Mercer Posted January 18, 2018 Share Posted January 18, 2018 The theory of lte as silver to BTC’s gold seems to be a solid ones for the it’s basically the same code with more coins and faster transaction. Are your resorvations mostly from Charlie Lee’s over all sketchy behavior? On the wallet side do you transfer all your coin to exodus right away or do leave some In apps line Coinbase, Does exodus allow you to look at the value of your portfolio at a glance? I use an iPhone app called crypto pro on my phone. I basically enter in my trades/buys/sells and it shows me what my portfolio looks like in real time without holding any keys/personal info on the phone. I use Exodus's "Eden" wallet, and whatever single use wallets are needed by other coins I hold like Monero, ect. So with Litecoin: When Litecoin first came out, it kind of made sense. BTC blocks took 10 minutes, Litecoins took 2.5 minutes. Charlie Lee also multiplied the supply by 4 times, and switched the hashing algorithm so the ASIC's used to mine bitcoin wouldn't work for Litecoin, all good. Cheap Chiness knockoff at best, back then fees were almost non-existant. No red flags, like a pre mine or unfair distribution, the coins were fairly distributed and no one held a superwhale majority, or enough coins to singlehandedly crash the market. Strike 1 Flash forward to when Charlie Lee is working for coinbase as an engineer. He somehow got Coinbase to list LTC, keep in mind there was almost zero demand for it, while other more useful/reputable coins weren't listed. Charlie Lee tweeted something like "Hey Brian, why don't we add Litecoin to coinbase?", and Brian Armstrong (CEO of Coinbase) tweeted back something like "Sure @charlielee, why not". Pretending to make this decision on twitter was cute. There were credible rumors of insider trading (scooping up as much LTC as possible just before announcing LTC would be listed on Coinbase) then once the data was analysed, it pretty much proved there was, in fact, insider trading. Not a big deal, niggas gotta eat, but insider trading is a shady move when a cryptocurrency's point man is tainted by it. Strike 2 That brings me to the "Litecoin is the Silver to Bitcoin's Gold" mantra. Sure, transactions are cheaper now, and take 25% less time to confirm, but there are other coins out there like Ethereum (15 second blocks) and Dash that make Litecoin look like a joke. So how much merchant adoption do you think Litecoin has achieved? Obviously they're not attempting alchemy here to be a "digital gold" store of value like Bitcoin right? Zero adoption, or efforts made to do so, not a single merchant was partnered with to create a use for Litecoin. Charlie Lee never intended to make good on the promises of digital silver. As it stands right now, the only use for Litecoin is moving crypto out of Coinbase, and onto Binance so you can trade for altcoins with an actual future (BTC fee's are to high). I personally prefer ETH for that. Strike 3 Charle Lee is an outspoken Crypto Superstar, I follow his twitter and it's quite entertaining. He's positioned himself as a "Bitcoin Maximalist" Meaning he trash talks other coins by saying Bitcoin is king, blah blah, blah. Dude made a fucking altcoin himself though. Half the shade he's tried to throw at other coins is unsubstantiated bullshit he parrots from Bitcoin Maximalists. When the scaling debate heated up he positioned himself on the side of bitcoin core, offering to use Litecoin as a live testnet for Segregated Witness, and Lightning. If Segwit x Lightning lives up to the lofty claims by it's supporters, it would basically make Litecoin obsolete. Bitcoin transactions would be instant, fees would be almost non existent. So on the other side of the scaling debate are people who support the BCH hardfork (whom Charlie likes to mock). In my opinion they've solved the scaling debate, and have been catching up to BTC's market cap since forking. "Coincidentally", right before they're listed on Coinbase Dec. 20th, there are signs of insider trading again, someone is scooping up massive amounts of BCH. Also, at the EXACT same time, this motherfucker announces he's cashed out of all his Litecoin holdings. While it's at an all time high. Brazen as fuck. His excuse "I wanted to be able to argue on the internet without people thinking I'm shilling for Litecoin" Yea right. For me, a coin needs more than a catchphrase, it needs at least the potential for a use case. 2 Quote Link to comment Share on other sites More sharing options...
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