Why do people trust Litecoin? | Litecoin Сlub

Why do people trust Litecoin?

Why do people trust Litecoin?

People used to believe the money backed by financial commitments. However, the currency is still regularly fed them during the "Black Tuesday", "Black Monday" and others not the best of days. Litecoin in this respect is much more convenient and safer:

1. They can not be arbitrarily "to reprint" devalue denominated and so on. There is no person or group of people who could manage the entire system at once.

2. Litecoin not tied to a country or organization, so it can not happen, political or economic events, because of which the currency is devalued or will cease to be valid.

3. Network Litecoin - peer and open. It is possible to control movement rates online. At the same time the personal data of those who transfer money from account to account, it is impossible to obtain.

Unlike national currencies and their derivatives, the value is not guaranteed Litecoin gold, oil or other resources. It is not guaranteed and securities or other assets. Talking is primitive, we can say that Litecoin valuable insofar as it is trusted. Of course, it is not about verbal confidence, and an encryption algorithm.

Trusting Litecoin you trust a world-class network, which operates a lot of people. Some of them may be unfair, but he will not be able to get all the computers and disks of the world where the files are stored purses. The situation is the same as that from the torrent: the information is verified on a regular basis, and the only way to distort it to their own advantage - to crack more than half of all involved nodes (called the attack 51%). However, this is not practical, so we can say that Litecoin - not to crack the system.