Coinbase vs. Kraken (BTC vs. BCH)

[_Miracle]

It has been interesting to witness the evolution of bitcoin.
I've mined, traded, spent and held.

Two very different emails:


COINBASE:
Dear Coinbase Customer,

We are contacting you to make you aware of recent developments in a number of proposals for technical changes to Bitcoin. All BTC stored on Coinbase will remain safe during these events described below.

The User Activated Hard Fork (UAHF) is a proposal to increase the Bitcoin block size scheduled to activate on August 1. The UAHF is incompatible with the current Bitcoin ruleset and will create a separate blockchain. Should UAHF activate on August 1, Coinbase will not support the new blockchain or its associated coin.

The User Activated Soft Fork (UASF) is a proposal to adopt Segregated Witness on the Bitcoin blockchain and could result in network instability. It is scheduled to activate at the same time as the UAHF.

To ensure the safety of customers’ funds, we will temporarily suspend BTC deposits, withdrawals, and buy/sell starting approximately 4 hours before activation of either fork.
•If you do not wish to have access to UAHF coins, and do not wish to access your BTC during the fork, you are not required to take any action.
•If you do wish to have access to UAHF coins or access your BTC during the fork, you should send your BTC from Coinbase to your external address by July 31.

For more information on these potential Bitcoin forks, please refer to this article: https://support.coinbase.com/customer/portal/articles/2844217-uahf-uasf-faq.

Thank you





KRAKEN
Hi Tanya,

We have posted an important announcement on our blog about the “Bitcoin Cash” (BCH) hard fork that will happen on August 1. Everyone should read the complete post, but here are a few highlights from the post:
•Kraken plans to support BCH on our platform for funding and trading in the pairs BCH/XBT, BCH/USD, BCH/EUR
•Clients holding Bitcoin (XBT) balances at the time of the fork will be credited with an equal amount of Bitcoin Cash (BCH) - e.g. 1 XBT will result in 1 XBT + 1 BCH
•Clients borrowing Bitcoin (XBT) for margin positions at the time of the fork will be debited an equal amount of Bitcoin Cash (BCH) - e.g. if you borrow 1 XBT you must pay back 1 XBT + 1 BCH
•Margin traders should read the blog post carefully to understand the added risk and how margin trading will work across the fork
•The BCH fork is planned for 12:20 pm UTC on August 1
•Bitcoin (XBT) funding will be halted at 11 am UTC and resumed sometime after the fork when it is safe to do so
•Trading will continue across the fork, but we may need to halt trading briefly around the time of the fork so we can adjust balances and add pairs

New Blog
http://blog.kraken.com/post/1150/bitcoin-cash-and-a-critical-alert-for-bitcoin-margin-traders/

We have just launched a major update to the Kraken blog, so when you visit you will notice that it looks very different. The new blog not only looks better, but is hosted on a new platform that will allow us to publish new kinds of content - including the Kraken Daily Market Report, published every day around 2pm PT, with a “heat map” summary of the previous 24 hours of trade action. Take a moment to subscribe to the new blog, by email or RSS!
 
 Thank you for choosing Kraken, the trusted and secure digital assets exchange.

The Kraken Team

 

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[Rahar02]

People won't take the risk during August 1st hard fork and better to hold private keys obviously.
As coinbase do not support bcc and Kraken support it, people will hold their private keys in order to get bcc when it launched.
Then store it into kraken to cash out free money, or move bitcoin from coinbase/wallet into Kraken, but beware of hard fork.
People tend to sell bcc I guess, instead of miss the opportunity to get big amount of money, and Kraken should be prepared to pay them.

[_Miracle]

I'm not rushing to own bitcoin cash.
I plan to stay with bitcoin.

[samuraijin]

I do not have a lot of bitcoin unfortunately and are not interested in bitcoin cash which today many people want to have it as a double benefit, I think the price of Bitcoin money is not worth the bitcoin cash price.

[Aleya]

People won't take the risk during August 1st hard fork and better to hold private keys obviously.
As coinbase do not support bcc and Kraken support it, people will hold their private keys in order to get bcc when it launched.
Then store it into kraken to cash out free money, or move bitcoin from coinbase/wallet into Kraken, but beware of hard fork.
People tend to sell bcc I guess, instead of miss the opportunity to get big amount of money, and Kraken should be prepared to pay them.

thank you for your helpful information. I was disappointed about it, but now i am aware about it. I have some Bitcoin in my coinbase wallet and i also agreed to keep them there.But now i realized that, it will be more helpful if i move my Bitcoin coinbase to karken.it was very helpful article dude

[_Miracle]

"very helpful article dude "
This "dude" is a little old lady ;-)
but you're welcome.

[lonelygrimm]

nahhh it's enough about this, there is already lot of big events lately, bitcoin money laundering everywhere, hacking everywhere, and now this people want to create this ? even the market is still not recover after all that incident , what do they want ? that BCC thing will only end at the bottom of market, everyone will dump it at the first hour of the birth

[LeGaulois]

Most of the people are not interested in BCH. And me too!. The few people interested are in a majority the miners, but if the mass is not interested it will be just a pump and dump. The other group interested are the one planning to speculate before it dies and the one happy because they will receive some free BCH lol