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RE: Dealing With Slow Exchanges & Losing Thousands Of Dollars!

in #bitcoin7 years ago

Definitely happening to me too. If Bitcoin isn't faster than IBAN transfers, which look like it is the case at the moment, then they loose a lot of value. Particularly as a currency which gets any kind of daily practical use. Its been over 24 hrs since I sent some bitcoin from a bitpay wallet to kraken (to sell for some bcash and dash). Still 0 confirmations and Kraken requires 5 confirmations! It'll be next week before I have access to my bitcoin at this rate. Bitpay is also glitching and wont let me send the ramaining money in my wallet to exodus for trades. Not that exodous is trading bitcoin at the moment anyway.
I have to say while I am a crypto lover this is not good news. Banks suck but shity glitchy computer stuff also sucks. Sorry to the techies out there who have a more sophisticated analysis, but as a layperson this reminds me of when BOA wont let me use or access my money.
It seems like the cryto version of a run on the bank, and bitcoin cant handle it.
Fortunately the bitcoin cash I do have is transferring at lightning speed.
Also noticed exodus is down for Dash as well as bitcoin. I wonder if Dash also lacks capacity for high volume.
ANother part of the problem is bitcoin is still the major way of getting in and out of cryptos to fiat and if it remains slow it blocks/inconveniences the move out of fiat for people.
and of course as josh points out, loosing money every second of this bs. Like josh, I am eager to hear solutions.

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