Bitcoin Forum

Why would you want to support a new Alt coin, if you know people will only be hyping/pumping the price in the beginning and other people will be dumping it for BTC and Fiat? This will have a significant impact on your bank balance, when you allow trades during this "Pump" period.

Yes, you might get the advantage that new users will join your exchange, because you are the only exchange accepting Bcash trades, but those users will leave once they dumped their Bcash for cash or BTC.

If I were a exchange owner, I would just sit back and wait for other exchanges to take the knock and jump in later when the price is much lower. < Like Coinbase is doing >

It makes no sense to be a early adopter of a coin that are pumped to shit in the early days. ^hmmmmm^

The BTC price will also be less volatile with everyone buying & selling BCC/BCH and not buying & selling BTC.

However there are BTC holders who want to get their BCC which is rightfully theirs. An exchange has no right to withhold it from them because the exchange doesnt own them.

If you dont want them you can dump them anytime or give it away.

It is good to know that Coinbase is cautious about jumping into supporting both coins. We are still not sure how reliable/secure is the bigger block chain/network, as well as the effect of Segwit in the coming weeks.

The price doesn't matter much for the exchange owners. All they care about is the revenues. The total fee can range from 0.40% to 1.00% (buyer+seller) per trade. As long as they are receiving this fee, no one is going to complain about it.

I beg to differ. If all your trades goes one way : BCC being dumped for Fiat/BTC then your overall trade volumes will decrease and you will lose out on fees. This will happen early on, when people will be dumping BCC to cash in on the free coins. Exchanges that did not prepare for that, will run into problems with liquidity to honour the sell orders, if there are not buy orders for BCC.

I would much rather jump in, when the crazy stage has passed and Bcash are trading at normal levels.

The other problem is capacity : Coinbase systems cannot even handle the load when BTC trading reach higher "Peak" prices. Why would it be able to handle the load, if everyone will be signing on to dump their BCH/BCC?

Let's be realistic, exchanges must wait until the storm has passed to save themselves from embarrassing situations. ^hmmm^

I kind of agree, I think one of the main reasons Coinbase is now supporting BCH is due to the fact that they thought they could just keep the BCH like the did with ETC and now realise they can't.

They will fully support it in Jan so if it BCH falls to pieces then it should done so by next year.

no, whether people are selling or buying the exchanges make profit either way. the fee is on the orders that get filled it doesn't matter what type of order it is. a buy order gives the same fee to the exchange as a sell order. for example each dump that takes place on bittrex is giving them 0.5% fee of its volume (2x 0.25%)

this is why they add coins with high volume even though they are shit like ethereum.

Someone, an average investor, is buying up all that BCH that gets sold on an exchange such as Bittrex. The exchange gets a cut of each transaction for themselves. Considering the crazy amount of BCH coins that have passed through there the past few days, I'd say that Bittrex have made a killing off the fork.

The losers were the ones that bought the coin when it was at it's peak value. You likely won't see the coin trading back at that level for a very long time, if ever. Especially if Bitcoin loses it's market dominance to an altcoin.

Your argument is right but at the same time you cannot predict the nature of what the market will do to a particular coin and that's because in the cause of pump and dump, the exchange site will gain more customers which means more revenue in terms of charges they levy on them and like I said, one cannot predict but with time it might get accepted and don't forget that the coin will be riding on bitcoin popularity.

I have read from various articles that BC is stealing Bitcoins, even if you see electrum wallet warning, it's clearly mentioned it's a risk to claim the coins. I am surprised that exchanges have decided to support this coins, it's a shame. Coinbase.com has so far not extended its support and I hope other exchanges follow suit. I agree with op here, this coin shall not last long, it shall disappear very soon, there is only one king in the crypto world and that is btc.

Spoken like a true non-business man indeed.


Bitcoin Cash is not stealing anyones coin. People are just too dumb to check where they are sending their coins to. The person you are talking about downloaded an "electrum" wallet from a non official site. They got burned. That can happen to any coin. Theres lots of people that have had their Bitcoin stolen that way, I never hear people blaming Bitcoin for that. So neither should you.

I suppose it makes sense if you can take a big piece of the total market share. With the initial rush to dump, there is a lot of volume to potentially soak up. I'm sure this is why Bitfinex announced support for this alt. They didn't want Kraken taking the volume.

Bitfinex has other reasons to support it. They need to remain relevant and keep volumes up. They have been silent about their complete inability to transfer fiat money in or out of the exchange, so they are focusing on new alt markets and gimmicks. Now "ethfinex": https://www.bitfinex.com/ethfinex

if they are careful i don't think it can. the risk that i can think of is the deposit risks like double spending or other serious bugs that can lead to loss of funds in their wallets.
so far they have kept the deposits disabled which saves them a lot and removes any incentive to perform a 51% attack. in the future when they enable it this may become a problem but like any other altcoin with small hashrate they can just ask for more confirmation to reduce the risk.

Exchange fees is freeeeeee moneeeeeeeeey guys  ;D Why would they want to miss out on those?

I think the decision of the bourse to support the bch is not done without a certain calculation, so they can see how big the money spin will be with the new coin, so that it will have an impact on their own profit rather than backfire for them. And I do not think this will affect the bitcoin at all.

I wont,I am in. Once the sell off frenzy has died, i will be buying too. Some people are destined to be broke, they are busy picking sides instead of positioning themselves to make lots of profits.

The network is much more stable now because difficulty retargeted downwards. That means the risk of double spending is also much lower now. Accordingly, I believe most exchanges are now accepting deposits (albeit with a larger number of confirmations than BTC deposits).

I think a 51% attack at this point is unlikely. Aside from being unethical (Bcash users will be attacked), the fork just isn't much of a threat. I'm much more concerned about the November hard fork threat from btc1...

Agree with you, exchanges get money from the fee and actually the exchanges only provide the place to trade and the people itself that also buy the bitcoin cash. So what backfire that exchanges got ? I think exchanges are the most profit one though. Even if the bitcoin cash down fall so hard, it will not affect the exchanges.

double spend and 51% attacks have nothing to do with stability of the chain. it has to do with how much hashrate that chain has and how much other people have in comparison.

for example if an cryptocurrency has 100 unit of hashrate and there is total of 200 unit of hashrate available in total elsewhere there is a big risk of 51% attack because that 200 can switch and attack it. that is what happens with a lot of small altcoins.

now some real numbers:
right now bitcoin has about 6 Exa hash (6*10^18)
and according to bitinfocharts BCH has 400 Peta (400 * 10^15 = 0.4*10^18)
(hope i didn't make a mistake :D) and that is 6.66% of total
https://bitinfocharts.com/comparison/hashrate-btc-bcc.html

To be honest Bch has too much support for a new coin. Behind this there must be big companies and huge hedge holders and market twisters. For one coin to hit one billion market cap early in its inception speaks volumes.

Now constantly come to contradictory information. Some exchanges refuse to support bitcoin with cash, others are paused and waiting for clarification. Those who trade in that currency do not work on Commission because I do not believe that people will buy these coins.

Exchanges doesn't care with every coin price, they are only third party, so what they do only prepare some resource for trading then find some coin with highest volume and Walaaaaa magic happening, every transactions is profit
ex:poloniex with their tons of Sh!!!T coin.

Just look at Cryptocompare trading volumes for Bcash. On Bitfinex only BCH volume 24H is more than $18 million.  It's roughly thousands dollar trading fees per hour. I don't think it's a revenue that exchange business would shrug off as negligible.

Poloniex in the next exchange to announce that they are supporting BCC and will have it for trading by August 14. We have never seen instant support by the exchanges for an altcoin before.

Coin base investors ar already not happy with its decision of not supporting BCC.Some have even threatened that they would even sue against it for not giving them their free BCC.Kraken had also taken the same decision before.But now,Coin base has said that it would allow BCC trading in order to attract more customers who are willing to sell their BCC as they are not able to find any platforms or exchanges to sell BCC.Poloniex has already said that they would wait and watch and then decide.But till now,they have not announced any thing.

It's called Bitcoin Cash. There is already another bcash project so leave them out of it.

Poloniex supported ETC pretty much instantly, actually. Within a day, I believe, and they definitely encouraged other exchanges to add it by doing so. I'm surprised that with all these exchanges supporting BCC, and with the price still managing to stay in the $200s, that Bitcoin continues to rally to new highs. Such interesting action. I would have thought more people would be scared by a network split (even if a small one). I was wrong yet again it seems. :D

well op has a point but in the first place for an altcoin to grow, it needs an exchange site particularly with large volume as we all know trades is the most efficient way to circulate

it so i don't see any any reason why would an exchange refuse to add in in their list of cryptocoins. the exchanges profits from the trading fees so if people continues and wants

to do trade with this particular coin they will gain profits, and thats another reason why it would benefit the certain exchange.

There's a lot of money to be made from the trading fees, sure. I figured that the reason Poloniex might not want to add it at first was that their major markets all trade against BTC. So any potentially severe network split or confusion around what "BTC" is threatens them from a custodial and legal standpoint. I think now that it's pretty clear that BCC can't overtake BTC, they are fine with adding the new market.

How does any of these things will hurt an exchange,i really do not get what you are talking about here,do you really think that the coins being dumped are being purchased by the exchanges.  :D  :P traders are picking up the coins that are being dumped and the exchange is earning a good amount of money as commission and so it is a win situation for the exchanges and not the other way around.

It might not be negligible value that can be generated, but you have to remind yourself that a lot of exchanges are not as big as Bitfinex and thus their expected revenue from BCC fees would be relatively lower than a few thousand per hour. But at the same time exchanges, when they take fees for both buying and selling, need to be sure they will actually make money off of selling their BCC and they won't lose the money they were gleaning on fees.

It makes sense really, no point throwing what might end up a shitcoin onto an otherwise reputable exchange. There might not be a long enough life for BCC to justify adding it to most exchanges.