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Litecoin and Ethereum buys and sells are temporarily disabled

status.coinbase.com

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Re: Litecoin and Ethereum buys and sells are temporarily disabled

#111

Post by ktta »

sd_mikey wrote: post #10
jliptzin wrote: post #5

What is causing the sudden rise in litecoin?

My guess is that the there are a lot of newbies now on Coinbase (#1 app in the Apple AppStore). They are buying the cheapest “bitcoin” without actually understanding what they are buying. This has increased demand for the cheaper of the only three options in Coinbase thus increasing price.

I think there's a more nefarious reason. Some guys with deep pockets buying just to increase the price. I want to call it pump and dump, but same happened to bitcoin and it's still afloat.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#112

Post by agumonkey »

phil248 wrote: post #25
sedtrader wrote: post #15

A lot of emotion with LTC. People are downloading Coinbase and buying LTC simply because it is the cheapest on Coinbase. This is definitely a bubble, really cant deny that anymore. All emotional, non-rational behavior.

Having purchased several cryptocurrencies recently, I can attest that I am certainly not acting rationally. But at least I'm having fun!

I'm rationally delaying my irrationality. Helped by platform registration bottlenecks

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#113

Post by notjustanymike »

__sha3d2 wrote: post #101
wott wrote: post #75

Earlier quoted context omitted.

I should start a business selling thin air. Thin air from France, thin air from Japan, thin air from Mexico, and so on, you can collect them all, it is super fun. Then I could introduce cold captured thin air, warm captured thin air, etc. Wet thin air, dry thin air for year 3. More fun every year. Even better, I should sell just a paper (well, an electronic one) stating you own some thin air. Hey, geeks, how cool can…

I'm not kidding when I say that you would be surprised at the size of the market for canned air. I made this same joke several years ago and then looked into it and was blown away.

Canned Air: It'll Blow You Away

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#114

Post by brentm »

matte_black wrote: post #81
sedtrader wrote: post #15

A lot of emotion with LTC. People are downloading Coinbase and buying LTC simply because it is the cheapest on Coinbase. This is definitely a bubble, really cant deny that anymore. All emotional, non-rational behavior.

I disagree. Buying can be 100% rational as long as you believe some other fool down the line will buy it off you. As soon as the supply of irrational buyers dries up it’s game over. But that doesn’t look like it will happen anytime soon, just look around!

It is as rational as playing roulette. Most of people buying at this point probably can't articulate what they are buying, just that it's probably going to be be worth more money soon. I had to sell my BTC on Sunday, I am waiting to get back in when the exuberance flips around and everyone says it's dead.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#115

Post by kss238 »

jawilson2 wrote: post #27
sd_mikey wrote: post #10

Earlier quoted context omitted.

My guess is that the there are a lot of newbies now on Coinbase (#1 app in the Apple AppStore). They are buying the cheapest “bitcoin” without actually understanding what they are buying. This has increased demand for the cheaper of the only three options in Coinbase thus increasing price.

This is supported by the fact that there is $50-$100 difference between gdax/coinbase and other exchanges. This happened with BTC last week too: on gdax the price hit ~$19000, and remained close to $15000 on the others, before reverting.

Before this latest gain, Korean exchanges were consistently priced 5-10% higher than all others. Now it's reversed. I don't think it signals anything.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#116

Post by Joeboy »

wott wrote: post #75
phil248 wrote: post #25

Earlier quoted context omitted.

Having purchased several cryptocurrencies recently, I can attest that I am certainly not acting rationally. But at least I'm having fun!

I should start a business selling thin air. Thin air from France, thin air from Japan, thin air from Mexico, and so on, you can collect them all, it is super fun. Then I could introduce cold captured thin air, warm captured thin air, etc. Wet thin air, dry thin air for year 3. More fun every year. Even better, I should sell just a paper (well, an electronic one) stating you own some thin air. Hey, geeks, how cool can…

Named "Useless Ethereum Token", with the strapline "seriously, don't buy these tokens", raised $187k worth of ETH. https://uetoken.com/

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#117

Post by wmichelin »

scurvy wrote: post #70
astrowilliam wrote: post #8

Earlier quoted context omitted.

That's what happens when a business is trying to scale to meet crazy demand.

Can't they just click the auto scale button in AWS? Isn't that the entire point of cloud services?

Can't tell if you're trolling or not... ;p

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#119

Post by SilasX »

scurvy wrote: post #70
astrowilliam wrote: post #8

Earlier quoted context omitted.

That's what happens when a business is trying to scale to meet crazy demand.

Can't they just click the auto scale button in AWS? Isn't that the entire point of cloud services?

That works, so long as you've refactored your infra to the point that the computational resources (whether server nodes or hard disks or or database shards) are modular enough that you can just add more stuff and it will play nice with everything else. That objective -- not a cute UI that lets you change one of the numbers -- is the hard part.

And yes, it is to Coinbase's discredit that they haven't done so, but (assuming you're not joking), they could very well not be at that stage. It's typical for startups to have technical debt like that.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#120

Post by where_do_i_live »

EGreg wrote: post #91

I wonder, what are these exchanges like GDAX, BitMex etc. doing with their dollar/euro/etc. reserves? They obviously need to keep dollars on hand in order to cash everyone out. But what if Bitcoin goes up in price? If there is a run on the exchange later they may have to sell their bitcoins on the spot market to cash people out. Banks reinvest money held into loans and other speculative investments. But what do you d…

Huh - that is nonsense. They hold the exact amount of USD that their customers have deposited. They are custodians - not fractional reserve banks.
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