Bitcoin Forum

Coinbase has passed Mt.Gox.

Mtgox. 233.35
Coinbase 237.70

 :o :o :o :o

How high is this going to go.
Also coinbase has passed its april 9th high befor the drop.

If they don't have enough BTC (as was mentioned yesterday) and they can't buy them fast enough, they really have no other choice temporarily to get some.  On a fast spike, Coinbase is not the place to buy.  Then again, if the same thing happens when they get too many BTC, it would conversely be the best place to buy.

Maybe coinbase have withdrawal problem. :P

No problems. I sold a bunch of coins not too long ago and receive $10K in my bank account 5 days later. No problem yet.

Coinbase is an excellent way to dump your coins.  Trouble is sometimes their service becomes paralyzed -- and you never know when it will be.  They also had a ton of issues because they don't run individual wallets -- they have a hot wallet, cold wallet, and a ledger.  You never have coins in your wallet -- because you don't have one. 

That means when they screw something up with the wallet, everything freezes.

This isn't to say they aren't the best way to buy and sell btc with ease, just that some days might be tougher than others..

I sold 10 BTC last Tuesday on Coinbase and the system gave me a completion date of Nov 1st...

As of today, still no money in my account.

Cheers,

To be fair that was a Friday. Super close to the weekend. They don't do anything on the weekend. I'm sure you will receive it today or tomorrow.

Have you sent a support email?

Yes I did on Monday morning.

No response yet...

They better not have any fucking problems. Let alone be hacked. I'll be the first one pounding on their office doors.

Thats because everyone knew Mt Gox withdrawal issue :)

localbitcoins price is substantially higher than mtgox as well.

Currently:
mtgox = 249.7
coinbase = 252.59
localbitcoins = 260.20

Anyone who is using formulas similar to the ones I published in the Spring has their prices set up to anticipate future increases:

I can sell on Coinbase for $251+.

It feels like there is a good potential to arb between Coinbase and Bitstamp. Do you know if Coinbase's sells take 7 days to confirm like their buys?

i would bet anything that coinbase, since they are a market maker, are buying for a cheaper source (BTC-E maybe) and selling at the GOX + price. They certainly have the capability and it makes perfect sense.

But then they're buying at Gox + price. Presumably they float the price between various exchanges depending on buy/sell demand on their platform. Now the really weird bit is that they're actually the highest, which shows LOTS of the buy demand is on them, which sort of implies lots of new money is going into Bitcoin.

Their blog post (can't find it now) says that they try to get coins from Bitstamp and BTC-e but if they can't get enough they will go to Mt. Gox.  Apparently they are doing that right now.

I was having problems today trying to sell. It was like back in the old days. I got a message saying they researched their limit and I had to wait 24 hours to try and sell

Yeah, especially for those not living (having a bank account) in USA... Dunno about Mt.Gox

I'm surprised.  I would think they have plenty of money right now and no coins.

Well they've been canceling my orders to buy Bitcoins...

Maybe they just have low liquidity in general.

Yeah, because US banks suck.

All of mine (around $200/BTC days) have gone through so far.  The last one hit my bank credit union today so I think it's still on target.

ACH transfers post the next business day, the delay is so Coinbase can hedge their client's orders or try to match them inside their order book.

Cheers...

Damn, in that case I just have bad luck. I got mine for sub-$200 though :D :D :D (although maybe I won't if they cancel it ~.~)

coinbase:284.07
mt.gox: 284.00  :o

Coinbase: 303.58
Mt Gox: 316.00

Sanity has been restored.