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Bitcoin Fork Blues? These New Yorkers Threw a Party Instead

Bitcoin Fork Blues? These New Yorkers Threw a Party Instead

Investors who held bitcoin on most exchanges as of Tuesday morning, at the time of the split should have automatically received the equivalent amount of bitcoin cash, according to commentators. As that currency's price slipped, Bitcoin's showed renewed strength as its price soared past the $3,100 mark late in the evening.

"From an investor's point of view, we invested in Coinbase because they have made a voluntary commitment to be regulated", Schuler said, "and to focus on being trusted and safe - as safe as you can be in an experimental environment like this".

That's because Coinbase's conservative approach make cryptocurrency more accessible to ordinary folks who might be afraid to dabble in technologically complex digital currencies.

Bcash duplicated the original bitcoin blockchain, meaning that anyone holding BTC was entitled to Bcash, but not all exchanges - including Coinbase, supported the forked currency from day one.

The platform now supports transactions for only three cryptocurrencies: Bitcoin, Litecoin, and Ethereum.

It has undergone several exchanges including the popular destinations like the Coinbase and Kraken.

Those 10 Bitcoin Cash were worth almost $8,000 then. When private keys are exposed, bitcoin can be stolen from users and redirected to external or alternative wallets. Despite rumors, Bitcoin Cash has performed well and is now the third most valuable cryptocurrency - right below the Bitcoin and Ethereum.

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The original bitcoin traded Friday almost 3 percent higher at $2894.91, holding near Tuesday's highs, according to CoinDesk. He said that is the date the bell tolls for bitcoin cash.

Gaining support from the most trusted digital currency trading platform in the world is probably a good first step.

Bitfinex is a Hong Kong-based cryptocurrency exchange, which also provides margin trading. This is a rise of $750 per bitcoin since just ten days ago when the price fell to just $2550 due to fears of the effects of a fork on the original blockchain. Coinbase hopes to have it ready by January 1, 2018, which applies to GDAX as well.

That Coinbase has made a decision to support Bitcoin's other half indicates that it may yet have a chance to rally beside the original coin.

In a blog post published yesterday, the company assured its customers that they would eventually get access to that digital currency.

Sebastian Quinn-Watson, a venture partner for Blockchain Global, an Australia-based exchange, said some traders have said they will exit their BCC positions by August 8.


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