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RE: The Bitcoin Fork(s) & August 1st: Don't Panic, Read This
And would you expect this to have a knock-on effect to the likes of ether, Litecoin, and possibly steem too?
And would you expect this to have a knock-on effect to the likes of ether, Litecoin, and possibly steem too?
I don't think Litecoin has a real future, unless Bitcoin is dead dead, despite what people have been told. It has not technological merit beyond Bitcoin's, it pumped based on adopting Segwit, which I don't think matters at all for Litecoin because there are so few actual TXes on Litecoin that there is no demand for scaling solutions -- unless again Bitcoin fails and for some reason people adopt Litecoin out of familiarity and ignore all the better currency technologies like Zcash, Monero or all the stablecoins that will be on Ethereum like Maker. A lot of Litecoin holders have been misled but such is the ways of cryptocurrency and if people don't do their own due diligence, they are liable to get burned.
I don't think disaster scenarios for Bitcoin are good for any other digital asset in the short term though, not even Litecoin, not Steemit, not Ethereum.
Cool thanks for the detailed response here. You've got me thinking about my Litecoin holding... Maker/Dai I need to take a look into I guess!
I wonder if litecoin would be a better bet moving forward if it could be mined by the asics that are currently mining bitcoin.
Getting the bitcoin miners to switch seems way more important than segwit.