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As Bitcoin Gold Jumps 50%+ in one day, time to ask... what is Coinbase doing with all those fork funds they've not supported?

Today Bitcoin Gold (BTG) has a MC of $2,630,984,532, each are worth $156.47. In the past 24hrs the price has outperformed most jumping almost 50%+.
BTG hard forked from Bitcoin on 24 October 2017, and has survived for months now.
Here was the Coinbase official stance on the matter from last year:
https://support.coinbase.com/customeportal/articles/2892196-bitcoin-gold-faq
You can see a list of all the major exchanges and wallets that have now implemented support for BTG here which include Bitfinex, Binance, Shapeshift, Ledger, Trezor etc
https://bitcoingold.org
GDAX Coinbase's exchange is still tagged as "future".
Todays spike is a strange one as there has been a fair amount of community cynicism over BTG in the past.
Some of the controversies outlined on its wiki included post-mining, bonus taking, secret mining code and wallet hacks.
https://en.m.wikipedia.org/wiki/Bitcoin_Gold
That said when you think about the amount of money being retained by large exchanges such as coinbase from all the forks such as BTG, it ptobably eclipses anything BTG has done value wise. In fact BTG has probably posted more updates than Coinbase on the BTG funds they're holding.
The obvious reminder is always retain your private keys yourself, keep them in a hard wallet away from the exchanges or you'll always run the risk of not being able to benifit frim the growing number of hard forks.
That said, I think many newcomers, particularly using gateway exchanges to buy gateway crypto's have just got to grips with concept of Crypto and buying it.
I can understand how then buying hardware wallets and transferring crypto to them could be a daunting task.
I think for those people, maybe lured in to crypto with the likes of Coinbase referral programs really deserve to get at least regular updates from exchanges that are not supporting forks... how, where, why and when.
Also this doesn't include Airdrops where new ICO cryptos are distributed relative to someones holdings of another Crypto such as Bitcoin or Ethereum... again Exchange hodlers are missing out.
Companies and stock brokers need to keep investors updated when issuing dividends to shareholders,
That helps investors to make the educated decision whither or not to keep their money in invested in that company or not for the longterm.
Exchanges should be doing the same for forked funds.
I think with ever new fork that emerges Coinbase are setting themselves up for future legal challenge of somesort, forcing them to go back and support/ distribute all the forked funds they are holding.
This was evident in the case of Bitcoin Cash as it was only rumors of legal action against them that really seemed to get them to up their game.
This is a the risky cloud that will hang over them, particularly when going out for more rounds of funding their growth, as it's a big question mark future risk investors.
They need to be proactive addressing forked funds, instead of just bottling up a future storm by ignoring them.
All in all forks aren't really Coinbase's fault, but their lack of updates are. They have warned people just to take their crypto off the exchange in the past, but when at the same time as they are priding themselves on and encouraging the sign ups of newcomers that maybe aren't as technically minded I don't think this is enough?
submitted by jam-hay to CryptoCurrency [link] [comments]

[uncensored-r/CryptoCurrency] As Bitcoin Gold Jumps 50%+ in one day, time to ask... what is Coinbase doing with all those fork ...

The following post by jam-hay is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/7wg4kq
The original post's content was as follows:
Today Bitcoin Gold (BTG) has a MC of $2,630,984,532, each are worth $156.47. In the past 24hrs the price has outperformed most jumping almost 50%+.
BTG hard forked from Bitcoin on 24 October 2017, and has survived for months now.
Here was the Coinbase official stance on the matter from last year:
https://support.coinbase.com/customeportal/articles/2892196-bitcoin-gold-faq
You can see a list of all the major exchanges and wallets that have now implemented support for BTG here which include Bitfinex, Binance, Shapeshift, Ledger, Trezor etc
https://bitcoingold.org
GDAX Coinbase's exchange is still tagged as "future".
Todays spike is a strange one as there has been a fair amount of community cynicism over BTG in the past.
Some of the controversies outlined on its wiki included post-mining, bonus taking, secret mining code and wallet hacks.
https://en.m.wikipedia.org/wiki/Bitcoin_Gold
That said when you think about the amount of money being retained by large exchanges such as coinbase from all the forks such as BTG, it ptobably eclipses anything BTG has done value wise. In fact BTG has probably posted more updates than Coinbase on the BTG funds they're holding.
The obvious reminder is always retain your private keys yourself, keep them in a hard wallet away from the exchanges or you'll always run the risk of not being able to benifit frim the growing number of hard forks.
That said, I think many newcomers, particularly using gateway exchanges to buy gateway crypto's have just got to grips with concept of Crypto and buying it.
I can understand how then buying hardware wallets and transferring crypto to them could be a daunting task.
I think for those people, maybe lured in to crypto with the likes of Coinbase referral programs really deserve to get at least regular updates from exchanges that are not supporting forks... how, where, why and when.
Also this doesn't include Airdrops where new ICO cryptos are distributed relative to someones holdings of another Crypto such as Bitcoin or Ethereum... again Exchange hodlers are missing out.
Companies and stock brokers need to keep investors updated when issuing dividends to shareholders,
That helps investors to make the educated decision whither or not to keep their money in invested in that company or not for the longterm.
Exchanges should be doing the same for forked funds.
I think with ever new fork that emerges Coinbase are setting themselves up for future legal challenge of somesort, forcing them to go back and support/ distribute all the forked funds they are holding.
This was evident in the case of Bitcoin Cash as it was only rumors of legal action against them that really seemed to get them to up their game.
This is a the risky cloud that will hang over them, particularly when going out for more rounds of funding their growth, as it's a big question mark future risk investors.
They need to be proactive addressing forked funds, instead of just bottling up a future storm by ignoring them.
All in all forks aren't really Coinbase's fault, but their lack of updates are. They have warned people just to take their crypto off the exchange in the past, but when at the same time as they are priding themselves on and encouraging the sign ups of newcomers that maybe aren't as technically minded I don't think this is enough?
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

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Bitcoin Correction, The Last Dip? Binance, McAfee Crypto - Cryptocurrency News

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