Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Litecoin and Ethereum buys and sells are temporarily disabled

status.coinbase.com

Post reply on HN
Print view View original

521–530 of 566 posts

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#521

Post by Frogolocalypse »

mikefallen wrote: post #516
Frogolocalypse wrote: post #472

Earlier quoted context omitted.

> The main point here is that there's absolutely nothing innovative about BTC anymore That demonstrates a fundamental lack of understanding of what makes bitcoin valuable, and what separates it from all other competitors. Bitcoin node decentralization is what keeps it censorship resistant, and in bitcoin node decentralization, it is ahead of any and all competitors. It likely has more fully validating nodes than all…

150k full nodes? https://bitnodes.earn.com/ says ~11.5k full nodes

That service only includes a subset of listening nodes. That variant of node is only a fraction of the full nodes used to validate the bitcoin blockchain.

http://luke.dashjr.org/programs/bitcoin/files/charts/softwar...

160K and counting.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#522

Post by Frogolocalypse »

mikefallen wrote: post #517
Frogolocalypse wrote: post #472

Earlier quoted context omitted.

> The main point here is that there's absolutely nothing innovative about BTC anymore That demonstrates a fundamental lack of understanding of what makes bitcoin valuable, and what separates it from all other competitors. Bitcoin node decentralization is what keeps it censorship resistant, and in bitcoin node decentralization, it is ahead of any and all competitors. It likely has more fully validating nodes than all…

150k full nodes source?

http://luke.dashjr.org/programs/bitcoin/files/charts/softwar...

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#523

Post by Frogolocalypse »

harryh wrote: post #327
garybro wrote: post #303

I've made about $110k profit this year in crypto on a $21k investment earlier this year, and I think this is all a giant bubble. I was at my parents' house for Thanksgiving and a commercial with Ron Paul talking about Bitcoin came on, which coincided with around the time it went to $10k, and it hit me really hard that this isn't going to last forever (and probably will hurt sooner rather than later). I liquidated eve…

Do you feel any guilt that your profits are at the expense of naive speculators who "have no business investing in it are taking on debt to do so, with no clear exit strategy" ?

They shouldn't be investing in unregulated markets.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#524

Post by Frogolocalypse »

taysic wrote: post #501
zMiller wrote: post #313

Earlier quoted context omitted.

Spot on. Use as currency for Bitcoin (and other coin networks) is still in it's infancy and cannot scale the way it needs to should it want to replace fiat. The important distinction I would draw though that stores of value have historically been cumbersome to transport and liquidate, Bitcoin solves that problem in a very good way. I feel it's important to also address this 20$ bitcoin fee meme that seems to be going…

According to this fee estimator https://estimatefee.com/ , 3 hours is an $11 fee currently.

If you choose an arbitrary '3 hours' you can make that fee anything. Any transaction of 50c for a standard fee until one week ago (and they'll clear too) will have been committed to the blockchain.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#525

Post by Frogolocalypse »

matte_black wrote: post #184
brentm wrote: post #174

Earlier quoted context omitted.

Well one thing is Litecoin has a much larger supply (3.24x according to Coincap). In terms of market cap & supply as of today a $15k Litecoin is equivalent to ~$50k Bitcoin. The market cap of Litecoin alone would be 0.84 Trillion. It's possible I suppose but I think you'd need some pretty serious institutional buying (or gaming of the system which only lasts so long).

I think that would put a price target of Litecoin at somewhere around $4000-$5000. Not bad considering it's current price today.

Until people actually run nodes to the same distribution of bitcoin, it will always be a reduced security option, and therefore won't command the same price.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#526

Post by Frogolocalypse »

zik wrote: post #497
geofft wrote: post #424

Earlier quoted context omitted.

Why are Litecoin's transaction fees multiple orders of magnitude smaller than Bitcoin's? Is this a result of genuinely better technical decisions than in Litecoin (mining is cheaper because it's less hardware-friendly, blocks are generated more quickly) or just lower transaction volume / demand for transactions because it's less well-known? That is, if Bitcoin somehow implodes tomorrow and everyone moves to Litecoin,…

Bitcoin's pretty broken at the moment due to some bad decisions by the development team. All other cryptocurrencies have very low fees.

The price of bitcoin disagrees with your assessment.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#527

Post by jgrowl »

garybro wrote: post #303

I've made about $110k profit this year in crypto on a $21k investment earlier this year, and I think this is all a giant bubble. I was at my parents' house for Thanksgiving and a commercial with Ron Paul talking about Bitcoin came on, which coincided with around the time it went to $10k, and it hit me really hard that this isn't going to last forever (and probably will hurt sooner rather than later). I liquidated eve…

I had the exact same experience visiting family over Thanksgiving. They watched foxnews the entire time and I remember seeing that Ron Paul commercial and also another one that was throwing out buzzwords and phrases like "Built with blockchain technology."

I was just like wow, this is going to be pulling in a lot of people that have no idea what they are doing. Everything seems irrational. Who knows though.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#528

Post by qwerty456127 »

nielsbot wrote: post #68
qwerty456127 wrote: post #63

I've just went by the link (never visited that site before) and it says "THIS REQUEST HAS BEEN RATE LIMITED You're making too many requests to our servers from this computer..." immediately.

Are you checking from your office? Big company?

No. From home. And every time I try - I see this error message only.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#529

Post by dewyatt »

junk_f00d wrote: post #293
Helloworldboy wrote: post #218

Earlier quoted context omitted.

because it's strictly better than BTC. Faster and cheaper transactions.

The tech is identical, it's simply used less than BTC so doesn't face the same stress of scaling.

The tech is not identical. Litecoin uses Scrypt and has shorter block times. There may be other differences too.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#530

Post by wlib »

piyush_soni wrote: post #507
wallace_f wrote: post #474

Earlier quoted context omitted.

And looking at this fundamental value, other cryptocurrencies have arguable superceded it in terms of better tech/efficiency, so the value seems incredibly hard to justify.

Just curious, which ones in your opinion are better tech/efficiency?

Look into DASH, it has a fundamentally different architecture than bitcoin. The biggest pros are instantSend, privateSend, and the DAO (A governance system).
Post reply on HN