Slashdot Mirror
Bitcoin Tumbles From Record High After Exchanges Confirm Outage
Fearful of missing out on the frenzy in the Bitcoin world, several people were left disappointed on Wednesday noon after they were unable to buy some cryptocurrency because the websites of Coinbase and Gemini, two of the largest online exchanges for Bitcoin trading in the United States, were either down or taking too long to load, they said. In a statement, Coinbase said it was facing issues handling the overwhelming traffic it has been receiving on its website. Bitcoin surged past $11,000, the highest it has ever been, early Wednesday, though it has since taken a tumble as well, going as low as $9,290.30. Gemini said in a tweet it had resolved the performance issues, though some users continue to report delays on the website. Bitcoin's professional trading platform GDAX and exchanges Kraken and Bitstamp were also facing issues on Wednesday. The issues had been addressed, they said.
When it naturally takes 7 or more minutes just to confirm transactions (depending on how entrenched in the blockchain you want the transactions to be before you consider them to be "confirmed"), how can delays be seen as being "outages"? Long delays considered totally unreasonable for credit cards and other mediums of exchange are perfectly normal for Bitcoin.
Why is there no source article for this "story." What the fuck, Slashdot. That's not how this works. That's not how any of this works.
- In Soviet Korea, only old people loose all their bases to Natalie Portman's petrified hot grits overlords.
Oh noes, it's still worth more than a week ago! Let's all panic!
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Sorry dude, it's way past the point it was profitable to use computer downtime for it. At this point, the ammount you'd get from it wouldn't pay the extra electricity cost, much less wear and tear of hardware.
Years ago, even before the value reached 2000 bucks, it was already only profitable for chinese farms running extremely barebones on junk parts inside warehouses using stolen electricity. You can imagine how it is now.
Well, unless you go for something other than Bitcoin I guess. Plenty hard to choose what will be the next successful blockchain currency though, there are just too many out there.