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Litecoin|Jan 22, 2025 02:14
The US dollar was first backed by both gold and silver. The bimetallic standard was in place until 1873. Silver was reintroduced into the system 5 years later through silver backed coins such as the Morgan and Liberty Dollar coins.
Silver certificates were also available for redemption for silver backed coins or actual silver itself were created from 1878 through 1964 as an alternative to gold based dollar notes.
Litecoin historically fulfills this bimetallic comparison with Bitcoin as the only two true fully decentralized commodities that encompass value similarly through their makeup but are still different enough to differentiate their origin, complement each other, and not compete directly.
Bitcoin's SHA-256 hashing algorithm dominance of 98%+, 21 million coin hard cap, 10 minute block time average, and store of value proposition symbolize the scarcity, demand, and value of gold.
Litecoin's Scrypt hashing algorithm dominance of 98%+, 84 million coin hard cap, 2.5 minute block time average, and hybrid SoV + cheap trx cost value proposition symbolize the scarcity, demand, flexibility, and value of silver.
This is why sovereign nations, banks, citizens, and merchants can easily recognize both Bitcoin and Litecoin as the hardest, most secure, and most identifiable tandem to replicate the millenia long desire for money backed by tangible assets...but now in digital and highly liquid, transferable form.
ETF's for other digital assets, public ledgers, and products of those products will exist, but only two can ever be identified in the manner described above.
Bitcoin and Litecoin
@BlackRock @vaneck_us @BitwiseInvest @SECGov @hashdex @POTUS @davidsacks47 @paulatkinsx @HesterPeirce @EricBalchunas @matthew_sigel @JSeyff
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