Armstrong is pretty anti-bitcoin and anti core and pro Ethereum and bitcoin cash.
Most likely they will invest in alt coins companies.
Most likely they will invest in alt coins companies.
Bitcoin should go up when the technology is ready to handle the increase in demand. As it stands right now it's not ready yet.
If people want to store their investments into a much more centralised crypto currency like Eth then they can go ahead. not my problem. I also hear Ripple is pretty good at handling massive scale, same with Doge coin.
Also Coinbase has stated that they want bigger blocks. They have not contributed at all to the development of 2nd layer scaling like LN. They also took too long to finally adopt Segwit.
For Coinbase, it's much easier to increase the blocks. This means they don't have to invest in their own Bitcoin infrastructure to make it more efficient.
https://blog.coinbase.com/introducing-the-coinbase-protocol-...
jimpo is working at coinbase:
In an interview with bloomberg (https://www.bloomberg.com/news/videos/2017-12-07/coinbase-ce...), he didn't say that he thinks Eth is better but it's obvious that they are more bullish towards Eth. They have also built Toshi, a Dapp store for Eth.
Coinbase has become a giant on the back of the work of Bitcoin Core developers and will continue to do so however, they have given NOTHING back to Bitcoin Core. Not a single BIP, they don't sponsor any core developers and they are not helping at all with Lightening Network.
It's very easy for them to sit back and complain about the state of Bitcoin, but Bitcoin is an open source project and they have the money to invest some money into Bitcoin core to improve it. But they rather prefer to pump shit coins and engage in insider trading. In my opinion Armstrong doesn't care about Bitcoin, they are short sighted and don't believe in the long term vision of Bitcoin.
wrong, look here, jimpo is working for coinbase:
https://blog.coinbase.com/what-happened-at-the-satoshi-round...