Topic: Coinbase CEO: bitcoin is far ahead! Altcoins are distractions! - page 4. (Read 10495 times)

Altcoins aren't sardines, they are parasites leeching off the one sardine. (bitcoin)


Nice market astrology you got there. I too can make things up about graphs.

This argument applies equally to Bitcoin.

The only reason it looks as if it doesn't is because we are like wee sardines in a tin and there's one big sardine in it. Meanwhile out in the "real world" they're dining on whale, squid, haddock, shark, cod, ling and sole.

From out there, all the sardines are still in the tin and they all look the same.

Mass adoption in Bitcoin as a store of value will lead to niche market adoption of alts as currencies because bitcoin simply isn't remotely equipped to serve as a currency on a day to day basis for many markets.

For a start, it's not stable against fiat - some alts are. It's slow as f*ck to confirm - some alts are fast. It's expensive and deflationary if you need a lot of liquidity - many alts are not. It doesn't natively support digital assets - some alts do. With bitcoin there's no transaction privacy - with some alts there is.

The world financial system is a huge place. It never has and never will been able to function with only 1 form of money or 1 currency. With the arrival of digital currencies it's only going to diversify.

But it is not growing. Nobody is going to take a meme coin seriously and you expect some major brands or companies are going to accept some dogecoin? Let the bitcoin confirmation time stay at it is. If you are paying some small amount of money, as long as you already seen the first confirmation, I supposed, it's enough to move on.

With clueless remarks like that, I'm starting to think your avatar does you justice.

I see his point. Bitcoin has the better chance of success compared to any other altcoins. It even has a better chance of success of all other existing altcoins combined.

You just gotta remember that innovation especially to newbies is solely used to pump. We don't need that crap.

LoL.

I don't have much disagreement with you there but I think your letting your Paycoin induced "red mist" colour your vision of an entire industry. Lighten up - there are also some fresh flowers in the garden.


Good stuff alright, but that's called "maintenance", not innovation to those of us that know anything about software 

Sure let's support the industry scam innovator Homero garza

I'll stick to real innovation https://twitter.com/gavinandresen/status/571130787694841856

Apply for a job at the EU Troika. You'd be well put to use  

(Alternatively you could "grow some balls" yourself and endorse technical innovation and market diversity).

Typical ignorant pump lately also used by the paycoin scammers.

1 Bitcoin confirmation = 4 shitcoin confirmations

It's a joke, Dell isn't going to take a fucking light or dog coin. Or paycoin or xxxcoin, or quarks or any shitcoin. Shitcoiners only dilute their own investment by using alts, use one and you open the door to the current thousands. Go buy some foodcoin or weedcoin or cannabiscoin or hashcoin or boolberry, choose your scam.

Grow some balls and join one team, one community, Bitcoin. You're trying to fight us at your own detriment. Embiciles just like the paycoiners. Their greed cost them all their money. Idiots bought the fast confirmation bs. Guess what, Homero got your money and now you're giving it to Charles and his brother.

Guess what Litecoin is an alt of an alt, choose your shitcoin here http://mapofcoins.com/bitcoin

This, his brother is pumping and dumping Litecoin in China using an exchange he owns, btcchina

Well said! litecoin is as worthless as any other alt

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.

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,

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

I'm Andrew, what do you think 

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!

without China, BTC would be down

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?

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.