The money is sent to Coinbase and then sold immediately or shortly afterward. Because Coinbase doesn't allow both of these API calls to be executed simultaneously, the money might be in the Coinbase account for a brief time.derbagni wrote:Steve...
I have just started using prohashing, and I am definitely pleased with the service. To the extent the the Coinbase API starts functioning again, can you clarify how the USD payouts work? I have restrictions with my work on selling digital assets (I have a 6 month hold period) that doesn't apply if I am paid in USD. With those Coinbase payments does the mining account ever have control of the Bitcoin or other digital assets prior to prohashing selling them on Coinbase? If everything is handled by Prohashing through Coinbase, and I simply received USD in my checking account, then It would certainly make things much easier for me!
I am astonished at how poor their customer service is, especially considering their size. Is there any posibility you could do something similar with Kraken?
Thanks for your product!
Until this issue is resolved, however, I removed all money from our Coinbase accounts, so you won't receive any money nor will it be sold.
Our current plan is that I contacted 10 cryptocurrency news sites about the problem. If they don't respond, I'm going to contact mainstream media outlets tomorrow. If that doesn't work, then I'm going to file complaints with government consumer protection agencies on Thursday, and I'm going to start E-Mailing the companies that have publicly invested in them to bring this to their attention. This issue is going to be resolved soon, or else there's going to be a huge amount of negative publicity for Coinbase. Again, I apologize for the problem and we're trying as hard as possible to get it resolved.
Unfortunately, Kraken doesn't have an OAuth2 interface. Coinbase's API allows them to restrict the operations businesses can perform. The only way to trade with Kraken would be to request users' private API keys, which would expose us to significant liability because it's not possible to restrict access on them. If Coinbase's API keys are hacked, then the worst that could be done is to sell bitcoins, which doesn't cause a direct loss of money. If Kraken's keys were ever hacked, then the hacker could use them to do anything he wanted with the customer's account, so we aren't willing to take on that risk.