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Buy, sell, send and receive Bitcoin Cash on Coinbase

blog.coinbase.com

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Re: Buy, sell, send and receive Bitcoin Cash on Coinbase

#241

Post by rogual »

cbstory wrote: post #143
ireallydontcare wrote: post #125

I've had the worst customer support experience with coinbase. I'd advise not using their service. They aren't equipped to support their customers. I'm out of pocket $1000 and have been in a "queue" for the last couple of months.

Same Unfortunately if you want timely support from cb you have to behave kind of unsavory. Look up their higher level staff on LinkedIn, then email them. You can also do some creative Google searches to find their personal email and contact them there. Contact them and they will transfer you to priority people who can actually do stuff.

You can also submit a complaint to the CFPB. I did this and got my money back within a week.

Re: Buy, sell, send and receive Bitcoin Cash on Coinbase

#242

Post by schrodinger »

bencollier49 wrote: post #234
schrodinger wrote: post #217

Earlier quoted context omitted.

Wouldn’t it not count as income until you sold it for USD? In which case you wouldn’t be liable for every fork, just the ones you benefitted from.

That's the way it's treated in UK law, but apparently in the US, you're liable for the tax as soon as you have access to the asset. I think the same thing causes people problems with stock options. Seems like an odd bit of legislation.

Hmm, are you sure? I thought that if you held bitcoin for over a year, it would be taxed as capital gains? Meaning you don't realize the value until you sell it?

Re: Buy, sell, send and receive Bitcoin Cash on Coinbase

#243

Post by pc86 »

petercooper wrote: post #8

All customers who held a Bitcoin balance on Coinbase at the time of the fork will now see an equal balance of Bitcoin Cash available in their Coinbase account. Pardon the naive question, but does this mean Coinbase users who held Bitcoin have essentially "doubled their money"?

Well, "all customers" is relative. I held some BTC over the 8/1 date mentioned in their release, and should have BCH to support it. Currently the balance is 0.0. I've submitted a support request and asked my lawyer to draft a letter but at this point I'm assuming CoinBase stole five figures from me (based on today's average price) until proven otherwise.

Re: Buy, sell, send and receive Bitcoin Cash on Coinbase

#244

Post by zerostar07 »

twodave wrote: post #30

Why is anyone surprised by this? Coinbase sent an email out months ago saying they'd do this by Jan 1, 2018. Dear Coinbase customer, ... We are planning to have support for bitcoin cash by January 1, 2018, assuming no additional risks emerge during that time. ... Thank you, Coinbase Team Am I crazy? Edit: let me answer those who think I am crazy. BTC literally tripled overnight a few weeks ago when there was "specula…

they are selling the image of a responsible company. they should have set a specific date, it was a no-brainer. people should not trust them anymore as the amazon of exchanges.

Re: Buy, sell, send and receive Bitcoin Cash on Coinbase

#246

Post by mtrycz »

jondwillis wrote: post #165
electic wrote: post #164

It is interesting to see all the people up in arms here. Everyone here is assuming that no one knew that Coinbase was going to add Bitcoin Cash. That simply isn't true. For the last two months, they have said they plan to add it. In fact, Bitcoin Cash was about 280 dollars and it was common knowledge Coinbase was going to support it. You, the employees, and everyone else could have loaded up if you wanted to. Lastly,…

I was watching the sell wall, and it built up to 12,000 slowly over the period of at least 45 minutes, probably because the ticker price said $8499 on Coinbase. Where this all starts to smell a little funny is how badly and strangely this was rolled out, how they allowed some trades, and how the price crept up 50-100% before the announcement. Someone said they accidentally released some bitcoin cash UI feature that t…

They did release an API for BCH, which makes sense to release early, for merchants.

I don't know of UI slips, but that'd be incompetente, yes.

Re: Buy, sell, send and receive Bitcoin Cash on Coinbase

#247

Post by j_s »

kough wrote: post #210
throwaway12351 wrote: post #85

Does anyone else find it highly suspicious that Coinbase goes down whenever there is any major movement in prices? You can explain this as just the natural result of too much traffic, but that's not convincing. This is a business valued at over 1 billion dollars that has been operating for years. If this is still a problem, it's either unbelievable incompetence, or because they see no reason to fix it. And here is a…

They aren't frontrunning their customers. Their whole brand is being the one trustworthy option in a world of scammers; they already make a fuckload of money off of transaction fees, no reason to throw out that trust and ruin their cash cow. It's just a scaling problem, turns out it's hard to make Ruby on Rails handle their needs.

& MongoDB

Re: Buy, sell, send and receive Bitcoin Cash on Coinbase

#248

Post by ambicapter »

Cthulhu_ wrote: post #235
Improvotter wrote: post #220

Coinbase announces support for a cryptocurrency and the price skyrockets. I can't believe people just start to buy a cryptocurrency because they suddenly can more easily.

> I can't believe people just start to buy a cryptocurrency because they suddenly can more easily. Well now you know. Speaking for myself, I can't be bothered to upload my ID to another exchange again. I probably should because I haven't been able to send money to Coinbase in forever but eh. Coinbase is very simple to use, and you should never underestimate the value of convenience. It's one of the things that made A…

Coinbase is very simple to use until they flag you for no reason and then you're fucked. Source: Me, trying to access the GDAX account that supposedly comes with a coinbase account.

Re: Buy, sell, send and receive Bitcoin Cash on Coinbase

#249

Post by gambiting »

imsofuture wrote: post #19

Maybe focus on fixing the broken bits of your site, like ID verification.

Yep. I've opened an account while in Netherlands, which was a mistake because now my account is showing "Netherlands" as the country. I have, of course, tried their "change country" flow, where you upload the ID and after verifying the country of that ID the country on the account should be changed. Except that I did this 3 times now, each time successfully verifying my British-issued ID, and my account country is still Netherlands. I've opened a support ticket more than a week ago and still have no reply.

Re: Buy, sell, send and receive Bitcoin Cash on Coinbase

#250

Post by tobiaswk »

jpatokal wrote: post #222
Improvotter wrote: post #220

Coinbase announces support for a cryptocurrency and the price skyrockets. I can't believe people just start to buy a cryptocurrency because they suddenly can more easily.

It's also a vote of confidence. Many people, including me, assumed that Bitcoin Cash would rapidly become worthless and sold it off immediately. Having the largest Bitcoin exchange in the world support it means it may actually hang around for a while.

If I may ask... Why did you have this assumption? I'm asking you specifically because like you said many sold their Bitcoin Cash.

I suspect those who didn't were mostly the ones with deeper insight of the underlying technology. When the fork occurred full blocks had already been a problem for well over a year. Segwit was not the solution and overcomplicated the blockchain. This is not debatable anymore. Bitcoin Cash abolished this "overengineering" and simply increased the block size. Disabled RBF making 0-confirmations a thing again. And lastly just recently fixed the DAA. Many think that Bitcoin Cash is closer to the original whitepaper by Satoshi. I'd argue that is true.

Currently the Bitcoin has had 100k+ unconfirmed transactions for weeks... and a ever growing mempool. You cannot transact or move your coins confidently without paying large fees. 500 satoshis/byte or about 30 dollars. The original vision is completely destroyed. Sentences like "store of value" are now the term used to describe Bitcoin. Very far from what the Bitcoin used to be. https://bitcoin.org/en/ is little more but a lie now.

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