This is the 2nd time in 1 month that Coinbase goes down while BTC just plummets, causing people to not be able to sell to fiat while Poloniex offers a reduced USDT price. This is absolute horse shit and shouldn't be allowed. I wouldn't be surprised if the employees at Coinbase shorted BTC before this. I hate regulations, but this is wrong and ridiculous and should not be allowed.
Coinbase Down... BTC Dropping... How Convenient...
7 years ago in #bitcoin by skyefox (60)
$0.54
- Past Payouts $0.54
- - Author $0.47
- - Curators $0.07
Yeah..its horrible. Not only can you not sell, but you cant buy the dip either..
I have never had this issue on bittrex. But the real question is why is your Crypto on coinbase. I buy from them and immediately transfer to Exodus where I can then safely determine where it should go. If your tactic is to sell as a dump occurs try Exodus, in wallet shapeshift. This way you can just change Crypto vs bailing. This tactic will only allow change between Crypto, coinbase still had the benefit of sending back to your bank.
which again highlights the problem with centralised exchanges in an unregulated market...
When the rollercoaster makes that big drop - DON'T JUMP OUT.
I'm totally against regulation, but I hear ya. Timing on a lot of exchanges seems suspect when prices are rising or falling. Suddenly wallets are offline, or have syncing issues. When you can almost predict when it's going to happen it ceases to be a coincidence.
You're not the only one predicting the drop - millions others are probably overwhelming the webserver with their requests.