181–190 of 239 posts
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the reason BCH is worth quite a bit is because it's illiquid because very few exchanges support it. the only reason you or anyone else wants it is to sell it for USD
Have you been paying any attention to the reason the fork happened in the first place?
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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.
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.
Coinbase has three major advantages: (1) incredible marketing, (2) flashy and good UX, and (3) (claimed) safety via cold storage.
The first (1) is a counter argument in my book, (2) is irrelevant, and (3) only matters if you let them control your private keys, which is stupid and the antithesis to Bitcoin.
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…
By taking your BTC out of Coinbase and into a wallet you control directly (on your computer or phone) before the fork, you have the corresponding private keys during the fork, which after the fork can be used to transact the same value independently on both the BTC and BCH chains.
> 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?
What matters is what happened at the precise moment of the fork. If at that moment your BTC was on an exchange, the corresponding BCH is at that same exchange. What happens with it depends on the exchange: some might treat it as non-existent, some might credit it to you in full (but it might or might not be possible to trade and/or take it out of the exchange), some might credit it to you partially based on a confusing formula which gets changed after the fact, and some might even take all the BCH for themselves.
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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 k…
Yes, they are exactly the same. To "acquire" the BCH, do the following: first, as a safety measure, "spend" it all on the BTC chain, by sending them all to a new wallet you also control; after that, these private keys have no BTC, but still have all the BCH. Then, you have to find a BCH wallet software which is compatible with your private key format, and import the private keys into it. That's it.
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I wonder if this was a big part of why coinbase decided not to support BCH initially. This really is an interesting situation. In the hours approaching the BCH fork an absolutely massive number of short positions were opened on various bitcoin exchanges, but the price remained steady. I assumed people were shorting in expectation of a crash, but the outlined scenario makes much more sense. Similarly to the trade outl…
Who was loaning BCH? What exchange could you borrow BCH on?
Anyone who borrowed BTC may have implicitly borrowed BCH. Suppose Person A owns shares in OldCo. Person B borrows those shares and sells them short to Person C. OldCo spins out NewCo. On Thursday evening, you go to bed with 1 OldCo share in your account; Friday morning, you wake up with 1 OldCo share and 1 NewCo share.
Bought Person A and Person C own OldCo shares, and so expect to receive one NewCo share. The company provides one. Who provides the other? The short seller. Presumably by buying Person A's NewCo shares. Same thing happens with dividends.
So if you borrowed BTC pre-fork and returned it post-fork, you're may find yourself owing BCH. Shorting is complicated, which is why I'm bemused by its proliferation around a blockchain that doesn't even natively support lending or interest rates.
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…
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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…
More or less, except that the reason Bitcoin Cash happened is that SegWit seems almost certain to be activated at this point as a result of interesting political wranglings. The other subtle detail is that older nodes see a stripped version of SegWit blocks with the "witness" parts of the transactions removed, and it's this block that they apply the 1MB limit to. So while the signatures technically aren't part of a s…
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.
It was a real problem.