PSA: Coinbase goes full BTC

Just another BTC buying opportunity. It hasn't been rekt so far, and it'll take a lot more than this. Weak hands pls go.

How does this effect me if i have everything in eth and alts?

correct. they're telling everyone they won't support BCC so you'll think it's worthless and leave your BTC on jewbase. move your BTC to whatever wallet you have on your pc.

If you're not already doing this, you deserve to get fucked where the shit falls out.

You should hedge your alts into BTC and keep your ETH. Shitcoin fad is over, and they're going to tank whether BTC does good or bad on the 1st.

#
I agree while heartedly.
Look at that other post. It's going to be interesting.
Stay frosty.

Also, where are the weak hands there senpai? I am literally hodling. Jesus, get the nomenclature.

Coinbase has no reason to steal customer funds, they're making a shitload of money on fees. If Coinbase had stolen customer BTC then they wouldn't take an action which encourages customers to withdrawal.

Makes no sense for shitcoins to tank after the 1st, BTC dominance should be up prior with market trying to jew themselves the BCC or just be in position for quick bail in the event it starts to go south. Total cap possibly falling with some preferring to watch from the sidelines. If the fork tanks the BTC itself, which it could on sell the news, maybe we see ALTs take the usual dive

We all just got the same email genius.

they aren't encouraging people to withdraw when they're saying BCC is worthless.

The weak hands are the fools bragging about cashing out into USDT. The only winners in this game are long term thinkers. Buy when it's low, hold when it's high, cash out when your goals are met.

Agreed, however know that they will be collecting the BCC. If they bet it all on BTC, they could collect the BCC that is their customers and use that as a sell cudgel to drive the competing monetary unit, BCC into the ground. This would allow continued BTC dominance, bet them millions and insure that their customers investments are "safe."

Alts are already in the toilet, don't kid yourself. The smart money rode the May wave and exited into BTC/ETH. They do well on BTC uncertainty. After the 1st, whatever happens, the uncertainty factor will be gone. Shitcoins are over.

>27 Minutes later
Yawn, I am getting sleepy, senpai

But ALTs do not do well on BTC uncertainty

Word.
I am looking forward to grabbing som discount BTC between now and 8/1. Or selling at over 3k

Alts derive their value from the idea that they might be the next BTC. Which implies they do something BTC can't. That's how ETH marched up to $400...BTC's infighting and massive transaction delays. Then alts jumped in to ride the wake of ETH's success. Once BTC sorts itself out, it's all over. ETH will probably remain viable just because it's had time to establish itself. Shitcoins are dead.

So they're stealing all their customer's BCC then?

Coinbase has every reason to use customer funds to support it's business model.

You are short-sighted if you think of it as stealing since when you deposited you gave them every right to do whatever they so deemed fit to manage your coins.

Hint, they make money on both buying and selling however there cannot be a 1:1 ratio otherwise they would not make enough money on top of what they are doing.

There is a reason the exchanges don't want to be regulated, because the second the release the regulations they would appear closer to a bank than a true exchange.

>Hint, they make money on both buying and selling however there cannot be a 1:1 ratio otherwise they would not make enough money on top of what they are doing.

you don't understand how an exchange works then

>This will cause an exchange (I.E. Bank) run when people recognize they don't actually have every coin they say they have.
This is why you shouldn't keep your money on an exchange for very long.

Yes.maybe.
If they are, they can do three things with it.
1. Dump the BCC for a low USDT price making them millions
2. Dump the BCC for a low USDT price showing that their bet, BTC, was the correct bet
3. Dump the BCC for a low USDT price insuring that their customers will feel secure with their BTC price.
Hmm.
This sucks. I feel squeezed.

But the next BTC only mattered in the first place because of it's extreme performance, so wouldn't an even stronger BTC only bolster this idea and jack the FOMO on next BTCs?

definitely. They hold the private key so they can access the fork. They'll likely have millions and millions worth of BCC available to them, why the hell wouldn't they grab it?

If it barks like a dog, and it craps like a dog but it calls itself a cat does that mean it ceases being a dog?

Yes

In theory. But what's the "next BTC"? BCC? It's definitely not DGB/ARK/XBY/MNR/(insert shitcoin here). BTC and ETH are going to be gold and silver in the crypto world for years to come. Shitcoins have value like fool's gold has value - it vaguely resembles something important. That's all.

One last PSA attempt: Move everything but ETH into BTC tonight. Then withdraw into a private wallet. You should be hodling nothing but BTC/ETH on Aug 1st.

DCR. If not "next BTC" it's the "next next BTC". You gotta be patient though.

Your money is yours to do with as you please. That's the beauty of America my friend.

sure man. As to your previous comment I think BTC gonna dump right after the BCC split so I'd follow your advice up until right before the split, sell, and then buy however much BCC/BTC you want for half the price.

What exactly is stopping Crypto exchanges from lending out the coins deposited on them?

nothing except fear of punishment. Which is why you should always control the private key.

It very well might. Truth is I don't have the stomach/time for day trading crypto. I just accumulate and hold. I dabbled in alts earlier this year and wound up disappointed and back into BTC/ETH. To each his own.

CHANKS BTFO

The next BTC is just all of them like it is now, a top 5 could have made you mega rich, so there's next top 5s, next top 10s, where the tops just keep getting fatter and stronger and we have a million worthless shitcoins. Like internet.

R u some kind of moron

Move you BTC to a hard wallet ASAP.

I guess that makes sense. I rolled the dice big on ETH last year and we know how that turned out. My risk tolerance is a lot lower these days. I'm happy to see where BTC goes.

Do you have an argument?

Coinbase doesn't want to be called a money transmitter, they aren't thrilled about being commodity market and they would never survive if they were called what they are closest to which is a bank.

Remember, they are no better than a bucket shop Forex market.

Except LTC. Look at it during BTC uncertainty, it moved up. Even as it fell versus BTC this last week, it was up versus USDT, that might have been due to people trying to shelter and then moving $ out.

What's a bucket shop? Like a place to fill buckets or a 5 gallon bucket in a sea?

You don't know what a bucket shop is yet you are advocating people move money in a certain way in a currency market?

>What's a bucket shop

>DEFINITION of 'Bucket Shop'

>1. A fraudulent brokerage firm that uses aggressive telephone sales tactics to sell securities that the brokerage owns and wants to get rid of. The securities they sell are typically poor investment opportunities, and almost always penny stocks.
>2. A brokerage that makes trades on a client's behalf and promises a certain price. The brokerage, however, waits until a different price arises and then makes the trade, keeping the difference as profit.
>BREAKING DOWN 'Bucket Shop'
>1. Bucket shops are sometimes called the boiler room. The U.S. has laws restricting bucket shop practices by limiting the ability of brokerage houses to create and trade certain types of over-the-counter securities.
>2. The second definition for a bucket shop comes from more than 50 years ago, when bucket shops would do trades all day long, throwing the tickets into a bucket. At the end of the day they would decide which accounts to award the winning and losing trades to.

Investopedia definitions.

I'm more referring to definition 2 which is how the majority of the retail Forex market operates.

Fawking home run.

Yeah I watched all that and was apparent LTC was being used as a hedging ground for BTC, the more of that we see the bigger the trend should become. Next big event that should dip BTC I will be giving it a try.

ok, so I have my btc in a paper wallet, shit forks, now I have for example 1 btc and 1 bcc. Do they have the same private key? if I sell 1 bcc do I still have my btc?

cuz theres no way to get the funds back

evidence for coinbase being a bucketshop rather than an exchange/ECN?

yes its still the same private key.

what you would need to do is get the wallet software that is made for the original chain (BTC) and the 2nd wallet software made for the forked chain (BCC). then you can import the same key into both software and send your coins out.

you should be very careful about this though, lots of people fucked it up during the eth fork and were sending coins to addresses on the opposite chain.

just chill and read some tutorials or something after the fork happens so you understand it completely

your the tits, thx

did he died?