Coinbase announced that they will support Bitcoin Cash, but it will not be until January 1, 2018 that the withdrawals of the cryptocurrency on the platform will be available. That as long as "no additional risks arise."
It means that they will keep all those BCHs for almost half a year! I understand that implementing changes to the platform takes time, but 5 months (subject to change) seems to me somewhat disproportionate.
What's the reason for the change of opinion?
They affirm that they made this decision based on factors such as the security of the network and customer demand. But surely also had something to do with the loss of many customers and the anger of the rest.
In fact, even the possibility of facing lawsuits for common law property. As their users began to make accusations of fraud on the suspicion that Coinbase intended to keep the BitcoinCash for themselves.
Here are some of the statements of coinbase in the last announcement:
Take in account that just a few weeks ago Coinbase stated that they would not support Bitcoin Cash and had no intention of doing so once it started operating and trading.
We may not always be first in adding an asset, but if we do, you can be sure that we’ve invested significant time and care into supporting it securely. We believe this is the best approach for us to maintain customer trust.
In the case of bitcoin cash, we made clear to our customers that we did not feel we could safely support it on the day it was launched. For customers who wanted immediate access to their bitcoin cash, we advised them to withdraw their bitcoin from the Coinbase platform.
funny how they changed of mind no?
What will happen to those who had BTC in coinbase at the time of the fork?
Both bitcoin and bitcoin cash remain safely stored on Coinbase.
Customers with balances of bitcoin at the time of the fork now have an equal quantity of bitcoin cash stored by Coinbase.
With the small detail that they will have to wait until 2018. Well, better late than never...
Cheers Friends and Thanks for reading!
Source: blog coinbase
Images image1
Hopefully BCC will hold its value till then...
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People knew in advance that coinbase was not going to give BCH to their users. Still, don't know why they thought that everybody would be cool with that!
Coinbase is just scared of the repercussions.
Other point, I don't understand people that leave their assets in coinbase.
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Good points there. I think most of that people should be uninformed, I don't see another explanation xD
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I don't know for everybody else but for me, when I think about my hard earn money, I know everything there is to know about it. I would not want to lose it because I'm uninformed.
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I'm completely agree, for that reason I always try to keep as much control as possible about my cryptos and money in general. Cheers @karma-panorama, stay informed!
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Thanks for the valuable information about future is bitcoin .yes better late than never ,most importantly accepted.Have a great day.
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Sure. Thank you for the comment! I wish you a nice day too :D
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by angelgarz from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
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This post has received a 30.73 % upvote from @lovejuice thanks to: @angelgarz. They have officially sprayed their dank amps all over your post rewards. GOOD TIMES! Vote for Aggroed!
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