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Apply all your arguments 'for' or 'against' Litecoin and apply them to 'Gold' vs. 'Silver'. Imagine if anyone would be willing to accept one versus the other as
by jordanbaucke 13y ago
Apply all your arguments 'for' or 'against' Litecoin and apply them to 'Gold' vs. 'Silver'. Imagine if anyone would be willing to accept one versus the other as a 'store of wealth' (gold/silver that is)
In the end, neither has any 'intrinsic value' in the modern age. Sure we can 'make things' out of gold/silver, but we can't eat it or shoot it at each other: making it more or less as worthless. Yet people "expect" that neither will be worthless in a breakdown of society.
In the end it's all human emotion. If Bitcoin is what they say it is ... than why would it care about 'competition' - the gold in the ground doesn't.
- wnight 13y agoActually, societal breakdown is where bitcoin doesn't work. Without communication all chains are forked. And when networked, with vastly different computing ability left over it'd be incredibly easy for the leader to manipulate.
- dualogy 13y ago> Sure we can 'make things' out of gold/silver, but we can't eat it or shoot it at each other: making it more or less as worthless Or---priceless! Hoarding them historically never (or hardly ever) interfered with anyone's livelihood or industrial endeavours, yet because of their arbitrary ("useless") nature could "absorb" / proxy per-unit any measure of wealth applicable at a given time and place-----which is another valuable property in addition to the usual "scarce, indestructable-but-divisible etc." list of benefits.