Coinbase Commerce drops Bitcoin for payments!

[bitcoinStorage]

Coinbase says they will stick to ERC20 tokens from now on.

Insane!

It seems they don't like paying $$$ to move their btc deposits or could it be a surveilance move?

Though, it seems they will be working on L2 PlAtforms like Lightning Network... aka working on platforms where users have less freedom at the cost of "security"

 

[alurosu]

Coinbase says they will stick to ERC20 tokens from now on.

Ethereum is king for now. Can't say i like it because it's still expensive and hard to navigate through all the layers

It seems they don't like paying $$$ to move their btc deposits

I think this is most likely the case

aka working on platforms where users have less freedom at the cost of "security"

Are you insinuating a public ledger like Bitcoin with a majority of mining done by big industrial farms and 100% of transactions traced by bots is your freedom? Ok then

 

[Deleted member 1816462]

I heard that they are now ONLY accepting Monero payments.... mmm

 

[Kenobii]

Their BTC fee has been always insanely high.

 

[bitcoinStorage]

Are you insinuating a public ledger like Bitcoin with a majority of mining done by big industrial farms and 100% of transactions traced by bots is your freedom? Ok then

nah, im saying that in eth, getting your tokens is a lot easier than in btc.

for example, tether can freeze your usdt at their will.
usdc tokens can also be frozen at will
pyusd as well and so on

at least bitcoin they can't move it without the key haha

the point is they are moving to chains where they can do bad stuff a lot easier :/

 

[vCREN]

Coinbase says they will stick to ERC20 tokens from now on.

Insane!

It seems they don't like paying $$$ to move their btc deposits or could it be a surveilance move?

Though, it seems they will be working on L2 PlAtforms like Lightning Network... aka working on platforms where users have less freedom at the cost of "security"

ERC20 are usually a lot more costly to move around than BTC, especially since BTC allows UTXO’s where you batch sendto a bunch of wallets within a single transaction. Maybe due to TX speed? ETH is a lot quicker in terms of blocks than BTC.

 

[lotsofmoney]

Coinbase says they will stick to ERC20 tokens from now on.

Insane!

It seems they don't like paying $$$ to move their btc deposits or could it be a surveilance move?

Though, it seems they will be working on L2 PlAtforms like Lightning Network... aka working on platforms where users have less freedom at the cost of "security"

It might be because of high fees on bitcoin and this users are shifting to other options. Since there are no users for BTC, they have disabled it.

 

[alonelywriter]

May be that's why ETH is pumping.

 

[seomaster5]

Can this be a good time to buy more ETH ?

 

[SeoIsArt]

Move away from coinbase

 

[bitcoinStorage]

May be that's why ETH is pumping.

maybe getting rid of btc and move to eth?

 

[Seo Captain]

May be that's why ETH is pumping.

Yes, that is one of the reasons. ETH can grow faster than BTC if there are more news like this.