Coinbase CEO: bitcoin is far ahead! Altcoins are distractions! - page 10.

celestio

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Quote from: jimmothy on February 24, 2015, 02:06:44 AM

Quote from: celestio on February 24, 2015, 01:47:24 AM

The funny thing is that you're all wrong. Bitcoin is unsuitable for micropayments/transactions, even Gavin Anderson said so. However, an altcoin named cryptonite makes that possible through it's miniblockchain. Bitcoin is unsuitable for instant transactions, however an altcoin named Darkcoin makes that possible through masternodes, and finally Bitcoin is unsuitable for anonymity, but however a altcoin named Monero makes that possible through it's RingSignatures.

Bitcoin has no use cases. It's useless for micro transactions, its useless for anonymity, and its useless for instant transactions. Sidechains won't help that, as another use pointed out, developers of altcoins come to improve upon bitcoin, not work with Bitcoin's flaws. And as another user said, Bitcoin is an altcoin, and it's in Beta stage with hardly any userbase compared to even apps on Google Play.

Get realistic.

Another shitcoin enthusiast who doesn't understand sidechains. I'd suggest you do some research before sidechains rolls out because it's going to make your worthless shitcoins even more worthless.

The nice thing about sidechains is that it doesn't require using the bitcoin protocol. That means there can be entire sidechains created for micropayments/merchant transactions/anonymity/etc. If it turns out that cryptonite, darkcoin, or monero bring features people want, they can be simply implemented as sidechains.

It's funny that you say that because for all intents and purposes, Bitcoin was the very first "shitcoin" and is currently the #1 "shitcoin". Satoshi Nakamoto mined aprox 1million Bitcoins, most early adopters bought tons at ridiculously "low" prices, and most of all Bitcoin's entire price increase history was because of an illegal trading bot using nonexistent fiat cash to buy bitcoins on MtGox.

You're trying to defend your investment in Bitcoin, I know, but it's all in vain when you look at the details.

celestio

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Quote from: celestio on February 24, 2015, 02:01:51 AM

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Quote from: celestio on February 24, 2015, 01:56:29 AM

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Quote from: celestio on February 24, 2015, 01:47:24 AM

The funny thing is that you're all wrong. Bitcoin is unsuitable for micropayments/transactions, even Gavin Anderson said so. However, an altcoin named cryptonite makes that possible through it's miniblockchain. Bitcoin is unsuitable for instant transactions, however an altcoin named Darkcoin makes that possible through masternodes, and finally Bitcoin is unsuitable for anonymity, but however a altcoin named Monero makes that possible through it's RingSignatures.

Bitcoin has no use cases. It's useless for micro transactions, its useless for anonymity, and its useless for instant transactions. Sidechains won't help that, as another use pointed out, developers of altcoins come to improve upon bitcoin, not work with Bitcoin's flaws. And as another user said, Bitcoin is an altcoin, and it's in Beta stage with hardly any userbase compared to even apps on Google Play.

Get realistic.

Quote from: jimmothy on February 24, 2015, 01:18:44 AM

That single investment round in a sidechains company is more money than the market cap of all but 2 shitcoins. (3 if you include ripples obviously fake market cap)

Yea, and a single app on Apple Appstore/GooglePlay(Snapchat, and many others) is worth over 4x as much as Bitcoin's marketcap.

Holyshit, and Facebook net value is worth mutiples of Snapchat.

Wait, did you just tell everyone on here that you're just a dumb fuck?

Are you making any sense? Bitcoin is supposed to be a currency. Currencies are supposed to be multi-billion to trillion dollar entities. A single app being worth over 4x as much as Bitcoin's marketcap should tell you something.

No dumbshit, currency isnt supposed to be an entity. Go learn what currency is.

Are you legitimately retarded, or trolling? Serious question.

Funny you ask because i was wondering the same thing.

Can you put a market cap on a currency and say that currency is worth X? No stupid. Currency isnt a product or company.

Ok, I just had to respond to your outright stupidity. Bitcoin is not being treated as a currency, it's being treated as a speculative investment incase you didn't know. So yes, you can and it does have a marketcap on Bitcoin, which as of right now is not behaving as a currency should. It's behaving like an investment or stock.

Go back to school please, take economics, take english classes, take counseling. Do something, please! And with that, I bid you farewell, troll.

Kprawn

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This might be a bit controversial, but in a sense, what he is saying has some merit.

Bitcoin is seeking mass adoption, and if people new to crypto currencies get burned on some "pump n dump" coin {not saying all Alt coins are} ....they might get discouraged, to adopt BTC too.

The problem with this is, that Alt coins imo are the testing area for BTC for many NEW innovative features and we are just human. {Not everyone wants to drink Coke, some like Orange juice}

Yes, BTC is the de facto and strongest currency, and it should be easier for NEW people to only have one option, but Alt coins should also have a place in the sun.

Do we need 900+ Alt coins? {Well that is a subject on it's own}

jimmothy

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Quote from: celestio on February 24, 2015, 01:47:24 AM

The funny thing is that you're all wrong. Bitcoin is unsuitable for micropayments/transactions, even Gavin Anderson said so. However, an altcoin named cryptonite makes that possible through it's miniblockchain. Bitcoin is unsuitable for instant transactions, however an altcoin named Darkcoin makes that possible through masternodes, and finally Bitcoin is unsuitable for anonymity, but however a altcoin named Monero makes that possible through it's RingSignatures.

Bitcoin has no use cases. It's useless for micro transactions, its useless for anonymity, and its useless for instant transactions. Sidechains won't help that, as another use pointed out, developers of altcoins come to improve upon bitcoin, not work with Bitcoin's flaws. And as another user said, Bitcoin is an altcoin, and it's in Beta stage with hardly any userbase compared to even apps on Google Play.

Get realistic.

Another shitcoin enthusiast who doesn't understand sidechains. I'd suggest you do some research before sidechains rolls out because it's going to make your worthless shitcoins even more worthless.

The nice thing about sidechains is that it doesn't require using the bitcoin protocol. That means there can be entire sidechains created for micropayments/merchant transactions/anonymity/etc. If it turns out that cryptonite, darkcoin, or monero bring features people want, they can be simply implemented as sidechains.

celestio

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Activity: 770

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Quote from: ?? on ??

Quote from: celestio on February 24, 2015, 01:56:29 AM

Quote from: ?? on ??

Quote from: celestio on February 24, 2015, 01:47:24 AM

The funny thing is that you're all wrong. Bitcoin is unsuitable for micropayments/transactions, even Gavin Anderson said so. However, an altcoin named cryptonite makes that possible through it's miniblockchain. Bitcoin is unsuitable for instant transactions, however an altcoin named Darkcoin makes that possible through masternodes, and finally Bitcoin is unsuitable for anonymity, but however a altcoin named Monero makes that possible through it's RingSignatures.

Bitcoin has no use cases. It's useless for micro transactions, its useless for anonymity, and its useless for instant transactions. Sidechains won't help that, as another use pointed out, developers of altcoins come to improve upon bitcoin, not work with Bitcoin's flaws. And as another user said, Bitcoin is an altcoin, and it's in Beta stage with hardly any userbase compared to even apps on Google Play.

Get realistic.

Quote from: jimmothy on February 24, 2015, 01:18:44 AM

That single investment round in a sidechains company is more money than the market cap of all but 2 shitcoins. (3 if you include ripples obviously fake market cap)

Yea, and a single app on Apple Appstore/GooglePlay(Snapchat, and many others) is worth over 4x as much as Bitcoin's marketcap.

Holyshit, and Facebook net value is worth mutiples of Snapchat.

Wait, did you just tell everyone on here that you're just a dumb fuck?

Are you making any sense? Bitcoin is supposed to be a currency. Currencies are supposed to be multi-billion to trillion dollar entities. A single app being worth over 4x as much as Bitcoin's marketcap should tell you something.

No dumbshit, currency isnt supposed to be an entity. Go learn what currency is.

Are you legitimately retarded or trolling? Serious question. It seems you dont know what the word entity implies in that context. Regardless, I don't have time to respond to idiots. Ignored.

celestio

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Activity: 770

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Quote from: celestio on February 24, 2015, 01:47:24 AM

The funny thing is that you're all wrong. Bitcoin is unsuitable for micropayments/transactions, even Gavin Anderson said so. However, an altcoin named cryptonite makes that possible through it's miniblockchain. Bitcoin is unsuitable for instant transactions, however an altcoin named Darkcoin makes that possible through masternodes, and finally Bitcoin is unsuitable for anonymity, but however a altcoin named Monero makes that possible through it's RingSignatures.

Bitcoin has no use cases. It's useless for micro transactions, its useless for anonymity, and its useless for instant transactions. Sidechains won't help that, as another use pointed out, developers of altcoins come to improve upon bitcoin, not work with Bitcoin's flaws. And as another user said, Bitcoin is an altcoin, and it's in Beta stage with hardly any userbase compared to even apps on Google Play.

Get realistic.

Quote from: jimmothy on February 24, 2015, 01:18:44 AM

That single investment round in a sidechains company is more money than the market cap of all but 2 shitcoins. (3 if you include ripples obviously fake market cap)

Yea, and a single app on Apple Appstore/GooglePlay(Snapchat, and many others) is worth over 4x as much as Bitcoin's marketcap.

Holyshit, and Facebook net value is worth mutiples of Snapchat.

Wait, did you just tell everyone on here that you're just a dumb fuck?

Are you making any sense? Bitcoin is supposed to be a currency. Currencies are supposed to be multi-billion to trillion dollar entities. A single app being worth over 4x as much as Bitcoin's marketcap should tell you something.

celestio

sr. member

Activity: 770

Merit: 250

The funny thing is that you're all wrong. Bitcoin is unsuitable for micropayments/transactions, even Gavin Anderson said so. However, an altcoin named cryptonite makes that possible through it's miniblockchain. Bitcoin is unsuitable for instant transactions, however an altcoin named Darkcoin makes that possible through masternodes, and finally Bitcoin is unsuitable for anonymity, but however a altcoin named Monero makes that possible through it's RingSignatures.

Bitcoin has no use cases. It's useless for micro transactions, its useless for anonymity, and its useless for instant transactions. Sidechains won't help that, as another use pointed out, developers of altcoins come to improve upon bitcoin, not work with Bitcoin's flaws. And as another user said, Bitcoin is an altcoin, and it's in Beta stage with hardly any userbase compared to even apps on Google Play.

Get realistic.

Quote from: jimmothy on February 24, 2015, 01:18:44 AM

That single investment round in a sidechains company is more money than the market cap of all but 2 shitcoins. (3 if you include ripples obviously fake market cap)

Yea, and a single app on Apple Appstore/GooglePlay(Snapchat, and many others) is worth over 4x as much as Bitcoin's marketcap.

jimmothy

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Quote from: Joshuar on February 24, 2015, 12:23:22 AM

Quote from: jimmothy on February 24, 2015, 12:06:29 AM

Quote from: Joshuar on February 23, 2015, 09:28:59 PM

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).

Please do explain why you can't use sidechains to improve upon the protocol instead of creating a new ~~get rich quick scheme~~ altcoin for every new idea.

Bitcoin was a "get rich quick scheme" itself if you wanna go that route. There is no incentive for notable developers to work on sidechains, period. I'll let you figure out the rest for yourself. One big reason for legitimate "altcoin" developers is that they want to improve upon Bitcoin itself on a protocol level, as well as other areas (Substitues for mining, Improving distribution of coins: Satoshi holds 1million bitcoins, etc), and they cant do that through sidechains.

After all, Bitcoin, and every other cryptocurrency out there is still in Beta stage. Bitcoin has under 10million users(I suspect far lower, as low as 1million since blockchain.info has less than 5 million accounts created), so it's stupid to rule out anything as of now.

LOL distribution again. I would expect these altcoins dumb fucks would sing a different song by now.

As for the "incentives" to work on sidechains, you must be dumb as fuck if you think there is none.

http://www.coindesk.com/blockstream-21-million-funding-will-drive-bitcoin-development/

I'd love to know how this company managed to raise $21 million if there are no incentives. That single investment round in a sidechains company is more money than the market cap of all but 2 shitcoins. (3 if you include ripples obviously fake market cap)

Lauda

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Terminated.

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Quote from: Joshuar on February 24, 2015, 12:23:22 AM

Bitcoin was a "get rich quick scheme" itself if you wanna go that route. There is no incentive for notable developers to work on sidechains, period. I'll let you figure out the rest for yourself. One big reason for legitimate "altcoin" developers is that they want to improve upon Bitcoin itself on a protocol level, as well as other areas (Substitues for mining, Improving distribution of coins: Satoshi holds 1million bitcoins, etc), and they cant do that through sidechains.

After all, Bitcoin, and every other cryptocurrency out there is still in Beta stage. Bitcoin has under 10million users(I suspect far lower, as low as 1million since blockchain.info has less than 5 million accounts created), so it's stupid to rule out anything as of now.

LOL distribution again. I would expect these altcoins dumb fucks would sing a different song by now.

As for the "incentives" to work on sidechains, you must be dumb as fuck if you think there is none.

The argument that Bitcoin itself was a "get rich quick sheme" is just so weak. This is just wrong. Bitcoin differs in many things from ltcoins.
Coinbase is right. Altcoins have been leeching off of the market cap and pushing away users with scams and whatnot.
(coming from someone who was into altcoins 1 year ago).

Joshuar

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Quote from: jimmothy on February 24, 2015, 12:06:29 AM

Quote from: Joshuar on February 23, 2015, 09:28:59 PM

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).

Please do explain why you can't use sidechains to improve upon the protocol instead of creating a new ~~get rich quick scheme~~ altcoin for every new idea.

Bitcoin was a "get rich quick scheme" itself if you wanna go that route. There is no incentive for notable developers to work on sidechains, period. I'll let you figure out the rest for yourself. One big reason for legitimate "altcoin" developers is that they want to improve upon Bitcoin itself on a protocol level, as well as other areas (Substitues for mining, Improving distribution of coins: Satoshi holds 1million bitcoins, etc), and they cant do that through sidechains.

After all, Bitcoin, and every other cryptocurrency out there is still in Beta stage. Bitcoin has under 10million users(I suspect far lower, as low as 1million since blockchain.info has less than 5 million accounts created), so it's stupid to rule out anything as of now.

jimmothy

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Quote from: Joshuar on February 23, 2015, 09:28:59 PM

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).

Please do explain why you can't use sidechains to improve upon the protocol instead of creating a new ~~get rich quick scheme~~ altcoin for every new idea.

bryant.coleman

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Quote from: koelen3 on February 23, 2015, 09:08:06 PM

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.

randy8777

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Quote from: Bit_Happy on February 23, 2015, 10:02:42 PM

Quote from: koelen3 on February 23, 2015, 09:08:06 PM

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.

Beliathon

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Quote from: Joshuar on February 23, 2015, 10:47:54 PM

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.

Joshuar

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Quote from: Beliathon on February 23, 2015, 09:53:22 PM

Quote from: Joshuar on February 23, 2015, 09:39:04 PM

Is coinbase not a USD-BTC exchange?

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

Quote from: Joshuar on February 23, 2015, 09:39:04 PM

Do you really think Bitcoin has a future?

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

Quote from: Joshuar on February 23, 2015, 09:39:04 PM

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.

Quote from: Joshuar on February 23, 2015, 09:39:04 PM

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.

Quote from: Joshuar on February 23, 2015, 09:39:04 PM

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.

Bit_Happy

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A Great Time to Start Something!

Quote from: koelen3 on February 23, 2015, 09:08:06 PM

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.

Beliathon

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https://youtu.be/PZm8TTLR2NU

Quote from: Joshuar on February 23, 2015, 09:54:50 PM

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

Rofl.

Quote from: Joshuar on February 23, 2015, 09:54:50 PM

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

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

Joshuar

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Quote from: Beliathon on February 23, 2015, 09:53:22 PM

Quote from: Joshuar on February 23, 2015, 09:39:04 PM

Is coinbase not a USD-BTC exchange?

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

Quote from: Joshuar on February 23, 2015, 09:39:04 PM

Do you really think Bitcoin has a future?

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

Quote from: Joshuar on February 23, 2015, 09:39:04 PM

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.

Quote from: Joshuar on February 23, 2015, 09:39:04 PM

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.

Quote from: Joshuar on February 23, 2015, 09:39:04 PM

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

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https://youtu.be/PZm8TTLR2NU

Quote from: Joshuar on February 23, 2015, 09:39:04 PM

Is coinbase not a USD-BTC exchange?

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

Quote from: Joshuar on February 23, 2015, 09:39:04 PM

Do you really think Bitcoin has a future?

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

Quote from: Joshuar on February 23, 2015, 09:39:04 PM

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.

Quote from: Joshuar on February 23, 2015, 09:39:04 PM

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.

Quote from: Joshuar on February 23, 2015, 09:39:04 PM

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.

saddambitcoin

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This thread should be moved to the Altcoin Forum.

Cool

Topic: Coinbase CEO: bitcoin is far ahead! Altcoins are distractions! - page 10. (Read 10474 times)