Coinbase adds bitcoin cash, giving momentum to bitcoin rival
Dec 22, 2017, 00:54
Until yesterday, Coinbase only participated in three markets - Bitcoin, Ethereum, and Litecoin.
Since Coinbase didn't deal with Bitcoin Cash at the time, its users were left out, but Tuesday's decision aimed to correct that. "If we find evidence of any employee or contractor violating our policies - directly or indirectly - I will not hesitate to terminate the employee immediately and take appropriate legal action".
Shortly after the kickoff, the price skyrocketed, with Coinbase's online exchange GDAX showing quotes as high as $US9,500 ($12,400), more than triple what Bitcoin Cash trades at on other exchanges.
Smooth trading aside, the situation sparked controversy following allegations that insider trading may have occurred ahead of the BCH market launch on Coinbase.
But Hong Kong-based Cryptomover said that the price plunge was caused mainly by some miners shifting away from Bitcoin to Bitcoin Cash.
Bitcoin Cash is now trading at roughly $4,300 on Coinbase. Bitcoin itself tumbled about 10 percent after the news late Tuesday in the U.S. and registered its biggest one-day drop in about three months.
Cryptocurrency hard fork Bitcoin Cash was created back in August as the result of a "hard fork" of Bitcoin itself. Bitcoin cash started rising before Coinbase'sannouncement, which led CEO Brian Armstrong to announce he was looking into the potential activity.
Trading in bitcoin cash will be suspended until 1200 ET on Wednesday, according to Coinbase'sstatus page. Attempts to contact the creators of bitcoin cash were unsuccessful. According to cryptocurrency tracker Coinmarketcap, at roughly 01:55 GMT, the Bitcoin price hit a record level of $3,813.70. An account for Whalepool, which describes itself as a community of day traders focused mainly on bitcoin and other cryptocurrencies, commented, "Very odd accumulation and pump on Bcash in the hours leading up to the @Coinbase BCH add". The policy prohibits employees and contractors from trading on 'material non-public information, ' such as when a new asset will be added to our platform.
As Bitcoin Cash has become more tradeable thanks to an increase in the number of miners, individual investors are purchasing more Bitcoin Cash, which is more affordable than Bitcoin.
While there's nothing yet to indicate whether there was anything explosive in those emails, the administration is clearly spooked. The emails in question involve 13 transition officials, including four senior ones, according to the letter .
Michelle even co-hosted the opening ceremony of the Invictus Games with Prince Harry when it came to Florida a year ago . In the teaser released by the palace, Prince Harry outlines how the interview will proceed to a relaxed Mr Obama .
Rain chances this afternoon will remain low at 30%, but you may want to carry the umbrella for the chance of a couple of showers. By Friday morning , up to eight inches of snow has been forecast in the Scottish Highlands by STV weather presenter Sean Batty.
But other models bring that cold air to the Northeast ahead of the storm, and wintry precipitation right along with it. Uncertainty is still high, so we can still easily be sitting around in short sleeves and shorts on Christmas Day.
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