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Do you think this mean they will support ethereum classic? I don't see how the two are different.
They added Ethereum after the fork while they had Bitcoin before the Bitcoin Cash fork: https://blog.coinbase.com/coinbase-adds-support-for-ethereum...
Dumb question: Supposing BCC eventually becomes of comparable value to BTC, does this mean everyone's fortune was just doubled?
Only if you believe BTC would've been at that same value without the fork.
No matter which competitor "wins", your assets should keep the same total value they had before.
Earlier quoted context omitted.
I saw your 3 month remote support contract position, I'm a lawyer in Miami working on my own tech projects, and would be interested in this type of temporary remote work with Coinbase while I hopefully get ramen profitable. if appropriate forward my LinkedIn to the right person: https://www.linkedin.com/in/willbrownesq/
If you are a lawyer, you should line up tens of unhappy Coinbase customers and start a class action.
So does this mean the cost of a lawsuit was deemed greater than the cost of adding support for BCC?
Earlier quoted context omitted.
they are two diferent ways to solve the same scalability problem, Btc doubles the current number of transactions by increasing the block from 1mb to 2mb and adds a new service the segregated witnesses that allows off-the-chain private transactions, Bcc simply increases the block to 8mb for roughly 8x times more transactions.
Segregated witness is nothing to do with off chain transactions. SegWit just moves some signatures around in the block so more transactions can be fitted in each block. This does have some benefits for off chain transaction networks because it changes what parts of the block are signed and need to be verified. Off chain transaction networks can still work fine with or without segwit though.
They reversed stance so quickly, it seems plausible this was a calculated move to increase news coverage of Coinbase.
Any "calculated move" that involves repeated pleas to one's own customers to withdraw all their assets from one's platform to protect themselves from that move... well, you can characterize that as well as I can.
Does this mean that customers in a short position owe Bitcoin Cash?
Matt Levine at Bloomberg wrote a fascinating piece on this yesterday: https://www.bloomberg.com/view/articles/2017-08-02/bitcoin-e... It's an interesting read even if you don't care about shorts or bitcoin at all.
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 outlined in the article, if you already held bitcoin, you could short the equivalent amount and you would still receive bitcoin cash. This trade also had the nice side effect of your exposure to fiat currency staying flat through all the potential fluctuation.
Bitcoin cash is BCH not BCC.
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.
Seconded. I've had money locked up in Coinbase, unable to sell or trade out of their platform, until I complete an identity verification. Problem is, their code seems to be buggy and even after correctly entering information, I'm told that no identity could be found. No response from support, and from /r/coinbase and their user forums, seems many (many, many!) users have the same issue. Not much point in using an exc…
Dumb question: Supposing BCC eventually becomes of comparable value to BTC, does this mean everyone's fortune was just doubled?
That's correct. If you had one btc before the fork, you now have one btc and one bch. I wonder what implications this has to the global economy. If we continue to fork will there be a global hyperinflation?