is like going going to take over the world and become the global standard for all commerce I’m Sam I am and we’re gonna talk about it so in my last video I put out a you know kind of a report that our study a news article that pointed to a study that showed litecoin development has fallen off and I tweeted about that on Twitter asking one of the developers you know is this true and you know here’s the graph showing this is from 2015 all the way to January of the US January of 2018 19 so you know it’s really shown a steep decline and there’s you know other data now what they can’t kind of came back with was ah well the a lot of the development work is done so now it’s being litecoin is being developed in Bitcoin core so that’s why you know some of them have dropped off one of the actual developers got back to me and said if you look at it over the year that it’s 40 verses 40 for the year before and they’re in our release candidate rc1 right now of dot 1 7 and dot 1/8 hasn’t even been announced yet so they’re that’s why there’s nothing going on you know a lot of plausible reasons but then at the same time I’ve got other people saying no there’s there still should be some commits even if they’re just tags going into the core code so and they’re not so yeah is it falling is it not all I can really say is just kind of keep watching it and we’ll we’ll see over time but I had an interesting discussion here and it’s on Twitter I’ll put the link in the description there’s if you guys anybody wants to go and read you know some of the back and forth most of it was pretty civil and cordial some people were complete jerks as usual but eventually we got to well you know why do you think litecoin is is going to you know be the winner here and I was pointed to this article now this is by I allure Gashi if I’m saying his name right who’s the same one who posted he wrote an article here we can go back here explaining why the report defeating the FUD multi coins report on litecoins use case and he’s you know doing all these debunking things and i think this is maybe the tiffany hayden of of the litecoin community but here he’s got six reasons why litecoin is the best so we’re gonna read these i think this is a good way to approach it and kind of talk about it and I’m gonna kind of compare and contrast it with other coins in the space and also talk about XRP and ILP and XR PL because I think that’s an important discussion I think that’s something the litecoin community really doesn’t comprehend so he starts off with his number one reason here the duality of nature and I’m not gonna read this whole thing let me make it a little bit larger so you guys can kind of see but essentially what he’s talking about is gold and silver so for those of you that weren’t around when like going first came out the pitch was well Bitcoin is digital gold and litecoin is digital silver so you should hold some of both and that was kind of at the time like claim was I don’t remember I think it was like two or three dollars and Bitcoin was ten fifteen somewhere in there and that’s what he’s kind of going through here and he’s pointing out bitcoins 21 million like Quinn’s 84 million they used different algorithms which gets will get into mining so once a you know bitcoins a GPU mining whereas like coins a CPU mining centric technology the block time for Bitcoin versus like coin is you know a factor of four difference so like going puts out more blocks which means it can process more transactions per second than Bitcoin but you know we’re going to talk about that and they both work on the same sort of proof-of-work mining technology which is a huge flaw you know it’s Bitcoin it’s it’s the Napster of digital music is what proof-of-work is and we’re gonna explain that but right now every block so every two-and-a-half minutes 25 light coins are released every 10 minutes 25 bitcoins are released to whoever produces the next block and the problem with that we’ll get into it is they’re using a lot of resources in order to generate those blocks and so that has to be sold okay and then there’s the dates so he’s showing you know price comparison and so forth and that’s kind of the his first point which ok I guess but how does that set it apart from Bitcoin cash or any of the other Bitcoin Forks because there’s a lot of them out there there’s Bitcoin gold Bitcoin time and Bitcoin this that and the other thing and you know none of them are really significantly different than the others ok now he gets into mining and he talks about CPUs versus GPUs which I just showed you and here’s the problem with mining so you know these blocks are being produced but in the case of Bitcoin they’re using enough electricity to more electricity than a lot of small countries out there so what happens is when those when those bitcoins come out they’re immediately sold so that new money that’s coming in to Bitcoin is constantly being sold to pay electricity bills and over time the block reward as they call it gets cut in half now it’s years out before it goes away but I I can’t remember what it I think it’s 12 and a half now whereas it used to be you know 25 or whatever it was and it will have again some years down the road and when that happens if the price is not high enough then guess what the miners are in trouble and when Bitcoin dropped to below I think it was about 5,000 that this started it was it was apocalypse for a lot of the miners I mean here’s some videos bit main is one of the big miners these are all the mining rigs every one of these little boxes here is about 2 grand ok so 2 4 6 8 10 12 14 16 18 20 thousand dollars on that one little section of shelf there that’s probably 6 feet and you can see how many rows there are and of course you know 2 years later those were obsolete so a lot of them they’re hash rate is so low that they’re not even worth plugging in because they consume more electricity than revenues that they generate so it is not it you know is it’s it’s thin thin margins and when the price crashes you know this guy put out a video here that was just really sad I mean he he built this business where he let people ship their mining rigs in he rented the space did the management of it and charged a fee and he you know he built up these big water fans to keep it cool in this giant warehouse that he rented and the price of Bitcoin crashed everybody pulled their rigs his his building emptied out and you know he had to close it down and that was it was curtains for him and his business and there’s been several of those and that’s because it’s a very inefficient expensive method proof-of-work where your mining blocks in order doing all this work and consuming a lot of electricity to keep the network running and guess what when those block rewards come you know eventually run out now that’s years down the road but it’s gonna happen where are they gonna get the money well fees are gonna go up so and let’s look at that for a second here I think I’ve got a diagram right there so here is a comparison of speed costs scalability so litecoins down here on the bottom you can see it’s 12 minutes for a transaction the the best one of course is XRP it’s three three three to four seconds generally between blocks eventually that’s going to become probably sub one second with the introduction of cobalt bitcoin is 45 minutes theorems for almost five minutes BCC I think that’s Bitcoin cash is an hour – is 15 minutes like coins 12 minutes okay if you’re ordering something online 12 15 minutes it’s probably fine but if you’re going to lunch and you’re trying to pay for your lunch and get back to work and you get to check you pay it and then you have to sit there for 12 minutes before the merchant gets your payment confirmed that’s not gonna work it’s just not gonna work in bitcoins even worse there’s only one here that’s even reasonably suited for commerce for consumer level retail applications and that’s XRP and you know that of course there’s alternatives to this that there’s a ways to speed it up there they’re probably screaming the litecoin and bitcoin fans but lightning Network but lightning Network well let me tell you lightning Network has been eighteen months from being ready to go since 2015 okay and it’s still 18 months out from being ready to go last time I saw when they said it was ready any transaction over I think it was twenty dollars had a 90 something 90 plus percent failure rate so that is not a suitable solution for any kind of global payment system there are Bitcoin maximalist out there who just think that bitcoins gonna magically without any company behind it take over the banking system and I’m sorry that’s just delusional and litecoin you know that you get some of that same sentiment well the light coins better because it has these advantages well okay let’s look at those advantages so their fee is 12 cents which is you know good unless you’re streaming a movie or something and you’re doing micro payments then 12 cents could be you know a factor of 10 or 20 or 50 over what you’re actually streaming for the content so that’s not gonna work – is 40 cents Bitcoin cash 21 cents aetherium is about 50 cents Bitcoin it’s same as a dollar eighty eight but when the network gets busy those fees go to twenty dollars and the wait times go to hours two days I’ve had a transaction take more than three days I mean it was several days in the height of the last the last kind of boom cycle and it just it gets ridiculous there’s it’s not a viable solution now here’s the other problem of course XRP is oh well is that four hundredths thousandths of a penny so if you’re streaming content and you’re your pain for streaming content that’s a very small fee that you can be can be added on there and of course there’s ways to batch that up and so forth and make it even cheaper so Bitcoin one of the big problems is the 16 transactions per second so at the start of this current I wouldn’t even call it a bull run but price rise there were like 40 he was 40-something thousand unconfirmed transactions and mempool waiting to be processed by the network at sixteen transactions per second max so you know that’s not even reasonable aetherium is the same Bitcoin cash they went with the bigger block size and changed some things so 24 transactions per second – is at ten and like coins at 56 which is you know in the in the group of all the other proof-of-work algorithms it’s not terrible it would probably handle the retail traffic for like Iowa of course it would get backlogged in the day and have to catch up every night and on weekends but once you expand outside the size of a state like Iowa then you know it’s not really feasible anymore oh but Lightning Network I know I know but let’s look at XRP right now they’re at fifteen hundred transactions per second and they have payment channels which have been around for a while and they’ve tested those 250 thousand now that’s Hardware bound so they could add more computers and test it to 75 or a hundred thousand and you know that seems like a much more feasible solution visas Network I think processes 50,000 TPS so that’s a you know that’s a good range kind of ballpark to be in and of course you can set up multiple payment channels all over yeah add as much hardware as you need to make those happen very very very scalable compared to everything else out here okay let’s go back so there there’s the that’s the problem with mining is you’ve got so much money coming out to pay to run the network to mine the network and when those rewards stop the fees go up and in a big way and it’s just gonna be crazy you know that doesn’t I’m not against Bitcoin or litecoin or any of these other proof-of-work algorithms I just don’t see them as the long-term solution that’s going to replace the banking system as the maximalists would have us believe be it Bitcoin or litecoin or Bitcoin cash or any of them they’re one dotto technology okay let’s keep going though so the number three reason to use or that litecoin is so great why litecoin here’s six reasons is that it’s a Bitcoin test net okay so what he points out here is that you know Segway was introduced on litecoin first it was controversial they weren’t sure if it was going to work Bitcoin has test nets but there’s no dollars attached to so there’s not as many hackers trying to hack that the test net as there are the Bitcoin live Network and litecoin being a lower value it’s used as a test net to implement some of these features first and you know when I hear that to me that doesn’t say oh man that’s where I want to store my money somebody that’s using it to see if it’s gonna be hacked or not just that that makes a zero sense to me but they’re saying well do you get new features first and this and that but okay but if you’re testing them and they end up costing me money that’s that’s not really a not really an advantage as far as I see it okay number four in his list is atomic and submarine swaps now an atomic swap means if you have multiple entities in a payment chain that the whole payment goes through or none of it goes through so it’s all-or-nothing kind of deal nobody can say can halt the payment and keep the funds and walk away with the money so it’s a good feature it’s something that that ripples had implemented since I think 2015 ish maybe 16 so you know they just got around to it like what last year or the year before was seg Witt great job guys and submarine swaps is something I’ve kind of along those same lines there I guess they’re used in conjunction and what he’s what he’s pointing out here is that if you’ve got a vendor with a submarine swap you get this special wallet and if you have a vendor who only accepts Bitcoin then you can send your litecoin and they will get an invoice in Bitcoin wow that’s amazing isn’t it okay that’s great but ripple wrote this thing called ripple net and then they handed it over they realized if this is going to be the global standard we’ve got to include more people into the mix here and so they took ripple net rebranded at the inter ledger protocol I LP and they hand it over to a little organization called the w3c which is the standards body for the internet and what the ILP does is it uses atomic swaps and it uses something called payment pointers now a payment pointer is I have one for my channel it’s a text string that I can send to somebody or embedding code and all I would have to do is set up how I want to get paid so if somebody and the ILP is really the glue that connects all of these disparate bitcoin litecoin networks cryptocurrency networks together and allows them to interoperate that’s why it’s the inner ledger protocol it sort of brings them all together and allows them all to interoperate so if I’m a vendor or something I’m selling something it doesn’t matter if somebody wants to send me Fiat or cryptocurrency Bitcoin litecoin Tron what XRP whatever it doesn’t matter it also doesn’t matter what I want to receive those funds and I can set it to say I only want Bitcoin I only want litecoin I want X R P I want stocks I want barrels of oil I want diamonds it doesn’t matter you can get paid in whatever you want because the ILP are basically the X R P L allows you to have gateways and essentially what those do is they allow you to sort of issue they’ll issue you a token and you can redeem that with them for some kind of physical asset what a stock a barrel of oil a cryptocurrency whatever it is so you know by having all of that gosh this is a complex topic topic so I hope you guys are following but essentially with a payment pointer you can specify this is how I want to get paid and then the xrp ledger XR PL which is it’s a decentralized exchange that’s built into the XR P protocol the network that runs X R P so that’s something I think a lot of people also don’t understand about ripple and why it’s it’s such a leap above anything else that’s out there you can issue anything you want on the the XR PL and so if somebody wants to send you you know somebody wants to represent gold and issue credits for that they can do that and you can trade it and you can create rippling relationships where you know it can get it could get really complex I don’t want to go into turn this into a X or PL class or anything but essentially there’s so much more flexibility there than people realize that enables this kind of this kind of send whatever you want get whatever you want capability and litecoin guys are sitting here saying well you can swap like coin for Bitcoin there you go problem solved and while ripple has already set up a network where you can swap literally anything that somebody represents on the blockchain for anything else somebody represents on the blockchain and it doesn’t matter it all happens behind the scenes the network finds the most efficient exchange possible that exists and you know it just works in the background so ok great that that’s not you know you guys doing Bitcoin to litecoin is not really a significant advantage that sets Bitcoin in a class apart from everybody else in the space and I’m not saying bitcoins terrible at all or litecoin is terrible they’re just they’re one auto technology you know in terms of digital music Napster they’re still around you can still go and set up an account on Napster comm and you can look at this play unlimited music music to power your brand how many of you in the last month or year have been to Napster comm or use their service and now let me ask you how many of you have used Spotify Pandora Apple music Google Music any of the other streaming music services that are out there and I bet that’s probably this people that have gone here probably less than one percent and it’s probably more than 90% that have used one of those music services that’s because this was one dotto technology it was groundbreaking it was amazing you know I was one of the early users but now there’s so many more options out there that are far superior to Napster it doesn’t mean Napster’s going has gone away it’s still here Bitcoin is still going to be around and like one’s still gonna be around years from now but are people going to be using it or are they going to be using to not oh and XRP is 2.0 okay and the reason is because it functions in a different way it doesn’t so let’s go back to proof of work for just a minute there’s this thing called the 51% attack where if you have more than 51% of the miners mining the blocks then you can basically rewrite history and give yourself somebody else’s coins XRP doesn’t work that way it uses consensus and you if you you don’t get any rewards for running a node in fact the fees that are paid to X Arpi actually get burnt so by its nature XRP is a deflationary currency because a small portion you know these 0.2 0.0 0.8 interest in the network and right now we’ve got there are universities running validators there are you know Microsoft is running one Amazon is running one there are all kinds of banks running running validators the list goes on and on they’re spread out all over the world they’re across all different entities or industries and so it’s a very different landscape if you want to make a change to the code it has to be approved by I think 80% of the node operators so for you know like one industry to one of take the network in a certain direction it’s not going to fly because you’re you have such a diverse user base and group of people running the validators it would be nearly impossible to hijack the network whereas with Bitcoin you know any government with the resources could do it in China they’ve got more than 51% of the mining power if the government comes in and orders the two companies over there running the miners to you know do this attack well guess what they’re gonna do that attack and that will be that with XRP that doesn’t exist because it doesn’t use proof of work it burns the fees the people running the network do so because they have a vested interest in using it not profiting from it and with every one of these other ones in the list they’re all running the network because they profit from it and that means the new money coming in it’s burned to run the network and goes into these miners pockets and when that runs out guess what the network becomes far more vulnerable because a lot of those miners are gonna close up shop period okay adoption litecoin is one of three crypto currencies to be listed on every major exchange and wallet offering okay I but I bet X or peas in there too but whatever this makes litecoin highly accessible and liquid to get in and out same is true of Bitcoin XRP aetherium Bitcoin cash a lot of these litecoin processes 1 billion in volume daily so there’s XRP generally works as a global decentralized sound money today ok but so does Bitcoin so does Bitcoin cash so you know that’s not you it doesn’t really differentiate itself from this very crowded field nope and it can’t be reversed or taken away or counterfeited and it can’t be devalued well the price crashes it gets devalued that’s true of all of them even XRP so you know he’s saying well like going to spent 7 years successfully integrating and getting there you know getting use cases out there and getting people to adopt it you can sell thousands on a specific exchange and not crash the market ok great you can do that with you know most of the currency cryptocurrencies out there especially in the top 10 so again what’s the differentiator why is litecoin gonna be so much better and kind of just run away with it all guys that’s what I’m asking here they’re saying oh 9 new merchant processors and 5 debit card providers ok well I bet if you went through this list most of these would also be on XRP I know wyrex it has an X or P card so does revolt let’s see coin payments you they you know they process for Bitcoin litecoin Bitcoin cash is about a dozen crypto currencies their incentive to add as many as they can technically so again what’s the differentiator and of course XRP has been integrated with WooCommerce so all of these small payment processors and and source shopping carts and stuff that websites use can now accept Bitcoin our sorry XRP you know the list goes on so that’s where it ends you know he’s saying it’s it’s continues to grow globally with a focus towards mainstream adoption and I’m sorry I just don’t see it you know proof of work is the Napster of digital music it’s it’s the one dot o of cryptocurrency and XRP for a number of different reasons is 2.0 and you know it’s just getting started what you’ll be able to do with XRP five years down the road is far different than what you’ll be able to do today but I think that gets lost the whole concept of the inner ledger protocol and the the decentralized built in exchange X or PL and how you can create assets and represent those assets and exchange them for you know whatever you want it’s a granted it’s not there today but the capability and the functionality is built-in and so as the ecosystem develops it becomes more and more useful that in a way that you know really just doesn’t even compare with where to go with what we’re seeing here where they’re talking about submarine swaps that will let you swap between two bitcoin and litecoin okay that’s great but uh you know what if I’ve what if I’ve got a theory of what if I’ve got bananas you know whatever it is so that’s that’s why I don’t see litecoin succeeding and becoming this global standard you know if you look at what ripples done they’ve got connections and they’re having meetings with the World Bank with the IMF with hundreds and they have over 200 banks already signed up using ripple net now that’s mostly for X Current which doesn’t leverage XRP yet of course the bankers are conservative they don’t want to get fired they don’t want to get fined and fired and their career ended so they’re kind of held hamstrung by regulation as the entire crypto industry is currently but the functionality is there so that when they’re comfortable and they want to save another 40 percent on their cross-border payments they can change the setting in the code or in a config file and all of a sudden it will start utilizing XRP the functionalities already built in to X current to X rapid don’t even know what those are and you’re sitting running around talking about how litecoin is going to take over the world or bitcoins gonna take over the world man yeah you’re you need to rethink your premise folks because none of those organizations have a business who’s going out there talking to banks interface interfacing with the current system to bridge it all together and make it all function and interoperate now that doesn’t mean that X RP is gonna be the only one there will always be specific use cases that where you know different coins fit in I like the holo project and what they’re doing building the decentralized Internet and they have a hot token that is basically kind of a closed loop to fund the hosting providers to you know make the whole thing work so the hot token I think is going to be used there I can’t see XRP you know making its way to take that Oh ecosystem over there’s casino coin where they basically do the KYC AML they kind of decentralized kyc an AML cheques and then your wallet gets certified and then you just go to any gambling or gaming site and use it and the companies who accepts casino coin don’t have to bother with kyc AML I think there’s potential there and the list goes on you know that there’s privacy you know XRP is not private at all and we need a strong privacy coin where you can’t see your trans shins and balances where other people can’t see your transactions and balances monaro I think is the leader in the space a lot of people like Apollo but I think it tries to be everything and it’s I just don’t see that project succeeding over the long term Manero is really I think the leader currently but I like what elixirs doing I think they are gonna blow away you know they’re gonna be mine arrows 1 dot oh it’s a proof-of-work algorithm as well elixir is going to be privacy coin 2.0 and I think it’s gonna be a very very successful project and I would expect it to be in the top three maybe top five coins over the next few years because it has a specific use case and XRP will bridge them all will interoperate all of them and make it work and that’s what a lot of these Bitcoin litecoin X coin whatever your coin is maximalists fail to understand and comprehend is that Bitcoin will be Z sorry X RP and ILP will be the glue that builds all this together so when you need to change between them x RP is gonna be the go-to asset okay long one hope that made some sense and explain some things I did my best I’ll catch you guys next video [Music] you