I am not a Bitcoin “maximalist” — people who invest only in Bitcoin and aspire to use only Bitcoin for all of their financial transactions.
I see merit in other digital currencies and decentralized apps for various uses, but I do want Bitcoin to succeed in the long term and tend to agree with Bitcoin maximalists’ criticisms of Bitcoin Cash.
#Bitcoin #BTC #BCH #Crypto #hyperbitcoinization pic.twitter.com/ABKLH5DLSA — DC [HODL] (@bitcoinization) December 20, 2017 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. #bitcoin #bcash #bch pic.twitter.com/le X8ro0MFf — Whalepool (@whalepool) December 20, 2017 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.
— Samson Mow (@Excellion) December 20, 2017 hey @coinbase , @GDAX and @brian_armstrong by being part of a product index for @CMEGroup you agreed to certain rules. — I am Nomad (@Iam Nomad) December 20, 2017 @rogerkver pubicly accumulated the majority of BCH just before @Coinbase listed the coin.
Since bch news was clearly leaked around pm CST to certain parties. Roger & @brian_armstrong worked together for years to remove Core.
They cite 2017 profile of Coinbase’s CEO Brian Armstrong, which reveals that he owns more Ethereum than Bitcoin.
They feel the company is dragging its feet on integrating Seg Wit, a code upgrade to reduce the cost and speed of BTC transactions which will also enable the use of an upcoming upgrade called Lightning.
Until Tuesday, Coinbase only exchanged fiat currency for Bitcoin, Litecoin, and Ethereum.
Before we get further into the story, consider my biases: I am a Coinbase/GDAX user.
The general reaction to Coinbase’s BCH launch appears to be a widespread lack of trust and allegations of incompetence — or worse, market manipulation/crimes.