Coinbase adds support for Litecoin • Hacker News Board

Re: Coinbase adds support for Litecoin

#21

Post by mrb » Thu, May 04, 2017, 5:05 AM UTC

lend000 wrote: post #10

It will take significant time and effort to overtake Bitcoin's name recognition and first mover advantage. However, there's also an advantage to being a second mover that can adapt quickly to a changing environment... I doubt Bitcoin will be the supreme crypto-currency in a few years. It's just too implausible that Bitcoin is perfect enough as is, and/or the community will be able to implement any needed changes befo…

Bitcoin doesn't need to be perfect to remain #1. Just needs to be good enough.

Re: Coinbase adds support for Litecoin

#22

Post by tuxracer » Thu, May 04, 2017, 5:12 AM UTC

Is there a reason a lot of these cryptocurrencies have suddenly started to skyrocket all at once?

Re: Coinbase adds support for Litecoin

#23

Post by dvdhsu » Thu, May 04, 2017, 5:14 AM UTC

Is there interest in a cryptocurrency index fund? The idea is you could just buy an index fund composed of, say, 50% BTC, 20% ETH, 15% LTC and 15% ZEC. I'm fairly certain that one of these cryptocurrencies will 10 or 100x in value over the next 5 years, but buying each one individually is just such a pain. Would you invest?

In reality, we'd probably buy the top 10 coins weighted according to some measure, and rebalance once a week. We would send out investor updates and let you know what the weights are, along with performance over the past week.

We're YC and our previous idea didn't work out, and this is something we're considering pivoting to. If we get enough interest we'll start one!

Re: Coinbase adds support for Litecoin

#24

Post by gragas » Thu, May 04, 2017, 5:16 AM UTC

ptenk wrote: post #6

This rise is driven by Coinbase alone. The premium there was like 30-40% to other exchanges at one point.

The whole Bitfinex scandal could have contributed to the rise as well. Bitfinex was one of the largest exchanges, but now no one (except people with Taiwanese bank accounts) can wire fiat out. Suddenly, traders are pouring out of Bitfinex and into the next best place---Coinbase, where trading on margin is free.

Really, the only reason not to use Coinbase right now is if you think that US banks will "crack down" on them as well and not accept any transfers out.

Re: Coinbase adds support for Litecoin

#25

Post by RoboTeddy » Thu, May 04, 2017, 5:27 AM UTC

dvdhsu wrote: post #23

Is there interest in a cryptocurrency index fund? The idea is you could just buy an index fund composed of, say, 50% BTC, 20% ETH, 15% LTC and 15% ZEC. I'm fairly certain that one of these cryptocurrencies will 10 or 100x in value over the next 5 years, but buying each one individually is just such a pain. Would you invest? In reality, we'd probably buy the top 10 coins weighted according to some measure, and rebalan…

If I believed that the people behind the fund were capable of separating nonsense projects from real ones by reading their whitepapers, then absolutely yes!

Re: Coinbase adds support for Litecoin

#26

Post by pferdone » Thu, May 04, 2017, 5:31 AM UTC

dvdhsu wrote: post #23

Is there interest in a cryptocurrency index fund? The idea is you could just buy an index fund composed of, say, 50% BTC, 20% ETH, 15% LTC and 15% ZEC. I'm fairly certain that one of these cryptocurrencies will 10 or 100x in value over the next 5 years, but buying each one individually is just such a pain. Would you invest? In reality, we'd probably buy the top 10 coins weighted according to some measure, and rebalan…

There already is such a thing with Iconomi. https://medium.com/iconominet/iconomi-cryptocurrencies-index...

Re: Coinbase adds support for Litecoin

#27

Post by ra » Thu, May 04, 2017, 5:32 AM UTC

dvdhsu wrote: post #23

Is there interest in a cryptocurrency index fund? The idea is you could just buy an index fund composed of, say, 50% BTC, 20% ETH, 15% LTC and 15% ZEC. I'm fairly certain that one of these cryptocurrencies will 10 or 100x in value over the next 5 years, but buying each one individually is just such a pain. Would you invest? In reality, we'd probably buy the top 10 coins weighted according to some measure, and rebalan…

I have a few Eth and Btc, but was thinking today how it would make more sense to hold a portfolio of say the top 10 coins weighted by market cap, and rebalance every month based on https://coinmarketcap.com/

Re: Coinbase adds support for Litecoin

#28

Post by RexetBlell » Thu, May 04, 2017, 5:33 AM UTC

dvdhsu wrote: post #23

Is there interest in a cryptocurrency index fund? The idea is you could just buy an index fund composed of, say, 50% BTC, 20% ETH, 15% LTC and 15% ZEC. I'm fairly certain that one of these cryptocurrencies will 10 or 100x in value over the next 5 years, but buying each one individually is just such a pain. Would you invest? In reality, we'd probably buy the top 10 coins weighted according to some measure, and rebalan…

I would invest in the index fund. Maybe it would be better if it was managed this early on where the assets the fund invests in are hand picked and rebalanced every month.

Also I would suggest allocating more than 20% to ETH.

Re: Coinbase adds support for Litecoin

#29

Post by spullara » Thu, May 04, 2017, 5:34 AM UTC

dvdhsu wrote: post #23

Is there interest in a cryptocurrency index fund? The idea is you could just buy an index fund composed of, say, 50% BTC, 20% ETH, 15% LTC and 15% ZEC. I'm fairly certain that one of these cryptocurrencies will 10 or 100x in value over the next 5 years, but buying each one individually is just such a pain. Would you invest? In reality, we'd probably buy the top 10 coins weighted according to some measure, and rebalan…

These funds exist but it isn't as easy to buy into as an index fund if you want the analysis behind it.

Re: Coinbase adds support for Litecoin

#30

Post by pferdone » Thu, May 04, 2017, 5:34 AM UTC

Taek wrote: post #19

lend000 wrote: post #10

It will take significant time and effort to overtake Bitcoin's name recognition and first mover advantage. However, there's also an advantage to being a second mover that can adapt quickly to a changing environment... I doubt Bitcoin will be the supreme crypto-currency in a few years. It's just too implausible that Bitcoin is perfect enough as is, and/or the community will be able to implement any needed changes befo…

Bitcoin has by far the greatest amount of research and intellectual effort driving it, and it's far from a static protocol. It doesn't need to have gotten everything perfect, it needs to change just quickly (or slowly) enough to retain its core value proposition vs. other cryptocurrencies. Maybe it will get replaced, maybe not. But there's no question to me that Bitcoin is by far the most decentralized, most secure,…

I would like to hear your opinion why you think Bitcoin is more secure than Ethereum.