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Coinbase CEO here - apologies for the confusion on that. I certainly wouldn't say we are treating it as a "shitcoin". I tweeted out a few thoughts here to shar

Coinbase CEO here - apologies for the confusion on that. I certainly wouldn't say we are treating it as a "shitcoin". I tweeted out a few thoughts here to share how I think about it: https://twitter.com/brian_armstrong/status/892486687531556865 https://twitter.com/brian_armstrong/status/89248668753155686... Hope it helps. Thx!

marcell 9y ago
That's fine but there is obviously demand for BCH trading and by not supporting it, Coinbase/GDAX is forcing otherwise happy customers onto competing platforms.
- bayonetz 9y ago
  Definitely wish Coinbase had just taken care of it for me. Instead, I withdrew everything to a personel wallet and will be depositing my BCC to Kraken. I'll probably just deposit my BTC to Kraken as well since I'm going through the trouble. I like that Kraken will give me access to a bunch of other coins to get exposure to. On the plus side, all this is motivating me to deepen my understanding of the cryptocoin tech/ecosystem.
  - GordonS 9y ago
    Did the same, but from. Bitstamp to Kraken (Bitstamp took the same position as Coinbase). Kraken supports USD now, which it didn't used to last time I traded there, so I'll probably just stick with Kraken. I imagine most of the exchanges that didn't support BCH are going to lose a lot of customers over it.
    - bayonetz 9y ago
      Folks like us voicing this stuff may make them rethink things and they retroactively make it right for the people who didn't bother to be proactive. Which would then just add insult to injury for us! Well at least I got some good experience out of it...
      - Larrikin 9y ago
        Honestly this seems like an off shoot thread to try to submarine and try and give legitimacy to the fork while taking swipes at those that opposed it. I didn't know much about the fork up until a few days ago, but I did know to make sure I unloaded everything off of Coinbase if I wanted to benefit and double my tiny little bit of BTC since there had been a notice for weeks now about how they won't support it and a cursory Google search showed what you needed to benefit.
        bayonetz 9y ago
        ...so update -- it came true. Coinbase has buckled under the backlash and will make everyone's BCC available to them. Your welcome to everyone who was too lazy to withdraw their funds. You didn't have navigate the byzantine manual process to claim your coins. :)
- QML 9y ago
  The same can be said for other cryptocurrencies besides BTC, ETH, and LTC...
sillysaurus3 9y ago
Meanwhile, Kraken supports Bitcoin Cash from minute one: http://blog.kraken.com/post/1150/bitcoin-cash-and-a-critical-alert-for-bitcoin-margin-traders/ http://blog.kraken.com/post/1150/bitcoin-cash-and-a-critical... http://blog.kraken.com/post/1183/bitcoin-cash-and-a-critical-alert-for-margin-traders-part-2-2/ http://blog.kraken.com/post/1183/bitcoin-cash-and-a-critical... Here's Coinbase's original statement, which seems to be exactly what the grandparent comment was saying: https://twitter.com/coinbase/status/890986442674941953 https://twitter.com/coinbase/status/890986442674941953 "Coinbase does not intend to interact with the Bitcoin Cash blockchain."
- endlessvoid94 9y ago
  Then go to Kraken!
  - sillysaurus3 9y ago
    The point is, splits and civil wars cause customer confusion and are harmful for bitcoin adoption. Coinbase is throwing some political weight around by saying "We won't support BCH." Their competitors do, so are customers supposed to think it's a technical challenge to support BCH? It's just strange that Coinbase either wasn't prepared or sees BCH as a threat. Balkanization of bitcoin is unnecessary. Why refuse to support what everyone else supports? https://twitter.com/Yelka_Pineda/status/891020902066003968 https://twitter.com/Yelka_Pineda/status/891020902066003968
    - pera 9y ago
      Why exactly should Coinbase support every new altcoin? I seriously can not understand your point.
    - Mahn 9y ago
      In my view, as a bystander with no skin in the game, the BCH fork is very much political, so there's no reason why exchanges should not take a political stance in response. It's hardly a question of supporting what "everyone else" supports, Bitstamp has the same position for instance.
rmaus 9y ago
This is completely off topic, but does it bother anybody else that we live in a world where the CEO of any technologically savvy company disseminates announcements as a picture of text?
- rcthompson 9y ago
  Well, that's kind of the de facto standard for tweeting large blocks of text that don't read well as a sequence of tweets.
  - mmagin 9y ago
    I think the idea was more along the lines of "Remember blog posts?"
  - protomyth 9y ago
    Do any screen readers do OCR or read the comment of a picture for sight impaired users?
- sillysaurus3 9y ago
  It's better than the old days of hearing nothing except press releases.
  - cookiecaper 9y ago
    An executive's Twitter is a press release. Let's not pretend they don't realize we're watching.
- bdcravens 9y ago
  No more than a world where college-educated professional programmers communicate using memes and emojis.
- sundvor 9y ago
  It's merely what passes as presidential these days.
ucha 9y ago
Bitcoin cash represents 7-8% of the value of a bitcoin pre-split. How is it user friendly to "tax" coinbase bitcoin holders by that amount? Is coinbase just going to sell those bitcoin cash for its own profit? Some transparancy would be greatly appreciated. Thanks
- idrism 9y ago
  Answered here: https://twitter.com/coinbase/status/892499250273107968 https://twitter.com/coinbase/status/892499250273107968 Will Coinbase keep BCC coins for itself? No. Coinbase does not intend to support or interact with the new blockchain in any way. If this were to change, Coinbase would make those coins available for customers to withdraw, not keep them.
  - taysic 9y ago
    Makes sense but if the value BCC is at sustains itself, it would make sense that customers see that value as considerable and lost if they can't reclaim it later on. Ironically, not "interacting" with that chain only serves to create more dead coins and thus push up value. Imagine if the value grows considerably... customers might be changing their tune if they feel that they lost out and feel they were misinformed.
- d23 9y ago
  You can bet I'll be removing every last coin I have from coinbase as soon as all of this is over. They gave a whopping three days notice. For those of us who had our coins in a vault, which adds a 48 hour delay to any transfers, this gave almost no time at all to react. In my case, I wasn't able to get it out in time and it essentially means I just lost money. Coinbase of course has no way to get a hold of anyone. I just have to watch my money swirl down a drain.
  - justrobert 9y ago
    3 day notice? Did you check your emails from coinbase? I got an email on 7/19 warning about the fork. The email laid out the process if you want access to the fork.
45h34jh53k4j 9y ago
Except it really is a shitcoin. A scam to ensure that the mining pools can keep exploiting ASICBOOST. Ignore it and move on in life.
- colordrops 9y ago
  Nice drive-by propaganda comment that ignores a massive amount of context and subtlety.
  - martinko 9y ago
    Except it doesn't, really. Cuts straight to the point.
- CodeWriter23 9y ago
  Right, because leveraging efficiencies should be a prohibited activity in a "Free" Market system, where said efficiencies cannot be enjoyed by incumbents. Clearly the correct action in such a case is to limit innovation and remove advantages developed by non-incumbents.
AvenueIngres 9y ago
Can you fix your exchange/company? Downtime should be unacceptable and exceptional for a financial marketplace. On Coinbase however, downtimes and unexpected behavior are common place, and happen multiple times a week. It's outright fraudulent when you allow your employees to trade during those downtimes. What the hell.
aresant 9y ago
Appreciate your statement. Many that left their BTC assets on CB in interest of your core benefits - simplicity, security - will watch with interest for further communication in the coming weeks as price of bt cash stabilizes.
deleted 9y ago
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unkown-unknowns 9y ago
But will you hand over the private keys for the wallets your customers have with you so that they can use the BCH, or will you only transfer money to another BTC wallet and so the ship has sailed?

marcell 9y ago

That's fine but there is obviously demand for BCH trading and by not supporting it, Coinbase/GDAX is forcing otherwise happy customers onto competing platforms.

bayonetz 9y ago
Definitely wish Coinbase had just taken care of it for me. Instead, I withdrew everything to a personel wallet and will be depositing my BCC to Kraken. I'll probably just deposit my BTC to Kraken as well since I'm going through the trouble. I like that Kraken will give me access to a bunch of other coins to get exposure to. On the plus side, all this is motivating me to deepen my understanding of the cryptocoin tech/ecosystem.
- GordonS 9y ago
  Did the same, but from. Bitstamp to Kraken (Bitstamp took the same position as Coinbase). Kraken supports USD now, which it didn't used to last time I traded there, so I'll probably just stick with Kraken. I imagine most of the exchanges that didn't support BCH are going to lose a lot of customers over it.
  - bayonetz 9y ago
    Folks like us voicing this stuff may make them rethink things and they retroactively make it right for the people who didn't bother to be proactive. Which would then just add insult to injury for us! Well at least I got some good experience out of it...
    - Larrikin 9y ago
      Honestly this seems like an off shoot thread to try to submarine and try and give legitimacy to the fork while taking swipes at those that opposed it. I didn't know much about the fork up until a few days ago, but I did know to make sure I unloaded everything off of Coinbase if I wanted to benefit and double my tiny little bit of BTC since there had been a notice for weeks now about how they won't support it and a cursory Google search showed what you needed to benefit.
      - bayonetz 9y ago
        ...so update -- it came true. Coinbase has buckled under the backlash and will make everyone's BCC available to them. Your welcome to everyone who was too lazy to withdraw their funds. You didn't have navigate the byzantine manual process to claim your coins. :)
QML 9y ago
The same can be said for other cryptocurrencies besides BTC, ETH, and LTC...

sillysaurus3 9y ago

Meanwhile, Kraken supports Bitcoin Cash from minute one: http://blog.kraken.com/post/1150/bitcoin-cash-and-a-critical-alert-for-bitcoin-margin-traders/ http://blog.kraken.com/post/1150/bitcoin-cash-and-a-critical... http://blog.kraken.com/post/1183/bitcoin-cash-and-a-critical-alert-for-margin-traders-part-2-2/ http://blog.kraken.com/post/1183/bitcoin-cash-and-a-critical... Here's Coinbase's original statement, which seems to be exactly what the grandparent comment was saying: https://twitter.com/coinbase/status/890986442674941953 https://twitter.com/coinbase/status/890986442674941953 "Coinbase does not intend to interact with the Bitcoin Cash blockchain."

endlessvoid94 9y ago
Then go to Kraken!
- sillysaurus3 9y ago
  The point is, splits and civil wars cause customer confusion and are harmful for bitcoin adoption. Coinbase is throwing some political weight around by saying "We won't support BCH." Their competitors do, so are customers supposed to think it's a technical challenge to support BCH? It's just strange that Coinbase either wasn't prepared or sees BCH as a threat. Balkanization of bitcoin is unnecessary. Why refuse to support what everyone else supports? https://twitter.com/Yelka_Pineda/status/891020902066003968 https://twitter.com/Yelka_Pineda/status/891020902066003968
  - pera 9y ago
    Why exactly should Coinbase support every new altcoin? I seriously can not understand your point.
  - Mahn 9y ago
    In my view, as a bystander with no skin in the game, the BCH fork is very much political, so there's no reason why exchanges should not take a political stance in response. It's hardly a question of supporting what "everyone else" supports, Bitstamp has the same position for instance.

rmaus 9y ago

This is completely off topic, but does it bother anybody else that we live in a world where the CEO of any technologically savvy company disseminates announcements as a picture of text?

rcthompson 9y ago
Well, that's kind of the de facto standard for tweeting large blocks of text that don't read well as a sequence of tweets.
- mmagin 9y ago
  I think the idea was more along the lines of "Remember blog posts?"
- protomyth 9y ago
  Do any screen readers do OCR or read the comment of a picture for sight impaired users?
sillysaurus3 9y ago
It's better than the old days of hearing nothing except press releases.
- cookiecaper 9y ago
  An executive's Twitter is a press release. Let's not pretend they don't realize we're watching.
bdcravens 9y ago
No more than a world where college-educated professional programmers communicate using memes and emojis.
sundvor 9y ago
It's merely what passes as presidential these days.

ucha 9y ago

Bitcoin cash represents 7-8% of the value of a bitcoin pre-split. How is it user friendly to "tax" coinbase bitcoin holders by that amount? Is coinbase just going to sell those bitcoin cash for its own profit? Some transparancy would be greatly appreciated. Thanks

idrism 9y ago
Answered here: https://twitter.com/coinbase/status/892499250273107968 https://twitter.com/coinbase/status/892499250273107968 Will Coinbase keep BCC coins for itself? No. Coinbase does not intend to support or interact with the new blockchain in any way. If this were to change, Coinbase would make those coins available for customers to withdraw, not keep them.
- taysic 9y ago
  Makes sense but if the value BCC is at sustains itself, it would make sense that customers see that value as considerable and lost if they can't reclaim it later on. Ironically, not "interacting" with that chain only serves to create more dead coins and thus push up value. Imagine if the value grows considerably... customers might be changing their tune if they feel that they lost out and feel they were misinformed.
d23 9y ago
You can bet I'll be removing every last coin I have from coinbase as soon as all of this is over. They gave a whopping three days notice. For those of us who had our coins in a vault, which adds a 48 hour delay to any transfers, this gave almost no time at all to react. In my case, I wasn't able to get it out in time and it essentially means I just lost money. Coinbase of course has no way to get a hold of anyone. I just have to watch my money swirl down a drain.
- justrobert 9y ago
  3 day notice? Did you check your emails from coinbase? I got an email on 7/19 warning about the fork. The email laid out the process if you want access to the fork.

45h34jh53k4j 9y ago

Except it really is a shitcoin. A scam to ensure that the mining pools can keep exploiting ASICBOOST. Ignore it and move on in life.

colordrops 9y ago
Nice drive-by propaganda comment that ignores a massive amount of context and subtlety.
- martinko 9y ago
  Except it doesn't, really. Cuts straight to the point.
CodeWriter23 9y ago
Right, because leveraging efficiencies should be a prohibited activity in a "Free" Market system, where said efficiencies cannot be enjoyed by incumbents. Clearly the correct action in such a case is to limit innovation and remove advantages developed by non-incumbents.

AvenueIngres 9y ago

Can you fix your exchange/company? Downtime should be unacceptable and exceptional for a financial marketplace. On Coinbase however, downtimes and unexpected behavior are common place, and happen multiple times a week. It's outright fraudulent when you allow your employees to trade during those downtimes. What the hell.

aresant 9y ago

Appreciate your statement. Many that left their BTC assets on CB in interest of your core benefits - simplicity, security - will watch with interest for further communication in the coming weeks as price of bt cash stabilizes.

deleted 9y ago

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deleted 9y ago

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unkown-unknowns 9y ago

But will you hand over the private keys for the wallets your customers have with you so that they can use the BCH, or will you only transfer money to another BTC wallet and so the ship has sailed?