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As Bitcoin, Altcoins Fall, Coinbase Bows Out Due to Technical Problems

As Bitcoin, Altcoins Fall, Coinbase Bows Out Due to Technical Problems

by Tip

As Bitcoin, Altcoins Fall, Coinbase Bows Out Due to Technical Problems

    

Degraded performance by Coinbase

Coinbase, the San-Francisco based digital asset exchange suffered an outage on May 25, 2017, and was still unavailable at the time of writing of this article. The popular digital exchange displayed a message of ‘Service Unavailable’ and informed users that the site was down for maintenance.

Degraded performance by Coinbase

Coinbase informed users on its status page that their website was suffering from a degraded performance. In a tweet, the company revealed, “Coinbase has experienced unprecedented traffic and trading volume this week. As a result, Coinbase.com has suffered a few outages and downgraded performance for some users this week. Our engineering and support teams are working around the clock to restore our site to normal performance.”

Meanwhile Bitcoin and Alt currencies in a sea of red

It should be mentioned that while Coinbase is busy repairing their broken website, Bitcoin was trading lower by 3.37 percent at $2,297 on the Poloniex exchange. Ethereum was lower by 6.69 percent at $171.27 and with the exception of Ethereum Classic, which was up by 4.64 percent at $17, every other major altcoin was in red.

Users lament disappearance during crucial market moments

The lack of a trading platform has left many users in the lurch and they have been complaining on Twitter. @callux tweeted, “You have money. Your fees are astronomical. Buy better infrastructure.” While @ed_baker tweeted, “So let's see: price tanks, Coinbase goes offline. This is at least the third time I've seen this happen since March.” Adding to the complaints @StoicFrog tweets, “ETH dropped to $164 and your crap site failed to allow me to buy. Odd how your site crashes at the most opportune time for sellers & buyers.”

Chuck Reynolds
Contributor
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