Quote from: devphp on May 09, 2014, 06:52:39 AM

Quote from: TheMage on May 09, 2014, 12:14:29 AM

Damn, I wish someone would have told me there can be only one store of value before I bought gold and silver. I guess its against the law and was stupid of me! Also see my last response about fiat and market caps and such.

wow, that was a long post, I want to answer only the store-of-value argument, as the rest is not so important.

Gold and silver metals both have unique properties and neither of them can replace each other, that's why both are valued by humanity.

BTC and LTC are the same minus a few insignificant technical details and can perform the same functions, that's why only one can be valued, and all things being equal, the first one that came into market is and will be valued, there is no place for two store of value assets here.

Neither BTC nor LTC fits into the every day currency category though, as they are too rare for that.

Up until modern history silver and gold, while each have unique properties, never had proper applications of those properties. Classically however each have been utilized as a currency for many hundreds of years. As a matter of fact, the values between the two (when used as silver and gold coins) were not that far apart in value at all, certainly no where near the 40-45 times amount that BTC's and LTC's relationship shares. So I really fail to see your initial point at all.

And please explain to me, why you feel they can't share the same market? Gold and Silver (since thats what we are talking about) share the same market just fine. They each can be used in electronics, jewelry, medicine. Really off the top of my head the only thing that I can think of is that silver can be used as silver backing for mirrors (which really can also be replaced with aluminum I think).

So classically they are both used as currency, are currently being used to store value, and between the two they perform nearly all the same functions. If you think I've made an error please show me.

Honestly this thread is starting to turn into nonsense (not just you, most people here). No one can really compose a detailed and valid argument and keep on repeating "DUR Litecoin are badz cause im a bitcoin fan".

I truly hope that every single one of you understand that we are in this together and fighting like this about shitcoin this and shitcoin that does nothing for our mission. Which is to replace fiat with crypto's.