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 must have missed the memo. Did coinbase specify other cryptocurrencies (specifically) that they would be supporting in the future?
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?
I think the key difference is that the initial value is not gains, it's much more like income.
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…
Increasing the block size doesn't seem to me like a long-term solution for Bitcoin's scalability problem. From the tone of your post though, it seems like you're mind is unlikely to be changed about Bitcoin Cash.
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.
This is rough. I've run into a lot of people who have been locked out of their accounts, with the same kind of vague "specialist working on it" message being copy pasted over and over into support message. Hopefully I can contact someone under the valid pretext of asking about "all of us." It's concerning.
If this was so obvious to you in the hindsight, you could have made a ton of money by backing this with investments.
Only if he knew that it wasn't obvious to anyone else ;). I guess people that have been playing with crypto currencies for a long time (like me) have been having a lot of "wtf, why now" moments lately. I find myself explaining blockchains at birthdays all of a sudden. No one cared whe I first started voicing my enthusiasm over this tech in 2011 or so and then again in 2014. I didn't get rich from it, I really don't u…
> I really don't understand why people want BTC just at the point the transaction costs are insane ...
The value of bitcoin increased tenfold in 1 year. They just want to get rich.
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're already earning million's USD per day [0]. I doubt that they would risk that lucrative business by doing something illegal as front-running. That being said, they really should fix the performance of their platform. Yesterday they reduced their API rate limits to be able to handle the load. That's just annoying for traders. [0] https://coinmarketcap.com/exchanges/volume/24-hour/#gdax 24h volume = $2,179,471,7…
Has it ever been tested in court that the laws that make various forms of trading halts a tool to protect fairness in conventional markets can be reliably applied to an exchange of virtual toy tokens? Overloaded front-end servers that stall the bulk of sell orders while willing buyers get through to be matched with "preferred sellers" using lots of careful handholding seems very likely to me in a bitcoin panic, it could happen without any premeditated ill intent at all.
I sent out my bictoin cash to a wallet and the transaction url gives me a 404. Coinbase posted this message on their page : "Partially Degraded Service: Outgoing Bitcoin Cash transactions are currently not being sent. Our team is investigating."
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…
Increasing the block size doesn't seem to me like a long-term solution for Bitcoin's scalability problem. From the tone of your post though, it seems like you're mind is unlikely to be changed about Bitcoin Cash.
Can you elaborate on why you think that increasing the block size doesn't seem like a solution for scaling?