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Comment by fpgaminer

Anyone who doesn't understand Coinbase's reluctance to add support for BCH, or any other altcoin, needs to understand this hypothetical scenario:

1) I'm a long time miner who owns a massive wealth of Bitcoins.

2) I fund some developers to create a hardfork.

3) I dedicate a small percentage of my mining power to prop up the new coin.

4) Coinbase adds support for the new coin.

5) I deposit all my new split coins at Coinbase, trade for BTC, and withdraw BTC.

6) Using the rest of my mining power I then reverse the depositing transactions to Coinbase by double spending.

7) Profit.

I think it's positively absurd that _any_ exchange is supporting BCH.

But to each their own peril.

parent fpgaminer 9 years ago

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