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RE: The Upcoming Bitcoin Cash (Bcash) Hardfork - I Am Very Skeptical
It is upcoming, so how can any exchange have an upcoming currency listed yet?
It is upcoming, so how can any exchange have an upcoming currency listed yet?
Many exchanges list coins prior to release and allow trading but not withdrawal (as you rightly said, they don’t really exist). I ask as the article doesn’t seem to suggest that 2 coins will exist after the fork.
How can it be done?
How can a nonexistent thing be traded?
For a swap to happen there should be a buyer and a seller.
If it does not exist, how can it be sold?
What happens in such a case if the ICO/HF is postponed or cancelled after people already bought it?
I don’t the precise mechanics but it has happened regularly. It also happened before bitcoin cash forked from btc. Some exchanges were offering the ability to trade it (or more accurately, a representation of it similar to a future). Possibly the exchange knew it had X btc on deposit, so would receive X bitcoin cash? I don’t know exactly how they manage risk.
Futures or options could have been sold, but remember that this is an upgrade, not an overly contentious fork.
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