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It's irrelevant if Coinbase supports trading of the coin. What they should do is allow the customers to withdraw their Bitcoin Cash coins. What other cryptocur

by lawn 9y ago

It's irrelevant if Coinbase supports trading of the coin. What they should do is allow the customers to withdraw their Bitcoin Cash coins. What other cryptocurrencies have been forked of another coin gaining such a large value, placing the exchanges in the same spot? I can think of only one: Ethereum and Ethereum Classic. The same thing happened there. Coinbase was forced to allow the customers to withdraw their Ethereum Classic coins. > Again, where do they draw the line? If a forking chain survives and gains a significant share they should allow withdrawal of their coins. Not keep them, as they are doing now.

yebyen 9y ago
The fork has literally existed for 36 hours only. It is easily too soon to say whether it will survive. You may have read or done technical analysis that came back supporting the conclusion that it will survive, but if Coinbase is taking the position that it won't survive, IMHO it is much too soon to say whether or not the same thing is happening here. As a matter of fact, this can't be the same thing... Ethereum Classic was the original chain. Ethereum(') is what the developers answered with, after the famed failure of the DAO, before 28 days had passed and the damage would become irreversible. If anything, your comparison is reversed, but in my opinion it is nowhere near close to the same thing. Eth Classic tokens are called classic because it was the original chain (with the bug in it, "just like we agreed to," if I understood the story fully.)
- lawn 9y ago
  > It is easily too soon to say whether it will survive. I agree. That's why Coinbase should have said that they will wait and see if the fork will survive or not. If Bitcoin Cash continues to have a non trivial value and the fork survives Coinbase will either have to give in and give the customers their Bitcoin Cash or they will get sued and loose. > Ethereum Classic was the original chain. Ethereum(') is what the developers answered with, after the famed failure of the DAO, before 28 days had passed and the damage would become irreversible. It doesn't really matter which chain was the original. After the fork Ethereum(') became Ethereum and only after the fact did the Ethereum Classic movement begin (as you say). > If anything, your comparison is reversed Majority hash power and the market decides the "real" coin. Ethereum and Bitcoin are the real chains and Ethereum Classic and Bitcoin Cash are the spinoffs/altcoins. The fact is Coinbase weren't going to credit the customers their Ethereum Classic, but had to give in. I see history repeating itself.
  - yebyen 9y ago
    Well, BCC has about 13 blocks on their chain in 24 hours. I understand there's a technical reason for the delays, but if you thought Bitcoin Classic had a problem with transaction delays, BCC absolutely still has yet to prove it can even remotely help with that. I welcome the diversity, and a chain that has lower difficulty will be most welcome for miners as well. Hearing about some of the issues with withdrawal limits, I will not be surprised if there is a lawsuit against CoinBase. I'm personally just glad to see that, on the Bitcoin price graph, this whole event has so far been a complete non-event. (Even though I sold mine before the Hard Fork. I'm betting on ETH.)
    - lawn 9y ago
      That's a good balanced view. Note that the difficulty will be reduced, to about 20%, after the next 6 blocks. So the transaction delays should resolve themselves during the next 12-24 hours or so.

by lawn 9y ago

yebyen 9y ago

The fork has literally existed for 36 hours only. It is easily too soon to say whether it will survive. You may have read or done technical analysis that came back supporting the conclusion that it will survive, but if Coinbase is taking the position that it won't survive, IMHO it is much too soon to say whether or not the same thing is happening here. As a matter of fact, this can't be the same thing... Ethereum Classic was the original chain. Ethereum(') is what the developers answered with, after the famed failure of the DAO, before 28 days had passed and the damage would become irreversible. If anything, your comparison is reversed, but in my opinion it is nowhere near close to the same thing. Eth Classic tokens are called classic because it was the original chain (with the bug in it, "just like we agreed to," if I understood the story fully.)

lawn 9y ago
> It is easily too soon to say whether it will survive. I agree. That's why Coinbase should have said that they will wait and see if the fork will survive or not. If Bitcoin Cash continues to have a non trivial value and the fork survives Coinbase will either have to give in and give the customers their Bitcoin Cash or they will get sued and loose. > Ethereum Classic was the original chain. Ethereum(') is what the developers answered with, after the famed failure of the DAO, before 28 days had passed and the damage would become irreversible. It doesn't really matter which chain was the original. After the fork Ethereum(') became Ethereum and only after the fact did the Ethereum Classic movement begin (as you say). > If anything, your comparison is reversed Majority hash power and the market decides the "real" coin. Ethereum and Bitcoin are the real chains and Ethereum Classic and Bitcoin Cash are the spinoffs/altcoins. The fact is Coinbase weren't going to credit the customers their Ethereum Classic, but had to give in. I see history repeating itself.
- yebyen 9y ago
  Well, BCC has about 13 blocks on their chain in 24 hours. I understand there's a technical reason for the delays, but if you thought Bitcoin Classic had a problem with transaction delays, BCC absolutely still has yet to prove it can even remotely help with that. I welcome the diversity, and a chain that has lower difficulty will be most welcome for miners as well. Hearing about some of the issues with withdrawal limits, I will not be surprised if there is a lawsuit against CoinBase. I'm personally just glad to see that, on the Bitcoin price graph, this whole event has so far been a complete non-event. (Even though I sold mine before the Hard Fork. I'm betting on ETH.)
  - lawn 9y ago
    That's a good balanced view. Note that the difficulty will be reduced, to about 20%, after the next 6 blocks. So the transaction delays should resolve themselves during the next 12-24 hours or so.