Coinbase: Discussion on Buying Litecoin

[Sr.Urbanist]

I have seen discussion here and there about Coinbase offering a new Altcoin. One option has been Monero and another is Litecoin.  I'm pretty new to LTC (e.g., I did not buy at $50, but $5).  I heard Coinbase was considering this and came across this thread:

https://community.coinbase.com/t/litecoin-in-coinbase/13388/

I know there is a backstory with LTC, but do not know it.  What are your thoughts on Litecoin and Coinbase accepting it?

Thanks for your contributions.  

[1714189579]

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[1714189579]

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[1714189579]

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[1714189579]

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[Instamined]

can't vote?

[Sr.Urbanist]

can't vote?

You should be able to ...

EDIT: It may be that you are 'newbie'?

[Instamined]

can't vote?

You should be able to ...

Is it because I'm a newer member perhaps? Definitely don't see the option to vote.

[Sr.Urbanist]

can't vote?

You should be able to ...

Is it because I'm a newer member perhaps? Definitely don't see the option to vote.

There is a poll at the top for me.  I wonder if anybody else can see the poll or if I messed it up ...

[Leonard2016]

first of all coinbase aka Gdax is an exchange service and they will add anything that is profitable for them meaning if there is enough volume in trading these coins they will add them to take the profit from fees, etc.

secondly LTC is already active on Gdax. you can see it on their status page, i don't know if the market is active too but they have certainly added LTC and are ready to go.

p.s. it is the new rules of the forum that newbie accounts can not vote. so that is why he can not see the options. i voted

[Sr.Urbanist]

first of all coinbase aka Gdax is an exchange service and they will add anything that is profitable for them meaning if there is enough volume in trading these coins they will add them to take the profit from fees, etc.

secondly LTC is already active on Gdax. you can see it on their status page, i don't know if the market is active too but they have certainly added LTC and are ready to go.

p.s. it is the new rules of the forum that newbie accounts can not vote. so that is why he can not see the options. i voted

I did not know Coinbase is GDAX.  I saw LTC was trading on https://cryptowat.ch/, but it appears as though you can't go directly from your bank account to LTC.  I'll need to take a look at GDAX and thanks for your info :thumbsup:

[Leonard2016]

first of all coinbase aka Gdax is an exchange service and they will add anything that is profitable for them meaning if there is enough volume in trading these coins they will add them to take the profit from fees, etc.

secondly LTC is already active on Gdax. you can see it on their status page, i don't know if the market is active too but they have certainly added LTC and are ready to go.

p.s. it is the new rules of the forum that newbie accounts can not vote. so that is why he can not see the options. i voted

I did not know Coinbase is GDAX.  I saw LTC was trading on https://cryptowat.ch/, but it appears as though you can't go directly from your bank account to LTC.  I'll need to take a look at GDAX and thanks for your info :thumbsup:

you are welcome.
they too belong to the same company. back in May 2016 they announced GDAX (Global Digital Asset Exchange) as their new service to act as a profossional place for traders to do exchanges.
and coinbase to remain an easy place for customers to easily buy, sell and store funds as a wallet.

https://blog.coinbase.com/coinbase-exchange-is-now-gdax-adds-ether-trading-a82cc628aa79

[Sr.Urbanist]

.... back in May 2016 they announced GDAX (Global Digital Asset Exchange) as their new service to act as a professional place for traders to do exchanges.
and coinbase to remain an easy place for customers to easily buy, sell and store funds as a wallet.

https://blog.coinbase.com/coinbase-exchange-is-now-gdax-adds-ether-trading-a82cc628aa79

Thanks for explaining.  I guess, I the question I meant to ask is if Coinbase should add Litecoin as a wallet option for non-professional class users?   When it was staying stable, I thought it was great because of how fast the payments process.  It seems like Litecoin would be better for merchants, such as restaurants and retail (brick and morter), compared with BTC because of the underlying code difference.

Is script less secure than SHA-256?

[hermanhs09]

I have seen discussion here and there about Coinbase offering a new Altcoin. One option has been Monero and another is Litecoin.  I'm pretty new to LTC (e.g., I did not buy at $50, but $5).  I heard Coinbase was considering this and came across this thread:

https://community.coinbase.com/t/litecoin-in-coinbase/13388/

I know there is a backstory with LTC, but do not know it.  What are your thoughts on Litecoin and Coinbase accepting it?

Thanks for your contributions.  

There is obviously a lot of hype right now that is going on with the Litecoin price.

It basically went up a lot over the past few weeks, and now Coinbase is saying it's going to accept it, which is also huge news.

Personally I have always thought that litecoin was dead.

But seems like it's not the case anymore. I predict at least a 20% price jump as soon as Coinbase starts to implement the Litecoin features.

[asriloni]

.... back in May 2016 they announced GDAX (Global Digital Asset Exchange) as their new service to act as a professional place for traders to do exchanges.
and coinbase to remain an easy place for customers to easily buy, sell and store funds as a wallet.

https://blog.coinbase.com/coinbase-exchange-is-now-gdax-adds-ether-trading-a82cc628aa79

Thanks for explaining.  I guess, I the question I meant to ask is if Coinbase should add Litecoin as a wallet option for non-professional class users?   When it was staying stable, I thought it was great because of how fast the payments process.  It seems like Litecoin would be better for merchants, such as restaurants and retail (brick and morter), compared with BTC because of the underlying code difference.

Is script less secure than SHA-256?

I should remain you if over 85% of the basic code among bitcoin and litecoin is identic. I can say if litecoin is the fork from the bitcoin itself. I mean if the bitcoin is a gold and litecoin is a silver.

Average cryptos are using SHA-256. But what do you mean less secure than SHA-256?

[Instamined]

Well since I can't vote, I'll just write my thoughts.

This poll has too few of votes to matter imo. I don't think many primary coinbase users lurk on the forums and would find a poll like this.


I don't see any reason you would particularly buy Litecoin simply because it was offered on coinbase unless you were crypto-illiterate.


Coinbase is nothing, the only claim it has to move the markets is there are some (possibly many) people who don't otherwise involve themselves with cryptocurrency who use it to buy coins. Those sort of people are said to be generally unaware of litecoin creating a new buyer.

[Instamined]

I already purchase Litecoin through Coinbase's products.
Coinbase.com's Bitcoin buy tool -> deposit BTC on GDAX -> BTC/LTC -> Withdraw!

looool so right, exactly what I'm saying. Coinbase isn't some big thing. A small group of people who hardly know about crypto might buy it because it is available directly as usd to litecoin but it is so insignificant that the hype surrounding it is hilarious.


The ONE time I tried to use coinbase was back in 2014 and when I tried to purchase BitCoin after a steep, temporary dip in price. They took forever to confirm my transaction then denied it without a reason. The reason was because I got a good price and they are a dishonorable business.

I dont remember the specifics, I think theres a wait time between the attempt to purchase and the transaction clearing? Idk. Either way, that's what happened. Writing support by email they gave no explanation and told me I could buy at the price that was probably $150 or so more expensive.