Bitcoin is NOT the future, it's a base for it, but Bitcoin itself cannot suceed due to it's unstability
It seems to me that the network effect and the ability to evolve the codebase makes it unlikely that bitcoin will be unseated. Given how nascent bitcoin is, it would be odd if its value was stable, especially considering that it's security is intrinsically linked to its value.
Which just jumped up 9% in the last 24 hours, no doubt connected with this implied permanence.its value
Yeah, tell me about it. Yesterday morning, I bought some on Coinbase. I got this email from them this morning: On January 21, 2015 you purchased XX BTC via bank transfer for $XX USD. For reference, the exchange rate applied to this buy was $XX. The total fee charged was $XX. After an assessment of your account activity, your recent purchase with Coinbase was cancelled. You will receive a full refund to your bank account within 3-4 business days. Our system is designed with safety and security as the highest priorities. Because of this, sometimes not all orders are executed normally. We must exercise caution in order to protect our customers, the bitcoin community, and our company. If you believe this cancellation is an error, please reply to this email with as much information as possible and we will be happy to manually review your account. Thank you for your patience and understanding. Kind regards,
The Coinbase Team Seeing as I bought it at 10% lower than the current price, and that my money is to be held up for 3-4 business days, I am fairly upset. I sent them an email. I've used this account for more than 2 years, and haven't made any changes to it. Also, my order wasn't unlike past orders I have made. It looks suspiciously like they cancelled a well-timed order. I would love to see the number of emails they send like this when the price is falling compared to when the price is rising.Hi mk,
Can you keep us posted on how they respond? They ought to honor your original rate.
I had forgotten to revisit. It was actually a reasonable cancellation. I have another shared coinbase account and the person I share it with made a buy with a bank account that did not have the funds. Although we resolved it immediately and coinbase got their money and that buy went through, the incident caused a flag on my other account. Coinbase was very cool about it, and after providing some info, everything was straightened out. I did lose that price however.