Bitcoin

New Petition Aim to make BTC Cash a Default Trading Market on Coinbase

JP Buntinx | January 11, 2018 | 1:00 pm
Bitcoin Cash a Default Trading Market on Coinbase
Bitcoin

New Petition Aim to make BTC Cash a Default Trading Market on Coinbase

JP Buntinx | January 11, 2018 | 1:00 pm

A lot of people are fed up with Bitcoin’s many issues. High fees, slow transactions, and nearly no merchant appeal are all very worrisome trends. As a result, the Bitcoin Cash community has come up with a new idea. Through their Change.org petition, they want to make BCH the default trading market on Coinbase. Although the exchange supports BCH already, it’s still in somewhat limited capacity. Whether or not Coinbase will pay any attention to this request, remains to be determined.

Whether or not Bitcoin will remain the top dog of cryptocurrency, is a big unknown. Although it’s the most valuable cryptocurrency, that situation may not last much longer. Ongoing issues plague the network and the status of this new form of money. Bitcoin Cash is more efficient in virtually every single way. The ensuring friction makes it rather difficult for people to remain supportive of BTC. In fact, it seems we may witness a big shift to BCH sooner or later.

Shaping the Future of Bitcoin Cash on Coinbase

More specifically, there’s a petition regarding Coinbase and Bitcoin Cash. In this petition, the BCH community demands Coinbase prioritizes this altcoin over Bitcoin “Legacy”. An interesting turn of events, although there’s no guarantee for success whatsoever. After all, Coinbase will do what is best for business in their opinion. Right now, that means support Bitcoin as the main trading market for altcoins.That doesn’t mean this situation may not change in the future, though. For now, however, the company has yet to respond to this petition.

On paper, it makes sense for the community to demand additional support for Bitcoin Cash. After all, a petition like this may effectively have an impact in the long run. Although it seems unlikely right now, the company will not just ignore this request either. Bitcoin Core is fragile, expensive, and unreliable, the petition claims. Furthermore, a few companies now prioritize BCH over BTC. BlockExplorer.com is one of the most recent examples of this shift. Rest assured they will not be the last company to do so.

Making Bitcoin Cash the new Bitcoin will not be easy, though. It doesn’t have overwhelming miner support and the market cap is a lot lower, to name a few things. All of this can be overcome in due time, but for now, it seems BTC will reign supreme. At the same time, it may very well be a good moment to introduce some big changes. There’s no reason why Coinbase can’t have BTC and BCH markets for all other supported currencies. We will have to wait and see how the company responds to this new request.

Tags: , ,
  • Jordi Grant Esteve

    BCash potentialize miners not people. They removed Segwit from the core. This makes sure no payment will ever occur out of the main chain. This protects miners and does not stimulate peers. Instead of defending a coin created by miners and business men why not to focus on resolving Bitcoin issues.

    • Pete

      Just come to realization that BTC is over. Move your money to BCH and get more rich. Seems pretty easy and logical to me, no?

      • arenosa

        Exactly. Extremely hassle free and logical to get richer that easy… Do you think that BTC is going to let it go that easily its Lion King position?

  • Jon Blowhard

    is there a Bitcoin community like there is a Bitcoin Cash community? I mean, does anyone develop or try to improve Bitcoin and if so, why are they hiding?

  • Roeks Griessel

    There should rather be a petition for Coinbase to implements segwit. Coinbase is absolute bias and in bed for money with BCash owners. Coinbase must support decentralized money not centralized money. So Ripple Bcash and the likes should not even list on Coinbase. It is people like Armstrong that is delaying the victory of decentralized money over centralized money and fiat

NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins. Here at NewsBTC, we are dedicated to enlightening people all around the world about bitcoin and other cryptocurrencies. We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies.

Get the app

Featuring live charts, price analysis, breaking news, currency converter and more. The only bitcoin app you need!