One of Several Reasons Why Litecoin, Bitcoin, Digibyte and Other Cryptocurrencies are Superior to Gold

If the power grid ever failed, gold remains in your possession.

so does crypto. your crypto possessions are stored on a DISTRIBUTED LEDGER. which means there are million of copies of the ledger world wide about what YOU have.

If the power never comes back on than we are all screwed and money will be the least of your problems.

ya cuz you'll have to shit outside

I don't think so, superiority should be rated based on simplicity coupled with usefulness and reliability.

If you own a gold or silver coin and it's in your hot little hand you can use it to exchange for something you need as long as the other party will accept your coin.

But with cryptos you have a long list of items that all need to be working before you can even use the coin. Is the power on? Is the internet working? Is the government exercising control over the internet, making the exchange of cryptos impossible?

The government can do the same thing with cryptos they did with paper money, just pass laws saying everyone has to use fed coins. These coins can be fabricated at will, there's no limit to how many coins they can create. But there's a limit to the number of gold or silver coins that can be minted.

I think you'll see what I'm talking about in the near future as services get unreliable. Just look at the grocery stores, a year ago if I told you that certain products wouldn't be available you'd laugh at me and say go to another store.

So much stupidity in this post. The thing can be said for the whole financial system now. The internet has to be on and electricity up.


Governments cannot stop crypto because it is totally decentralized. They cannot shut it down. China tried, India tried, they botj gave up.

Coins CANNOT be fabricated. There will onmy ever be 84 million Litecoin. There will only ever be 21 million Bitcoin. You cannot counterfeit them. Or create trillions of them out of thin air like they are doing daily with digital US dollars.

if power / internet is out, not sure GOLD will be worth much either.

if u assume power and internet stays on, cryptos are a much better long-term investment

correct

By early next year (2021) Bitcoin will eclipse physical gold as the HARDEST money ever invented.

Why that is the case is up to YOU to research.

Buy some Satoshis now, or forever regret your missed opportunity.

Very correct,

and the physicality of Gold is not a highlight, but testament to the antiquity of it and thus the preference towards a Digital scarcity such as Bitcoin.

Bitcoin can be liquidated at any quantity in seconds to fiat or goods. Physical gold requires transport of commodity. Which increases time to payment, decreases your global spending ability, increases the chance of theft as you must secure the possession as well as the transport of it.

Gold is the dinosaur of currency and wealth. Come out of the dark ages.

Well if someone gets pissed off enough they are going to write a program the that erases or scrambles those databases into oblivion.

They do have insurance to reimburse you right?

LOL, that's literally impossible.

I don't get the cryptocurrency thing. I mean, people complain about our paper dollar because it's just paper backed by nothing, right? So what the hell is crypto? Where does it come from? How is it "mined?" What the hell are you stockpiling that people find valuable? How is this an improvement over our current fiat currency?

there are zero reasons why they are superior to gold. They are fucking bitstrings. I can make you a trillion bitstrings for 10 bucks

I bought litecoin today

You apparently know slightly less than jack-diddly-shit about BTC and LTC.

That's OK. Just keep buying Tesla stock.

Well done.

LTC is an early fork of BTC, with a hard cap of 84 million (BTC is hard-capped at 21 million.)

No-one can double-spend or create anymore than that.

Meat-world miners can always pull more gold and silver out of the ground, so there is no known cap on the PMs.

^^^this man cryptos^^^
I can't wait to see Spoofy come out once BTC goes over 100k USD and LTC over 1000 USD

If it's connected to the internet it's not impossible.

What happens when one database goes down, does it get removed forever from the chain?

How does it get brought back to current? Is every database in constant recreation from record 1 every sillysecond.

Is there only one backup created or is ever database backing itself up but never reflecting the the transactions that are occuring in real-time?

Who is paying expenses for this massive record keeping of just one database in the chain do they even know their system is a records database and what happens when they decide to get out?

all ledgers or databases are synchronized in a blockchain. thats the whole point bozo. do some research next time before you run your mouth about things you don't understand

Blockchain, Ledgers.
New stuff, got it!