CoinBase halts Bitcoin Cash transactions 4 minutes after making it available

bitcoin-cash

Today was an exciting day in the Bitcoin world as popular cryptocurrency marketplace CoinBase announced the addition of Bitcoin Cash. If you don’t know what Bitcoin Cash is, here’s a very quick two sentence primer:

Bitcoin Cash is a fork (a hard fork to be exact) of Bitcoin. A fork simply means taking a piece of software and writing new code on top of it creating a distinct and separate piece of software.

While I could go into a lot more detail, I’ll save that for another time. If you really want to do a deeper dive you can read all the fun stuff about the difference between Bitcoin and Bitcoin Cash here.

bitcoin-cash-halted-coinbase

Like the title of this post says, it honestly only took four minutes for CoinBase to get completely overloaded with customers ready to buy Bitcoin Cash. At the same time, Bitcoin fell 15% off it’s all time high and currently sits at $16,922. Wow – I honestly never thought I’d be talking about Bitcoin declining in price and mentioning a number in the 16 thousands…what a world we’re living in.

I digress.

There are two pretty interesting things happening here:

  1. A marketplace can introduce a new cryptocurrency and seemingly impact the price of another cryptocurrency
  2. A lot of people are excited and ready to buy Bitcoin cash

To me this sounds almost like a self fulfilling prophecy. Will all this excitement just drive the price of Bitcoin Cash up, causing more people to write about Bitcoin Cash, getting even more people excited about it and continuing to drive up the price. If that happens, will Bitcoin continue to fall in value?

Okay, you’ve heard enough from me, now I want to hear from you – comment and let your voice be heard!

{ 6 comments… add one }

  • Anunt December 19, 2017, 9:27 pm

    I thought coinbase was going to offer bch in 2018.
    I need to step up my crypto game.
    Wait, is cryptogames.com available…
    be right back

    Reply
  • John M. December 20, 2017, 2:40 am

    Morgan I believe im correct in saying that BCH is simply an advanced technology and the best analogy is to think of it as a “stock split” from Bitcoin. When you have guys like Rodger Ver- Mcafee etc backing it is there really any wonder that it will pop at the open? In 4 minutes it went from $3200 to almost $9000. Here’s where the “tell” will be imho if GBTC comes out and says that this ETN has replaced their bitcoin with BCH. The reason? GBTC is backed by some of the brightest minds on the planet in fintech. Happy Holidays!

    Reply
    • John M December 20, 2017, 3:13 am

      p.s. We should add that we’re looking for a drop in GBTC of approx. 70% eventually to $1,100

      Reply
  • Fatih OZTURK December 20, 2017, 3:47 am

    After yesterdays post i guess i am right. What will the price be if hundreds of crptocoins are introduced to the market then?

    Reply
  • Chris Martin July 14, 2018, 12:24 pm

    I’ve made some amout with BTCPeek but I found on google that which cryptocurrency should i buy

    Reply
  • Leandra Hyche July 28, 2018, 8:43 am

    Got my wifes emails from the wild hacker crew , good service but the bitch was cheting in me link: http://456bosfo4pgtbrv3.onion . You must use TOR browser to access.

    Reply

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