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One Of The World's Largest Bitcoin Businesses Temporarily Ran Out of Bitcoins To Sell

Rob WileNov 19, 2013, 02:42 IST

CoinbaseBitcoin had an insane day, rising more than $140, on volumes of close to 1 million transactions.

As a result, Coinbase, which acts as the market-making intermediary for hundreds of retail outlets who accept Bitcoin, reached its buying limit.

Here's the message the site left to clients an hour ago as transcribed by ycominbator:

Due to higher than normal buy volumes, we are unable to provide exact price quotes right now.

Instead of pausing buys entirely, we decided to give people the option to purchase bitcoin at the market price in a few days. Once your USD funds arrive, we will exchange them to bitcoin at the market price at approximately Friday Nov 22, 2013 at 07:56AM PST.

Note that you can cancel your order at any time up until your bitcoin arrive from the transfer history page.

The market price of bitcoin changes frequently. Below are some recent prices to give you an idea. These do not guarantee what the price will be in a few days."

Insanity.