How Bitcoin & Litecoin Could Fail

How Bitcoin & Litecoin Could Fail

One the most influential inventors of a cryptocurrency doesn’t believe that his invention, or Bitcoin for that matter, are necessarily here to stay.

Litecoin was designed by Charlie Lee to be the so-called “silver” to Bitcoin’s “gold” in the popular analogy that compares the digital currency to the precious metal. On Wikipedia, it states that Litecoin was invented, in part, to “process a block every 2.5 minutes, rather than Bitcoin’s 10 minutes, which its developers claim allows for faster transaction confirmations.”

Litecoin has gained in popularity over its history – it was launched on github on October 7, 2011 – with a steady increase in transaction volume over time. Moreover, it is traded on many different exchanges, including Bitfinex, BTC-e, OKCoin, BitBay, Kraken, Yacuna and Huobi, BTC China and OK Coin trade the digital currency.

Charlie Lee, who now focuses on working at Coinbase as Director of Engineering, shared his thoughts with CCN on how Bitcoin, as well as Litecoin, could fail. For the 38-year-old programmer, two scenarios

Read more ... source: TheBitcoinNews


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