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When to Trade Litecoin vs Bitcoin (w/ Charlie Lee)

Charlie Lee, creator of Litecoin, joins Michael Green of Thiel Macro to talk about how his background led him to digital currencies. Lee sees bitcoin as a better form of gold, and litecoin as the equivalent of silver in a new digital monetary system. This clip is excerpted from a video published on Real Vision on June 22, 2019 entitled “Behind the Creation of Litecoin.” Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Watch more by starting your 14-day free trial here: https://rvtv.io/2RCNua8 About The Creators of Crypto: What is the future of money? Pioneers in the cryptocurrency space share their views on what opportunities and risks lie ahead in the brave new world of money. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with original content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Twitter: https://rvtv.io/2p5PrhJ Instagram: https://rvtv.io/2J7Ddlw Facebook: https://rvtv.io/2NNOlmu Linkedin: https://rvtv.io/2xbskqx Why Litecoin is Silver & Bitcoin is Gold (w/ Charlie Lee)    / realvisiontelevision   Transcript: For the full transcript visit: https://rvtv.io/2RCNua8 MIKE GREEN: And so, are you ambivalent between the idea of an alternative currency in the form of gold versus Bitcoin? Or Litecoin? Or is it do you see the need for an electronic version because of the challenges of gold, transactions, et cetera? CHARLIE LEE: Yeah, definitely. Gold is great. Government can't devalue it. It's fixed supply. But the problem is their storage cost. And then, if you want to transfer it, it's not easy to transfer gold cross country, across borders. But something like Bitcoin and Litecoin, it has pretty much all the good properties of gold except it's not physical, and then you can store it cheaply, and you can transfer it cheaply. It's just a better form of gold. MIKE GREEN: So, one of the challenges that I always look at when I look at this idea that it's a better currency, there's a school of thought that says currencies are about the efficiency or the ease of use, which definitely crypto and even arguments behind things like electronic gold or gold script, et cetera. By and large, attempt to address certainly our credit based system is much more associated with the ease and facilitation of transactions. But there is a second role, which is the role of the state, which has a monopoly at least under current constructs on violence and the enforcement of contracts as it relates to those currencies. How do you think about crypto addressing those dynamics and the transition process, in which the state will ultimately have to forfeit that monopoly? CHARLIE LEE: From my point of view, I don't think the state needs control of money. Money is just a way where people can transfer and store value. There's no reason why the state needs to have control over it. I've only recently have we do we have like the concept of fiat currency where the state has control over it? For throughout history, we've always used things like gold and silver as real money, as ways to transfer and store value. And I think Bitcoin will help us get back to that better way of people using money.