Topic: Coinbase CEO Says Bitcoin and Cryptocurrency Must Evolve to Reach Mass Adoption - page 5. (Read 644 times)
July 27, 2020, 10:32:53 PM
The statements above is true, in order for general groups and local to adapt cryptocurrency they must first understand its syntax and function just like a physical fiat. As if banks and local central central banks would do that right? they deemed crypto as illegal since they can't make profit out of it. That's why crypto doesn't give that resemblance of teaching it to students. In order for widespread adaptation to succeed, they must create an educational program for it to be achieved.
July 27, 2020, 09:44:17 PM
There is already evolution happening to Bitcoin. Bitcoin has never been static. Changes have happened to Bitcoin. Bitcoin 10 years ago is not totally the same Bitcoin that we have right now although preserving, of course, the fundamental features and philosophy. It will take time, so Armstrong will have to be patient for further developments. In the meantime, he should stop building analytics software to be sold to government agencies. He looks like Judas promoting crypto while helping the government monitor and track down people's crypto transactions.
July 27, 2020, 08:44:58 PM
Ah he is a ceo and has his own agenda.
But a three coin system works better as cash.
Doge 1 to 100 usd purchases
Ltc smaller 100 to 1000 usd purchases
Btc large amounts more like a treasury bond or a few oz of gold
all the asics are in place for the coins above.
and scaling issue go by by.
let system send btc in small amounts but pay high
that encourages them to use ltc or doge.
but they wont do the easy way That i am suggesting as it is too transparent.
instead segwit and lightning will obscure tx ids and never really scale.
worse they may manage to do some pos/pow hybrid drifting us further from the idea of turning power into coins.
But a three coin system works better as cash.
Doge 1 to 100 usd purchases
Ltc smaller 100 to 1000 usd purchases
Btc large amounts more like a treasury bond or a few oz of gold
all the asics are in place for the coins above.
and scaling issue go by by.
let system send btc in small amounts but pay high
that encourages them to use ltc or doge.
but they wont do the easy way That i am suggesting as it is too transparent.
instead segwit and lightning will obscure tx ids and never really scale.
worse they may manage to do some pos/pow hybrid drifting us further from the idea of turning power into coins.
July 27, 2020, 08:20:11 PM
I don't believe lightning networks will get anywhere without so much handholding you may as well go full centralised, which the most widely used implementations probably will be.
Let's see what transpires but so far it feels like an interesting curio rather than the thing that'll put usage over in an emphatic manner.
The thing that does that needs to be simpler than bitcoin, not even less comprehensible to Mr or Mrs average.
Let's see what transpires but so far it feels like an interesting curio rather than the thing that'll put usage over in an emphatic manner.
The thing that does that needs to be simpler than bitcoin, not even less comprehensible to Mr or Mrs average.
July 27, 2020, 08:12:36 PM
I personally don't even think that scaling is our main issue.
1. People don't like holding BTC because of the volatility. This is something that could potentially be fixed with time and a long-term increase of market liquidity.
2. People that have been burned in 2017 probably refuse to get back in. The only thing that would probably change their mind is a new ATH.
3. As of now, most people simply don't get the importance of a decentralized, permission-less, and scarce asset.
As for scaling, while lightning is probably not that ready yet, it's still improving, though people refuse to try it out because of the slight complications.
1. People don't like holding BTC because of the volatility. This is something that could potentially be fixed with time and a long-term increase of market liquidity.
2. People that have been burned in 2017 probably refuse to get back in. The only thing that would probably change their mind is a new ATH.
3. As of now, most people simply don't get the importance of a decentralized, permission-less, and scarce asset.
As for scaling, while lightning is probably not that ready yet, it's still improving, though people refuse to try it out because of the slight complications.
July 27, 2020, 07:12:00 PM
From what i can guess, he is just trying to declare that he supports the decentralised terms of the technology after failing to make it centralised.
He's softening us up for Coinbase to become the second layer of choice. If you can't force a change on the base layer you can try and make your company, or a consortium of them, the layer above. And there's a good chance enough people will follow that lead.
July 27, 2020, 06:54:35 PM
Yes he is not wrong. But it's starnge how he came across this conclusion right after years of being one of the biggest players in the crypto market. The CEO of one of the biggest campaign in this field seems to be somehow playing the idiot role here, for an unknown purpose surely.
From what i can guess, he is just trying to declare that he supports the decentralised terms of the technology after failing to make it centralised.
If he is realy serious, i would like to invite him to work on changing the orientation of his company from being a centralised crypto bank to a fully decentralised service. Bitcoin and cryptocurrency will surely evolve to reach mass adoption even more than he could imagine .
From what i can guess, he is just trying to declare that he supports the decentralised terms of the technology after failing to make it centralised.
If he is realy serious, i would like to invite him to work on changing the orientation of his company from being a centralised crypto bank to a fully decentralised service. Bitcoin and cryptocurrency will surely evolve to reach mass adoption even more than he could imagine .
July 27, 2020, 02:24:28 PM
He's not wrong, but this is kind of old news. It's been a problem since the Gavin days discussing block size back in 2014 or thereabouts. The question is more how this is going to happen since the market has been very sluggish to adapt or produce anything, especially after the whole ICO debacle which was a bunch of opportunists stealing money rather than properly developing products.
Ultimately, the free market will come up with answers, but it make take a moment. But the more pressure there is, the sooner it will happen.
Ultimately, the free market will come up with answers, but it make take a moment. But the more pressure there is, the sooner it will happen.
July 27, 2020, 01:55:02 PM
Coinbase CEO Says Bitcoin and Cryptocurrency Must Evolve to Reach Mass Adoption & other BTC news
Check it out: https://www.youtube.com/watch?v=bgm7-E3hrHg&feature=youtu.be
Coinbase CEO Brian Armstrong thinks Bitcoin and crypto must evolve and become easier to use before widespread adoption can take place.
In a new interview with Peter McCormack, the host of the What Bitcoin Did podcast, Armstrong, who co-founded the leading US crypto exchange, says BTC needs to follow the internet’s lead in terms of usability.
“We have not taken any unnecessary risks with [Bitcoin], and we have ensured that it is going to probably survive the test of time as the gold standard, and we may find other solutions with scalability with layer two. I guess the other way to look at it is, ‘What would have happened if we had found a way to safely scale it?’ Maybe we would not have had a need for some of these other chains that have come up and divided focus.
The Cryptocurrency Portal
https://www.thecryptocurrencyportal.com
Check it out: https://www.youtube.com/watch?v=bgm7-E3hrHg&feature=youtu.be
Coinbase CEO Brian Armstrong thinks Bitcoin and crypto must evolve and become easier to use before widespread adoption can take place.
In a new interview with Peter McCormack, the host of the What Bitcoin Did podcast, Armstrong, who co-founded the leading US crypto exchange, says BTC needs to follow the internet’s lead in terms of usability.
“We have not taken any unnecessary risks with [Bitcoin], and we have ensured that it is going to probably survive the test of time as the gold standard, and we may find other solutions with scalability with layer two. I guess the other way to look at it is, ‘What would have happened if we had found a way to safely scale it?’ Maybe we would not have had a need for some of these other chains that have come up and divided focus.
The Cryptocurrency Portal
https://www.thecryptocurrencyportal.com
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