Temporary pause of Bitcoin withdrawals on Binance

#1

Post by tosh » Mon, Jun 13, 2022, 12:12 PM UTC

Temporary pause of Bitcoin withdrawals on Binance
twitter.com

Re: Temporary pause of Bitcoin withdrawals on Binance

#2

Post by jstx1 » Mon, Jun 13, 2022, 12:38 PM UTC

> due to a stuck transaction causing a backlog

How convenient for a transaction to get stuck on such a bad day for crypto prices.

Re: Temporary pause of Bitcoin withdrawals on Binance

#3

Post by wfhordie » Mon, Jun 13, 2022, 12:40 PM UTC

So what exactly is the point of holding BTC if it can be held hostage like this? Crypto continues to fail at its most basic premises.

Re: Temporary pause of Bitcoin withdrawals on Binance

#4

Post by naraga » Mon, Jun 13, 2022, 12:45 PM UTC

wfhordie wrote: post #3

So what exactly is the point of holding BTC if it can be held hostage like this? Crypto continues to fail at its most basic premises.

not your keys not your coins. nothing to see here

Re: Temporary pause of Bitcoin withdrawals on Binance

#5

Post by wfhordie » Mon, Jun 13, 2022, 12:49 PM UTC

naraga wrote: post #4

wfhordie wrote: post #3

So what exactly is the point of holding BTC if it can be held hostage like this? Crypto continues to fail at its most basic premises.

not your keys not your coins. nothing to see here

Crypto is user hostile then? Got it

Re: Temporary pause of Bitcoin withdrawals on Binance

#6

Post by colpabar » Mon, Jun 13, 2022, 12:52 PM UTC

naraga wrote: post #4

wfhordie wrote: post #3

So what exactly is the point of holding BTC if it can be held hostage like this? Crypto continues to fail at its most basic premises.

not your keys not your coins. nothing to see here

"real crypto has never been tried"

Re: Temporary pause of Bitcoin withdrawals on Binance

#7

Post by edf13 » Mon, Jun 13, 2022, 12:57 PM UTC

jstx1 wrote: post #2

> due to a stuck transaction causing a backlog How convenient for a transaction to get stuck on such a bad day for crypto prices.

Didn’t read his next message?

> This is only impacting the Bitcoin network. You can still withdraw Bitcoin on other networks like BEP-20.

Re: Temporary pause of Bitcoin withdrawals on Binance

#8

Post by shawabawa3 » Mon, Jun 13, 2022, 12:57 PM UTC

wfhordie wrote: post #3

So what exactly is the point of holding BTC if it can be held hostage like this? Crypto continues to fail at its most basic premises.

You should be asking "what exactly is the point of holding BTC on Binance"

Re: Temporary pause of Bitcoin withdrawals on Binance

#9

Post by rvz » Mon, Jun 13, 2022, 12:58 PM UTC

wfhordie wrote: post #5

naraga wrote: post #4

Earlier quoted context omitted.

not your keys not your coins. nothing to see here

Crypto is user hostile then? Got it

Nope.

The point is you store your crypto on a non-custodial software wallet (Metamask) or a hardware wallet (Ledger Nano) and not on an exchange, so it cannot be 'held hostage'.

It is not your keys, not your coins if it is on an exchange which uses custodial wallets, but doesn't apply if it is on a non-custodial wallet.

Re: Temporary pause of Bitcoin withdrawals on Binance

#10

Post by Lionga » Mon, Jun 13, 2022, 12:59 PM UTC

30 Minutes mentioned now passed twice, no update. Well Not your keys, not your coins (not that they will be worth much soon anyway...)