Recently, in a podcast interview with Crypto Basic Podcast Round Table, Anthony Lusardi, the US Director of Ethereum Classic Cooperative, opened up about what the recent Coinbase listing of Ethereum Classic means for the platform.
The podcast covered questions from the Ethereum Classic community members.
A Twitter user named Pmcdoogle91 asked:
“Has getting added to Coinbase changed the Ethereum Classic Road Map much? Doesn’t more money mean faster adoption?”
Lusardi in his reply stated:
“In most cases when Coinbase adds a digital currency to its exchange platform, it would mean more money for a lot of projects for decentralized platforms. A lot of projects have well over 50% of their tokens held by either the core development team or a core group of people closely associated with them.”
According to Lusardi, the Coinbase listing has brought in various improvements for Ethereum Classic since the platform develops its own projects, works on it and finds funding sources outside of the token itself. In terms of cash infusion to Ethereum Classic itself, funds will certainly help but Lusardi believes that it is not the sole thing that drives development on the platform.
Lusardi further stated that with a few million dollars, platforms can develop a very solid blockchain system. Organizations do not need the amount of money that is currently being raised through ICOs, he said. However, he also mentioned that companies would gain faster adoption through exposure to a wider user base. He further said:
“We get just a lot more interest from people who are very new to cryptocurrency and I think that’s great, particularly for Ethereum Classic. A lot of people within the cryptocurrency space have already formed their opinion about the cryptocurrency based on what Ethereum Classic looked like in 2016. They haven’t really looked at it the digital asset much in 2018.”
In his conclusion to the question, Lusardi stated that Coinbase adding Ethereum Classic to their platform would definitely improve adoption but not in the way that it would inject its additional money into development or marketing. Lusardi maintained that the ETC teams are more than well-funded so there is no cause for concern on that front.
When he was asked what his opinion was regarding new users looking to invest in cryptocurrencies, Lusardi stated that people should make educated decisions based on research and deliberation. He also said that if people opt to invest in a coin just because it costs less, it would affect them in the long run.
“I am really hoping that they learn more because I am really sick of seeing people buying and investing into things just because they are cheap.”
He further added:
“You could buy these coins when they are far less than a dollar but then good luck selling them once they’re above a dollar because usually there are a couple of people involved in continuously pumping and dumping these things.”