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I can't imagine they'll continue to ignore the third largest cryptocurrency by market cap. Also it would be crazy for them to have encouraged their users to wit
by thefalcon 9y ago
I can't imagine they'll continue to ignore the third largest cryptocurrency by market cap. Also it would be crazy for them to have encouraged their users to withdraw BTC prior to the fork if they were insolvent. I imagine it will all work out, though Coinbase loses lots of reputation points from me for by insisting on being so slow and reactionary instead of proactive like several other exchanges.
- bdcravens 9y agoIt won't be that large for long. Only reason why it's so high is the few places you can sell it aren't accepting BCH deposits; the only way you can sell is if you had BTC there prior to August 1. There's a ton of pent up demand to sell; once those exchanges allow deposits, there will be a ton of dumping and the price will fall substantially.
- deleted 9y ago[deleted]
- Animats 9y agoThat makes it worse for Coinbase. They could be held liable for losses incurred because people couldn't access their BCH to sell at the top. This is the sort of thing which may involve Coinbase in litigation over whether SEC and CFTC rules on "fails to deliver" apply to them. When a real broker does something like this, they're on the hook for customer losses.
- bdcravens 9y agoNo, they won't. You can't deposit into those exchanges yet, so if those Coinbasers had those BCH in hand, ready to sell, they wouldn't be able to anyways. In other words, if you didn't have BTC on those exchanges prior to August 1, BCH is an unsaleable asset, so that price is not relevant.