Coinbase pauses Bitcoin SV withdrawals

Leon Neal

• Coinbase Global (NASDAQ:COIN) has paused withdrawals of Bitcoin SV (BSV-USD) Tuesday afternoon as the cryptocurrency exchange investigates "difficulties in transaction processing," it said in a post at 3:40 PM ET.
• The company said it's working on a fix.
• Bitcoin SV (BSV-USD) is rising 5.4% Tuesday afternoon.
• Earlier, bitcoin, crypto stocks extend rally as equity market gains bullish momentum

Comments

[Bearvsbull4ever]

Any news when bsv withdrawals will be aloud?

[CryptoChopko]

Anyone know who invented Bitcoin?

[Bathman]

@CryptoChopko Bubble!

[Harsh Truth]

That is both illegal and immoral, they are also stealing people's BTC from their custodian wallets.

[Blowback2]

@ddca48 Thought that was the way Ponzi were supposed to work????

[Jason Z]

@ddca48 wtf are you talking about, regular maintenance is illegal and immoral?

[Maxwel Smart]

@ddca48 how are they stealing btc and how is ut illegal to pause withdrawals?

[Pimpdaddy69]

Coinbase must really be sweating that lawsuit by Craig AKA satoshi.The lawsuit says they mislead investors on what bitcoin is and selling garbage BTC as bitcoin. Why do you think exchanges say buy BTC. It is because it's not bitcoin and they damn well know it. Craig has the patents and the 1.1 million BTC. Don't be on the wrong side of this. DYOR. DONT FOLLOW HYPE. These companies are faking bankruptcy to get out of regulation coming for them. For selling scam after scam after scam. BSV will be running many top blockchains on BSV just to show how worthless they are by the end of this year. The true bitcoin and creator will win. BTC core developers, blockstream, Tether, Binance, Coinbase, block fi, winklevoss twins, kraken CEO, vitalik buterin, Roger ver, and many more will be proven wrong.

[Pimpdaddy69]

@Pimpdaddy69 They always mess with BSV all the time. I thought they never listed it. Only BTC and BCH.

[Jason Z]

@Pimpdaddy69 what a bunch of non-sense yeah a $500B marketcap market leader will suddenly lose to an unpopular $1B marketcap shitcoin that is a fork of another shitcoin, sure.

[iamtraderx]

@Pimpdaddy69 You're a smart man! Look at their share price today. I believe they didn't notify their shareholders about the lawsuit in a timely manner, either. The fact that Coinbase, Kraken & Binance actually "De-Listed" $BSV signalled that $BSV is the real Bitcoin. They attempted to control competition because these exchanges make far more money on trade commissions through all these use-less erc20 turnip coins with their BS projects, just cyclically, pumping & dumping.

[Jason Z]

I don't understand why is this "news" on SA frontpage for almost a day now, what significance does a mktcap rank 52 shitcoin being under maintenance at coinbase have? why is this newsworthy at all?

[Stop The Printer]

Bitcoin SV is not Bitcoin.

Bitcoin SV is a shitcoin.

[kartoffelrapper]

@Stop The Printer Every 1 knows.

[iamtraderx]

@Stop The Printer If you knew how to use a Block Explorer the Data sits before you in Black & White. $BSV generates 4 GB Blocks

[Benjamin Graham Cracker]

These crypto platforms treat their customers like absolute garbage. Why anyone would do business with these companies is beyond me. They're using your money to play games, fill their pockets, and in the end you'll be screwed. Absolutely no fiduciary inclinations or trust here.

Seriously, didn't the CEO just buy some $6 million mansion on those funds you can't withdraw?

Do not do business with these companies.

[mrbuseco2]

@Benjamin Graham Cracker How else you gonna get your assets back to normie bank account?

[Jacobin777]

@Benjamin Graham Cracker Nothing wrong with doing business with them however its better to simply keep one's crypto in "cold storage". This way they can't "play games".

[Harsh Truth]

@mrbuseco2 Bitcoin transactions were supposed to bypass the legacy predatory banking system. The real purpose of Bitcoin was to use it as currency to trade goods and services, I don't know why it has been turned into a stock market type so-called asset.

[Wez]

The fraud is slowly unraveling...

[DSGX1]

@Wez explain your confident stance...

[Wez]

@DSGX1

You don't need it explained, you just don't agree, would be my guess.

[Herbert Samuel Jennings]

@Wez Stock bashing. Still illegal as it ever was.

[DomL]

these projects are still worth billions. it just shows you the value of money. Makes you wonder if the recession is what we are not pricing in or worried about..... the Great Reset or hard landing as some call it

[John Jeckle]

There are dozens of exchanges each trading hundreds of cryptos and one exchange temporarily pausing withdrawals of one of those cryptos because of technical issues happens pretty much every single week, it's not newsworthy.

[language police]

@John Jeckle There are thousands of banks with millions of accounts and if one bank pauses withdrawals it is newsworthy. But crypto, hey no big deal, just business as usual.

[blade3colorado]

@John Jeckle You obviously don't know squat about financial institutions, i.e., if ONE bank did this, it would be the top headline in all news markets. You're obviously invested in crypto, thus pushing your ignorant opinion.

[John Jeckle]

@blade3colorado You obviously don't know a single thing about crypto, you have probably never used crypto and have not traded or transacted substantially on crypto exchanges and so you are the one with the truly ignorant perspective. I have criticized crypto numerous times on this site but unlike you I am unbiased and can point out when certain information is neutral and/or meaningless. You, on the other hand, are "obviously invested" emotionally in crypto failing; you have a strong bias against crypto that causes you to see everything about it negatively, and nothing about it can be seen even neutrally.

[youiti]

Coinbase's share is declining and from the beginning
I have no intention of dealing with BSV, and as an act of sabotage of BSV
It is written in the media as a bad news to stop.
Stopped even though it wasn't originally handled? It has nothing to do with BSV.
BTC is not Bitcoin.
Bitcoin is BSV.
Those who doubt should actually try hand cash

[DayTradeLongTerm]

@youiti
BSV is not Bitcoin.

[HaroldRamis]

This 'thing' is worth a billion dollars

Really ? Then a billion dollars is worth nothing

[Jim_Berger]

Who cares, just buy

[Jim_Berger]

and the market goes up, and up, and up 🤣 long live the pumpers.

[Bathman]

Overheat, then blame on climate change.

[Andrew Atkinson]

Clickbait.

[Phil Dumfee]

Oh no. Run on Coinbase.

[Dalton Imperial]

The article could add a bullet pointing clarifying that BSV is not BTC (i.e. what people are generally referring to when they say "Bitcoin"), just as it might want to specify that Coca Cola Consolidated is different than Coca Cola.

I don't know enough about it to clearly explain what a "hard fork" is, but an issue with BSV (market cap of roughly $1.2B) does not necessarily (or much at all?) indicate an issue with BTC (market cap around $480B). It could be the end for Coinbase and crypto, but BSV and BTC are different coins.

Long crypto.

[Seeking more alpha than you]

@Dalton Imperial I knew that BSV wasn't the same as BTC - nothing needs to be changed.

[steve4466]

@Dalton Imperial Thanks for the explanation, not all of us are aware of this difference. If anyone can explain the rationale of why BSV needed to be created as something different from BTC that would also be greatly appreciated.

[ZiggyBoomBox]

@Dalton Imperial Not a great analogy, If BTC is Coke then BSV would be more like flat home-brew Faygo. ;)

[Long Tail Of Finance]

Useless fork!

[TommyIrish]

The great thing about Crypto!

A totally transparent peer-to-peer network of like-minded nerds.

Well, MAYBE some apes are just more equal than others…

[TommyIrish]

@TommyIrish

More evident by the day that Crypto was never anything but a scam.

[Jim Kimmelman]

@TommyIrish More evident that you don't know the difference.

[Benjamin Graham Cracker]

@Jim Kimmelman Oh these companies are making copious amounts of money off the fools they've duped. Celebs cashing out on crypto ads, Coinbase CEO buying mansions...

But hey...at least you can send money -- er, crypto -- to people directly!

Trust is a central facet of anything of value. Sure, you can own your own keys and not rely on exchanges, but these companies are destroying trust in the crypto ecosystem.