So that explains why I could get a good price on Bitcoin... Let us ride the upturn hey?

Many coins are coming down!!!! including the Steem
[IMAGE: https://steemitimages.com/DQmWLCQyvPz3tqr1bHUR4M7fLvs2SaPDEaijahwhhp7ygF3/Moneys.png]

thank you very much for the information @jaseph

The unpredictability life of Blockcnain and the Curious case of Bitcoins......Nice movie title there!

It's very dangerous to trade during explosive volatility with anything you can't afford to lose. It's always good to keep in mind your orders might fail to execute, right when you need them most, even if you predict all the price movements correctly.

Best thing you can do is spread your trading funds around multiple exchanges. Try not to keep all of your eggs in one basket, so to speak.

Excellent work
You are a good researcher

GOOD TIME TO BUY!

Yesss man, there's potential to make a lot of money here once the price bounces back.

Exactly! People panic but i look at it like its " On Sale" . Buy More.

I dont think i would buy until they resolve the forking issue... if it forks it will take a dive

Everything's going down

Just a red day for coins... I'm Buying all the Majors... Litecoin, ETH, ETC, BTC, Monero, and a few others.... It's gonna go back up.. Just the newbies afraid of a lil pullback... People that really dont understand how currencies work.. They just brought Bitcoin cause of the Sponsored ad on Facebook

Curious, What app/program is your favorite for trading currencies in the US?

@seymourbucks, do you use Coinbase, Poloniex or something else?

Thanks for the market update and your advice. I wonder if coinbase being down could cause a such drop in the market like today. It would definitely reduce trading volume and the small numbers of traders that are trading could influence the price. Not a good day for Bitcoin.

Good post. This goes to explain human nature : greed. Without considering that a website can go down or have technical problems people started screaming foul on #coinbase who were doing everything possible toresolve the issue. People only think of their gains or loss of money and nothing more. Thanks goodness all is ok. Great post @joseph

Time to buy every time down. But cannot buy at coinbase

use mobile app you can!

thank you

It's one of the reasons why decentralized exchanges (DEX) clients based on blockchains like Bitshares and waves are winners !

Little things like Coinbase problem, creates panic. I'm sure coinbase is one of the major wallets so it's like fire in the streets. @joseph, we will survive and rebuild bigger and better. Full Steem ahead.

Coinbase really needs to get their act together. In fact, I find all of the exchanges very buggy. Unacceptable.

scary how much impact the shutdown of one exchange can have.

This just goes to show that the market really needs a break!
Im just happy i kept some of my portfolio in Tether in cases like this. DISCOUNT!

Thank you @joseph .resteemed

Anyone knows what was the reason for the shut down?

These are BUYING OPPORTUNITIES. However, I would take a closer look at Ethrereum!

What goes up must come down. Ahh, the life of cryptocurrencies. Well time to buy!!

BTC-e was also down due to a "DDOS attack". Or so they could stock up on cheap coins and then sell them at a higher price to their customers, whichever narrative you believe.

Again do not use coinbase, they just want to screw you over.

What a disaster. Had some btcs and just when I was about to exchange them the price started dropping so fast on Polo with website bugging so hard. 500$ total drop until I was able to convert them.

Unluckily, Polo is very laggy atm, with some wallets offline and endless seeming waiting times for transactions being made.

I moved from Poloniex to decentralized exchanges when Bitcoin peaked in the past and didn't let me trade until it had plummeted. Bitshares on Open Ledger was fine the entire time. I'm not sure why decentralized exchanges don't get more attention.

Thanks for sharing your opinion. Luckily I have been using Cex.io., everything seems fine. I would suggest people to spread their risk, not only as in investing different cryptocurrencies, also storing it using different mediums. And definitely have some of them stored in your offline wallet. Much securer than putting all ur Bitcoin on one server

like a roller coaster... oh man
but do you think it will take an impact on buying orders
its still not the real hype we're waiting for. i GUESS ^^

If any big trade online shopping company start to accept btc payments like Alibaba or Amazon, then the BTC price will be hit over 4000 USD or even more very easily. This proves the market ,

Until market cap grows more i dont think it will be happening so easy, there is a lot of small steps until that direction yet.

or once company's like fidelity (who is already trying to get into BTC) start buying it up!

I read something about that....Fidelity was even encouraging employees to mine on work computers.

Amazon DOES accept btc.

Directly? Link me to where it says that. AFAIK, you have to use Gyft or Purse to flip your BTC for something on Amazon. Those two options, particularly Purse, have been frowned upon because it is presumed that the majority of the activity on the sell/facilitation side is made possible by stolen credit card info.

Up vote from me pal the more that use btc the better I understand that amozon already accept btc you can buy amozon gift cards and then you just spend the card amount you purchased

Coinbase went down early this afternoon and STILL DOWN!!
I did join coinbase but took out everything right away couple of days ago to my wallet. found its best to store it on my phone, Im looking at Gemini and poloinex to send bitcoin there to be able to purchase other crypto...still learning...STAY THIRSTY MY FRIENDS!!!

I'm new to Steemit. I sincerely would like to know how it works that this post earns $930 in 49 minutes :)

Because it's completely rigged, and 1‰ own 75% of all the wealth, check https://steemwhales.com/

I'm located in the UK. Fortunately other than a little slowdown at times I had no issues and was able to trade.

Really? I'm in the UK too and the app started showing glitches from early this morning (checked around 9pm) to total loss by 4pm. Only seemed to have come back online around 10pm.
Maybe it's something to do with having a EUR account with transactions pending? Anyway, makes me want to look at alternatives. Any suggestions?

Have any non american exchanges gone down like this due to increased traffic? Haven't heard about the first one...

Thanks a lot for all this information!

The drop seems to have brought Steem down a bit too, but it sure stabilized since then. This is so good to see and really look forward to see the crowds coming to this realization, building the trust in our platform here in the meantime.

All for one and one for all! Namaste :)

These drops were to be expected... both ETH and BTC went up way to fast this weekend... and everyone wanted to sell...

I think we can all just RELAX!
https://media.giphy.com/media/C7Qae6QqiC3y8/giphy.gif
Just part of the game ya know. lets wait it out and see what happens.
have FAITH! In CRYPTO'S!
Thanx - @justcallmemyth

It's a great reminder of how immature the crypto infrastructure is and how much we still depend upon a handful of exchanges and gateways. The development in this space has been so impressive these last few years, but we still have a long way to go before this can be considered mainstream.

Luckily I had some transferred to Bitshares some time before and it ended up going back up!

This is just a pull back. It will continue to go up. This is because people are either cashing out or the establishment bankers are trying to stop or slow the value rising. They will fail.

Ethereum took a big hit too. It was on the way back up within the hour. No need for everyone to panic - like you said, just a few whales playing with the price.

Ok, governments around the world cannot touch the blockchain that is clear, BBBUUUUUTTTT after today it is not needed. The way you crash this market is hit about 10 sites at the same time. Coinbase Poloniex Kracken Bittrex BTC-E and the other top 5. Keep them down for 2 days, you would be able to buy bitcoin for under $50 when everything came back up. People panic very quickly!

How would the price drop if the exchanges are all down? A shift to alt coins?

Panic would ensue everything would plummet! When the exchanges were brought back up there would be no bids, only asks.

This is why decentralized exchanges are the future.

Weak hands will always loose money, HOLD ;-)

The next years will be very imported

Its probablly just a profit pull at a certian price point. Seen it happen before in all other markets. Investor pull out at certain points to lock in profits. This could be a bigger issue if the market utilization drops too, but I have not seen that.

I've noticed coinbase going down regularly during bitcoin setbacks, previous time a mate of mine was trying to sell his bitcoin and he only new of coinbase, he was freaking out and I was just repeating Hodor... Hodor.... Hodor.... Hold the coin.

http://esq.h-cdn.co/assets/16/21/480x240/gallery-1464017558-hodor-l.gif

the question is.. are you really that worried :)

This is pretty typical of Coinbase with high volumes. From my experience I have missed many large dip opportunities because of their front end. I should setup a script to trade using APIs as a work around or hold some cash on GDAX with low buys for when these pull backs happen.

so , if anyone wants to lower the prices of altcoins, he/she must shut down the exchanges. Easy! I guess that will happen one day. We will see :)

This is the right time for anybody to invest, there is never a high without a low , for those that are selfish like me, it is the time to go all in because you do not want to be left out when this currencies go a way high.

Coinbase shutting down might be an act of the site itself to maker users not participate in buying and selling which I believe will affect more the market.

Almost like "centralised control". Is that not totally against what crypto stands for?

I think people are starting to sell bitcoin to buy ethereum.

https://steemit.com/bitcoin/@discernente/bitcoin-below-40-market-cap-for-the-first-time

Might be wise to keep Bitcoin in a wallet that is not on an exchange and have several exchange accounts, so there are more options available if you want to sell and an exchange is down. Then send from your wallet to an open exchange.

right when i was ready to start my adventure in cryptocurrencies coinbase shuts down...
perfect timing lol

Good news..
Upvote & Resteem
Good job @joseph ^_^

Bitcoin will hit its the highest value by the end of 2017. experts say

@joseph is coinbase reliable?
I saw @stellabelle's last post about it
btw .. it's climbing up again - BTC is

Coinbase is now FDIC insured for your $US portion of your account. Not for the crypto portion. So as far as safety it is safe for your Dollars . Reliable, depends on what you compare it to, it's one of the biggest exchanges with the largest number of customers, that means downtime when there is heavy trading is possible, like today. & yes bitcoin will recover, but I am not giving any trading advice here, just my guess.

no worries about the btc "advice"
I believe in taking my own responsibility
thanks for the info about it btw
a friend is using that
but I'll just share this to her

I only use it to buy BTC and cash it out. It's good practice to immediately shift it to a hard wallet if you plan on holding it for any amount of time.

@englishtchrivy Coin base helped the crypsty CEO Paul Vernon launder millions of bitcoins from at the expense of cryptsy customers. More of the same of the TBTF, best to move your money into open source wallets like electrum. Otherwise you can lose like i did from Cryptsy. Lesson learnt.

Source here ->>>http://www.coindesk.com/coinbase-to-face-trial-over-possible-role-in-cryptsy-exchange-collapse/

tsk tsk tsk
that's like b***s

up....for so long time....it's time going down...I guess....that's the game....hehehe...

I think everything has its downs but when it recovers, it skyrock the prices. And we can prove it by ourselves just by looking at the graphs.

Personally I am not surprised that today the market share of the ETH exceeds that of BTC. We are facing a phenomenon of replacement of ETH by BTC in the currency with greater participation?

HMMMMM, Coinbase you seem to always go down when bitcoin is dropping in price....Pretty weird if you ask me. I try not to buy or store my coins on Coinbase.

coinbase mobile app still operational

Wasn't for me!

Great update @joseph. I am also having tons of problems with Coinbase, and not only due to these stupid blackouts. I am thinking to change platform, any suggestions?

@joseph I believe this could be less harmful if we distribute our BTC holdings into chunks using different services. I mean keeping all the eggs in single basket will never be safe. If coinbase can blackout even for a little time, any platform can. I agree with your thoughts completely.

Quite an interesting post here @joseph . Keep up the good work man, I really like that you're keeping us, the community, informed.
Since I only work with Poloniex myself, I had no clue whatsoever what happened to Coinbase today.
I look forward to seeing more content from you soon - followed.

Best regards,
Life with Crypto

follow ...

> When your exchange is down, take a break and evaluate. Study what happens carefully, this might be a lesson for you to know what to do when it happens again, and it will. It does not have to be Coinbase or Poloniex, any exchange going down will influence the market and your trading.

-- Wisdom from a master people, that is a gold nugget right there, on any day but from a Crypto Yoda like @joseph -- definitely listen and learn from this guy.

Solid post as always. You are the big author now buddy, when is your first book coming out?

You can co write it with our epic book writer guy @ericvancewalton!!

(:

Barry I was watching "Silver Streak" last night on netflix and thought of you, I think we can make a team like Gene Wilder & Richard Pryor, I am not sure to do what yet, but we'll figure something out. :D

Edit: Maybe when Steem Communities is out ;)

I had to go watch the trailer to see what this was all about but I am down LOL. I can be Richard or Gene. I am easy (:

Did you see what Steve Wozniak said today about Bitcoin???? I wrote a post tonite on it, that kinda stuff with those kinda people and audience speaking openly at big conferences etc like this are key for mass onboarding and letting the regular audiences here about crypto!!

Absolutely right, some people act like an exchange hasnt gone down before. Emotional trading is never really a good thing. Relax and let the market do its thing and study the response.

> study the response.

Such wisdom!

i think many coin go down !!!!

I see, I really wondered how it gone down too much. Thanks!

Omg

Coinbase drive me crazy. Not reliable. No worries about bitcoin. It is my longterm coin.

Are the exchanges are scamming the customers, or can they just not handle the volume?

When will litecoin rally?

looks like a buying opportunity

Sad to see this but the support and hardwork will go on and surely it will rise again in some time :) thnks for sharing

When BTC touched 3000 and ETH broke through 400 yesterday I was on fire going to bed, woke up and coinbase was down. Not gunna lie and say I didn't have a "oh shit" moment haha.

Ups and downs is what makes this all fun and exciting. Also once the end of every week ends and the trading stops, traders turn to coins to keep them busy on the weekend, so it will go right back up!

I agree AND...are there some fairly reliable alternatives for turning USD into BTC so that one is not dependent on Coinbase? It seems Kraken might be one - any others anyone can suggest?

With coinbase I have found it to be the easiest, you can convert any coin, on any system or app to LTC BTC or ETH and transfer over to Coinbase almost instantly it seems, then right into your bank account for a couple bucks. I like it this way personally.

I have seen and heard other ways to save a few dollars on transferring, etc but id rather have instant access.

I use Genesis mining for ETH, will jump into more when contracts open. Coinbase to hold ETH BT LTC and love it here on steemit to earn!

Why is bitcoin so expensive and took me 2years to claim 530000 satoshi.?? Why???

I heard Charile Lee resigned coinbase, is it ture?

I am very concerned... when there is a future sell out, coinbase and most exchanges will be down to stop the bleeding. This is something to think about, if blood are in the streets, most people will be there starting at they mayhem. IJS.

Reminds me when their was a major sell of on the N. Y. Stock exchange a few years ago. They shut down the trading for the day. I just hope these company's don't pull a bank holiday. A few nations closed all the banks and you could not pull any money out. Back in 2013 Cyprus banks closed for 2 weeks due to a financial crisis. That is why people have gone to block-chains and precious metals to have funds available elsewhere as a safety net. It maybe a great buying time once the correction stops.

This has happened multiple times when bitcoin price drop coinbase just happens to go down at the same exact time or near enough. I use coinbase as well as various other platforms to purchase but I never keep my coin in there at all.

I use Coinbase only as a way to but BTC ETH or LTC.
once bought i try to move the currency or to an exchange of to my cold storage wallet.
mostly because of those issues that coinbase is suddenly is unavaileble in moments you need it and when market is moving
...I would almost say that it is better to keep your USD in Poloniex and use them when you want to buy cryptos

What are your thoughts on moving into something like USDT or bitUSD temporary to wait for a website like coinbase to recover in a case like this?

Coinbase is really one of the largest Bitcoin exchange, wallet out there. Surely it affects the prices of Bitcoins when it has some server issues. But the sad thing is that people just make too much of fuss, calling it even a scam. Server down and all are common problems with such sites, people should understand.

It's frustrating when that happens on coinbase. It's been a common thing at least once a month.

pls do not worry about it, now korean buy big volme of ETH BTC, ETC, RIPPLE
only we have severl coins we can buy in KRW.
yesterday, the trading volume only in korea, coin/krw , $1,239,700,918 + SOME not calculated( one exhanges did not send the list of sales to coinmarketcap.com
i checked this amount is only 93% of what we buying.
this volume is not including coin to coin base trading.

if the system has a problem the biggest looser is korean.
korean always ready to take a risk for any new era.
the crypto world is new, even there is some problem, in the end i think
there is prblem
now many koreans has some money to invest to make a profit
and now here, we have a perfect internet system, any place you can use wifi
with free of charge all day long sit coffer shop doing steemit,

i hope it will happen more often in the future, because the system is small
but many people looking for what is cryptocurrency

re-steemed and upvoted!

Very good post. Personally I learn a lot about my own psychology strength during up and down movements...

Good advise to take a deep breath and not panic sell. I personally prefer to buy and hold crypto although that strategy cost me a few years back with the fall of CRYPTSY.
Poloniex seems to be having a few issues dealing with the massive increase in trade volume over the last few months. From their site lagging to their recent decision to remove the troll box and ask moderators to help with support tickets. I currently have 2 outstanding missing deposit tickets that are PENDING. Hope they sort things out soon, i am a fan.

The drop was amazing to watch. I would dare say it will climb again. In 6 months time it will be interesting to see where BTC will be on the charts and if the predictions are correct.

Yeh really sharp fall but it just hardens your faith in cryptos as today yet again Bitcoin is recovering nicely.

coinbase always seems to go offline during times of price movement

I used Coinbase to toy around when I first got I to coin, but I wonder when the public at large will realize it's not like buying stocks. Maybe never?

Congratulations @joseph!
Your post was mentioned in my hit parade in the following categories:

• Upvotes - Ranked 8 with 665 upvotes
• Pending payout - Ranked 7 with $ 1369,57

Coinbase seems a lot of problem in recent peak transaction period.

That's one scary part of this whole cryptocurrency world. These exchanges are making tons of money in transaction fees, and they are completely unreliable. Coinbase is worse, price of Bitcoin at coincap.io is $ 2696, on Bittrex is $ 2649, and on Coinbase is $ 2705. but If I proceede to buy a Bitcoin on Coinbase than the price is $ 2719, plus the 1.99% fees if from bank accout and 3.99% fees if credit card that they charge on top of it. I appreciate the idea of decentralization but I think there needs to be one reliable datafeed source, if its possible.

I hate coinbase had nothing but issues with them

very nice article :)
please check my intro too ,
https://steemit.com/introduceyourself/@mahdiyari/bitcoin-price-forecast-daily-update-for-traders

This is why i love holding physical metals....

Let's hope none of them suffer the same fate as Mt. Gox. And it is about risk in all shapes and sizes, including systemic risk and risk of counterparty. I wish you all the best in terms of crypto trading!

Coinbase is not reliable anymore please sign up and use https://blockchain.info/ I am currently using this wallet to store my BTC.

Good advice @joseph ! Thank you!

Coinbase is saving money for the people who might panic-sell while price is going down. With Coinbase down noone is selling anything ;)

Coinbase is so slow at the moment.. Customer support seems to be dead:/

Thanks for sharing this data with us.l really look forward to see what is going to happen

Well i personally don't have trust in either one of them, they all can mount gox in any time you just need right ingredients. :)

Market Correction, happens everytime any asset rises too quickly.

It will always be best to have your own hardware wallet........ there will be a new possibility soon: http://bit.ly/2spNEbi

Amazing Joseph you have 2017 Followers
Keep it going
I am you new follower
Please follow back

A worthy post! Thank you

Nothing to worry if you are just holding your bitcoin.

IOTA stepped in the Ring! ;) <3

Great informative post..upvoted & resteemed

Nice post!!!Thanks for sharing:)
upvoted and followed:)

Always a buy tbh

https://steemit.com/bitcoin/@animatormatthew/iota-a-new-world-currency-promo-video-amazing

PEOPLE WANT MONEY FOR THEIR SUMMER TIME))

So, I'm new to all this, and have been on steemit for a year. I've recently set up a coin base and am trying to cash out a small amount of steem dollars so I can understand how it all works, but it seems like that is not longer an option? Can anyone help?

Seems safe to store coins in Coinbase as far as I can tell. According to Coinbase:

"
How is Coinbase insured?
Dec 21, 2016
Digital Currency

All digital currency that Coinbase holds online is fully insured. This means that if Coinbase were to suffer a breach of its online storage, the insurance policy would pay out to cover any customer funds lost as a result.

The insurance policy covers any losses resulting from a breach of Coinbase’s physical security, cyber security, or by employee theft. The policy is provided by a syndicate of insurers through Lloyd’s of London.

Coinbase holds less than 2% of customer funds online. The rest is held in offline storage.

This insurance policy does not cover any losses resulting from the compromise of your individual Coinbase account. It is your responsibility to use a strong password and maintain control of all login credentials you use to access Coinbase and GDAX.
"

https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-

Coinbase tx fee is becoming uninteresting and their mode of operation this days is obscure , and so anything malicious may happen to our currency. Am gradually fading up with centralized exchanges . Let's try and move to decentralized exchanges

i wish i have cash right now 🤣

Best time to buy bitcoin is now. For trader like me. I believe it will raise its value soon.

Just relax! https://steemit.com/bitcoin/@longnshort/stop-panicking-btc-eth-and-xrp-price-action-updates-and-ongoing-thoughts-8

Bitcoin is filled with so many uncertainties. Difficult to predict what will happen next.

Seems to be going up now!! :)

See Tips & Tricks blog of BTC's
[IMAGE: https://steemitimages.com/DQmcXt2MXCXhPcPbSsyTTjx4RgpyoyPo2PGF47p7dVCkgKy/531531.png]