B.O.P on Nostr: LTC is a proof of work system with many orders of magnitude less hashpower than ...
LTC is a proof of work system with many orders of magnitude less hashpower than Bitcoin (673 TH/s compared to bitcoins 600 EH/s), whose sole value prob is one day being the “silver to Bitcoin’s gold”.
This is a terrible showcase of one’s historical knowledge when I hear this argument because the whole point of silver being used for medium of exchange in the past was because gold was far less divisible at small quantities of wealth.
As you probably know, bitcoin can be divided into “sats” or .00000001 BTC so there is no need for a smaller unit of wealth for medium of exchange.
They may also say “it’s faster at the base chain” but speed doesn’t matter when it doesn’t have substantial mining network backing it leaving it open for attack.
This is a terrible showcase of one’s historical knowledge when I hear this argument because the whole point of silver being used for medium of exchange in the past was because gold was far less divisible at small quantities of wealth.
As you probably know, bitcoin can be divided into “sats” or .00000001 BTC so there is no need for a smaller unit of wealth for medium of exchange.
They may also say “it’s faster at the base chain” but speed doesn’t matter when it doesn’t have substantial mining network backing it leaving it open for attack.