Investors own their Bitcoins, not Coinbase! Coinbase must give equal amount of Bitcoin Cash otherwise we should expect Coinbase Bitcoin Cash lawsuit!
1 August, Bitcoin News – Let’s get our facts straight! Cryptocurrency exchange portals are just gateways for investors to keep and invest their properties, cryptocurrency. Coinbase users just like other platforms have the right to get their Bitcoin Cash due to the hard fork. Thus, denying this right, Coinbase and any other cryptocurrency exchange platform simply open their doors for possible Bitcoin Cash lawsuit.
Coinbase Bitcoin Cash lawsuit expectations
Bitcoin and other digital assets qualify as property of their owners. Thus, denying investor rights to get their equal amount of Bitcoin Cash is simply contradicting to common law, property laws. Property laws dictate that the product of an asset will also belong to the owner of the original asset.
So, let’s sum it up. Each Bitcoin holder is entitled to an equal amount of Bitcoin Cash. So, if Coinbase denies their customers of this right, then they deny their customers from what is rightfully theirs. Already, many of the coinbase clients said in this case they either will leave Coinbase or mobilize together in attempt to create a joint Coinbase Bitcoin Cash lawsuit.
Coinbase Bitcoin Cash denial explanation
Coinbase has been publicly commenting that they do not and will not support any currency emerging from Bitcoin Hard Fork. Coinbase Bitcoin Cash denial explanation refer to their user agreement. They comment that Coinbase has discretion in choosing to support changes in the Bitcoin software.
Bitcoin hard fork with Bitcoin Cash is similar to Stock Split. When there is a stock split, your broker MUST provide you the new stock to you. Hence, Coinbase Bitcoin cash denial is like your stock broker denying to issue your new stock. This is the strategy from Coinbase at the moment.
What will happen to Bitcoin Cash of investors with CoinBase?
If you are keeping your Bitcoin with Coinbase and wonder about the destiny of your Bitcoin cash, you can relax, OK a little. CoinBase has revealed that they have no intention of keeping investors’ Bitcoin Cash for the company neither they plan to access BCC at all. May there be a scenario in the future where Coinbase decides to support Bitcoin Cash, Coinbase will will distribute the balances in live with August 1 Bitcoin fork.