6 ms·

You probably accidentally did an ACH transfer instead of a wire transfer. Coinbase does not support ACH.

by kindfellow92 9y ago

lgas 9y ago
If they don't support ACH, how could you do an ACH transfer by mistake?
- kindfellow92 9y ago
  Transfers aren’t synchronous operations.
  - lgas 9y ago
    I assume I'm missing something obvious, but presumably there would have to be a big button labeled "Start ACH transfer" on the coinbase website, and if they don't support ACH transfers, they just wouldn't put that button there?
    - deleted 9y ago
      [deleted]
cobookman 9y ago
Nope. I did a wire. I have called my bank and coinbase's bank and neither have seen the wire. There's plenty of people online complaining that wires in and out of Coinbase from December 12-18th have yet to process. There's even a class action lawsuit being formed about it. My worst fear is that Coinbase is insolvent.
- ghughes 9y ago
  > My worst fear is that Coinbase is insolvent. Surely they would have to be thoroughly pwned for that to be true? They claim that 98% of customer funds are in cold storage, and they ought to be raking it in on transaction fees and with BTC being up 1372% this year. They also raised a $100M Series D round in August. It's not impossible, but highly unlikely.
  - TylerE 9y ago
    Same was true of MtGox, right up until it wasn't, no?
    - ithinkinstereo 9y ago
      MtGox was run by a team of clowns, the comparison to CoinBase, issues aside, is ridiculous.
      - candiodari 9y ago
        And Bitcoin Market ? TradeHill ? Youbit ? Bitcoin-central ? Bitcoinica ? Bitstake ? Intersango ? FXBTC ? Bitmarket.eu ? Bitfloor ? Bitomat ? Britcoin ? Vault of Satoshi ? Kapiton ? WeExchange ? UpBit ? CoinEX ? Cryptorush ? McxNow ? MintPal ? SwissCEX ? Prelude ? LibertyBit ? Comkort ? CoinSwap ? BitYes ? Yacuna ? Virtex (I remember this one, was very big and "trustworthy") ? Excoin ? BitSpark ? Coin.Mx ? Harborly ?
- kindfellow92 9y ago
  I did a wire on 12/13 and 12/16 without issue. This is likely user error.

You probably accidentally did an ACH transfer instead of a wire transfer. Coinbase does not support ACH.

lgas 9y ago

If they don't support ACH, how could you do an ACH transfer by mistake?

kindfellow92 9y ago
Transfers aren’t synchronous operations.
- lgas 9y ago
  I assume I'm missing something obvious, but presumably there would have to be a big button labeled "Start ACH transfer" on the coinbase website, and if they don't support ACH transfers, they just wouldn't put that button there?
  - deleted 9y ago
    [deleted]

cobookman 9y ago

Nope. I did a wire. I have called my bank and coinbase's bank and neither have seen the wire. There's plenty of people online complaining that wires in and out of Coinbase from December 12-18th have yet to process. There's even a class action lawsuit being formed about it. My worst fear is that Coinbase is insolvent.

ghughes 9y ago
> My worst fear is that Coinbase is insolvent. Surely they would have to be thoroughly pwned for that to be true? They claim that 98% of customer funds are in cold storage, and they ought to be raking it in on transaction fees and with BTC being up 1372% this year. They also raised a $100M Series D round in August. It's not impossible, but highly unlikely.
- TylerE 9y ago
  Same was true of MtGox, right up until it wasn't, no?
  - ithinkinstereo 9y ago
    MtGox was run by a team of clowns, the comparison to CoinBase, issues aside, is ridiculous.
    - candiodari 9y ago
      And Bitcoin Market ? TradeHill ? Youbit ? Bitcoin-central ? Bitcoinica ? Bitstake ? Intersango ? FXBTC ? Bitmarket.eu ? Bitfloor ? Bitomat ? Britcoin ? Vault of Satoshi ? Kapiton ? WeExchange ? UpBit ? CoinEX ? Cryptorush ? McxNow ? MintPal ? SwissCEX ? Prelude ? LibertyBit ? Comkort ? CoinSwap ? BitYes ? Yacuna ? Virtex (I remember this one, was very big and "trustworthy") ? Excoin ? BitSpark ? Coin.Mx ? Harborly ?
kindfellow92 9y ago
I did a wire on 12/13 and 12/16 without issue. This is likely user error.