Coinbase Grips Bitcoins for 24 Hours | dinbits


Try sending any bitcoin from Coinbase over the weekend? You are likely still waiting for it. Coinbase posted an announcement on their status website saying there are delays due to processing high volumes. Then they say exactly how long. 12+ hours and note that + sign because they mean it.

You know how it goes, you're sending some friendly bitcoin over to your spending wallet from Coinbase having just purchased a fresh batch. You're eager for it while it still has that new bitcoin smell. You pony up and shoot it over only to see "Pending" when you check back after a few minutes.

Of course you've already sent this. You're committed now. Thus, you look and see if there are any issues when you see it. 

DELAY!

Specifically:

Bitcoin Transaction Delays

We're currently working through a backlog of Bitcoin withdrawals. Recent or new outbound BTC transactions may remain pending longer than expected

WTF?? This is information you could have used BEFORE you sent the coin. 

Also, WTF? 12+ hours, I mean what the hell are they doing? Counting every Satoshi they ever sold? Sending each transaction 1 by 1 in it's own block? Perhaps they are adding up the cost and amount for their round X funding.

Who knows, but 12+ is just ridiculous because guess what, that just to BROADCAST the transaction. You still may wait another 10 hours for the blockchain to decide to do its thing on top of that. 

We send a transaction at approximately 6PM yesterday, another at 7PM, and a 3rd around 3AM. In about 6 hours the 7PM launch had arrived. No sign of 6PM, no sign of 3AM. So clearly there is absolutely no order in which these things are going out. 

Coinbase now has a big sign hanging above the send button:


Yeah "may be delayed" ... trust me, don't make any fucking plans.





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