Quote from: just1nmc on April 02, 2013, 01:45:46 AM

Quote from: lukestokes on April 02, 2013, 01:33:41 AM

You've seen this, right? http://www.reddit.com/r/Bitcoin/comments/1bh3s9/coinbase_to_service_more_purchases/

Sounds to me like they are doing what they can to allow people to buy more coins. Makes sense from a business standpoint.

Yes, read this. People are over-reacting and not reading what Coinbase is saying. There is nothing negative about it.

This is an additional, and OPTIONAL feature they are trying. There is still the normal 24-hour rolling limit, where you can buy bitcoins for the current price. If they have reached the limit for the day, you have the option to put in an order, and receive the coins at the price when more funds arrive. If you don't want to do this, you can just cancel your order.

Yes, yes. But five days? Who cares.

Here's the thing about lost confidence though - it may be more the lack of transparency than the lack of liquidity....

TELL US.

Tell us how many coins you have to sell.
Tell us when you get them.
Tell us when you're out - up front on the first page of the site.

Then maybe this new, optional feature might have some value - and inspire some confidence.

The back end of the Coinbase model - committing to a price at point-of-sale and getting the money directly from your bank account - is brilliant. The implementation leaves considerable to be desired.