When to Trade Litecoin vs Bitcoin (w/ Charlie Lee)

The idea behind litecoin was to improve the efficiency for transactions actually utility of Bitcoin But we made it faster. It’s two and a half minutes for per block as opposed ten minutes for Bitcoin The general idea was to kind of complement Bitcoin. I Saw it as I kind of marketed as silver tip acquaintance code I see like when Bitcoin working side by side and so this is not a competing Cryptocurrency effectively, you actually really do see it as a symbiotic relationship I do But it’s in some sense. It’s competing right? It’s competing for my share. Definitely It’s a different coin. So if people using like coin They may not use Bitcoin. So it does compete a little bit but I I see it more as a complementary What got you interested because I mean you have a very different background than most people first of all You you were not born in the United States or even China as I understand it you came from the Ivory Coast Yeah end up there. Well, my dad was there he had a business so grew up in Ivory Coast He came to the US and when I was a teenager, and did you come with your family at that point or? Okay, actually I came by myself Boarding school in the East Coast. Do you mind my so you went to boarding school on the East Coast? This is a choice of your families or was this something that was interesting important to you? Um, it was a choice of my family. I think the the environment in in Ivory Coast was getting a little bit crazy with overthrowing of the governments and just demonstration on the streets so The decided to send me my brother to boarding school also for a better education and So from boarding school on the East Coast you then went to MIT where you focused in computer science, correct, correct? Yeah, and from MIT you went to the west coast. Yeah, my Dollie been there ever since and and that was roughly 2000. Yeah at the peak of the dot-com boom So you got to live through the peak of the dot-com boom. He began working for Google when I’m 2006 so this would have been right after Google and public then a couple years after a couple years over a 2007 2007. Yeah, okay and When you think about that transition to Google one of the things that Google has encouraged its its employees to do is to take time To focus on personal projects the said where is that where you’re interested in bitcoin and litecoin? Emerged or how did you move from? working on Chrome, which was what are your projects as I understand it Chrome OS actually, yeah to Focusing on crypto. Yeah, I was actually just spending all my time outside of work on cryptocurrencies Yeah, I found out I found about Bitcoin in 2011 and kind of just went down that rabbit hole and Been I guess in it ever since what was the motivation? What cost you what got you interested? What was other than the mathematical challenge of crypto which I know can be exciting for some people? Yeah I kind of I saw Bitcoin as a better version of of gold actually a better form of money then that we’ve ever seen And that just captured my attention. I’ve always understood how gold and silver were used and throughout history as as money and how How we came to the fiat currencies we have today and I just saw Bitcoin as just kind of very similar to gold but better And it could actually replace the current monetary system And I also understood like the the math and the cryptography behind it So just really captured my attention a lot of people became interested in Bitcoin You know the work of Satoshi was published in the immediate aftermath of the global financial crisis Was that a motivating factor for you looking at the current system and saying this didn’t work or yeah, definitely like I saw that for one thing Currently we have a system of money that the government can inflate away, right? they can with quantitative easing x’ and other things they can just print more money and devalues everyone’s currencies and I also saw that because of that you It’s not good to keep your money in Bank right because your money will become less valuable for time so it kind of forces people to To essentially gamble with their money, right? Do you have to put it in a stock market or some other asset class? That doesn’t get devalued or that has potential of making more money and it effectively just keeps the same purchasing power right because of devaluation the US dollar and if you make three five ten percent on your Investment effectively. Just keeping the same purchasing power. So I think it’s just a broken system and with With something like gold or a coin. It’s probably it’s a better form of money. I would say and so are you ambivalent between The idea of an alternative currency in the form of gold versus Bitcoin or like claim or is it? Do you see the need for an electronic version because of the challenges of gold trap? Yeah I mean gold is is great Government can’t devalue it It’s fixed supply, right? But the problem is there’s storage cost and then if you want to transfer it, it’s not easy to transfer gold cross country across borders But something like bitcoin and litecoin it has Pretty much all the good properties of gold except it’s not physical and then you can store it cheaply and you can transfer it Cheaply, it’s just a better form of gold So one of the challenges that I always look at when I look at this idea that it’s a better currency. Mm-hm, right? There’s a school of thought that says currencies are about the efficiency or the ease of use Right, which definitely crypto and human arguments behind things like electronic gold or gold scrip, etc by and large attempt to address Certainly. Our credit based system is is much more associated with the ease and facilitation of transactions But there is a second role which is the role of the state. All right, which has a monopoly At least under current constructs on violence and the enforcement of contracts As it relates to those currencies, how do you think about crypto addressing? those dynamics and and The transition process right in which the state will ultimately have to forfeit that monopoly For my point of view. I don’t think the state needs control of money Right money is just a way where people can transfer and store value, right? There’s no reason why the state needs to have control over it I mean, I’ve only recently have we do we have like the concept of fiat currency where the state has control over it I mean for throughout history, we’ve always used things like gold and silver as as real money as ways to transfer in-store value and I think Bitcoin will help us get back to that better kind of way of people using money You

52 thoughts on “When to Trade Litecoin vs Bitcoin (w/ Charlie Lee)”

  1. Cryptoโ€™s are the play the the globalists want and are pushing us into for one simple reason. THEY ARE FUCKING WORTHLESS

  2. Crypto like Bitcoin is not analogous to gold. It has some advantages over gold, and several weaknesses. One of the advantages is something like transfer-ability. But a big weakness is replace-ability, and the fact that it has no secondary uses. It can actually go to zero if unpopular enough, and gold can't because it has uses outside of just being money.

  3. When there's crypto that comes out in the future, that's superior to Bitcoin and Litecoin in all ways, we'll be calling that digital gold and silver as well. In other words, no, Bitcoin and Litecoin are not analogous to gold and silver. There is no gold and silver 2.0 in the real world.

  4. short LiteCoin, Long BitCoin and Ethereum. Cant trust Charlie after dumping on investors and ZERO commits in over a year..

  5. Bitcoin's price benefits from Idiocracy.
    Assessing voluntary value to an invisible nonentity is most illogical. But after decades of using Government Fiat currency humans have been conditioned to accept, grade and add value to invisible nonentities. When logic is scarce and conditioning complete, the value of nothing can accelerate to very high levels and last for an eternity.

  6. Idk how Iโ€™m subscribed to this channel but the title of this video was enough for me to unsubscribe lmao

  7. My cell phone use physical gold and silver to function. now explain to me how bitcoin and litecoin is going the replace that…

  8. Ultimately, I believe the cryptocurrency that will be adopted as a worldwide currency will be based on physical gold and silver, perhaps like Vaultchain today. To me, Bitcoin is a Cousin of Fiat because it lacks intrinsic value. But its use of Blockchain is revolutionary to bypass Bankers who want to control it. But It needs to be tied to a real asset like precious metals to stabilise it.

  9. Neither are those things
    This guy, Charlie Lee is pulling wool over your eyes
    He cashed out last year, tell you to HODL the useless LTC, while he colludes with bankers to screw people over
    Wake up sheeple… you are being manipulated heavily

  10. Historically silver was used mostly because it was impractical to sub-divide gold into small enough parts for low value transactions. In a digital system, what's the point of "silver" when you can sub-divide the unit into 100 million subunits?

    As to the "speed" argument? Proof-of-work consensus has probabilistic finality. So a 2.5 minute period between blocks only means you have to wait for even more blocks of confirmation to have the same finality guarantees. It's not faster if I want equivalent security and Irreversibility.

    With atomic swaps and lightning my wallet will automatically switch between the best currencies for a transaction? The risk of exchange rate fluctuations just seems like an avoidable inefficiency to me, especially since I can just stay in the most liquid and therefore less volatile unit of value.

    I don't get it, so I don't own it. Then again, I'm not a trader.

  11. Every coin besides Bitcoin is just a scam to make you give up more Bitcoin. Nothing comes close to the decentralization and security.

  12. The analogy is non-sensical. The reason they used different metals of different values was simply to have the ability to make change. Gold coins worked great for settling large debts across oceans. Silver coins worked great for such things as paying wages. But someone going to a grocery store with gold coins was even more problematic than someone going into a convenience store with large bills. The need for making change was even present with the silver coins so they broke dollars into half dollar, quarter and deci (dimes) coins. Even more change making ability was garnered with the nickel and the penny. The PROBLEM with having different metals was that the relative values between them would vary by supply and demand. Who, for example, determined once and for ever that 100 copper coins of a certain weight was worth one silver coin of a certain weight? That practice was basically a case of government price fixing of the prices of silver and copper. A crypto currency is divisible to so many decimal places it never needs any other "coin" in order to make change. Crypto eliminated that need and a transaction returns the "change' back using the very same crypto.

  13. Silver to gold, halving to the moon , 4 to 1 to btc
    What a BS , people still believe in this scam ??
    Even his owner dumped this LTC dump and pump crap …. Imao
    Go buy a REAL silver stop BS people with some garbage fiction
    from Insider

  14. A question to ask. Who guarantees existing fiat money? Is it gold? Or just all governments? What if most the governments defaulted on their debts? Then is it not cryptos can fill the gap while they settle for a final new currencies.

  15. Wow real vision with no real vision lol losers. "Lite coin creator" you fuckin tools. It's litecoin copy and paster or shitecoin derived from the word shite

  16. Real Vision. Love your channel. The so called "experts" you have interviewed in your crypto series are a disservice to what the intention of BitCoin was. I would like to differentiate between the imposter Bitcoin Core BTC that most recognise as Bitcoin and BitCoin Satoshi Vision BSV the BitCoin System following the original plan laid out by Satoshi (Dr.Craig Wright) All others cannot scale, cannot and will not be mass adopted as day to day cash and are in it to deceive the masses who do not do their own research. Please get Dr. Craig Wright to properly and thoroughly explain what the BitCoin System is and how it works.

    Charlie Lee and co are jokers capitalizing on the ignorance of the masses. Frauds masquerading as experts.

  17. This is the same guy who sold all his litecoin at the top due to a sudden realisation of conflict of interest whilst telling everyone else to hodl ๐Ÿ™‚

  18. I completely agree with Charlie. Bitcoin is the best construct of money that's ever been used. Silver is probably second because it was used as every day means of purchases whereas gold was typically held to store wealth or facilitate the purchase of large transactions. Bitcoin like gold in my opinion, will become more of a store of value type money. People will hoard it to store wealth and use it to facilitate high value transactions where security of BTC's blockchain becomes most important. Litecoin is primed to assume a role for every day transactional use and will compete with BCH, Dash, Monero, Z-Cash as peer-to-peer money options. Bitcoin will likely become highly scarce due to potential demand and decreasing available supply dynamics at play. This is just another reason why LTC complements BTC; each coin will play a huge part in solidifying the future of the digital payments market and will shape the future of what we will consider money. The days of fiat currency are certainly at its door step.

  19. Litecoin is sound money. If it is cheaper and faster then will get market share. There are trillions of fake dollars and euros etc looking to get into real liquid assets before the reset. Which is inevitable. So it's a slam dunk. When the bitcoin network slows down and fees increase the best alts will gain adoption. LTC is one of the best.

  20. Charlie lee is a con-artist. He cashed gigantically just before the entire crypto-market crashed at the end of 2017, early 2018. I was a fan of Charlie and Litecoin, but I got very, very disappointed in him and I realized that digibyte is the much better crypto. It is faster, more secure, much much cheaper to transact with, more stable, more scalable, much more decentralized and it even has much more use-cases. Litecoin is just the more known crypto, but in essence litecoin is a shit-coin. And the fact is: when you sell all your LTC now for DGB, then you will even become much, much richer once the masses realize the real potential of Digibyte and all the limitations of Litecoin

  21. No need at this point to buy anything other than bitcoin. You are losing money if you invest in any crypto other than bitcoin…that wil change in a few years

  22. After referring to
    Bitcoin as โ€œthat rabbit hole,โ€
    Charlie displayed a series of
    meaningful neurolinguistic-markers

  23. Mike Green – clearly
    a master interviewer –
    just made history, and
    got the answer all us
    Macro guys wanted.

  24. Yeah that sounds great… if you know nothing about Bitcoin. So you are willing to wait for the block to be mined on average 2.5 minutes to purchase a coffee, items from a vending machine etc rather than 2-3 seconds via 0-confirmation Bitcoin ? Litecoin is copy & paste gimmick coin created only to milk the uninformed & stupid !

  25. There is a theory that ลitecoin has been leading the market both up and down over the last few months. ? It will be interesting to see if this continues now that the ลitecoin August mining reward halving is closing in and the Miami Dolphins partnership ? news has been officially released to its fans."

  26. Scammer. Literally no value, speculate on Bitcoin. That laugh from the audience at 0:00:20 says it all Lmao.

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