Bitcoin Cash Soars to $700, Coinbase Customers Threaten to Sue

Re:Bitcoin Cash Soars to $700, Coinbase Customers Threaten t... by gtirloni on Wednesday August 02, 2017 @11:10AM (#14911153)

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 talks about lawsuits, cryptocurrencies will have a hard time shaking off all the speculators and scammers.

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Re:Bitcoin Cash Soars to $700, Coinbase Customers Threaten t... by conanbatt on Wednesday August 02, 2017 @11:15AM (#14911189)

Sure, 4 days before the fork and also locking up withdrawals and setting time limits.

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.

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Re:Bitcoin Cash Soars to $700, Coinbase Customers Threaten t... by bitJericho on Wednesday August 02, 2017 @11:23AM (#14911246)

Perhaps you would like to switch to my exchange? http://bitcoinsexchange.itmustbetrue.com

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Re:Bitcoin Cash Soars to $700, Coinbase Customers Threaten t... by kgwgk on Wednesday August 02, 2017 @11:28AM (#14911297)

Bitcoin sex change? Are you affiliated with expert sex change?

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Re:Bitcoin Cash Soars to $700, Coinbase Customers Threaten t... by smlsugarlumps on Wednesday August 02, 2017 @11:30AM (#14911321)

I don't trust a site named bitcoin sex change

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Re:Bitcoin Cash Soars to $700, Coinbase Customers Threaten t... by bitJericho on Wednesday August 02, 2017 @12:21PM (#14911888)

You can trust it. Its homepage has 3 columns full of text.

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Re:Bitcoin Cash Soars to $700, Coinbase Customers Threaten t... by MichaelGG on Wednesday August 02, 2017 @11:18AM (#14911208)

Not really. They should have taken a clear, objective stance, one they could apply to all forks. Like, if the volume of the fork reaches X and the value over 7 days is at least Y% then within 30 days we will offer withdrawals. That way fewer people would have made withdrawals from Coinbase before the fork, and fewer people could claim bad faith on Coinbase part.

If BCC keeps up at least 10% of BTC price, I'm guessing Coinbase will end up at least doing withdrawals.

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Re:Bitcoin Cash Soars to $700, Coinbase Customers Threaten t... by AgentME on Wednesday August 02, 2017 @04:42PM (#14914420)

I got an email plenty early this month that seemed to have a clear stance applicable to forks in general: withdraw my bitcoins before the fork if I wanted altcoins from any fork.

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Re:Bitcoin Cash Soars to $700, Coinbase Customers Threaten t... by milcron on Wednesday August 02, 2017 @06:43PM (#14915345)

What date was 'early'? I didn't get the email until 4 days prior to the fork.

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Re:Bitcoin Cash Soars to $700, Coinbase Customers Threaten t... by ghthor on Wednesday August 02, 2017 @11:27AM (#14911287)

And this makes perfect sense. If they didn't do this every wallet of BTC would be completely duplicated. This forking thing doesn't make sense, BCH should essentially be a fresh blockchain, there is no reason to build on top of the accumulation of BTC transactions. The only value there is of keeping the existing chain is if BTC fails, then exchanges could begin honoring BTC wallets that exist on the BCH chain. But that even sounds like it's open to scamming/manipulation.

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