Bitcoin Cash Soars to $700, Coinbase Customers Threaten to Sue

#1

Post by abhi3 » Wed, Aug 02, 2017, 2:29 PM UTC

Bitcoin Cash Soars to $700, Coinbase Customers Threaten to Sue
fortune.com

Re: Bitcoin Cash Soars to $700, Coinbase Customers Threaten to Sue

#2

Post by jstanley » Wed, Aug 02, 2017, 2:50 PM UTC

Meanwhile, it's 12 hours since Bitcoin Cash actually mined a block.

The only reason the price is so high is because people can't make transactions to send their BCH to exchanges.

EDIT: My mistake. Originally said 20 hours. It's only 12.

Re: Bitcoin Cash Soars to $700, Coinbase Customers Threaten to Sue

#3

Post by sharemywin » Wed, Aug 02, 2017, 2:55 PM UTC

jstanley wrote: post #2

Meanwhile, it's 12 hours since Bitcoin Cash actually mined a block. The only reason the price is so high is because people can't make transactions to send their BCH to exchanges. EDIT: My mistake. Originally said 20 hours. It's only 12.

how is the price established?

Re: Bitcoin Cash Soars to $700, Coinbase Customers Threaten to Sue

#4

Post by Jenya_ » Wed, Aug 02, 2017, 2:55 PM UTC

jstanley wrote: post #2

Meanwhile, it's 12 hours since Bitcoin Cash actually mined a block. The only reason the price is so high is because people can't make transactions to send their BCH to exchanges. EDIT: My mistake. Originally said 20 hours. It's only 12.

The delay in mining was required to trigger drastic difficulty reduction (20%). More details at https://www.reddit.com/r/btc/comments/6r33fz/difficulty_adju...

Re: Bitcoin Cash Soars to $700, Coinbase Customers Threaten to Sue

#5

Post by DoctorBit » Wed, Aug 02, 2017, 2:55 PM UTC

jstanley wrote: post #2

Meanwhile, it's 12 hours since Bitcoin Cash actually mined a block. The only reason the price is so high is because people can't make transactions to send their BCH to exchanges. EDIT: My mistake. Originally said 20 hours. It's only 12.

Less than 12 hours.

Re: Bitcoin Cash Soars to $700, Coinbase Customers Threaten to Sue

#6

Post by RichardHeart » Wed, Aug 02, 2017, 2:55 PM UTC

jstanley wrote: post #2

Meanwhile, it's 12 hours since Bitcoin Cash actually mined a block. The only reason the price is so high is because people can't make transactions to send their BCH to exchanges. EDIT: My mistake. Originally said 20 hours. It's only 12.

Block monitors for BitcoinCash https://cash.coin.dance/ https://blockchair.com/bitcoin-cash/blocks http://blockdozer.com/insight/

Re: Bitcoin Cash Soars to $700, Coinbase Customers Threaten to Sue

#7

Post by sharemywin » Wed, Aug 02, 2017, 2:55 PM UTC

sharemywin wrote: post #3

jstanley wrote: post #2

Meanwhile, it's 12 hours since Bitcoin Cash actually mined a block. The only reason the price is so high is because people can't make transactions to send their BCH to exchanges. EDIT: My mistake. Originally said 20 hours. It's only 12.

how is the price established?

answered my own question:

https://coinmarketcap.com/currencies/bitcoin-cash/#markets

some exchanges support it.

Re: Bitcoin Cash Soars to $700, Coinbase Customers Threaten to Sue

#8

Post by pavel_lishin » Wed, Aug 02, 2017, 3:01 PM UTC

> Coinbase has clearly stated the company is not taking customers' Bitcoin Cash for themselves

So effectively, it's as if they just burned all of the Bitcoin Cash they were holding?

Re: Bitcoin Cash Soars to $700, Coinbase Customers Threaten to Sue

#9

Post by JohnTHaller » Wed, Aug 02, 2017, 3:01 PM UTC

They had the opportunity to move their funds and plenty of notice.

Re: Bitcoin Cash Soars to $700, Coinbase Customers Threaten to Sue

#10

Post by discombobulate » Wed, Aug 02, 2017, 3:02 PM UTC

jstanley wrote: post #2

Meanwhile, it's 12 hours since Bitcoin Cash actually mined a block. The only reason the price is so high is because people can't make transactions to send their BCH to exchanges. EDIT: My mistake. Originally said 20 hours. It's only 12.

The popular press are crypto-illiterate.