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.

origin »

Bitcoin (BTC) на Currencies.ru

$ 102347.77 (-0.02%)
Объем 24H $37.996b
Изменеия 24h: -0.55 %, 7d: -1.86 %
Cегодня L: $100265.71 - H: $102795.65
Капитализация $2028.205b Rank 1
Цена в час новости $ 7180.35 (1325.39%)

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


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum's $4K resistance mirrors 2020 levels: Is $6K next?

Mega whales, each holding over 10K ETH, joined the network as WLFi spent $10M on ETH. Once Ethereum closes above $4K, it could reach $5K and then $6K within 6–8 weeks. In the past 24 hourThe post Ethereum's $4K resistance mirrors 2020 levels: Is $6K next? appeared first on AMBCrypto.

XRP price plunges 17% before explosive rebound: Bulls eye $3.2 resistance

The XRP price action was bearish, but on-chain metrics indicated that accumulation was underway. XRP might not succeed in overcoming the $3.2 resistance this week, but was making progress towarThe post XRP price plunges 17% before explosive rebound: Bulls eye $3.2 resistance appeared first on AMBCrypto.

Algorand: Why ALGO needs to flip THIS level to hit $0.60

Algorand crypto surged over 10% in the last 24 hours as of press time and now battles to break the $0.38 level. If ALGO sustains to stay above $0.38, it could break out of the bullish pennant pThe post Algorand: Why ALGO needs to flip THIS level to hit $0.60 appeared first on AMBCrypto.