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Strategies & Market Trends : Blockchain and Cryptocurrencies
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To: zax who wrote (103)1/5/2018 1:52:04 PM
From: w0z2 Recommendations

Recommended By
roguedolphin
zax

  Read Replies (3) of 7622
 
A) The blockchains are not handling the volume well. I sent some money from Coinbase to Binance yesterday. Coinbase advised that both the Bitcoin and Etherium networks are experiencing very long delays, up to 12 hours.

There are multiple factors involved. Bitcoin transfers are slow (and BTW very expensive) due to the mining process. This is exactly why it's not a good currency but the mining process also makes it a very secure store of value (having successfully withsood nearly 10 years of attacks). Ethereum is currently slow due to congestion from the CryptoKitties game (look it up). It is still much faster and less expensive than Bitcoin.

They said Bitcoin Cash was running with only "minor delays". So in order to send the funds, I bought BCH on Coinbase and transferred it to Binance. It took over 15 minutes. (I flipped the BCH into BNB on Binance).

Binance's website is overloaded due to excessive usage. The following is excerpted from a guy I subscribe to. Both he and another subscription I follow recommended Binance Coin (BNB) today.

Binance Exchange achieved no 1 worldwide volume trading in just over 6 months (please go back to September email about BNB coin if you are not familiar with it). Today the exchange stopped adding new users, temporarily disabling opening new accounts. It was caused by enormous rise in users, just yesterday Binance opened 250.000 unique IP accounts. That is the volume of new users that I have never seen in any market in history.
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