why litecoin will fail

Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. *FREE* shipping on qualifying offers. In our view, Bitcoin is a bit like the Wild West of investing, back to the days before there was an SEC. Blockchain technology drastically improves the speed, privacy, and security of sending money. These are formidable powers that give the confidence that the value of the currency will be there. Why Bitcoin Will Fail to Scale? | Management Science - INFORMS Obviously, this was a huge benefit for criminals on the Dark Web. Another risk factor is that while Bitcoin was first-to-market and the most well-known, its value depends on its first-to-market brand name. The most enthusiastic supporters of Bitcoin are revolutionaries. Earlier this year, Charlie Lee, creator of litecoin, reportedly toldLitecoin Foundation directorFranklyn Richards that"no one is interested in working on Litecoin protocol development work, according toTrustnodes. Why Bitcoin will fail. why litecoin will fail. Secure Your . I believe investors are also placing their faith in the wrong asset. Additional disclosure: The views expressed, including the outcome of future events, are the opinions of the firm and its management only as of March 21, 2021, and will not be revised for events after this document was submitted to Seeking Alpha editors for publication. could go about investing and why people invest and hodl or hold BTC as a store of value. Several of them also here on bitcointalk, but none of them provides technical evidence of why Litecoin should be better (or even comparable) to Bitcoins. Bitcoin et. [1] No one could have ever imagined that that seemingly unimpressive page would evolve into what has now become what the Internet is today. Volatility. Manmohan Aseri. Many have brushed it off for years, saying that it was a fad that would disappear as quickly as the value of Beanie Babies. The altcoin(defined as a cryptocurrency other than bitcoin) fell to as little as$62.65 late last month, down more than 55% from its price of $146.43 in June, CoinMarketCap figures show. But Bitcoin is nothing more than the masthead of the movement. As Bitcoin gained market traction, it became more difficult, expensive, and slow; now that it has dropped to its lowest point in 18 months, some are questioning its worth. There is no supporting entity that is charged with effectively maintaining the value of the cryptocurrencies. His elective coursework included a number of political science courses, including International Politics, International Organizations, European Politics and other more basic political science courses. The second argument against Bitcoin is that the digital currency is too volatile to work as a reliable currency. Since the Bitcoin founder Satoshi Nakamoto is no longer publishing his opinions, all coders have left is the documentation he left behind. All it takes is time and coding knowledge for blockchain -- the digital and decentralized ledger that records transactions -- to be developed and a digital token to be tethered to the network. There are a lot of people who believe that in order for Bitcoin to survive, there needs to be a mass exodus to another platform that would be faster and more reliable. But there is resistance to CBDC largely from incumbent commercial banks because narrow banks, which would be more easily enabled by CBDC, would largely upset their business model. (Presumably, negative rates could also be imposed on CBDC by giving a haircut to deposit accounts.) This implies there may not be any need for a made-up digital token to be used at all on blockchain networks. It's not out of the question that programmers, with overwhelming community support, could choose to increase bitcoin's token limit at some point in the future. The inflationary spiral is notorious and it could bring Bitcoin to its end. In that sense, it is like a piece of artwork. However, Litecoin may still provide . Once the fall starts, it will come hard and fast. Litecoin Has Climbed More Than 1,700% Year-To-Date - Forbes. Billionaire Jamie Dimon, the CEO of JP Morgan chase, has called Bitcoin a fraud and says that it is destined to fail. All of the original ideas for possible use cases for the blockchain are actually coming true through Ripple, not Bitcoin. After that, a decline began, which accelerated on March 3. Bitcoin and Why Cryptocurrencies Will Fail | Wiktor Jaszczuk - YouTube Crypto critics have been expressing similar sentiments regarding Bitcoin, claiming that it is doomed to fail sooner or later. You are just one step away from creating your watchlist! 5 Time And Mining Problems. WHY BITCOIN WILL FAIL: foreword by Craig S Wrong [Sakamoto, Natoshi, Wrong, Dr Criag S] on Amazon.com. Moh Hon Meng | Published on 04 Jun 2021 Facebook Twitter LinkedIn Email Whatsapp Whatsapp. Since then, it has performed better. In the US dollar, you will see the words legal tender", which means the same thing. Why Bitcoin Thrives (and Why It Won't Replace the Dollar) If you find our opinions helpful, click on the "Like this article" (the Thumb up) at the bottom left of this article and its various caveats. By no means are cryptocurrencies the only asset to be hacked by thieves, but there are serious fraud and theft concerns that accompany bitcoin. Outsiders buying in were suckers. It was the first currency to hit $100, then $1000, and so on. Join This Elite Group - Sign Up Here: https://www.huefinancial.com Follow us on Twitter @HueFin_News Follow us on Instagram If the Great Depression and the 2008 recession were any clue about the future, people will sell without hesitation if they lose faith in Bitcoin. First of all, bitcoin is only as scarce as its programming dictates. But as good as bitcoin has been for investors in 2020, my blunt opinion is that it's a terrible investment. Why Bitcoin will ultimately fail. Not because it has no use, but | by Ask a believer, and they'll tell you it's a bubble that will . First, ban trading in, and ownership of, Bitcoin and its clones, just as President Roosevelt. Kevin O'Leary on why he won't invest in bitcoin BTC So, why arent they as popular? "Both of those currencies have large and devoted followings and developers, whereas LTC hasnot much," claimedHendricks. It rose from $11,000 in September to $24,000 in December, passed $40,000 in January and hit $61,000 in Marchmore than three times its 2017 peak and 19 times its most recent low in 2019 . Im not saying that cryptocurrencies will fail. It is actually going to rise like many times before. "Both of those currencies have large and devoted followings and developers, whereas LTC hasnot much," claimed, Marouane Garcon, managing director of crypto-to-crypto derivatives platform. Filler. And then, try to push that out to once every two weeks or once a month. You may have heard close to thousands of times now that Bitcoin will go down, burst, plummet to 0 or get outlawed by the government. Top 10 Bizarre Facts About Bitcoin - Listverse After realizing that taking out a home loan meant his property was never really his, a military member sold his house to buy bitcoin instead. Failure Reason #3: Ethereum-Related Cyber Crime. But Bitcoin and its clones wont be part of it. One is that low-quality altcoins took over, and the second is that commodities exchanges launched Bitcoin futures. They would strategically partially ll the blocks by including "Nothing is too big to fail," says . Blockchain can be used to reinvent supply-chain management and expedite overseas payments. Campaign collateral he developed for political campaigns has been used in university courses as an excellent example of persuasive campaign advertising. Why Bitcoin Will Fail - Medium Your session has expired, please login again. NOTE: Our commentaries most often tend to be event-driven. I am a financial writer and editor who focuses on investments. Theyre even going to process the financial transactions of American Express. So again, no, nobody is buying bitcoin because of its blockchain tech because there are better options available. The license promises to comply with United States taxation laws and regulations. Even if they could change everything in an instant, would they really be prepared to push the big red button to begin the end of the world? So no, countries will not adopt bitcoin. However, even though Bitcoin was the first to introduce blockchain to the world, its not necessary for blockchain to exist. Share Prices Down. But credit and debit cards are last century technology and they charge fees, both to the vendor and sometimes the cardholder and for the convenience. Save my name, email, and website in this browser for the next time I comment. They will issue their own versions instead and then ban bitcoin. This could prove somewhat accurate with the pandemic highlighting the potential for physical cash to be a carrier of harmful germs. They predict that LTC will get as high as $153.301 by 2023. Big players have got involved in the craze and are actively manipulating the markets through high investment and high sell-off. *Average returns of all recommendations since inception. I also offer advice that actually works in real life. The Bitcoin price is down today as crypto markets react to fresh FTX fallout, and BTC bulls are unable to defend . Why are prominent people buying bitcoin if it has so many problems? For example, phone #: 123-333-4567. Why bitcoin will fail - apenwarr Consequent years are also predicted to be positive, with LTC being valued at $352.793 by 2027. If you think preparing your federal income taxes stinks now, try preparing them after investing in and/or using bitcoin in any transaction. Why Bitcoin Will Fail . He and his pool cronies would raise trading volumes, plant press stories, spread rumors, and boost stock prices through wash sales having a seller and buy acting in tandem, effectively passing the same cash, plus a bit more, to boost the price more, but all among themselves. Why Bitcoin will fail: although crypto will be a huge success! Here are three reasons why. why litecoin will fail >>CLICK HERE<< to change your financial future! Frank added that "LTC is also experiencing the largest drop in long-term sentiment among any of the largest coins.". I am not confident that this future will come based on the reasons above. The longer Bitcoin exists, the more difficult it becomes to mine, or create new coins. "Bitcoin, however, will not go away, because it is actually decentralised and it is still very much in demand as a replacement for legacy money . Fiat money has the value of the guarantee of the government that issues it. Without stability, a currency does not work. Thats to say nothing of all the multiple schemes fraudsters use to clone your card. 3. The fact that the digital cash system has simply existed for this long is a grand . Why Bitcoin Will Fail - Piggy Bank Coins Is Litecoin still a good investment? If there are stocks you know you want to buy . His experience spans work for Fortune 100 companies, one of the former Big Eight international accounting firms, and client service for large middle-market public accounting firms. Here are the top reasons. This piece is to explain why you shouldnt invest in Bitcoin, et. 10 Reasons Bitcoin Is a Terrible Investment | The Motley Fool Others discuss new management strategies we believe will fail. The advantages that bitcoin might have will erode when fiat money becomes fully digital. This is incorrect. Is Bitcoin Too Big to Fail? | Institutional Investor Why Bitcoin will fail | FSMOne - Fundsupermart.com When the rollout is announced, "Katy, bar the door." As the flagship symbol of the cryptocurrency asset class, Bitcoin slammed bear prediction after bear prediction. Who is minding the store? Copyright 2022 HT Digital Streams Ltd All Right Reserved. On the other hand, beyond the zero bound, when the Fed is managing more routine monetary policy, it could more readily inflate the economy by increasing the rate of exchange for currency for CBDC and reduce inflation by decreasing it. Realist, not conformist analysis of the latest financial, business and political news Once the fall starts, it will come hard and fast. If no one is willing to work on Litecoin and develop it then why should anyone invest in it?". why litecoin will fail - sportsnutrition.org Cryptocurrency can be the future . Govt not in 'crazy rush' to sell everything, says FM Ni As China bans women modeling lingerie, men pull it off How to use behavioral nudges to increase retirement savings, SEC is cracking down on Crypto staking. Carnegie Mellon University - David A. Tepper School of Business. why litecoin will fail. But while it's true narrow banking would disrupt commercial bank incumbents there should be no inherent protections for them any more than, say, Hersheys should be protected from a start-up confectionary with a better product. The type of monetary policy and bail-outs we saw in the wake of the 2008 financial crisis could be implemented or simply avoided - by the Fed instead of the Fed having to work through commercial banking intermediaries. why litecoin will fail 2017. Bitcoin has a promising future as a store of value and a part of the world's monetary system. Second, and simultaneously, Treasury should issue a USD based CBDC. ), The Inherent Risk of Private Cryptocurrencies. Q&A / By . Finscreener. The Journal of Government Financial Management says that blockchain technology can truly help the financial system, but they need to see more successful examples of use cases, first. As a result, they o er near-zero transaction fees. So a debit to your account appears as a debit across the entire Blockchain infrastructure. Download the Mint app and read premium stories. Why Is Annaly Capital Management's Dividend So High? WalletInvestor Litecoin price prediction for 2022, 2023, 2025, and 2030. There are plenty of ways for hackers to hide their identity, but for the casual user, they are not getting any added expectation of privacy from Bitcoin. To Avoid Falling For Scams, Novice Crypto Traders Should Treat Most Tokens Like Stocks. "News of the halving pushed Litecoin prices" higher, saidJoe DiPasquale, CEO ofcryptocurrency hedge fund managerBitBull Capital, after which traders booked profits. You bought it as a speculative investment hoping that it would go up in value. Over the years we've heard many reasons why Bitcoin will fail. Of course not. To date, only 18.51 million bitcoin tokens are in circulation, with an estimated 40% of these held by small group of investors. Why Bitcoin Will Fail to Scale? - SSRN Thats it. Both of these coins, or cryptocurrencies, are already available on the market. Unfortunately, the community cannot seem to agree on even the smallest decisions. An astute, data-driven observer of business, politics and economics, Mr. Collins has advised political candidates and public officials on campaign, political and policy matters for more than two decades, and has twice been a delegate to his political partys national quadrennial convention to nominate the American president. Last, but not least, all next-big-thing investment bubbles eventually burst. The spread between the bid and ask on Bitcoin, for which the value is, at best, opaque, can vary considerably. For the most part, its just kids writing on the Internet about how they want the world to change, without a real plan on how to execute it. You know I love cryptocurrency -- 10% of my net worth is in crypto and digital assets. 1. Whereas physical metals, such as gold, are limited to what can be mined from the earth, bitcoin's token count is limited by computer programming. They are in charge of what the world currently uses for banking transfers. Why Bitcoin will fail. As an example, Bloomberg which reported about the double spend and how Bitcoin might reach a value of USD 0, published another article about why Bitcoin will fail as a currency to stand their ground after the double-spend incident turned out to be wrong. Now, does this mean that you cant make money off the Bitcoin rallies and institutional investing? why litecoin will fail. A sixth issue is that blockchain is still years away from gaining real relevance. He told Currency.com: "Crypto could disappear forever because crypto is just centralised projects creating tokens and coins at will. "Now that the alt markets are sluggish, they're taking some profits off the table.". One person can read the same exact paragraph in the Bitcoin White Paper and come up with a totally different interpretation of Satoshis words than the next person. Whether its the latest phishing scam, cyber blackmail, or a ransomware attack, the legions of criminal schemers all prefer the anonymity of Bitcoin to a less anonymous alternative. For most businesses, its simply not worth the money, time, and effort to accept Bitcoin when so few people will actually use it in their stores.[4]. Buy These 2 Stocks in 2023 and Hold for the Next Decade, Warren Buffett's Latest $2.9 Billion Buy Brings His Total Investment in This Stock to $66 Billion in 4 Years, 2 Stocks That Are About to Make Their Shareholders Richer, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, bitcoin is only as scarce as its programming dictates, all next-big-thing investment bubbles eventually burst, Copyright, Trademark and Patent Information. Euromoney explains Blockchain in greater detail. Why Bitcoin Will Fail - jamesallan.net You should not use this article for that purpose. And who hasnt fumbled around looking for a credit card that weve left at some other vendor by mistake, often tens and sometimes even thousands of miles away? First of all, bitcoin is only as scarce as its programming dictates. Why Bitcoin will fail - BTC PEERS Euromoney explains Blockchain in greater detail here. Some think that Bitcoin is a monetary revolution, there's still lots of valid scenarios that explain why Bitcoin will fall. Why Bitcoin will Fail to Scale? Cinema Specialist . Bitcoin: You're Buying Obsolescence, And The Fall Will Be Hard The issue with creating decentralized "cryptocurrency", is that there will be no one to keep it stable. Even after bouncing back,the digital currency is still far below its 2019 high. In fact, it is quite obvious that the future of currencies is digital and crypto is simply a particular way of operating a digital currency. Developers have come up with a solution called a hard fork, which is why Bitcoin Cash was created. He said that even if the price of one Bitcoin rises to $100,000, it would not change his opinion that it is destined for failure some day.[9]. Another reason bitcoin has done so well is the expectation of a digital revolution. al., are to criminal activity what water is to a wet sponge: it permeates all manner of criminal activity. In 2021 alone: And yet, zooming out of the hype, I believe Bitcoin will not be the big winner of the crypto-race. Is this happening to you frequently? Why Has Litecoin Fallen 50% Since June? - Forbes Two reasons. Why Bitcoin Will Fail. al. Making the world smarter, happier, and richer. Another beef with bitcoin is that there's no tangible way to value it as an asset. Last Updated on June 19, 2022 by . Its very similar to the stock market in that way. Almost all of the banks in the world use SWIFTs now-outdated technology, and they handle quadrillions of dollars. Time to Buy These 3 Dividend Machines? Cryptocurrency is here to stay, but Bitcoin and its clones will be obsolete, probably within this decade. It'll just take a moment. Some bitcoin supporters have the vision of a future where currencies are fully democratized and not controlled by governments. Please disable your ad-blocker and refresh. Other cryptocurrencies actually have leaders to guide them. Bitcoin price analysis shows a bearish market sentiment BTC price has sought support at $20,000 After a startling 5% BTC rate loss overnight, traders are filled with doubt and Bitcoin's RSI has returned to the starting point. Bitcoin goes UP. Heres what to know, How to invest in these very confusing times. Here are 10 reasons you should avoid bitcoin like the plague. and why you should run like the dickens away from this much-hyped internet artifice. The only value that bitcoin has is in somebody else willing to pay a price for it. Every single year, Toronto hosts a banking conference called the Swift International Banking Operations Seminar (SIBOS), where some of the most powerful people in the world meet. Governments already have predicates to ban the use and exchange of Bitcoin: Tax evasion - enabling criminal activity. Today, the market has way more newcomers, so the percentage of Libertarians is much smaller as more casual people join to invest in hopes of getting rich, rather than trying to start a revolution. It was mostly fear of a mostly unknown virus that people were led to believe could infect surfaces. Without any clear vision of where Bitcoin is going, there is very little for an investor to count on or to have faith in. This article includes forward looking statements as to future events that may or may not develop as the writer opines. Why is the crypto market falling today? - Cryptopolitan For example, Mastercard (MA 1.67%) was awarded a patent in July 2018 "for linkage of blockchain-based assets to fiat currency amounts." Large Crypto Losses May Not Become Instant Tax Write-0ffs, But Heres What You Can Do, The Death Spiral: How Terras Algorithmic Stablecoin Came Crashing Down, How The DeFi Space Has Become A Massive Breeding Ground For Crypto Ponzi Schemes, Cryptos Great Reset: How Digital Asset Investors Will Recover From The Markets $1 Trillion Meltdown. Since then, litecoin prices have recovered, trading between $70 and $80 over the last few days,additional CoinMarketCap data reveals. Statements herein do not represent, and should not be considered to be, investment advice. Anyone considering it should be prepared to lose their entire investment.]. Bitcoin is also an unregulated asset. For people outside of the complex and exciting world of cryptocurrency, Bitcoin can be hard to understand. Right now it is mostly a speculative asset - around 70% of BTC transactions are for speculation with 30% for transactions. Feel free to do your own research, but from my experience, both blockchain technologies are also better suited for modern banking. Three years ago, when blockchain companies and cryptocurrency stocks were the hottest thing since sliced bread, it was expected that blockchain technology would be quickly adopted. Bitcoin has no purpose and provides no benefit. Moh Hon Meng | Published on 04 Jun 2021 Facebook Twitter LinkedIn Email Whatsapp Whatsapp. Though this lack of regulation is actually a selling point for today's crypto investors given that it provides some degree of anonymity, it's bad news if something ever goes wrong. Here's Why Bitcoin Will Fail - MSN It's a gigantic headache. Its easy to read between the lines and know that what he is really saying is that they want to make their own blockchain. Nevertheless, in the end, Bitcoin will become the Myspace of cryptocurrencies and there are four main reasons why I believe so: 1.

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