21–30 of 429 posts
They had the opportunity to move their funds and plenty of notice.
Hahaha. You try this as any supplier of any service advertising custody of anything: "We will grab what would otherwise be yours, but as a result of our custody can be made to be ours. Because $WORDS"
They could have simply ignored it altogether and continue business as usual like nothing had ever happened.
Now after the fork, if people want to convert BTC to BCH, they have to go through a intermediary currency, just like many banks won't convert USD to $unknown_currency sometimes.
It doesn't surprise me there are talks about lawsuits, cryptocurrencies will have a hard time shaking off all the speculators and scammers.
They had the opportunity to move their funds and plenty of notice.
And Coinbase was pretty good about getting pretty much all of the massive exodus of coins out of their system and out of cold storage in time. And they were pretty explicit that they wouldn't be supporting the BCC chain. I get it people are upset about possibly missing out on money, but Coinbase handled this about as good as they could.
I do regret not informing others I know about the fork, though. They most likely still have their coins on Coinbase.
Sorry but what exactly is Bitcoin Cash? It seems like it's a fork in the BTC blockchain, but what prompted it and what gives it any sort of value, let alone a $12*10^9? Is it somehow technically superior? Is the move going to be to have BTC and BTC Cash exist side by side? Or are they going to fight for the market?
Both sides (small Vs big) have economic incentives behind them, making the argument extra vitriolic. But larger blocks allow on chain growth, keeping it peer to peer without requiring any 3rd parties. (And the answer that 8x more bandwidth and storage makes it infeasible for enough people to run nodes rings false.)
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.
Earlier quoted context omitted.
Hahaha. You try this as any supplier of any service advertising custody of anything: "We will grab what would otherwise be yours, but as a result of our custody can be made to be ours. Because $WORDS"
There's nobody grabbing anything, if you find evidence that Coinbase is transacting BCC with customers' funds when they said they simply were not supporting the fork, please share with the group!
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.
Coinbase did the right thing by warning their users beforehand that they wouldn't work with BCH. They could have simply ignored it altogether and continue business as usual like nothing had ever happened. Now after the fork, if people want to convert BTC to BCH, they have to go through a intermediary currency, just like many banks won't convert USD to $unknown_currency sometimes. It doesn't surprise me there are talk…
I could accept Coinbase saying they dont plan on supporting it in the long term, but its kind of ridiculous to think that Coinbase can make a blogpost, and potentially appropiate millions of dollars of the coinbase users and thats fine because it was said before.
Not to mention that I've been particularly locked out of the platform for months due to the slow and fuzzy account recovery process, and that the delays on it didnt allow me to retreive the coins in time between the notice, the lockup and the account recovery process time.
So no, I dont find Coinbase's position at all tenable.
Earlier quoted context omitted.
Hahaha. You try this as any supplier of any service advertising custody of anything: "We will grab what would otherwise be yours, but as a result of our custody can be made to be ours. Because $WORDS"
There's nobody grabbing anything, if you find evidence that Coinbase is transacting BCC with customers' funds when they said they simply were not supporting the fork, please share with the group!
> 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?
no - they're just not doing anything with it.
"We're not taking it, we're just not giving it to you."