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/btc was created to foster and support free and open Bitcoin discussion about cryptocurrency, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top Bitcoin and cryptocurrency leaders. Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. Learn more about Bitcoin, Bitcoin Cash, cryptocurrency, and more.
Help me understand bitcoin's place in a Segwit LTC world
I'm posting this here because it was downvoted in /btc . Hopefully you fine folks can help me understand. I've been a loyal and passionate bitcoin believer ever since I read Satoshi's whitepaper many years ago. Furthermore, I believe it was originally built to be used as both a store of value and a functional electronic cash which facilitates even the smallest of transactions. In other words, i'm a big blocker through and through. That being said, I'm having trouble wrapping my head around Bitcoin's future with respect to Litecoin given the current development climate. Litecoin set out to be "the silver to Bitcoin's gold" and was initially close to an exact clone of Bitcoin. Because of the similar codebase, over the years Litecoin has been able to piggyback on the development progress of the bitcoin client(s). Both coins have the same value proposition. Maybe one historically has been more successful but ultimately, they are trying to solve the same problems. Regardless of your opinion of Segwit (or it's proposed implementation method in Bitcoin), it does provide a relative improvement on scaleability. Even before Segwit is activated, Litecoin solves almost every problem Bitcoin solves solve but better (cheaper and faster). The only thing Bitcoin is better at is security (higher hash rate and node counts). Since network hash rate and node count both follow price, I dismiss this advantage because it's going to be gone as soon as Litecoin gets an influx of investment. Given this and the fact that Segwit has now activated on Litecoin, why is it still unfathomable that Litecoin could ever have a higher market cap than Bitcoin? Even most Litecoiners seem to agree that this will never happen. I would like someone to explain to me why. The only argument I can think of is that Bitcoin's more secure network is a big enough advantage that it will always be chosen over Litecoin. I don't believe that though. I believe it even less in the event of a BU/Core split. What am I missing here? TLDR: Convince this Bitcoin big blocker that Litecoin's progress wont result in them reaching a higher market cap than Bitcoin
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