Coinbase not transferring bitcoins

#1

Post by drifting » Wed, Mar 20, 2013, 7:19 PM UTC

More than 24 hours ago I tried to transfer bitcoins from my coinbase wallet to another. The transaction is still pending when it should have taken no more than 60 min.

This seems to be a known issue that is being worked on [https://twitter.com/coinbase/status/314167537501868032, https://twitter.com/coinbase/status/314173853028986881, http://www.reddit.com/r/Bitcoin/comments/1anvaz/warning_avoid_coinbase/], but is troubling how there is no indication when this problem will be solved. A disconcerting reminder that unless your bitcoins are in your wallet, they aren't yours!

Re: Coinbase not transferring bitcoins

#2

Post by gesman » Wed, Mar 20, 2013, 7:42 PM UTC

It take exactly 2 seconds from pushing button at MtGox to arriving my coins at my blockchain.info wallet.

1 hour? Do they hand-deliver bitcoins?

Re: Coinbase not transferring bitcoins

#3

Post by wmf » Wed, Mar 20, 2013, 7:47 PM UTC

gesman wrote: post #2

It take exactly 2 seconds from pushing button at MtGox to arriving my coins at my blockchain.info wallet. 1 hour? Do they hand-deliver bitcoins?

The standard six confirmations takes an hour. Accepting zero-confirmation transactions from trusted peers is a nonstandard optimization.

Re: Coinbase not transferring bitcoins

#4

Post by gesman » Wed, Mar 20, 2013, 7:52 PM UTC

wmf wrote: post #3

gesman wrote: post #2

It take exactly 2 seconds from pushing button at MtGox to arriving my coins at my blockchain.info wallet. 1 hour? Do they hand-deliver bitcoins?

The standard six confirmations takes an hour. Accepting zero-confirmation transactions from trusted peers is a nonstandard optimization.

blockchain.info shows confirmations as they happens in realtimes as well...

Re: Coinbase not transferring bitcoins

#5

Post by freddyfingers » Wed, Mar 20, 2013, 7:59 PM UTC

My understanding is that coinbase uses a "hot wallet." This means that your actual bitcoin wallet doesn't contain any coins. Rather, when you want to move coins, they are taken out of a centralized wallet and then sent where needed. Maybe coinbase is playing hedging games with your coins...

Re: Coinbase not transferring bitcoins

#6

Post by oscilloscope » Wed, Mar 20, 2013, 8:45 PM UTC

The problems are worse than that. My account got reset yesterday. I now show 0 transactions and 0 Bitcoin. I had an outgoing transfer that was pending for almost 36 hours. Now, nothing.

Re: Coinbase not transferring bitcoins

#7

Post by nym » Fri, Mar 22, 2013, 11:52 PM UTC

If you want to find other providers (or leave a review for coinbase) check out http://howdoyoubuybitcoins.com/ - it's a free site full of guides and reviews for buying bitcoin.