Winklevoss crypto firm Gemini to return $1.1bn to customers
https://www.bbc.com/news/business-6...utm_medium=newsletter&utm_source=morning_brew
https://www.bbc.com/news/business-6...utm_medium=newsletter&utm_source=morning_brew
Bitcoin Price Thread
- Thread starter Magna
- Start date
The time to buy crypto was yesterday, like the rest of us...
I’m putting my tin foil hat on while I’m writing this. Coinbase is the main place that individual investors can buy crypto easily without being very savvy. Isn’t it convenient that while myself and who knows how many others are blocked from buying spot on Coinbase…..it’s still trading fantastic volume? Someone is having no problem trading on the Coinbase exchange. First the GBTC dump, now the main platform is having issues. This is working out fantastic for the ETFs to have extra time to buy their coin without running price up on themselves. Of course I’m a little crazy so it’s probably only my imagination running wild.
It's no different than when Robinhood froze buying GME shares because too many hedge funds were short and bleeding.
Can you really not buy Bitcoin still? Has the glitch now been fixed? I would buy the ETF then if you can just so you can have price exposure, and then swap out to buying Bitcoin and withdraw if you can.
Although you're usually pretty nutty, I don't believe your claim here is crazy at all.
As @NoahA stated above, they will alway line up to those who have money and power. As for small peanuts like you and me, "f*ck em" is their usual response.And guess who are the biggest backers of Coinbase? Yeah, like you didn't already know
Still can’t buy. I have a cash balance that says unavailable. Better than the freaking zero balance it had before that though. I also had a small amount of USDC that I was able to convert to BTC. But they don’t want my cash….the end of fiat is already begun
They might taking time to verify your deposit is legitimate.
https://ethereum.stackexchange.com/...xt=As to why part of,used to fund the account.
I’m not talking about a recent deposit. I haven’t had to send Coinbase money since last fall. They have some major issues at Coinbase right now. Last weekend I had an open futures sell order that I wanted to cancel before the open Sunday night but the app would say “something went wrong” when I pushed the cancel button. The cancel button on the website was shaded out and not clickable. First level support told me that it wasn’t a known problem and then went on to say that they didn’t have the privileges to cancel the order for me. They assured me that it should start working before Sunday night, kind of blowing me off. I should’ve pressed it and insisted that I speak with a trade desk that could’ve canceled the order but I chose to trust them. Wrong thinking. Then on Wednesday we had the zero balance issue. Now my coin and cash balances are showing correctly but my “available cash” showed $0.05 until last night when it changed to $0.04. I had a small amount of USDC and I tried converting it to BTC and it wouldn’t let me use the whole amount, I had to leave a $0.05 balance in USDC for the transaction to go through.
I can’t help but think this is either sabotage or intentional. Exchange platform software isn’t new and I’ve never had a problem like this on any other exchange or the three trading platforms I use. I’ve been trading futures for over 25 years and I’ve never seen an exchange have a problem like this. Maybe there have been instances where an exchange shut down completely due to technical difficulties or something like 9/11, but never an event that prevents some traders from transacting while the exchange keeps plugging along for others.
If the system was actually overloaded it says a lot about the competency of Coinbase. I’m moving my coin off their exchange as soon as my account is back to normal. Until then I’m kind of afraid to make any transaction and risk something going wrong. I hope this event is investigated. I see a class action lawsuit in the future.
And on top of that I just became aware that you can no longer buy bitcoin through TradeStation. They had an SEC problem back in February and stopped offering it. So now I don’t know where to buy spot. I guess CME futures will have to do for a while.
I would also love to know how many coinbase users can’t increase their position right now. You could do some quick math and estimate the minimum dollar amount that has been prevented from entering the space.
I must retract my "available cash" issue. I had failed to transfer my funds to from my Coinbase futures account to the spot account, that's why my cash was unavailable. I just transferred it but might not know if the transaction worked until 10 AM tomorrow. I still don't know why I couldn't use the last $0.05 of USDC when converting to BTC though.
Who wants to read bullish news???
https://www.zerohedge.com/markets/m...-accumulated-over-3-billion-bitcoin-15-months
Its not written in the above article, but I remember reading somewhere that everyone is waiting to see which country is the next to announce bitcoin adoption. Many speculate it could be Saudi Arabia or one of these oil producing nations.
And also, just as I was about to ask John what he was gonna do with his MSTR lottery ticket once it pays out big, he mentioned himself that he would buy bitcoin once he starts taking profits. I imagine lots of people are in leveraged plays, myself included given my small exposure to BITX, and all those profits are going to go right back into buying spot bitcoin, or at least the new ETFs which will have to buy on my behalf. So the higher price goes, the more that people will take profits from leveraged plays and drain even more supply.
https://www.zerohedge.com/markets/m...-accumulated-over-3-billion-bitcoin-15-months
Its not written in the above article, but I remember reading somewhere that everyone is waiting to see which country is the next to announce bitcoin adoption. Many speculate it could be Saudi Arabia or one of these oil producing nations.
And also, just as I was about to ask John what he was gonna do with his MSTR lottery ticket once it pays out big, he mentioned himself that he would buy bitcoin once he starts taking profits. I imagine lots of people are in leveraged plays, myself included given my small exposure to BITX, and all those profits are going to go right back into buying spot bitcoin, or at least the new ETFs which will have to buy on my behalf. So the higher price goes, the more that people will take profits from leveraged plays and drain even more supply.