
Coinbase is down - fjordan
https://www.coinbase.com/dashboard
======
TaylorGood
Per their Twitter:

We are experiencing all time high traffic at the moment – 8x the peak we saw
in June

------
pech0rin
Why not change the link to the status page status.coinbase.com ?

------
BenjiWiebe
It's up for me.

------
Inversechi
and BTC is dropping...

~~~
loceng
It makes me wonder: is there a way for investors (perhaps only the ones with
millions who work with Coinbase or other platforms directly) to automatically
slowly buy up Bitcoin et al, so they could manage for a slow increase in
value?

In reverse, it seems like a common practice to not dump/sell a large amount of
a crypto-asset all at once either, as then so far historically it always
crashes because there's not enough being pumped into it.

~~~
nullbyte
Yes! In fact, Coinbase has a feature that lets you do just that.

~~~
loceng
This more and more looks like a Ponzi-like scheme that's simply decentralized
and global, and where different investors are incrementally supporting each
other and the current price just by slowly buying - and no one liquidating too
quickly.

Imagine an actual Ponzi scheme, where if the stock broker was able to find and
manage/facilitate millions of people around the world to slowly buy and sell
... the stock broker in this case is the Bitcoin blockchain itself.

~~~
hndamien
A Ponzi scheme is based on a lie that there is an underlying asset delivering
some yield, when in fact it is other investor money. So you can never sell the
asset to derive the capital gain. Bitcoin on the other hand has an underlying
asset (rights to the blockchain) and has no yield as a dividend. In many ways
it is closer to a bank in that you hope everybody doesn't want to withdraw all
at once. The main difference is that the money is backed by equity rather than
debt.

~~~
loceng
Money in the bank doesn't increase in value because more people demand it.
Bitcoin et al are much closer to a global and decentralized Ponzi scheme than
a currency system. I do understand what you're saying, however the biggest
difference that makes it a completely different beast is how wealth is
redistributed unreasonably weighted towards the earlier adopters. I would
likely be all for blockchain crypto-assets working as a currency so long as
they were fixed price.

~~~
hndamien
Land wealth was also weighted to early adopters.... Gold wealth was weighted
towards early adopters...

