WARNING our loved ones, especially baby boomers are wading into the most dangerous financial waters they will ever encounter. : Bitcoin


Like most of you here, I am working constantly to encourage my friends and love ones to allocate a portion of their non-essential funds to bitcoin/out of inflationary currencies such as the dollar. It’s going well for the most part but I will offer you a cautionary tale.

A retired friend lost 7 bitcoin to a scammer because his google search results returned a fraudulent number when he went searching for the Coinbase customer support number. I believe he searched for “Coinbase 800 number.” Being over 65 he just didn’t have the internet street smarts to recognize that the search results in this case were bogus (Are your loved ones any different?) The exceedingly patient gentlemen on the other end of the phone gently walked him through the process of inadvertently giving away all of his bitcoins which were in Coinbase. He even instructed him on getting his withdrawal limit raised in order to facilitate this.

I now discuss the Coinbase Vault anytime I mention Coinbase to a neophyte. I mention it twice to anyone who might not recognize red flags such as a “customer service agent” offering to remote login to your computer…

The Coinbase number begins with 888 not 1-800…

If anyone gets an answer on the fake number try and get audio of the guy and we can post it here for posterity.



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