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/biz/ - Business & Finance

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54928462 No.54928462 [Reply] [Original]

The challenge with high transaction fees isn’t so much the fee itself as it is the fee in relation to the total amount being sent. As fees quickly rise, they tend to become a much larger percentage of the total transaction value.

From a store of value perspective, higher fees are less of a concern. But from an actual usage perspective (an important element of money), it becomes less practical to send smaller transaction amounts. And by smaller amounts, I’m not referring to just buying a cup of coffee.

During the last bull run, Bitcoin fees soared as high as $50+. And this was before we had wizards, monkeys, and other fun things. If you think fees are high now, what happens during the next run?

Bitcoin is arguably the best store of value in the world. But in order to become less reliant on the fiat system, including on-ramps and off-ramps that can be shut down at will, money also needs to be used.

As a medium of exchange, Litecoin offers the same important characteristics of money that Bitcoin offers, along with the added benefit in having fees low enough to buy a cup of coffee, and a basic level of financial privacy that’s essential to sound money. A level of privacy that even Bitcoin has yet to offer.

All things being considered, in terms of using money for it’s intended purposes, Litecoin’s characteristics make it some of the best money in the world.

>> No.54928565

tl;dr

litecoin is just bitcoin with no users
it can't scale, and if it tries to, it just creates a worse version of bitcoin's identical scaling solutions

it's dead software

>> No.54928607

>>54928565
maybe you should read then because nothing was said about replacing bitcoin

>> No.54928617

If it goes back sub $50 I'll go all in

>> No.54928682
File: 101 KB, 690x588, litecoin boomer.jpg [View same] [iqdb] [saucenao] [google]
54928682

>>54928462

An intelligent post on /biz/ for once. I can tell you're an oldfag, very based.

>> No.54928718

>>54928607
everyone knows nothing can materially replace bitcoin, the problem with litecoin is unlike other networks with differing utilities, litecoin can't even complement bitcoin

it's redundant, unnecessary. a distraction.
and trending to zero since 2013

>> No.54929615
File: 106 KB, 1170x1173, IMG_5955.jpg [View same] [iqdb] [saucenao] [google]
54929615

>>54928462

>> No.54929759

Are atomic swaps implemented yet?

>> No.54930116

>>54929759
https://medium.com/beam-mw/mimblewimble-atomic-swap-btc-ltc-241330e8d32c
https://theliteschool.com/lsc/litecoin-technology/the-lightning-network-part-3

>> No.54931094

>>54928617
This

>> No.54931406

>>54928565
>>54928718
Unironically litecoin is the only coin have ever used to buy actual stuff and transact with friends.
Fees are a huge deal for the majority of users but are somehow not taken seriously at all by bitcoiners and ethertards.

>> No.54933465

>>54931406
bump

>> No.54933550

>>54931406
this. lmao at bitcoin maxis. normally i like xmr but most shops dont accept it.

>> No.54933566
File: 18 KB, 243x208, 168381632964585330.jpg [View same] [iqdb] [saucenao] [google]
54933566

Yup, I like the coin *sips*

>> No.54933643

>>54928462
I find it so funny that, only just last year, people were wobbling and cobbling over Litecoin being a "dead project". Then it did over 700% gains.

Litechads stay winning