by Tyler Durden Whether it is just a curious coincidence or not, cryptocurrencies are crashing along with FANG stocks this morning... Earlier statements about the Ethereum network running slow due to extremely heavy activity appear to have taken their toll on one major exchange...And Bitcoin is tracking FANG stocks lower (down around 13% this morning)... This is the biggest drop since January 2015 And Ethereum is down over 15%...after tagging $400 earlier last night Some context however shows this 15% plunge merely drops Ether to 2-day lows...One of our objectives at Coinbase is to add as many funding mechanisms as possible to make exchanging digital currency easy.As a step in that direction, Coinbase now accepts PayPal (for bitcoin sells) and credit cards (for bitcoin buys).Thousands of Coinbase users use PayPal for their fiat currency transactions around the world.Through this integration, Coinbase users are now able to sell BTC and have their USD funds deposited to a PayPal wallet.

To start, we’re offering PayPal cash-out for US users only.In the future, we hope to add support for other countries, and to support buys through PayPal as well.As you may recall, we launched debit card buys a few months ago.With the addition of credit card support, we are getting closer to a world where customers can purchase bitcoin with any card in their wallet.Both services are currently in beta. or tap “Settings” and then “Payment Methods” on iOS or Android.Your feedback is important to us.Feel free to reach out to us at our Community Forum.If you don’t have a Coinbase account, sign up here!Brian Armstrong, the CEO of Coinbase, recently hosted a firechat with Reddit CEO Steve Huffman, to discuss the seriousness of the censorship in /r/Bitcoin, a subreddit moderated and curated by Bitcointalk administrator Theymos.The long-lasting feud between Armstrong and Theymos began on June 6, 2015, when Theymos threatened to ban Coinbase and any Coinbase related content from /r/Bitcoin, for promoting a project called Bitcoin XT, a hard fork designed to increase the Bitcoin block size.

Theymos says: “ and/or switches all of its full nodes to BIP 101 software, then Coinbase is no longer using the Bitcoin currency, and it doesn't belong on /r/Bitcoin.” Shortly after the announcement from Theymos, Bitcoin angel investor Roger Ver a competing subreddit /r/btc, receiving support from Coinbase and other startups in the community.Promoting minimal censorship and freedom of speech, Ver’s subreddit gained massive momentum and immediately became one of the major online Bitcoin forums in the community.Since the creation of /r/btc, the supporters of Armstrong and Ver continuously criticized /r/Bitcoin and the strict moderation from Theymos, stating that the largest and most popular Bitcoin forum in the entire community is discouraging—as explained by Roger Ver— “free and vigorous debate.” Explanation of Theymos At each presented criticism, Theymos emphasized that the moderators of /r/Bitcoin don’t receive compensation nor are involved with Bitcoin companies.

Thus, Theymos strongly believes the /r/Bitcoin’s moderators’ curation of content is best for the community.While some, including Armstrong, disagree, a moderator cannot be banned by the Reddit Administrators for censorship of content.If Theymos or other moderators engage in actions which break important rules or moddiquettes of Reddit, they, the Reddit Administrator, which Reddit CEO Steve Huffman describes as the federal government of all subreddits, can consider banishing moderators from their subreddits.apple pay bitcoin killerThrough his efforts to ban Theymos from /r/Bitcoin, Armstrong also received heavy criticism from the community for contradicting his own arguments.evga bitcoinAt this moment, the Reddit administration team and its CEO don’t plan to ban theymos nor take care of the level of curation ongoing on /r/Bitcoin.bitcoin billionaire music

Brian Armstrong, CEO of Bitcoin wallet service and exchange , plans a code update to allow for bigger blocks in the second week of December, and has indicated he prefers .This makes Coinbase the latest Bitcoin industry heavyweight to endorse the proposal as adopted by alternative Bitcoin implementation , although the company is still open to other solutions.Armstrong recently sent out a in support of a block-size increase, in which he stated the intention to upgrade his company's code by December.ethereum chart 2014It was not clear, however, whether these tweets indicated support for BIP 101, the block-increase proposal that is programmed to increase the maximum block size eightfold to 8MB, doubling each other year until it reaches 8GB.reddit instant bitcoinWhile BIP 101 is endorsed by leading companies in the Bitcoin space, other proposals have gathered , too.bitcoin wallet label

Speaking to Bitcoin Magazine, Armstrong confirmed that Coinbase plans to upgrade its code to allow for bigger blocks in December of this year.And while the preferred solution is not set in stone, Coinbase currently favors BIP 101.“We are open to evaluating all proposals which increase the block size.But we do plan to upgrade around the second week of December, so this will require working solutions in code by then.The only one I'm aware of which currently has working code is BIP 101,” Armstrong said.Moreover, Armstrong indicated that he'd like the Bitcoin industry to switch to Bitcoin XT, the alternative Bitcoin implementation run by Mike Hearn and Gavin Andresen that implemented BIP 101 in August of this year.“In my view, Bitcoin XT is the best option I've seen so far.Not just because it has working code, but also because it has a simple implementation that is easy to understand, the block-size increases seem about right to me, and I have confidence in the people behind the project.

My preference at this point would be to have Gavin step up as the final decision-maker on Bitcoin XT, and have the industry move to that solution with help from Mike Hearn, Jeff Garzik and others that wish to do so.” The CEO believes an upgrade is urgently needed in order for the Bitcoin network to handle a sudden increase of Bitcoin usage.As such, Armstrong emphasized that Coinbase will not wait for consensus to form among the Bitcoin development community.“We will upgrade regardless of whether Bitcoin Core is updated,” Armstrong said.“Capacity planning is something you should try to get ahead of.Growth can be unpredictable, and I want to remove all blockers to Bitcoin's success.I've been disappointed to see how slow Bitcoin Core has moved on this issue, and we're open to switching forks.” In an published in September, a selection of prominent Bitcoin developers urged the Bitcoin community to take the time to evaluate proposals that have been put forward and agree on the best solutions via the consensus-building process.

In particular, many of these developers argue that a switch to bigger blocks represents a big, perhaps even existential .Armstrong told Bitcoin Magazine that he is aware of the potential risks of increasing the block-size limit, but said he believes these are being overstated.“When people offer opinions on things like this, it's important to consider their qualifications.In my case, I've implemented a Bitcoin node from scratch.I created the first version of the one Coinbase uses in production today, and I've helped us scale this bitcoin node from 0 to 2.7 million customers.So I've learned quite a lot about scaling a Bitcoin node during that time.” Armstrong explained.“It is a difficult judgment call, but I believe it is low enough risk, and the upside is considerable enough to make it worth it.” Other leading Bitcoin companies published an in August in which they vowed to upgrade their code to increase the maximum block size.The letter expressed support for BIP 101, although three have since indicated that alternative block increase proposals will be considered as well.