I woke up this morning to a this Email from Coinbase..."We are planning to have support for bitcoin cash by January 1, 2018, assuming no additional risks emerge during that time."
Here is the full Email:
Dear Coinbase customer,
We wanted to give our customers an update on the recent Bitcoin hard fork. You can read more about what a digital currency fork is here:
https://blog.coinbase.com/what-is-a-bitcoin-fork-cba07fe73ef1
Forks enable innovation and improvements to digital currency and we believe that we will see an increasing number of forks in the future. We expect this to be a vibrant and innovative community.
When a digital currency forks, it creates a new digital asset. Adding new digital assets to Coinbase must be approached with caution. Not every asset is immediately safe to add to Coinbase from a technical stability, security, or compliance point of view.
Our top priority is the safety of customer funds and we spend extensive time designing, building, testing and auditing our systems to ensure that the digital asset we support remains safe and secure. 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. However, there are several points we want to make clear for our customers:
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.
We operate by the general principle that our customers should benefit to the greatest extent possible from hard forks or other unexpected events.
Over the last several days, we’ve examined all of the relevant issues and have decided to work on adding support for bitcoin cash for Coinbase customers. We made this decision based on factors such as the security of the network, customer demand, trading volumes, and regulatory considerations.
We are planning to have support for bitcoin cash by January 1, 2018, assuming no additional risks emerge during that time.
Once supported, customers will be able to withdraw bitcoin cash. We'll make a determination at a later date about adding trading support. In the meantime, customer bitcoin cash will remain safely stored on Coinbase.
Thank you,
Coinbase Team
Bittrex has been showing a balance since day 1 of Both BTC & BCC nicely created accounts for all customers holding BTC on their exchange. Now wallet is full active.
What is your take on coinbase?
Their going to be dead in the water if something goes sideways and BCC crashes and all their customers lose the oportunity to sell while it high. If it goes to the moon they will save a little face but....
You Tell me?
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://blog.coinbase.com/update-on-bitcoin-cash-8a67a7e8dbdf
Why thank you Cheetah, yes you will find this all over the net Today! Good Job Dude :-)
Thanks for the vote, First time you noticed me... LOL
It amazes me how many bad moves Coinbase makes considering they are basically the biggest onramp for new users. Its kinda concerning actually. Hopefully this goes well for Coinbase customers
I think they have shot themselves in the foot, But time will tell.
Only if the people wanting to sell would have lost there ass at todays rate will they regain some sympathy. But that will call for a Moon launch of Bitcoin Cash by the new year. If it goes sideways some how and the people could have sold at $400 or so, they will never recover.
Cheers now following and heading your way :-)
They should have been more professional. This sounds like they're eating their own words, after their strong disapproval of BCH and stuff.
I don't see what anyone's beef is, the more coins the merrier as far as I'm concerned. Caused a little more work for them, but they get a cut of every trade so.....WTF LOL
Before the fork I was looking for somewhere to move my coins to, and coinbase were advising people to take them out if they wanted bcc, because they wouldn't be supporting it. So surely, if people had coins there and wanted their cash, they did as told and took it away before the fork?
Ok all is fair then, they were honest about their intentions. And the customers made their choice.
Here is a couple follow ups I did
Cheers