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

[ChuckBuck]

If it wasnt for altcoins, then BTC would not be alive since over 80% of all transaction in BTC is from BTC to Altcoins or Altcoins to BTC.

Proof or link?  We'd like to believe you and all, but need some facts before you put some numbers out there.

[evansearle42]

If it wasnt for altcoins, then BTC would not be alive since over 80% of all transaction in BTC is from BTC to Altcoins or Altcoins to BTC.

This is not true lol. The altcoins are taking value from bitcoin because people are selling bitcoin in order to speculate on useless altcoins. Many people that trade altcoins simply keep their bitcoin on an exchange

[mayax]

Ripple and Stellar do suck.  

Just Coinbase alone is better than both of them combined.  

That isn't to say that Bitcoin will always be the best, but yeah, Ripple and Stellar get way to much attention.  

How is Ripple and Stellar connected to coinbase , AFAIK , Ripple and Stellar are payment gateways while coinbase is more like an Exchange and wallet combined , though it works as a bitcoin payment gateway for business's but i don't really believe that

I have USD and I need Euro's.  I go from US bank account -> coinbase -> buy bitcoin -> transfer them to my European Coinbase account ->cash out.  

In Ripple/Stellar I go from my US bank account -> Snapswap US -> buy my Ripple Snapswap USD -> ask the Ripple network and pray there is a good market maker that won't rip me off that will trade SnapSwap USD for SnapSwap Euro -> Send those snapswap Euros to SnapSwap Euro and cash out.  Oh yeah, and along the way I got to grant trust to SnapSwap and hope they don't screw me over.

Coinbase alone does a better job for getting USD to Euro than the whole Ripple network.  And there are lots of other options other than just Coinbase.  

Ripple has the same shareholders as Coinbase, BTC China, Bitstamp

[bitpop]

Forget Litecoin, why is Coinbase in a secret location? The photos are staged. Where does Charles really work?

[Beliathon]

Forget Litecoin, why is Coinbase in a secret location? The photos are staged. Where does Charles really work?

Is this in reference to http://blog.coinbase.com/post/82766793207/weve-moved-to-a-new-office ?

I'm confused, care to enlighten?

http://www.reddit.com/r/Bitcoin/comments/2x165r/coinbase_just_locked_my_account_and_demands_i/
http://www.reddit.com/r/Bitcoin/comments/2v02vm/coinbase_has_stopped_blocked_me_too/

You can keep your coinbase.

We'll also keep every satoshi of the wealth bitcoin siphons from your snakeoil shitcoin of preference, XMR over the next eighteen months.

This is the natural way of the market.

[Beymond]

This thread certainly disintegrated into the same dribble that always happens, and that is both sides yelling at each other with each side hoping they are the louder one ergo the correct one.


For anyone interested, here you go http://coinfire.io/2015/02/24/litecoin-association-director-challenges-coinbase-ceo-to-public-debate/



Would love to have the same discussion with anyone here if you would like too (without the yelling of course) .

Well! no ones shouting here , they are just giving their views quite violently
I would like to fill you requirement on non-loud ?
So what side are you on ? Altcoins are distractions or not ?

[bitpop]

Forget Litecoin, why is Coinbase in a secret location? The photos are staged. Where does Charles really work?

Is this in reference to http://blog.coinbase.com/post/82766793207/weve-moved-to-a-new-office ?

I'm confused, care to enlighten?

http://www.reddit.com/r/Bitcoin/comments/2x165r/coinbase_just_locked_my_account_and_demands_i/
http://www.reddit.com/r/Bitcoin/comments/2v02vm/coinbase_has_stopped_blocked_me_too/

You can keep your coinbase.

We'll also keep every satoshi of the wealth bitcoin siphons from your snakeoil shitcoin of preference, XMR over the next eighteen months.

This is the natural way of the market.

Yes that was a photo shoot, those offices don't really exist.

https://www.reddit.com/r/Bitcoin/comments/2tw4l0/coinbase_doesnt_even_really_have_a_sf_office_rick/

[solid12345]

Funny how everyone keeps calling alt coins useless, scams or shitcoins yet sidechains wants to steal all the ideas and innovation that has evolved from the alt market.  

Sidechains is nothing more than a ploy by BTC whales to save their investment, which is a ridiculous fear anyway because there is room for multiple cryptocurrencies, it's like saying there shouldn't be a Euro because the world has the US dollar.

[BayAreaCoins]

Forget Litecoin, why is Coinbase in a secret location? The photos are staged. Where does Charles really work?

Is this in reference to http://blog.coinbase.com/post/82766793207/weve-moved-to-a-new-office ?

I'm confused, care to enlighten?

http://www.reddit.com/r/Bitcoin/comments/2x165r/coinbase_just_locked_my_account_and_demands_i/
http://www.reddit.com/r/Bitcoin/comments/2v02vm/coinbase_has_stopped_blocked_me_too/

You can keep your coinbase.

We'll also keep every satoshi of the wealth bitcoin siphons from your snakeoil shitcoin of preference, XMR over the next eighteen months.

This is the natural way of the market.

Yes that was a photo shoot, those offices don't really exist.

https://www.reddit.com/r/Bitcoin/comments/2tw4l0/coinbase_doesnt_even_really_have_a_sf_office_rick/

From a Twitter of the CEO's it has been narrowed down that Coinbase might have their office in 444 Market Street (also known as 1 Front Street.)

I think they are full of shit.

Here is Charlies response to their office thing.  https://bitcointalk.org/index.php?topic=938514.msg10285298#msg10285298

Sounds 100% full of shit just like most everything else Charlie says when he is being full of shit.

Coinbase is nothing but Scammers, Leeches and wana be Banksters.  They want to hid in a secret office for a reason.

[solid12345]

Sounds 100% full of shit just like most everything else Charlie says when he is being full of shit.

Coinbase is nothing but Scammers, Leeches and wana be Banksters.  They want to hid in a secret office for a reason.

The fact Lee has worked at Coinbase for over a year now and hasn't convinced his superiors to accept Litecoin is telling. I think LTC was created to be a Chinese pump and dump by the Lee brothers, I never believed it when Lee said he only had "a couple" Litecoins.

[ajareselde]

Sounds 100% full of shit just like most everything else Charlie says when he is being full of shit.

Coinbase is nothing but Scammers, Leeches and wana be Banksters.  They want to hid in a secret office for a reason.

The fact Lee has worked at Coinbase for over a year now and hasn't convinced his superiors to accept Litecoin is telling. I think LTC was created to be a Chinese pump and dump by the Lee brothers, I never believed it when Lee said he only had "a couple" Litecoins.

Litecoin is worthess piece of bits and bytes, and the only reason for any value at all is because its related to bitcoin (as in, it is an alt)
People want to invest in bitcoin, they research, and tiny number that reads from bitcoin research finds out about litecoin, and decides to invest some cents in it, and since amount of bitcoin investments is
huge, that tiny bit of people actualy give litecoin value, until they realise that its useless.
This is how much people are actually interested in litecoin:



Any other altcoin is the same, more or less, and if you trully believe that some fancy extra options make it worth something, ull get burned the minute the organised pump and dump finishes.

cheers

[Btcvilla]

Altcoins do have advantages... One reason its hard to buy stuff (phyiscal buying it, not online) with Bitcoin is the confirm time, I would not wait an hour for my Bitcoin transaction to confirm so I can buy a coffee. I currently use Dogecoin because of its fast transaction times and for its great community. I used Litecoin too.

[solid12345]

Any other altcoin is the same, more or less, and if you trully believe that some fancy extra options make it worth something, ull get burned the minute the organised pump and dump finishes.

cheers

I disagree, there are great alt coins out there advancing blockchain tech everyday, one I am following with interest is Sapience which is building a decentralized database and AI scripting platform,  however I think Litecoin was just garbage, how does changing the algo and increasing the transaction speed make it worth $40 a coin at its height?

[mayax]

without China, BTC would be down

[FUR11]

The first mover advantage is far bigger than many people may even think. It's the single most important advantage Bitcoin has over any altcoin there is. And this advantage is so freakin' huge that there has to be yet an altcoin to bridge this gap. I don't think it will ever happen!

[TheMage]

This thread certainly disintegrated into the same dribble that always happens, and that is both sides yelling at each other with each side hoping they are the louder one ergo the correct one.


For anyone interested, here you go http://coinfire.io/2015/02/24/litecoin-association-director-challenges-coinbase-ceo-to-public-debate/



Would love to have the same discussion with anyone here if you would like too (without the yelling of course) .

Well! no ones shouting here , they are just giving their views quite violently
I would like to fill you requirement on non-loud ?
So what side are you on ? Altcoins are distractions or not ?

I'm Andrew, what do you think 

[ajareselde]

Any other altcoin is the same, more or less, and if you trully believe that some fancy extra options make it worth something, ull get burned the minute the organised pump and dump finishes.

cheers

I disagree, there are great alt coins out there advancing blockchain tech everyday, one I am following with interest is Sapience which is building a decentralized database and AI scripting platform,  however I think Litecoin was just garbage, how does changing the algo and increasing the transaction speed make it worth $40 a coin at its height?

who is to say that bitcoin will remain only as an value exchange? there is no limit to option bitcoin can take in its development if the market shows enough interes, and the allready built up infrastructure
would provide an instant kill to the opposing alt? the only thing bitcoin wont change for sure is the 21 mil coin max limit, everything else is there to be improoved, atleast i see it that way.
but i am sure that any service built on blockchain tech with some kind of virtual currency in it will be definetly left behind once the dust settles.

cheers

[tss]

Altcoins do have advantages... One reason its hard to buy stuff (phyiscal buying it, not online) with Bitcoin is the confirm time, I would not wait an hour for my Bitcoin transaction to confirm so I can buy a coffee. I currently use Dogecoin because of its fast transaction times and for its great community. I used Litecoin too.

you obviously dont actually have or use btc. 

you dont need to wait an hour to buy your coffee.  when i send my coin from wallet to wallet it takes seconds to show up as an incoming transaction.  you dont need to wait 6 confirmations for $2.50.

if i send a $1m across the globe it will be there instantly and confirmed within an hour.  no one can beat that,

[toknormal]

you dont need to wait an hour to buy your coffee.  when i send my coin from wallet to wallet it takes seconds to show up as an incoming transaction.  you dont need to wait 6 confirmations for $2.50.

if i send a $1m across the globe it will be there instantly and confirmed within an hour.  no one can beat that,

I think the point here that everyone's missing is this:

What happened 20 years ago when eMail started arriving on the scene en masse ? Did it kill the post office services ?

No.

What happened is that a whole new layer of communications fired up that wasn't there before. The post office continued to exists and flourish, it just didn't get any cut of the new "cake".

Similarly, alt-coins which are genuinely distinctive in the features they support will give rise to new markets which are supported by those features.

If you just look at things in terms of "what is money doing now ? = that's what digital currencies will be doing in the future" then you're of the mindset that says eMail is going to displace the post office and nothing more. The mindset that doesn't see incidental conversation as a market, that doesn't see mobile texting as a market, that doesn't see online eCommerce help as a market, that doesn't see realtime gaming as a market.

In dismissing the altcoin landscape as a "distraction", Brian Armstrong has exposed his vision as being categorically of that mindset because "sidechains" are no more than a proxy for bitcoin at a technical level. What's required are proxies for bitcoin at a monetary level which are liberated from it at a technical level.

That is the altcoin domain.

[koelen3]

Sounds 100% full of shit just like most everything else Charlie says when he is being full of shit.

Coinbase is nothing but Scammers, Leeches and wana be Banksters.  They want to hid in a secret office for a reason.

The fact Lee has worked at Coinbase for over a year now and hasn't convinced his superiors to accept Litecoin is telling. I think LTC was created to be a Chinese pump and dump by the Lee brothers, I never believed it when Lee said he only had "a couple" Litecoins.

Litecoin is worthess piece of bits and bytes, and the only reason for any value at all is because its related to bitcoin (as in, it is an alt)
People want to invest in bitcoin, they research, and tiny number that reads from bitcoin research finds out about litecoin, and decides to invest some cents in it, and since amount of bitcoin investments is
huge, that tiny bit of people actualy give litecoin value, until they realise that its useless.
This is how much people are actually interested in litecoin:



Any other altcoin is the same, more or less, and if you trully believe that some fancy extra options make it worth something, ull get burned the minute the organised pump and dump finishes.

cheers

Well said! litecoin is as worthless as any other alt