Coinbase goes down for the second time this month with Bitcoin price volatility

[BrolySSJ 7899]

Earlier this month i created a topic that highlighted the reason as to coinbase going down. The link to this article is as follows:

When this initial problem happened it was promised by Coinbase that they would look into it so that there is no more future outages of this nature due to high traffic demands. However, it seems that this was not met, as there was another outage on Coinbase, spanning over both its website as well as its mobile application. Once again, the outage was caused by the same problem that caused the first one, an that is the recent surge in the number of transactions. 

 

However, this could be due to the AWS cloud provider, as there are other sites that are also experiencing issues of a similar nature. Nevertheless, this once again brings in the question of is coinbase reliable to use as a wallet and exchange platform? Whilst there are many that use it and rely on it, as we have seen recently the price of bitcoin dropped drastically in a matter of hours, and therefore if there are cases where exchanges and wallets go down for lengthy periods during this time, this could mean not being able to sell your crypto before the price drop, or not even being able to buy at the lower price, inevitably causing losses. 

 

Perhaps people will start to move away from coinbase in the future if such occurrences persist. I think it is in the best interest of coinbase at the moment to focus on rectifying this problem, to make sure that it never happens again. 

 

 

[Froshk 1828]

21 hours ago, BrolySSJ said:

Perhaps people will start to move away from coinbase in the future if such occurrences persist. I think it is in the best interest of coinbase at the moment to focus on rectifying this problem, to make sure that it never happens again. 

@BrolySSJthanks for the update!!! 

These is a fact, the moment a company begins to loose its reputation and they aren't doing anything concrete about it, prospective or even existing members will must likely move away from such company. 

[Mehar446 280]

This is not unexpected as this happens with a lot of business in the days when they have a lot of customers visiting them even with the physical stores. The most common example is ecommerce sites on Black Friday & cyber Monday. But getting down for second time is not good for such a big player who is struggling to make a monopoly.

[tienda 8776]

@BrolySSJ Yes Bitcoin price volatility destroying big companies like Coinbase. I think all website exchange platform are suffered the market Bitcoin price decrease. The problem of Bitcoin price is when going up, increase with high value and big volume and then when down, decrease with the lowest value and big value. So the website exchange always with difficult to manage their platforms.

[Syedbesharat 5423]

From massive transactions at exchange going down for well know exchange is worrisome where the users have to face difficulties and they cannot trade kr withdraw their coins. Their for always place coins at different exchanges even you are using top exchanges but after seeing the down fall twice of top exchange I made up my mid to not place bulk amount of coins at one place .This will help in future and give chance to avail the give opportunity of market. 

[Teminali69 1081]

For a big exchange like coinbase it is such a shame especially with the fact that it is happening for the second time. Developers should have foreseen this.

[Abdul1168782 572]

Yes you are right at this topic and for high flectuation  this issue rises amd by this we can't make transactions and can't by and sell our coins and not to exchange our coins.

[Zeshan Khalid 2577]

Bitcoin price don't depend upon the exchange you are using. So it's not only on coinbase. The price of bitcoin have decreased on every exchange. You can check other exchanges as well.

[Razan alikac 1899]

Bitcoin volatility was very volatile, rising to 19500, then suddenly dropping very strongly to 16,000 and back up to 18,000.
  It violated expectations as everyone was waiting to touch the 20000, but it has to rise again
 Expected after breaking 20 thousand
 It reaches 35 thousand and is possible more within a year

[betelihem 4766]

On 11/27/2020 at 10:56 AM, BrolySSJ said:

Earlier this month i created a topic that highlighted the reason as to coinbase going down. The link to this article is as follows:

When this initial problem happened it was promised by Coinbase that they would look into it so that there is no more future outages of this nature due to high traffic demands. However, it seems that this was not met, as there was another outage on Coinbase, spanning over both its website as well as its mobile application. Once again, the outage was caused by the same problem that caused the first one, an that is the recent surge in the number of transactions. 

 

However, this could be due to the AWS cloud provider, as there are other sites that are also experiencing issues of a similar nature. Nevertheless, this once again brings in the question of is coinbase reliable to use as a wallet and exchange platform? Whilst there are many that use it and rely on it, as we have seen recently the price of bitcoin dropped drastically in a matter of hours, and therefore if there are cases where exchanges and wallets go down for lengthy periods during this time, this could mean not being able to sell your crypto before the price drop, or not even being able to buy at the lower price, inevitably causing losses. 

 

Perhaps people will start to move away from coinbase in the future if such occurrences persist. I think it is in the best interest of coinbase at the moment to focus on rectifying this problem, to make sure that it never happens again. 

 

 

Coinbase is my favorite wallet since i start to use cryptocurrency and i have been holding my coins on coinbase since i  begin investing on cryptos, but till now i never faced any problems,  yeah maybe that's because i am from another country which i can't use trading option, but still i am holding my coin with it,

[Smallingcane012 344]

The bitcon goes dawn for the second time in my view is as the result of corona virus pandemic that is why it goes dawn for the second time.

[Upright 2688]

The coinbase is the one of the most and used server when it comes in having to provide Price analysis in the world Crypto markets. But with this outages which they experience can't really expose them in having to lose trust in them,but even though this type of incidents can actually be that costly on the parts of active traders

[Brandonsaw 1973]

If coinbase is not the only one that falls when bitcoin rises in price and the worst thing is that other cryptocurrencies fall in price the same, it is terrible when bitcoin rises in price because the other cryptocurrencies begin to fall in price, that is why I recommend changing their tokens to  bitcoin when it has its rise and then change them for another cryptocurrency so that it does not affect our money.

[mahdititus16 216]

i think you are right sister but i can explain mmore than that just read my comment to understand it 

Bitcoin price don't depend upon the exchange you are using. So it's not only on coinbase. The price of bitcoin have decreased on every exchange. You can check other exchanges as well.

so that all i have about your question so good luck for every one , 

[pablomarwan 3082]

Upon acknowledgment that the coinbase platform has gone bankrupt, it is working with all its energies in order not to repeat the matter again. And this platform is a well-known and large platform that establishes several branches for stability. If she stops working now, it will be considered an insult to her and leave the competition to other platforms. That is why I say that it will fix the matter, and since it has started to be interrupted due to the number of transactions, this indicates that it is attracting a large number of clients than usual.

[Amiami 1362]

It is definitely something that coinbase must improve, the servers they use are not the best when it comes to processing the amount of information it receives when the bullish or bearish candles start, I cannot imagine the helplessness that some must feel when they cannot move or sell the funds.

[cryptovlek 2597]

Something that is happening very often in Coinbase and other exchanges when there is high volatility something happens and they go offline. Most of the big exchanges probably stop trading this way as too much volatility is not wanted by them. I don't think it has to do with infrastructure but it is deliberate.

[Abdulrahman3 1252]

Do not be surprised by this, my friend, as it is a profitable company whose first and last goal is to obtain more clients, and then do not fulfill their promises and provide bad services, not all companies respect themselves.

[annayks 2314]

This is the usual Coinbase, it does that during market volatility and it will not stop as it is build this way. Similar problems have many exchanges that suddenly will go down after high increase or decrease in price. Usually in increase though as they want their clients to sell after price has dropped too much.

[Fox II 184]

I think the main think to fall down of price is the year change.We all knows what is economical growth in this year in whole world.I think in 2021 the price will again in there own growth and people who were gathering there money they will benefited in this year. 

[SuperCrypto 7193]

In fact, all platforms suffer from some problems sometimes, about ten days ago, Binance stopped for several hours during the frenzy of prices, which led to problems for many users, a few months ago there was a problem in the exchange of Yobit that led to the suspension of the platform temporarily also, these things happen But we are talking here about the largest exchange platforms, and it cannot be judged from simple situations that occur in the internet world.

[Edwinvicky 819]

It is usual of them, it is their way of calming rush sales to avoid too many transactions from users. they always do this almost every time btc price goes high. It might be due to too many transactions that result the network break. I think many exchanges too experiences such rush when ever a coin goes high in price, either the wallet is in maintenance mode or transaction not processing or the site down.

[Samotokika 1780]

On 11/27/2020 at 12:56 PM, BrolySSJ said:

Earlier this month i created a topic that highlighted the reason as to coinbase going down. The link to this article is as follows:

When this initial problem happened it was promised by Coinbase that they would look into it so that there is no more future outages of this nature due to high traffic demands. However, it seems that this was not met, as there was another outage on Coinbase, spanning over both its website as well as its mobile application. Once again, the outage was caused by the same problem that caused the first one, an that is the recent surge in the number of transactions. 

 

However, this could be due to the AWS cloud provider, as there are other sites that are also experiencing issues of a similar nature. Nevertheless, this once again brings in the question of is coinbase reliable to use as a wallet and exchange platform? Whilst there are many that use it and rely on it, as we have seen recently the price of bitcoin dropped drastically in a matter of hours, and therefore if there are cases where exchanges and wallets go down for lengthy periods during this time, this could mean not being able to sell your crypto before the price drop, or not even being able to buy at the lower price, inevitably causing losses. 

 

Perhaps people will start to move away from coinbase in the future if such occurrences persist. I think it is in the best interest of coinbase at the moment to focus on rectifying this problem, to make sure that it never happens again. 

 

 

Thank you for sharing information and updation.as the end of 2020 has shown a great rise in the price of Bitcoin and also now the Bitcoin price is becoming higher so it is a good thing.

[percare 3192]

Coinbase some times have millions of people trying to trade together. Perhaps it is difficult to test for this kind of traffic as it will require millions of incoming connections asked for the Coinbase servers and all trading together during volatility brings the exchange down. I have seen same difficulties in many online exchanges when there is high traffic.

[Serbberq 724]

That actually  happen in most exchanger and due to the market volatility the prices dumps and even stops some sites from trading which after some period of time everything  will be back to normal.