Charlie Lee

So if Bitcoin is considered digital gold and Litecoin is, you can imagine, think of it as digital silver where it's cheaper, transaction fees are lower.

You can use it to buy coffee or meals without having to pay a huge transaction fee.

And you would use Bitcoin more as a store value and for larger purchases.

So as you can see, like today, Bitcoin transaction fees have gone up considerably.

It's sometimes a dollar to even $10 to send a Bitcoin transaction.

And it's definitely worth it for people.

I mean, people are using it.

People are paying that transaction fee to send Bitcoin transactions because Bitcoin is still the most decentralized and secure and censorship resistant cryptocurrency out there.

So if you're paying millions of dollars to buy a house, you definitely want to use Bitcoin because you get the most security.

If you're just buying coffee or buying a meal, you're happy using Litecoin even though it's less secure.

It's still extremely secure in terms of cryptocurrency and it's also decentralized.

And it's fast.

So that's kind of like my vision of seeing Litecoin and Bitcoin working together to fulfill the needs of cryptocurrency transactions.

Yeah, it's a good analogy.

Another analogy that people can think of is Bitcoin would be your savings account and Litecoin would be your checking account.

So you would keep, for long-term store of value, Bitcoin is definitely, well, arguably better.

And Litecoin is better for day-to-day use.

2011.

No, this is before I even joined Coinbase.

This was when I was at Google.