Litecoin creator Charlie Lee discusses transaction security trade-offs between Bitcoin and Litecoin.
0:00 / 0:07exact quote · 7.5s
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“Bitcoin is in and still the most decentralized and secure and censorship resistant cryptocurrency out there.”
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More from Charlie Lee
Insight
Lee: Rising Bitcoin fees are inevitable to preserve network decentralization
“Bitcoin, it's a kind of inevitable that the fees will go up, because in order to stay decentralized Bitcoin has to kind of err on the side of being decentralized, having smaller blocks and having higher fees than to go to other kind of the other route, which i…”
Charlie LeeMar 2, 2018▶ 7:39951 How He Created LiteCoin, the Silver to Bitcoin Gold
AssertionSupported
Lee: Litecoin launched with zero pre-mine or founder token allocation
“Well, I created Litecoin, but I didn't, like, pre-mine coins. I didn't create coins for myself, right? I had to mine the Litecoins or buy the Litecoins off exchange just like anyone else.”
Charlie LeeMar 2, 2018▶ 14:18951 How He Created LiteCoin, the Silver to Bitcoin Gold
Opinion
Lee: Litecoin's SegWit activation proved the upgrade was safe for Bitcoin
“Actually, our work, I believe, helped it get activated on Bitcoin to show that Segwit is actually a good upgrade and has none of the fear that people associate with it.”
Charlie LeeMar 2, 2018▶ 18:15951 How He Created LiteCoin, the Silver to Bitcoin Gold
Opinion
Lee: Bitcoin is a superior, digital version of gold
“When I saw Bitcoin, I realized it's like a better version of gold. The only difference is there's no physical form of it. And because of that, people complain that there's no intrinsic value, but from what I can tell, it's actually just a better version of gol…”
Charlie LeeMar 2, 2018▶ 6:44951 How He Created LiteCoin, the Silver to Bitcoin Gold
Opinion
Lee: Crypto prices are driven almost entirely by market speculation
“But to me, like the price doesn't matter because it's kind of just all speculation right now.”
Charlie LeeMar 2, 2018▶ 2:16951 How He Created LiteCoin, the Silver to Bitcoin Gold
Insight
Lee: Bitcoin is a savings account, while Litecoin is for checking
“Another analogy that people can think of is Bitcoin would be your savings account, and Litecoin would be your checking account. So you would keep for long-term store of value, Bitcoin is definitely well, arguably better, and Litecoin is better for a day-to-day…”
Charlie LeeMar 2, 2018▶ 5:43951 How He Created LiteCoin, the Silver to Bitcoin Gold
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