If the above reference doesn’t resonate with you, then you are jejune. Fraught times, those, and with frightening overtones of which we are now heirs
To return to earth, I have taken up with my first card: blockcard. If the ltc foundation sees good in it who am I to argue? It’s a puzzle. When i fund this card I am exchanging my hard-won ltc for a ( does shitcoin apply here?) token called tern. Is this not a step backwards in my quest? Yes, and no. I favor the thought of furthering crypto adoption, which this appears to do, but I have locked up my precious, ltc, and now hold terns - a bird in the hand....? I seem to risk downside in the arbitrage swap of floating ltc against floating tern, or it might somedays turn out to be upside. The same occurs when I spend my tern; is a tern token worth more, or less, when I convert to $usd. than when I swapped ltc for it? Since I will lock in enough tern, 145,000, to reap the 6%+ return on spending reward I have some buffer here to even things out. I will have locked-in about $1k to achieve this. I can handle that.
That’s just the odds and ends of my considerations here. Not exactly earth-shattering. It’s the first card I’ve gotten to use on a daily basis, and I wanted you to see my thinking. What this post is really about is a question I have about scalability. Ltc will scale much better with upcoming additions like lightning, but will still lag. Now if visa, and yes this is a visa debit card, can scale at a rate that makes it actually efficacious at the point of sale, how can tern not be scaling at a commensurate rate since its conversion to $usd is happening at that instant at the p.o.s.?
If tern can scale at that rate using ltc, or btc, etc., why isn’t this the solution to the scalability problem? I am sure i am missing something basic here. It doesn’t make sense that to me that by going thru tern ltc instantly scales at multiple thousand transactions/sec. Does this not mean the scalability issue is solved and we can go mainstream with crypto right now? I am sure it doesn’t - so tell me why not. Keep it simple, guys (non-gender specific here). If your explanation gets very complex I will expire of old age, I am pushing toward 80, before I “get it”.
I know some of you will think this hybrid approach is evil incarnate, but if it pushes crypto adoption I want to have my shoulder to that wheel