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

[Beliathon]

Yes, I already agreed to this. Bitcoin only solves the BGP if you assume the network isn't compromised. Strictly speaking, Bitcoin cannot solve the  Byzantine Generals' Problem, but neither can anything else with 100% confidence. This is why it is a "dilemma" or "problem"  and why researchers study probabilistic solutions to solving the Byzantine fault tolerance problems.

Strictly speaking, on paper the dilemma may remain forever "unsolvable". However, each and every day of bitcoin's existence, the problem of trust is solved in practice.

And it's getting bigger and more valuable.

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[Btcvilla]

I use altcoins all the time (mainly just Dogecoin now). But its annoying when people who love these altcoins say it will take over Bitcoin, That will never happen..

[koshgel]

Altcoins are basically useless except for demonstrating/testing out new ideas or perhaps as a fork if Bitcoin got too corrupted.

They aren't useless but they don't present anything new that would overshadow Bitcoin.

[Herbert2020]

Altcoins are basically useless except for demonstrating/testing out new ideas or perhaps as a fork if Bitcoin got too corrupted.

at this moment, the only use any altcoin out there has is just to put money in a few people's pockets. if you see the price change of any altcoin, you can see lots and lots of pumps and dumps which a few people are getting rich by.

[BayAreaCoins]

Altcoins are basically useless except for demonstrating/testing out new ideas or perhaps as a fork if Bitcoin got too corrupted.

at this moment, the only use any altcoin out there has is just to put money in a few people's pockets. if you see the price change of any altcoin, you can see lots and lots of pumps and dumps which a few people are getting rich by.

Bitcoin is plenty corrupt and plenty of Pump n dumps... last one was cause of Coinbase actually and their Rick Rolling news.  I wonder if Coinbase tries to grab the lime light again on this little rise.

[picolo]

Altcoins are basically useless except for demonstrating/testing out new ideas or perhaps as a fork if Bitcoin got too corrupted.

at this moment, the only use any altcoin out there has is just to put money in a few people's pockets. if you see the price change of any altcoin, you can see lots and lots of pumps and dumps which a few people are getting rich by.

Most the use of most altcoins is indeed to make money to a small number of people.

[Beliathon]

Bitcoin is plenty corrupt and plenty of Pump n dumps...

What's the matter capitalist, the market leaving you butthurt? You don't like the game because other people have more pieces than you do?
Awwww, poor little guy, he still thinks he can win the game! I'm afraid there's no room for you at the top of the pyramid, my child. You will have to remain poor forever.

Harsh reality: If you're not already among the global wealthiest ten percent, odds are high you'll be getting poorer in the coming decades. Automation is a bitch of a thing.
This is the beginning of the end of the nation state and capitalism as we know it. Divesting everything from fiat is your only hope to survive the coming transition.

[ChuckBuck]

Very important video interview!  Brian Armstrong talks with Altcoin developers on how to integrate into Coinbase.

Must watch:

https://www.youtube.com/watch?v=cIasr2AiyZ0

[Btcvilla]

Very important video interview!  Brian Armstrong talks with Altcoin developers on how to integrate into Coinbase.

Must watch:

https://www.youtube.com/watch?v=cIasr2AiyZ0

My sides, that is just amazing, the best version of this is the Minecraft one.

[TheMage]

Very important video interview!  Brian Armstrong talks with Altcoin developers on how to integrate into Coinbase.

Must watch:

https://www.youtube.com/watch?v=cIasr2AiyZ0

My sides, that is just amazing, the best version of this is the Minecraft one.

The vid was pretty damn funny (saw it last night btw unrelated to this thread).


Just an FYI, Brian never answered publicly as far as I know. But I have heard he would rather not take me up on my offer .

[pitham1]

Altcoins are basically useless except for demonstrating/testing out new ideas or perhaps as a fork if Bitcoin got too corrupted.

at this moment, the only use any altcoin out there has is just to put money in a few people's pockets. if you see the price change of any altcoin, you can see lots and lots of pumps and dumps which a few people are getting rich by.

Most the use of most altcoins is indeed to make money to a small number of people.

If an altcoin truly had an innovative feature, I am sure it will get adopted in Bitcoin as well.

[Btcvilla]

Altcoins are basically useless except for demonstrating/testing out new ideas or perhaps as a fork if Bitcoin got too corrupted.

at this moment, the only use any altcoin out there has is just to put money in a few people's pockets. if you see the price change of any altcoin, you can see lots and lots of pumps and dumps which a few people are getting rich by.

Most the use of most altcoins is indeed to make money to a small number of people.

If an altcoin truly had an innovative feature, I am sure it will get adopted in Bitcoin as well.

Burstcoin and Litecoin...

[TheMage]

Altcoins are basically useless except for demonstrating/testing out new ideas or perhaps as a fork if Bitcoin got too corrupted.

at this moment, the only use any altcoin out there has is just to put money in a few people's pockets. if you see the price change of any altcoin, you can see lots and lots of pumps and dumps which a few people are getting rich by.

Most the use of most altcoins is indeed to make money to a small number of people.

If an altcoin truly had an innovative feature, I am sure it will get adopted in Bitcoin as well.

Burstcoin and Litecoin...

Not trying to sound ignorant or an ass, but what is Burstcoin?

[gentlemand]

Altcoins are basically useless except for demonstrating/testing out new ideas or perhaps as a fork if Bitcoin got too corrupted.

at this moment, the only use any altcoin out there has is just to put money in a few people's pockets. if you see the price change of any altcoin, you can see lots and lots of pumps and dumps which a few people are getting rich by.

Most the use of most altcoins is indeed to make money to a small number of people.

If an altcoin truly had an innovative feature, I am sure it will get adopted in Bitcoin as well.

A layer on top might address something. The core development looks to be extremely steady from the outside. I guess it becomes more than an intriguing challenge if you know thousands are watching your every move.

[Possum577]

I couldn't agree more.

Alt coins are hobbies, bitcoin is for real.

[drotto]

People can use what ever form they like, but I would agree that bitcoin is the future right now. All other are just copies to the most extent. There may be a new currency that comes out that is superior to bitcoin that will take the lead, but for now my btc is on Bitcoin.

[MicroGuy]

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.

What if this was the attitude when people first started using the internet and friends were learning about the first search engine.

Bitcoin needs the competition that altcoins provide to keep it striving to improve. Competition is healthy and highly beneficial to the consumer.

[duckydonald]

I think bitcoin is weak thanks to greed of the alt coins

[Q7]

Well, on a second thoughts maybe altcoins have it use after all. Imagine how boring it were to be if we can only trade between btc and usd. Trading does help to make the crypto scene become more livelier, more news event to write about and that's about it. In general I still think it brings more harm than good.

[Snail2]

Actually technologically NXT is far ahead of bitcoin...