Anda di halaman 1dari 15

12/26/2017 The Bitcoin Community Is Furious with Coinbase's Surprise Launch of 'BCash' - Breitbart

advertisement

SEARCH HOME SUBSCRIBE

BIG GOVERNMENT BIG JOURNALISM BIG HOLLYWOOD NATIONAL SECURITY TECH VIDEO SPORTS THE WIRES
BREITBART LONDON BREITBART JERUSALEM BREITBART TEXAS BREITBART CALIFORNIA PEOPLE STORE

The Bitcoin Community Is Furious with SIGN UP TO GET BREITBART NEWS


Coinbase’s Surprise Launch of ‘BCash’ DELIVERED RIGHT TO YOUR INBOX
104
Enter your email address

SIGN ME UP

David McBee

by EZRA DULIS 20 Dec 2017 951

Bitcoin owners and enthusiasts spent Tuesday night and


Wednesday morning raging against Coinbase — one of the most
popular apps for exchanging U.S dollars to blockchain-based
digital currencies — after the trading platform unexpectedly
began exchanging BTC’s controversial rival “Bitcoin Cash,” then
quickly crashed as its new product became illiquid.
In case you’re lost after that sentence, let us first take you through a primer on the
situation:
BREITBART CONNECT
What Is Bitcoin Cash?
Bitcoin Cash (BCH) is a “fork” of Bitcoin (BTC), essentially a carbon copy of the existing
currency with distinctive structural changes — in Bitcoin Cash’s case, an increase in the
amount of data allowed in each “block” of recorded transactions. Bitcoin has seen many
forks through its eight years, but BCH took the novel step of duplicating every user’s FROM THE WEB Ads by Revcontent
existing balance — if you owned 3.3 Bitcoin at the time of the fork, you owned 3.3 Bitcoin
and 3.3 units of Bitcoin Cash after. Some high-profile early Bitcoin advocates have
switched allegiance to BCH, notably Roger Ver, the owner of Bitcoin.com, and Jihan Wu,
the co-founder of Bitmain, which manufactures a large share of the devices used in
Bitcoin/Litecoin/Dash/Bitcoin Cash mining.

http://www.breitbart.com/tech/2017/12/20/bitcoin-coinbase-surprise-launch-bcash/ 1/15
12/26/2017 The Bitcoin Community Is Furious with Coinbase's Surprise Launch of 'BCash' - Breitbart

Why Do BTC & BCH Hate Each Other?


Right now, sending Bitcoin is very slow and expensive because people are performing
transactions much faster than the network can confirm them. BCH fans say that their coin
can handle Bitcoin’s transaction volume without high fees or long wait times because of Remember Her? Try Not to Gasp
the larger size of blocks in its blockchain. Bitcoin Cash advocates say that their coin is when You See Her Now
closer to the “original vision” of Satoshi Nakamoto, Bitcoin’s pseudonymous creator, of Fitness Morale
peer-to-peer digital cash that can be used for everyday commerce like buying a cup of
coffee.

Emin Gün Sirer


@el33th4xor

NYT said it, WSJ said it, Ars says it, every academic had been
calling it out. There's a big change and it's not good for Bitcoin.
twitter.com/binarybits/sta…
9:43 AM - Dec 20, 2017

20 36 108
Men, You Don't Need The Blue Pill
if You Do This
Bitcoin advocates attack BCH for what they perceive as misrepresentation — piggybacking
TestoUltra
off the popularity of BTC instead of trying to build up their project on its own merits. Ver
often makes statements conflating the two projects’ identities, such as: “Bitcoin Cash is the
true Bitcoin.” He went even farther Wednesday afternoon:

27 Stars Who Died And Not a Word


Was Said
Refinance Gold

Roger Ver
@rogerkver

Bitcoin Cash is Bitcoin.


Bitcoin Core is not.
‫ ﷼ ﻣﻦ اﻟﺒﯿﺖ‬25,319 ‫!ﻛﯿﻒ ﺣﻘﻘﺖ ﻣﻨﺎل اﻟﻌﺎدل‬
12:27 AM - Dec 21, 2017 · Saint Kitts and Nevis
topvipdreams
1,477 764 2,109

Critics believe that BCH is trying to capitalize on confusion, receiving money intended for
Bitcoin; for instance, the official Bitcoin.com mobile app creates a Bitcoin Cash wallet
instead of a BTC one by default. A recent, unverified anecdote from a Bitcoin fan claims
that he witnessed someone lose money trying to buy Bitcoin at an ATM, not realizing that
the wallet he created with Ver’s app could not receive it.

http://www.breitbart.com/tech/2017/12/20/bitcoin-coinbase-surprise-launch-bcash/ 2/15
12/26/2017 The Bitcoin Community Is Furious with Coinbase's Surprise Launch of 'BCash' - Breitbart

Ben Slaney
@BenedictSlaney

I'm at a bitcoin atm in Athens. Literally just saw a kid buy some
BTC and accidentally give it a bcash address because of
bitcoin.com's confusing iOS wallet UI in 5 minutes of being here.
Money lost.
TAKE A LOOK
6:40 PM - Dec 8, 2017
• Prayer Changes Your Brain in 4
61 183 377 Simple Ways
• These 5 Things Activate Cancer In
Your Body
What is Coinbase?
• The Jesus Question: Will He Ever
Return?
Coinbase is one of the biggest companies for people in the English-speaking world to • Arthritis Drugs Kill More People
convert their fiat currency into digital currency. Most “cryptocurrency” exchanges do not Than AIDS, Doctor Warns
allow users to convert U.S. dollars, thanks to strict regulatory requirements, but Coinbase • These 7 Things Activate Alzheimer's
and its real-time trading platform GDAX have made the process simple enough for many in Your Brain
users who are not technologically savvy. Until Tuesday, Coinbase only exchanged fiat • 3 Signs You're Dangerously Close to
a Heart Attack
currency for Bitcoin, Litecoin, and Ethereum.
Powered by
advertisement

MOST POPULAR
Mansour: How Christmas Has Shaped
Our History and Values
3,715 comments - 5 hours ago

Merry Christmas, with An X: Melania


Trump Tweets Sultry Santa Selfie
8,152 comments - 11 hours ago

CNN: ‘It’s a Wonderful Life’ Is


‘Inherently Sexist,’ Should Be ‘Retired’
5,765 comments - 8 hours ago

Before we get further into the story, consider my biases: I am a Coinbase/GDAX Nikki Haley Announces $285 Million
user. I have converted less than $100 into the three digital currencies they sold before Reduction to U.N. Funding
Tuesday: Bitcoin, Litecoin, and Ethereum. I use and have written positively about other 26,253 comments - 15 hours ago
exchanges, too, such as Uphold. I am not a Bitcoin “maximalist” — people who invest only
Pope on Christmas: Bethlehem trek’s
in Bitcoin and aspire to use only Bitcoin for all of their financial transactions. I see merit in
like today’s migrations
other digital currencies and decentralized apps for various uses, but I do want Bitcoin to
9,889 comments - 1 day ago
succeed in the long term and tend to agree with Bitcoin maximalists’ criticisms of Bitcoin
Cash. Seeing how its big backers react to the nickname “BCash” makes me concede that it WATCH: Christians Now Freed from
appears BCH’s growth depends almost entirely on another coin’s established brand name. Islamic State Control in Mosul
Celebrate Christmas

http://www.breitbart.com/tech/2017/12/20/bitcoin-coinbase-surprise-launch-bcash/ 3/15
12/26/2017 The Bitcoin Community Is Furious with Coinbase's Surprise Launch of 'BCash' - Breitbart
2,322 comments - 8 hours ago
Why are people angry with Coinbase?
Actual Newsweek Headline: ‘Trump
Bitcoin fans perceive Coinbase is stacking the deck against BTC so that it can boost and the Nazis Stole Christmas’
demand for “altcoins,” which it can sell more profitably while Bitcoin’s mining fees are 2,425 comments - 8 hours ago
abnormally high. They cite Forbes’ 2017 profile of Coinbase’s CEO Brian Armstrong, which
Christmas Message: Pope Francis Calls
reveals that he owns more Ethereum than Bitcoin. They feel the company is dragging its
for Two-State Solution in Israeli-
feet on integrating SegWit, a code upgrade to reduce the cost and speed of BTC
Palestinian Conflict
transactions which will also enable the use of an upcoming upgrade called Lightning.
1,727 comments - 7 hours ago

The general reaction to Coinbase’s BCH launch appears to be a widespread lack of trust Archbishop of Canterbury Uses
and allegations of incompetence — or worse, market manipulation/crimes. Christmas Address to Lash Out at
Populists
1,501 comments - 9 hours ago
KP [DELETE CONBASE] Man Who Sent Manure to Treasury
@_Kevin_Pham
Secretary Steven Mnuchin Identified as
Let me get this straight: Child Psychologist
5,374 comments - 14 hours ago
Coinbase's main problems are keeping the exchange servers up
and dealing with high BTC fees.

So instead of integrating Segwit, they add BCash and make both


problems worse. Episode About Nothing: 2017

Right. Makes sense.


6:27 AM - Dec 20, 2017

2 31 105

Sir James MacMillan


Francis Pouliot
@francispouliot_

Is @coinbase smart enough to have timed this announcement w/


Bitcoin mining difficulty retarget period, peak mempool/tx fees right
after @CMEGroup futures/bull run to maximize damage to Bitcoin
(slow network+fees) to compound BCash trading gains with news
cycle spin control? Mitch McConnell and National
Reciprocity
6:21 AM - Dec 20, 2017

62% Yes

17% No they just dumb

10% No others call the shots

11% Total coincidence

1,220 votes • Final results

32 51 68

James Jimmerson
@bigjim6464

My thoughts on today's events.


11:12 AM - Dec 20, 2017

http://www.breitbart.com/tech/2017/12/20/bitcoin-coinbase-surprise-launch-bcash/ 4/15
12/26/2017 The Bitcoin Community Is Furious with Coinbase's Surprise Launch of 'BCash' - Breitbart
47 400 904

“Insider Trading”
Coinbase launched its trading capability for Bitcoin Cash around 8:20 EST, with an
announcement on GDAX’s status page about 75 minutes beforehand. Several critics
pointed out that trading volume on other exchanges — and thus the BCH price — curiously
spiked in the hours before Coinbase made its announcement. That led to widespread
accusations of “insider trading.”

D3leteC01nbase [HODL] @bitcoinization 20 Dec


Big Bcash pump right now! pic.twitter.com/8rAwyEvRRG

D3leteC01nbase [HODL]
@bitcoinization

If this is not inside trading, I don't know what is!

Massive volume on #bcash hours prior to @coinbase


announcement @SEC_Enforcement take notice!#Bitcoin #BTC
#BCH #Crypto #hyperbitcoinization pic.twitter.com/ABKLH5DLSA
4:50 AM - Dec 20, 2017

FROM THE HOMEPAGE

14 1,057 1,105

Mansour: How Christmas


Christmas Has Message: Pope
Shaped Our Francis Calls for
History and Values Two-State
3,509 Comments Solution in Israeli-
Palestinian
Conflict
1,725 Comments

Ronald Reagan on
Christmas Day
1981: ‘Americans
Have Always Tried PM Netanyahu:
to Follow a Higher ‘Very Proud’ Israel
Light’ ‘Says Merry
119 Comments Christmas,’ Come
Whalepool Next Year and ‘I’ll
@whalepool Be Your Guide’
683 Comments
Very strange accumulation and pump on Bcash in the hours
leading up to the @Coinbase BCH add. If I didn't know better, I'd
think that was potential insider trading activity. @GDAX 'ed?
#bitcoin #bcash #bch
4:39 AM - Dec 20, 2017
AP Names Trump
114 640 1,321 vs. NFL As the Top
Sports Story of the
Year
255 Comments
Samson Mow
@Excellion

http://www.breitbart.com/tech/2017/12/20/bitcoin-coinbase-surprise-launch-bcash/ 5/15
12/26/2017 The Bitcoin Community Is Furious with Coinbase's Surprise Launch of 'BCash' - Breitbart
Advice to exchanges: when trying to tank #Bitcoin to pump an
altcoin (eg #Bcash), at least try to look like you're not colluding or
engaging in insider trading WHILE leaving a huge trail of anti-
Bitcoin sentiment WHILE promoting every single contentious fork.
8:03 AM - Dec 20, 2017

34 260 837 Watch: Donald, Archbishop of


Melania Trump Canterbury Uses
Celebrate the Christmas Address
I am Nomad ‘Miracle of to Lash Out at
@IamNomad Christmas’ in Populists
Message to 1,499 Comments
hey @coinbase , @GDAX and @brian_armstrong by being part of Americans
a product index for @CMEGroup you agreed to certain rules. Since 1,903 Comments

bch news was clearly leaked around 2:30pm CST to certain parties.
this qualifies as insider trading. Hope you enjoy the incoming
complaints.
4:34 AM - Dec 20, 2017

122 1,004 2,697


Reports: PA
President
CNN: ‘It’s a Mahmoud Abbas
Coinbase @coinbase 20 Dec Wonderful Life’ Is Instructs Staff to
Coinbase maintains a strict trading policy and internal guidelines for ‘Inherently Sexist,’ Sever Ties With
employees. Coinbase employees have been prohibited from trading in Should Be U.S.
Bitcoin Cash for several weeks. ‘Retired’ 672 Comments
4,450 Comments

Justin
@TheJustinWade

@rogerkver pubicly accumulated the majority of BCH just before


@Coinbase listed the coin. Roger & @brian_armstrong worked
together for years to remove Core. Hence Brian blocks segwit while KLEIN: Abbas,
listing a 5 month old coin & someone tips Roger off? @fredwilson Seven Reasons Not Trump, Is the
@davidmarcus @katie_haun pic.twitter.com/0h8OQgVFDx 2017 Was the Year Grinch Who Stole
6:44 AM - Dec 20, 2017 of the Food Stamp Bethlehem
Turnaround Christmas
329 Comments 122 Comments

1 26 55
Year-End: What
Congress Passed,
Armstrong vowed to internally investigate the matter in a blog post published mid- Did Not Pass
maelstrom: “If we find evidence of any employee or contractor violating our policies — 340 Comments
directly or indirectly — I will not hesitate to terminate the employee immediately and take
appropriate legal action,” he wrote. Armstrong claimed that employees and contractors
were forbidden from trading Bitcoin Cash on any exchange or disclosing the company’s
plans, even to “friends and family” — “over a month ago.”

Yet given the semi-anonymous nature of BTC/BCH, it appears almost impossible for a
private company to effectively investigate insider trading or enforce non-disclosure rules.
Bitcoin exchanges without fiat support do not require identity verification, so we may
never discover who acquired Bitcoin Cash right before the Coinbase launch. Bitcoin
maximalists mocked Armstrong rather mercilessly for his statement.

John Carvalho
@BitcoinErrorLog

Brian, you don't have the power to fire @rogerkver ... Did HE know
about the listing beforehand?! twitter.com/coinbase/statu…
10:27 AM - Dec 20, 2017

19 26 169

Brian Armstrong @brian_armstrong


http://www.breitbart.com/tech/2017/12/20/bitcoin-coinbase-surprise-launch-bcash/ 6/15
12/26/2017 The Bitcoin Community Is Furious with Coinbase's Surprise Launch of 'BCash' - Breitbart
20 Dec
I just published “Our employee trading policy at Coinbase”
medium.com/p/our-employee…

Richard Jenkins
@rjenkins_atl

Brian, how many companies in the world that have been found
guilty of fraud, market manipulation, insider trading, etc have had
written policies that allowed them to do so?
10:09 AM - Dec 20, 2017
1 2 51

Brian Armstrong @brian_armstrong 20 Dec


I just published “Our employee trading policy at Coinbase”
medium.com/p/our-employee…

ɃitConsultants
@BitConsultants

A self investigation? Where have I heard this before? The


responsible thing to do is announce to all in advance when trading
will being instead of trying to hide information that can easily be
capitalized on. @coinbase is becoming very shady, we will no
longer recommend them.
10:07 AM - Dec 20, 2017

1 4 49

Vortex
@theonevortex

Hey Brian, would you like to explain to the


jury...reddit.com/r/Bitcoin/comm…
9:25 AM - Dec 20, 2017

32 250 664

Brian Armstrong @brian_armstrong 20 Dec


I just published “Our employee trading policy at Coinbase”
medium.com/p/our-employee…

Crypto Yury [LTC]


@Zerobacan

pic.twitter.com/9BYSCvR3k6
10:18 AM - Dec 20, 2017

http://www.breitbart.com/tech/2017/12/20/bitcoin-coinbase-surprise-launch-bcash/ 7/15
12/26/2017 The Bitcoin Community Is Furious with Coinbase's Surprise Launch of 'BCash' - Breitbart

1 24 138

Failure to Launch
Even as most traders were caught off guard by the launch, it seems Coinbase and GDAX
were not prepared, either. The site quickly halted the ability to buy and sell BCH — after
only four minutes of trading, according to GDAX’s status updates.

The sudden activation of BCH trades seemed to contradict multiple public statements
from the company. Coinbase VP Dan Romero wrote just days before the BCH launch that
“We are prioritizing security and performance over new features,” promising customers
that the company was more focused on integrating SegWit than adding new products to
the service.

“In terms of our engineering priorities, securely storing customer funds remains our top
priority,” Romero said. “Our next priority is to ensure that our platform remains
performant during periods of peak volume. Following security and performance, we are
focused on adding new features for our customers.”

Four days after publishing this blog, Coinbase launched a new feature that inarguably
choked its performance.

http://www.breitbart.com/tech/2017/12/20/bitcoin-coinbase-surprise-launch-bcash/ 8/15
12/26/2017 The Bitcoin Community Is Furious with Coinbase's Surprise Launch of 'BCash' - Breitbart

Jameson Lopp
@lopp

"Surprise! We're launching a new market in 3...2...1..."


6:27 AM - Dec 20, 2017

60 260 1,088

In addition, most users expected the company to limit Bitcoin Cash functionality to
withdrawals for at least a brief time period. Romero published a blog post on August 3,
several days after the creation of Bitcoin Cash, promising to give users access to their
forked coins by January 1, 2018. He seemed to suggest that trading support would come
“at a later date” — after the creation of BCH wallets for all Coinbase users. That
expectation was reinforced by a “road map” displayed on Coinbase’s website just days
before the launch (as seen in a December 13 archive here).

Coinbase @coinbase 20 Dec


Coinbase maintains a strict trading policy and internal guidelines for
employees. Coinbase employees have been prohibited from trading in
Bitcoin Cash for several weeks.

Andrea Disperati
@Andrea_Dispe

This was #Coinbase Roadmap published 4 days ago. this was


totally a misleading practice. No announcement, fake roadmap. You
just lost a shit ton of trust. Time to change exchanger.
pic.twitter.com/6GapqvYJr1
8:01 AM - Dec 20, 2017

61 396 1,034

LAUNDERS × BOXR @launders 20 Dec


Replying to @brian_armstrong
you had this plan a month ago? you launched 12 days early, changed
your faq and introduced BCH trading when you specifically listed it
would only be withdrawls. you want trust? lol start with doing what you
say.

SafteyFirst
@mononokeSnow

Don’t forget they posted THiS on coinbase less then 5 days ago! Is
he suggesting they didn’t know about there own $BCH launch 5
days ago? pic.twitter.com/biZWouJ0jG
10:40 AM - Dec 20, 2017

http://www.breitbart.com/tech/2017/12/20/bitcoin-coinbase-surprise-launch-bcash/ 9/15
12/26/2017 The Bitcoin Community Is Furious with Coinbase's Surprise Launch of 'BCash' - Breitbart

4 6 129

Brian Armstrong @brian_armstrong 20 Dec


I just published “Our employee trading policy at Coinbase”
medium.com/p/our-employee…

LAUNDERS × BOXR
@launders

you had this plan a month ago? you launched 12 days early,
changed your faq and introduced BCH trading when you
specifically listed it would only be withdrawls. you want trust? lol
start with doing what you say.
10:29 AM - Dec 20, 2017

6 18 330

Coinbase did not respond to an email from Breitbart News asking why the company
launched trading with almost no advance notice — instead of first giving users time to
withdraw and manage the BCH they gained during the August fork, then announcing a
future date when trading would begin. Coinbase did not answer whether an apparent leak
of BCH functionality in their API accelerated the decision to activate Bitcoin Cash trading.

At the time of this writing, the Coinbase website is still using placeholder images on the
page containing its instructions for BCH purchases.

Ezra Dulis
@ezradulis

How rushed was this launch? Coinbase's page titled "Buy Bitcoin
Cash" only loads graphics instructing people to convert USD to
Litecoin: coinbase.com/buy-bitcoincash

Archive here: archive.is/sYPkR


9:40 PM - Dec 20, 2017

http://www.breitbart.com/tech/2017/12/20/bitcoin-coinbase-surprise-launch-bcash/ 10/15
12/26/2017 The Bitcoin Community Is Furious with Coinbase's Surprise Launch of 'BCash' - Breitbart

“Price Manipulation”

After Coinbase and GDAX disabled Bitcoin Cash trades, users posted several screenshots
of the interface showing the coin’s price spiking way above $9,000, while on virtually all
other exchanges it hadn’t cracked $4,000. The Twitter account of a CNBC program used
one of these screenshots to tease an interview with Roger Ver on Wednesday.

CNBC's Fast Money


@CNBCFastMoney

#BitcoinCash
6:53 AM - Dec 20, 2017

391 132 341

BCH critics expressed concern that the appearance of such a dramatic price pump would
give unrealistic expectations for investors.

http://www.breitbart.com/tech/2017/12/20/bitcoin-coinbase-surprise-launch-bcash/ 11/15
12/26/2017 The Bitcoin Community Is Furious with Coinbase's Surprise Launch of 'BCash' - Breitbart

akira
@0xa59a2d

Coinbase: "We've added Bitcoin Cash!"


Bitcoin Cash: [pumps]
...
Bitcoin Cash: [dumps]
Coinbase: "Bitcoin Cash sales are currently disabled."

5:00 AM - Dec 20, 2017

16 62 210

Makram Kamaleddine
@makramkd

This is bizarre. #Coinbase introduces BCH, prices shoot up to over


$8k USD. Thousands of sell orders. Suddenly, price drops back
down by over $5k. Price manipulation at it's finest. #HODL $BTC.X
#GDAX
6:52 AM - Dec 20, 2017

1 1

Brian Armstrong @brian_armstrong 20 Dec


I just published “Our employee trading policy at Coinbase”
medium.com/p/our-employee…

Saurav Shrestha
@realsshrestha

Kinda weird timing man. Now tomorrow Roger Ver showing CNBC
a screenshot of BCH at 8500 on CB app so when holiday shoppers
with dispensable income and cryptolust see its 3k they’re gonna
jump on the “deal”.
10:06 AM - Dec 20, 2017 · Centreville, VA

7 26 212

http://www.breitbart.com/tech/2017/12/20/bitcoin-coinbase-surprise-launch-bcash/ 12/15
12/26/2017 The Bitcoin Community Is Furious with Coinbase's Surprise Launch of 'BCash' - Breitbart
The morning after, that spike was no longer visible on the site’s price chart for Bitcoin
Cash.

Coinbase @coinbase 20 Dec


An update on Bitcoin Cash for our customers: sends and receives are
functional.

Buys and sells on Coinbase.com and in our mobile apps will be


available to all customers once there is sufficient liquidity on GDAX.
We anticipate that this will happen tomorrow.
twitter.com/GDAX/status/94…

-rockin
@Cryp_walkin

funny how they are scrubbing right now trying to get rid of all the
evidence pic.twitter.com/ltWkAH9Bmc
8:22 AM - Dec 20, 2017

14 43 208

At the time of this writing, Bitcoin’s price has dipped to around $16,400 per full unit,
down from a high earlier this week of about $20,000 but roughly the same as it was one
week ago. Bitcoin Cash is currently trading about $4,000 per full unit, according to
CoinMarketCap.

BOYCOTT
The Bitcoin community is doing everything it can to make Coinbase feel the heat for the
events of the past 24 hours — with many of the company’s critics urging others to boycott
or delete the app and promoting a rival exchange called Gemini.

Pumpy ฿rewster [It's Bcash Okay!]


@PumpyBrewster

Boycott Coinbase and put these scum out of business. Use Gemini
instead. #BoycottCoinbase
7:20 AM - Dec 20, 2017

9 92 327

WarriorPoets
@SurlyBull

Coinbase short-sighted money grab is @GeminiDotCom 's gain.


Trust is the number one concern for new adopters and nobody can
trust Coinbase after today. #bitcoin #Coinbase #Crypto
surlybull.com/coinbase-bitco…
1:11 PM - Dec 20, 2017

http://www.breitbart.com/tech/2017/12/20/bitcoin-coinbase-surprise-launch-bcash/ 13/15
12/26/2017 The Bitcoin Community Is Furious with Coinbase's Surprise Launch of 'BCash' - Breitbart

Coinbase and Bitcoin Cash Scheme Damages Trust in Cryptocurr…


A layman's explanation of the Coinbase and Bitcoin Cash controversy.
Coinbase damages trust in industry amid complaints of deception and
surlybull.com

35 266 610

Adam Selene
@green18bean

Personally closing two millionaire accounts on @coinbase today


and shutting off auto purchase. Goodbye @brian_armstrong I truly
hope you become Myspace. #BoycottCoinbase #bitcoin #
7:56 PM - Dec 20, 2017

6 30 106

Personally, I’m not sure that I will stop using Coinbase’s GDAX platform — which allows
me to exchange small amounts of USD for Bitcoin without any fees. And I doubt that a
Twitter campaign will make a noticeable dent in the company’s bottom line; it has millions
of users and processes billions of dollars in assets. But Coinbase users, like anyone buying
from digital currency exchanges, should exercise extreme caution and make sure
that you own your Bitcoin. The whole point of the technology is to have trustless exchange
— and it’s becoming clearer that any centralized store or exchange of assets should not
automatically be trusted. Always remember to store your assets offline if possible, in
hardware or paper wallets, or on a device that is only connected to the Internet when you
need to use it.

This article should not be considered financial advice or a recommendation to buy or sell
any assets as investments.

Ezra Dulis is Deputy Managing Editor of Breitbart News. Follow him on Twitter or on
Steemit.

Read More Stories About:


Economics, Tech, bitcoin, Bitcoin Cash, blockchain, Coinbase, Cryptocurrency, GDAX,
Jihan Wu, Roger Ver

FROM THE WEB Ads by Revcontent

21 Tragic Selfies ‫أﻛﺘﺸﻒ اﻟﺴﺮ وراء ﺗﻀﺨﻢ اﻟﺤﺴﺎب‬ After Losing 250
Taken Seconds ‫اﻟﺒﻨﻜﻲ ﻟﺒﻌﺾ اﻟﻔﺘﯿﺎت اﻟﺴﻌﻮدﯾﺎت‬ Pounds Rebel Wilson
Before Disaster ‫؟؟‬ is Unbelieveably
Struck topvipdreams Gorgeous
http://www.breitbart.com/tech/2017/12/20/bitcoin-coinbase-surprise-launch-bcash/ 14/15
12/26/2017 The Bitcoin Community Is Furious with Coinbase's Surprise Launch of 'BCash' - Breitbart
Viraloften Fitness Morale

The Most Iconic Mechanics Furious at Rare Unnerving


Royal Weddings of This New Device Photos Not Suitable
All Time CarDoc for History Books
MyLifeStyleMag Story Dropper

The World's Fastest Chris Christie Just 29 Very Oddly Timed


Airplane Said Marijuana Will Vacation Photos
Hackitout 'Lead to More Death' FitnessMorale
Civilized

P.S. DO YOU WANT MORE ARTICLES


LIKE THIS ONE DELIVERED RIGHT TO YOUR INBOX?
SIGN UP FOR THE DAILY BREITBART NEWSLETTER.
Enter your email address

YES, SIGN ME UP!

Comment count on this article reflects comments made on Breitbart.com and Facebook.
Visit Breitbart's Facebook Page.

Copyright © 2017 Breitbart EXPLORE BREITBART CONNECT


SEARCH Big Government London The Conversation Facebook

ADVERTISE WITH US
Big Journalism Jerusalem Privacy Policy Twitter
Big Hollywood Texas Terms of Use RSS
National Security California Breitbart Jobs Send us a tip

Tech Store
SIGN UP FOR OUR
Video EMAIL NEWSLETTER
Sports
Enter your email
The Wires
SIGN ME UP

http://www.breitbart.com/tech/2017/12/20/bitcoin-coinbase-surprise-launch-bcash/ 15/15