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Coinbase is down for me. Gotta give it to BTC: it's a great store of value. You cannot sell it in panic, the technology is protecting you from your own psychol

by blfr 5y ago

Coinbase is down for me. Gotta give it to BTC: it's a great store of value. You cannot sell it in panic, the technology is protecting you from your own psychology.

deleted 5y ago
[deleted]
marban 5y ago
Just like 99% cocoa chocolate — built-in overeating protection.
- creshal 5y ago
  Long-term hodling of chocolate is still an unsolved problem in my experience. It tends to just disappear over time.
twox2 5y ago
Coinbase is not the only place to sell it though.
- lottin 5y ago
  They have all shut down.
djbebs 5y ago
Coinbase infrastrcture does not run on bitcoin
- papito 5y ago
  But does it run on BLOCKCHAIN.
deleted 5y ago
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deleted 5y ago
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dcolkitt 5y ago
> You cannot sell it in panic, the technology is protecting you from your own psychology. I know this is tongue-in-cheek, but I honestly believe this is the reason owner occupied housing is a more reliable form of middle class wealth accumulation than liquid financial assets. Most of our risk aversion is psychological, rather than economic. We really dislike seeing red numbers, even if our investment horizons make day-to-day swings largely irrelevant.
mcintyre1994 5y ago
Haha, Kraken is the one I use. They've just disabled their login button with no messaging, which I guess is one way to achieve the same while avoiding a mark on their uptime graph. If I remove the `disabled` attribute then clicking the button does nothing but I get a CORS error in the console.
- sidewndr46 5y ago
  I was skeptical of this, but I just confirmed that I can no longer login to Kraken either. I have no holdings there to speak of, so it is a non issue for me.
- jk7tarYZAQNpTQa 5y ago
  They're probably doing that to stop BTC from crashing even further. If BTC crashes, altcoins would probably follow (instead of taking BTC's position). Even if they don't follow, just BTC crashing would make exchanges lose the biggest chunk of their income. So shady business, but business as usual.
  - mcintyre1994 5y ago
    I agree, it's just a bit hilarious to imagine a normal stock market exchange trying to get away with things like that.
    - ryanlol 5y ago
      NYSE does the same when there are big drops. If there was a 20% intraday drop in SPY they’d halt trading for the rest of the day. https://en.wikipedia.org/wiki/Trading_curb https://en.wikipedia.org/wiki/Trading_curb
    - Infinitesimus 5y ago
      Circuit breakers exist to prevent wild swings on the stock market as well.
jeffbee 5y ago
Is it functionally different from "circuit breakers" on regulated exchanges?
rawtxapp 5y ago
Pretty much everything is down, eth decentralized exchanges are all clogged up too due to sky high gas fees. It's like a bank run.

by blfr 5y ago

Coinbase is down for me. Gotta give it to BTC: it's a great store of value. You cannot sell it in panic, the technology is protecting you from your own psychology.

deleted 5y ago

[deleted]

marban 5y ago

Just like 99% cocoa chocolate — built-in overeating protection.

creshal 5y ago
Long-term hodling of chocolate is still an unsolved problem in my experience. It tends to just disappear over time.

twox2 5y ago

Coinbase is not the only place to sell it though.

lottin 5y ago
They have all shut down.

djbebs 5y ago

Coinbase infrastrcture does not run on bitcoin

papito 5y ago
But does it run on BLOCKCHAIN.

deleted 5y ago

[deleted]

deleted 5y ago

[deleted]

dcolkitt 5y ago

> You cannot sell it in panic, the technology is protecting you from your own psychology. I know this is tongue-in-cheek, but I honestly believe this is the reason owner occupied housing is a more reliable form of middle class wealth accumulation than liquid financial assets. Most of our risk aversion is psychological, rather than economic. We really dislike seeing red numbers, even if our investment horizons make day-to-day swings largely irrelevant.

mcintyre1994 5y ago

Haha, Kraken is the one I use. They've just disabled their login button with no messaging, which I guess is one way to achieve the same while avoiding a mark on their uptime graph. If I remove the `disabled` attribute then clicking the button does nothing but I get a CORS error in the console.

sidewndr46 5y ago
I was skeptical of this, but I just confirmed that I can no longer login to Kraken either. I have no holdings there to speak of, so it is a non issue for me.
jk7tarYZAQNpTQa 5y ago
They're probably doing that to stop BTC from crashing even further. If BTC crashes, altcoins would probably follow (instead of taking BTC's position). Even if they don't follow, just BTC crashing would make exchanges lose the biggest chunk of their income. So shady business, but business as usual.
- mcintyre1994 5y ago
  I agree, it's just a bit hilarious to imagine a normal stock market exchange trying to get away with things like that.
  - ryanlol 5y ago
    NYSE does the same when there are big drops. If there was a 20% intraday drop in SPY they’d halt trading for the rest of the day. https://en.wikipedia.org/wiki/Trading_curb https://en.wikipedia.org/wiki/Trading_curb
  - Infinitesimus 5y ago
    Circuit breakers exist to prevent wild swings on the stock market as well.

jeffbee 5y ago

Is it functionally different from "circuit breakers" on regulated exchanges?

rawtxapp 5y ago

Pretty much everything is down, eth decentralized exchanges are all clogged up too due to sky high gas fees. It's like a bank run.