4 ms·
There is nothing confusing, your reasoning is simply unsound: the market price (not the value) of some traded altcoin is completely irrelevant to Bitcoin. Even
by pera 9y ago
There is nothing confusing, your reasoning is simply unsound: the market price (not the value) of some traded altcoin is completely irrelevant to Bitcoin. Even the price of Bitcoin itself is irrelevant to the Bitcoin protocol. There is no law, anywhere in the world, mandating cryptocurrency exchanges to adopt altcoins after they reach some price point, and exchanges are not obligated to trade new altcoins either (which requires adapting their infrastructure, so it makes sense if they decide to not doing it), so, why exactly should it matter that Bitcoin Cash is being traded somewhere else for X% of the current price of Bitcoin? It simply doesn't.
- lawn 9y ago> why exactly should it matter that Bitcoin Cash is being traded somewhere else for X% of the current price of Bitcoin? It simply doesn't. Because Coinbase is keeping the coins the customers could have used to gain the X%?
- pera 9y ago1) In the same way how a bank use your cash deposits to do whatever they want with those bills, Coinbase can do the exact same thing because they never promised to their clients that they, the clients, were the owners of some private keys. This is basically the end of the story here. 2) Coinbase never said that they would adopt Bitcoin Cash. If these customers were really interested in doing some sort of investment they could have withdrawn their funds somewhere else months ago. Scared of using Bitcoin? then don't! sell your btcs for fiat and transfer it to your bank account, then transfer that to some other exchange that decided to adopt Bitcoin Cash.
- lawn 9y ago1) Banks can not do whatever they want... 2) Months ago? Oh, you mean a couple of days before the fork when Coinbase announced they wouldn't support Bitcoin Cash?