Dear dev team... please get back to work. Our brick & mortar business is still humming along, paying your salary and needs your help... and you now need us to 'buy the dip'.
Coinbase outages
41–50 of 310 posts
Re: Coinbase outages
#42According to Binance, Bitcoin just went down from $42k to $30k in 2 hours. Elon Musk selling his cryptocurrencies??
Its due to that, automated selling probably, but mostly because of China adding increased scrutiny. CN is one of the biggest bases of bitcoin:
https://www.cnn.com/2021/05/19/investing/bitcoin-price-drop-...
Re: Coinbase outages
#43deleting due to quality of replies
They are all linked and deeply correlated to Bitcoin. Also happens in the other direction.
Re: Coinbase outages
#44Earlier quoted context omitted.
The volume of Bitcoin is over $100B sometimes. It's over $75B in the last 24 hours. There are several days in the last month, according to Tether, with AT LEAST $500M of inflows. A single $1B of outflows shouldn't tank a market like this by 40%...
It’s what happens when the entire vehicle is speculation. I know the plan and the desire is for Bitcoin to be used as an alternative payment method but it isn’t fit for purpose. The people investing in it are doing so purely on a speculative basis, so you’d better believe plenty will cash out at the first sign of a dip.
Can you please point me a source where Bitcoin is "desired" as a payment method? It's seen more of a store of value, not used for paying for everyday things.
Re: Coinbase outages
#45CoinmarketCap is also down.
https://coinmarketcap.com/
Re: Coinbase outages
#46CoinmarketCap is also down. https://coinmarketcap.com/
Looks fine to me.
Re: Coinbase outages
#47deleting due to quality of replies
Thinly traded, purely speculative markets, with very few, highly concentrated holdings, running on completely untested, largely unregulated exchanges, with no SLAs, middlemen, customer support, etc. . .
Re: Coinbase outages
#48I'm really furious Coinbase for an unrelated incident.
I bought a bunch of BTC back in 2018 on Coinbase and just left it there, I rarely checked it. Fast forward to 2021 and I want to see how my portfolio has grown, only to be told my account was disabled. This was back at the beginning of March. So I contacted them and told them my issue. They sent me instructions on changing passwords, calling my mobile service provider etc. Some ridiculous stuff. I did it all. Only for them to tell me that they have to forward my case to a specialist. 3 weeks later, they come back to me telling me to repeat the same steps as I did before, and I complied, only for them to tell me they are again forwarding it to a specialist. Another 3 weeks later, they tell me to repeat the same steps in addition to taking a photo of myself holding my ID with a sign that says 'For Coinbase verification'. Did that degrading stuff too. Guess what they told me again, oops we are forwarding it to a specialist.
I don't know whether it is automated supported or what but this is absolutely disgusting and there is no name to the emails, just 'Coinbase Support'.
Re: Coinbase outages
#49Earlier quoted context omitted.
It's also a circuit breaker for regular brokerages too :)
Except Crypto isn’t regulated like stocks, so what your likely seeing is the exchange themselves shutting off service to lock in their customers while the exchange liquidates its positions.
Not Coinbase.
Re: Coinbase outages
#50Earlier quoted context omitted.
It's also a circuit breaker for regular brokerages too :)
Except Crypto isn’t regulated like stocks, so what your likely seeing is the exchange themselves shutting off service to lock in their customers while the exchange liquidates its positions.
Who are they liquidating their positions to if they are shutting off access to exchanges? Every seller needs a buyer.