Coinbase is planning to support BCH by The end of the year!

[Bitcoin Guy]

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.

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[Wind_FURY]

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.

[Bitcoin Guy]

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.

[Manuj]

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.

[xmod4u]

We made this decision based on factors such as...   trading volumes...

yup indeed. lol

[pooya87]

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

[sylance]

We made this decision based on factors such as...   trading volumes...

yup indeed. lol

By trading volume, you mean lawsuit volume.  LOL

[Xenrise]

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.

[BlockEye]

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.

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.

[piloder]

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.

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.

In the meantime, customer bitcoin cash will remain safely stored on Coinbase.

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

[nkmt]

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.

[cpfreeplz]

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.

[Caladonian]

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.

[xmod4u]

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

[HabBear]

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?

[Foxpup]

"assuming no additional risks emerge during that time."

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

[ethereumhunter]

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.

[exstasie]

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.

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.

[marky89]

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.

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.

[Kakmakr]

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.