The crypto game continues to get more and more interesting, with a new storyline emerging tonight on Coinbase. On Tuesday night the biggest cryptocurrency exchange in the United States added Bitcoin Cash to it’s exchange. Except it immediately halted transactions of the BTH while the price skyrocketed, locking millions out of the opportunity to get in on a new crypto surge.
The charts tell the story. LOOK AT THIS MADNESS:
The Bitcoin Cash chart on @coinbase tonight 🤷♂️ pic.twitter.com/7EjliG1K6h
— Troy Osinoff 🕺 (@yo) December 20, 2017
Earlier today, Bitcoin Cash skyrocketing in price yet no one able to get in on a *relatively* low price:
https://twitter.com/Cernovich/status/943294740660854784
WTF is going on? Bitcoin Cash @ $8499 pic.twitter.com/d4Q9fYByn3
— Vinny Lingham (@VinnyLingham) December 20, 2017
Meanwhile, folks on Twitter are starting to speculate there was something fishy — if not straight up sinister — going on in the gold rush. You’ll recall that *JUST YESTERDAY* the founder of Bitcoin.com said he was out on Bitcoin and putting all his money in Bitcoin cash. Hmmm: Foreshadowing or market manipulation?
Exhibit A:
Very strange accumulation and pump on Bcash in the hours leading up to the @Coinbase BCH add. If I didn't know better, I'd think that was potential insider trading activity. @GDAX 'ed? #bitcoin #bcash #bch pic.twitter.com/leX8ro0MFf
— Whalepool (@whalepool) December 20, 2017
Meanwhile, over at Coinbase:
Coinbase maintains a strict trading policy and internal guidelines for employees. Coinbase employees have been prohibited from trading in Bitcoin Cash for several weeks.
— Coinbase 🛡️ (@coinbase) December 20, 2017
https://twitter.com/Aridude1/status/943293424484208646
https://twitter.com/fxtornado/status/943292186535198720
Back in July, when Bitcoin Cash launched, Coinbase said it wasn’t going to support BTH: “Our policy is to support only one version of a digital currency. In order to determine which fork to support, we look at factors such as size of the network, market value and customer demand. We make this decision carefully, because safely supporting a new digital currency requires significant work for many teams.”
Makes you wonder what caused someone to change their mind. Bitcoin Cash is an altered version of blockchain that processes more transactions at a faster speed. But that doesn’t explain the insane surge that just went down on Coinbase:
https://twitter.com/JOSEPHOCON1/status/943305841624563712
And now it’s dropped back to a trading price *around* where it was when people started getting locked out:
The Bitcoin Cash chart on @coinbase tonight 🤷♂️ pic.twitter.com/7EjliG1K6h
— Troy Osinoff 🕺 (@yo) December 20, 2017
What a shit show. The crypto game is officially the craziest reality television show of all time.