Is Litecoin The Next Big Play?
You see I'm from an era where there was pretty much three to five cryptos. There was bitcoin the gold standard, doge coin a meme coin never suppose to be worth anything, Ethereum came a bit later and Litecoin the silver standard to bitcoin at the time.
This was mainly because if you really wanted to trade and swap then litecoin was the place as the transactions were a little faster and the fees were lower compared to the likes of bitcoin.
Since then Litecoin did hold the silver standard spot for a little while until Ethereum took off in 2017 and the litecoin founder sold his bags at the ATH for litecoin.
Since then the litecoin market has never been the same but in the last few months it's been regaining popularity once again.
The price action on Litecoin has actully been rather healthy and the speculation coming out is that Litecoin will get it's own ETF. Now I gotta be honest I think it's going to be one of those speculation to sell the news events when and if it happens. But of course I could be wrong. Long term though I believe tokens that do have ETFs will perform better and become the main stream blockchains as swaps into other RWAs happens.
- This article is for entertainment purposes only and not financial advice. Do your own research before investing and understand the risks. Also take responsibility for your own actions.
Litecoin hasn't had many updates over the years but the one that it did and stands out is the privacy for payments section that runs with the main blockchain. With a 2.5 minute block compared to a 10 minute block of Bitcoin you can see what litecoin was heavily used back in the day.
However with more advancements from other blockchains litecoin has mainly fallen off the radar but to many old school crypto people like myself it's still though of as the silver to bitcoins gold even though it's kind of lost it's luster over the years.
What LTC Has Going For It
The main thing LTC still has going for it is it's often paired with bitcoin still like it has been from the start of time. This piggy backing has set litecoin in a rather good spot over the years and continues to be a rather large value for bitcoin and in many cases still looked at as a great pairing option for bitcoin itself.
Litecoin also has the age battle tested factor with it as well. Being a old blockchain that has stood the test of time and is battle hardened unlike newer options like Solana etc which continue to have issues and blackouts. IDK about you but if a blockchain was solid and decentralized there shouldn't be any type of blackout, rollback etc and that's what makes a lot of people fearful of these other options that are more centralized.
Litecoin Roadmap
Now while the founder did sell off all of his litecoin at the ATH of 2017 and many people hated him for it. It most likely was a good long term play as having one person holding a large stock is a security and money risk as one person could crash the price.
The Litecoin roadmap also gives us an idea in terms of speed of scaling.
The first is that a litecoin ETF approval is most likely going to happen at some point this year.
It's also been rumored that X money or Elon's payment system is going to be crypto ready by end of this year and could in fact house Litecoin as one of the primary options.
WLTC is a wrapped version of litecoin that has been launched on the Ethereum network.
Outside of that there's work being done to integrated LTC easier into wallets but funding for the project is actully rather small. However that could drastically change if one of these core projects really take off for the asset.
So what are you thoughts on LTC? Is it something you'll be adding to your bags?
Posted Using INLEO
Litecoin has a bunch going for it, not mentioned here. One being that it is merge mined with DOGE, so when you are mining one, you are mining and getting paid in both. This increases the strength of both networks. It also helps the ASICs that mine it keep their resell value. Unlike BTC where every halving and every upgrade kills the previous machines and tanks their value, DOGE/LTC miners do pretty well at keeping it. LTC deals with a halving like BTC, but DOGE does not, so it keeps that miner value going.
Also, LTC now has optional privacy features with MWEB (MimbleWimble Extended Blocks) that can be used from the CORE wallet, or now with the Cake Wallet. I hear others are going to add it in the future as well.
In my opinion, the best thing for LTC was Charlie selling his coins. That takes that 'Satoshi' sized wallet out of the equation really. He even said it had nothing to do with the fact that he didn't support it, he is the creator and didn't want his wallet having the same stigma and hold over the price as Satoshi's.
I own more LTC in dollar amount than BTC, by far, because it's works great, it's fast, and it's CHEAP to transact with. It's my 2nd largest holding behind Monero outside of Hive. I can spend it in all the same places that you can spend BTC, but at a fraction of the network costs, so I get to keep more of my coins.
Just my input on one of my favorites, lol.
If you look at the hash rate, transactions, and price since launch, then you will see that LTC has had a slow but steady increase, as they say "up and to the right". It hasn't had the parabolic move of BTC. However, it has fared much better than BCH, which does pretty much what LTC had already addressed, such as lower fees and higher transaction volume.
One thing that is easy to forget is that LTC has four times the amount of coins as BTC. If LTC had 21 million coins like BTC, it would be around $488 per coin.
In terms of usability, Litecoin is better suited for small transactions than Bitcoin, which is great as it allows for transactions smaller than the cost of moving BTC.
I think the biggest challenge for LTC is from stablecoins, which run on faster networks with low transaction costs. However, stablecoins are subject to the same inflation as fiat. To me, it makes more sense to use LTC for spending money.
I find that it is easier to send frequent small LTC deposits to my hardware wallet for savings than to save up to send bigger BTC deposits. Sending $5 of LTC is mentally easier than sending $100 or more of BTC.
I am totally focused on Hive but I should start looking elsewhere as well, and LTC sounds interesting after reading your post. I will think about it
!hiqvote
@libertycrypto27, the HiQ Smart Bot has recognized your request (1/3) and will start the voting trail.
In addition, @bitcoinflood gets !COFFEE from @hiq.redaktion.
For further questions, check out https://hiq-hive.com or join our Discord. And don't forget to vote HiQs fucking Witness! 😻
Litecoin triggers my PTSD from the 2018 crash.
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.
LTC is an old veteran which is always ready for intercourse. And for the same reason my biggest bags of crypto always rely on LTC for the best performance in the face of suddenly romances and unexpected close encounters of the third kind.
Nice to see it do well, used to be my go to coin because it worked very well.
Litecoin is an old project but this has not done any innovation so its most likely not going to grow as we have many new chains better than LTC
Thanks! Reminds me to go and see if there are any dregs left in the old LTC wallets! 😀
https://www.reddit.com/r/litecoin/comments/1izu68f/is_litecoin_the_next_big_play/
The rewards earned on this comment will go directly to the people( @loading ) sharing the post on Reddit as long as they are registered with @poshtoken. Sign up at https://hiveposh.com. Otherwise, rewards go to the author of the blog post.
!PIZZA
$PIZZA slices delivered:
@danzocal(1/10) tipped @bitcoinflood
I've always been a fan of Litecoin and I too am from the early Charlie Lee days of Crypto and Litecoin
Bearwhale nostalgia 😁
Cheers mate!
In 2017 Litecoin was defined as the silver of the crypto market. Then over time it lost its popularity. With this post, however, you have catapulted my attention again on this project, one of the first alternatives to Bitcoin.