After Coinbase dropped the ball on the Ethereum Hard fork Brian Armstrong (Coinbase CEO) decided it was his responsibility to credit holders of ether their right to their ETC (Ether Classic). I find this to be an incredible gesture by Brian and the Coinbase team!! Now holders of ether at the time of the Hard Fork will be credited ether. Here is the ETC FAQ on the Coinbase support page below.
Welcome to the Ethereum Classic (ETC) Support Page. Below please find answers to a few frequently asked questions about Coinbase’s plan to credit customers with ETC.
What is ETC?
On July 20th, 2016 Ethereum executed a hard fork, or a change in the way the Ethereum protocol works. The majority of the mining hashing power supported the hard fork which is currently known as ETH or Ethereum. A smaller set of miners supported a shorter chain. This shorter chain became known as ETC. Coinbase is currently configured to support ETH, not ETC.
Am I entitled to an ETC credit?
Yes, if you had an ETH balance on GDAX immediately prior to the hard fork or if you sent ETC to Coinbase or GDAX after the hard fork. We've decided to make this full amount of ETC available to customers as a credit that can be sent off-platform.
If Coinbase does not support ETC wallets or trading, why make credits available at all?
As the price of ETC increased, some customers requested that Coinbase make ETC available for withdrawal. We want to be the most trusted place to store digital assets, and this felt like the right thing to do for our customers.
When will my ETC credit be available?
We are working as quickly as possible to make a secure procedure available to send ETC credits off-platform. We expect to have this available in the near future and will provide regular updates to the community via Twitter or the Coinbase blog.
How can I get my ETC credit?
We will provide a special-purpose Coinbase webpage to send your ETC credit. All ETC credit transactions will be sent to a destination ETC address of your choosing.
Is Coinbase planning to offer full support for ETC going forward?
Not right now. We are only making available the ability to send your ETC credit off platform. We will continue to evaluate various digital currencies to decide which to support.
What should I expect if another digital currency supported by Coinbase experiences a future hard fork?
The industry is evolving rapidly and we expect that best practices will develop over time on how to handle hard forks. Right now we are handling each one on a case by case basis.
I cant wait to get my ETC. Good job Coinbase and Brian Armstrong. This also might have explained the ETC pump of late if coinbase was buying ETC to credit its user base.