The Amazing Has Happened: Sept 19, 2017: The Day Cryptocurrencies Became "Money"?
We have an odd way of missing history when it is made. It is only in hindsight do we realize that something substantial just took place. I think we will look back on September 19, 2017 as the day that cryptocurrency became money.
According to an article on Nasdaq.com, the world's first atomic swap took place yesterday. The transaction took place between DRC and LTC which was first of its' kind and is a huge milestone. Atomic Swaps have been talked about since they first were discussed back in 2013. Charlie Lee, the founder of LTC, made it a goal of his to have atomic swaps are part of his blockchain. In fact, this feature is crucial for his goal to be the "money" for BTC's store of wealth.
This is a game changer. We might be witnessing the move of cryptocurrency into the realm of fiat currencies. One of the arguments against a currency like bitcoin is what if you dont have any? What do you do then? Or what if the item is priced in BTC while you only have LTC? Obviously, anyone who traveled internationally understands this situation. However, in that environment, there is a trusted third party to step in to help, for a price. Blockchain eliminates that need. This breakthrough enables people to seamless move between currencies without penalty. Do you understand how revolutionary this is?
We will see what publicity this move does receive. Considering the crypto world was smashed by the Chinese and Dimon last week, it would only be fair that this major event is reported on outlets like CNBC. Naturally, it wont happen since the media is an arm for the elitists. That said, the move has Dimon shaking in his $2,000 loafers.
Charlie Lee continues to impress. He has a vision and simply goes about implementing it.
Please upvote and resteem this article...this is news everyone who is involved in crypto needs to know about.
Peer to peer exchange with no third party!!! Hell ya!!! Be being new to cryptos I had to do some homework on what you were talking about in this post. This is truly something for the history books.
It is pretty amazing what they just accomplished. The Atomic Swaps are really a game changer in my opinion.
Yet it is barely being talked about for some reason....nothing said about them.
I totally agree with you. Definately a game changer. I'm puzzled too, as to why there is no talk about it.
Interesting! I am just now learning about crypto; it seems like I chose a good time!
Yes it seems you have....lots off good things going on with them.
Steemit really seems to be making strides. I am also high on LTC.
This post recieved an upvote from minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond
atomic swap? hey, i finally got money in coinbase and sent the btc to blocktrades and bought some steem! i'm big time now! (-:
Atomic swap in simple form is the idea that you have LTC, and vendor requires payment in BTC, and I have BTC. Under the swap, you send me your LTC, I remit BTC to your vendor, and all are happy. This happens seamlessly and without any of us knowing each other.
Congratulations. I am glad you were able to power up..this will help your account to grow because your voting power will increase. Get over the 500 SP level and you are then able to adjust your voting power.
If you want to get excited, go to @jerrybanfield and read/watch his 10 Reasons To Hold Steem.
I saw those, they were an impressive list. I'll look to buy some more next month I think.
Great News
It seems to be...I am not sure why it isnt more widely reported.
Charlie Lee is an overlooked genius in my opinion. He is going to be a household name at some point.
I can not wait to see what comes next. This will lead to almost transaction fee less trading and the ability to trade from wallet to wallet.
My feeling is this make every currency more valuable if you can automatically switch from one to the other.
It wouldnt matter what coins you had, you could instantly and cheaply swap them for something else.
Yup. This is