Coinbase now supports Etherium; Is this a threat to Bitcoin dominance

[MingLee]

i can not rxcatly say that this is the first altcoin which got a wallet after bitcoin but as we know coinbase is a rather big company which is accepting bitcoin from maybe 2010 if it have surely seen something rising in people which cause him to make this happen. why don't doge or ltc had got accepted in coinbase why only etherium was the first?after bitcoin.

I suspect a few years ago it may have been LTC, but these days if you were expanding what would you pick? You'd pick Ether based on pure market forces. They also seem to get on well with the team whereas LTC is sort of dead (which is ironic because Lee works there).

A few years ago it was definitely Litecoin that was the "runner-up" to Bitcoin and posed the most threat to Bitcoin, but even that was minimal and I don't think anyone cared about that at all. Litecoin kind of died when ASICs were developed for it, and I believe Litecoin was marketed as "ASIC Proof", and having the first ASICs be made for it that worked killed it.

Ethereum is actually a project that isn't a bunch of epeen measuring, but it seems like they're making it too complex for the wayman.

[pbleak]

i can not rxcatly say that this is the first altcoin which got a wallet after bitcoin but as we know coinbase is a rather big company which is accepting bitcoin from maybe 2010 if it have surely seen something rising in people which cause him to make this happen. why don't doge or ltc had got accepted in coinbase why only etherium was the first?after bitcoin.

I suspect a few years ago it may have been LTC, but these days if you were expanding what would you pick? You'd pick Ether based on pure market forces. They also seem to get on well with the team whereas LTC is sort of dead (which is ironic because Lee works there).

A few years ago it was definitely Litecoin that was the "runner-up" to Bitcoin and posed the most threat to Bitcoin, but even that was minimal and I don't think anyone cared about that at all. Litecoin kind of died when ASICs were developed for it, and I believe Litecoin was marketed as "ASIC Proof", and having the first ASICs be made for it that worked killed it.

Ethereum is actually a project that isn't a bunch of epeen measuring, but it seems like they're making it too complex for the wayman.

A few things halted Litecoin:
(1) It's not really developed and the one core innovation of speed never grabbed people as much as was expected.
(2) Because it stalled it meant the second a truly innovative coin came along it would suffer.
(3) There is not a lot you can do with it that you can't with Bitcoin.

[potatopower]

Eth has assumed ltc place and is currently the silver crypto,

I find the use of the word 'currently' rather telling. Silver will always be silver. Who knows what the next jumble of code will be that gives pumpers a boner?

Probably the next 6 months.

Besides the silver to bitcoin is litecoin.

Those days are clearly gone. Ethereum has been around long enough as number 2 to have officially displaced Litecoin (which is great, but is basically just for holders).

Ethereum is in some trouble at the moment. If it survives the crisis, it will be much stronger. Many people will use it.

thats true though i think eth will not survive, etc is going to start going up and make more people buy

[rickadone]

i can not rxcatly say that this is the first altcoin which got a wallet after bitcoin but as we know coinbase is a rather big company which is accepting bitcoin from maybe 2010 if it have surely seen something rising in people which cause him to make this happen. why don't doge or ltc had got accepted in coinbase why only etherium was the first?after bitcoin.

I suspect a few years ago it may have been LTC, but these days if you were expanding what would you pick? You'd pick Ether based on pure market forces. They also seem to get on well with the team whereas LTC is sort of dead (which is ironic because Lee works there).

A few years ago it was definitely Litecoin that was the "runner-up" to Bitcoin and posed the most threat to Bitcoin, but even that was minimal and I don't think anyone cared about that at all. Litecoin kind of died when ASICs were developed for it, and I believe Litecoin was marketed as "ASIC Proof", and having the first ASICs be made for it that worked killed it.

Ethereum is actually a project that isn't a bunch of epeen measuring, but it seems like they're making it too complex for the wayman.

And just look at the fake volumes of eth around. I am really not trusting on eth so much because it's value can easily dramatically fluctuate. Some people are arguing eth has some strong fundamentals, but I'm not ready to believe those things to till they are get confirmed over time.

[extrabyte]

This be good features for coinbase. i just looking there like for wallet, nothing special i guess. And for ETH-coin it's still high risk cause i see ETH-coin price unstable.

Most of the cryptocurrencies are unstable if we check their price history on charts, also I think that it is much better for ethereuk rather than for coinbase, from this we can conclude that coinbase is going to a multicoin exchange.

[Herbert2020]

This be good features for coinbase. i just looking there like for wallet, nothing special i guess. And for ETH-coin it's still high risk cause i see ETH-coin price unstable.

Most of the cryptocurrencies are unstable if we check their price history on charts, also I think that it is much better for ethereuk rather than for coinbase, from this we can conclude that coinbase is going to a multicoin exchange.

honestly i find this a stupid or shady act from coinbase to add ethereum to their exchange that had only bitcoin to this date. when there are other altcoins that have been around for years and have reached some kind of stability, as a business you would first go to them not an unstable shady altcoin that has been only pump and dumped, has a big flaw that led to hack and also has two chains.

[Capradina]

This be good features for coinbase. i just looking there like for wallet, nothing special i guess. And for ETH-coin it's still high risk cause i see ETH-coin price unstable.

Most of the cryptocurrencies are unstable if we check their price history on charts, also I think that it is much better for ethereuk rather than for coinbase, from this we can conclude that coinbase is going to a multicoin exchange.

honestly i find this a stupid or shady act from coinbase to add ethereum to their exchange that had only bitcoin to this date. when there are other altcoins that have been around for years and have reached some kind of stability, as a business you would first go to them not an unstable shady altcoin that has been only pump and dumped, has a big flaw that led to hack and also has two chains.

I think they do it because they get a guarantee from the ehtereum so that coinbase can do it. I think the ethereum has no substantial risk of something from the other altcoin and is almost the same as the bitcoin. We see only a static ethereum travel

[Xester]

I think ETH holders at the time of the fork on GDAX/Coinbase should demand their Ethereum Classic. It has value, there is clearly demand for it, and it is rightfully the holders' and not Coinbase's property. I saw a lawyer on Twitter opine that if it isn't otherwise specified in the T&Cs, the exchange has an obligation to return it.

There's I like to ask you, you mention ethereum classic and ethereum. Is ethereum the new one is the one coinbase is using. And the classic is the old ethereum.

Pls correct me if I get it wrong.

What is really the difference between the two. I just don't get it why there are two ethereum. And my last question is which one is better.

[European Central Bank]

There's I like to ask you, you mention ethereum classic and ethereum. Is ethereum the new one is the one coinbase is using. And the classic is the old ethereum.

Pls correct me if I get it wrong.

What is really the difference between the two. I just don't get it why there are two ethereum. And my last question is which one is better.

Classic is the original chain, that's correct. they split into two chains because eth rolled back their blockchain to deny an attacker who misappropriated millions of dollars worth of eth from a third party contract, the dao. turns out quite a few eth developers had money tied up in it too.

others disagreed with bailing out eth because they felt it compromised the principles of the project. they have in huge letters on their website lines about their contracts being unbreakable and impossible to tamper with, but that's exactly what they did.

classic believes it broke one of the number one principles of a project like that so have continued with the original chain. that also means in theory the attacker can get his spoils from that version of ethereum.

which is better? who knows? classic has a lower hashrate so it's weaker in theory. eth has the top line developers too. it's gonna be very interesting to see what happens. I don't think classic is the joke a lot of people started off thinking it was.

[Leonard2016]

generally, ethereum has no effect on bitcoin and it never had any effect at all. the only effect is on the bitcoin holders who can earn more bitcoin from trading ethereum.

so coinbase adding it can only have some hype effect on ethereum and help it get pumped more. and that is only if it doesn't die beceuse of the mistakes of its developer.

[sbtctalk]

As long as BTC remains as ref currency for other cryptos, BTC should remain stable

[Rutdam]

The Ethereum transaction confirmation is much faster than the bitcoin. If the bitcoin does not improve, it might be replaced by Ethereum.

[gentlemand]

The Ethereum transaction confirmation is much faster than the bitcoin. If the bitcoin does not improve, it might be replaced by Ethereum.

So confirmation time is more important than the stability of a project? I'm not willing to trade a slightly longer wait for something faster, sexier and prone to go up in smoke at any second.

[topiOleg]

The Ethereum transaction confirmation is much faster than the bitcoin. If the bitcoin does not improve, it might be replaced by Ethereum.

There are a lot of altcoins with under 1 minute transactions, but how safe it is to hold their coins longer? And for the same security, how many more confirmations you need to be equivalent of Bitcoin 1-2 confirmations, security-wise. Its nice to have fast confirmations, but its worth very little if you need to hold altcoin in the process. I heard people use altcoins for fast transfer between exchanges - but why not use some instant service between the exchanges - it might be faster and cheaper.

[Benchman]

They just have troubles with ETH & ETC, but hey... someone is hungry of money.

[Hugroll]

i think of ethereum as like free advertising for cryptocurrencies. If it brings people to try out cryptocurrencies like eth and etc,maybe they will also give bitcoin a shot. I dont see it as a threat.

[shinratensei_]

They just have troubles with ETH & ETC, but hey... someone is hungry of money.

Hahaha.... good point, there are someone is hungry with money and caused by that, wanna accepted another market of altcoin because they seeing in another market or trading exchange if the other altcoins have a good calculation.

[Karpeles]

Why should it be a threat to Bitcoin?

They still accept Bitcoin as usual and still is easier to trade Bitcoin than Ethereum

[marky89]

Why should it be a threat to Bitcoin?

They still accept Bitcoin as usual and still is easier to trade Bitcoin than Ethereum

Well, it's pretty clear that Coinbase has been getting desperate for a while. They view their company's failure to grow as a reason to publicly attack the Core devs and push Bitcoin Classic.

And when that failed, they decided to sell Ethereum as the future. Now ETH looks like a total joke!

[Cuidler]

And when that failed, they decided to sell Ethereum as the future. Now ETH looks like a total joke!

Its funny I read long ago (month or more) Gavin Andresen writing about ethereum smart contracts as being problematic to be evaluted by normal people as being safe. It didnt took long for DAO to prove Gavin knew what he was talking about. Not just normal people, but even experts did not knew how can be DAO exploited (or they keept the secret to profit from it later). So ethereum is not joke because of the hard fork, but the reason why DAO exploit happened - ethereum itselves.

But for someone interesting in speculation only it doesnt matter ethereum is useless, or can be hardly to be used for anything usefull, as long as he trade it at the exchange for a possibility of a profit. Coinbase can get fees from trades as well, but adding ethereum as first and highly unproved altcoin turned out to be big mistake (or Brian is ethereum 'investor' as well, lol)