Bitcoin Forum

I’ve come across this news:

https://cointelegraph.com/news/bitcoin-exchange-coinbase-adds-100000-users-in-24-hrs-shows-surging-interest-in-crypto

At first, I couldn’t believe it, 100.000 new users are a lot of users. The article says it is due to CME announcement but what I think as a result of it is that it is just the beginning of the next push. Unless some major unexpected event happens, we are on a bull market for a while.

It's great news that people are interested in Bitcoin. But it's horrible news that they use Coinbase to exchange it.
I don't know what impression Coinbase's issues and terrible customer support will give to these new users but I can guess that it won't be very good.

It's especially a bad time to start Bitcoin adventures with Coinbase with the upcoming fork and all.

That is incredible - not many companies can boasts about those figures.

isn't that because of the futures announcement? i'm not sure though.

This is good news for the crypto, 100,000 users in 24 hours is amazing. Let’s hope trading of Bitcoin Futures will be approved, it will bring more users to crypto.

Then the increases is legit with one of theses reason, more user, more investors and  more demands means bitcoin price increase and more bitcoin on hold. 10000 is a big number of account for a day then maybe Coinbase done a good job on marketing itself and most of this users/members might be from the American states as Coinbase is licensed there.

100,000 new coinbase user thats crazy! bad thing is that they register in an exchange with so many bad feedback from their recent users. Anyway that is a good sign for bitcoin because so many people starting to believe in crypto currency now = more new investors. For sure the bitcoin price will still continue to pump until the end of the year.

Also important is that we're trying to measure BTC's support and justify the price by the number of people that sign up to exchanges, rather than by actual merchant support or other more useful metrics.

All it shows is the amount of hype, which is building up because we're most likely quite deep inside a bubble.  While this hype continues to build up, there will be a lot of new users and people who scramble to get in.
Why?  How does an increase in buyers affect the number of buyers in the future?

I don’t understand very well why you are asking that after quoting me. I am saying that we are in a bull market because we already are. And I am also saying that we will be on a bull market (unless some major unexpected event happens, like if we have something similar to the Mt. Gox case) because news like this point to it. Those 100.000 new users won’t have already bought bitcoins yet. In fact, I’ve got a Coinbase account and I haven’t put any money in that exchange. However, many of new users will. Also, I think it is likely that customer base of Coinbase will keep growing as price of bitcoins and cap of total crypto market keeps going up.

It's Great!! More people comes and and became interested in blockchain technology It may also be the investors, and certainly can make bitcoin prices increasing to the moon  ;D.

100,000 new users in a single day is insane..

If this really represents the next influx of new users, we are in for some intense price growths as these people scramble to get into bitcoin.

is it 100.000 or 100,000?  ??? If it is a 100K definitely it is a crazy sum of registration for coinbase. Personally I like coinbase because it is simple and user friendly. But of course there are still bugs around that needs improvement on.

It's great and amazing and actually i glad hear people are interested in bitcoin. But it's a bit horrible for me that they use coinbase to exchange it, idk what impressiom coinbase's issues and terrible customer support it's especially a bad time to start adventure with coinbase.

Looks like more new bitcoin users are interested in the popularity of cryptocurrency especially bitcoin This is a good news for all of us the more users means more stable bitcoin ecosystem.

It's probably one user - Amazon, Obama, Soros or the like. :)

Interestingly, this is the arrival of users who are new to the crypto-currency area, just interested in people that are in search of a good earning. Or is it already experienced and experienced by investment and trading people? ???

There is so much positive publicity around bitcoin lately and that just leads to lots of new people arriving due to FOMO, it's actually in some ways a bad thing because often they don't know really anything about bitcoin or understand its volatile nature and so they're the ones that lead to the price crashing when there is a first negative sign.

Really good news for Bitcoin that more people are looking into investing.

This is actually good but such a number within 24 hours is really something else, I am sure that the skyrocketing prices has got some people really interested in bitcoins now and they are all willing and ready to join the bandwagon at this juncture.

the CME news was indeed huge and unexpected. it even caused this big price rise from $4xxx range up to $7000 and the first $1000 was the insiders who bought bitcoin, and by that time i was wondering where the hell this demand was coming from. now i know.

of course there is always the fact that Coinbase can lie, and it is more of an advertisement it may be close to that number but not quite. simply making the headlines is a big advertisement which will push them towards it!

Blockchain.info wallet is following the same path. They got a little less than 1 million wallets created within 1 month, with over 18 million wallets now. I think Bitcoin is getting massively adopted and used which can also explain the Bitcoin's value increasing at a high speed. It could be interesting to see some others wallet providers giving some data about this trend just to give a better idea.

It's impossible to say for outsiders like we are, but I am fairly sure that the more experienced people will go with a dedicated wallet client rather than an online wallet service. But in the end it doesn't really matter for me.

I am happy that more people are slowly but surely finding their way to this market. More people means that in general, more people end up holding a certain number of Bitcoins, and thus spread out everything in a better way.

If they eventually start converting even a small percentage of their savings into Bitcoin, it will have an ever bigger long term impact on this market. I expect this growth to continue to swell further in the coming years.

Actually a good thing that more people are interested in bitcoin. CMEs announcement did actually grab a lot of investors attention, which shows that the more institution/organizations start accepting bitcoin, the more people will get to know about it and start adopting bitcoin. Would say this is just the beginning.

Maybe that is the reason it is not working properly, I am also one of those 100,000 people. But all I can see for now is a blank dashboard. Nothing is showing in the dashboard, tried changing browser, even system. I think it could be a server problem then, due to overload.

Well, that is a great thing for Bitcoin but, a bad thing for coinbase as of now they are having too much users in their wallet = overload for the website. and again that is a great thing for bitcoin due to more demand the price would just go high and high as the demands go higher,

it will be a great news to all people who hold bitcoin right now, because if all people know about bitcoin and bitcoin is more popular in the next time, bitcoin demand in the market will increased than before so, bitcoin price in the market will increased to stabilize demand and the stock in the market, and it will be a bad news to people who don't hold bitcoin like me :(

That’s pretty amazing but I think it could also be because the price it up to $7000. I remember back in 2012 when the price was jumping up to around $500, I wanted to get in on it before it took off, so I opened a Coinbase account at that time. I think the same thing is happening now with people getting interested as the price is going up and people are saying a Bitcoin could be worth $250,000 in two years. They are trying to jump on the band wagon.

From that news we can get the knowledge that demand of the bitcoin has been increased which means the price will be increase more.At present the bitcoin price is nearly $ 7500 which is five times more than the value of bitcoin at the starting of this year.

But i don't thing that about 100,000 new users because it is that actually they work for the income for the coinbase will increase from the transaction fee.So they don't have to worry about over load just have to make the powerful development team to make sure that wallet is safe and secure to use.

OMG. Thats a huge number of users for a one day period.Lets hope crypto will be bigger.

This is a great go for the coinbase and their users. They might comes with the new update in the wallet or give out the bitcoin gold reward as they email to their users.
I got last week email states that they will give the bitcoin gold reward equivalent amount what I have in my coinbase wallet.
Their world states and trading limit will increase so it completely good for the Coinbase team.

This is the point that makes no sense.  You're using this statistic to suggest that the bull market will continue for "a while".  But an increase in users just suggests that people are buying BTC now, not that they will in the future.

That kind of false logic is what drives people to buy in higher and higher into bull markets until eventually it crashes.

If anything, it suggests that the increase in users was so much quicker than usual that it could imply we're nearing the top of a bubble phase (desperation to buy in).

I think the main reason for this case is Coinbase is one out of the best wallets are going to support the upcoming hard fork. And at this time Coinbase is the only wallet announced that they will support the hardfork so when another wallet going to support it to I think the number of user will decrease quickly :))

Well this might be the reason in the sudden price increase of bitcoin. The reason why we are not able to forecast any upcoming correction. Its good to hear that more and more people are connecting themselves with this crypto. Mass adoption and reducing hurdles is the only way to adopt btc as a world currency.

I'm not surprised that 100k people are after free 2X coins  :P

every time there is a bump in the bitcoin price that happens!

more pump coming soon

I believe that the surge of new coinbase users are due to the latest price increase of Bitcoin which gave attention to the new users to join late in the price action of Bitcoin. Also another scenario I could see is that these people who now have interest with Bitcoin has asked people who they know has knowledge with BTC and asked them how to start trading with Bitcoin, of course these new users will encourage them to invest in Bitcoin and will most certainly show an easy option to buy Bitcoin which Coinbase can offer.

well its right so with this type of news more people will be getting interested how crypto works, coinbase attracts more users and if most of them
start investing and be well aware about this industry for sure it can be multiply much more, congrats coinbase for having numbers of new users.

if i am not mistaken this is a European thing, they use "." (dot) as thousands separator. so that is indeed 100K.

and that is not just Coinbase, there have been a lot of other signs. other websites are seeing more traffic, the google trends should show higher searches too, there is also increase in trading volume by that much, and on top of it all we can see the increase the number of transactions which is shown in the unconfirmed ones (50k currently)

wow ... this is fantastic, bitcoin increasingly shows this existence is very shocking news because 100.000 in 24 hours. go ahead with bitcoin.

That is absolutely insane to think about because so many of them are newbs and will be holding their coins on the exchange. Oh well, if people keep trusting centralized services they're only going to lose out in the end like in the past. They're going to have to start trusting peer to peer services and start trusting the Blockchain to be the new universal public ledger that everyone can count on.

100,000 new users within 24hrs is quite a massive impression to make and its something to also be happy about and I really don't see why someone already in the crypto industry won't be happy about here because it then mean what we are looking forward to in relation to the penetration of bitcoin is happening sooner than we thought.

Where concerns need to be raised is if the people involved are really new users and not the same set of users who are just populating the numbers or if they are really new, are they making informed decisions about making decision based on the understanding of what bitcoin is all about rather than been ruled by the greed of making "cheap money".

Another good news :) The massive increase in 100,000 users show that more people are interested to know about Bitcoin. This is a good sign for crypto. Let’s hope for more BTC adoption.

It's sad to see how all of these people will most likely lose their bitcoins because they are too stupid to learn more beyond "buying bitcoin on coinbase".

One has to be delusional to not think an huge percentage of these coins are going to stay there, at the mercy of coinbase's policy on hard forks. If they decide that S2X is BTC, the noobs will not realize they are holding S2X. Once S2X gets dumped into oblivion, they will have lost purchasing power, which coinbase should be responsible for, but they will pass it on the contract, which leads to noobs getting scammed because they are noobs.

This is great news not just for coinbase but for the bitcoin market, as many investors come in, the demand will be high so the price will  be rising up. This is good news for everyone specially for those people who hodl their bitcoin for quite some time now, talking about 3 to 4 years or more. This is going to be a huge profit to them. However i don't know much about coinbase but most people are saying negative things about the company so if these small time investors experienced some difficulties with coinbase some of them may not be investing anymore.

Surely this sudden price rise has attracted a lot of users and no doubt that it will also help to inc. the market cap of BTC.
But the question is How long will this price remain??? coz I don't think these new users really believe in BTC as a global currency. They attracted to BTC just to earn few bucks out of it, and they will exit as soon as they achieved their target profit. These new users are just speculators, not the real Investors.

We need to increase crypto users by exponentials numbers. So BTC can go above the moon.
I read about india will add 500k users monthly: https://cointelegraph.com/news/india-goes-bitcoin-zebpay-will-add-500k-users-monthly-by-2018

Probably it is because of the news of segwite2x new coin for coinbase users, thats a big news for crypto lovers.

80% of them wonder about BitCoin. I guess forking makes down price of BitCoin and BTG fork affect them badly.

Very good news. People have been attracted to Bitcoin. Bitcoin demand is increasing day by day. I hope Bitcoin will be Sky Rocket.

If all those people want just 1 bitcoin the pump would be huge because there just isn't the supply of 100k bitcoins on coinbase for under say 25k - 50k price.

Noobs only care about 1) when they will be getting access to their fork coins, and 2) what the price will be they will sell them at. In no shape or form do they even consider the possibility of Coinbase doing something that these people may not like. It's greed that's blindling them, and this same greed will at some point be their downfall. Essentially, it's not just fork related, but also when it comes to how easily people just choose to go with a wallet service to store their coins. If the government comes up with whatever new regulations, and this wallet service starts forcing people to verify themselves, they will start to understand how stupid it was of them to store their coins online. People mostly only learn when they walk themselves into problems. ::)

Very happy to see such news.. Coinbase is one of the main sources of traffic to our market.
Cant wait to see what kind of numbers we will see by next April :D

Registered users only. But will they buy bitcoin? Buying bitcoin from coinbase its not available in our country. But coinbase is the payout method on some free bitcoin apps and many in our country using those free bitcoin apps.

More and more people are beginning to be interested in crypto-currencies. Therefore, the figure of 100,000 is not surprising at all

That's a huge number of new users within a day and it's no joke. Being a popular exchange it sure is the one people will go to if they are new in btc. And also I've heard some hyip sites that supports coinbase users only so there are some who already have accounts in other exchanges tend to make an account in coinbase (based on what I've read in some social media groups of hyip enthusiasts). But no doubt that CME has a great role in this new users of coinbase. If you are into finance and read or heard about the world’s largest options exchange announced they will begin trading in Bitcoin futures you will definitely make sure to buy those coins.

Magnificent!, for a hundred thousand accounts in just 24 hours, that was massive, fast and continue growing of Bitcoin was the only meaning of this.

Bitcoin big surprises are getting more exciting. Who doesn't notice Bitcoin in business industries, perhaps they only ignoring Bitcoin, but those who can't adopt Bitcoin will be left behind.

Amazing growth and adoption happening at the moment, it's gaining some traction in the mainstream especially in the financial news. I know that the people I told about Bitcoin have only heard about this year so yeah it's not surprising that there's a 'run' of sorts happening with Bitcoin.

people are rushing into bitcoins... I wish soon we'll get a bitcoin ETF, so I can buy from my retirement accts.

Wow it is a good news or bad news? In our country bitcoin is hot topics for news television channels because of so many issue like some company uses bitcoin for scamming.. the effects is many people here think that bitcoin is a huge mistakes for the investor and not going into bitcoin so sad..

Thats Amazing to know...it means BTC is gaining more popularity. This will increase the price as well as market cap of BTC.
Also hard Forks like segwit2x and BTG also encouraged Alt-coin investors to reinvest in BTC and encash this opportunity.

And so the number of people starting to use bitcoin increases that's just 24 hours it would be interesting to see those stats over the last couple of years.

This news is way back this early of May this year. http://www.newsbtc.com/2017/05/27/coinbase-ceo-claims-company-saw-40000-user-registrations-one-day/
So for just a span of 6 months there is more than 100% increase to the percentage of their daily registrations. It only means that they are popular, bitcoin is popular and many people are starting to step in crypto.

Very impressive number! At this pace, 3 million new users per month. Bitcoin is gradually becoming mainstream.

This single news of the listing of bitcoin into the derivatives market will push bitcoin to new levels without a doubt ,earlier this year the wall street money started poring into bitcoin and now the derivatives market has given another push and whenever i think we could see a good correction because of the rally it had in the past few months,more positive news are coming out and good to see this much of new users coming into a single online wallet.

Its mainly due to CME announcement that it would release Bitcoin futures very soon and it has sparked the entire market.CME is a well known name in the market.Bitcoin price has reached $7,317 today.

Surely,it would take bitcoin in to main stream and the demand for bitcoins would increase very high.Btcoin has taken almost eight years to reach this price.We could expect bitcoin price to even double within a year and it would not be a surprising thing.

But,its also said that bitcoin may face crash in future as it happened in tulip in 1600 since tulips were traded only in contracts and same kind of contract sale would be in bitcoin futures which is cash settled and bitcoins could be delivered at the end time of contract.

Hope they are not games being played by these online wallets, I have withdrawn my stock of bitcoins from coinbase into my safe for the time being and i hope to return  them when the coast is clear but for now i am playing it safe and i hope so should many others like me because 100000 new accounts? i smell a fish.

I have never had any issues with Coinbase, but unfortunately here in my country I can use the only as a wallet for bitcoin and ethereum, I don't know why but they do not allow for us to buy and sell on their platform. After this great increase of bitcoin it's normal people get more curious about it and try to get some profit, and it's also normal seeing people who said bitcoin is a bubble come back and buy bitcoin again.

100k users within 24 hours. Maybe this will be a record for Coinbase. And no wonder, surely they have an outstanding Advisor team. I'm sure the promotion they are doing is the first step that will change the world of crypto. With hundreds of thousands of new users, the demand (and price) of Bitcoin is expected to eventually explode. It is estimated that currently less than 0.5 percent of the global population is invested in crypto space.

That'll be one hundred thousand more complaints pretty soon. They can't even respond to their current userbase's customer support requests so shit is about to hit the fan with them. I sent them ten plus messages over 5+ months and didn't get a single response back and couldn't withdraw cash to my bank despite successfully verifying it numerous times. In the end I just bought my coins back and sold them on Kraken without a hitch.

Probably a mix of the announcement and a bunch of people diving into Bitcoin due to the FOMO. I used coinbase when I was first getting into Bitcoin (mostly because they were still okay as a company at the time and weren't doing anything too insane with their users) and it seems like the go-to for new users, regardless of how much they have to invest and what their strategies are.

Definitely a bull market now, though. There will be little changing for a while, hopefully.

Definitely it is and other news that are booming in the wall street makes everyone giggles.
These waves of people that sign up in coinbase are the one's that heard of bitcoin new ATH and drives them to buy some pieces and that somehow also affect the price. We're now sitting on $7000 and up and the bull run hasn't stop so we can expect more things to unveiled.

This just goes to show the power of bitcoin. Lots of people coming in means the price skyrocketing. I wouldn't doubt that it'll break $8k before december.

One wonders - How many of those are bots?

I dont believe it, to me its impossible
If that would be true then they will have 36.500.000 new users in a year  ::) yeah right
Unless 99% are bots

Thought so something like this will happen after the CME announcement. But is it enough news for crypto world to get this much trust rating as to 100.000 people just got registered overnight ? I mean thats really amusing how things are started working up here. It could happen that the bitcoin price will rise a lot now, with the good news plus hard fork news everything will catch the fire and we will see bitcoin surging above 10K USD this Christmas, May be party time really!

my speculation is that this is the main reason for the current rally and also the follow up rises that will come after the fork. the CME announcement has led to a lot of positive publicity and caused a lot of investors to start thinking about bitcoin. so many of them already invested but a lot others are waiting for their account verification, money deposits and also more importantly they are waiting for the fork to happen before they start investing and that means we most probably will have more rallies on the horizons.

This is kind of funny, because what the CME approved wouldn't be available through Coinbase. Coinbase isn't offering bitcoin futures. I suppose the good news could drive people to buy bitcoin for the first time, but the relationship between the two events is human behavior irrationality, rather than causal correlation.

Are you sarcasting or just being plain dumb? It's mentioned that they just got all these amount of new users within 24 hours doesn't mean that they always get the same amount of additional new members in the entire year.
It's just rare event that makes it's gets published in many media and no 99% can't be bot because coinbase require verification ID.

Exactly, it could have happened by chance on the very day and so we needn't have to stretch it that much, i guess people want to make currency out of this in order to spark some panic selling on coinbase or perhaps n force many of us away from their exchange.