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Coinbase adds support for Litecoin

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Re: Coinbase adds support for Litecoin

#111

Post by celticninja »

sanswork wrote: post #86
charsifood wrote: post #84

Earlier quoted context omitted.

I'm judging the value of a cryptocurrency by how many tangible goods and services I can extract from it. That is the entire function of a currency. I can pay for my VPN and my cloud servers with BTC. I can meet up with people locally and sell BTC for cash [effortlessly]. I can't do that with any other cryptocurrency. I'm not at all judging the technical merits of one cryptocurrency versus another.

>I can pay for my VPN and my cloud servers with BTC. Provided you use one of a limited selection of providers compared to using credit cards. >I can meet up with people locally and sell BTC for cash [effortlessly] Depending on where you are located. >I can't do that with any other cryptocurrency. You can do both of those things much more easily using traditional currencies. In both those cases you are getting a worse…

>. In both those cases you are getting a worse deal than just using normal cash for the services desired.

That is complete codswallop. My VPN is cheaper when paid with btc than with PayPal or credit/debit card or Stripe.

Why would you meet up with someone to sell cash for cash?

Re: Coinbase adds support for Litecoin

#112

Post by runeks »

oelmekki wrote: post #82
runeks wrote: post #69

Earlier quoted context omitted.

> Last year, litecoin was stilll "the first altcoin historically, which is just a duplicate of bitcoin and is mostly unmaintained". This year, it suddenly became bitcoin's staging area. Bitcoin already has a staging area, called testnet3. The coins in this network are worthless.

The difference between both is that you can actually use litecoin, so we have an idea how features perform in real conditions. Call that a beta area rather than a staging area if you prefer, but I guess you see the difference between litecoin and testnet.

You're right. The fact that litecoins have monetary value means that real merchants and consumers have an interest in participating (beta testers), as opposed to testnet3 where no actual value can be transferred.

Re: Coinbase adds support for Litecoin

#113

Post by flashmob »

Taek wrote: post #73
flashmob wrote: post #45

Earlier quoted context omitted.

> Bitcoin has by far the greatest amount of research and intellectual effort driving it It's not like the research is exclusive. Note that any research done on bitcoin can also be shared and used on other projects. Litecoin for example, which is a fork of bitcoin, is now benefiting from bitcoin's R&D by using Segwit first. Likewise, other blockchains can teach a lesson for bitcoin. For example sha256 proved not to be…

> 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…

Thanks for clarifying.

Sorry, didn't mean to bring out the ASIC debate so strongly - my point was mainly that the research is not exclusive, and can be shared between projects, as in the litecoin using Segwit example.

Re: Coinbase adds support for Litecoin

#114

Post by sah2ed »

wslh wrote: post #108
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…

> We're YC and our previous idea didn't work out... What do you mean with "We're YC" ?

Perhaps they meant to write "We're [in] YC [currently]".

Re: Coinbase adds support for Litecoin

#115

Post by sanswork »

celticninja wrote: post #110
sanswork wrote: post #86

Earlier quoted context omitted.

>I can pay for my VPN and my cloud servers with BTC. Provided you use one of a limited selection of providers compared to using credit cards. >I can meet up with people locally and sell BTC for cash [effortlessly] Depending on where you are located. >I can't do that with any other cryptocurrency. You can do both of those things much more easily using traditional currencies. In both those cases you are getting a worse…

>. In both those cases you are getting a worse deal than just using normal cash for the services desired. That is complete codswallop. My VPN is cheaper when paid with btc than with PayPal or credit/debit card or Stripe. Why would you meet up with someone to sell cash for cash?

>My VPN is cheaper when paid with btc than with PayPal or credit/debit card or Stripe.

So your VPN also accepts credit/debit cards? That means I have more choice in VPNs as a credit/debit card user. So you're getting the worst deal.

>Why would you meet up with someone to sell cash for cash?

Because you need a different currency? Why would you meet up with someone to sell cash(bitcoin) for cash?

Re: Coinbase adds support for Litecoin

#116

Post by sanswork »

charsifood wrote: post #93
sanswork wrote: post #86

Earlier quoted context omitted.

>I can pay for my VPN and my cloud servers with BTC. Provided you use one of a limited selection of providers compared to using credit cards. >I can meet up with people locally and sell BTC for cash [effortlessly] Depending on where you are located. >I can't do that with any other cryptocurrency. You can do both of those things much more easily using traditional currencies. In both those cases you are getting a worse…

> Provided you use one of a limited selection of providers compared to using credit cards. Compared to the none of them that take ETH. > Depending on where you are located. Or irrespective of where you are located if you are trying to offload ETH because nobody wants it. > That's why you can't judge any cryptocurrency for that because they are all universally shit at it. There are varying degrees of shit and BTC is t…

They are all speculative. You can't possibly believe that the recent increase in Bitcoin price is due to a tripling of its usefulness over the past year right?

Re: Coinbase adds support for Litecoin

#117

Post by developer2 »

bhaak wrote: post #104
developer2 wrote: post #98

Earlier quoted context omitted.

The way people are treating cryptocurrency exchanges makes absolutely no sense to me. Most people are buying into it because they are absolutely certain they will manage to cash out once the currency hits an extreme "all time high". When such a peak occurs whereby the top 1% - as determined by number of coins owned - cashes out, everyone else who jumped on the bandwagon thinking they would also cash out is going to b…

> Let's be absolutely clear: your coins are only worth what someone is willing to pay. And when the one and only true "run on the bank" of one of these currencies happens, it will happen within the span of less than an hour. All these people who are buying to eventually cash out are going to blink and wonder what the hell happened. That's not so different than what can happen in real life with currencies, isn't it? S…

>> he/she/them are dead or lost the keys to their private wallet[...] the minute this coins move, the price will plummet. And you can be sure that many people are watching these coins, a move will be noticed. Immediately.

This aspect of BTC specifically makes me roar with laughter. The fact that anyone is willing to hope that Nakamoto's coins are "lost", discounting their very real value should he/she be sitting on that cash cow. What a great con on their part. You say trading of those coins will be noticed "immediately". The transaction log will cement that trade before (well, as) it's noticed. The only thing people will notice is the aftermath. Those who are personally monitoring the blockchain with automation will notify themselves within 5 minutes, while the public at large won't figure it out for hours. By the time the "BTC is now worthless" headlines hit the major news outlets, it will be too late for the average user to cash out.

Re: Coinbase adds support for Litecoin

#118

Post by charsifood »

sanswork wrote: post #116
charsifood wrote: post #93

Earlier quoted context omitted.

> Provided you use one of a limited selection of providers compared to using credit cards. Compared to the none of them that take ETH. > Depending on where you are located. Or irrespective of where you are located if you are trying to offload ETH because nobody wants it. > That's why you can't judge any cryptocurrency for that because they are all universally shit at it. There are varying degrees of shit and BTC is t…

They are all speculative. You can't possibly believe that the recent increase in Bitcoin price is due to a tripling of its usefulness over the past year right?

They're all speculative; only one of them is useful.

Re: Coinbase adds support for Litecoin

#119

Post by pmorici »

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…

Why do you think buying each one individually is a pain?

Re: Coinbase adds support for Litecoin

#120

Post by sanswork »

charsifood wrote: post #118
sanswork wrote: post #116

Earlier quoted context omitted.

They are all speculative. You can't possibly believe that the recent increase in Bitcoin price is due to a tripling of its usefulness over the past year right?

They're all speculative; only one of them is useful.

For extremely limited definitions of the term useful.
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