151–160 of 239 posts
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.
Taking 5 months to enable trading doesn't seem like "adoption"
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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…
This suggestion stems from either dishonesty or ignorance and there is no reason to take part in that kind of mudslinging.
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Taking 5 months to enable trading doesn't seem like "adoption"
You should visit the headquarters of some slow-moving enterprises.
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It's a quite a bit more complicated than just increasing the block size to 8mb, actually, and in reality Bitcoin Cash ended up using one of SegWit's key changes in modified form. The default Bitcoin signature algorithm has quadratic performance due to repeated hashing and if the block size is increased above 1MB an attacker can use this in a fairly nasty DoS attack that, worst case, might be able to fork the blockcha…
Just to test my understanding: Segwit essentially moves the signature in a transaction (and changes what is being signed). This fixes most "transaction malleability" problems. Transaction malleability means that one of the nodes in the bitcoin network can change some of the information in the transaction. It can't change where the money is coming from, where the money is going, or how much the transaction is for, but…
Question: if Coinbase never claimed the Bitcoin Cash, would there be any grounds for a lawsuit?
They don't have to claim it. Purely by controlling the addresses that held BTC at the time of the fork, Coinbase controls the BCH that magicked into existence. The issue is that BCH belongs to the original owner of the BTC it was forked from. Despite Coinbase telling people to withdraw their BTC if they wanted the BCH a lot of people no-doubt now feel aggrieved that they're unable to access the new theoretical windfa…
There's no telling how Coinbase operates internally. You can't just assume that 1 customer == 1 permanent bitcoin address in Coinbase's backend. Perhaps they shift funds around all the time into new addresses, without keeping references/keys to the old ones. In that case, BCH balances would be lost, with no way to restore them to the 'owner' at the time of the fork.
Luckily (for would-be BCH holders) that seems to not be the case, but I think Coinbase deserves credit for going the extra mile when they could justifiably say that it is not their problem to deal with.
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.
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).
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They should have seen this coming (from the ETC split) and come up with this policy ahead of time, instead of scaring customers into withdrawing or providing any doubt that using Coinbase might mean losing out on significant value. All they had to say was "BCC support for withdrawals will happen within 30 days if BCC trades above X% of BTC". Or basically anything to the effect of "if BCC is worth anything, we'll give…
They didn't adapt. BCH created a new op code for replay protection, so it's trivial to create a transaction to at least cash out BCH. It just doesn't take 5 to change a bit in a transaction before signing. Also they can just copy open source code that does this already well.
I have been a long time coinbase user. I have been very unhappy with their support. I have been unable to add additional funds to buy both additional ethereum and btc from their site, even after contacting them repeatedly about this ... but never getting a reply. I did multiple identity verifications and connected bank and credit cards. No luck in being able to transact properly. Bitcoin Cash was a forcing function a…
Don't let centralized authorities keep your private keys.
Coinbase could easily avoid, or be unable to, provide BCH balances to their bitcoin holding customers. There's no telling how Coinbase operates internally. You can't just assume that 1 customer == 1 permanent bitcoin address in Coinbase's backend. Perhaps they shift funds around all the time into new addresses, without keeping references/keys to the old ones. In that case, BCH balances would be lost, with no way to r…
You are correct, but this would be a new level of stupid for a leading cyrptocurrency exchange that actually tries to build a reputation and appearance of quality, safety, compliance and being a "legit" service for financial institutions etc.