28 ms·
Coinbase Exchange
- cryowaffle 12y agoColorado: not available in your state
- jzwinck 12y agoIt's a matter of licensing. Here is one page you can use to find your (Colorado) state representatives, whom you could contact: http://www.colorado.gov/esri/webmaps/my-hood.html?webmap-id=0bbdbd4450154b1c9a9827d21c862dad http://www.colorado.gov/esri/webmaps/my-hood.html?webmap-id=...
- deleted 12y ago[deleted]
- deleted 12y ago[deleted]
- brianbreslin 12y agoFlorida: Not available in your state. Why don't they have a list public of this? Also is this going to drive state based VPNs?
- artursapek 12y agoYou need to provide an address in a supported state. The fact that they tell you up-front based on your IP before you waste your time signing up is just a convenience they are doing you.
- jzwinck 12y agoThere is a public list, though perhaps not linked from the page you were on: https://support.coinbase.com/customer/portal/articles/1780543-what-is-the-usd-wallet- https://support.coinbase.com/customer/portal/articles/178054... The exchange currently trades BTC-USD, which means you must have a USD balance, and for that to be allowed you must be in one of the above listed states. If you live in a state which is not yet supported, you can write to your state representatives and let them know your wishes.
- brianbreslin 12y agoWhen I checked the help page earlier that link was giving me a 404. good to know.
- notyourwork 12y agoOhio: not available in your state.
- jzwinck 12y agoIf you want Coinbase Exchange in Ohio, you should write to your elected representatives and discuss it with them. You can find a list and a map of them here: https://www.govtrack.us/congress/members/OH https://www.govtrack.us/congress/members/OH
- apaprocki 12y agoThere are 14 states are listed here: https://www.coinbase.com/legal/licenses https://www.coinbase.com/legal/licenses Alabama, Arkansas, Delaware, Georgia, Idaho, Iowa, Kansas, Mississippi, New Hampshire, New Jersey, North Dakota, Puerto Rico, Washington, West Virginia Sounds like they haven't updated that page because I was able to login and I'm in NYC. edit: Screenshot here https://imgur.com/AdAX1LM https://imgur.com/AdAX1LM edit2: USD Wallet link lists states: https://support.coinbase.com/customer/portal/articles/1780543-what-is-the-usd-wallet- https://support.coinbase.com/customer/portal/articles/178054... Alabama (AL) Arkansas (AR) California (CA) Delaware (DE) Georgia (GA) Idaho (ID) Illinois (IL) Indiana (IN) Iowa (IA) Kansas (KS) Massachusetts (MA) Mississippi (MS) Missouri (MO) Montana (MT) New Hampshire (NH) New Jersey (NJ) New Mexico (NM) New York (NY) North Dakota (ND) Puerto Rico (PR) South Carolina (SC) Washington (WA) West Virginia (WV) Wisconsin (WI)
- jzwinck 12y agoThe USD Wallet list is the relevant/complete one for the exchange. The list is also on this page: https://support.coinbase.com/customer/portal/articles/1826671-what-countries-are-supported-for-coinbase-exchange- https://support.coinbase.com/customer/portal/articles/182667...
- Animats 12y agoThe USD Wallet List is the list of states in which they claim to have licenses. The list at https://www.coinbase.com/legal/licenses https://www.coinbase.com/legal/licenses seems to be the list of where they actually do. I checked NY and CA yesterday, and Coinbase isn't a listed money transmitter in either state. Such pseudo-compliance is troubling. It suggests other problems. Remember, over half of Bitcoin exchanges have failed, usually taking user deposits with them.
- jnbiche 12y ago> The USD Wallet List is the list of states in which they claim to have licenses. No, it's the list of states that the wallet supports. Essentially, it's a list of states in which they believe they have the right to operate legally. Several of those states listed, for example, have no money transmission license requirements. And I believe NY has said that any enforcement will only happen after the Bitlicense is in place. I'm sure Coinbase has problems we're not aware of (any rapidly growing business does), but they're clearly striving for legal compliance, arduous and farcical though those legal requirements may be.
- cddotdotslash 12y agoCalifornia (VPN): Not available in your state New York: Not available in your state
- jzwinck 12y agoDo you have a Coinbase account (non-exchange) already? What state is it registered to?
- cddotdotslash 12y agoYes. New York.
- jordsmi 12y agoPennsylvania: Coinbase Exchange is not yet available in your state. :(
- jzwinck 12y agoHere's a page you can use in your state to find your local legislators, in case you want to discuss the exchange licensing with them: http://www.legis.state.pa.us/cfdocs/legis/home/findyourlegislator/ http://www.legis.state.pa.us/cfdocs/legis/home/findyourlegis...
- _nickwhite 12y agoNorth Carolina: Coinbase Exchange is not yet available in your state.
- jzwinck 12y agoHere is who you can write to if you want to encourage your state to approve the relevant licenses: http://www.ncleg.net/representation/whorepresentsme.aspx http://www.ncleg.net/representation/whorepresentsme.aspx
- WillyNourson 12y agoCoinbase Exchange API, protectedd by CloudFlare ? Hum.
- comboy 12y agoFor lurkers: http://bitcoinity.org/markets/coinbase/USD http://bitcoinity.org/markets/coinbase/USD
- jscheel 12y agoGrrrr, not available in TN. Of course. What specifically should we petition our representatives for? What kind of licensing does Coinbase need? Money transmitter, currency exchange, etc?
- nicpottier 12y agoLooks pretty great at first glance, certainly trust Coinbase more than any other BTC player. Kind of interesting that Coinbase is competing with itself on ways of buying BTC. Their standard "buy" mechanism currently has BTC at ~$282, while the last trade was ~$278 on the exchange.
- jafaku 12y agoBut they will charge a 1% fee on the exchange, which in this case would be 2.78. Another difference (I think) is that they often cancel your order as brokers (many people have complained of buying, and then when the price goes up Coinbase rejects their buy order), but not as exchange.
- nawitus 12y ago"and accidental loss in an amount that covers maximum value of bitcoin we hold in online storage at any given time" What about the value in the offline storage?
- jafaku 12y agoLet's hope they are using a good multi-signature scheme.
- raamdev 12y agoUsing Google Chrome, I had to turn off "Click to play" Plugins and switch back to the default of "Run all content" in Chrome's Content Settings, otherwise visiting https://exchange.coinbase.com/trade https://exchange.coinbase.com/trade (while logged into my Coinbase account) showed nothing but a blank page with a background color (i.e., there were no grey boxes where I could "Click to play", as I would've expected).
- pokstad 12y agoHmmm, I run Safari with no flash plugin and it worked fine for me.
- pibefision 12y agoIs this the first Exchange in USA? What about Kraken? I've been using Kraken and works great.
- jafaku 12y agoIt's the first licensed (as money-transmitter) exchange. The first non-licensed was Gox I guess. And Kraken is European I think.
- hoopism 12y agoCompletely off topic and likely to be downvoted (ugh)... but those stock blue buttons and website format is being used more and more for for vaporware type products/projects... I noticed today that I get an immediate negative reaction to seeing this style. Anyone else think bootstrap stock format (is that what this is?) has turned into a negative connotation?
- onewaystreet 12y ago>Anyone else think bootstrap stock format has turned into a negative connotation? Yes, but that isn't the case with Coinbase. Blue is their chosen brand color so they use it everywhere. Bootstrap just happens to also use blue by default so now blue buttons have become synonymous with it.
- hoopism 12y agoInteresting note for branding... avoid popular stock framework colors.
- wuliwong 12y agoYea, that's actually what I was thinking from your comment and the response. Something to consider though, has your target market seen many stock bootstrap sites. Unless you are targeting other developers, chances are they have seen stock bootstrap far less than we have. I've shown a lot of "regular" people sites I spun up using bootstrap with just slight changes and I've actually gotten a lot of comments about how nice it looks. My assumption was that they had no idea what Bootstrap from Twitter was and had seen very few sites that employed it.
- wuliwong 12y agoAre you saying that because of your knee jerk negative reaction to the default bootstrap styles that you think that you might be having a negative feeling about Coinbase's site? That's kind of interesting given that obviously Coinbase has a legitimate design team. I try to be forgiving about the use of bootstrap with the default styles when it is obviously an experiment or new side-project (as I've done it myself more than once) but I think there is a part of me that can't help but have a little negative reaction to it.
- hagope 12y agoCool! I've place a sell order for 0.94495180 at $300 ... lets see if it fills... A few things I noticed that could be improved.... 1) an easier way to enter orders for qty and price (like a way to copy my BTC balance to the sell box or a dial) ... 2) I didn't like the price indicator on the right of the chart, how it jumps around when you mouseover the chart its confusing... the price should follow the cursor and the rightmost price should show the current price
- film42 12y agoI'm wondering what the lifetime of an order is. On the stock market, many orders are canceled if they're not fulfilled in that trading day. An exchange like this works a bit different. Could anyone shed some light?
- sillysaurus3 12y agoCoinbase is insured against hacking, internal theft, and accidental loss in an amount that covers maximum value of bitcoin we hold in online storage at any given time. When marketers advertise in bad faith, you could end up with a bad product. In this case, however, you could end up losing your money. Unless you have multisig control over your coins, do not put large sums into this exchange unless you want to lose your money. 98% of customer bitcoin is stored entirely offline. This means the vast majority of users don't have multisig control over their coins, since multisig-protected coins can't be put into offline storage. Let's recap Coinbase's technical problems over the years: Here's someone who sent $35k to Coinbase and never received coins until they made a big deal about it on HN: https://news.ycombinator.com/item?id=6929705 https://news.ycombinator.com/item?id=6929705 Here's someone with the same story, but $10k instead of $35k: https://news.ycombinator.com/item?id=6933360 https://news.ycombinator.com/item?id=6933360 Here's Coinbase leaking emails and full names: https://news.ycombinator.com/item?id=7507493 https://news.ycombinator.com/item?id=7507493 Here's a Coinbase engineer saying "there are a few lingering issues" in response to transactions being delayed for days (sometimes over a week) and BTC not being able to be withdrawn: https://news.ycombinator.com/item?id=5427985 https://news.ycombinator.com/item?id=5427985 And now they're trying to pretend like your coins are completely safe. They're not. If Coinbase becomes insolvent and goes bankrupt, you won't get your coins back. It happened to Mt. Gox, it sucked for me, and if it happens to Coinbase it's going to suck for you. Don't put more than a few bucks into this, or whatever you're comfortable with losing.
- jgeerts 12y agoYou are completely right but from a legal standpoint their launch is very interesting either way.
- jafaku 12y ago> This means 98% of customers don't have multisig control over their coins, since multisig-protected coins can't be put into offline storage. What makes you think you can't use multi-sig and offline storage at the same time? That's just false. You don't need an internet connection to sign a multi-sig transaction. But I agree on everything else: 98% of funds aren't insured, and to me Coinbase has always been just another Rails startup (not necessarily a bad thing, but they made tons of mistakes typical of having web developer talent only).
- tptacek 12y agoI'm an aspiring trading tech nerd and would love more details on how this was built --- particularly, how it was tested. What kind of test data used? How were test orders matched and executed? Were there simulated traders on both ends? I've actually seen how this is done on a couple major US exchanges and was surprised by how minimal the tooling was. It created major (but fun) challenges for security testing.
- deleted 12y ago[deleted]
- deleted 12y ago[deleted]
- deleted 12y ago[deleted]
- deleted 12y ago[deleted]
- sillysaurus3 12y agoHomakov did an interesting writeup about a security architecture for an exchange: http://homakov.blogspot.com/2015/01/bitstamp-problem-and-warm-wallets.html http://homakov.blogspot.com/2015/01/bitstamp-problem-and-war... You're probably looking for details beyond the security architecture, like how an exchange is implemented, but I figure I'd mention it.
- chollida1 12y agoI can't speak as to how coinbase tested their specific exchange, but having written 4 trading systems and some exchange code, I can probably answer many of the questions you have. Email in my profile...
- sandGorgon 12y agocould I ask a quick question here ? I have written a few ecommerce payment carts and reconciliation systems - I have built the maker checker processes and batch processes that account for refunds/erroneous txns, etc. I have two big specific questions in exchanges : 1. injecting new inventory - But I could probably think of an exchange built using a couple of queues in rabbitmq and a few python workers... but this will not give me subsecond latency. What would you choose to build a super low latency eventing system using current off-the-shelf components ? 2. the order matching system. does the choice of programming language make a difference ? probably the matching system is where you need strong type checking. I suppose that the maker-checkers and EOD reconciliation remains the same. @tptacek - I dont understand your question about testing. do you refer to testing of sub-microsecond latencies/race conditions ? Is there even a way to simulate that (Jepsen?)
- level09 12y agowhat is the reason behind blocking this in many states and internationally ? I would really like to send some bitcoins and use their trading platform.
- detaro 12y agoLegal requirements. They are not allowed to operate in all states, and internationally each country has its own rules for this kind of thing.
- dperfect 12y agoLet's hope they aren't using MongoDB to power the exchange platform. The Coinbase careers page seems to suggest they still use MongoDB[1], though to be fair, it also lists postgreSQL (I'm only aware of Toshi[2] using postgreSQL at the moment). I'm not saying it'd be impossible for MongoDB to be used effectively for a trading platform, but it'd be a lot more difficult than other options. Not trying to spark a debate here about MongoDB (it's great for certain applications). This has, however, been brought up previously as a concern about Coinbase (and they've denied accusations of lost money relating to it). Whether or not it's actually been a real problem in the past, I believe the concern is still valid. [1] https://www.coinbase.com/careers/9275 https://www.coinbase.com/careers/9275 [2] https://github.com/coinbase/toshi https://github.com/coinbase/toshi EDIT: Downvoters - care to explain why such a key piece of infrastructure for an application like this isn't a valid topic for discussion, or at least why my opinion isn't valid?
- MichaelGG 12y agoYeah it's an odd choice considering they cannot be at a scale where they'd need the supposed benefit of sharding. Any real ACID database would work fine. Not that this means they have problems, just that they need more code to deal with things they could trivially have their DB enforce otherwise.
- ossreality 12y agoReminds me of YC funding that one stupid home-grown exchange that was planning on using Node for everything. ButterCoin, maybe? Idiots. Can't believe they got money.
- adrianmacneil 12y agoIt's a valid point. So, so put your mind at ease: the exchange (as well as all backend services we've built recently) is built with Postgres.
- finnn 12y ago/trade was initially a blank page, but after allowing both gravatar.com and olark.com to run 3rd party javascript, it loaded up. It seems that blocking them again after loading the page once doesn't affect it.
- mod 12y agoWhy would they insure the online bitcoins, or at least--why do that without insuring the offline bitcoins? The offline bitcoins are more secure, by almost any measure, and so should be easier and cheaper to insure. Further, they're the overwhelming majority of the bitcoins, and a 98% loss would sure hurt worse than a 2% loss.
- drcode 12y agoProbably insurers don't have enough cryptography expertise have a hard time quantifying the difference between the two types, pricing all insured Bitcoin types in a similar way.
- hristov 12y agoInsurance prices are usually based on the maximum possible loss as well as the probability of loss. Insuring only the online bitcoins means your maximum loss is 50 times less than if you had insured all. Insurance will be much cheaper. You argue that the probability of loss of the offline bitcoins should be much smaller, but I don't think insurance companies will go along with this argument. Insurance companies are skeptical and conservative by nature. And they have absolutely no trust in human beings. And from the point of view of human intervention offline bitcoins are about as vulnerable as online ones.
- LukeHoersten 12y agoThe site looks good but seems to have a ton of stability issues. The order book keeps blanking out and when I tried to deposit some money, it froze. I think I'll just stick with Circle for now.
- bunkydoo 12y agoNot yet in my state :( Looks great though, can't wait until the regulatory issues and what-not get resolved. This could be really really cool.
- h2014 12y agoMake it available in the UK
- quackerhacker 12y agoWow, just looked over the API, this api method GET /currencies, gives me hope that in the later future Coinbase will provide exchange rates for foreign currencies. That would be amazingly awesome!
- heliodor 12y agoYou can get the price charts from: https://pizzacharts.com/c/BTC/USD/Coinbase%20Lunar/ https://pizzacharts.com/c/BTC/USD/Coinbase%20Lunar/ Interestingly, there were 4300 pre-launch trades, probably from testing. PS: I'm one of the Pizzacharts cofounders.
- kaa2102 12y agoI see many comments about what's wrong with Coinbase. What would a secure bitcoin exchange look like? A few of the features have been thrown out, e.g., little or no hot storage, two-factor authentication, (some) insured deposits, multisig-protection, decentralized services, etc.
- serf 12y agoVerifying my identify by asking me cross streets near residences that I haven't lived since I was 2 or 3 years old is a REALLY poor way to establish what my identity may be, especially since I have previously verified my bank account. I promptly failed it, and was told to wait 24 hours. What kind of child has the spatial awareness to memorize cross streets near their first homes at that age? I could have perhaps inquired with the folks who owned those houses when I was a child (my parents), had the queries not been partnered with a 4 minute timer.. This identity verification is nearly as bad as coin.mx's random address lookup verification, but at least that one fails me all together without making me guess at cross streets like an ass.
- bobbles 12y agoGoogle maps? Or do the streets no longer exist as they did earlier?
- contingencies 12y agoConsultant to a competing exchange in an unofficial capacity here. My impression is that Coinbase is basically operating in their previous (non-exchange) business in a manner that is not at all to the letter of current US law; the 'beg for forgiveness' model. A lack of regulatory enforcement of their position, combined with expansion in to other business areas basically points toward the corruption of the US regulatory system. At this point I'd bet that some calls using pre-established relationships between their investors / board members and regulators are going on. This is the reason why other companies do not like doing business in the US: government meddling / selective enforcement, arbitrary decisions, painfully expensive/slow moving licensing and approvals processes, ultimately resulting in an unfair market. On both sides of the Atlantic, it is only a little overstated to say that we preach individualism and competitive capitalism, and practice socialism. - Milton Friedman, 1994, from the introduction to The Road to Serfdom by F.A. Hayek.