I posted this same question over on Reddit, and got back so much useful information that I thought it would be beneficial to share it over here in the Steemit community as well.
But first, a little back story to get things into perspective:
I am a total noob to the crypto-currency world, and I'm a bit of a knowledge hound. So before going balls-deep into a token or coin, I first needed to understand what the hell was going on in the first place.
I had lots, and lots... and lots of questions, and thanks to Reddit, and hopefully you guys now as well, all my questions should have detailed and informative answers going forward.
My first target was Bitcoin, and I really didn't understand how such a so called "decentralized" entity could have so many self-proclaimed leaders at the helm, trying to pick the damn thing apart, and who could eventually destroy the currency as we know it as well.
When I first started hearing about Bitcoin, I though it was this magical computer currency, that no one, and I mean no one, not even the governments of the world coould touch, and then come to find out... any swinging dick with a mining rig has a say on how to fuck the damn thing up... which is unacceptable in my opinion.
So, with that... I took to Reddit for answers, and now here as well, since you people seem to be up on your crypto-currency game... although... a lot of you seem like total fucking fan boys, so please, if you're a fan boy or girl and can never accept the fact that some of these things have flaws and need to be pointed out... please refrain from spewing your venom my way... this is a no bullshit zone my friend... no pumping and dumping allowed!
Now, on with the debate:
If Bitcoin survives the rape, will Litecoin be rendered useless, and if Bitcoin dies a horrible death after the rape... will Litecoin be the new go to coin? Oh, and what if China, the shadiest country in the world when it comes to currency manipulation, continues its dominance over Bitcoin... will that scare the rest of the world away from it as well?
Let's get to it people, and as an added bonus, I will slowly add some of the best and brightest replies from Reddit to give you guys and gals some nuggets to chew on overtime.
Reddit User Replies:
"Litecoin is a honest coin, but it essentially brings nothing new. It's Bitcoin with some minor twists. Some other cryptos arguably come with additional, useful features, but Litecoin does not."
"Fact: Satoshi went up to Mount Sinai, and came back with the 10 articles of Bitcoin carved in stone. 'Thou shall not hard-fork the protocol', read the first tablet."
"Far from it, even with segwit BTC transaction capacity doesn't even come close to LTC.
Just to put it into perspective LTC right now can handle all BTC and ETH transactions COMBINED.
This "fix" is not going to magically get rid of BTC congestion and high fees, maybe when lightning gets released but we're a long way away till that happens, people are realising you can send LTC much faster and far cheaper than BTC and that will still be the case after segwit.
There will always be a use case scenario for a well established, highly secure, cheaper and faster coin.
I love BTC, it's what got me into crypto but we have to face facts it can't be all things to everyone and that's fine beacasue LTC is right there to take up the slack."
"Won't BTC continue to be a battleground? Imagine how toxic that community will become when one side loses. No matter what happens egos will continue to cause problems there."
"Lol no. With atomic swapping bitcoin can focus on what bitcoin does: being a store of value. While litecoin can focus on what it does best: buying a cup of coffee."
What do you guys and gals think will happen in the coming months? Are you all in, or all out? I'm so curious, and think this market is still so hot to make tons of money, but do believe we should do it wisely.
If you'd like to read all of the replies so far, please feel free to click here to head on over to my original Reddit post.
