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Coinbase adds support for Litecoin

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Re: Coinbase adds support for Litecoin

#161

Post by max_ »

tudorconstantin wrote: post #38
pferdone wrote: post #30

Earlier quoted context omitted.

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

For example they had that bug last year where somebody was able to steal 50 million dollars equivalent ether from the network. IIRC that caused one of the hard forks and is the reason there are now both eth and etc. That was a bug in the DAO protocol. I'm not aware of any bugs in the btc protocol to allow hackers to steal money in their entire 8 years existence

Just because they hacked your webapp with XSS does not mean that the whole AWS is insecure.

Re: Coinbase adds support for Litecoin

#162

Post by VMG »

danielpatrick wrote: post #147
Taek wrote: post #73

Earlier quoted context omitted.

> For example sha256 proved not to be a good hashing algo because the reliance on ASICs, which centralizes mining. Another important area in research is the development of other greener forms of blockchain security such as Proof of Stake, which will most likely replace Proof Of Work once perfected. Theoretically speaking all algorithms are able to be optimized by ASICs. ASIC resistance is not about making ASICs impos…

Or use PoS to avoid the situation entirely.

It's not clear you get to keep the good parts of PoW then.

Re: Coinbase adds support for Litecoin

#163

Post by SirensOfTitan »

tuxracer wrote: post #22

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

1. BTC has been increasingly acting unstably: transactions cost a lot and take a long time to confirm. The BTC core development team has proven itself incompetent and unable to handle the situation properly.

2. In Litecoin's case: its activation of Segwit may attract BTC core and other BTC enthusiasts.

3. Ethereum's recovery from DAO hack. I personally think the swift hard fork in this scenario was a great call, and it really convinced me of the leadership at the Ethereum Foundation.

4. Second generation proof-of-stake systems are increasingly looking like they'll work. A movement away from proof-of-work as a consensus algorithm I find crucial to the long term success of any cryptocurrency.

5. BTC ETF (and Ethereum ETF certainly also going to be denied by the SEC) application and the Winklevii garnered cryptocurrencies a lot of attention.

Overall, I think people are finally metaphorically grasping the concepts around cryptocurrencies. As a result of this, several currencies are coming out that are rapidly outpacing BTC in innovation, especially Ethereum.

Re: Coinbase adds support for Litecoin

#164

Post by feedjoelpie »

repomies691 wrote: post #133
Uptrenda wrote: post #124

I never really got the appeal of Litecoin. It was basically just a copy and paste of Bitcoin with only minor alterations made to the source code (like changing the PoW for Script which never really defeated ASICs and a few other small changes.) It made no major innovations that can be named and even to this day it still lacks several of the major bug fixes that made it into Bitcoin (there are still patches missing fr…

Markets gonna value what they want to value... I think it is good to have different options for people. Overall I think cryptocurrencies are undervalued - 40 billion market cap is nothing when thinking about the potential. However what cryptocurrency should have which percentage of the crypto economy is a much more difficult question.

Cryptocurrencies are valued as low as they are _because_ of the question of which cryptocurrency should have which percentage of the economy. It's arbitrary to make new ones. Even as increased adoption of cyptocurrency _in general_ is highly likely, the adoption of _any particular coin_ is still full of uncertainty.

Re: Coinbase adds support for Litecoin

#165

Post by VMG »

tscs37 wrote: post #89
tudorconstantin wrote: post #38

Earlier quoted context omitted.

For example they had that bug last year where somebody was able to steal 50 million dollars equivalent ether from the network. IIRC that caused one of the hard forks and is the reason there are now both eth and etc. That was a bug in the DAO protocol. I'm not aware of any bugs in the btc protocol to allow hackers to steal money in their entire 8 years existence

DAO wasn't a protocol anymore than a Bitcoin Client is part of the protocol. It was an application that failed.

And yet there was a protocol change to fix the application failure.

Re: Coinbase adds support for Litecoin

#166

Post by edpichler »

Why should I use litecoin for transfer money when there is bitcoin with more liquidity? I really don't get this yet. Anyone could explain?

PS: I am a Bitcoin enthusiast, and I am not criticizing Litecoin, I just want to understand the possible advantages it could have.

Re: Coinbase adds support for Litecoin

#167

Post by johndevor »

edpichler wrote: post #166

Why should I use litecoin for transfer money when there is bitcoin with more liquidity? I really don't get this yet. Anyone could explain? PS: I am a Bitcoin enthusiast, and I am not criticizing Litecoin, I just want to understand the possible advantages it could have.

I think they may be trying to put pressure on China to go with Segwit. This move would show Segwit's feasibility when it gets activated in a couple of weeks on Litecoin.

Re: Coinbase adds support for Litecoin

#168

Post by tscs37 »

VMG wrote: post #165
tscs37 wrote: post #89

Earlier quoted context omitted.

DAO wasn't a protocol anymore than a Bitcoin Client is part of the protocol. It was an application that failed.

And yet there was a protocol change to fix the application failure.

There wasn't a protocol change either.

The hardfork that came after the burning failure of the DAO moved account values from the DAO to a new contract.

The protocol remained the same.

Re: Coinbase adds support for Litecoin

#169

Post by kzisme »

I don't really get the draw towards crypto-currencies - aside from mining them to bring more into the pool of available currency - is there a point to purchasing or using them to make purchases?

Is there a reason I should start using these currencies? Aside from trading currencies to make a few bucks?

Re: Coinbase adds support for Litecoin

#170

Post by runeks »

hultner wrote: post #125
VMG wrote: post #106

Earlier quoted context omitted.

You can't rank altcoins by market cap, it's a very flawed indicator. Unlike Bitcoin, none of the Altcoins currently have any use outside speculation, including Ethereum. There is significant skepticism that Ethereum could deliver on it's promises if it was widely used. Litecoin is an almost identical clone of Bitcoin. The network recently decided to implement a change (called SegWit) that will help with scalability (…

Makes me curious. If not by market cap, how would you rank them?

Liquidity is the only measure that really matters for money. One measure of liquidity/market depth could be: for how many USD can you buy/sell while only moving the price, say, 1%. To get a more detailed picture you could plot it on a graph with USD amount on one axis and slippage (price change) on the other axis.

You'd have to merge the order books of all exchanges for a particular coin, and execute the order against that. I'm fairly certain that by this measure, Bitcoin is multiple orders of magnitudes more liquid than all other crypto currencies combined.

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