Coinbase Pro address sent to Coinbase

[Roger T. Bannon]

People do have a hard time following along.

[KVB]

Never send from Book to Base.

BTC and gambling 101.

[Mr. Teaser]

Never send from Book to Base.

BTC and gambling 101.

Can you explain to a BTC noob what we should be doing then? Thanks.

[Roger T. Bannon]

Can you explain to a BTC noob what we should be doing then? Thanks.

1) Set up where you can buy bitcoin
2) transfer to intermediate wallet such as blockchain or one of many others that do not provide for buys/sells
3) transfer to book from the intermediate or the reverse order

The intermediate wallet serves as a way of hiding your transfer but if Coinbase wants to know if you have done that they can figure it out and have done it. Nothing can be hidden.

The second step is optional but advisable if you will be doing a lot of transfers.

[Shifty]

why is anyone using coinbase to begin with? Gemini is half the fees and 20x better with customer support

I find it comical that a sports bettor would bash Coinbase and praise Gemini who say they will seize your account if they catch you... Copied and pasted from Gemini user agreement...

(“Illegal Gambling”).
As such, we have a Gambling Policy that prohibits the use of Gemini for storing, sending, or receiving wagers or proceeds of Illegal Gambling. Proceeds derived from trading contracts for differences and spread bets on licensed and regulated platforms do not constitute Illegal Gambling or a violation of our Gambling Policy. We employ a number of methods to detect violations of our Gambling Policy.
You agree and understand that we have the right to immediately (i) suspend your account and any related account, (ii) freeze/lock the funds and assets in all such accounts, and (iii) suspend your access to Gemini, if we suspect, in our sole discretion, any such accounts to be in violation of our Gambling Policy, which is a direct violation of this User Agreement.
You agree and understand that if your account or any related account is determined, in our sole discretion, to be in violation or to have been in violation of any provision of our Gambling Policy, which is a direct violation of this User Agreement, we have the right to terminate any such accounts and take any and all necessary and appropriate actions pursuant to this User Agreement and/or Applicable Laws and Regulations.

[raiders72001]

I've had books ask me for wallet in the past. I just say which wallet such as Bitpay or Blockchain. Best to use debit cards when possible.

[Roscoe_Word]

I didn't know a regulated exchange like Coinbase Pro or Gemini could seize one's funds if they suspect sports betting.

The devil is indeed in the details.

I figured the worst they could do is cancel one's account but return funds.

Glad I read this thread.....thnx fellas.

[raiders72001]

I didn't know a regulated exchange like Coinbase Pro or Gemini could seize one's funds if they suspect sports betting.

The devil is indeed in the details.

I figured the worst they could do is cancel one's account but return funds.

Glad I read this thread.....thnx fellas.

It is very rare to seize funds. They ban you then tell you to withdraw your funds. Coinbase needs a court order to seize or freeze funds.

[jjgold]

Raiders knows everything

[Optional]

Good advice. But when was the last time anyone got banned sending bitcoin? I can't recall seeing that since the early days when these places were trying to get their bank status. Not sure that is even an issue any longer and depends on how often you transfer. I don't make that many deposits so not too worried about it. It is such a pain in the ass I am not sure I would mind getting banned.

It still happens regularly.

Poster FunnyB25 is in he middle of the process of being shut down by Gemini as we speak. Deciding if he should even bother answering their please explain your usage messages.

[shocka1212]

why is anyone using coinbase to begin with? Gemini is half the fees and 20x better with customer support

Gemini a pain in the ass with verification opening an account.

[Optional]

I didn't know a regulated exchange like Coinbase Pro or Gemini could seize one's funds if they suspect sports betting.

The devil is indeed in the details.

I figured the worst they could do is cancel one's account but return funds.

Glad I read this thread.....thnx fellas.

I do not believe they can.

And don't even think the terms quoted above say they can.

They can simply refuse service and ask you to remove any funds there.


Private companies cannot legally apply punitive fines. They could only confiscate funds if their license orders them to hand the money to some official body like a Regulator or DOJ or LE.

[Roger T. Bannon]

It still happens regularly.

Poster FunnyB25 is in he middle of the process of being shut down by Gemini as we speak. Deciding if he should even bother answering their please explain your usage messages.

Oh really. Did he send straight through?

[Roscoe_Word]

I do not believe they can.

And don't even think the terms quoted above say they can.

They can simply refuse service and ask you to remove any funds there.


Private companies cannot legally apply punitive fines. They could only confiscate funds if their license orders them to hand the money to some official body like a Regulator or DOJ or LE.

Thanks for the clarification, Opti.........