Coinbase not transferring bitcoins
4 comments
My understanding is that coinbase uses a "hot wallet." This means that your actual bitcoin wallet doesn't contain any coins. Rather, when you want to move coins, they are taken out of a centralized wallet and then sent where needed.
Maybe coinbase is playing hedging games with your coins...
The problems are worse than that. My account got reset yesterday. I now show 0 transactions and 0 Bitcoin. I had an outgoing transfer that was pending for almost 36 hours. Now, nothing.
It take exactly 2 seconds from pushing button at MtGox to arriving my coins at my blockchain.info wallet.
1 hour? Do they hand-deliver bitcoins?
1 hour? Do they hand-deliver bitcoins?
If you want to find other providers (or leave a review for coinbase) check out http://howdoyoubuybitcoins.com/ - it's a free site full of guides and reviews for buying bitcoin.
This seems to be a known issue that is being worked on [https://twitter.com/coinbase/status/314167537501868032, https://twitter.com/coinbase/status/314173853028986881, http://www.reddit.com/r/Bitcoin/comments/1anvaz/warning_avoid_coinbase/], but is troubling how there is no indication when this problem will be solved. A disconcerting reminder that unless your bitcoins are in your wallet, they aren't yours!