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Ukshep

Bitcoin wallet COINBASE now seizing accounts of Americans... users rage against "total ripoff" as their Coinbase accounts VANISH

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Well People were warned!

The popular online Bitcoin wallet Coinbase has been routinely seizing accounts of users in Hawaii and Wyoming, effectively “stealing” their Bitcoins by locking them out of their accounts. A Natural News investigation confirms that Coinbase is citing obscure state laws in its decision to seize accounts of users in both states, yet the online wallet refuses to allow users to log in and change their state of residence if they move to another state.

In effect, Coinbase is “stealing” Bitcoins from users by locking them out of their own accounts, preventing them from accessing their Bitcoin balances even if they move to another state. Users are raging against the “ripoff” and the “theft” in user comments (see some examples at the linkie!).

http://www.naturalnews.com/2017-06-13-bitcoin-wallet-coinbase-now-seizing-accounts-of-americans-total-ripoff-accounts-vanish.html

So if you have a coin base account. Best you move....

 

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I would never use Coinbase and have warned people not to keep their funds with them?  I mean, WTF is wrong with people that they want a 3rd party to hold their money for them?  That's what banks do and that's the problem.  Anyone storing their Bitcoins with a 3rd party obviously don't understand the concept of crpytocurrencies and will learn the hard way what it's about.  You have to be your own central bank, not rely on someone else.  That is why it's a trust-less system, FOR A REASON.  Remove trust from the equation and no funny business can take place; and that, right there, is what it is all about.

It's not the first time a Bitcoin has 'had problems' either, and people still keep their money with exchanges.  Meh, that'll learnz them.


 

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2 minutes ago, Sky Cat said:

It's not the first time a Bitcoin has 'had problems' either, and people still keep their money with exchanges.  Meh, that'll learnz them.

 

I think it had to do with lack of knowledge. When someone says you should buy bitcoin... most google buy bitcoin and get an exchange... they know no better!

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1 minute ago, Ukshep said:

I think it had to do with lack of knowledge. When someone says you should buy bitcoin... most google buy bitcoin and get an exchange... they know no better!

Yes, exchanges are the most convenient way to buy Bitcoin; nothing wrong with that, especially if it's a trustworthy exchange, but buy the stuff then immediately put it in your wallet; don't LEAVE IT on the exchange.  That's exactly what A LOT of people do, they leave it in their account at the exchange, and that's just asking for trouble.  Even if an exchange is trustworthy they can get hacked, and that (supposedly) has happened to a few exchanges before.

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