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  • If you have Bitcoin, better give this service outage warning from Coinbase a thorough look

    Posted on December 7th, 2017 at 11:39 woody Comment on the AskWoody Lounge

    I don’t comment about Bitcoin very often. After all, anything I say today will be off by 20% or 40% by tomorrow. Suffice it to say that Bitcoin’s been going through a roller coaster ride seldom experienced in the real world.

    Coinbase, a big Bitcoin trading market, issued an official notification on Dec 7 at 8:18 am PST:

    Identified – Identity verification is failing to complete for a significant number of customers due to high traffic. We are working on restoring services as soon as possible.

    Check out the Coinbase outage map at downdetector.com — which, if anything, probably understates the situation.

    Good overview from Coindesk.

    The world’s largest bitcoin exchanges by trade volume are reporting significantly varying prices as the cryptocurrency’s price soars to new all-time highs, market data shows. In some cases, the differences amount to more than $2,000 in value, particularly among some of the most voluminous exchanges.

    With an official launch of Bitcoin futures coming on Sunday, starting with CBOE Global Markets then quickly moving on to the CME Group exchange, heaven only knows what’ll happen

    The Guardian is staying on top of it all, in real time.

    If that helped, take a second to support AskWoody on Patreon

    Home Forums If you have Bitcoin, better give this service outage warning from Coinbase a thorough look

    This topic contains 6 replies, has 6 voices, and was last updated by  DAVe3283 4 days, 17 hours ago.

    • Author
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    • #150667 Reply

      woody
      Da Boss

      I don’t comment about Bitcoin very often. After all, anything I say today will be off by 20% or 40% by tomorrow. Suffice it to say that Bitcoin’s been
      [See the full post at: If you have Bitcoin, better give this service outage warning from Coinbase a thorough look]

    • #150679 Reply

      anonymous
    • #150698 Reply

      HiFlyer
      AskWoody Lounger

      Ars Technica (before NiceHash heist)

      A brief history of Bitcoin hacks and frauds
      Bitcoins have been a juicy target for hackers since 2011.

      Timothy B. Lee – 12/5/2017, 1:30 PM

      https://arstechnica.com/tech-policy/2017/12/a-brief-history-of-bitcoin-hacks-and-frauds/

      “Just one word Ben……Tulips”

    • #150715 Reply

      Seff
      AskWoody Lounger

      Is there any legitimate, let alone sensible, reason for people to buy bitcoins? I’ve always rather assumed that bitcoins only appeal to criminals on the dark web, hackers, extreme currency gamblers with more money than they know what to do with, and ransomware victims who should know better than to pay up in the vague hope that they will actually hear again from their attackers. However, I could well be wide of the mark, I suppose.

      • This reply was modified 1 week, 1 day ago by  Seff.
    • #150695 Reply

      anonymous

      I think the Big Sharks have been manipulating Bitcoin prices and profiting from the Small Fish gullible investors.
      … Just wait for the Big Drop coming soon.

      This kind of price manipulation happens also in the Stock Market, eg notice that the World Stock Market Crash’es about every 12 years like clockwork, ie 1973, 1985, 1997, 2008 …

      Stock Market trading only began to gain mass market or small fish appeal during the 1960s with the introduction of mass communication through home-telephones.

      2 users thanked author for this post.
    • #150892 Reply

      Jan K.
      AskWoody Lounger

      … I’ve always rather assumed that bitcoins only appeal to criminals on the dark web, hackers, extreme currency gamblers with more money than they know what to do with, and ransomware victims who should know better than to pay up in the vague hope that they will actually hear again from their attackers. However, I could well be wide of the mark, I suppose.

      No, and you can add Woody to your list of criminals, hackers et al… 😀

      Then again… most banks probably have the same list as their customers?

      If one believes in bitcoin, then one clearly would be an idiot not to purchase and mine as many as possible! Where else do you see a “stock value” sky-rocketing this fast?

      Me? I expect a major blow-out one day…

    • #151300 Reply

      DAVe3283
      AskWoody Lounger

      I bought some bitcoin last year to buy some software because they were offering 10% off if you used bitcoin. I bought $400 worth (0.7 BTC at the time), figuring I would use the remainder over time. I bought a VPN subscription later, then forgot about it. This weekend, I saw the news that Bitcoin was over $10k, and dug out my wallet. I still had ~0.3 BTC left, so I sold all but 0.1 BTC on coinbase. In theory (and I am not holding my breath) I will get $2300 deposited in my bank on Friday. If so, I will be tickled pink by the whole thing.

      I also believe it is headed for a crash, but whatever, I bought some, used it for what I wanted, then cashed out the change for bonus profit I wasn’t expecting!

    Please follow the -Lounge Rules- no personal attacks, no swearing, and politics/religion are relegated to the Rants forum.

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