Coinbase CEO: bitcoin is far ahead! Altcoins are distractions!

[cuddaloreappu]

https://twitter.com/brian_armstrong/status/569914763263606785

"Ripple, Stellar, and Altcoins are all a distraction. Bitcoin is way too far ahead. We should be focused on bitcoin and sidechains"


Seems he is a bitcoin maximalist!

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[pedrog]

He just started the flame war!

[God27]

https://twitter.com/brian_armstrong/status/569914763263606785

"Ripple, Stellar, and Altcoins are all a distraction. Bitcoin is way too far ahead. We should be focused on bitcoin and sidechains"


Seems he is a bitcoin maximalist!

When you start mentioning others publicly in a negative way.... you're in trouble. 



MySpace was way too far ahead of Facebook, Twitter, Instagram and etc.  They must be failures with hardly any users today.

[koelen3]

Maybe coinbase should try some Alts

[ticoti]

Hey coinbase ceo,let's say obvious things 

[DonDev]

He is is right though and I agree with him. The average Joe on street or even my friends have a hard time understanding bitcoin and the concept behind it. Now imagine explaining the reason behind crappy altcoins like jackpotcoin or potcoin lol.

[NoahWL1]

I guess that's pretty much true.  Although altcoins are fun and there's definitely money to be made if you know what you're doing, I hardly believe that they will ever compare to Bitcoin if Bitcoin is adopted as a worldwide currency, as it ought to be.

[Joshuar]

With Coinbase's attitude, they're gonna get replaced by another exchange that understands Bitcoin is just as alternative a currency as any other altcoin, as the dominant currencies are FIAT(USD, EURO, etc).

Let's face the reality. Most "good" altcoin devs want to have a place in history, they want to make money, and they want to leave an impact on the world, and they can't do that through sidechains. Not to mention the huge economy based on other cryptocurrencie besides bitcoin, quite similar to stocks. Do you actually believe that they would give up on profitable trading for the sake of Bitcoin development? I think not. Bitcoin has flaws, and some people are out there to improve upon them down to the protocol level(Which is impossible to do with sidechains).

Good Luck Coinbase CEO, with that attitude I'm positive your exchange will not be the dominant one in the future.

[Beliathon]

MySpace was way too far ahead of Facebook, Twitter, Instagram and etc.  They must be failures with hardly any users today.

Totally apples to oranges comparison there. Myspace is neither a network protocol, nor a form of currency.

With Coinbase's attitude, they're gonna get replaced by another exchange that understands Bitcoin is just as alternative a currency as any other altcoin,

Rofl, what a monumental logical failure. First, Coinbase isn't even an exchange (yet). Second, they are the only service with 70 million dollars backing.

Bitcoin has flaws, and some people are out there to improve upon them.

HTTP has flaws too, but for some strange reason no other protocol ever rose to compete with it. Why do you suppose that is?

I'll give you a hint, both HTTP and Bitcoin are protocols which change and evolve over time. You don't need alternate versions of an entity which itself is capable of change.

There's a reason neanderthals are extinct, they were an inferior version of an evolving entity, utterly redundant. Natural selection did its work then, just as unnatural (market) selection will do to altcoins now.

[Joshuar]

MySpace was way too far ahead of Facebook, Twitter, Instagram and etc.  They must be failures with hardly any users today.

Totally apples to oranges comparison there. Myspace is neither a network protocol, nor a form of currency.

With Coinbase's attitude, they're gonna get replaced by another exchange that understands Bitcoin is just as alternative a currency as any other altcoin,

Rofl, what a monumental logical failure. First, Coinbase isn't even an exchange (yet). Second, they are the only service with 70 million dollars backing.

Bitcoin has flaws, and some people are out there to improve upon them.

HTTP has flaws too, but for some strange reason no other protocol ever rose to compete with it. Why do you suppose that is?

I'll give you a hint, both HTTP and Bitcoin are protocols which change and evolve over time. You don't need alternate versions of an entity which itself is capable of change.

There's a reason neanderthals are extinct, they were an inferior version of an evolving entity, utterly redundant. Natural selection did its work then, just as unnatural (market) selection will do to altcoins now.

Is coinbase not a USD-BTC exchange? Do you really think Bitcoin has a future? Exactly why should people use bitcoin Beliathon? You seem like just another overhyping, clueless, bitcoin fanboy.

"There's a reason neanderthals are extinct, they were an inferior version of an evolving entity, utterly redundant. Natural selection did its work then, just as unnatural (market) selection will do to altcoins now." - Quite the opposite reaction will occur.

[gentlemand]

There are plenty of alts with merit, but at some point there has to be consensus about what to get behind, especially with something that can be replicated like BTC.

So far the weight of numbers have settled on bitcoin and a leading company in the space would be pretty dumb to start dabbling in weaker systems.

It's similar to domains. Why did .com become the most prestigious? All the others work just as well. It's only because people en masse decided to award it value.

And I don't think Ripple/ Stellar are bitcoin alternatives. They're a different beast.

[saddambitcoin]

This thread should be moved to the Altcoin Forum.

 

[Beliathon]

Is coinbase not a USD-BTC exchange?

Well, now Coinbase has an exchange, but this is a very recent development.

Do you really think Bitcoin has a future?

Has a future? No, I think Bitcoin is the future [of money].

Exactly why should people use bitcoin Beliathon?

Loads of reasons, chief among them being that unlike fiat scrip, bitcoin is not backed by state violence.

You seem like just another overhyping, clueless, bitcoin fanboy.

Cool story bro. Spoiler alert: No one cares what you think of me, least of all me.

Quite the opposite reaction will occur.

Why? What reasons do you have for believing that altcoins will grow and bitcoin will shrink, despite the overwhelming evidence to the contrary?

Altcoins are dying is because more and more people are finding out how easy it is to create a new coin and try to profit from it. That results in a large supply of altcoins, there are dozens of altcoins coming out daily on bitcointalk.org. Altcoinland is dominated by get rich quick scams, pumps and dumps, lies and deception. As more people get scammed by investing in a scamcoin the liquidity of the altcoin market decreases because traders are left with a sour taste in their wallets. When liquidity decreases so do the prices and marketcaps. Lets look at a comparison of altcoin marketcaps back in 2014 compared to altcoin market caps today.

[Joshuar]

Is coinbase not a USD-BTC exchange?

Well, now Coinbase has an exchange, but this is a very recent development.

Do you really think Bitcoin has a future?

Has a future? No, I think Bitcoin is the future [of money].

Exactly why should people use bitcoin Beliathon?

Loads of reasons, chief among them being that unlike fiat scrip, bitcoin is not backed by state violence.

You seem like just another overhyping, clueless, bitcoin fanboy.

Cool story bro. Spoiler alert: No one cares what you think of me, least of all me.

Quite the opposite reaction will occur.

And why is that?

Look, the average person does not care about decentralization, the blockchain's benefits(permanent record etc), or your conspiracy theory that FIAT money is backed by state violence. Since you're this clueless, I'm not even going to elaborate further.

[Beliathon]

your conspiracy theory that FIAT money is backed by state violence.

Rofl.

Since you're this clueless, I'm not even going to elaborate further.

I accept your forfeiture of the argument. Good day sir.

[Bit_Happy]

Maybe coinbase should try some Alts

If an alt does somehow pass BTC, then you can count on companies like Coinbase competing to serve the "new" territory. 

[Joshuar]

Is coinbase not a USD-BTC exchange?

Well, now Coinbase has an exchange, but this is a very recent development.

Do you really think Bitcoin has a future?

Has a future? No, I think Bitcoin is the future [of money].

Exactly why should people use bitcoin Beliathon?

Loads of reasons, chief among them being that unlike fiat scrip, bitcoin is not backed by state violence.

You seem like just another overhyping, clueless, bitcoin fanboy.

Cool story bro. Spoiler alert: No one cares what you think of me, least of all me.

Quite the opposite reaction will occur.

Why? What reasons do you have for believing that altcoins will grow and bitcoin will shrink, despite the overwhelming evidence to the contrary?

Altcoins are dying is because more and more people are finding out how easy it is to create a new coin and try to profit from it. That results in a large supply of altcoins, there are dozens of altcoins coming out daily on bitcointalk.org. Altcoinland is dominated by get rich quick scams, pumps and dumps, lies and deception. As more people get scammed by investing in a scamcoin the liquidity of the altcoin market decreases because traders are left with a sour taste in their wallets. When liquidity decreases so do the prices and marketcaps. Lets look at a comparison of altcoin marketcaps back in 2014 compared to altcoin market caps today.

I couldn't resist.

Back in 2013, when Bitcoin reached a price of $1200, this gave rise to new interest in Bitcoin and naturally drew in more developers, users, investors, etc. So of course, there would be more altcoins near Bitcoin's peak price(early-middle 2014), than now. So frankly, your logic makes no sense.  Of course to the inexperienced eye such as yours, you're quick to dismiss things evidently after first sight, without fully grasping it's true nature. In Bitcoin's years, I'm sure you were one of those that addressed it as nothing more than play-money, missing out entirely on a new technology, and the same will happen to you again.

[Beliathon]

Of course to the inexperienced eye such as yours

Perhaps you missed the fact that I've been around here much longer than you have?

I couldn't resist either, noob. Now why don't you fuck off back to your altcoin ghetto where you belong? Your shitcoin friends need you to keep pushing their "XCurrency" scam.

[randy8777]

Maybe coinbase should try some Alts

If an alt does somehow pass BTC, then you can count on companies like Coinbase competing to serve the "new" territory. 

but we know this isn't going to happen in the near future.
bitcoin is and will stay nr 1 for plenty of years.

[bryant.coleman]

Maybe coinbase should try some Alts

Why should they?

He is perfectly right. Altcoins are parasites leeching off Bitcoin's success. They don't have any merits or advantages over Bitcoin.