We started 2020 off on a very good note. Leading cryptocurrency, bitcoin approached the $9000 mark, even if it was only was for a short time, with other cryptocurrency assets riding on that same high. LTC was just one cryptocurrency that ended up surging above the $60 mark.
Speaking in a recent interview on YouTube with the Crypto Lark, the creator of Litecoin, Charlie Lee spoke about developments going on within the protocol. When he was asked on what the biggest competitors were for LTC, Lee said (without any hesitation) that it was fiat currencies. He further added:
“We’re all in it together, to be a better form of money than the US dollar or any other fiat currencies out there. And I think, cryptocurrency is a better form of money, but it’s going to take some time before we win that war (…) Consider Litecoin and Bitcoin today, the important thing is that you’re able to transfer value. We fought a central party and no one can censor crypto transaction today. And that’s like the key thing, right? You can send like money over the Litecoin network without requiring a central party to help you do that.”
He then went on to comment on how crypto assets were attacking themselves rather than the actual enemy, which in his eyes is fiat money.
“Crypto coins can be worth like billions of dollars, but if people don’t use it like they use fiat money, what’s the point? What’s important to me is store of value and payments.”
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