Charlie Lee Understands The Power of Mimble Wimble!
The reason I’m so excited about MimbleWimbleCoin, or MWC, is because more than a year ago, it was apparent how game-changing this developing crypto technology could be. Few in the Bitcoin community acknowledge it as a threat – as “unquestionably,” all crypto technologies are Testnets that will ultimately be subsumed. Which may well be true, as Bitcoin’s size and strength is such that, it is not unreasonable to believe it has already “won.”
That said, “won” is a subjective term – as even it Bitcoin remains the dominant cryptocurrency, that doesn’t mean new, revolutionary technologies can’t succeed, too. Perhaps, in parallel; and perhaps, as true BTC competition. To that end, when I see Bitcoin’s catastrophic price weakness, I ask myself if in some way it’s due to fears that MimbleWimble technology will one day become direct competition…just as I ask myself the ultimate impact, if any, of the SHA 256 Hash War between Bitcoin, BCash, and SV.
In the case of MimbleWimble, it truly is revolutionary technology; i.e., blockchain protocol enabling far superior scalability, fungibility, and privacy. If it existed ten years ago, Satoshi would unquestionably have made it Bitcoin’s own; but unfortunately it wasn’t, so if it doesn’t become direct competition, it will have to be incorporated - likely, many years from now - via complex sidechain technology.
Currently, few are paying attention, given how the price decline (to levels below mining cost) is all most care about. And secondly, scaling – which, for all the hype about Lightning Network, is difficult to see at the moment. Perhaps this is simply due to low trading volumes – as currently, Bitcoin’s largest use by far; but perhaps not. Only time will tell, of course.
I have had little interest in Litecoin since Bitcoin SegWit locked in, but one thing LTC does have is a level of nimbleness Bitcoin doesn’t. Ironically, it’s founder and leader Charlie Lee no longer owns any Litecoin – under the (in my view, faulty) premise he can’t promote it without conflict of interest. However, he unquestionably is working hard to build its reach – and ultimately, enable LTC to rise above the .01 BTC price trap it’s been stuck in for years.
https://medium.com/beam-mw/mimblewimble-litecoin-cooperation-2f0631825ba9
Thus, the fact that since Beam and Grin launched last month, Charlie Lee has been VERY vocal about incorporating MimbleWimble into Litecoin is no coincidence – as indisputably, he is attempting to associate Litecoin with the hottest, most revolutionary cryptocurrency technology.
The fact that Litecoin has essentially all of Bitcoin’s scaling, privacy, and fungibility issues will likely be ignored (for now); though unquestionably, LTC’s flexibility – i.e., Charlie Lee’s continuing influence – could enable this technology to be incorporated into Litecoin; albeit, in a far less practical way that MimbleWimble itself; far faster than Bitcoin could ever imagine.
The point here, is that MimbleWimble technology will very likely play a major role in cryptocurrency’s development in the coming years – and thus, failing to acknowledge it could be a fatal investment decision. This is why the MWC airdrop – of a superior store-of-value MimbleWimble coin – to BTC holders is such a fortunate, and opportune, scenario for Bitcoin investors.
Stay tuned, as Bitcoin airdrop registration begins April 20th, ahead of the July 19th snapshot. For more information, please check out the MWC website.