Coinbase relent's on Bitcoin Cash!

shewoff

Senior Member
webby
mm1
Joined
May 13, 2015
Location
northeast
It is amazing what a week will do for the BTC fork.

Dear Coinbase customer,

We wanted to give our customers an update on the recent Bitcoin hard fork. You can read more about what a digital currency fork is here:

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Forks enable innovation and improvements to digital currency and we believe that we will see an increasing number of forks in the future. We expect this to be a vibrant and innovative community.

When a digital currency forks, it creates a new digital asset. Adding new digital assets to Coinbase must be approached with caution. Not every asset is immediately safe to add to Coinbase from a technical stability, security, or compliance point of view.

Our top priority is the safety of customer funds and we spend extensive time designing, building, testing and auditing our systems to ensure that the digital asset we support remains safe and secure. We may not always be first in adding an asset, but if we do, you can be sure that we’ve invested significant time and care into supporting it securely. We believe this is the best approach for us to maintain customer trust.

In the case of bitcoin cash, we made clear to our customers that we did not feel we could safely support it on the day it was launched. For customers who wanted immediate access to their bitcoin cash, we advised them to withdraw their bitcoin from the Coinbase platform. However, there are several points we want to make clear for our customers:


Both bitcoin and bitcoin cash remain safely stored on Coinbase.
Customers with balances of bitcoin at the time of the fork now have an equal quantity of bitcoin cash stored by Coinbase.
We operate by the general principle that our customers should benefit to the greatest extent possible from hard forks or other unexpected events.
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 made this decision based on factors such as the security of the network, customer demand, trading volumes, and regulatory considerations.

We are planning to have support for bitcoin cash by January 1, 2018, assuming no additional risks emerge during that time.

Once supported, customers will be able to withdraw bitcoin cash. We'll make a determination at a later date about adding trading support. In the meantime, customer bitcoin cash will remain safely stored on Coinbase.

Thank you,

Coinbase Team

Maybe this will put an end to this silly act of finance.Peace Out! Out Of The Mist! shewoff
 
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shewoff

Senior Member
webby
mm1
Joined
May 13, 2015
Location
northeast
Hey weesie,I think I can help.What BTC Cash does is basically the same as BTC itself.

Except they are doing for lower fee's and faster confirmation times.It is a bit different code and it for the MOMENT is and does appear a bit more practical than BTC .But I must remind all that BTC was applauded for the very same reason on it's start.

IMOHO I will stay with having my cash in the two different acct's at Coinbase and wait and see.The only other alternative is to move your Bitcoins to a non-compliant site.In other words cash out!
But we as gamer's need a fast and easy way to fund our play and to get paid when and if we are successful in our endeavor's.

Also to end on a good note. BTC Cash also is using a different kind of or just different blockchain than Coinbase is willing to accept.It has appeared to me that Coinbase was unwilling to take the chance with it's member's money and loyalty.On a new unproven currency.
I do hope this helped weesie? And if not just click on the link in my post and it will show you all of the known info on BTC Cash and the fork of BTC. Peace Out! Out Of The Mist! shewoff
 
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