Quote from: colinistheman on December 19, 2013, 09:36:28 AM

Quote from: accord01 on December 19, 2013, 02:19:15 AM

Coinbase has an algorithm designed to scam customers out of money:

see this: https://bitcointalk.org/index.php?topic=341188.msg3655164#msg3655164

https://bitcointalk.org/index.php?topic=375171.new#new

But what about instant transfers? My bank account has not been charged when declined to buy BTC instantly on an instant transfer. They just refuse to sell me the BTC. I haven't been scammed out of money, just not allowed to buy.

I understand that users have bought large quantities of bitcoins (i'm guessing not using instant-buy), their bank account being charged, and then coinbase saying sorry we can't deliver, but that's not my case here.

Based on that information you posted above, I will make sure I ONLY buy with instant buy, knowing that I either get my BTC instantly or the order is cancelled at the start. No money in limbo this way.

I have defended coinbase in the past thinking it was just a fluke or user error like NSF (I had one of those)..
I have instant buy, I have done 10's of thousands in transfers with them. Today I try instant buy for 1.8 measly BTC and get the cancelled because it looks risky. WTF! As stated by others I bought 10 BTC at 900/usd, It was higher than that, they didnt hesitate to take 9800.00 from my bank account and give me the coins.

Dont be to sure they dont pull from your account because it was cancelled. My notice had this in it. Even though it went against my instant buy amount and was cancelled. Instant buy shows I can buy 8.2 now instead of 10 even though they cancelled it.

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Unfortunately, we have decided to cancel this order because it appears to be high risk. We do not send out any bitcoins on high risk transactions, and you will receive a refund to your bank account in 3-4 business days.
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If they continue to be Jack asses like this, I will be out of business. Growing pains I guess.

I will keep this thread updated however it washes.

Best of Luck.