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Update on Bitcoin Cash

blog.coinbase.com

101–110 of 239 posts

Re: Update on Bitcoin Cash

#101
post #91

Earlier quoted context omitted.

VP Ops at Coinbase We are trying to scale our support team as quickly as possible. Wish I had a better answer for you. https://blog.coinbase.com/improving-customer-support-139d99e... If you still need help with your issue, send me an email (in my profile).

VP eh. Awesome that I get a chance to write to an executive. Were you in the meeting where they decided they could roll out the Bitcoin Cash updates in 4 months? If so, did you actually think that customers would not sue within a month, or did you realize that and just were too scared to say anything to the boss? LOL. Soo many lawsuits coming. It will affect Ops. I would have helped my CEO and explained it had to get…

Posts like this one are amazing in their lack of awareness. Let us know when you find the contingency lawyer willing to represent the thin slice of people who (1) desire decentralized currency, but (2) choose a centralized exchange to store their currency, then (3) ignore that exchange's warning to withdraw if they cared about a specific, then-unknown outcome, and finally (4) appeal to the very same centralized authority in #1 to rescue them from the consequences of their own inexplicable laziness.

Especially if BCH goes up in value by the time Coinbase adds support. Will you pay them a management/performance fee for the money they made you by protecting you from yourself?

(Or are you just a rabble-rouser who never had any funds on Coinbase to begin with?)

Re: Update on Bitcoin Cash

#102
post #49

Say what you will about Coinbase, but I really appreciate their willingness to adapt and respond to customer feedback. I personally didn't want to take on the risk of creating a paper wallet and having to move my small amount of BTC from my Coinbase vault, so this is great news for me.

Why would you need a paper wallet for a small amount?

Re: Update on Bitcoin Cash

#103

What an inconvenient waste of time trying to be proactive and moving my BTC out of Coinbase ahead of the fork -- just like Coinbase said to. Would have been nice if they could have decided this before hand...

Why would you keep it there in the first place? History has shown us how unsafe it is to let someone else control your BTC.

Re: Update on Bitcoin Cash

#104
post #81
post #16

Is there a viable alternative to Coinbase? Their support is absurdly awful. Two months and they sent two auto-replies to a simple ticket that couldn't be answered by the knowledge base. They don't care about your money - so long as it's already in their vault.

Before you declare an exception to Hanlon's Razor, hear my story. Long ago, Coinbase filled a buy order I placed. Then they filled it again. They credited the BTC twice but debited the USD only once. Like a good citizen of the Earth I filed a ticket letting them know their error. I got the same treatment you did. I even emailed Brian personally and via a private list I know he's on. Years later I still have that BTC.…

Here's another story:

Long ago I tried to withdraw my BTC, but after clicking the withdrawal button the browser tab was stuck waiting for the HTTP response. So after a while I opened a second tab and tried to withdraw again. Both withdrawals went through and I ended up with a negative BTC balance on Coinbase. I sent one of the transactions back so that my balance ends up at zero again.

Re: Update on Bitcoin Cash

#105
post #60
post #55

Earlier quoted context omitted.

Uh okay. I will say what I will. They could have held this position from the beginning if they had any foresight at all. How hard would it have been to say something like: 'We do not plan to support Bitcoincash given the impact on operations, security, and value uncertainty. If you want complete freedom with your Bitcoincash, take out your Bitcoin. Otherwise, we may add support in the future, but the timeline will be…

DO you mean like they said on July 28th? > Customers who wish to access both bitcoin (BTC) and bitcoin cash (BCC) need to withdraw bitcoin stored on Coinbase before 11.59 pm PT July 31, 2017. If you do not wish to access bitcoin cash (BCC) then no action is required. https://blog.coinbase.com/update-for-customers-with-bitcoin-...

They also emailed it to current customers. samnwa, didn't you receive your copy?

Re: Update on Bitcoin Cash

#106
post #82

"We are planning to have support for bitcoin cash by January 1, 2018, assuming no additional risks emerge during that time. Once supported, customers will be able to withdraw bitcoin cash." They are so going to get sued if the price of Bitcoin Cash crashes by the end of the year. Where do they get off telling customers they can't withdraw an asset for five months? This is what lawyers call "conversion"[1]. A person w…

Bitcoin Cash is a new coin. To the extent that it's not trying to be bitcoin proper, I'm not entirely convinced they even have to allow withdrawals at all. If I went and gave out a new coin 1:1 to everyone that possesses US dollars, they would not be obligated to pass it on to the owners of those dollars.

For multiple non-legal reasons they should, unless writing the code is too much of a burden, but there's not much justification for being picky that it takes actual dev time.

Re: Update on Bitcoin Cash

#107
post #85
post #82

"We are planning to have support for bitcoin cash by January 1, 2018, assuming no additional risks emerge during that time. Once supported, customers will be able to withdraw bitcoin cash." They are so going to get sued if the price of Bitcoin Cash crashes by the end of the year. Where do they get off telling customers they can't withdraw an asset for five months? This is what lawyers call "conversion"[1]. A person w…

Before the fork they wrote: Q: Do I need to withdraw my BTC from Coinbase? ... If you wish to access your coins on the UAHF chain ... you should withdraw your BTC from Coinbase to an external wallet address under your control by July 31. https://support.coinbase.com/customer/portal/articles/284421...

Unacceptable behavior. They should immediately offer a way for people to access bitcoin cash or they deserve to be sued into oblivion.

Re: Update on Bitcoin Cash

#108

What an inconvenient waste of time trying to be proactive and moving my BTC out of Coinbase ahead of the fork -- just like Coinbase said to. Would have been nice if they could have decided this before hand...

Moving out of Coinbase took you fewer keystrokes than typing that comment.

Re: Update on Bitcoin Cash

#109
post #49

Say what you will about Coinbase, but I really appreciate their willingness to adapt and respond to customer feedback. I personally didn't want to take on the risk of creating a paper wallet and having to move my small amount of BTC from my Coinbase vault, so this is great news for me.

Why would you need a paper wallet for a small amount?

How else would I safely keep the private keys?

Re: Update on Bitcoin Cash

#110
post #33

Earlier quoted context omitted.

BCC = Block space isn't a big deal BTC = Block space is a big deal The number of auditors is inversely proportional to the size of blocks. If you don't think automated auditing of the mint by as many disparate entities as possible is a prerequisite of sound money, then you probably think BCC makes the right decisions. If you do, then BTC makes the right decisions.

There's no reason to think "as many as possible" is needed. Realistically if there's even 1000 independent entities (nodes) is that not enough? What's a realistic attack that is blocked by having another 1000 people run a node in their home? On top of that, with small blocks and 3rd party payment channels, there's very little reason for people who aren't big financial institutions to even care. Gavin Andresen put it…

> There's no reason to think "as many as possible" is needed. Realistically if there's even 1000 independent entities (nodes) is that not enough? What's a realistic attack that is blocked by having another 1000 people run a node in their home?

The same kinds of attacks that have been being orchestrated against Bitcoin for the past few years - political attacks. I run a node as a means to help foster a solution to the Triffin Paradox as much as I do to transact securely and to avoid the various attacks possible against me individually should I not run a node (like replay attacks should I trade BCC). My node is my means to enforcing monetary policy that doesn't destroy my Bitcoins, allow others to create more, etc.

> On top of that, with small blocks and 3rd party payment channels, there's very little reason for people who aren't big financial institutions to even care. Gavin Andresen put it well: "Hurray, we just reinvented the SWIFT or ACH systems."

This can be said of any solution that attempts to raise the block size as well. How different is a Bitcoin that only has a few hundred or thousand nodes due to resource requirements being prohibitive to others different than ACH and SWIFT either? Worse off, if I can't audit the blockchain because it's too big, then I have to depend on people. At least with lightning, I can audit the source of money.

> And if core hadn't been so pigheaded about even going to 2 or 4MB, we'd have solid evidence of the impact in block size.

Why get political? Can you really argue that Core is being pigheaded? Core's development has made a lot of sense to me considering that Bitcoin has been under attack for a long time now. What would you do if:

1. One of the primary developers went outside of the until-then productive channels of protocol development? [2]

2. To attempt to orchestrate a block size increase

3. At the same time multiple attacks meant to flood the blockchain with superflous transactions are started and continue [3][4][5]

4. While social media bots were employed in r/bitcoin that categorically downvoted all content not related to increasing the block size [6]

5. And, a massive bug fix that enables other means of scaling is propagandized against to the end of using it as collateral to raise the block size [7]

6. While the same people who have been attempting to raise the block size get behind a person claiming to be Satoshi Nakamoto, whom can't provide any credible proof and rather provides as convoluted as possible proof [8]

7. Who ultimately ends up on the team of the Bitcoin clone in question after appearing at a "Future of Bitcoin" conference coincidentally missing anybody related to Bitcoin's development of the past 8 years, yelling about things that no reasonable engineer can actually interpret as meaningful science or engineering. [9]

And at the end of the day, all these people call you pigheaded for continuing to develop software in such a way that I can maintain sovereignty over my bitcoins without having to ask anyone for permission. It's simply amazing to me that Core are successfully being painted as villains in this space. People are attempting to divest Bitcoin users from access to the blockchain. People are attempting to divest Bitcoin users of their ability to enforce a monetary policy realized by a token that those users provided the liquidity to make worth attacking. Core have been the only thing in the way.

And why should they get out of the way? The only argument people have is "because it will be fine and because Bitcoin needs to grow." That's not science and engineering. The internet is maintained by a few thousand entities, and can you say that it's decentralized enough? Once a year we have to black out websites so Congress doesn't destroy it. Once a week I read something about "if only we had better security at layer 2 or 3". And now we're going to make the same mistakes with the internet of money.

[1] https://en.wikipedia.org/wiki/Triffin_dilemma

[2] https://www.coindesk.com/where-is-gavin-andresen-the-quiet-e...

[3] http://www.financemagnates.com/cryptocurrency/innovation/coi...

[4] https://bravenewcoin.com/news/bitcoin-spam-attack-stressed-n...

[5] http://www.newsbtc.com/2017/03/20/appears-another-spam-attac...

[6] https://www.reddit.com/r/Bitcoin/comments/4biob5/research_in...

[7] https://medium.com/@zhangsanbtc/why-we-must-oppose-cores-seg...

[8] https://www.economist.com/news/briefings/21698061-craig-stev...

[9] https://www.youtube.com/watch?v=v1_gxvx_QGo

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