This article was previously called “Does Litecoin’s MimbleWimble progress matters? — (1/…)”
Agnostic. Litecoin is not hyped at the moment. In fact, the value of Litecoin is about to reach the lowest LTC/BTC correlation price of all times. A lot of people are wondering, why Litecoin can’t keep up with BTC/ETH hype?
By doing so, people are describing the success of Litecoin only in terms of price. Of course, price matters. For instance, Bitcoin is achieving massive adoption because of the continuous progression of it’s price. But this is not the only key to describe the success of the concept of the blockchain technology.
Let’s face it, Bitcoin would never reach any value if there wasn’t people willing to take the risk of using it.
So let’s study not only the people who were buying pizza, but also people who were using, by the time, an uncertain money technology to make real trades.
The first adopters, like people from Silk Road (marketplace) — 2011 to 2014, they didn’t took the risk to prove Bitcoin was indeed a ‘cool technology’. They were not BTC evangelists nor were making marketing decisions to make BTC more ‘usable’.
They were using internet to make real trades of different types of products, among illegal stuff, and trying to achieve a broader and less risky operation.
Bitcoin here was being used as a mean, not as an end. It’s been used exactly how it was supposed to, as agnostic as possible to what is been trade. In other words, this is a feature, not a bug.
