better still - if you can make this a class action by eliciting similar victims to come forward, you may actually get them to change their ways. Right now it seems like they can simply fuck with you without consequence. That's what exchanges do, screw their customers. In fact, the biggest issue is the owner running away with the money, that's why exchanges are regulated.

smoyer 9y ago

Assuming you're in a different state/country than their nexus(es), the Interstate Commerce Commission might also be interested in a large number of defrauded [0] customers. [0] PayPal also seems to freeze (for long periods) and in some cases confiscate customer's funds for no reason. I'm purposely using the word fraud because that's not the reasonable expectation of those originally transmitting or depositing funds with the service.