Litecoin, Like Monero, Lamely Attempting To Reinvigorate Dying Use Cases With Useless MimbleWimble SIDECHAINS


Chris Dev

October 24, 2019

Amidst today’s crypto bear market – that like all before it, will return to a bull phase when despair peaks – few are paying attention to the most important long-term fundamental issues.

In Bitcoin, the upcoming halving is being ignored – and technology-wise, the most revolutionary discovery in crypto history has for the time being, been forgotten. That is, unless you consider the growing number of code developers devoting their time to MimbleWimble applications.

Most coins are useless to start with - whilst others’ use cases, once considered viable, can fade. Litecoin is a perfect example – as there don’t appear many “Bitcoin testnet” scenarios in the foreseeable future. As are essentially ALL “privacy coins” – as in the unfolding MimbleWimble Age, everything from Monero to ZCash will be rendered useless.

Monero’s very non-private leader, Fluffy Pony, admitted so much earlier this year – when he started building a MimbleWimble based Monero sidechain; and now, master marketer Charlie Lee is trying to reinvigorate interest in the coin he not only founded, but sold his entire position in – Litecoin – by associating it, too, with MimbleWimble.

The problem is, that the sidechain implementations Monero and Litecoin plan – assuming they even get built – do not bestow the benefits of a true first layer MimbleWimble blockchain…like the one utilized by MWC, whose MainNet will launch November 11th, with airdrop claims commencing a month later.

In his latest article, MWC Lead Dev Chris Gilliard discusses how sidechains are second layer, voluntary solutions – that prevent true privacy and fungibility, as few people will actually use them. In ZCash, for example, less than one half of one percent of all transactions are actually private – which makes it comical that it is actually considered a “privacy coin.”

Additionally, privacy coins are ALREADY less scalable then even Bitcoin, given the large amount of date required for private transactions. Thus, sidechains actually reduce scalability further, by adding more data to be downloaded – so essentially, sidechains, REDUCE a coin’s value.

So, for those interested in understanding just how value-added MimbleWimble is, the first thing you need to understand is that unless it is a FIRST LAYER, MANDATORY feature, it is useless.

In my view, the pace of MimbleWimble development is so rapid, that by this time next year, significant amounts of capital will flow into “MimbleWimbleTrinity” coins MWC, Grin, and Beam – as they are the only true first layer implementations.

Moreover, MWC’s superior financial traits (scarcity, and a HODL dividend) make it by far, the most attractive investment – particularly for loyal BTC holders, who will shortly receive 30% of the total lifetime supply in the MWC airdrop they registered for this summer.

The MWC airdrop registration ended July 19th, with MainNet launch scheduled for November 11th, 2019, and claims on December 11th, 2019. A total of 148,474 Bitcoin registered – roughly 1% of the entire BTC float - yielding an MWC/BTC ratio of roughly 40.41. For more information, please check out the MWC website, Discord room, Twitter feed, and Telegram Forum.



3 minutes ago by andyhoffman (61)