Litecoin, Bitcoin, And Humanity In 2023: Not Predictions, Just Observations
$229 per Litecoin back in 2018, and now we rejoice when it breaks $80? Lol. But not financial advice.
Weird world, folks.
Donald Trump became President... and now is so in the rearview mirror of the culture and the time period -- we are in the distant future right now -- that he's actually OLD news.
No longer President, no longer relevant.
Everything changes.
My home state, once a DARE drug war jewel, this year legalized recreational cannabis -- you can even grow 2 plants as an adult here, which was once on par with like running a network of meth labs in terms of the sentencing guidelines.
Wild. People change, laws change, whole countries can change.
When I graduated from college, there was no Bitcoin or cryptocurrency. Didn’t even exist. Now it's half of what I talk about.
The Litecoin thesis, by the way, continues to grow in strength. As I explained over in the full newsletter:
"2009, versus 2011. A two year lead time for Bitcoin, versus Litecoin... how much is two years worth?
The first two years, it was mostly being used by a bunch of now no longer alive computer techies like Hal Finney, and toward the tail end, random Internet druggies. Many of those early years coins are presumably lost forever.
So, what are those awkward first two years of lead time worth?
Is Bitcoin really unassailable?
I see some on Crypto Twitter furthering this stupid defensive circle the wagons Michael Saylor memetic "Bitcoin, not crypto."
Yah, real smart, disenfranchising yourself from the 70 percent of the marketplace that is not Bitcoin lol.
Instead of aiming his sights at the entire fiat banking infrastructure that Crypto replaces, bagholder Saylor aims for friends."
That's the Litecoin thesis in a nutshell -- two years younger than Bitcoin, continuous uptime for the past 11 years, and an arguably better mining/hashing algorithm than Bitcoin's.
If we're going to chase shitcoins, let's not forget THE original shitcoin lol.
There's no other coin quite like it. Available for trade within the Robinhood, PayPal, and Moneygram apps, it also enjoys near-Bitcoin levels of acceptance from big fintech services, despite a much smaller brand footprint thus far.
I definitely am bullish on Bitcoin still, in 2023 and beyond, but I see so many sad albatrosses hanging from Bitcoin's tired neck... meanwhile Litecoin is just a lean, mean, proof of work mineable cryptocurrency with a hard supply cap.
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