Coinbase won't support UAHF/Bitcoin ABC

[krishnapramod]

There is a minute uncertainty over Bitmain or ViaBTC's UAHF.

1. There would be no UAHF/Bitcoin ABC if BIP 141 locks in. Only if it fails and UASF gains majority.

2. Regardless of BIP 91 locking in Jihan/ViaBTC might go ahead with UAHF on August 1. He is dumb enough to do it.

Coinbase released a statement yesterday that they won't be supporting Bitcoin ABC.

The current User Activated Hard Fork (UAHF), including BitcoinABC, is a proposal to alter the Bitcoin protocol by creating a new version of the Bitcoin software, which will operate on its own, separate blockchain. The UAHF is incompatible with the current Bitcoin protocol and will create a separate blockchain. Should the UAHF activate on August 1, Coinbase will not support the new blockchain or its associated coin.

https://support.coinbase.com/customer/portal/articles/2844217-uahf-uasf-faq

Customers that desire access to UAHF coins should withdraw their bitcoin from Coinbase by July 31.

https://twitter.com/coinbase/status/887703206435758080

In short, this is not restricted to Coinbase only, your coins aren't safe in any exchange until there is no uncertainty. If UAHF happens more popular exchanges might take a similar stance, maybe only a few exchanges would allow dumping Bitcoin ABC with Jihan the sole buyer.

[pooya87]

i don't think the chances of that happening are that high. meaning they probably won't go through with it.

as far as exchanges go, someone will list it eventually. you can see BTU is still on bitfinex and the dump that happened from ~0.2BTC price down to ~0.03BTC and then the daily volume of $20 for some time!

people will treat it as air drop. something like what Stellar or Byteball or 100 other altcoins do. they give free altcoin tokens to bitcoin holders and they dump them as soon as they get them to get more BTC

BCC or others simply don't have the support.

[Vishnu.Reang]

people will treat it as air drop. something like what Stellar or Byteball or 100 other altcoins do. they give free altcoin tokens to bitcoin holders and they dump them as soon as they get them to get more BTC

Byteball is going strong despite the frequent airdrops. But I don't know what happened to Stellar Lumens. It has lost almost two-thirds of the market cap during the last one month. So can't predict what will happen to the UAHF version of Bitcoin.

[25hashcoin]

Really fucking stupid move. I will never use them again.

[noobinscrypt]

have no idea why anyone wants to UAHF bitcoin, to force the block size higher. ppl have no clue, just support the well tested segwit solution and support that block size increase before moving to another

[25hashcoin]

have no idea why anyone wants to UAHF bitcoin, to force the block size higher. ppl have no clue, just support the well tested segwit solution and support that block size increase before moving to another

Segwit does not scale.

https://nchain.com/en/blog/illusion-scale-segregated-witness/


The solution is http://www.bitcoincash.org

On August 1st, bitcoin will fork and if you have control over your bitcoin private keys you will also have BitcoinCash coins.

[Kakmakr]

have no idea why anyone wants to UAHF bitcoin, to force the block size higher. ppl have no clue, just support the well tested segwit solution and support that block size increase before moving to another

Segwit does not scale.

https://nchain.com/en/blog/illusion-scale-segregated-witness/


The solution is http://www.bitcoincash.org

On August 1st, bitcoin will fork and if you have control over your bitcoin private keys you will also have BitcoinCash coins.

Yea, but the Lightning Network does and that is all that matters. Nobody wants CW and his nChain nonsense, so stop promoting it on a Bitcoin forum. ^ffs^ We just hope that the new code will make spam attacks more expensive and we will see less congestion in the MemPool for a while, until the Lighting Network can be implemented to fix all the scaling needs for the future. We also hope these fools that are behind these spam attacks will run out of funds. ^grrrrrrr^

[25hashcoin]

have no idea why anyone wants to UAHF bitcoin, to force the block size higher. ppl have no clue, just support the well tested segwit solution and support that block size increase before moving to another

Segwit does not scale.

https://nchain.com/en/blog/illusion-scale-segregated-witness/


The solution is http://www.bitcoincash.org

On August 1st, bitcoin will fork and if you have control over your bitcoin private keys you will also have BitcoinCash coins.

Yea, but the Lightning Network does and that is all that matters. Nobody wants CW and his nChain nonsense, so stop promoting it on a Bitcoin forum. ^ffs^ We just hope that the new code will make spam attacks more expensive and we will see less congestion in the MemPool for a while, until the Lighting Network can be implemented to fix all the scaling needs for the future. We also hope these fools that are behind these spam attacks will run out of funds. ^grrrrrrr^

LN is vaporware and CSW is most likely Satoshi and nChain follows Satoshis vision completely. You sound like you've been drinking the kool-aid on here and reddit.

[RoommateAgreement]

bitmain is just wasting their time if they go through with it! unless it is just a publicity stunt to scare BIP148 supporters.

this thing has no support and will never gain any support.
there are 2 groups of people, those who understand things and those who don't.
the first group won't go for it because they understand. and the second group won't because they will go with what core devs (who they have been trusting for years gives them not what a known scammer called CW with his nChain pretends to give them)

[hello_good_sir]

bitmain is just wasting their time if they go through with it! unless it is just a publicity stunt to scare BIP148 supporters.

this thing has no support and will never gain any support.
there are 2 groups of people, those who understand things and those who don't.
the first group won't go for it because they understand. and the second group won't because they will go with what core devs (who they have been trusting for years gives them not what a known scammer called CW with his nChain pretends to give them)

^ this.

Bitcoin ABC is not even a hard fork of bitcoin in my opinion, it's more of its own cryptocurrency.

Plus, there is going to be a solo mine for several days(can't remember the exact figure from the top of my head). So it's definitely not going to be supported widely apart from Bitmain itself, in my opinion.

It's not surprising that Coinbase has made this decision. There is probably going to be a number of very very small forks as well after 1st August which everyone will probably ignore.

[Kohloe]

It's good to get Bitcoin Cash.

If the miners won't accept Segwit2x Hardfork users can go to Bitcoin Cash. Thus, more pressure on the Miners not to do a hardfork.


(edit: and we do know miners don't like segwit and segwit2x at all)

[williamuk]

I bet Coinbase will take BitcoinABC or BitcoinCash and dump it if they really plan to hardfork just like what they did with ETC

I suspect this is it, the dumping being more the objective than the stealing of customers assets that enables it. Aren't they owned by the same company that owns Blockstream?

Either way I wonder who would be dumb enough to stay with such an unreliable exchange after that 

[magneto]

i don't think the chances of that happening are that high. meaning they probably won't go through with it.

as far as exchanges go, someone will list it eventually. you can see BTU is still on bitfinex and the dump that happened from ~0.2BTC price down to ~0.03BTC and then the daily volume of $20 for some time!

people will treat it as air drop. something like what Stellar or Byteball or 100 other altcoins do. they give free altcoin tokens to bitcoin holders and they dump them as soon as they get them to get more BTC

BCC or others simply don't have the support.

exactly. Nobody will treat this as the real bitcoin or even a competitor of bitcoin, it's just something that has really just gone wrong with Bitmain's thinking in my opinion. It's not even a fork. It's a damn altcoin and one with a premine iirc(correct me if i'm wrong people). Either way i think that i don't think bitcoin abc/bitcoin cash isn't something anyone should hold/invest in.

If you have your coins in a private key that you hold then great, you have free coins that you can dump as soon as you receive them. Coinbase's decision in my opinion is by no means shocking to anyone at all.

Though it's not surprising that viabtc is accepting this coin as a trading pair... After all they and bitmain are probably the only two companies to endorse it...

[Xavofat]

as far as exchanges go, someone will list it eventually. you can see BTU is still on bitfinex and the dump that happened from ~0.2BTC price down to ~0.03BTC and then the daily volume of $20 for some time!

It's already listed on a couple of exchanges, including ViaBTC.  The difference is that it's something that can happen without majority support, and will happen on August 1st regardless.

When trading BTU futures, they were trading a worthless token that would never exist.

people will treat it as air drop. something like what Stellar or Byteball or 100 other altcoins do. they give free altcoin tokens to bitcoin holders and they dump them as soon as they get them to get more BTC

I'm afraid you shot yourself in the foot with that argument.  Byteball has been quite successful and has a lot of support.

[deisik]

bitmain is just wasting their time if they go through with it! unless it is just a publicity stunt to scare BIP148 supporters.

this thing has no support and will never gain any support.
there are 2 groups of people, those who understand things and those who don't.
the first group won't go for it because they understand. and the second group won't because they will go with what core devs (who they have been trusting for years gives them not what a known scammer called CW with his nChain pretends to give them)

^ this.

Bitcoin ABC is not even a hard fork of bitcoin in my opinion, it's more of its own cryptocurrency.

Plus, there is going to be a solo mine for several days(can't remember the exact figure from the top of my head). So it's definitely not going to be supported widely apart from Bitmain itself, in my opinion.

It's not surprising that Coinbase has made this decision. There is probably going to be a number of very very small forks as well after 1st August which everyone will probably ignore.

They are going to mine it for 48 hours (if I'm not mistaken)

Regarding whether Bitcoin ABC is a hard fork or a separate cryptocurrency, these two options aren't mutually exclusive. In other words, it is a hard fork (since the coin is based on the copy of the Bitcoin blockchain) which could potentially lead to a separate (from Bitcoin) cryptocurrency. Moreover, if it gets enough traction and popularity, the process of forking could even be called a Bitcoin split retrospectively, especially if a devastating dumping war follows soon thereafter (since that would effectively mean a split)