Category Archives: Experiences

Bank questioning customers about Bitcoin purchase and selling

A user of wrote in today with this question, and I personally have dealt with the same issue with my small hometown bank:

Bank questioning my Bitcoin purchases?

Hi, my USA hometown bank called me today and was questioning me about my Coinbase/BTC purchases. It was their security and fraud department. They were asking all kinds of questions about why do I buy them, what are they used for, and also mentioned how BTC are very involved with terrorism and money laundering.

My question to you guys is, what is the typical reply you think Coinbase customers should use? I really felt pretty violated that my bank, or any bank for that matter would be asking these things from me.

So does anyone know when and what guidelines are being put into place to help out banks and customers fix problems like this?

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Vircurex hacked! Members need to take action ASAP

Urgent! Vircurex was hacked! Change your password ASAP!

Dear users of the exchange

Due to hack of Vircurex you should change the password on your account if you had an account at Vircurex exchange.
It is strongly recommended to make a change of your current e-mail to the e-mail at with two-factor authentication turned on.

You can change your current password at Edit Profile –

Sincerely support

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Great news at Coinbase!

Coinbase now has BTC for sale again

Coinbase now has BTC for sale again

I heard Coinbase received $5,000,000 in venture capital funds recently so I thought I’d try buying again from Coinbase. Just as a test, and the transaction went through as a SUCCESS! So this is great news guys, you can now buy Bitcoins at Coinbase again!!! 🙂

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Coingig blacklisted for massive spamming

Talk Bitcoins blacklisting

Talk Bitcoins blacklisting is sending out massive emails and blog spam comments using the blackhat SEO tool Xrumer. Very spammy and “cheating” way to attempt to grow their website. My f*ck you salute to Coin Gig.

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Coinabul has many scammer accusations

Coinabul deemed as a scammer site from many users

Coinabul labeled as a scammer site from many users

Warning: Coinabul trying to defraud customers!

SCAMMER Coinabul owes me 3.3 BTC!

SCAM – Coinabul owe me 81btc

SCAM – Coinabul owe me 90btc

Don’t buy anything from coinabul. Yet another complaint.

I have emailed them asking their side of the story for these incidents, this is their reply:

We process an ungodly sum of bitcoins, and a massive number of transactions. Literally millions of dollars worth of products have been sent by us in the last few months alone, in thousands of unique transactions. Out of all of those, we have never failed to deliver products or done our best to provide recompense if providing a product is not an option. However, the Bitcoin market is still highly experimental and populated by many less-than-stable individuals who like to make a lot of noise, complain for no reason, demand we break the law, attempt continual fraud against us, et cetera. This week our current statistic is 3.125 parcels shipped per work-hour, with an average value of approximately $5,000 per parcel. With us shipping approximately $250k in orders within the last 48 hours alone, as well as myself working an average of 20 hours per day for the last few years, I have to say that you’re quite incorrect.

Our numbers stack up higher than just about any other Bitcoin-related endeavor in existence, and to not expect a few irrational/unhappy loud voices after such a massive track record is rather unrealistic. You will find that outside of Bitcoin-land, you see the same type of behavior although it’s far less prevalent than within. A great example is these kinds of reports about APMEX, who is currently the largest online retailer in the USA. Before I started dealing with large purchases for my own personal reserves years ago, I’d use them for little bits of silver and gold consistently. They deal with billions in volume, I’ve had nothing but good experiences with them, and yet you find lots of angry people.

Moral of the story is, you can’t please everyone and while the really happy customers are quiet, the angry ones always make a big stink. I think both of us would be better served if all of the investigation could be more focused on the people selling drugs and illegal weapons, or nonexistent ASICs, or nonexistent paper-backed gold ETF’s, than the folks like me who are absolute sticklers about morality and helping the growth of both the Bitcoin and bullion markets.


I must say, this is very understandable. Every huge company is going to have some negative feedback mixed in with the majority of positive feedback. I just hope those people claiming that Coinabul is a scam are not quick trigger complaints.

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MtGox DDoS’d again and attacks on many others

Well it’s that time again. It looks like MtGox and many other Bitcoin trading sites are under attack. Hacking attempts, DDoS attacks (distributed denial of service attacks) and other forms of attempts to slow the growth of Bitcoins.

MtGox, Bitfloor, Btc-E, Bitstamp, Bitcoinity, BitcoinCharts, Coinbase are some that I’ve personally noticed that are being attacked, anyone know of others please let us know by posting comments.

Bitstamp is down

Bitstamp is down

Bitcoinity and Bitfloor also attacked?

Bitcoinity and Bitfloor also attacked?

BitcoinCharts 502 Gateway error

BitcoinCharts 502 Gateway error is offline is offline

Bitcoinity down for maintnence muppet announcement

Bitcoinity down for maintnence muppet announcement

Coinbase right this minutes says you can sell at $101 or buy at $184.

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Current Coinbase buy problems

Impossible to buy Bitcoins at Coinbase

Impossible to buy Bitcoins at Coinbase

For the past 3 weeks, still no customers are able to buy BTC from Coinbase 🙁

Note! We’ve exceeded our normal buy limits for today. If you would still like to purchase you will receive the market price of bitcoin on Friday Apr 12, 2013 at 12:18PM PDT after your funds have arrived. read more


Sorry, the maximum number of purchases on Coinbase has been reached. This is a 24 hour rolling limit with no specific start time. Please try again later. We’ll continue raising this limit over time.

Those are the two errors you can see in your Coinbase admin when trying to buy.

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How early (or late) did you get in on Bitcoins?

Bitcoins were first mentioned to me in early December 2012 when the price was around $13.49 US dollars per 1 BTC. I thought it was a pretty nice concept, having an online digital currency and all. I was totally interested to investing into Bitcoins back then.

First thing I did was created an account. I uploaded what I thought was the proper documentations and put in an order for $8100 worth of Bitcoins.

My MtGox attempt at Buying BTC in December 2012

My MtGox attempt at Buying BTC in December 2012

My account verification was denied, and so was my purchase, which now looking back on it was a HUGE disappointment. Buying $8100 worth of BTC at $13.49 each is about 600 BTC, which at this current moment, at $65 rate would make that $8k USD worth $43,333 USD. Wow what a disappointment! And now 7 account verificaion denials later from MtGox I finally decided to give up on that Bitcoin trading website.

On February 25th I did open a account. I was able to purchase the first of my BTC there. Their accounts are approved much easier than MtGox. They have a bank verification system the same like Paypal, they put small deposits into your bank account and you must verify by naming those amounts, usually about 5-20 cents.

Coinbase is nice, but you have very small limitations. For your first month you are limited to “10 BTC daily buy limit, and 100 BTC daily sell limit.” Supposedly this will be upgraded to 100 BTC daily buy limit and 300 BTC sell limit after you’ve had an account for 30+ days. Coinbase charges a 1% fee on all buys and sells.

I would like to know your stories, on how you first got into Bitcoins. Was it difficult? Which site did you go through? Everything went smooth and you came out a happy camper or do you have a Bitcoin horror story like I do?

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Problems with Coinbase purchases

I’ve been trying to purchase Bitcoins via Coinbase for many days now. My buy limit was 10, but I am unable to even buy 1 coin. Today, March 21st, my limit raised to 100 per day, but I still am unable to buy even just 1 Bitcoin. This is the denial message I get:

Sorry, the maximum number of purchases on Coinbase has been reached at the moment. This is a 24 hour rolling limit with no specific start time. Please try again later. We’ll continue raising this limit over time.

Very frustrating.

Coinbase please work as quickly as you can to get these problems fixed. A lot of us users are wanting to buy tons more BTC, it’s great for us, and you, if you can fix this and raise the Coinbase limits.


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