Coinbase Delays BTC Withdrawals, Multibit HD Dies, BTC-E Ethereum Funds Move

in bitcoin •  2 years ago 

Just 3 short yet important news for today.

Coinbase BTC Withdrawal Issues


Since they said they will not support BCC/BCH (Bitcoin Cash) people try to take out money from their website. Seems company wants to stop them as much as they can, users claim to have over 10h of waiting to get funds.

If you want to have your BCC save request withdrawals ASAP.

Multibit HD Wont Be Updated


I wrote some time ago how ive saved user of MHD here on Steemit, now seems they officialy decided to drop this wallet due to bugs and headaches. Move funds if you use them.

BTC-E Ethereum Hot Wallet Moving


Whole wallet with millions of dollars was cleared into smaller wallets. We will see if its Feds or BTC-E moving coins to restart exchange.

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Something fishy going on on BTC-E. I would bet that they finished.

This is the reason why I've been using bitshares, the fastest (1.5 sec. average transaction) and safest (with collateral that controls the blockchain) decentralized exchange https://bitshares.org

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Same

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What is bitshares? Is it an exchange?

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Yes, but controlled from the blockchain, it is DECENTRALIZED

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It's just me or the Bitshares platform looks extremely complicated? At least comparing with Exodus....

This is the reason why I've been using Bisq, the decentralized exchange that sits on your desktop. I wrote my experience and a guide on how to use it on my steemit post: https://steemit.com/decentralizedexchange/@kryptonizer/how-to-buy-sell-any-crypto-and-fiat-currency-on-a-true-decentralized-exchange

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Check @kryptonizers post out. This makes a lot of sense and should be supported

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I think decentralized exchanges are indeed, the future. More and more adjustments will be made.

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Oooh. Does Bitshares accept SBD? I haven't hit my first seven days yet but I'd like the option of more than just BlockTrades.

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Very good idea, its always great to have more and better options-thanks

It was a nightmare, but I got my BTC out of Coinbase. Gave up and went to bed last night 17 hours and no confirmations. Woke up this morning and it was in my Trezor wallet thank goodness...

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Coinbase is so bad in so many ways...

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  ·  2 years ago (edited)

Back on July 27, 2017, it took about 3 hrs for the transaction to appear on the Bitcoin blockchain. So you just have to be patient. If it doesn't show up after 6+ hrs, then I'd be concerned.

Hopefully, Segwit helps to alleviate this type of network congestion. And then the 2 MB block increase in Nov should improve the transaction flow even more.

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I'll sell you segwit coins for Bitcoin Cash coins

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My friend has been waiting 18 hours. I helped someone else 8 hours ago and still pending. Safe to say it's time to be concerned.

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Just transferred from Coinbase to Copay mobile wallet. Took me 22.5 hours to move my BTC. Not exactly confidence inspiring to say the least!

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If I sold my truck for $9000 us dollars 💵 or 3.36 bitcoin would it take 6 hours to process the transaction? What if I meet a guy on the street and he had enough bitcoin, how long would that take? I need to set up Walet . @briandenver

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  ·  2 years ago (edited)

then you ask for Dash not Bitcoin and it would take minutes :) or better yet steem

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Thanks for the great reply I @briandenver will read your comments and articles then make my own comments about the other information that others have left. Up vote and follow thanks.

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It didn't seem to matter (last night) which wallet I was transferring BTC from/to. It was oddly slow. The usual excuse of "the network is saturated" doesn't fly, though, because numerous blocks were far smaller than the typical "999827 bytes" (within a stone's throw of the 1MB maximum). If the miners were working non-stop full-tilt, then why were a sizable fraction of the blocks only 400k-600k? That implies that the mempool wasn't "full" (with backlogged transactions). Why else would a miner NOT pack more transactions into a block they're working? This was not limited to Coinbase. I had the same delays transferring from my Android wallet to Kraken, and from Coinomi wallet to Electrum.

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Is this part of the reason why bitcoin value has been so volatile over the past week or two? I know people in Argentina and other South American countries are converting their wealth into bit coin to avoid the horrible effects of hyperinflation by their governments Fiat currency. Has this ever happened before? I can't imagine that coinbase Will have a very loyal customer base. @briandenver I have been thinking about buying bit coin but don't know which exchange to trust.

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scotty_bcch?
scotty_ETH_HMU

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Are you referring to Bitcoin Cash? It didn't come out of nowhere - people have been asking for bigger blocks for years.

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  ·  2 years ago (edited)

Glad to hear that. I love Trezor for the support they're giving BTC throughout this.

I wonder why Coinbase has taken the action they have. I would have thought they'd support both BTC and BCC and let the market decide which one was going to be dominant.

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Probably so they don't have to make any code changes lol.

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Yeah, but now they have an excuse to steal millions of dollars.

Nightmare with Coinbase. Good luck to those of you still trying to pull your BTC out.

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When they announced they wouldn't support the fork I tried to pull some coin out, I couldn't. E-mailed support, never heard back. It's been almost a week. Today I tried to help someone else transfer their coins out, that was over 8 hours ago and the transaction is still pending. I used to recommend Coinbase, not anymore. They have a lot of work to do to make this mess right.

Idiots. That's how you cause a run on your exchange. The short-sighted greed of exchanges never ceases to amaze me. They could one day have a $100 billion business but many cheat and lie for the sake of a few hundred thousand.

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This could easily be a war between the exchanges. Or should we all them exchangERs?
If these Bitcoin-Cash proponents are not making duplicates of their BTC for internal trading, they have nothing to lose and everything to gain by exposing the exchanges and wallets that are fractionally reserved.

Sure.

The "big day" is fast approaching and the systems are changing. I moved all I had out of Multibit a few months back and now solely use Exodus. Would actually like to hear your thoughts on that particular wallet.

Love your updates, brother. Thank you for everything.

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Its great but it wont allow BCC split, i suggest Ethereum for this occasion since you have private keys access

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  ·  2 years ago (edited)

I was a little concerned about that issue but most of my holdings are in Ethereum anyways. Still, may have to do just that and exchange all to Eth until the dust settles. Thanks for the advice, man. :)

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I'm McLovin Exodus wallet, just on a usage basis. I can't say it's given me any issues. I like that I can exchange "within" the wallet, and they don't use Changelly.
I'm satisfied.

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Totally agreed.

I just posted about coinbase and how it's the worst wallet/exchange out there. Love the article tho

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yeah they always go down when theres some action

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polo has to be a close second though. I made the comparison of the two of them being the comcast and time warner of crypto

It is unacceptable that an exchange would prevent you access to your forked coins. This is as if you are holding the stock of a company that is about to undergo a 2:1 split, but you only get one share and your broker gets the other.

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The did mention that if bitcoin bash survives they won't keep it for themselves: https://twitter.com/coinbase/status/890986442674941953

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That is good news, but there are still other exchanges like cryptopia that will not provide users with their BCC.

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coinbase Coinbase tweeted @ 28 Jul 2017 - 17:24 UTC

Update for customers asking if Coinbase is keeping their bitcoin cash (BCC) https://t.co/gamiKDTVmx

Disclaimer: I am just a bot trying to be helpful.

I was also having very stressful problems with MultiBit myself. It was the first light wallet I had ever used and recently when trying to move my coins out, I would get an incorrect password error (I was 100% certain my password was correct). Google search showed that others had the same problem and that errors would be fixed in an upcoming patch. The patch never came. It looks like the bugs were too much for their developers. Fortunately I was able to get the coins back by inputting my wallet words into a bread wallet.

it looks to me like coinbase is trying to make some $$ on this - it will keep your BTC but d not give you BCC

This is a reason I'm out of Coinbase - for good

What's Coinbase going to do with all that Bitcoin Cash? Seems like a liability to not give it to customers, even if you told them to move it.

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If Bitcoin Cash succeeds, they're either going to have to change their stance, or face a class-action lawsuit.

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  ·  2 years ago (edited)

I pose that same question with some possible "forks". Some better than others ... let's see what Coinbase does !

https://steemit.com/bitcoin/@nanonerd/coinbase-where-does-all-the-bcc-go

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meep

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Told them to move it then didn't let some people move it. It's going to get ugly when the class action lawsuits start. Would have been so much better for them to support it. Now they've alienated a lot of users and will likely get sued.

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That's a great question. You may be on to something here. Free BCC for the Coinbase admins?

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scotty_bcch?
scotty_ETH_HMU

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scotty is spamming this same picture all across various posts.

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Would it be a liability if they didn't bother to get the Bitcoin Cash? Not even setting up the wallet and just ignoring it?

this blows

Thanks for the news!

I am glad I got my funds out of coinbase last week.

there is big chance of btc-e to just scam people sadly because of arrests;(

These apps and sites are easy to read, something crazy spikes, DOWN, something crazy dips, DOWN, too much traffic, DOWN.

Had a few LTC "get lost" in coinbase, and entire ETH "pending" in poloniex for 4 weeks. Insane, these guys put way too much on the line with a shitty backend system.

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Yeah ive quit polo months ago and never looked back

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What's your preferred exchange?

I've already transferred my bitcoin into steemit. All this talk about the hardfork has me scared that the whole crypto system is falling apart. Hopefully they will make a successful transition to the new bitcoin!

Major Companies (CoinBase, GenesisMining...) Are Holding People's BTC Maybe They Are Intending To Profit From The Upcoming HardFork ?

Why people want to withdraw, a lot are saying that BCC is trash, I think if you wait after august first you can withdraw you money from coinbase, I think they just want to save peoples money, why to panic !

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Save peoples money? By not letting people withdraw they are stealing peoples money.

I hate coinbase, always so slow.

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What other exchange are you using that is "fast"?

A good decision not to use there web wallet. I stick to blockchain.info wallet. No problem.

Seems coinbase does not offer any freedom to its customers, its crazy, i followed and upvote for your updates thanks for sharing

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Nice Article! Worried about your Bitcoins and where to store them? How to get free Bitcoin Cash? Come check out my blog!

Watching it out.

Fuck coinbase

I have a feeling that Coinbase is run by the Government.

Going to be interesting on whats goong to happend on tuesday. Good post thanks for that.

It's not even working sometimes. Coinbase is going to give up on Bitcoin from August 1st. Bad news :-(

coinbase.JPG

Panico y locura es lo que viene.

I have been waiting nearly 20 hours now...i will not use them again in the future

Why does anyone even use Coinbase? I haven't heard anything good about them.

Well you have to make the best plays these days that are waiting for us

thanks for info

i recently notice many of the e-wallet company has an issue regarding to redrawals of there costumers. wish this will fix soon so that it will never happen again.

Get into alt coins ! They will follow btc to the moon

Shout out to bittrex for supporting bcc!

I am not shocked by Coinbase having “issues.” Why they have not been sued into the ground yet for being so dang dishonest, and unethical is beside me these days. People need vote with their wallet and stop using them.

I withdrew funds Thursday night and it took about 3 hours have the transfer to my wallet work. It wasn't the blockchain that was backed up though, when I transferred from my wallet to an exchange that will support BCH it was compete in about 20 minutes.

I know that Coinbase has a complicated system of offline cold wallets to dramatically reduce their exposure if a hack ever occurred. I imagine this rush on their deposits has kept them busy moving funds around to satisfy demand.

It's inconvenient but I don't see it as a bad thing or deliberate policy to prevent withdrawals. I believe they are deliberately trying not to encourage BCH usage and hope it goes away, that is their decision I'm ambivalent to. I imagine they didn't quite anticipate the demand to withdraw BTC it would cause. I think they should have been more on the ball with alerting customers as soon as the fork was know about.

got my bitcoin out of Coinbase. Took several hours to show up on bittrex and bitfinex. Supposedly they both will issue BCC coins on 1:1 ratio. Upvoted.

No surprise . They may be the first in a long chain coming .

oooooooooo !
I am so glad I have a Ledger cold storage wallet throughout all of this :) @kingscrown

Some bitcoin players in my area are getting restless.
Due to the growing issues.
Some of them are starting to get sick.
When they see the news about bitcoin world.
But i stick to the establishment, i will still play bitcoin as usual.
Irrespective of issues that are not clear from their origins.
Which is important we still have to be sure that bitcoin will go to a higher level.
Do not be easily influenced by issues spread by irresponsible people.

at least BTC price is holding like a champ, not for the right reasons but still, nice to see !

Helpful post and many many thanks for those info

RIP Multibit!

My favourite daily rundown, keep it up @kingscrown!

Lot of similar things will happen. I am worried this may also lead to lot of frauds or xchange closures and running away with the cryptocurrency.

@kingscrown

Good

I do not like any of these exchanges, but I especially have grown to dislike gdax and poloniex. Coinbase did the same thing with ethereum / ethereum classic split.

Followed all in this thread upvoted and Resteemed!

Thanks for sharing this info, very helpful indeed, upped. I will take action accordingly.

Ohh ... That's incredible

my payout took 6 Hours

Is Coinbase trying to make some money like that? Good post! :)

From my side it's been 2 days that my BTC are blocked on Coinbase !! I'm too annoyed never again mavie I will buy a few chosen at home! They are thieves I have always received at the time I speak, but I had an answer (miracle ...) and it was decided by the day.

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Thanks for the info @kingscrown !

Nice, good job, I very up

I love Bitcoins!
thanks for sharing @kingscrown

Cold storage is the best option and will prove to be the best steps to keeping crypto safe.

This post received a 4.7% upvote from @randowhale thanks to @kingscrown! For more information, click here!

great one

Thanks for Info @kingscrown

no biggie

Do not business now in BTC due to this digital currency getting time till 2nd of August by international owner of BTC

Congratulations @kingscrown!
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Am using coinbase wallet, hope my bitcoin is safe? Please follow me back @abraham01 thanks

Am using coinbase wallet, hope my bitcoin is safe? Please follow me back @abraham01 thanks

Been waiting 18 hours for coinbase withdrawl now..still pending

I really think we need decentralized exchanges and there are lots of users which are interested to have one.

Coinbase have made its choice which may not favor alot of its users! Its now left for users to learn from it and move their cash out to hard wallets where you have your keys by yourself! Come to think of it Bitcoin cash (BCC) and Bitconnect (BCC) who owns and wins the name? This seems to be a bit camp of name who wins the name?

Nice

Anything you like to comment

waiting to see what really happens. Thanks for sharing @kingscrown

I am glad that I don't use any of these services :)
the problem is that you never know which one is the next with problems :/

And that is why i left coinbase

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nice article -- I can imagine some many people trying to get there BTC out of coinbase.. wow

Let's hope BTC-E start exchanging again but we will just have to wait and see.
August the 1st is coming up and coinbase and other sites loosing so much money they may start freezing BTC transactions earlier so get it out quickly if you are planning to
Thanks for the informative post @kingscrown

Heard a lot of this lately...

There is a possibility now, anytime mow coinbase to claim have been hack or shutdown its service, just a wild opinion. Who knows😆

Coinbase dorks!! Thanks for the post mate!

Now been waiting over 25 hours and still no sign of my withdrawal.

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27 hours but they arrived at last,

I just began but I prefer to use Bitshare

All are pending August 1, what will happen with bitcoin, hopefully positive things.