Bitcoin Forum

I just got this in the email.  Here is an excerpt of the most important message in the email:

"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."

Hopefully, the value of BCH will sustain even though it is unlikely.

I believe the rest of the exchanges will try to help Bitcoin Cash get traction by not opening their exchanges for BCH deposits to disallow people to dump their coins. It is also in their best interest because if a coin dies that means lesser profit for them. BCH/BTC has the potential to be a volume heavy trading pair.

Not sure if the exchanges will purposely do that, but I do not mind that idea.  I do not like the idea of splitting Bitcoin because it create uncertainty with high risk.  But what's done was done and, right now, I rather to see it survive with high value.

Let us wait and see whether Coinbase supporting BCH will be of great help to the pricing of BCH. That would be almost half a year from now.

yup indeed. lol

haha, what happened!
i liked how they took a stance even though many didn't like or agree with it. and i liked the fact that they clearly announced it ahead of time.
but this change of heart this soon is very strange. there must be something happening. the "lawsuit" thing in the news seems like a bullshit to me though. i doubt it had any effect. so what do you think?
and by the way here is the link: https://blog.coinbase.com/update-on-bitcoin-cash-8a67a7e8dbdf

By trading volume, you mean lawsuit volume.  LOL

I think that supporting bch in coinbase will result to a better service and it will be more reliable for other users. Well coinbase is like having 2 wallets. Bitcoin and ethereum. And now it is great for them to add another one for all of us. We will no longer rely on poloniex. Well it has so many issues right now. But coinbase is so trustworthy that makes many people rely on it.

The hype of BCH is over and the price is now depleted. Coinbase will not support this once the trading volume is lower as the volume since the BCH was release.
Later it will be just a normal altcoin just like what happened to BTU. Many are hoping that BCH price will be same as BTC which is far to happened in my opinion.

Many of the exchange platform have already enabled deposit/withdrawals for bitcoin cash like bittrex, yobit and you can see already many have dumped their free BCH.

This looks quite promising but I think coinbase will dump it hard on other exchanges before buying it for customers.  ;D

So... Coinbase will support BCH in the next FIVE months. It's likely that BCH will be trading in the sub-$100 range by 2018, or much sooner.

Lol so basically they're saying they could supported it now but won't. They're going to wait and see if it's even worth listing at all which obviously it won't be.

they needed to support their business and see if their will be support that will come from any exchange that will accept this coin but if there's nothing
maybe they will also goes with the flow so until then we won't know if this will help bch or not.

they are too late for the money train, so this whole volume thing is funny to me.
Oh look another site was trading 140 million of this coin on the first day, maybe we should look into this again... is how I see this "news"

guess what, I am still looking at 11/20 confirmations for a deposit of BCC from 6hrs ago... aint gonna replace no currency. By 2018 they will be sending us an email about another coin from another mother. lol

Suckers, these guys.

Let the buyer beware is dead. The free market is dead. Coinbase's business has been held hostage by customers that were to unaware, uneducated, or unmotivated to take control of their own money.

This is sad news. What next, refundable transactions for those that lost their private keys?

Well, you know what happens when you assume...

i read this too but i wonder why coinbase is planning by the end of the year? but all in all, from BCH, all bitcoin user which have bitcoin in their wallet can have BCH too by free and the amount is the same as the btc they have. but i think maybe coinbase will getting late to show off their support because the other market is already open the pair for BCH.

Maybe. To be honest, if you asked me a week ago, I thought it would be dead on arrival. But now that difficulty has dropped and the network is stable, it's starting to look more and more like the ETH/ETC situation. In both cases, holders on the "main chain" possess immediate sell liquidity, and lots of it.

But once the initial dumping is done, then what? If it is profitable to mine, it definitely won't die.

I think it's more so that they are extremely cautious. And legally, their top priority is retaining secure custody of customer bitcoins. BCH is an afterthought compared to that.

It was similar for Ethereum Classic. They dragged their feet at first, saying they wouldn't support. Eventually they agreed to pay users their ETC, but it took several months. It sucks for customers, but that's the long and short of it when it comes to Coinbase/GDAX.

The answer is simple : They know a lot of people are going to dump BCH now and the price is being pumped by the BCH supporters in the beginning. When all the hype has passed and everything has been dumped, BCH will trade at much lower prices and they would not have to take such an huge knock.

I predict that BCH will be trading at between $20 to $80 per coin soon and that would be manageable for most exchanges.

They took the safest option to protect their business and to see how successful BCH will be, before they step in to reap the trading fees.

Yes, I think that if they decided to support it, say, tomorrow, they would've done it, for bch is still on top. However, after a few months it won't make much sense, for the community will decrease along with the price. It is stange that coinbase lets people see they have bch, but doesn't let to do a thing with them. I think this is rather bad for their reputation, because they sort of make people hold the money, right?

Oh so they changed their statement. Now they're gonna support  BCC after seeing those pumps. Saying they would support but not actually now. They must be afraid that BCC might lose value.

I agree that the price of BCH will drop to double digits by the end of the year.  However, they will continue to survive as their hashrate is 25% of what BTC has - even tought that % diminishing a lot through time and it also depends on the total reward the miners can receive.  In the longer term, the price might go back to low triple digit from general acceptancy by the exchanges and investors.  Roger Ver may start to promote BCH to become a broadly accepted currency like BTC.

By the way, everyone were thinking that Coinbase will start to support BCH at the end of the year, but it may be or may not be true.  Coinbase said "by" the end of the year and not "at" the end of the year - which means that it may happen any time before the end of the year.  They said that to allow themselves  more time to test their platform with the new coin.  This experience will be very benefiticial to them as they can anticipate the next coin split better in the future.



 

If there is about BCH and there exchanges then biitrex has already accepted that deal and now they are accepting now it is all about coinbase they said that they will launch a project on that in the ending of year but there developers said that we should not wait. Because other exchanges are giving green signal to it so we should work on it right now.

If Coinbase exchange do not have plans accept Bitcoin Cash, they will miss a huge volume trading on their exchange. Let's check Poloniex exchange after listed Bitcoin Cash until today, the volume trading on their exchange has been improved while hot trend trading "ICO" token on Bitttrex exchange.

if coinbase really adds bch, it would lead to intense competition between bch and btc, which may be detrimental for bitcoin community as a whole.

I am seeing this as a growth of value in BCH. I am starting to feel that BCH will  start challenging BTC maybe in two years if it continues having this recognition. I think it's good to start gathering some BCH also, as this is looking a interesting growth for BCH

Bittrex was the first well known exchange to support BCH.Coin base said that it won't support BCH and that if customers want free BCH coins,then they would have to withdraw their bitcoins and store in separate wallet.It made coin base customers angry and most of them said that they would even file a law suit against coin base.I think this position taken by its customers and survival of BCH has made coin base to reconsider its policy and has decided to support BCH from the next year.

I believe BCH won't be any help to coinbase or neither coinbase will be helpful to BCH in increasing the vokume of trade. This coin is getting all the attention because it's new and most of the new investors think that it will grow big in the coming days. But that's not true at all, coinbase always believed this fact and they never wanted to support the BCH at all in the first place. This addition is all because of customer force and regulatory authorities who made them to take this decision. But still it ps long terms to go and we should await further confirmation. Free BCH is always going to be dumped for the USD for sure. That's not great help.

Yeah coinbase took BCH as real enemy of the blockchain when it was being produced at the time of split. However, due to tremendous loads by customers of coinbase they have taken this decision. The reason was very simple because others gotten free BCH and they made big bucks out of it, coinbase users stated behind and there was no free egg for them. This created bad impression about coinbase. So due this reason coinbase might have thought that they will loose the customer base leading to crapy wallet. Good decision though and truly deserves it.

Things are slowly happening for BCH, but I still think that without a big support from casinos and other industries that give "utility" for the BCH the will continue doomed. There are some important guys supporting it, and I think they will continue to keep it alive, by pumping it's price from time to time. But the thing is, the difficulty to mine the coins can easily be "exploited" by miners. The BCH are being generated at a much higher speed than BTC, and there is no practical use for them yet, so there will be a lot of coins available and nothing to do with them. Their price will probably drop, unless for some hard pump from those guys.

good job coinbase  ;D your business strategy is really well played, but that's "trading volume" got me :D

In next year, there is so much possibilty the price of BCH will be deep lower than now, they maybe already sold out all the BCH they got from the fork, and then buy it again when they think the situation already under control  :-* but yeah, business is business, who want to lose in business ?

Is this one of the reasons for the coindase to support BCH later this year because it sees the currently rising blockcain and what will happen if this situation really happens?
BCH will be more popular or maybe vice versa.