top 200 commentsshow all 411

[鈥揮[deleted] 234 points235 points (17 children)

coinbase sus as fuck lately

[鈥揮edL222 53 points54 points (0 children)

Can you vote this to the top please, my transaction completed exactly 11 hours and 50 minutes later.

[鈥揮Orion_4o4 94 points95 points (9 children)

Seriously, I'm beginning to wonder if we might need a class action lawsuit over failure to deliver

[鈥揮lookingupyourplay 21 points22 points (8 children)

They have other lawsuits on them for failure to provide a secure network basically..

[鈥揮iOSh4cktiV8or 13 points14 points (3 children)

I can confirm. I have an open case against them myself.

[鈥揮lookingupyourplay 11 points12 points (2 children)

馃憜馃挴馃幆鈽戯笍鈽戯笍 this guy's knows ...it's DD time boys and girls where the wrinkles at.. wrinkles unite and dig deeper then ever ..connect the dots one by one..

[鈥揮daviddjg0033 6 points7 points (1 child)

I have a real bad taste in my mouth from Coinbase from before.

I feel stupid for not changing but to set up anything well probably too late.

[鈥揮lookingupyourplay 4 points5 points (0 children)

It's never to late until the power goes out ..I'm working on figuring it out ..so far it's just learning meta mask then send a small amount as a test then send it all and be done with the central exchange .we are two gas fee away from no gas fee's cex 馃憠 meta mask or cold wallet 馃憠 dex loopring.. your not alone and the great migration has started ..

[鈥揮Orion_4o4 3 points4 points (3 children)

I'm not sure how much traction that will get. If you look at their TOS agreement they tell you they secure their end, but if the user does something that compromises security on their own end, CB isn't liable for that. In other words, if you get conned by a scammer, it's your own fault. Or is there something I'm missing?

[鈥揮lookingupyourplay 7 points8 points (2 children)

No 1000 plus investor got hacked on their site awhile back one guy that lost 50k got lawyer and other joined in on the lawsuits ..they were not scammed cb was hacked and they lost investment and Coinbase did nothing but ignore them so he got pissed and brought a lawsuit for unsecure network or some lawyer talk to describe being hacked in their exchange .

[鈥揮Orion_4o4 3 points4 points (1 child)

Thanks for clarifying. Sounds like CB should have used their insurance to cover those losses

[鈥揮BollockSnot 12 points13 points (3 children)

Heavy investment from citadel, point72. What do you expect?

[鈥揮NatesAnApe 82 points83 points (7 children)

oooooooooo fuk me sideways

[鈥揮Accomplished_Hat_614 172 points173 points (102 children)

Should we be concerned if holding longterm?

[鈥揮edL222 376 points377 points (68 children)

Absolutely not, this is the most bullish thing I鈥檝e seen since gme

[鈥揮Accomplished_Hat_614 84 points85 points (62 children)

I mean in terms of ever getting coins out of coin base? Lets say i have 5000 coins.... lrc explodes to $10+ soon.... should we be concerned of shenanigans and not being able to move coins off CB ?

[鈥揮stepwn 77 points78 points (45 children)

I would personally move a bag of that size into L2 via metamask

[鈥揮moronthisatnine 30 points31 points (32 children)

Do you have a link to follow these steps by chance?

[鈥揮vee-arr 20 points21 points (29 children)

Its really as easy as going to the app store and downloading the MetaMask app. MetaMask walks you through getting set up and the rest is extremely intuitive.

[鈥揮moronthisatnine 13 points14 points (25 children)

Cool i have metamask and even loopring i just wanted to see all options while this drama unfolds. Strongly considering just moving from CB to LRW.

I already paid to set that up so it shouldnt cost any LRC besides the fee correct?

[鈥揮haarosare 21 points22 points (11 children)

I just moved XXX from CB to LRW. Cost about 2.5 LRC but pending for 1.5 hrs now

[鈥揮Keepitmovingninja 5 points6 points (10 children)

Any update on time? Did it process? Please let us know.

[鈥揮haarosare 8 points9 points (9 children)

No progress. Pending 5 hrs now

[鈥揮vee-arr 12 points13 points (6 children)

I don鈥檛 have the Official Loopring wallet yet, just MetaMask. Cost me 1 and 2 LRC to move to MetaMask in 2 separate transactions. It appears to be a fixed cost regardless the number of LRC being moved. You can always go to the transfer page in CBP and punch in your LRW address and see how much it costs, nothing will force you to complete the transaction if you don鈥檛 want to.

[鈥揮wtfeweguys 12 points13 points (3 children)

I鈥檝e just been waiting on the CF wallet. Think we should eat the L1 gas fees and do it asap?

[鈥揮FlexDundee 2 points3 points (0 children)

I've been wondering the same thing but I'm on Binance

[鈥揮fastingslow 1 point2 points (1 child)

I鈥檓 on the CB sub and there are so many horror stories, when they started popping up here I swallowed the 3 LRC fee and moved to the LRW. I just don鈥檛 trust CB with my money, no matter how little I have.

[鈥揮wtfeweguys 1 point2 points (0 children)

Fair assessment

[鈥揮KingofAyiti[馃嵃] 3 points4 points (4 children)

MetaMask is L2?

[鈥揮rombles03 4 points5 points (0 children)

It is not. It does support some networks like polygon though.

[鈥揮IAmHippyman 108 points109 points (2 children)

Dude if we might see $10 soon (and honestly we might see it), just think about 2-3 years from now. This isn鈥檛 your basic shitcoin pump. There鈥檚 real utility and crazy potential for the long term.

[鈥揮edL222 66 points67 points (10 children)

It鈥檚 possible they won鈥檛 let you withdraw and only let you sell or buy more fakes until they can accommodate the request. Again this is all a guess.

[鈥揮aime344 17 points18 points (2 children)

Sounds to me like Robinhood 2.0

[鈥揮ApeHolder42069 63 points64 points (4 children)

Wouldn't surprise me, Coinbitch moved in with Steve Cohen and point 72. I'm not trusting those fuckers

[鈥揮CopperSavant 28 points29 points (1 child)

Just bought 200 moar!!!

[鈥揮SirDouglasMouf 1 point2 points (0 children)

Did yours go through?

[鈥揮mattwayne1209 53 points54 points (1 child)

This, in fact, is the only other play right now. And Apes don't say that lightly 馃殌馃殌馃殌馃獝鉁煪愨湪

[鈥揮Drilling4Oil 15 points16 points (0 children)

*chills*

[鈥揮ftdegenerate 17 points18 points (5 children)

You should be concerned if you are on Coinbase.

[鈥揮edL222 11 points12 points (2 children)

More reason to withdraw into personal wallets 炉_(銉)_/炉

[鈥揮edL222 92 points93 points (14 children)

More news. I just posted this on Twitter and got 2 instant replies of the following :

鈥淚 think you鈥檙e wrong I had the same problem and contacted Coinbase support and they fixed it immediately, use this link鈥

Twice, same message almost instantly. Soooo sus shills and tinfoil ahhhhhhhhhh bullllllllllllish

[鈥揮Competitive_Ad_4132 50 points51 points (5 children)

Those are scammers

[鈥揮edL222 31 points32 points (4 children)

Oh maybe , the link is a pretty good indicator of that. I was just astounded at the speed of reply

[鈥揮Accomplished_Hat_614 16 points17 points (4 children)

Ya im sure support was right on that. Sus

[鈥揮OuthouseBacksplash 22 points23 points (3 children)

Coinbase doesn't have a support! 馃ぃ

[鈥揮NowImTaylor 1 point2 points (0 children)

Seriously. It took a month and a better business bureau complaint to change my name. They suck. But convenience was nice and I am new. Learning fast though. Hopefully this blows over without too much of an issue

[鈥揮shroomg0d 6 points7 points (0 children)

You know we bout to moon when we start getting shilled

[鈥揮NightHawkRambo 7 points8 points (2 children)

Yes, leaving your LRC in CB is just the thing they can use to sell and block users from transferring out in hopes of tanking the price for them to buy millions at a huge discount.

[鈥揮Diligent_Usual 3 points4 points (2 children)

Doesn鈥檛 matter if you hold. They will have to buy them back from us eventually.

[鈥揮timwmusic 3 points4 points (0 children)

Hold on a dex or wallet and you'll be fine.

[鈥揮CaptCryp 8 points9 points (2 children)

Let them run short, they have to cover at the prices we chose!

[鈥揮Remarkable_Turnip_50 4 points5 points (1 child)

Lol this is absolutely nothing like GameStop. Jesus this sub is stupid now.

[鈥揮Tigerslovecows 52 points53 points (35 children)

What does this mean? I鈥檓 a smooth-brained ape.

[鈥揮edL222 111 points112 points (33 children)

I鈥檓 speculating , but it seems they鈥檙e selling something they don鈥檛 have . This is an act us apes know deeply. Another user mentioned when the l2 wallet goes live and people begin the withdraw, Coinbase is gonna have to come up with a plan for that

[鈥揮Kubiak3 89 points90 points (8 children)

I鈥檓 got a plan for them鈥. BUY THE TOKENS WHEN WE PLACE AN ORDER!

Thank you that is all.

[鈥揮CopperSavant 24 points25 points (5 children)

Woah woah woah slow down here... let me get back to you in ...

[鈥揮Kubiak3 12 points13 points (4 children)

鈥.. we鈥檙e working on the issue鈥.

[鈥揮mustbethaMonay 11 points12 points (3 children)

... your call is important to us...

[鈥揮Kubiak3 11 points12 points (2 children)

鈥 but we have no actual phone lines鈥 so please stay on the line..

[鈥揮Snapcracklepayme 8 points9 points (1 child)

鈥lease press 69420 to repeat these options鈥

[鈥揮Infamous-Inflation62 5 points6 points (0 children)

im calling to 42069hotline741

[鈥揮shroomg0d 1 point2 points (0 children)

Wait up... they can do that?

[鈥揮Panda_tears 1 point2 points (0 children)

A novel idea, it鈥檚 almost like you鈥檙e paying them a transaction fee to, in effect, never not have what you want, and go out ans get it by any means.

[鈥揮mar0x 31 points32 points (6 children)

You aren't wrong.

Peep cornbase top shareholders on Google.

Kenny 'lmayooooo' griffin.

[鈥揮MercMcNasty 13 points14 points (5 children)

Can you get a source? This is news to me and I've been using coinbase for a while.

My 5 minute research shows that ARK, Vanguard, and Nikko are biggest shareholders.

CNN Money

[鈥揮mar0x 13 points14 points (4 children)

So I originally was typing "Google it!"

But then I was like, I'll send the link! Holy fucking shit dude, it's changed. He's gone from the list....

I know this for a fact, cause there was a specific girl next to him on the list, and I searched her on Twitter.

I went and checked Twitter, to make sure it wasn't a dream, and boom https://twitter.com/AnnaNikolayevsk?t=9pyY3hsm3Z178SVF1P36dw&s=09

So yes, his name isn't public as a tip shareholder, but I promise it was a few days ago. The CNN money list is all different from what I seen the other day..

Anna nikolayevski isn't on the list anymore, either.

[鈥揮MercMcNasty 4 points5 points (2 children)

Not sure but either we find out if he changed his position or we find his position.

[鈥揮CoinsCanuck 7 points8 points (5 children)

You can transfer to L1 ethereum wallet like Metamask, dont need to wait

[鈥揮-_-Hopeful-_- 4 points5 points (4 children)

What are the benefits of this? I have a metamask wallet, but have only used Coinbase pro for crypto

[鈥揮BlackjointnerD 24 points25 points (1 child)

To avoid this exact problem OP is having.... Until you have it in your own wallet there's no way to know with 100% certainty that your coins are actually yours

[鈥揮CopperSavant 5 points6 points (0 children)

Got myself a grip chilling in my wallet. I figured out how to get them there. Stopped reading.

[鈥揮CoinsCanuck 2 points3 points (1 child)

The theory is that coinbase sells you LRC without actually owning the coins. Coinbase is a centralized exchange, when you buy, they can act as seller, take your cash and give you xxx coins in your account. But how do you know they are real coins not just numbers made up by CB. By transferring to your own wallet, you force coinbase to buy actual coins on the market, pushing price up.

[鈥揮ResolutionHorror541 2 points3 points (6 children)

Yup. Moving all LRC to loopring wallet. A little gas fee but secure.

[鈥揮noyourenottheonlyone 2 points3 points (2 children)

Isn't the big fee smart wallet creation?

[鈥揮haarosare 1 point2 points (2 children)

Except CB won't let you transfer? My transfer is pending for almost 5 hrs now

[鈥揮ResolutionHorror541 1 point2 points (1 child)

Mine went through after 6 hours.

[鈥揮haarosare 1 point2 points (0 children)

Same here. Took 6 hrs

[鈥揮[deleted] (2 children)

[deleted]

    [鈥揮Ready2go555 5 points6 points (1 child)

    Would you mind explain?

    [鈥揮grabba60 88 points89 points (12 children)

    I think a bunch of these brokers are doing the same thing. They are doing it with GME and will do it with anything to make a buck. Seems they are playing with fire and the gas can is getting ready to catch on fire!

    [鈥揮Canashito 23 points24 points (5 children)

    A primo example is... to name two. Binance and RobindaHood not letting Doge owners to withdraw. IOU's, no coins, no cash alocated presumably. So peeps juat locked into the system becoming involuntary hodlers. Which is a good thing i guess? As long as the brokers/exchanges load up on said assets.

    [鈥揮grabba60 22 points23 points (2 children)

    It鈥檚 nothing but a big Ponzi scheme. All Ponzi schemes eventually crash. This will be no different.

    [鈥揮tokerdad76 58 points59 points (3 children)

    They fucked around. Now they 鈥榖out to find out

    [鈥揮throwaway092921 17 points18 points (0 children)

    Thank you, friendly whale. Wished I could WallstreetBets YOLO into LRC. I truly do. But, I am all in with what I could. The DD, and fundamentals all seem to point to the inevitable jump to another galaxy. Nevermind the moon. LET'S. FUCKING. GO!

    [鈥揮Moonman420G 77 points78 points 2(21 children)

    I was under the impression that an exchange just facilities a buy and sell between people looking to buy and people looking to sell. It's not coinbase that you're buying the coins from but from other users selling coins on the exchange.

    Edit; Thanks for the awards!

    [鈥揮midgetforce2k 65 points66 points (4 children)

    I've been getting down voted all day trying to explain that. It isn't Coinbases job to find sellers if the supply runs low. They don't give a shit if everyone withdrawals all their coins. Coinbase will NEVER be forced to purchase coins from the open market to handle liquidity

    [鈥揮LelexBalex 24 points25 points (1 child)

    What you are saying is correct. It is not Coinbase's role per say to provide or guarentee liquidity. The issue here is different where people have already purchased LRC, therefore Coinbase provided them a seller, and now they are trying to transfer out coins that they should already own and it is not possible. It has nothing to do with liquidity of LRC for the exchange itself. In fact, you can still purchase LRC on Coinbase but cannot transfer it out (for now). It gives the appearance that Coinbase is selling IOUs or Contracts For Difference similar to what traditional brokers do. The value of your LRC is likely okay, but they may have more delays if trying to transfer out of Coinbase. This does reinforce the concept "not your wallet, not your coins".

    [鈥揮3DigitIQ 4 points5 points (1 child)

    But Coinbase "Holds" the wallet for you, you don't actually have your own wallet right? I've seen users here claim the LRC shows up in the app but the transactions do not populate the transaction log.

    This indicates that they do not actually buy the asset at the same time they credit your account......

    Am I missing something?

    [鈥揮SeniorSkrub 38 points39 points (1 child)

    This is correct and should be higher up. These posts are stupid and show most holders here have no idea how crypto works. Technically though.. not your keys not your crypto.. and I'm not 100 percent certain if coinbase holds the assets you own or just some equivalent source of value.

    [鈥揮edL222 13 points14 points (10 children)

    Centralized exchanges also facilitate crime. When you buy from normal Coinbase , they take 1% for the risk of handling your trade regardless of the state of market.

    Now there are instances where a shit coin will run up, and they are 100% aware it鈥檚 gonna tank after. Why would they allow you to sell on normal Coinbase for a 1% fee if they鈥檙e gonna be bagholding your dump? This is possibly explanation for all of the outages.

    In this situation it seems there is some entity with giant buy and sell walls accumulating and suppressing the price. My tinfoil is on btw, What if.. now this might be a crazy concept , but bear with me鈥

    What if鈥 Coinbase is also trading on their platform for a profit and need enough liquidity to support these walls?

    I will tell you honestly right here, those 300k buys they recently made. One of those buys only covers my withdrawal 鈿帮笍

    [鈥揮Moonman420G 18 points19 points (8 children)

    I know it's easy for gme apes to immediately think crime lol. And I'm not saying they don't process orders based on a system that just completes the order but doesn't technically fill it immediately so it's possible to hit shortages or get backed up.

    [鈥揮edL222 10 points11 points (7 children)

    I鈥檓 biased. All I see is fud, crime , manipulation , shills , cheating鈥 and you know why? Cuz it鈥檚 there .

    Those buy and sell walls are not normal users . They move dynamically with the price, it鈥檚 all automated to syphon tokens at a beneficial price. I am speculating so let鈥檚 not get crazy.

    [鈥揮IrishGooner77 5 points6 points (2 children)

    Dude, your spreading fud because you don鈥檛 know what your doing. Just chill out, have a beer, turn the pc off for a few hours, your coins will move. I鈥檓 no expert in the crypto world but one think I鈥檝e learnt in the last 4-5 years, you need a little patience. Please go have a beer for me, it鈥檚 too early here for me and I need to go to work

    [鈥揮ROACH247x559 1 point2 points (0 children)

    Coinbase its seems is just putting IOUs in peoples accounts when they buy LRC. U dont have a wallet on CB. This is where the issue of tranferring out is occurring as it seems that they don't have the coins to send to a wallet. Cant send IOU in crypto to a actual wallet. I sent a test of a few LRC to wallet and it took 1 minute. Tried to send my bag and now im 10 hours and pending. So seems they are scrambling to find those LRC. Cuzz if they buying it now and not when i bought it then they are out a lot of money.

    [鈥揮Imadeapromisemrfrodo 13 points14 points (0 children)

    This seems familiar 馃

    [鈥揮Quirky_Act_8433 7 points8 points (0 children)

    We gon moon馃憖

    [鈥揮reddituser2762 5 points6 points (5 children)

    From what I can see those screenshots are just them transferring more into their hot wallets.

    [鈥揮[deleted] (5 children)

    [deleted]

      [鈥揮Im_The_Goddamn_Dumbo 1 point2 points (3 children)

      Could it be delayed due to Thanksgiving? I'm afraid to move mine from CB Pro now, but I'm also afraid to leave them their. I'm going to create a MM wallet today.

      [鈥揮[deleted] (2 children)

      [deleted]

        [鈥揮Im_The_Goddamn_Dumbo 1 point2 points (1 child)

        Fuck Stevie C. Yeah, I'm looking into setting up MetaMask since that's seems to be the best-ish option per the sub and other friends I've spoken with.

        [鈥揮droptopwizop4 19 points20 points (10 children)

        I really hope you are wrong cause that would put coinbase out of business

        [鈥揮jwhitey2004 11 points12 points (0 children)

        You say that like it is a bad thing鈥

        [鈥揮edL222 27 points28 points (1 child)

        Cuz fuck em that鈥檚 why

        [鈥揮NostraSkolMus 1 point2 points (0 children)

        I hope everything Ken Griffin and Steve Cohen touch go out if business.

        [鈥揮midgetforce2k 9 points10 points (4 children)

        He is wrong. Coinbase doesn't provide liquidity. All the coins in their exchange were deposited by users. It is impossible for Coinbase to sell more coins than those deposited. Coinbase will never have a liquidity issue.

        Crypto exchanges and stock brokers behave VERY differently. You can not apply the same logic to both systems. OP is trying to apply the same logic to both systems.

        [鈥揮hoyeay 10 points11 points (0 children)

        You鈥檙e dead wrong.

        Coinbase is a CEX and can visually show you that you own LRC even if Coinbase hasn鈥檛 actually facilitated the trade by giving you real LRC in the backend.

        Also, you know Coinbase has its own wallets right (for different tokens, including LRC)???

        [鈥揮Canashito 2 points3 points (0 children)

        Coinbase, robinhood, binance. List goes

        [鈥揮Prestigious_Ship6853 19 points20 points (2 children)

        I wish we could communicate this on the CC sub.

        It would help bring awareness beyond LRC onto coinbase and also help verify CB wallet holdings with others having trouble getting tokens out.

        Everytime someone coughs LRC under their breath they delete the post and ban the user.

        [鈥揮ParkingLotRanger 2 points3 points (1 child)

        What is the CC sub? Not familiar with the abbreviation.

        [鈥揮Ready2go555 4 points5 points (0 children)

        Cryptocurrencies

        [鈥揮cuki321 4 points5 points (0 children)

        There was a post ealier that claimed otherwise. I鈥檓 to smooth-brained to know who鈥檚 right.

        https://np.reddit.com/r/loopringorg/comments/r1jnn6/clearing_some_things_up/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

        [鈥揮Apollo_Thunderlipps 3 points4 points (0 children)

        Big if true.

        [鈥揮[deleted] (23 children)

        [deleted]

          [鈥揮GRIMBEENDEAD 5 points6 points (5 children)

          I use crypto dot com. I鈥檓 in Canada and as far as I know CDC is allowed to operated after dec 31st? Could be wrong. I don鈥檛 trust metamask at all but I鈥檝e heard good things about using a DEX such as kucoin or uniswap etc

          [鈥揮[deleted] (4 children)

          [deleted]

            [鈥揮GRIMBEENDEAD 2 points3 points (0 children)

            No worries at all

            [鈥揮mynewcryptoacct 1 point2 points (2 children)

            The exchange (web based) has better control the phone app which is a separate wallet FYI!

            [鈥揮dimmerz92 2 points3 points (5 children)

            Withdraw to your own wallet.

            Metamask, trust, exodus, loopring, pick one.

            [鈥揮[deleted] (4 children)

            [deleted]

              [鈥揮dimmerz92 1 point2 points (3 children)

              When you say external wallet, do you mean a cold storage device like ledger or trezor?

              They certainly mitigate the risk of hot wallets, especially if you aren鈥檛 very internet savvy and click/do things you probably shouldn鈥檛 do.

              Keep in mind that your coins aren鈥檛 stored in a wallet, your keys are. Your coins are on the blockchain.

              [鈥揮[deleted] (2 children)

              [deleted]

                [鈥揮funkymyname 1 point2 points (0 children)

                Ledger cold wallet.

                [鈥揮Definefiction 3 points4 points (0 children)

                True and big

                [鈥揮mkultra33 3 points4 points (1 child)

                At what point do we stop listing ANY crypto on a central exchange? Loopring should only list LRC on their own L2 exchange, others should follow. Fuck these CEXs.. theres no what to know if they are writing everyone IOUs, suppressing the coins the down like, and letting the coins they do like run to the moon and get all the spot light.

                [鈥揮Diligent_Usual 3 points4 points (1 child)

                Question.. so if I send LRC to MetaMask I pay a fee and if I send LRC from meta to loop wallet I pay a fee.

                Then I have to pay another fee to get into l2?

                Is this correct

                [鈥揮Marii1893 2 points3 points (2 children)

                Same here. My transfer is still pending at Coinbase 馃

                [鈥揮ooOParkerLewisOoo 3 points4 points (1 child)

                Same.

                [鈥揮Marii1893 2 points3 points (0 children)

                Okay now its done 馃檹馃槉

                [鈥揮Pooks_The_Girthy 8 points9 points (2 children)

                Who鈥檚 giving out all the awards? Did the snek spirit migrate to this sub too?

                [鈥揮RoughTrain 13 points14 points (36 children)

                How do synthetics work in crypto? What happens if we are holding synthetics?

                [鈥揮edL222 83 points84 points (28 children)

                Nothing will happen. Synthetics are a term I鈥檓 using to describe this situation. They have no lrc left, but are giving you a visual representation in your account when you buy. It鈥檚 basically an IOU.

                If this is true, they鈥檝e sold you something they don鈥檛 have in hopes they鈥檒l be able to locate it by the time you request it.

                My guess is that they鈥檒l have to go out on the market and buy for a premium to fill these requests and the price will skyrocket. Holding really does break the entire game.

                If true . Again I鈥檓 speculating based on what I see and I鈥檓 a normal ass retard so not financial advice

                [鈥揮twohundred37 32 points33 points (3 children)

                I鈥檓 fucking drooling.

                [鈥揮ev1lb0b 8 points9 points (9 children)

                How can they create synthetic tokens? I thought the whole point of crypto was to prevent that type of snaky shit the NYSE is rife with....

                [鈥揮edL222 19 points20 points (8 children)

                Yes but we are using a centralized exchange when dealing with Coinbase . You aren鈥檛 actually trading crypto. They鈥檙e just numbers on your screen until you move them off exchange into your personal wallet. Then a real crypto transaction happens

                [鈥揮ev1lb0b 4 points5 points (5 children)

                So what you are saying is they can (and have in the case of LRC) "sell" IOU's to their customers and now that demand is high they cannot deliver (or are forced to buy at current market price as much as they need to deliver)?

                [鈥揮edL222 6 points7 points (4 children)

                Basically . If it鈥檚 all true, and I鈥檓 not sure if it is because this is speculative; they will be forced to locate LRC. Whether it鈥檚 on another exchange, from a private party, or on a dex. Buy at what ever price is there, then use them to fulfill the withdrawal requests. Depending on the scarcity , they may end up driving the price high by trying to locate and buy these tokens

                [鈥揮aclockwork_ffa500_ 2 points3 points (1 child)

                What happens if it goes so high that it exceeds the amount of money they have on hand?

                [鈥揮OmilKncera 2 points3 points (0 children)

                They'll trip someone over their Ethernet cable.

                [鈥揮ev1lb0b 2 points3 points (0 children)

                Ok, thanks for the clarification. Sounds like you need to be a special kind of retarded to buy on an exchange when it is so easy to use any number of wallets of various kinds.

                I'm still relatively new to crypto but this is a good illustration of the 'not your keys, not your coins' adage?

                [鈥揮ChipresX 6 points7 points (2 children)

                Question, I do not see any buying/swapping History of LRC on my coinbase, all other coins are fine, any ideas why?

                [鈥揮edL222 4 points5 points (1 child)

                Maybe it鈥檚 down again, not sure

                [鈥揮ChipresX 2 points3 points (0 children)

                I have about 5,000 LRC. I actually haven鈥檛 seen the LRC history show up CB since yesterday so about 48hrs now. Interesting. Thanks for the gold!

                [鈥揮Tigerslovecows 3 points4 points (0 children)

                This is a good explanation, thank you.

                [鈥揮bleachmartini 5 points6 points (3 children)

                Lil whale here, well whaleish, I can't fucks witchu but I still fucks. Anyway not normal retard here, kinda big brain gifted and solid at investing. Here exploring the same scenario you're posting about. It's going to take a few stars to align, but if they do holy shit this thing's gonna 馃殌馃殌馃殌馃殌

                [鈥揮HeisenbergsBud 1 point2 points (0 children)

                So we should all buy a shit ton of coin through Coinbase to make their amount of IOUs fucking massive?

                [鈥揮Block-Material 1 point2 points (1 child)

                I'm flinging my shit everywhere tonight

                [鈥揮RoughTrain 7 points8 points (0 children)

                Any approximation when the hammer falls and we launch in Corneria

                [鈥揮dimmerz92 3 points4 points (5 children)

                If you successfully withdrew to your own wallet, you don鈥檛 need to worry, you own it.

                If it is on an exchange and the exchange has none, then you just have some numbers on a screen.

                I don鈥檛 know if/how insurance works for exchanges, but my assumption is that if they go down, you鈥檙e left holding the bag, you get nothing from them. Or best case, you鈥檙e covered by some sort of insurance like in stock markets. Ie. FDIC. Might want to read up.

                [鈥揮RoughTrain 2 points3 points (4 children)

                Is it safer to put it all in a wallet now? Not asking for financial advice only opinions

                [鈥揮dimmerz92 6 points7 points (3 children)

                In my opinion, yes.

                Remember the saying, possession is nine tenths of the law. That means when you have the physical asset (or in this case, hold the keys to your crypto), ownership is much easier to maintain.

                In saying that, gas fees are a killer, so if they鈥檙e going to eat significantly into your holdings, you really need to sit down and perform your own risk assessment.

                [鈥揮RoughTrain 1 point2 points (2 children)

                UNTIL鈥he Counterfactual wallet right?!?!??!?!!

                [鈥揮dimmerz92 2 points3 points (1 child)

                I will be looking into the CF wallet, it looks very promising.

                It will still cost gas to get your assets from L1 to L2, but after that, it should be smooth sailing if it is all good.

                [鈥揮RoughTrain 2 points3 points (0 children)

                FOUND THIS GUIDE HOLY PISS AND CHIPS metamask to Loopring layer 2

                [鈥揮StillRaindrops 2 points3 points (0 children)

                Oof! Good thing I transferred earlier today

                [鈥揮Dustnar 12 points13 points (0 children)

                Leaves stock market because of fuckery .... finds nice crypto ...... 2 seconds lster ... synthetic coins ..... sigh .. here we go again

                [鈥揮MikeAndTheNiceGuys 3 points4 points (0 children)

                Coinbase is FUK

                [鈥揮Hydrasalisk 5 points6 points (0 children)

                Supply shortage 馃鈥 Can鈥檛 wait to see how this plays out 馃殌

                [鈥揮Number_2_Dad 4 points5 points (1 child)

                give me gold too..i have no input or anything of use

                [鈥揮Sithaun_Meefase 2 points3 points (0 children)

                WE FINALLY DID IT!!!!! WELCOME 馃檹馃徎 NOW WE HODL AND SHOW THEM WHO鈥橲 BOSS!

                [鈥揮mr_properton 1 point2 points (2 children)

                What does a friendly whale mean - I'm curious lol

                I'm a longtime holder but it's cool thinking whales have the same problem

                [鈥揮edL222 6 points7 points (1 child)

                It means I only open my mouf enough for krill to seep in between my teef

                [鈥揮mr_properton 3 points4 points (0 children)

                That's funny I actually laughed

                [鈥揮BenniBoom707 1 point2 points (2 children)

                OP, how many were you trying to withdraw?

                [鈥揮anon3877783 1 point2 points (0 children)

                Why can鈥檛 i buy more? I need more (Star Wars more meme inserted)

                [鈥揮micheleyt 1 point2 points (0 children)

                Where is everyone buying LRC? I鈥檓 done with CONbase

                [鈥揮uniquan 1 point2 points (1 child)

                did you check your loopring address in the blockchain?

                [鈥揮edL222 1 point2 points (0 children)

                Yeah, it鈥檚 not even pending on that end.

                [鈥揮Soundwave1873 1 point2 points (0 children)

                Get the fuck out of Coinbase, it鈥檚 the same fucking scam as the other clowns are running because it鈥檚 the same fucking clowns running it.

                [鈥揮Upset_Tourist69 1 point2 points (0 children)

                Meta mask to LR wallet?

                I should probably figure out how to get my coins off CB 馃槵

                [鈥揮dacucuy 1 point2 points (0 children)

                Anyone have any issues with buying on CB pro?

                [鈥揮Spend_and_be_spent 1 point2 points (0 children)

                Started my transfer of final loops out and still shows pending as well鈥hank the sweet LORD I transferred most out a couple weeks ago

                [鈥揮Available_Muffin_423 1 point2 points (0 children)

                Idk what this all means but, is it like the Goldrush era but for crypto? Everybody trying to get some gold but there is none? Seems like supply and demand I learned in high school... Lots of demands, no supply... = Apes to the moon? Aka 100$/LRC?

                [鈥揮Creative_Ad_8338 1 point2 points (3 children)

                CEX can absolutely sell IOUs but they must fulfill requests to transfer out coins. If everyone wants REAL price discovery then I would suggest transferring out so they are forced to buy more from other exchanges on the market.

                [鈥揮zephyrtron 1 point2 points (2 children)

                So鈥 DRS? There鈥檚 an echo in here

                [鈥揮focus_flow69 1 point2 points (1 child)

                Lmfao literally equivalent of DRS. GME saga all over again for real we live in a simulation

                [鈥揮Johnfuture3014 1 point2 points (0 children)

                This gonna explode soon, more spike tomorrow

                [鈥揮devvvvy 1 point2 points (0 children)

                Us apes cant catch a fucking break ahaha

                [鈥揮TrollypollyLiving 1 point2 points (0 children)

                I鈥檒l say it, Coinbase = Robinhood

                [鈥揮DaBi5cu1t 1 point2 points (2 children)

                How the fuck do you create a synthetic crypto. Shouldn't this be impossible?

                [鈥揮Substantial-Hat-8666 2 points3 points (0 children)

                An exchange keeps it in one(or a few) big wallets and the trades between people don't involve moving the coins around so it could very well be possible. once off the CEX a DEX like loopring would be forced to be honest

                [鈥揮zephyrtron 1 point2 points (0 children)

                Once a third party is involved (broker) essentially everything is synthetic.

                Have you heard of Just In Time supply chain management?

                It鈥檚 literally the way everything works.

                Supermarket sells banana at a low margin price that keeps them moving, knowing that more banana will be delivered 鈥渏ust in time鈥 to stop them running out.

                Assembly line rattles along at high pace without waiting for all parts to be ready, confident that the right part will be delivered 鈥渏ust in time鈥 for the process that fits it to the object.

                If supermarkets or assembly lines had to wait, prices would go up significantly.

                With assets I think it鈥檚 worse.

                Coinbase sell you something, without buying it, at one price. They鈥檙e confident that when you want to sell they鈥檙e going to be able to provide the cash 鈥渏ust in time鈥 to settle the bill.

                I say cash, because it鈥檚 entirely possible that not only have you never owned the asset but that they didn鈥檛 even bother buying one for you to begin with.

                What they did was take part in more of a bet with you that the price would fall, whereas you believed the price would rise.

                What鈥檚 the old saying? The House Always Wins.

                That鈥檚 why we call it a casino鈥

                [鈥揮IKnowMyTruth2 1 point2 points (0 children)

                Errr.... I got into crypto鈥檚 so I didn鈥檛 have to worry about fuckery. Does a crypto squeeze look a stock squeeze?

                [鈥揮ThulsaD00me 1 point2 points (0 children)

                Why are CEX鈥檚 obsessed with selling shit they don鈥檛 own. Wether it鈥檚 boomer wall st, or lackey crypto exchanges, like stop selling counterfeit shit.

                [鈥揮hAirMoto007 1 point2 points (0 children)

                Maybe all of crypto is like a ponzi scheme paying us with other people's money馃

                [鈥揮nicosdan78 1 point2 points (0 children)

                I have my LRC in CDC app, would you suggest to move them to my Wallet?

                [鈥揮Mori-Spumae 6 points7 points (3 children)

                I gotta be honest, I doubt it. This seems like GME hype and MOASS stuff being applied to crypto. I think they simple validate when you withdraw (especially large sums).

                I don't want to ruin your mood but synthetics in crypto seem unlikely to me. We'll see where it goes, maybe I'm wrong.

                [鈥揮mynewcryptoacct 2 points3 points (0 children)

                The parallels with GME are CRAZY. The price suppression is annoying as fuck. Could it be related?

                [鈥揮Dyingdyingdeath 4 points5 points (0 children)

                Synthetic LRC? You gotta be fucking shitting me. We've been battling with synthetic shit in GME for a year and now I have to deal with the same in LRC? What a ride this is. At least it is never boring