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FWIW I moved ~80 BTC out of Coinbase almost instantly yesterday. It's not unreasonable to expect some delays accessing their cold storage (which is key split a
by btcthrowawayy 9y ago
FWIW I moved ~80 BTC out of Coinbase almost instantly yesterday.
It's not unreasonable to expect some delays accessing their cold storage (which is key split across geographically disparate safe deposit boxes, last I heard)
That said, I was around during Mt. Gox's failure (fortunately didn't lose anything then) so I get a little skittish when I hear about a wallet/exchange experiencing withdrawal delays...
- mikekchar 9y agoI'm curious. If you were around during Mt. Gox's failure, why on earth are you holding ~80 BTC in somebody else's wallet? That seems kind of crazy, so I wonder if there is an advantage that I'm missing...
- deleted 9y ago[deleted]
- btcthrowawayy 9y agoGood question. It's a combination of things. First of all, I've always trusted Coinbase a lot more than most other Bitcoin services. They're a US company, a YC company, I've met the founders, I know some of the employees, they at least appear to be very serious about security, etc. Second, those 80 BTC are not all of my Bitcoin. I don't completely trust myself to securely store Bitcoin, so I like having some diversification of risk. But yes, some of it comes down to laziness. I should probably figure out a better way diversify the risk without needing to trust a 3rd party.