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This man spends way too much time on Twitter and not enough time learning the rules and regulations of the industry the company he leads participates in.

by teg4n_ 5y ago

randomhodler84 5y ago
The mission is off track. He should stop listing garbage and stick to Bitcoin. Crap like that shiba inu token are absolute scams, like most EVM tokens. They do nothing, add nothing, and trading them on chain just enriches the miners, or off chain, the exchange. Say what you like about dogecoin, at least it’s a long standing L1 blockchain with developers and history/transactions.
- arcticbull 5y ago
  They're all basically the same. All the arguments you have against anything not-bitcoin apply to bitcoin except bitcoin is older and way more power intensive. Doge is a better currency for a lot of reasons. Also its funny. List one, may as well list 'em all.
  - randomhodler84 5y ago
    They aren’t the same. I’m not knocking dogecoin — it’s a real Nakamoto blockchain, a real working product. I’d rather folks bought BTC but hey, any software fork of Satoshi client is better than the scamfactory enabled by Eth.
    - qeternity 5y ago
      > I’d rather folks bought BTC Why? Presumably because you're long BTC. With all due respect, you make a lot of handwavy comments about ERC-20 scams and I agree with you, but aside from a highly speculative investment, BTC is nothing. It failed as a currency. It failed as a unit of account. Now the narrative has shifted to "store of value" which only anyone without an understanding of what that means could say. What does BTC do that DOGE doesn't do? Or any other scam coin? It's all speculation, you have happen to find one more acceptable (and it so happens the one you're probably invested in).
      - randomhodler84 5y ago
        It’s the energy. Energy usage means security. ArcticBull will argue it’s bad, I’ll argue it’s the best thing ever. Follow the energy. Why has it failed? Works fine for me and many others…
        arcticbull 5y ago
        I'd argue that it has no negative feedback mechanism. More security isn't always useful. There's a reason you don't wear 25 seatbelts in a car or drive a tank to work. At some point more security is ineffective, and then eventually detrimental. Yes, more energy is more security in this case - which of course you can obtain in alternative ways. But so is driving a tank. So is living in bubble wrap in a missile silo in the middle of an open field. We don't do those things, though, because we have negative feedback mechanisms. Bitcoin does these things (analogous versions) because it doesn't. And as for why it's failed as an L1, it set out to be a digital cash. 2-3tx/sec isn't enough to support a mid-sized Costco or a flea market let alone a global currency. 1 transaction per person on earth today would take over 75 years and cost 1/3 of a trillion dollars, and 100% of the remaining block reward. It's like a soviet-era phone line - better put in your order early, I guess.
        randomhodler84 5y ago
        I don’t think a negative feedback cycle could exist that doesn’t introduce a huge vulnerability to a Nakamoto consensus. It is the pure externality of the metric (as opposed to chain balances or state) that makes it work in a trustless and censorship resistant way. How does one even decide a reasonable “limit” to hash rate. I want sufficient security such that when new power generation tech comes online it does not threaten the history of the chain. If we have to drive a tank to work, ok, better than getting hit by stray rifle fire on the highway. I think the reality is no L1 can scale to digital cash for the everyone on planet to allow L1 txs. we need more layers and more innovation in transaction aggregation and transaction primitives, such as covenants.
        5y ago
- hnxs 5y ago
  “sir this is a casino”
  - randomhodler84 5y ago
    Right. It’s a shame that the CB mission went from decentralizing and empowering individuals with BTC to scamming and gambling on shittokens in just a few years.
    - toomuchtodo 5y ago
      You can’t convince someone of something when their enormous wealth depends on them not believing or understanding (not Coinbase or Brian Armstrong specific, general observation). People can and do perform Olympic level mental gymnastics to justify their belief systems.
- metalliqaz 5y ago
  They are in on it. Listing it on the exchange automatically causes a surge in value, what wouldn't you know it, the exchange had just bought a whole lot of coins in preparation.
Melting_Harps 5y ago
> This man spends way too much time on Twitter and not enough time learning the rules and regulations of the industry the company he leads participates in. I can't think of a more hated CEO in the Cryptospace since Jihan Wu, who also spent quite a lot of time on social media/Twitter lambasting his users and detractors. A few years later he would be ousted by the CCP from his own company and was licking his wounds from his failed attempt to hi-jack Bitcoin after having loss majority hashing power and near exclusive manufacturer of miners. (Maybe Mark Karpeles, but even then he served his time in prison and after having his life ruined by the Japanese legal system and most just feel bad for the guy.) To be honest, Strike is going to disrupt Coinbase business model sooner than later and the valuation of Coinbase is the very definition of froth. In all seriousness, I can't wait to see Coinbase's and Armstrong's collective demise,
NelsonMinar 5y ago
My favorite thing is when he tweets his own ignorance of the regulations of his industry. https://twitter.com/brian_armstrong/status/1435439291715358721 https://twitter.com/brian_armstrong/status/14354392917153587...

This man spends way too much time on Twitter and not enough time learning the rules and regulations of the industry the company he leads participates in.

by teg4n_ 5y ago

This man spends way too much time on Twitter and not enough time learning the rules and regulations of the industry the company he leads participates in.

randomhodler84 5y ago

The mission is off track. He should stop listing garbage and stick to Bitcoin. Crap like that shiba inu token are absolute scams, like most EVM tokens. They do nothing, add nothing, and trading them on chain just enriches the miners, or off chain, the exchange. Say what you like about dogecoin, at least it’s a long standing L1 blockchain with developers and history/transactions.

arcticbull 5y ago
They're all basically the same. All the arguments you have against anything not-bitcoin apply to bitcoin except bitcoin is older and way more power intensive. Doge is a better currency for a lot of reasons. Also its funny. List one, may as well list 'em all.
- randomhodler84 5y ago
  They aren’t the same. I’m not knocking dogecoin — it’s a real Nakamoto blockchain, a real working product. I’d rather folks bought BTC but hey, any software fork of Satoshi client is better than the scamfactory enabled by Eth.
  - qeternity 5y ago
    > I’d rather folks bought BTC Why? Presumably because you're long BTC. With all due respect, you make a lot of handwavy comments about ERC-20 scams and I agree with you, but aside from a highly speculative investment, BTC is nothing. It failed as a currency. It failed as a unit of account. Now the narrative has shifted to "store of value" which only anyone without an understanding of what that means could say. What does BTC do that DOGE doesn't do? Or any other scam coin? It's all speculation, you have happen to find one more acceptable (and it so happens the one you're probably invested in).
    - randomhodler84 5y ago
      It’s the energy. Energy usage means security. ArcticBull will argue it’s bad, I’ll argue it’s the best thing ever. Follow the energy. Why has it failed? Works fine for me and many others…
      - arcticbull 5y ago
        I'd argue that it has no negative feedback mechanism. More security isn't always useful. There's a reason you don't wear 25 seatbelts in a car or drive a tank to work. At some point more security is ineffective, and then eventually detrimental. Yes, more energy is more security in this case - which of course you can obtain in alternative ways. But so is driving a tank. So is living in bubble wrap in a missile silo in the middle of an open field. We don't do those things, though, because we have negative feedback mechanisms. Bitcoin does these things (analogous versions) because it doesn't. And as for why it's failed as an L1, it set out to be a digital cash. 2-3tx/sec isn't enough to support a mid-sized Costco or a flea market let alone a global currency. 1 transaction per person on earth today would take over 75 years and cost 1/3 of a trillion dollars, and 100% of the remaining block reward. It's like a soviet-era phone line - better put in your order early, I guess.
        randomhodler84 5y ago
        I don’t think a negative feedback cycle could exist that doesn’t introduce a huge vulnerability to a Nakamoto consensus. It is the pure externality of the metric (as opposed to chain balances or state) that makes it work in a trustless and censorship resistant way. How does one even decide a reasonable “limit” to hash rate. I want sufficient security such that when new power generation tech comes online it does not threaten the history of the chain. If we have to drive a tank to work, ok, better than getting hit by stray rifle fire on the highway. I think the reality is no L1 can scale to digital cash for the everyone on planet to allow L1 txs. we need more layers and more innovation in transaction aggregation and transaction primitives, such as covenants.
        5y ago
hnxs 5y ago
“sir this is a casino”
- randomhodler84 5y ago
  Right. It’s a shame that the CB mission went from decentralizing and empowering individuals with BTC to scamming and gambling on shittokens in just a few years.
  - toomuchtodo 5y ago
    You can’t convince someone of something when their enormous wealth depends on them not believing or understanding (not Coinbase or Brian Armstrong specific, general observation). People can and do perform Olympic level mental gymnastics to justify their belief systems.
metalliqaz 5y ago
They are in on it. Listing it on the exchange automatically causes a surge in value, what wouldn't you know it, the exchange had just bought a whole lot of coins in preparation.

Melting_Harps 5y ago

> This man spends way too much time on Twitter and not enough time learning the rules and regulations of the industry the company he leads participates in. I can't think of a more hated CEO in the Cryptospace since Jihan Wu, who also spent quite a lot of time on social media/Twitter lambasting his users and detractors. A few years later he would be ousted by the CCP from his own company and was licking his wounds from his failed attempt to hi-jack Bitcoin after having loss majority hashing power and near exclusive manufacturer of miners. (Maybe Mark Karpeles, but even then he served his time in prison and after having his life ruined by the Japanese legal system and most just feel bad for the guy.) To be honest, Strike is going to disrupt Coinbase business model sooner than later and the valuation of Coinbase is the very definition of froth. In all seriousness, I can't wait to see Coinbase's and Armstrong's collective demise,

NelsonMinar 5y ago

My favorite thing is when he tweets his own ignorance of the regulations of his industry. https://twitter.com/brian_armstrong/status/1435439291715358721 https://twitter.com/brian_armstrong/status/14354392917153587...