Coinbase says buying and selling temporarily disabled amid price rout
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Re: Coinbase says buying and selling temporarily disabled amid price rout
#2> "Investigating - All buys and sells have been temporarily disabled. We are working on a fix and apologize for any inconvenience," Coinbase said on its status website at 11:11 a.m., ET.
What exactly is broken that needs to be fixed? Is there just a ton of trading volume and their system cant keep up ?
Edit:
I ask because the headline just says that prices are falling quickly and so Coinbase halted trading. This sounds a lot like a circuit breaker but then you read the article to find out something is actually broken.
I'm really curious to know what the symptoms are of whatever is broken. Are trades taking too long to execute? Are people being fulfilled at prices different than they were quoted? What is actually happening?
Re: Coinbase says buying and selling temporarily disabled amid price rout
#3There is something that feels extremely fishy to me about what has happened at coinbase over the last few days.
For years I've told people to just store their coins on coinbase. I've been a big fan of their "vaults", and I've been saying that they are the shining beacon of legitimacy in this whole thing.
I honestly don't know that I still agree with that. This whole rollout of BCH has made me honestly start questioning if I can trust coinbase anymore. I expect stuff like this from sketchy exchanges like what btc-e was, but not coinbase. That makes me really sad, since they were (still are, for now) such an incredible success story.
I think there is going to be a lot of regulation coming and I'm not entirely sure that that is a good thing. It makes me pause for the same reason I wouldn't be sure that regulators telling me what webservers or programming languages I'm allowed to use would be a good thing.
I really hope all of the "never keep anything on an exchange!" people aren't proven right again by coinbase of all people.
Re: Coinbase says buying and selling temporarily disabled amid price rout
#4> "Investigating - All buys and sells have been temporarily disabled. We are working on a fix and apologize for any inconvenience," Coinbase said on its status website at 11:11 a.m., ET. What exactly is broken that needs to be fixed? Is there just a ton of trading volume and their system cant keep up ? Edit: I ask because the headline just says that prices are falling quickly and so Coinbase halted trading. This soun…
They go down practically every time there's a lot of volume. Not sure if they have publicly addressed what sort of infrastructure problems they're having though.
Re: Coinbase says buying and selling temporarily disabled amid price rout
#5> "Investigating - All buys and sells have been temporarily disabled. We are working on a fix and apologize for any inconvenience," Coinbase said on its status website at 11:11 a.m., ET. What exactly is broken that needs to be fixed? Is there just a ton of trading volume and their system cant keep up ? Edit: I ask because the headline just says that prices are falling quickly and so Coinbase halted trading. This soun…
If it's anything else such as allowing insiders to exit before a crash really takes hold, then people are going to jail.
Re: Coinbase says buying and selling temporarily disabled amid price rout
#6[deleted]
Re: Coinbase says buying and selling temporarily disabled amid price rout
#7The issue with this type of circuit breaker is that there is really no information to let people absorb and calm themselves. When you resume the trade people will still be clueless on why prices moved that way and resume their selling
Re: Coinbase says buying and selling temporarily disabled amid price rout
#8Coinbase does a number of things that seem strange from a market perspective. There doesn't appear to be an auction to open/close or restart.
Instead they seem to lock their markets and allow post only orders.
The other things this screams is that
1) stop loss orders are useless in volatile markets. I've harped on this alot from the US Cash Equities side but it appears to be equally valid. YOu'll only end up getting filled at te worst possible price and miss the inevitable market rebound.
2) Coming from 1) Don't use leverage, you'll get your face ripped off one of these days due to volatility and you'll be asked to submit more margin just when you can least afford to and possibly be liquidated at the bottom.
Re: Coinbase says buying and selling temporarily disabled amid price rout
#9There is something that feels extremely fishy to me about what has happened at coinbase over the last few days. For years I've told people to just store their coins on coinbase. I've been a big fan of their "vaults", and I've been saying that they are the shining beacon of legitimacy in this whole thing. I honestly don't know that I still agree with that. This whole rollout of BCH has made me honestly start questioni…
What advantages are there to storing BTC on Coinbase vs. your own wallet
Re: Coinbase says buying and selling temporarily disabled amid price rout
#10> "Investigating - All buys and sells have been temporarily disabled. We are working on a fix and apologize for any inconvenience," Coinbase said on its status website at 11:11 a.m., ET. What exactly is broken that needs to be fixed? Is there just a ton of trading volume and their system cant keep up ? Edit: I ask because the headline just says that prices are falling quickly and so Coinbase halted trading. This soun…
They go down practically every time there's a lot of volume. Not sure if they have publicly addressed what sort of infrastructure problems they're having though.
Have they gone down when the price is surging upward? I only ever see them going offline when the price goes down but I may have missed something.