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Tuesday, October 4, 2022

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 do your own research before you you know take out a second mortgage and send money to Internet strangers. 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 an EOS. You could earn money running a master node 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 were 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.

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 an encrypted wallet to their mobile phone and then pay each other with it.

You see, Venezuela is in a 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 cryptocurrencies 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 cow’s 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 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 Litecoin 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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