Topic: Litecoin Scalability (Serious Real World Question) (Read 631 times)

Avatar was a nice movie, but it was just a Pocahontas with better effects actually.

But the owner of Tesla has such dreams and they come into the news from time to time.
He wants to mine from asteroids. And lately he wants to colonize .. Mars, I think. That was what I was referring to.

And please think better what you are wishing for. Evolution DOES happen. The only way for humans to not leave this rock is to see humans get extinct before they get to "go out".

I agree with you, most of these figures been thrown around are not the true figure and I believe our politicians we do everything to hide the magnitude of the main issue

Amen.

It is all just a power game.

Don't trust @ what you see. My investor (we were discussing it in other thread) is a billionaire. My guess is that he's worth at least $2 - $3 billion. He has properties (and that's a proven fact) for a 150 million euro in Sofia (the Bulgarian capital) alone.

Some big whales are indeed turning their heads to cryptocurrencies, but talking and actions are a different things. Maybe in some years we are going to witness some impact from their side. Even Bill Gates said that "Bitcoin is better than currency", but that was back in 2014. It hardly affected Bitcoin and others. Actions speaks louder than words.  

I know some very wealthy potential investors (older/younger) and believe me, Bitcoin is on their radar. Litecoin? Not so much, but at one point Bitcoin was totally beyond public awareness as well. Most likely many altcoins would benefit, but some will benefit more than others in this next rally. 

Damn dude, did you just reference a scene from Avatar in regards to mining resources outside our planet? God, I hope we don't leave this rock! ROFL

We can develop as much as theories you like, but the simple truth is that DB is probably indeed targeted for a reason. Banks failed long time ago. It started in the 70s, when Nixon said "Let's start printing some money". I have a very favorite example - Luxembourg. A country with extremely high standarts, but:

1. Population: 580k
2. GDP: $56 billion
3. Banks operating in the country: Over 150
4. External debt: $3.5 trillion

That bubble you are talking about is here for 10s of years. Banks have no money. My best guess is that DB was exposed for a political reason: to weaken the EU. Just like the "migrant" "crisis".

Very interesting theory. Yes, we are in a bubble and some of us know that.
I have a few words to add though. Property doesn't necessarily mean luxury real estate. We are more and more, the Earth is not getting bigger. And we need more food too. Buy land. And it's only one example.
Gold: while people have a big appetite for gold and jewelry, they seem to get more expensive and lower quality. My mom's rings were 24k, now everything is 18k or even less. Unless we get to mine (cheap) from asteroids or nearby planets in the near future, I don't see why the price could fall.

I like crypto a lot. You also have valid points. But try to think like the average rich guy. Is crypto on his short list? Is Litecoin on that? (Because that's where we started from).

Property globally is already in a bubble though... do you think it can go higher? Luxury real estate is losing steam as well. If central banks lose confidence then this will affect the artificial stock market (FED can't even raise rates .25% and they've been talking about it for practically a decade). Last time the stock market crashed it took down real estate. The comex is a complete scam and they will not let PM's skyrocket. It would literally take China instituting an actual physical trade market with real pricing when exchanging REAL metal rather than paper IOUs.

Crypto currently doesn't have circuit breakers (and trades 24/7) unlike all other markets. My theory is that once BTC exceeds its ATH it's in unknown territory and only whales can stop its accession. If the cross-over on the ATH occurs during an event like a bank bail-in, then BTC price could go full retard. If this occurs then alts should see a boost, but if this chain reaction of bank defaults spreads then who knows what the future holds.

Would take the entire crypto market to handle all the potential users if something like that happened. And yes, your average person around the world doesn't give a shit about crypto now, but if they see BTC go up 30x again while everything else is falling, you bet their ass they will.

In 2011 I would tell my gold bug buddies about BTC and how it was a better gold. They didn't give a shit until they saw it outperforming their PM's and now they're all interested.

That's not the main problem. Seems like DB was targeted for a reason... just like the "migrant crisis". Banks actually are without a money (at least not that much they are telling us). OP said something very important - derivatives. DB has market cap for like a $25 billion, but their derivatives exceed $400 trillion.....

Why Litecoin? First of all most could actually chose gold or properties, not crypto.
Then most don't know of other crypto than Bitcoin. Bitcoin has troubles, it clearly needs improvements, but it's still the king. Most will chose it.
And there are quite a lot of altcoins, some will even chose anon coins.
Litecoin has a good blockchain, good block times, and that's basically it. Even Bitcoin is accepted in far too few places. Litecoin has a very small fraction of those. LTC is far behind BTC adoption wise. So.. yeah.. why Litecoin?

It is not only the 14 billion fine they have gotten now, that is only the drip in the bucket that makes it flow over.

Their stock price is almost a third of what it was a year ago. No company would be able to take hits like the 14 billion one after such a loss in investors faith.

https://twitter.com/FAILCommunity/status/780457051243896832

@dbaling

Maybe few heads could turn around to crypto, but the DB "collapse" has nothing to do with it.

@cryptohunter

$14B is like an official figure. Truth is that most of the banks (if not all) have no money. This is some political game.

Not doubting you but can 14 billion take down a huge bank? I would have thought it would have to be a lot lot more?

A bank with the largest derivatives balance sheet in the entire world could collapse relatively soon. They will either declare bankruptcy or do a "bail-in" (similar to what we saw in Cyprus). Being that Germany dwarfs this small island, I assume that either outcome will have a substantial positive impact on the crypto market (based on the last rally we saw in 2013). However, Bitcoin will not be able to handle the demand due to a block scaling bottleneck (although, they have some scaling upgrades in the works). My question is then, can Litecoin even handle the overflow of new users even with 4x capacity? I strongly believe that LTC would become a direct beneficiary of this user overflow issue. This is not some pie in the sky concept either, but becoming a real possibility if central bankers can't hold this global monetary system together. Do we have a contingency plan in place if this occurs? It would be wise to get something in the works prior to such an event taking place or at least have it coded and ready to implement as a backup. Any insight from developers or other technical insiders would be greatly appreciated. Lastly, Germany has a population 80x larger than Cyprus; that should give you an idea as to how much bigger this next wave of users could be in the event of a financial fiasco.

Current Chart:


Side note: I seriously hope they can work their magic in resolving this 14 billion issue because the repercussions of this particular bank failing could set off a nasty chain reaction.