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sunsilk

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Quote from: NotATether on February 29, 2024, 07:56:53 AM

Quote from: sunsilk on February 29, 2024, 05:43:32 AM

The glitch was reported by bunch of its users. Several articles have published the glitch quickly. Honestly, this problem isn't new.

The outage is mostly common done by the surge of their users as well and it's made look ordinary for seasons like this. They should have solved and addressed this issue long ago.

We're likely to see more of this once Bitcoin surges more. Like there will be halt in transactions and the main reason is the server of these platforms and exchanges can no longer carry the weight the volume of their users.

I mean obviously this is caused by a surge of users buying Bitcoin. In other words, "buying high and selling low" Grin

Seriously though, why don't more people just buy Bitcoin at any price, especially on an average day or even a day when Bitcoin is performing badly. They only seem to remember it after the rally is completed and there is no more money to gain. I don't think we're going to see a price much higher than $62K before it dips again.

It's more of a belief that they won't invest unless something is happening to Bitcoin. And it's possible that there were a lot of people from that batch that have bought at the peak on 2021 and just probably held, maybe a very few percentage.

It happens every cycle, they don't buy during the bear market and they are not excited. But when the bull run comes, you ask it and they'd come for it.

Well, typical FOMOing.

logfiles

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Quote from: dkbit98 on February 28, 2024, 01:54:43 PM

Did Bitcoin pump just ''broke'' Coinbase exchange today?!

This happens every time there is a bull run or a flash dump. I think there are reports that even kraken, Robinhood and other bunch of exchanges had similar issues around about the same time Grin

Back in the day when Bitmex had the volumes, it would also completely freeze or crash, but I don't see that problem there anymore.

I experienced one of those outages one time and trust me, it can be so traumatizing, especially in the derivatives markets. Your position gets liquidated even before you blink, and yet you can't close it yourself.

dkbit98

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Quote from: NotATether on February 29, 2024, 07:56:53 AM

I mean obviously this is caused by a surge of users buying Bitcoin. In other words, "buying high and selling low" Grin

I don't agree with this, there are a lot of people who are selling everything now because they think we are near the top (I don'think so).
So this was a combination of people buying and selling, and in general using their exchange.
We are just getting started, so I can't even imagine what is going to happen when we get over $100k.

I checked Coinbase status page and I think issue is resolved (for now):
https://status.coinbase.com/

tabas

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Quote from: Husires on February 29, 2024, 07:46:55 AM

We have not even reached $100,000, as there will be a lot of demand. These companies must have plans for increased demand and strategies to deal with that, otherwise they will lose part of the customer base, or the service servers may be attacked for further price manipulation.

That's for sure and I agree that they should have themselves prepared for this coming surge or at least have some contingencies if ever the same thing ever happen again. They're expected to perform at their best every time that we're in a bull run cycle or make it as their standard that they're at their best shape regardless of the season. And that's true that those customers that have experienced this might think not to use them anymore because it's traumatic even it's just a bug.

Quote from: Husires on February 29, 2024, 07:46:55 AM

In a bull market, most services succeed in fulfilling their obligations due to the increase in the price of Bitcoin, but it is better not to bet that your money is safe if a problem occurs with the beginning of the price crashes.

It is what we've been telling people that they shouldn't keep their funds on exchanges because something like this might disappoint them. And not just that, they have to remember that the hackers are also too active during the bull run and could target these big exchanges. They could simply just keep it on their wallets and transfer it on exchanges when they're about to sell. Because if they have no intention of selling, there's no point of keeping it there.

NotATether

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Quote from: sunsilk on February 29, 2024, 05:43:32 AM

The glitch was reported by bunch of its users. Several articles have published the glitch quickly. Honestly, this problem isn't new.

The outage is mostly common done by the surge of their users as well and it's made look ordinary for seasons like this. They should have solved and addressed this issue long ago.

We're likely to see more of this once Bitcoin surges more. Like there will be halt in transactions and the main reason is the server of these platforms and exchanges can no longer carry the weight the volume of their users.

I mean obviously this is caused by a surge of users buying Bitcoin. In other words, "buying high and selling low" Grin

Seriously though, why don't more people just buy Bitcoin at any price, especially on an average day or even a day when Bitcoin is performing badly. They only seem to remember it after the rally is completed and there is no more money to gain. I don't think we're going to see a price much higher than $62K before it dips again.

Husires

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We have not even reached $100,000, as there will be a lot of demand. These companies must have plans for increased demand and strategies to deal with that, otherwise they will lose part of the customer base, or the service servers may be attacked for further price manipulation.

In a bull market, most services succeed in fulfilling their obligations due to the increase in the price of Bitcoin, but it is better not to bet that your money is safe if a problem occurs with the beginning of the price crashes.

sunsilk

hero member

Activity: 3038

Merit: 634

The glitch was reported by bunch of its users. Several articles have published the glitch quickly. Honestly, this problem isn't new.

The outage is mostly common done by the surge of their users as well and it's made look ordinary for seasons like this. They should have solved and addressed this issue long ago.

We're likely to see more of this once Bitcoin surges more. Like there will be halt in transactions and the main reason is the server of these platforms and exchanges can no longer carry the weight the volume of their users.

examplens

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I saw this on Reddit today, I can only imagine how these users felt when they saw 0 on their Coinbase accounts

Quote from: dkbit98 on February 28, 2024, 01:54:43 PM

Not Your Keys, Not Your Coins.

I would quote here this post by theymos, he perfectly formulated what the balance numbers on any service mean.

Quote from: theymos on November 14, 2022, 09:36:52 PM

When you log into an exchange, yield platform, or other site, and it says that you have a balance of "1 BTC" or "1 USD", this does not actually mean that you have 1 BTC or 1 USD. Rather, it means that the company showing you this balance owes you that money. In other words, you've given a loan to the company. Maybe the company will pay you back, but history is littered with defunct companies which accepted deposits and were widely trusted for years, but which ended up not paying back their depositors in the end.

dkbit98

legendary

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Did Bitcoin pump just ''broke'' Coinbase exchange today?!
I hear reports from their customers saying they have "zero balance" on their accounts, options for selling and buying are not working, and Coinbase say "Your assets are safe."
This looks a lot like ''funds are safe'' from Binance Tongue

Anyone with Coinbase account here?

Quote

We are aware that some users may see a zero balance across their Coinbase accounts & may experience errors in buying or selling. Our team is investigating this & will provide an update shortly. Your assets are safe.
You can track this incident at http://status.coinbase.com

https://twitter.com/CoinbaseSupport/status/1762899058060890556

Not Your Keys, Not Your Coins.

BitMaxz

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If you are still looking for more Coinbase contact support you can call or email them directly from these contact numbers and emails below.

Unresolved complaints contact number:

# +1 (888) 908-7930
# +1 (646) 760-6195

For their email support contact check this

Email: [email protected]

OmegaStarScream

staff

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Quote from: Oshosondy on February 14, 2024, 09:53:09 AM

-snip-
This is Coinbase Twitter link: https://twitter.com/coinbase

I am not using the exchange, there should be a way you can also send email to their customer care representative or it can even be through live chat which is preferable. I use live chat on the exchanges that I am using after their bot is not able to answer my question as usual.

This one is better, it's the official support account: https://twitter.com/coinbasesupport

Sending a complaint using the link you posted should be equal to sending an email. As for the live chat, apparently it's with a virtual assistant, probably won't be of too much help.

Oshosondy

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Read about how to contact Coinbase using this link: https://help.coinbase.com/en/coinbase/other-topics/other/how-to-send-a-complaint
You can use this contact form: https://help.coinbase.com/en/contact-us/submit-a-complaint

This is Coinbase Twitter link: https://twitter.com/coinbase

I am not using the exchange, but there should be a way you can also send email to their customer care representative or it can even be through live chat which is preferable. I use live chat on the exchanges that I am using after their bot is not able to answer my question as usual.

OmegaStarScream

staff

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Depends what's the emergency is. If your account was compromised and you can't connect to your account, then apparently you can call them:

https://help.coinbase.com/en/coinbase/privacy-and-security/account-compromised/my-account-was-compromised

Expand the "Can't sign it" tab for the phone numbers to appear.

For anything else, you should write to them: https://help.coinbase.com/en

Marina5

jr. member

Activity: 439

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I need emergency support from Coinbase. I didn't find any way to talk/chat with their support. Please give me proper way to connect with them.

Topic: Coinbase Support (Read 156 times)