Proof of Profit: Litecoin vs. Dash


So listen, I feel like we should be
honest with each other… really sit down you know? We’re friends now, we can be
honest right? We didn’t all get involved in cryptocurrencies… for the technology.
Turns out there’s money to be made day trading cryptocurrencies! So this video’s
for the traders, especially those of you who are new to the market. Today
I’ll cover two coins and let you know which one I would be buying if it were
my money on the table. Keep in mind that these are just my opinions and I am NOT
a regulated financial adviser. You should always always do your own research
before you you know take out a second mortgage and send money to Internet
strangers. Do. Not. Do that. Okay so Light Coin or Dash… which one’s better? So both of
these are decentralized payment networks or digital cash which is actually where
Dash… “digital cash” got its name. Here are a few key takeaways that I’ll
tell you about. For one Litecoin in my opinion is a better long-term bet than Dash.
Two, litecoin bought a stake in a bank which is a huge deal. Now they didn’t buy
it outright we’ll get into the details a little bit later and I’ll post some
resources into the video description. And three, Dash is trying to save the world or
at least Venezuela. So how old do these projects and who started them?
Charlie Lee, an ex-Googler, started Litecoin in October of 2011 so that
makes it one of the oldest cryptocurrencies currently in active
development. Evan Duffield created Dash over a weekend in January of 2014. It was
originally called X coin, then dark coin and later changed to Dash (or digital cash).
All right, so let’s get down to the good stuff.
What do we know about Dash? Well Dash is a copy or a fork of the Bitcoin codebase. So
both projects are trying to accomplish pretty similar things but Dash was the
first project to add master notes which add an extra security layer into the
projects. What’s a master note? It’s a computer that’s running 24/7 to process
both privacy and instant transactions on the Dash blockchain so that means it’s more
decentralized than something like a EOS. You could earn money running
a masternode but to do that you would have to lock a thousand Dash coins into a
wallet. As of July 22nd you need a cool 225
grand but you could just sell your Lambo right? Now what’s going on in the world
of Litecoin same deal as Dash it’s a fork of the Bitcoin network with a few
changes made. For example blocks are processed every two and a half minutes
instead of the ten minutes that it would take on the Bitcoin blockchain. If
Bitcoin is digital gold then litecoin is digital silver that means that there’s a
limited supply of litecoin and it kind of weighs less than gold or Bitcoin
because you can send it faster and for cheaper fees like coins tied closely to
the Bitcoin network it’s kind of a more experimental version. Bitcoin is the
Beatles and litecoin is Radiohead. Two massive changes to the software called
Segwit and lightning Network we’re both tested on Litecoin first
so it’s seen as kind of a market leader for improving things. Now why should you
care? are these projects doing anything useful? Yes both of the teams working on
these projects are doing things worth paying attention to
litecoin just joined into a partnership with a crypto project called TokenPay
to buy a 10% stake in a German bank called WEG Bank AG. You heard me right
they bought up Bank. See, companies in the cryptocurrency world are struggling to
open bank accounts in a normal finance world because bank tellers don’t
understand how these companies are run. So litecoin’s hoping that they can offer
bank services to other cryptocurrency projects and financial products like
checking accounts and debit cards etc etc. if even just a handful of crypto
groups started paying their developers with litecoin checking accounts the
value could go through the roof And what is Dash up to? Trying to save Venezuela’s
economy from collapsing no joke, the Dash community is voting on
four different budget proposals to send over a hundred thousand dollars in Dash
coins to Venezuelan grassroots activists These activists are teaching Venezuelans
how to download and encrypted wallet to their mobile phone and then pay each
other with it. You see Venezuela is in a really really
bad spot right now their economy is seeing hyperinflation that’s so bad
their currency is almost worthless and the Dash project whole thing is community
engagement you know teaching merchants and businesses how to transact using
crypto currencies so if a small minority of Venezuelans are able to learn this
new technology they’ll actually be able to protect themselves and their families.
But as a trader which coin do I like more and why? Well if I were buying coins
and holding on to them for a while Lite coi’ss the one that I would pick. Dash is
also a strong bet, and since both of these teams have been around for more
than four years I don’t think that they’ll be running off the caimans with
your money any time soon. but the litecoin foundation has made some huge
moves to get like when adopted by the entire currency industry and when the
value of a project goes up the price usually follows it but money aside I
love seeing the Dash community do something good for the Venezuelan people it’s easy
to forget this with all the crypto hype but we really have the opportunity to
empower people and lift them out of poverty. Tell me what you think? is Dash a
better investment than Lightcoin which two coins should I cover next week? Let
me know your thoughts in the comment section like and subscribe for more
weekly crypto breakdowns and I’ll see you next time on Double Time.

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