Recently Coinbase, one of the largest bitcoin currency exchanges, announced that it will not be accepting Bitcoin Cash. In the email Coinbase said, "customers with Bitcoin stored on Coinbase will only have access to the current version of bitcoin we support (BTC). Customers will not have access to, or be able to withdraw, bitcoin cash (BCC)." In the case of a cryptocurrency hard fork, holders of the cryptocurrency automatically have the currency of both chains. In bitcoin's case holders after august 1st would own both BTC and the new chain BCC. After the split Bitcoins total value would be divided between both coins. By not providing its users with BCC, Coinbase would be taking away from the value of the bitcoin it's holders rightfully have. This also brings up the question of where the BCC of its users would go. Since they own those BTC and will be distributed BCC, Coinbase must receive the BCC for its holders. What will Coinbase do with the BCC it gets? Seems suspicious to me! Coinbase and other Bitcoin exchanges that do not accept the bitcoin fork on August 1st are robbing their users of crytocurrency they should rightfully own! Any user that owns Bitcoin on Coinbase will be losing value and essentially giving their money away.
Please share to makes sure everyone is informed before August 1st!
Thanks for reading!
They should play fair and square.
seriously!
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