Early last night, Coinbase announced that they would add support for Bitcoin Cash.
This wasn't new news, but this addition was much earlier than originally expected.
A few months back Coinbase announced that they would be adding support for Bitcoin Cash come January 2018.
Apparently they decided to up the schedule on that by a few weeks.
If you logged into coinbase at any point over the past few days, you likely saw a message that looked something like this:
Like all things in life, it didn't go quite as well as planned...
When Coinbase first opened Bitcoin Cash for trading it immediately shot up in price.
Way up.
Before anyone really knew what happened, Bitcoin Cash was trading around $8,500 per coin.
Yes you read that right, $8.5k!
Oops!
Trading was immediately halted and all orders were cancelled and the books cleared.
In response, Coinbase/GDAX put this message out:
Trading stayed halted for some time before Coinbase could sort things out and get Bitcoin Cash to open more "normally".
There have been several halts since the launch, but Bitcoin Cash is now trading normally on Coinbase and it has seen a massive surge in price over the past 24 hours.
As I type this, Bitcoin Cash is now over $4k while it was trading for around $1600 just a few short days ago.
Most of the altcoin market has been on a tear these past few days, but Bitcoin Cash is even outdoing the others.
Possible Insider Trading?
I would imagine many that knew Bitcoin Cash was going to be added to Coinbase bought in anticipation of this price runup.
In fact, in news out within the last couple hours, Coinbase announced they are investigating reports of insider trading having to do with their launch of Bitcoin Cash.
More on that can be read here:
http://fortune.com/2017/12/20/coinbase-bitcoin-insider-trading/
Things that make you go hmmm...
Another day, another cryptocurrency drama filled morning.
Stay informed my friends.
Sources:
https://www.cnbc.com/2017/12/20/coinbase-to-investigate-bitcoin-cash-price-rise-insider-trading.html
Image Sources:
https://www.thetechfreaks.com/?p=964048
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There is so much going on and so many translations are delayed
They added BCH to their API some few days ago, so it was no surprise that it would be added - though the timing was a bit of a surprise indeed.
The insider trading suit seems frivolous to me. This reminds of when Bitfinex tried to sue Wells Fargo for blocking their accounts and then retracted later.
Even if someone from Coinbase was buying ahead of the news, it most likely would have been done on offshore exchanges that don't do KYC, through TOR or some other masking service.
Not gonna catch 'em anyways!!
Even if they were, is there anything wrong with that? These exchanges are not regulated by the SEC are they?
I'm sure one of the many useless, corrupt federal agencies will step up to claim jurisdiction at some point.
I hate bitcoin cash, it takes away from the alt market and bitcoin.
thats a poor reason to hate something.
:((((
It doesn't take away, it improves bitcoin
Coinbase has been backed up for weeks now with excessive traffic overloading their servers and backing their systems up. I also heard one reason there are a lot of delays is due to the limitations on the amount of ACH bank transfers that can be transmitted by one party all due to the massive increase in subscribers and people trying to trade on the platform.
I bought BCH for 2300 yesterday and sold it for 3400, it can go up to 8k in 1-2 weeks
bitcoin cash is growing with some shady tactics, I'm afraid they finally succeed on killing bitcoin and take it's place
This is good news for all bitcoin cash holder😁😁😁
Yeah, but bad news for those looking to buy now - luckily I got in yesterday morning out of sheer luck! Also, heard it only took 4 minutes to crash on Coinbase - can't wait to see if there was actually insider trading going down. That would really hurt crypto's public image right now.
This is even more good news, for those who HODL Bitcoins, on Coinbase. They have been waiting for this for a long time. :)))
Thank god I use bittrex ,... hope you managed to get som BCH !
nice post
This is why I don't trust coinbase.
I doubt Bitcoin Cash can over power Bitcoin it'self thought it will gain more weight than usual. Any the communities are the power to make Bitcoin Cash weigh more than Bitcoin.
I think that Litecoin is better than all the Bitcoin variants
Surprisingly looking into my coinbase account this morning Bitcoin cash suddenly pop up
Bitcoin cash had a huge run up but we have to keep in mind that in this space it is better to analyze gains with a BTC value instead of dollars...the first attempt of “cashening” led BCH to almost a 2:1 ratio with BTC which was pretty insane, we are nowhere near that ratio this time even though the $ price is pretty impressive as well.
BCH effectively works better at the moment for transferring value (nothing that Dash or Ltc can’t handle better anyway)...but I don’t like how the people behind it manipulate the community for fulfilling their purposes.
You should develop a coin for the best interest of the people who use it not for your mining business model.
Anyone who invests in BitcoinCash will regret it. The only thing BCash has done is enlarged the block size to 8 MB, but at what price? Are they willing to sacrifice security for quicker transactions? What more does BCash bring that other cryptos don't? What does it do better than Litecoin or STEEM, for example? Nothing. It just holds the Bitcoin name because you can't trademark cryptos yet, but without the name, it is a regular 1st Gen coin. We have already moved to 3rd Gen cryptos with the likes of Cardano. Bitcoin has the advantage of the name, security, and the best developers and miners. It is essentially the reserve currency in trading alt-coins. That is what will hold and maintain Bitcoin in the future. Bitcoin Cash, on the other hand, will be nothing but a failed coin that the likes of Roger Ver and others used to make money off of those looking to make a quick buck.
Bitcoin gercekten inanılmaz kazandırıyor bizede kazandırmazmı
kardeşim pek sanmıyorum ya :D bunlar hep dış güçlerin oyunu :D
Good information is always helpful to get interesting things and help, greetings
100% right friend @jrcornel
very good information .. i show him
@jrcornel They still won't verify new members though! I submitted my documents more than 20 days ago and no response yet!
It was crazy and so suspicious. people lost alot of money and people earned alot of money.
The everyday rise associated with Bitcoin im certain the next day will bring us more drama
Competition is always good im crypto currency! :)
Bitcoin Cash increased so much after these news.
I am afraid now that bitcoin cash will be better than bitcoin itself, I also think it's too late to buy bitcoin cash and this why today I baught two bitcoin gold
Its true bitcoin cash is the original and will crash btc!
Is BitCoin really that important ? I think it will fall in 2 years..
Bitcoin might fall because of scalability, but cryptos and especially blcokchain will change the world.
Funny how fast things can happen and change
hlw friend thank you so much @jrcornel for sharing this helpful post.
It could be speculated that some of the Bitcoin decline over the last few days could have been due to insider "whales" taking out money in anticipation of Bitcoin Cash. Great overview, thanks!
@jrcornel Thanks for sharing this. You provide a lot of information in your posts. I wish I can read them all. I'll do my best tonight :)
It's just technical difficulties, imo. I'm waiting for the Ripple, Dash, and Monero announcements.
There gonna skyrocket when they hit coinbase
Bitcoin Cash the new Bitcoin? This thing has flown this year very quickly.
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Wow, that is a crazy spike. Coinbase has a ways to go before they add nearly what bittrex has available... do you know if they are planning to expand their coins significantly or are they only sticking to the most popular?
They only stick with the most popular, among other things. I think the fact there is a fiat gateway makes them have to be very careful which coins they add.
The worst of it: they erased the trading data from coinbase's price chart showing ATH of 4k instead of 9k to let people think that its only growing.
That's literally manipulationa at it's best.
I thought coinbase was just gonna take our BCH and run away with it
Cannot agree more as am sure inside trading is responsible and who is investigating who? Thanks for sharing
Wow!! Very Nice Post
I recommend uphold.
Insider Trading seem to be what's going around.
I HATE Coinbase! Long live ETHOS!
Bitcoin cash or we say Bitcoin crash !!
you can also put money in a usd dollar wallet for no fees, they just added today
If you want a coin you can mine, without any drama, choose Vertcoin.
Why?
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How do we get steem on there?
I mean we have the internal exchange so Idk why Binance does anything
Haha I see the referal link, I respect the hustle
Bitcoin is really becoming incredible with this and bitcoin ATM
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