
Buys/Sells temporarily disabled on Coinbase - danvoell
https://status.coinbase.com/incidents/3q0rymj7866w
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shermozle
Can I suggest a better headline? _Bitcoin exchange stops exchanging_

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dsp1234
(for 20 minutes, 2 hours ago)

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ecshafer
The rest of the finance industry if we stop trading for 20 minutes it is a
very big deal, and is considered absolutely unacceptable from both a business
and regulatory perspective. I don't see why crypto exchanges shouldn't have
the same expectations to deal with.

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thephyber
(1) Nevermind the fact that BitCoin is only 10 years old, whereas financial
markets are two orders of magnitude older.

(2) Equities+bonds trade less than 8 hours a day, no more than 5 days a week
in most markets. BitCoin is a 24/7 marketplace. Not exactly apples-apples.

(3) You are comparing a company (CoinBase) with an industry (financial
equities market-making). If it's "unacceptable", the company's reputation will
pay a price and they may be sued by regulators and/or AGs.

(4) As late as last week, Gary Cohen stated that the WH is going to be hands-
off of BitCoin for now, so there is no "regulatory perspective" unless
(presumably) there is actual provable fraud or their stance changes.

(5) "absolutely unacceptable" is what a significant portion of US voters
thought of the financial and automotive bailouts, yet they still happened and
the people swallowed it. At least CoinBase is a voluntary contract with their
end-user.

 _edit_ : I derped on how old BitCoin is now

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ambicapter
Coinbase temporarily disabled my buying last week when I tried to link my bank
account in GDAX and it error'ed out twice. Their support continues to be
abysmally unresponsive.

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Terretta
If I recall, a recent PR piece suggested they were rolling a 10 day delay.

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surapaneni
Looks like it's already resolved.

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acdanger
Believe they sent out an email to users giving advance warning that this was
likely to happen.

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tudorconstantin
All the popular exchanges are facing scaling issues: I know about Poloniex,
Coinbase, Bittrex, bitfinex.

It's all because of the higher and higher interest in bitcoin and crypto
currency in general. Even CBOE had issues earlier today when they launched
their futures, even though they were not doing active tradings and have many
more years of experience (and time to scale).

There are interesting times ahead. Something we've never seen before in the
history of humanity. Not even the internet was so disrupting as the blockchain
technologies will become.

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bsurmanski
> Not even the internet was so disrupting as the blockchain technologies will
> become.

The internet was a paradigm shift for how we communicate. It seems like
blockchains are just sort of an opportunity to do things a different way.

From my perspective the main advantage of the blockchain is zero-trust
transactions. Everything that can be done on the blockchain can be done
easier/better off the blockchain as long as you choose to trust someone.

And currently from my perspective, no one is seriously using a blockchain for
anything but speculation.

In your opinion, what makes the blockchain comparable or more influential to
the internet?

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tcoppi
You have to trust miners and developers with blockchains still.

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e1ghtSpace
You only have to trust that at least 50% of all miners are legitimate. And the
public can choose to adopt what the developers create.

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mhluongo
Not quite. You have to trust that they aren't _colluding_. It's fine if
they're malicious as long as they aren't aligned

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tromp
It's not fine if 51% of miners are maliciously mining empty blocks. no
collusion necessary.

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XR0CSWV3h3kZWg
If 51% are simply mining empty blocks then tx rate drops by ~1/2 and tx fees
double. tx would still go through unless they are colluding.

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exabrial
I've been trying to get my identity verified on GDAX for a week. Is there some
trick I'm unaware of?

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fma
I'd say try keeping that pop up open after you upload...even though it says it
will email you the results. It may or may not work for you - could be a
coincidence for me. On my 3rd day of trying I just kept it open and got an
email a few minutes later saying I'm verified.

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RawData
Yeah this happened a couple times last week too...I just assume it happens
every time there's a huge jump in volume...

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cuckcuckspruce
I'm sure glad that my Dunning-Krugerands are production ready.

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ng-user
Step 1: Don't use 3rd party wallets

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trophycase
What do wallets have to do with buying and selling?

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bdcravens
At some point, even for a moment, exchanges serve as a wallet. Ideally you'd
only have coins there long enough to trade, but many users make it their long-
term storage. (Myself I generally buy on Gemini and transfer to Trezor)

(to be fair, there is a fee each time you move in and out of an exchange)

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surrey-fringe
Wow, this has never happened before.

HA! I was being sarcastic. Good one! Thanks!

