by twodave on 12/20/17, 1:28 AM
Why is anyone surprised by this? Coinbase sent an email out months ago saying they'd do this by Jan 1, 2018.
Dear Coinbase customer,
...
We are planning to have support for bitcoin cash by
January 1, 2018, assuming no additional risks emerge
during that time.
...
Thank you,
Coinbase Team
Am I crazy?
Edit: let me answer those who think I am crazy. BTC literally tripled overnight a few weeks ago when there was "speculation" about futures contracts. Price swings in the crypto world happen over the least sensible things. My assumption was that the news from Coinbase was actually helping prop up BCH all this time, and that may have been true. I guess I took for granted that it was a sure thing.
by colinbartlett on 12/20/17, 2:31 AM
So if I sell my newfound BCH today, which was birthed from thin air a few months ago, but originates from BTC I bought years ago, is it short term capital gains or long term?
by electic on 12/20/17, 5:53 AM
It is interesting to see all the people up in arms here. Everyone here is assuming that no one knew that Coinbase was going to add Bitcoin Cash. That simply isn't true.
For the last two months, they have said they plan to add it. In fact, Bitcoin Cash was about 280 dollars and it was common knowledge Coinbase was going to support it. You, the employees, and everyone else could have loaded up if you wanted to.
Lastly, there is no real incentive for employees to load up on BCH to make a quick buck. In the first seconds of trading a massive sell wall of 12,000 orders emerged and that would drive the price down dramatically.
by djezer on 12/20/17, 2:38 PM
I sent out my bictoin cash to a wallet and the transaction url gives me a 404. Coinbase posted this message on their page : "Partially Degraded Service: Outgoing Bitcoin Cash transactions are currently not being sent. Our team is investigating."
by Improvotter on 12/20/17, 10:48 AM
Coinbase announces support for a cryptocurrency and the price skyrockets. I can't believe people just start to buy a cryptocurrency because they suddenly can more easily.
by wickedlogic on 12/20/17, 1:48 AM
I suspect they have some fixing to do yet... common prices listed on indexes are ~$3,539.82 USD at the moment. Coinbase UI has the UI pegged at $8,499.03 .. with console errors, and ssl to be distrusted errors.
by massaman_yams on 12/20/17, 8:02 AM
Based on data from the gdax trades api, in the approx. 2 minutes and 40 seconds this was live on gdax yesterday, about $15.5 million USD of trades occurred, at a volume weighted average price of $5,080.
by ireallydontcare on 12/20/17, 3:57 AM
I've had the worst customer support experience with coinbase. I'd advise not using their service. They aren't equipped to support their customers. I'm out of pocket $1000 and have been in a "queue" for the last couple of months.
by throwaway12351 on 12/20/17, 2:43 AM
Does anyone else find it highly suspicious that Coinbase goes down whenever there is any major movement in prices?
You can explain this as just the natural result of too much traffic, but that's not convincing. This is a business valued at over 1 billion dollars that has been operating for years. If this is still a problem, it's either unbelievable incompetence, or because they see no reason to fix it.
And here is a worst-case theory, by way of speculation not accusation. Being down whenever there is a lot of movement lets them beat all of their customers. When there is a crash, they can sell before their customers can. When there is a boom, they can buy before before their customers can. And because such a big portion of the market trades through them, this is more than trivial gains.
I have no way of knowing if this is what's happening, but it seems to be worthy of discussion, given how many people are placing trust in them. They don't really have an adequate explanation for the constant downtime, and I think they owe one to their customers.
by petercooper on 12/20/17, 1:05 AM
All customers who held a Bitcoin balance on Coinbase at the time of the fork will now see an equal balance of Bitcoin Cash available in their Coinbase account.Pardon the naive question, but does this mean Coinbase users who held Bitcoin have essentially "doubled their money"?
by imsofuture on 12/20/17, 1:16 AM
Maybe focus on fixing the broken bits of your site, like ID verification.
by seanwilson on 12/20/17, 7:45 AM
For other exchanges that support large numbers of other coins, how are they able to do this and Coinbase cannot? I'm assuming there's some development and risk involved but what work is involved in adding a new coin?
by Sharma on 12/20/17, 1:15 AM
Now getting error message: Bitcoin cash purchases temporarily disabled.
by godelski on 12/20/17, 6:47 AM
I wonder if they're accepting the fork because transaction issues that core has. I mean, neither can handle the transaction load right now. I wonder how long till another fork.
by H99189 on 12/20/17, 1:46 AM
Would anyone know why a small purchase from Coinbase would still be pending two full weeks or more after funds had left my checking account? Their support isn't too helpful. I've made other successful buys and sells, but one transaction is just stuck pending it seems and they're not being very helpful.
by JepZ on 12/20/17, 1:41 AM
Best chance to buy Bitcoins in weeks ;-)
by kc10 on 12/20/17, 4:11 AM
I wonder what will be the next asset they will launch on coinbase. I sure can buy up now and wait :-)
by QML on 12/20/17, 2:49 AM
All this cryptocurrency talk has inspired me to understand the innerworkings of exchanges -- so how does a company like Coinbase scale to meet the demands of new customers? Surely they're not the first company to deal with this problem.
by fernandopj on 12/20/17, 12:46 AM
Up 50% from past 24hs. Previous ATH was ~2500, now at USD 3100 at Coinbase.
I was wondering what triggered it. This morning was already at a high price ~2100. It was somewhat stable around ~1700 just two days ago.
by beebmam on 12/20/17, 4:45 AM
Insider crypto trading is a giant issue and it's extremely fucked up.
by rootsudo on 12/20/17, 2:04 PM
Yesterday it was hell as I was caught on the other side of a trade.
I've been successfully day trading making $300/400 a day, and it's great. But I missed out.
Missed out.
And had to hold overnight.
by jypepin on 12/20/17, 7:26 AM
they say trading BCH in EURO is available immediately but on GDAX it says it's not available yet... Anyone knows when we can expect this to be available?
by matt-attack on 12/20/17, 1:34 AM
Anyone know what happens if I return coins I had pulled out before the fiasco this summer? Will my acct reflect a balance from both coins?
by Falkens_Maze on 12/20/17, 1:02 AM
Edit: I was able to login after several minutes of downtime.
I would urge others to buy a hardware wallet and not store your coins with Coinbase.
by fpisfun on 12/20/17, 6:49 AM
Haha just not yet, been trying all day to buy it
by hendzen on 12/20/17, 12:57 AM
I wonder how much money Coinbase employees, friends and family made by insider trading on this announcement. Gotta love unregulated markets!
by juice_bus on 12/20/17, 12:50 AM
Seems so perfectly timed for the latest drop and issues with bitcoin its self
by stevebmark on 12/20/17, 1:51 AM
Why was this banned from the front page?
by cohnnton on 12/20/17, 1:18 AM
it's hilarious how many suckers will get drawn to this scam over and over.....
1.) omg this cryptocurrency is so transactional/rare
2.) nope. this isn't transactional at all! it costs me $350 to send $350!
3.) nope. it's not rare, coinbase just added ANOTHER transactional/rare crytocurrency!
4.) time to lose 80% on another cryotocurrency!