Quote from: youdamushi on May 01, 2017, 09:29:08 AM

Quote from: tokeweed on May 01, 2017, 08:25:20 AM

You all seem to fail to realize that for Litecoin to succeed like how Bitcoin succeeded and by that magnitude, BTC has to die. I know that's sad to hear by some of you but there's no going around it. Bitcoin, as long as it lives, will always be the king.

Oh true.
You can't say the market of cryptos is really big and strong...
It's growing yeah but most people will never use crypto.
It means there is no real place for 2 equally competitive cryptos like there is room enough for dozens of fiat currencies Wink

There is a bit of lack of vision in what you are saying. Most people will probably use crypto without even knowing they are, because they will be so easy to use by the time of general market adoption that it will simply be like any other currency. And in a market situation of negative growth, which will happen because of resource depletion in the world, there is no way that common folk won't embrace currencies that are not closely tied up to their own countries hyperinflating markets. Simply look at how the price of gold and silver explodes in times of economic trouble. And gold and silver is way less liquid in our society than any cryptocurrency.

However, one coin is likely to become the new world coin. And because of their limits in technological design, I doubt either BTC or LTC will be the answer. They simply don't scale well enough to a market. I'm not talking only about number of possible transactions, but mostly because they don't scale their inflation based on volume and market growth. In a rapidly expanding market in either of this coins, the price of the coin thus rises rapidly, making consistent pricing of any product in the coin worthless as it will have to change constantly. It also encourages saving money instead of using them, in the hopes of future high prices.

And guess what, when people get used to using coins in a certain way over a lengthy period of time, they start using them as such. If it's not a currency to start with, it is very hard to turn people into using them even when the value of the coin has stabilised, because there is always the fear of missing out on the price growth.

There are various solutions one could implement here and still preserve market share. Proof of stake is one of them, but it needs to be combined with something that triggers increased inflation during times of extreme growth, to keep the coin usable as a currency, with relatively predictable prices, like seen with most fiat currencies. And there needs to be a moderating factor to the preservation of market share as well, to make sure the coin is falling just slightly in value and that people thus want to use it for commerce rather than a store of wealth.

Both LTC and BTC can as far as I see it, never become anything but a speculative asset and a store of wealth.