Bitcoin [BTC] shines as digital gold and Ethereum [ETH] may work as DeFi platform, says former Coinbase CTO

2019-5-15 21:00

Balaji S. Srinivasan, former CTO of Coinbase, spoke about the bet that was placed between Jimmy Song, a well-known Bitcoin proponent and Joseph Lubin, Co-founder of Ethereum. In a short Twitter thread, the Co-founder of Earn stated that Bitcoin “shined as a digital gold,” instead of a payment rail, and that Etheruem “may work” as a DeFi platform in the future. He said,

“At the end it makes the same point I would have made. The Horowitz/Salmon bet was on Bitcoin as a payment rail, but it really shined as digital gold. The Song/Lubin bet is on Ethereum for social/mobile-ish DApps, but it may work primarily as a defi platform.”

The bet that was initially placed during Consensus between the two well-known influencers, involving over $500k in BTC and ETH. A report by CoinDesk stated that Song would be required to pay 810.8 ETH to Joseph Lubin, if Ethereum stood tall over the next four years and if it went the other way, then Lubin would have to pay 69.74 BTC to Song.

Additionally, for Lubin to win 810.8 ETH, Ethereum would be required to fulfill certain terms and conditions over the next four years, up to and including May 23, 2023. The three critical conditions are: First, there should be 15 unique developer applications built on Ethereum; Second, there should be atleast 10,000 active daily users and third, there should be atleast 100,000 active monthly users for six consecutive months.

In a later tweet, Balaji explained,

“That is, Bitcoin wasn’t primarily about Paypal-style payment volume. It was about market cap & store of value, concepts outside PayPal. Ethereum similarly may not be about Facebook-style DAUs, but concepts like “ETH locked in defi” for decentralized interest, loans, derivatives.”

Why might DAUs be a non-ideal metric to measure Ethereum? Think about a VC. They may send 50 wires a year. I guess they are a “weekly active user” of the ACH system. But it’s the dollar value of the investments that’s more important than the frequency of use.

— Balaji S. Srinivasan (@balajis) May 15, 2019

The post Bitcoin [BTC] shines as digital gold and Ethereum [ETH] may work as DeFi platform, says former Coinbase CTO appeared first on AMBCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67034.5 (+0.21%)
Объем 24H $24.527b
Изменеия 24h: 1.33 %, 7d: 10.25 %
Cегодня L: $66739 - H: $67071.97
Капитализация $1320.573b Rank 1
Цена в час новости $ 7180.35 (833.58%)

bitcoin coinbase cto work former may digital

Источник: ambcrypto.com

bitcoin coinbase → Результатов: 126


Coinbase decides on Bitcoin Lightning Network integration, promising faster transactions

Coinbase CEO Brian Armstrong said the exchange has decided to integrate the Bitcoin (BTC)  Lightning Network (LN) after several months of questioning by the crypto community. In a Sept. 13 post on X (formerly Twitter), Armstrong stated that the exchange was willing to do its part in enabling faster and cheaper Bitcoin transactions because the […] The post Coinbase decides on Bitcoin Lightning Network integration, promising faster transactions appeared first on CryptoSlate.

2023-9-13 14:01


Фото:

Coinbase processed Tesla’s Bitcoin purchase, more Fortune 500 companies rumored to be under its belt

Leading Cryptocurrency Exchange Coinbase has been credited with the facilitation of Tesla’s $1. 5 billion Bitcoin purchase, which has since set a new standard for newcomers, while also singlehandedly driving Bitcoin’s price upward, and adding to the bullish market sentiment shared by members of the Bitcoin community.

2021-2-18 14:26


Coinbase to Sponsor Bitcoin Developers to Help the Grow & Maintain the BTC Protocol

“Excited to be supporting more Bitcoin protocol development. This is a great start, but hopefully, we can expand this program over time,” said Coinbase CEO Brian Armstrong as the exchange announced that it is sponsoring Bitcoin developers who contribute directly to the Bitcoin Core codebase or closely associated Bitcoin projects.

2020-10-16 20:58


Фото:

60% of Coinbase’s Customers Buy Bitcoin First Before Moving into Altcoins

Investors who purchase their first digital asset on Coinbase buy Bitcoin, but a majority then move on to purchase other cryptocurrencies, a report by the US-based crypto exchange shows Bitcoin provides a gateway to the altcoin market for a majority of investors who buy Bitcoin as their first digital asset, Coinbase has revealed in a […] The post 60% of Coinbase’s Customers Buy Bitcoin First Before Moving into Altcoins appeared first on Coinjournal.

2020-5-15 12:47


Фото:

Coinbase предстанет перед судом из-за халатности при запуске торгов Bitcoin Cash в 2017 году

Судья окружного суда в Сан-Франциско Винс Чхабрия сообщил о начале производства в отношении криптовалютной биржи Coinbase, которая «проявила халатность и некомпетентность» в процессе запуска торгов с монетой Bitcoin Cash.

2019-8-8 20:44


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Eclipse Labs appoints new CEO after investors ‘urge’ founder to resign

Eclipse Labs replaced Neel Somani with Vijay Chetty as the firm's new CEO Investors, led by Hack VC, could have played a role in the change in management  Eclipse Labs has replaced its founThe post Eclipse Labs appoints new CEO after investors ‘urge’ founder to resign appeared first on AMBCrypto.

Is Arbitrum's latest record good news for ARB's price? Metrics say...

Arbitrum active addresses registered figures of 900,000 for consecutive days ARB's market trend has continued to fall though Arbitrum is in the news today after it seemed to solidify its posThe post Is Arbitrum's latest record good news for ARB's price? Metrics say... appeared first on AMBCrypto.

XRP whales add $55 million, but the price falls again - What's happening?

XRP whales have increased their accumulation of the token over the last 14 days However, this failed to affect the altcoin's price positively XRP's price has maintained a downtrend on the chThe post XRP whales add $55 million, but the price falls again - What's happening? appeared first on AMBCrypto.

Countdown to Notcoin's Binance listing - Will NOT and TON profit from it?

78% of NOT’s total supply will be allocated to miners  TON turned bearish as its price dropped by more than 3.5% The wait for the much-hyped Notcoin [NOT] launch is about to end soon. As The post Countdown to Notcoin's Binance listing - Will NOT and TON profit from it? appeared first on AMBCrypto.