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Hope you know Coinbase is only 8% of the total Bitcoin volume each day. https://coinmarketcap.com/currencies/bitcoin/#markets https://coinmarketcap.com/currenc

• ceejayoz 9y ago
  A run on one bank frequently has knock-on effects on other banks.
  • tome 9y ago
    Right, "only 8%" is rather a lot.
    • igorgue 9y ago
      You guys really don't have experience in the space huh? Bunch of douchebags in this forums that like to talk like they know what they're saying :D
      • sctb 9y ago
        Please read the guidelines and then start commenting civilly and substantively. We ban accounts that won't. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
  • Beejeepa 9y ago
    Bank runs are bad when there isn't a full reserve. Coinbase says it has 100% reserves. Bank runs are how fraudulent exchanges are caught: Bitcoin is self-auditing, and either you have it or you don't, there aren't IOUs or paper receipts. Fractional reserve banking is a prisoner's dilemma, we all marginally benefit from the status quo of credit/debit/interest, but in a crisis, the first people to pull out win, and everyone else loses.
    • thedragonslayer 9y ago
      What if Coinbase is the one buying large amounts of bitcoin? Then using reserves so they can buy/sell on both sides. See where it gets risky?
    • rbobby 9y ago
      I wonder how quickly CoinBase could release funds from cold wallet(s)? Could be hours... which could pretty bad.
• thedragonslayer 9y ago
  Yes but what is the % of withdrawls? I know most U.S. members transfer from the exchanges over to Coinbase to withdrawl so they need them eventually