[UPDATE: Visa is at fault] Coinbase Charging Accounts Multiple Times

[Energycore]

This has been ongoing for a bit and there used to be a pinned reddit post about the matter IIRC in /r/coinbase, though right now I checked and it wasn't there anymore.

 

Messy stuff indeed though. I don't dabble in exchanges that aren't subject to audit and publicly say so.

[FireClawGames]

Please delete this post (not original post)

Edited February 17, 2018 by FireClawGames
Moved this update to the original post.

[LordofGangsters]

isnt linus sponsored by some site allowing you to make burner credit cards?

[FireClawGames]

48 minutes ago, LordofGangsters said:

isnt linus sponsored by some site allowing you to make burner credit cards?

I don't see it anywhere in their sponsor list, why do you mention it?

[LordofGangsters]

16 minutes ago, FireClawGames said:

I don't see it anywhere in their sponsor list, why do you mention it?

privacy.com , I mention it because you could create a debit card to the value of the bitcoins, and all further attempts to charge the card would be completely rejected. 

[FireClawGames]

1 hour ago, LordofGangsters said:

privacy.com , I mention it because you could create a debit card to the value of the bitcoins, and all further attempts to charge the card would be completely rejected. 

That's probably a really good idea honestly. I might use it in the future with purchases on websites I don't quite trust.

[FakezZ]

On 16/2/2018 at 5:05 AM, Mooshi said:

I actually hope more things like this happens to force government involvement to make the mass population realize how stupid fake coins are and bans them outright making value drop to zero where it belongs.

Fake coins? Why? Please inform me what is the USD backed by if not thin air? Inform me if there is a central bank being able to print as much USD as they damn well please. Inform me if the same is also true for the EUR. Thanks I'd love to know all that! 

[LordofGangsters]

1 minute ago, FakezZ said:

Please inform me what is the USD backed by if not thin air?

Every person and every country in the world

[FakezZ]

On 16/2/2018 at 7:29 AM, mr moose said:

The financial world does not really work that way,  One institution being sloppy will at worst only slow adoption but it will not make crypto look bad, just themselves.  I say this because conventional digital currency encounters the same issues here and there.  Banks that deposit the money into wrong accounts, payout twice on withdraw etc.  Some even foreclose loans accidentally.  Consumers and advisors typically blame the institution not the technology.

 

EDIT: what will give Crypto a bad name is all the thefts and rise in ransomware directly related to it.  That shit provides an uncertainty that it is not secure.

Well actually even the thefts 99% of the time is not because of crypto. Currencies like Bitcoin are pretty much as safe as you'll get as long as you keep your private keys safe. Thefts usually happen on exchanges or scams which also happen with the fiat currency counterparts.

[FakezZ]

1 minute ago, LordofGangsters said:

Every person and every country in the world

I mean backed by in currency terms not people using it. Oh yeah of course China would also be backing USD and North Korea too in your words. But again you misunderstood what I was talking about...

[LordofGangsters]

2 hours ago, FakezZ said:

-

[Energycore]

There's an update to this, apparently Visa's taking the blame for these double charges: https://cointelegraph.com/news/visa-worldpay-take-blame-for-duplicate-charges-on-coinbase-reverse-transactions

[TheOriginalHero]

5 hours ago, FakezZ said:

Fake coins? Why? Please inform me what is the USD backed by if not thin air? Inform me if there is a central bank being able to print as much USD as they damn well please. Inform me if the same is also true for the EUR. Thanks I'd love to know all that! 

Admittedly currency is no longer back by the amount of gold the country holds however they are backed by foreign currencies, strong economies, consumer confidence and trust and ofc gold.

[mr moose]

8 hours ago, FakezZ said:

Well actually even the thefts 99% of the time is not because of crypto. Currencies like Bitcoin are pretty much as safe as you'll get as long as you keep your private keys safe. Thefts usually happen on exchanges or scams which also happen with the fiat currency counterparts.

Which is why it could give crypto  a bad name,  As far as I am aware there are very few scams/thefts occurring at exchange level for conventional digital currency.  Which will lead any and all who are invested in the financial markets to ask why.

[FireClawGames]

6 hours ago, Energycore said:

There's an update to this, apparently Visa's taking the blame for these double charges: https://cointelegraph.com/news/visa-worldpay-take-blame-for-duplicate-charges-on-coinbase-reverse-transactions

I added something similar earlier today to an edit to the original post. Check out the joint statement that Coinbase and Visa released on Coinbase's blog.

[Energycore]

Just now, FireClawGames said:

I added something similar earlier today to an edit to the original post. Check out the joint statement that Coinbase and Visa released on Coinbase's blog.

I would change the news title to reflect the update, something like UPDATE: Visa was at fault or similar, before the main header.

[mikat]

723823412 reasons why you shouldnt trust companies with your payment details (credit cards ew) and why you should have a system where you approve of each transaction (iDeal for online payments, SEPA for sending money to coinbase)

 

[FireClawGames]

Just now, Energycore said:

I would change the news title to reflect the update, something like UPDATE: Visa was at fault or similar, before the main header.

I'll do that right now.

[Guest]

It’s probably not VIsas fault but more so coinbases system

[FireClawGames]

1 hour ago, RorzNZ said:

It’s probably not VIsas fault but more so coinbases system

It's Visa's fault read the edit that I made 6 hours ago

[Guest]

5 minutes ago, FireClawGames said:

It's Visa's fault read the edit that I made 6 hours ago

I did read it. Its pretty convenient and in their best intrests not to attribute the cause to themselves on their own blog. Its most likely their payment system not being up to scratch.

[FireClawGames]

53 minutes ago, RorzNZ said:

I did read it. Its pretty convenient and in their best intrests not to attribute the cause to themselves on their own blog. Its most likely their payment system not being up to scratch.

Nope that's a joint statement with Visa. Read Energycore's post.

16 hours ago, Energycore said:

There's an update to this, apparently Visa's taking the blame for these double charges: https://cointelegraph.com/news/visa-worldpay-take-blame-for-duplicate-charges-on-coinbase-reverse-transactions

[Guest]

8 minutes ago, FireClawGames said:

Nope that's a joint statement with Visa. Read Energycore's post.

Its still more of a miscommunication with Visa rather than an issue with Visa itself. It most likely could have easily been avoided by test transactions and communication between Visa and Coinbase.

[FakezZ]

On 17/2/2018 at 10:28 PM, mr moose said:

Which is why it could give crypto  a bad name,  As far as I am aware there are very few scams/thefts occurring at exchange level for conventional digital currency.  Which will lead any and all who are invested in the financial markets to ask why.

Actually there are a whole bunch of scams running with fiat digital currency. Many many many more than crypto, just because it is a much bigger market. 

[FakezZ]

On 17/2/2018 at 7:05 PM, TheOriginalHero said:

Admittedly currency is no longer back by the amount of gold the country holds however they are backed by foreign currencies, strong economies, consumer confidence and trust and ofc gold.

Oh yeah they are backed by central banks who can print as much as they please. Thankfully we can trust them and the wars by governments to keep the value of our currency stable huh?