20190430-Bitcoin Ben-IOTA loses to BTC/LTC and Lightning Network


Bitcoin Ben (IOTA will lose to BTC/LTC and Lightning Network)

-IOTA using their Tango technology lacks the market capitalization and availability of the general public to implement this type of ecosystem.

-It’s not well known outside the crypto community.

-It is NOT a blockchain .   Some might think it’s a good thing.   But it’s not in an blockchain ecosystem.

-It will be replaced by Lightning Network –a second layer of BTC blockchain.   By itself, it is not blockchain.    it is a technology that runs on top of BTC blockchain.

-Lightning Network is connected to BAKKT that is run by a company called ICE.  ICE is the largest clearing house for the derivatives in the world.   ICE also owns the NYSE.

-The key is that ICE and its BAKKT project is going to inject liquidity into the BTC market.  It is going bring $$$ into the crypto market/ecosystem.

-Rumor is that in the beginning BAKKT will offer BTC, ETH, LTE, BCH.

-Once BAKKT is launched, it will add liquidity and velocity to the BTC ecosystem.

-Lightning Network will allow 1 million transactions per second.   It’s instantaneous !  

-IOTA will be replaced by Lightning Network node-  that is basically a wallet.

-IOTA does NOT have the liquidity that BTC’s have.   So once BAKKT is launched, you will see liquidity like you have never seen before!

-When BAKKT is launched, the BTC price is going to go way up.   People don’t realize how few BTC there are.

-In the future, there will be mini Lightning Network Micro Node, it’s not invented yet but it will.   This is what will replace IOTA.   It will be tied to the strongest blockchain in the world that is BTC.

-IOTA is centralized and relying on the stability of USD as a reserved currency.   But USD might not retain its reserved status.

-When USD lose its trust as the world reserved currency, people will turn to BTC/LTC.

-The difference between LTC and BTC is they use different programming language.  Charlie uses SCRIPT because it is more processor friendly therefore faster.   Ben means it’s faster to mine LTC than BTC.  

-LTC code will run much more efficient than BTC code.   For example, LTC will run much easier on cell phone than BTC.

-We have a war between BTC and altcoin.  BTC needs to scale down and the altcoins need to scale up.  BTC needs to be scaled down to be used as micropayments and Lightning Network is the solution.   The altcoin’s problem is they don’t have the liquidity or the big community like BTC.

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