Update: Coinbase is back already, but they will NOT let you trade Bitcoin Cash yet, and the Bitcoin Cash PRICE on Coinbase is more than double the other exchanges like Bittrex. If trading Bitcoin Cash comes in, there's going to be some SERIOUS arbitraging going on.
Coinbase has a real knack for disappearing from usefulness right when you need them most, don't they?
Volatility is VERY high in cryptos right now, as almost everything not named Bitcoin Cash has been dropping like a rock today. Wanna "take some money off the table"? You can't! Coinbase is down!
Imagine you own some AAPL and want to sell some share to pay for grandma's heart medicine, and you need that money ASAP. You open up your brokerage account, sell the AAPL on the NYSE, collect the cash, and then make a withdrawal from your broker to your bank account. Can't do that on Coinbase right now, their entire SITE is offline!
The shame of this, is everyone in crypto has accepted this as just part of crypto. But isn't fast, RELIABLE, low-cost, secure transaction why crytocurrencies are supposed to be the next big thing? What exactly do you own, if you own bitcoin?
We think it wise to really think deep on these questions, at this moment in time, bc in the answer you tell yourself lies truth and the path....
we didn't say it....!
https://twitter.com/erich_landa/status/943278536965619712
https://twitter.com/CryptosQueen/status/943294106163400704
Keep in mind some information about Coinbase today given they just announced Bitcoin Cash is accessible and tradable on GDAX, lest you get too hot under the collar...
there's going to be some rather strong volatile forces at play:
#1 Large Institutional Investors who can ONLY trade on Coinbase due to limited BitLicenses, are getting their first opportunity to buy Bitcoin Cash. This is a form of order latency, or backed-up order flow, and creates a rush of demand vs limited supply
#2 Coinbase is down. Now HERE you might cry foul play, as Coinbase being down is VERY convenient in that it prevents bitcoin owners as of August to go into their Coinbase accounts and sell Bitcoin Cash. THAT could be manipulation, but that's different from what you're claiming here.
#3 Bitcoin holders are getting their hands on their Bitcoin Cash distributions for the first time, and this will likely create SELLING liquidity in BCH.
So there are a LOT of forces at play, but most don't involve foul play unless you think Coinbase makes their own site go down to help themselves (and not their customers). But foul play IS possible, of course-- this is after all the wild wild west in terms of financial markets, so tread carefully Steemians-- may you pick your spots!
They went down because of the high traffic following the Bitcoin Cash listing
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The exchanges are like our local banks. Why do we think that we matter to them? I walked in to my local Compass bank and asked to take $11,000 out of my checking and they looked at me like I had two heads. "we don't have that kind of currency here." Why do you think they have withdraw limits but your buy limits can get increased?
Good post harpoorer!!!
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VERY true, you can deposit ALL the cash you want, but they always seem to have some red tape for you if you wanna pull money OUT of the system. Now imagine what will happen in the world when this sh!t starts happening in the good ol' US DOLLAR someday!? Remember in 2009 you had to make an appointment a week in advance to yank $10,000 out of cruddy Wells Fargo (or is it FEE-go?).
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Just make sure you have your gold and silver in a credit union or private storage lock box and some dug deep in a hole in your yard. A few thousand in soon to be worthless $bills, also.
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Seems to happen all the time.
I don't have to worry about coinbase, I don't trust others with my funds
I just use CFD's to trade cash and also hold different coins in my own wallets
All the CFD sites I use are FSA regulated in the UK and I have been using them for years now and they always add new coins to trade all the time.
The only way I can lose all my cash is if the websites go bust but they are all great sites that have been around much longer than Cryptos as they are actually sites for trading STOCKS, BONDS, FX, COMODETIES etc.
I can also SHORT SELL and earn from cryptos losing value too. Earn when they rise, earn when they fall. Best of both worlds really.
Hope no one loses cash while the site is down.
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interesting, what is a CFD? Certificate of Deposit?
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It's Contract For Difference
I just trade the Value of Cryptos
I also get 50:1 Leverage so I can purchase 50x the amount I deposit (min deposit £100)
I could get 300:1 Leverage but that's very risky lol but I can also buy real stocks like McDonald's, Starbucks etc yeah they are less earnings daily but they are pretty much guarenteed lol
If I do a SHORT SELL I'm just promising to BUY back at a future price. If price goes up I lose the difference but if price goes down I pocket the difference,
I can get in and out at any time, any price.
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Coinbase is not down currently.
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Depends where you are. Kraken is down right now for me.
Stay Classy, Lau
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Disclaimer: I am just a bot trying to be helpful.
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I m sorta glad they dont let me sell in canada so I found something different
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What other option is there to coinbase?
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