Exchanges decision to support Bcash might backfire now and help BTC

[Proton2233]

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.

[lonelygrimm]

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.

[HTracer]

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.

[pinkflower]

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.

[ekoice]

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.

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.

[25hashcoin]

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

[marky89]

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.

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.

[Potato Chips]

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.

[marky89]

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

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.

[eaLiTy]

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.

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.    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.

[Yakamoto]

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.

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.