51–60 of 239 posts
"Over the last several days, we’ve examined all of the relevant issues and have decided to work on adding support for bitcoin cash for Coinbase customers. We are planning to have support for bitcoin cash by January 1, 2018, assuming no additional risks emerge during that time."
Earlier quoted context omitted.
Off the chain transactions ? Then what's the point of a blockchain ? Hmmm
Blockchain remains, but it's will only contain hash of transaction script. Actual transaction script body which is heavy and take most of space in blockchain will go into separate extended block. This reduces size of transactions in main chain. You might want to check this 5 minute segregated witness explained video: https://youtu.be/OFfBRzh9HmU Or this 50 minute presentation from actual Bitcoin developer and initiat…
I've linked to a better explanation down below. It does run 12 minutes but you only need to watch the first 3 minutes for a technical answer.
https://www.youtube.com/watch?v=DzBAG2Jp4bg
[0]:https://www.reddit.com/r/Bitcoin/comments/65uriv/a_simplifie...
Dumb question: Supposing BCC eventually becomes of comparable value to BTC, does this mean everyone's fortune was just doubled?
Dumb question: Supposing BCC eventually becomes of comparable value to BTC, does this mean everyone's fortune was just doubled?
Say what you will about Coinbase, but I really appreciate their willingness to adapt and respond to customer feedback. I personally didn't want to take on the risk of creating a paper wallet and having to move my small amount of BTC from my Coinbase vault, so this is great news for me.
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.
CoinBase is a pretty damn big cryptocurrency exchange and it's based in the US and complies with US law. Mt Gox (an exchange that ceased operating a few years ago) was based in Japan and got pwned, causing the first large Bitcoin bubble burst. BTC-e just went down the same day Greek police arrested the alleged MtGox hacker, who reportedly had ties to BTC-e.
Choose your exchange carefully.
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.
Question: if Coinbase never claimed the Bitcoin Cash, would there be any grounds for a lawsuit?
The issue is that BCH belongs to the original owner of the BTC it was forked from. Despite Coinbase telling people to withdraw their BTC if they wanted the BCH a lot of people no-doubt now feel aggrieved that they're unable to access the new theoretical windfall.
Earlier quoted context omitted.
GADX is their trading platform. They don't plan on supporting trading with BCC. That being said, no, you don't own a short position. I don't see why that would even be related to this.
Because shorting means you're borrowing BTC so you can sell it off. Since you borrowed BTC, you're the one who would have received the BCC for that BTC, so are you on the hook to give that back as well? If I borrow your hen and it lays an egg and that hatches a chick, shouldn't I give you the chick back with the hen?
That being said, I think when margin trading on GADX no actual Bitcoin transactions are occurring. So, Coinbase is just doing accounting for the trades using internal assets. I think they could later on replay everything but treat all of the short positions as having exited directly at the split or something along those lines.
Say what you will about Coinbase, but I really appreciate their willingness to adapt and respond to customer feedback. I personally didn't want to take on the risk of creating a paper wallet and having to move my small amount of BTC from my Coinbase vault, so this is great news for me.
Uh okay. I will say what I will. They could have held this position from the beginning if they had any foresight at all. How hard would it have been to say something like: 'We do not plan to support Bitcoincash given the impact on operations, security, and value uncertainty. If you want complete freedom with your Bitcoincash, take out your Bitcoin. Otherwise, we may add support in the future, but the timeline will be…
> Customers who wish to access both bitcoin (BTC) and bitcoin cash (BCC) need to withdraw bitcoin stored on Coinbase before 11.59 pm PT July 31, 2017. If you do not wish to access bitcoin cash (BCC) then no action is required.
https://blog.coinbase.com/update-for-customers-with-bitcoin-...