You really shouldn't be surprised, at this point, by Coinbase going down during times of high activity. It happened on November 29th (when, in fairness, everyone was going down), and happened four times last June, which should have been their canary-in-a-coal mine.
Coinbase down for maintenance
21–30 of 252 posts
Re: Coinbase down for maintenance
#22I never want to reuse my comments from other thread but this time I just can't resist. No one really anticipated what we all are currently experiencing and Coinbase is not different. It seems Coinbase struggling to cope up: $0000 - $1000: 1789 days $1000- $2000: 1271 days $2000- $3000: 23 days $3000- $4000: 62 days $4000- $5000: 61 days $5000- $6000: 8 days $6000- $7000: 13 days $7000- $8000: 14 days $8000- $9000: 9…
How much money needed to come into the bitcoin market for it bump from 15k to 19k? Where is this money coming from??
Not much. 1% of asset allocation for an institutional investor is enough for that.
EDIT: You currently need $70m to bump the market above 20k on GDAX. That's a lot for retail investors but not much if institutional investors get involved.
Re: Coinbase down for maintenance
#23I never want to reuse my comments from other thread but this time I just can't resist. No one really anticipated what we all are currently experiencing and Coinbase is not different. It seems Coinbase struggling to cope up: $0000 - $1000: 1789 days $1000- $2000: 1271 days $2000- $3000: 23 days $3000- $4000: 62 days $4000- $5000: 61 days $5000- $6000: 8 days $6000- $7000: 13 days $7000- $8000: 14 days $8000- $9000: 9…
Can you describe what this data is you're sharing? As is it's not clear what phenomenon you're describing.
https://en.wikipedia.org/wiki/History_of_bitcoin
The insane rise in the valuation of Bitcoin. How many times we have seen a currency or an asset that represents this kind of momentum? Clearly no one has seen this coming (that soon).
Re: Coinbase down for maintenance
#24I never want to reuse my comments from other thread but this time I just can't resist. No one really anticipated what we all are currently experiencing and Coinbase is not different. It seems Coinbase struggling to cope up: $0000 - $1000: 1789 days $1000- $2000: 1271 days $2000- $3000: 23 days $3000- $4000: 62 days $4000- $5000: 61 days $5000- $6000: 8 days $6000- $7000: 13 days $7000- $8000: 14 days $8000- $9000: 9…
[deleted]
Re: Coinbase down for maintenance
#25I never want to reuse my comments from other thread but this time I just can't resist. No one really anticipated what we all are currently experiencing and Coinbase is not different. It seems Coinbase struggling to cope up: $0000 - $1000: 1789 days $1000- $2000: 1271 days $2000- $3000: 23 days $3000- $4000: 62 days $4000- $5000: 61 days $5000- $6000: 8 days $6000- $7000: 13 days $7000- $8000: 14 days $8000- $9000: 9…
How much money needed to come into the bitcoin market for it bump from 15k to 19k? Where is this money coming from??
"How much money needed to come into the bitcoin market for it bump from 15k to 19k?"
Almost none.
If there are just a few transactions at a price, well, we assume that is the worth of all bitcoins in existence.
Which is a crazy assumption, but hey.
Re: Coinbase down for maintenance
#26I never want to reuse my comments from other thread but this time I just can't resist. No one really anticipated what we all are currently experiencing and Coinbase is not different. It seems Coinbase struggling to cope up: $0000 - $1000: 1789 days $1000- $2000: 1271 days $2000- $3000: 23 days $3000- $4000: 62 days $4000- $5000: 61 days $5000- $6000: 8 days $6000- $7000: 13 days $7000- $8000: 14 days $8000- $9000: 9…
How much money needed to come into the bitcoin market for it bump from 15k to 19k? Where is this money coming from??
Had to be a lot. Should have screen recorded it, but instead recorded with my phone. The order book entries and chart were going nuts. Entire sections of the book disappearing at once. The chart would go almost entirely flat several times.
Almost always you see minor movement on the order book except maybe sometimes at the actual mid point it may update a bit. The chart is almost always balanced until the past few weeks it's be HEAVILY weighed towards the sell side.
71K+ BTC had been already traded by the time it hit high 19k.
Re: Coinbase down for maintenance
#27Now what would happen if Coinbase went down at a time when Bitcoin was going through a short period of decreasing value?
Re: Coinbase down for maintenance
#28I never want to reuse my comments from other thread but this time I just can't resist. No one really anticipated what we all are currently experiencing and Coinbase is not different. It seems Coinbase struggling to cope up: $0000 - $1000: 1789 days $1000- $2000: 1271 days $2000- $3000: 23 days $3000- $4000: 62 days $4000- $5000: 61 days $5000- $6000: 8 days $6000- $7000: 13 days $7000- $8000: 14 days $8000- $9000: 9…
How much money needed to come into the bitcoin market for it bump from 15k to 19k? Where is this money coming from??
You don't need money "coming into" to increase value of Bitcoin.
All you need is back and worth trades in th market. It can even be market manipulation where some buy and sell between themselves.
Bitcoin has massive market liquidity problem. Once people want to sell, the price drops like a stone. This is why it would be convent to have "technical problems" or do DDoS attack to prevent sells and allow markets to calm.
Re: Coinbase down for maintenance
#29Earlier quoted context omitted.
How much money needed to come into the bitcoin market for it bump from 15k to 19k? Where is this money coming from??
Not much. 1% of asset allocation for an institutional investor is enough for that. EDIT: You currently need $70m to bump the market above 20k on GDAX. That's a lot for retail investors but not much if institutional investors get involved.
In the grand scheme of things sure, but definitely a large influx as compared to the size of the market in Coinbase.
We're talking probably low 2-digit millions to make big moves I think.
Re: Coinbase down for maintenance
#30All of this is anecdotal: These past couple of days, whenever a coin soars a ridiculous amount, on any given exchange, that exchange seems to mysteriously go down. For example: Binance and Bitfinex were down for "maintenance" (or just plain down), while IOTA was experiencing a surge in price (from ~1.10 to 6$). Similarly this happens with Bitcoin today (it seems Quadriga had some issues and Coinbase; not sure about o…
Isn't it just the simple explanation that big swings in the market bring insane traffic spikes to market websites? Add to the fact that people are also DDOS websites (doesn't take a "big money institution" to do that) and it seems the explanation is clear...
Honestly, I don't think these exchanges can handle a lot of traffic. By a lot, I mean a few hundred trades a second. It is odd to me.