Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Update on Bitcoin Cash

blog.coinbase.com

Post reply on HN
Print view View original

171–180 of 239 posts

Re: Update on Bitcoin Cash

#171

Post by thanksgiving »

colept wrote: post #93
sowbug wrote: post #81

Earlier quoted context omitted.

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.…

Do a search for "Coinbase transaction fees." You'll see theres no major announcement that in April 2017 Coinbase changed it's policy and stopped paying for up to 25 transaction fees on the blockchain. Now I have no problem with this practice in itself - it was a great feature - but my problem lies in that I didn't find out until my API payments started failing. Here's where they actually announced it: https://blog.co…

Slightly off topic but I think transaction fees should be as close to zero. No, I am not talking about lightning. If we need to start fresh and design a new system that allows it, I am all for ditching Bitcoin altogether as well. It will have served a purpose in that we have learned a lot.

To me, low transaction fees is more important than even anonymity or decentralization. My understanding of the problem is that we need to somehow encourage everyone to run a full node. We've decided a transaction fee that goes to "miners" is a good way to do that.

Well, my problem is that now miners want higher transaction fees. We have inherently opposite goals and as such I cannot be allied with miners at all.

Re: Update on Bitcoin Cash

#172

Post by qhwudbebd »

gragas wrote: post #84

Honestly, I don't understand why everyone trashes Coinbase. I work very closely with numerous crypto exchanges for a living (I write code which interfaces with them). Outside of work, I've personally chosen to open a Coinbase account and trade on GDAX. Coinbase is, in my opinion, the most reputable exchange out there by far.

People trash Coinbase because they deserve it: they are a disgrace. You can wait not for days, but for months without a response to support tickets. No company that is unable to communicate with its customers should be holding money on their behalf.

Re: Update on Bitcoin Cash

#173

Post by tmat »

blazamos wrote: post #28
colept wrote: 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.

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).

your team is to dumb to be in charge of other peoples money.. Bought cannabis seeds(in a legal state) with coins I bought at coinbase(sent to another wallet, then purchased..) 3 years later I get an email saying my account has been closed due to purchases I've made... LOL coinbase can go to hell.

Re: Update on Bitcoin Cash

#174

Post by repomies691 »

aedron wrote: post #156

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…

Anyone can create a new altcoin which starts with bitcoin balances at certain point of the history. If every bitcoin exchange has to support every new altcoin that does that, it would be lots of hassle. I don't think legally the exchanges would be required to provide features for the new altcoins, but it is nice from them if they do.

Re: Update on Bitcoin Cash

#175

Post by discombobulate »

gragas wrote: post #84

Honestly, I don't understand why everyone trashes Coinbase. I work very closely with numerous crypto exchanges for a living (I write code which interfaces with them). Outside of work, I've personally chosen to open a Coinbase account and trade on GDAX. Coinbase is, in my opinion, the most reputable exchange out there by far.

> and trade on GDAX.

So you don't trade on Coinbase yourself?

Edit: It's almost they have one exchange for ppl who know what they're doing, & one to fleece noobs (3.9% on BTC/USD. I think).

Re: Update on Bitcoin Cash

#176

Post by Snackchez »

sowbug wrote: post #92
Snackchez wrote: post #83

Maybe I'm just not getting something in my slow brain, hopefully someone here can explain. How does taking out my BTC out of CoinBase ensure I will receive an equivalent amount of BCH? I bought 200$ worth of BTC in the past from CB, and promptly moved to an Exchange. Does that mean I will get whatever amount of BTC I purchased back then in BCH? If so, why? I understand there was a fork, but I don't get why I'm entitl…

You got a lot of replies, but I don't see one critical point addressed. You said you moved from Coinbase (no internal caps) to an exchange. So we can't tell whether you'll get any BCH. If you don't know the private keys for your funds, then you can't spend those funds. You can only ask whoever has your funds to spend them on your behalf. Coinbase hasn't implemented the infrastructure to spend from anything but the ma…

I still don't understand how removing my funds from CB into a wallet VS into an exchange has any issue on wether or not I'll get equivalent BCH. Also, I don't understand how removing my funds from CB (into a wallet, I guess) will guarantee them giving me BCH VS having not done anything and just left the money on CB. It seems the latter would have been easier for them to debit me BCH, no?

I'm so confused.

Edit: if I know my private keys for my BTC, does that mean they are the exact same for BCH? If so, how would I then "acquire" said BCH?

Re: Update on Bitcoin Cash

#177

Post by mlindner »

So many people in this thread complaining about coinbase when I've had no issues with them. You people complaining about coinbase must have not been around when Mt.Gox was the only option. If you want to talk about lack of support... Now that's lack of support.

Re: Update on Bitcoin Cash

#178

Post by kobeya »

thanksgiving wrote: post #171
colept wrote: post #93

Earlier quoted context omitted.

Do a search for "Coinbase transaction fees." You'll see theres no major announcement that in April 2017 Coinbase changed it's policy and stopped paying for up to 25 transaction fees on the blockchain. Now I have no problem with this practice in itself - it was a great feature - but my problem lies in that I didn't find out until my API payments started failing. Here's where they actually announced it: https://blog.co…

Slightly off topic but I think transaction fees should be as close to zero. No, I am not talking about lightning. If we need to start fresh and design a new system that allows it, I am all for ditching Bitcoin altogether as well. It will have served a purpose in that we have learned a lot. To me, low transaction fees is more important than even anonymity or decentralization. My understanding of the problem is that we…

Then make something else. Bitcoin is not designed to be a low/zero transaction fee system. It makes clear architectural choices in support of decentralization at the expense of scalability. Don't destroy bitcoin because you wanted something else.

Re: Update on Bitcoin Cash

#179

Post by cesarb »

koolba wrote: post #39

So does this mean the cost of a lawsuit was deemed greater than the cost of adding support for BCC?

My impression from reading their announcements before the fork is that it had always been their intention, if the new coin had any value after the fork, to later allow all users to withdraw their "cloned" balance. The transaction freeze around the fork plays into this: not only it protects them against any instability, but it also is a convenient time to snapshot everyone's balance, and to keep a copy of the private keys for future use. They probably planned the balance and keys snapshot since before the first announcement, but just didn't want to promise anything (remember that for instance the fork originally didn't have strong replay protection, which was added just a few days before the fork).

Since the fork didn't die immediately, they are going ahead with the "allow everyone to transfer their BCH out" plan. Had it died, they probably wouldn't bother.

Re: Update on Bitcoin Cash

#180

Post by revmoo »

phodo wrote: post #131

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…

I opened a ticket two weeks ago as somebody stole my identity and made an account with my email. They still haven't responded.
Post reply on HN