Litecoin as "blue-chip" coin. lol, #timestamp
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Theory is nice, but when the theory doesn't match reality, adjust the theory.
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Or make a wager with people who have different theories. I believe I offered such a bet to Smoothie a while back, when LTC was trading >0.01BTC if memory serves.
And FWIW - I consider the crypto-markets to be extremely immature, to the point where it's still very difficult to discern signal from noise looking over the entire history to date. Thus I'm certainly not abandoning theory at this point. Feel free to quote this in >5 years if Litecoin as a "blue chip" isn't obviously ridiculous by then.
On a related note, it's been a theory of mine (and many others') for years that Bitcoin would remain strong in the face of alt-coin competition due in part to the idea that Bitcoin could and would adopt good innovations from the alt-space. But this is a theory that I'm listening to the conflicting data on, and am not so sure about any more, as Core dev and their narrow-minded high-hashrate supporters show that perhaps Bitcoin really isn't as strong and anti-fragile as I'd believed.
From my perspective, Bitcoin
has remained strong, even considering recent events. There has just been room for other coins to thrive as well. Pretty much what iCEBREAKER said about the crypto pie growing rapidly, where once slice becoming bigger does not make another slice smaller.
If your theory was that Bitcoin was just going to streamroller over all other communities and simply assimilate all innovation and market development, well that theory does need some reexamination (and LTC is very much valid evidence for this not happening, among others of course), at least so far.
If we advocate Bitcoin (read: crypto e-cash) becoming a critical system, how can we not also advocate multiple redundant backup systems?
This logic is almost universally applied to gold and silver in terms of fiat, AEON and BBR/XDN in terms of Monero, generators and batteries in terms of COLOs/hospitals, etc.
When appeals to
argumentum ad Las Vegas wagering are made, we may take that as indication Melbustus' mind is made up and does not wish to be confused with facts, whether empirical or analytical. When his theory doesn't match reality, he'd rather move the goalposts 5 years into the future than check his (obviously flawed) premises.
Le sigh. I suppose we should welcome the LTC and BTC obituary writers into our ever-expanding Monero tent, as an auspicious sign of our community's growing diversity. Who else is ready to lean into Monero's Eternal September? I'll throw the first handful of dirt on our little Golden Age of Wild & Free Mustang Enlightenment...AP can carry the torch from here.
On a side note, I can't believe Smoothie is being so nice about the LTC smack talk!
I guess he's in a good mood, what with the XMR moon and all. Or there's more drama/history to the wager than Mel alluded to....
