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RE: A Broken Link in the Chain, Cashing out- My experience

in #bitcoin7 years ago

This is a good anecdotal story; please follow up with whether you ever get your hands back onto your $200 from Coinbase-- interested.

Coinbase may not even be the source of your problem, the problem is mostly related to bitcoin itself. You see, bitcoin now has VERY high "mining fees" for transactions, on the order of anywhere from $10 to $50 lately-- PER TRANSACTION. Not sure how it works, but if you didn't put up a big mining fee to attract miners, your transaction sits in a que which can last weeks (or longer?). It's actually kinda out of Coinbase's hands if it's a mining-fee problem. The mining fee is also why "wix" recommended you use Bitcoin Cash instead of Bitcoin, less mining fees, less time for transactions to post in the blockchain. We also rec you use BCH or LTC or ETH-- almost anything other than BTC unless you're moving a much much larger amount, like at LEAST a full bitcoin (~$15,000).

Hope that helps.

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Great answer....one that should be part of the coinbase response. There are some pitfalls to overcome in an industry that is straining for resources.

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