Litecoin to be the future bitcoin???
Litecoin, so far seems to be steady. I've been hearing some speculation that litecoin could be the future Bitcoin. but is it true?
Bitcoin and litecoin are similar in a few ways, but there are some things that separate the two. First, Litecoin has a lifetime cap of 84 million coins, which is four times higher than the total number of Bitcoins that can be mined. This means that as demand increases, there will be a larger supply of Litecoins to meet it, at least initially. Which could be a great thing.
Another possibilty of why litecoin can be the future bitcoin is the block generation time. First, bitcoin has a block generation time of 10 minutes, while litecoin has a generation time of 2 and a half minutes. And this ensures that any transactions envolved with litecoin will be much faster than bitcoin, which is way more practical. (which could be a life saver)
Also, SegWit is already active on the litecoin network...So keep that in mind as well.
Now, litecoin is more practical than bitcoin in many ways, like I just listed, but another way its more practical is it is easier to mine....but is it going to be the future bitcoin? Thats the question I have been asking myself for a while...So far litecoin has been steady in price...but we'll see what happens.
Feel free to comment down below and tell me where you think litecoin will go in the near future. thanks for reading my post, and you are the best! Best regards,
You're post about ETH and Putinwas the first ever steemit post I read and it's what directed me to join steemit.com from a twitter post about 2 months ago. I want to thank you. I am following you! Great content, well done :)
Thanks. Im glad to be helping people. Followed u as well!
Thanla for brongong @wishmaiden alex :) nice post as well!
nice post, i am going to follow you. Good job
thanks!
I've been a litecoin elitist for a long time... You can't believe how pissed I was when Ether dropped a while back and I was just like "what the fuck, why is this more expensive than litecoin!"
Hodl hodl hodl
lol
I think we might see something coming up in the near future. Charlie Lee @satoshilite (twitter not steemit) has said that he knows his coin is a bit 'flat' at the moment but to hang tight as he will be implementing some interesting thing in the near future.
I might also add, in Canada they have just implemented 50 Litecoin ATM's which is a bit step forward for Litecoin. (They can also do Doge and Dash If my memory serves me correctly) But its a big step forward for Litecoin.
I hope litecoin surpasses bitcoin
Im not sure it will surpass bitcoin. But it might overtake for everyday use. It depends on what the supply and demand for these things are. A tell tale sign is bitcoin has 21million total cap. And litecoin is 84mil total cap. Which theoretically should lend itself to a 4:1 ratio. But it all depends on what kind of value people place on these things. That saying with th 4:1 ratio if BTC is 3415 USD then litecoin should be at 853 USD by current evaluation. Maybe its undervalued. Who knows. :)
It's not designed to surpass btc in per coin value, as @alhoppo says below 4:1 is expected value, it's supposed to be the silver to btc's gold. That said, I think it's more undervalued than btc.
What if Litecoin forks and we have Litecoin cash?
that would be cool
This is well written pretty dope!!!!
The problem with Litecoin is that nobody is using it. The most transactions it ever did in a day was 27k, while Steem is doing over 800k transactions per day, Bitcoin over 300k and Ethereum also over 300k. Even if you exclude all transactions from Steem bar the most basic transfers, Steem did around 28k transfers yesterday, more than Litecoin has done transactions in any day.
What do you have when there's $2.5 billion tied up in buying it on the markets but nobody is actually using the network?
Its because people are buying litecoin and holding onto it.
Holding alone does not make a currency. To take that step you have to have both widespread commerce AND widespread holding. Litecoin is severely lacking in commerce.
sure, but the more people hold the more it will be worth more. Thats the reason why the price is pretty stable when it comes to litecoin because people hold.
Holding alone, with no utilitarian function is not stable when there's an event that causes widespread need to cash in their liquidity. Commerce is the cushion against such events, if it doesn't come in the long run then you may as well be investing in a pyramid scheme.
I don't know man...Litecoin is still an awesome coin. It's just for now not many people are exchanging actively because people are holding onto it until it skyrockets.
What exactly is awesome about it that isn't available in other coins with better network effects?
What is awesome is it is a stable coin price wise and has good patterns. Just because the majority doesn't exchange the coin doesn't mean its bad. Many places in canada have litecoin atms, as well as many places here in america do as well. It is a growing coin with awesome potential. Keep and open mind. That is why I don't only invest in litecoin, never keep your eggs in one basket.
I believe that Bitcoin, Litecoin, and Digibyte will all stack upon each other eventually and dominate the means of transaction niche.
Bitcoin, Litecoin, & Digibyte are all 1st gen cryptos, have Segwit, will eventually have atomic swaps between them. Gold, silver, & pocket change for means of transaction (reserve, daily, & change for daily).
Check out Control-Finance. Daily payouts in Bitcoin! https://control-finance.com/?ref=scottig311
This spreadsheet will show you daily/weekly payouts based on your
investment.
https://drive.google.com/file/d/0B6zMVwCQvwyWcVhiY01YdTduczQ/view
Cool! checking it out