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.

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bitcoin coinbase cto work former may digital

Источник: ambcrypto.com

bitcoin coinbase → Результатов: 126


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2023-9-13 14:01


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

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2020-10-16 20:58


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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


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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


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