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That's the brilliance of Coinbase .. it's not tied to BTC, in fact the creator of Litecoin is part of their team now. They are building an infrastructure layer
by argumentum 13y ago
That's the brilliance of Coinbase .. it's not tied to BTC, in fact the creator of Litecoin is part of their team now. They are building an infrastructure layer for cryptocurrency, period, and they seem far ahead of any competitors atm.
- infruset 13y agoCould you expand? It seems they only handle bitcoin on their main page
- infruset 13y agowhy the downvote?
- simbolit 13y agodo you really think that in the hypothetical situation of a major bitcoin crash litecoin will still stand? i think this highly unlikely. imho all the altcoins derive their value from the faith of people in bitcoin and by association in crypto currencies. the big one fails, all of them fail.
- gnaritas 13y agoNo. The point of some of the alt currencies is to address perceived weaknesses in bitcoin, like deflation, or wasted energy in mining for example. Bitcoin created a market but that market will outlive bitcoin if it fails. Now litecoin is basically a clone so it'll fall with bitcoin, there's nothing interesting about it, but others like peercoin or primecoin are substantially different in ways that may matter greatly.
- SkyMarshal 13y agoThe VC's are looking to invest in people selling shovels, not panning for gold/speculating on price. They've built cryptocurrencies' naturally high volatility into their expectations, and are looking for ROI on service fees.
- oleganza 13y agoIf you invest assuming you'll sell 100000 shovels next year and gold rush is over tomorrow, you lost a lot of money. Selling shovels during the gold rush is not something much safer than drilling for gold itself. It is safer, but not a 100% certain business.