LTC is good for BTC: Why 'The Highlander' mentality is stupid.
With Litecoin actually becoming a contender in the crypto world the opinion that a single system has to "win out" and the loser will be a needless and redundant copy just isn't true. While this may have been true for some technology, unlike VHS vs. Beta, blockchain technology is not dependent on users investing in specialized equipment. Only thing stopping users from using both is the people building the technology. Both systems can play nice together even interact in some cases and having both serves a much greater purpose: the engine of innovation is the threat of competition.
Imagine if LTC never implemented SEGWIT? Do you think BTC would be implementing it so soon? Litecoin fought a long hard battle and IMO ended up with a more viable system (for now). That's what competition does - it motivates the one lagging behind to step up their game. This pattern is repeated over and over in the business world. Ford vs GM, Microsoft vs Apple, Ferrari vs Lamborghini, Coke vs Pepsi - without the threat of competition Litecoin would not be what it is today. That sort of competition is just what Bitcoin needs now to push it to innovate and compete.
So much to Learn about Cryptos and Everyone should Learn a little bit each day.
Congratulations @anon1! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
You published your First Post
You made your First Comment
You got a First Vote
Award for the number of upvotes
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP
By upvoting this notification, you can help all Steemit users. Learn how here!
Congratulations @anon1! You have received a personal award!
1 Year on Steemit
Click on the badge to view your Board of Honor.
Do not miss the last post from @steemitboard!
Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes
Congratulations @anon1! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!