Bitstamp has warned it is “overloaded” as a surge of users new to Bitcoin places a huge strain on its resources.
In an announcement Wednesday, Bitstamp said the number of such users was “exerting significant pressure,” and it had shut down its telephone support altogether to divert staff elsewhere.
DOING OUR BEST: Thank you for Your patience in times of increased demand. Latest info on support and verification https://t.co/mz4OERuyXJ
Users appear to have been caught unawares, Cointelegraph received a message asking for clarification of the lack of available support from the exchange.
The phenomenon presents questions as to how to educate newbies on using and trading cryptocurrencies and suggests available resources are not as readily accessible or straightforward as might be necessary.
The issue has been compounded by the state of the Bitcoin network itself. Slow confirmation times are likely adding to the workload for exchanges such as Bitstamp through fielding complaints from users assuming the fault lies with the recipient.
Further worries came from altcoin exchange Poloniex, which said it had seen a 600 to 640 percent increase in users and transactions since January.
“Unlike many other markets, Blockchain token exchanges strive to operate on a 24/7 basis with no weekends or holidays, all while under perpetual assault,” it said in a press release Tuesday.
Poloniex has seen significant struggles in recent months as malicious actors sought to take the service offline through DDoS attacks.
PlexCoin Founder Gets Jail Time, Fine on Contempt Charge
U.S. and Canadian authorities appear determined to make an example of a recent initial coin offering.
On Friday, a Canadian court ordered a two-month jail sentence against PlexCoin creator Dominic
'Bitcoin Jesus' is 'really, really concerned' about the future of the digital currency
An early bitcoin investor said Monday the digital currency can run higher, but the hype has far outpaced its usability. "I think in the short run it can run up a lot more," Roger Ver, CEO of
Bitcoin has aspects of a bubble, but it's OK to 'play' with it: Economist Robert Shiller
Bitcoin has "aspects of a bubble" but it's almost impossible to know whether it's gone too far, Nobel-winning economist Robert Shiller told CNBC on Monday. Bitcoin has been on a wild ride
Futures Launch Puts Record Bitcoin Highs Back in Play – Yahoo Finance
Digital currency bitcoin begins trading on major exchange for first time in Chicago WLS-TVBitcoin Futures Started So Hot That Trading Had to Be Halted Twice FortuneBusiness Insider Â âCNNMoney Â â
Understanding Futures: A Primer for Bitcoiners
Lanre Sarumi is the CEO of Level Trading Field, an interactive online platform for professionals in the finance industry.
"Study the past if you would define the future." – Confucius
Bitcoin Price Back Above $17k to Set New All-Time High
The price of bitcoin has pushed back above $17,000, hitting a new all-time high on CoinDesk's Bitcoin Price Index (BPI).
As of press time, the BPI had climbed as high as $17,382.64, beating the $17
People are taking out mortgages to buy bitcoin, says securities regulator
Bitcoin is in the "mania" phase, with some people even borrowing money to get in on the action, securities regulator Joseph Borg told CNBC on Monday. "We've seen mortgages being taken out to buy
Two Firms File Bitcoin ETF Applications in Wake of CBOE Futures Launch
Two exchange-traded fund (ETF) providers have filed with the U.S. Securities and Exchange Commission (SEC) to create Bitcoin ETF products that trade in cryptocurrency derivatives.
According to the