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DISCUSSIONWhat's the deal with Litecoin? (self.CryptoCurrency)

submitted by MoneyGrubbingMonkey

I'm admittedly not too well versed in the crypto world but have been watching on and off since I was a kid.

I remember getting some litecoin during the old bitskins csgo days and Litecoin stood side by side with bitcoin back then (in terms of relevancy not value).

Entering the crypto scene now though, the prices seem to be night & day, and conversations online don't really seem to discuss it all that much. Even the recent halving, quite literally, almost cut the price in half.

I'm most likely missing a great amount of context here, but while doing research on the topic I wasn't able to find anything "wrong" with Litecoin.

It seems to follow the same high-low trends as every other mainstream coin on the market, so why is it still so low despite its longevity?

Why did BTC and ETH rise to the prominence they are right now but LTC got left in the dust?

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[–]CointestMod0 / 0 🦠[M] [score hidden] stickied commentlocked comment (3 children)

Litecoin pros & cons with related info are in the collapsed comments below.

[–]ManekDu 28 points29 points  (2 children)

I'm loading up on Ltc since reddit is anti LTC

[–]generic_reddit-name 4 points5 points  (1 child)

That's been my thought process too.

[–]Familiar_Television10 / 0 🦠 0 points1 point  (0 children)

X3

[–]Sixtricks90516 / 516 🦑 11 points12 points  (1 child)

I bought some LTC for the halving, so the price dumped. Sorry everyone!

[–]itsmezh93 1 point2 points  (0 children)

Stop buying I need its price to rise

[–]searchingtruth1 18 points19 points  (3 children)

LTC is a great old dog. Used it a fair amount and always does its job well.

[–]The_Lombard_Fox 8 points9 points  (1 child)

I consider LTC to be the RC Cola of crypto. Always gets the job done but never given the credit it deserves

[–]searchingtruth1 2 points3 points  (0 children)

Indeed...RC Cola is tasty, need to go track down one to sip on soon.

[–]ThatChrisGuy7100 / 100 🦀 1 point2 points  (0 children)

That’s important actually. It’s reliable and cheap

[–]soyelvorph 8 points9 points  (2 children)

It amazes me to see LTC trading at the same price it was in 2016, however the only fact of transactions speeds and fees is what I'm still using it to send money abroad.

Hope it surprises some day so I can caah out a little and buy a very nice Whiskey.

[–]MoneyGrubbingMonkey[S] 3 points4 points  (0 children)

Same here, it was the first piece of crypto I ever owned so I would very much love a surprise during a future bull market lmao

[–]Sugarbird676738 / 738 🦑 2 points3 points  (0 children)

I think LTC is facing competition from stablecoins for normal payments, bitcoin outcompetes it as a store of value, and DNMs use monero, so it doesn’t dominate any use case.

[–]Bucksaway03 38 points39 points  (27 children)

LTC is considered an ALT and it's a bear market so it bleeds more than BTC and ETH.

[–]Shiratori-3284 / 17K 🦞 34 points35 points  (9 children)

Unfortunately LTC took the recent halving literally 🥴

Literally went to half price.

[–]simplicity922K / 2K 🐢 3 points4 points  (1 child)

So the next halving will break its price again Looks like a good time to own some LTC before the next halving.

[–]JuggaliciousMemes 4 points5 points  (0 children)

the rally leading up to the halving was nice, the dump immediately upon the halving was a lesson in psychology

[–]mesutdmn23K / 68K 🦈 8 points9 points  (2 children)

halving in price 🤣

[–]dark_deadline0 / 5K 🦠 4 points5 points  (0 children)

Litecoin thinks he is HIM (bitcoin)

[–]FlashyAd80820 / 907 🦠 3 points4 points  (0 children)

Oh my god🤣

[–]vremains 2 points3 points  (0 children)

But it doubled leading up to it, I learned a long time ago, buy the news, sell the event. Everybody who was excited about the halving knew it was coming and had already bought their share before it even happened. Besides, the halving won't affect the price till months later... same with BTC.

[–]NinjaAssassino 1 point2 points  (1 child)

F

[–]forthetorino0 / 4K 🦠 1 point2 points  (0 children)

F

[–]ElegantShelter79473K / 3K 🐢 4 points5 points  (4 children)

OK but ETH is an ALT too!

[–]C-Class_hero_Satoru0 / 629 🦠 3 points4 points  (3 children)

Bitcoin is Gold, ETH is Silver. ETH is behind only because it was released after Bitcoin, but from technical point of view it's better, and one day it can become Gold.

LTC idea was to be Lite version of Bitcoin, but it never aimed to compete or replace Bitcoin.

[–]ElegantShelter79473K / 3K 🐢 0 points1 point  (2 children)

So even when ETH flipped BTC, it will stay an ALT! You say it, ETH was released after BTC.

[–]C-Class_hero_Satoru0 / 629 🦠 1 point2 points  (1 child)

oin, but from technical point of view it's better, and one day it can become Gold.

LTC idea was to be Lite v

Oh okay I got what you mean. So the question why LTC bleed more than ETH, ETH is simply better project and has more trust

[–]ElegantShelter79473K / 3K 🐢 1 point2 points  (0 children)

Yes, this is what I think too. The trust in ETH is big, but I think LTC isn't bad too and it do what it should do. It's an btc lite version, where someone with an average income can afford 1 LTC without taking an loan. In my opinion BTC, ETH, LTC and some ALTS are a good mixed portfolio.

[–]reddit4485861 / 861 🦑 8 points9 points  (0 children)

Litecoin is one of the first cryptos after bitcoin so it's been around a while yet still a top 20 crypto. It's founder, Charlie Lee, often calls it the little brother of bitcoin in that it's supposed to enhance rather than compete with bitcoin. It has more distribution and faster confirmation times. In addition, many of the new ideas implemented into bitcoin were first tried out in litecoin (e.g. atomic swaps, segwit, etc.).

[–]lucashcy_97Permabanned 7 points8 points  (0 children)

All ALT is bleeding right now 😢

[–]BreadnPaper0 / 3K 🦠 3 points4 points  (1 child)

Everything is falling 🤷‍♂️

[–]Yautja690 / 15K 🦠[🍰] 2 points3 points  (0 children)

Oh so just another day in crypto

[–]C-Class_hero_Satoru0 / 629 🦠 1 point2 points  (0 children)

Actually the idea of Litecoin was Lite Bitcoin

[–]risingcrow1o1 4 points5 points  (0 children)

Looks like I’ve lived to see the day where ETH isn’t an alt

[–]Kappatalizable 4 points5 points  (4 children)

OP forgot we are in the middle of the bear market lol

[–]MoneyGrubbingMonkey[S] 12 points13 points  (1 child)

More so just wanted to clarify its presence as a whole in the market.

Personal bias made me forget it's still an alt coin and not as significant outside of those that want cheaper transactions

Learned a lot though by asking a dumb question so that's a W in my book lmaooo

[–]Kappatalizable 11 points12 points  (0 children)

not as significant outside of those that want cheaper transactions

This is definitely it. Litecoin has one purpose and it does it wonderfully. Other alts are hyped because they claim to do a lot of different things but they mostly fail to do so efficiently

[–]ShotCryptographer5230 / 10K 🦠 8 points9 points  (0 children)

Yes. In the 2019 bear, LTC was around $39 at its low, and now it is $63 in this bear. It is about correct for this time.

[–]NinjaAssassino 3 points4 points  (0 children)

At like 3/4

[–]NinjaAssassino 2 points3 points  (0 children)

Bleeds like a wild buffalo

[–]Ninjanoel359 / 2K 🦞 7 points8 points  (0 children)

recent LTC halving was priced in long ago, it was a buy the rumor and sell the news type thing

[–]Slippytoe0 / 5K 🦠 5 points6 points  (2 children)

On paper Litecoin seems like BTCs brother, arguably better because it’s cheaper and faster. The most prominent difference is the max supply at roughly 4x higher… but for some reason it just won’t gain traction. That being said, it’s been around forever and it’s still here so it’s got some legacy factor going for it.

[–]DrinkMoreCodeMore0 / 15K 🦠 2 points3 points  (1 child)

I think because so many more crypto projects have came out while LTC has not really had any new developments or changes that are worthwhile.

LTC used to be one of the only other cryptos but now its just another one in the sea of tens of thousands.

I think it will always be in the top 50 tho and I still use it from time to time.

[–]REI33 0 points1 point  (0 children)

It basically merged grin (privacy coin) into itself last year. Adds a lot of scale and privacy... more significant than any bitcoin update to date imo

[–]Silver-dutch0 / 6K 🦠 17 points18 points  (1 child)

This a coin that stays in the shadow, and when the bull hits its starts pumping like crazy and you regretting for missing it

[–]harkt3hshark2K / 2K 🐢 4 points5 points  (0 children)

Totally agree.

[–]madridgalactico 4 points5 points  (0 children)

No hype. Ever since I’ve been in crypto, it’s always been the boring coin in the background

[–]keithwee0909 3 points4 points  (0 children)

I feel that a lack of conversations about Litecoin is a reason, other than it seems that if I recall right, the core team sold off quite a bit at ATH too.

[–]purplevoiletduck 19 points20 points  (16 children)

It’s a legacy coin, used to self titled as digital silver, its all went downhill after the founder sold at ATH

[–]BrocoliAssassin 6 points7 points  (3 children)

That sucked..LTC is one of the OG coins I thought would have been right up there with BTC/ETH.

[–]iworkisleep14 / 2K 🦐[🍰] 3 points4 points  (0 children)

It achieved all time high in 2021

[–]keithwee0909 1 point2 points  (0 children)

a pity in a way, but I feel it is hardly worth the interest now too.

[–]MoneyGrubbingMonkey[S] 0 points1 point  (0 children)

Same, it's tough that it doesn't scale up

[–]smallbluetext4K / 9K 🐢 6 points7 points  (5 children)

Yep it's never achieved the same level of interest or volume since he sold at the end of 2017 or early 2018 right at the peak. He even tried to cushion the blow by announcing it publicly but of course most saw what he was doing and understood he was cashing out his retirement and calling it a day. This is why it's so great Bitcoin doesn't have anyone as the face of it. Nobody can tank its reputation in that way.

[–]Olivia512347 / 347 🦞 1 point2 points  (3 children)

Satoshi is the face of Bitcoin. We just don't know his true identity.

[–]smallbluetext4K / 9K 🐢 0 points1 point  (2 children)

Exactly. And unless Satoshi signs a transaction and releases a selfie, it never will.

[–]Olivia512347 / 347 🦞 1 point2 points  (1 child)

So...it might be a ticking time bomb?

[–]smallbluetext4K / 9K 🐢 0 points1 point  (0 children)

Yes and no. Bitcoin value currently partly relies on the fact that Satoshi is anonymous. If they were to announce who they are, it may have a massive impact on price. Depends who they are, but just knowing at all will cause certain people to sell.

[–]REI33 0 points1 point  (0 children)

The volume (on chain) is wayyy higher than back then. The price, not so much

[–]TheOneWhoCared 3 points4 points  (1 child)

the founder sold at ATH

So not one of us?

[–]NOtangibEL 7 points8 points  (0 children)

I think his reason was that no one can say he in it to pump his own bags.. but yeah ironically he only made it worse

[–]ChriptopherPlatinum | QC: LTC 114 | TraderSubs 110 1 point2 points  (1 child)

People tend to ignore all of the founders that premine their token to make themselves rich and VB that sold around 70k eth at about the same time.

Charlie Lee sold to make Litecoin more decentralised.

[–]ptrnyc186 / 186 🦀 0 points1 point  (0 children)

His timing was one the greatest calls in the history of crypto though.

[–]Every_Hunt_1604K / 98K 🐢 2 points3 points  (0 children)

its all went downhill after the founder sold at ATH

A story as old as time

It seems like a lot of coins with 'good tech' are hampered by their founders simply cashing the bag.

Ain't matter how great the tech is, if the founder is dumping his bags!

[–]jam-hay7K / 7K 🦭 0 points1 point  (0 children)

Yet he's dedicated his life to the project and probably one of the most committed and supportive founders in crypto history.

Just many of the crypto thicko's didn't get he was selling to remain impartial and not be accused of trying to pump his own bags.. He never new it would be a high, who does? It made a new higher high afterwards anyway.

[–]forthetorino0 / 4K 🦠 3 points4 points  (0 children)

I like it. I don’t care if Charlie sold. I sold too.

[–]reddorical0 / 0 🦠 3 points4 points  (0 children)

3 steps:

  1. look at the all time LTC/BTC chart
  2. Buy bitcoin
  3. Forget about litecoin

[–]Dr_Strange_Love_ 5 points6 points  (0 children)

That’s why it’s undervalued and will appreciate a lot in value soon. Hash rate in all time highs as well. Will explode

[–]Harucifer28K / 28K 🦈 6 points7 points  (2 children)

Starting point is the creator dumped his stash at over $250 per coin in 2017 bullrun.

[–]MoneyGrubbingMonkey[S] 2 points3 points  (0 children)

Oof didn't know about this, makes a lot of sense that people lost hope when the creator himself jumped ship

[–]jaydub1376845 / 858 🦑 0 points1 point  (0 children)

This…this is the inflection point.

[–]Kappatalizable 33 points34 points  (23 children)

Read the title in Seinfeld's voice:

So whats the deal with Litecoin? Its not light, and its not a coin. So why is it called Litecoin?

[–]F-machine357 / 2K 🦞 6 points7 points  (2 children)

I suspect kramer would argue on that one that it is a coin

[–]alltimecards5K / 4K 🐢 5 points6 points  (1 child)

Bob Sacamano definitely made his own coin that ended up being a rugpull

[–]kirtash930 / 148K 🦠 2 points3 points  (0 children)

In his defense I will say that he already looks like a scammer. In this case it is the clients' fault.

[–]cats_dont_wear_pantsPermabanned 20 points21 points  (13 children)

The real shame is that replies like these are generally useless and still get upvoted to the top.

Litecoin having merged mining with Dogecoin killed it. Litecoin miners simply dump their bags for Doge because it’s more profitable and has a better chart. LTC/BTC has been down only for close to a decade. It’s the most pitiful chart in existence. Every time there’s a halving, it becomes more expensive to mine with fewer rewards, it has one small pump in a dying breath and dumps even harder (exacerbating the aforementioned issue with decreased mining emissions), slowly bleeds against BTC for 4 years, dumps even harder.

This is why LTC is the way it is. Charlie Lee dumping was certainly a nail in the coffin, but the LTC/BTC chart is literally death. You have to be a masochist to trade this. And seriously, if you’re going to make shitposts referencing Seinfeld, keep it in the daily thread.

[–]MoneyGrubbingMonkey[S] 4 points5 points  (4 children)

Oof I was under the impression that both doge and LTC benefited from the merge but it makes sense in hindsight.

Tough to find out all the issues faced by the project. Still do hope some miracle bull run hits at some point.

[–]cats_dont_wear_pantsPermabanned 6 points7 points  (1 child)

I don’t even know if I’d bet on it breaking USD ATH at this point, or if it does, it’s after a heavy bleed out against BTC. LTC is unequivocally fucked on long time frames. Miners would simply rather have DOGE than LTC so it has infinite sell pressure and the rewards suck. There are far better assets to invest in, new PoW shitcoins with increasing hashrates that will inevitably become the next “ETH killer” because they’ve chosen to corner a PoW subset of the market as a value proposition, and miners need to point their GPUs (serving as paperweights now) at something. Or maybe even rollup governance tokens, or gambling tokens, anything with a narrative behind it. I just have serious reservations that LTC will ever be a winning asset. Orphaned by the creator, Bitcoin’s “silver”, other coins actually have a bid lol. It’s just not a EV+ trade. And I wish it was because I've revenge traded LTC's halving a number of times in the past.

[–]FlashyAd80820 / 907 🦠 0 points1 point  (0 children)

LTC's challenges and changing market dynamics do make it a tough bet for future gains; but exploring more promising narratives might be a wiser investment strategy.

[–]FlashyAd80820 / 907 🦠 -1 points0 points  (0 children)

It's always a good idea to stay informed about the projects you invest in. A miracle bull run can happen anytime.

[–]F-machine357 / 2K 🦞 0 points1 point  (0 children)

I wont sell mine at this low price but definitely wont hold on to it forever if nothing changes.

[–]HitEmInTheDingDing148 / 148 🦀 1 point2 points  (0 children)

100% nailed it. Perfect summary of LTC.

[–]FlashyAd80820 / 907 🦠 1 point2 points  (0 children)

The market dynamics can be harsh, and investors must stay informed and cautious.

[–]houseknicker 0 points1 point  (1 child)

nothing but the truth

here's dogebtc, ltcbtc, and dogeusd/ltcusd on tradingview

https://imgur.com/a/WKmdI6K

disgusting

[–]cats_dont_wear_pantsPermabanned 2 points3 points  (0 children)

Tradingview? That’s a rare sight on this subreddit. If you go even further back on LTC/BTC on something other than Binance, it’s even worse. The generational top was Charlie Lee dumping it but imo merge mining DOGE is what truly killed it. The dog coin is simply more profitable.

[–]FeeeFiiFooFumm0 / 111 🦠 0 points1 point  (3 children)

I've now heard twice about the merged mining but I don't quite get it. Can you ELI5 how it works?

[–]Fooshi20200 / 571 🦠 2 points3 points  (2 children)

Both LTC & DOGE are mined using the same algorithm Scrypt. This means that an ASIC miner, which can only mine a single algorithm by design, can mine both of these assets. That is known as merge mining.

Add for WHY that is bad for LTC I'm not quite sure.

[–]FeeeFiiFooFumm0 / 111 🦠 0 points1 point  (1 child)

Does this mean if you mine LTC you also get DOGE automatically?

[–]Fooshi20200 / 571 🦠 1 point2 points  (0 children)

Yes... If you are mining in a pool that supports merge mining. And DOGE is more profitable to mine at the moment.

[–]Shiratori-3284 / 17K 🦞 5 points6 points  (0 children)

Well, it does have fewer calories - I guess that's true. I'll give it that. No one got fat on a diet of these lite coins

... And so it continues

[–]JGCheema 3 points4 points  (0 children)

Not lite enough.

[–]wheelzoffortune43K / 35K 🦈 2 points3 points  (0 children)

Lol same

[–]MoneyGrubbingMonkey[S] 2 points3 points  (0 children)

Oh god I can't get it out of my head now

Every notification I get from this post is just going to be in Jerry Seinfeld's voice from now on

[–]TotalBeefcall702 / 701 🦑 3 points4 points  (0 children)

That's gold, Jerry! Gold!

[–]TheOneWhoCared 1 point2 points  (0 children)

Its heavy in the bags!

[–]dosiled 2 points3 points  (0 children)

I’m a bit confused reading some of comments in this thread regarding C.L’s sell off in 2017 attributing to investors losing confidence or lacking faith in the coin post sell off.

I am definitely a noob but serious question; the charts looked good in the 2021 bullrun. No new ATH, but not too far off. Was this just Litecoin following the market trend in the ‘Alt season’? Or is there a correlation with some faith/confidence in the project by holders/traders?

I feel like the fundamentals of the coin are pretty cool & I wish for the best for Litecoin. I can also see why it would be shunned from the sell off. But I personally think Litecoin is better off without C.L’s stake being held over it like a black cloud.

[–]Still_It_From_Tag 6 points7 points  (5 children)

Isn't Litecoin the same as Bitcoin but faster?

[–]forgotmypassword47143 / 57 🦠 6 points7 points  (3 children)

Yeah in a just world, LTC would already be an accepted form of payment everywhere.

[–]Givefreehugs 2 points3 points  (1 child)

I actually think it’s accepted globally now too. It’s just cheaper and faster. Who knows what the future will be once people get over their hurt feelings about C.Lee selling. Adoption and use are both rising because of the low fees, but unlike bitcoin- we know who the founder is and that there is no large pre mined stash. That means the SEC has less to worry about.

[–]forgotmypassword47143 / 57 🦠 1 point2 points  (0 children)

Exactly, I'm always pleasantly surprised how fast it is to move after mostly buying and withdrawing BTC. There are sexier and more hyped up options out there as far as alts go, but I'll always keep coming back to LTC just because it deserves to be invested in (and used).

[–]Olivia512347 / 347 🦞 1 point2 points  (0 children)

2 seconds like a visa transaction?

[–]DrJekyll_UK 1 point2 points  (0 children)

Created by some of the same devs involved with BTC I believe.

[–]roadbowler 10 points11 points  (5 children)

I much prefer using LTC than BTC...its faster and cheaper.

[–]maskedbrush1K / 956 🐢 4 points5 points  (4 children)

I use it too for withdrawals etc. It's cheaper to convert to LTC, transfer and then convert again to USDT, EUR or anything else

[–]IanfinityXD 1 point2 points  (3 children)

What about XLM? Pretty much the same case since most exchanges accept it, no?

[–]maskedbrush1K / 956 🐢 0 points1 point  (2 children)

yeah, the exchanges I use have usually a lower volume in XLM than LTC, so it's a bit more "dangerous" to instant trade them

[–]wayfarer88881 / 241 🦠 0 points1 point  (1 child)

Isn't XLM the one that is asking for an address and some transaction memo on top? I vaguely remember that, I found it annoying compared to other networks.

[–]maskedbrush1K / 956 🐢 0 points1 point  (0 children)

I don't know, I remember WAX asks for a memo but only when depositing to Binance, because they use a single wallet for all deposits

[–]epic_trader3K / 3K 🐢 4 points5 points  (2 children)

The founder Charlie Lee sold all his Litecoin at the height of the 2017 bull run which pretty much caused people to lose faith in the project.

Edit: Sorry LTC holders?

https://finance.yahoo.com/news/satoshi-nakamoto-move-litecoin-founder-charlie-lee-sells-litecoin-135946800.html

[–]iworkisleep14 / 2K 🦐[🍰] 3 points4 points  (0 children)

Don’t be sorry, there was profits in 2021 and will be next one too. Buying low when everyone shitting on it is good

[–]ShailMurtaza0 / 0 🦠 0 points1 point  (0 children)

Is it possible that his sole goal was to make some money? I mean when it reaches at good price then he just sell.

[–]kofi175Permabanned 1 point2 points  (0 children)

Same thing happened after the previous LTC halving. Its price dropped significantly (I think more than 40%). Same thing might happen this time around.

[–]ParadoxSebx 1 point2 points  (0 children)

It just had its halving

[–]KingVandalo 1 point2 points  (0 children)

The pump after a halving comes 6 months later approx

[–]raynold12345 1 point2 points  (0 children)

  • Jerry Seinfeld

[–]ACE415_1K / 1K 🐢 1 point2 points  (0 children)

Litecoin is a cheap, useful currency

[–]monkeybombed 1 point2 points  (0 children)

I had Litecoin in the beginning and got burned pretty bad when it was cashed out near the ath at the time. I feel like I've never recovered fully after that and i still have not bought it back even when I saw it dip.

[–]Pibo1987 1 point2 points  (0 children)

Thank you for bringing that up. In my ignorance, I have been thinking of investing a little bit in LTC, but in light of these discussions, no thank you (although, if I understand the rule correctly, if this sub is shitting on a coin it’s probably gonna go to the moon sooner or later).

[–]Popular_District9072 1 point2 points  (0 children)

it pumped a bit before the halving, but then took a deep dive along with the rest of the market, losing about a third of its pre-halving value

[–]Consistent_Many_18580 / 20K 🦠 1 point2 points  (0 children)

Lite coin went half after the halving.

[–]RelevantGur 1 point2 points  (0 children)

I like Litecoin but don't hold it currently, maybe before the next bull run I'll buy a bit and hodl but I don't know if it will have as much upside potential as some other alts, that being said I do like seeing some in my portfolio but usually tend to swap it out. This is crypto though so anything is possible.

[–]B1llyzane 1 point2 points  (0 children)

We’re in a bear market op 👹

[–]randallnewton 1 point2 points  (0 children)

If I want to move value, like from one exchange to another, I use Litecoin. Inexpensive and fast. Price is irrelevant because I'm only holding it for a few minutes.

[–]Calibased 1 point2 points  (0 children)

Nothing really. Just an ancient coin with old liquidity. The founder killed it by selling off all his positions.

[–]Square-Purpose-5493 1 point2 points  (0 children)

She'll pump but shes keek!

[–]Jcdefore89 / 89 🦐 1 point2 points  (0 children)

Wasn't it created to solve BTC issues? For instance, things like TX times, fees, and throughput. BTC has improved all of it now. LTC is kind of pointless now imo.

[–]imihevc 1 point2 points  (0 children)

People just dont apreciate enough how LTC is secure, simple, accepted everywhere, fast and cheap to transfer.

[–]JuggaliciousMemes 1 point2 points  (0 children)

litecoin just doesn’t have “hype”, it does what its supposed to but theres nothing making people excited about it, like a Honda, it drives but its nothing fancy, it simply does what it should

LTC was having a nice rally leading up to the halving and everyone was singing praises about it to pump their bags and then everyone dumped it HARD after the halving. That was purely driven by hype.

If LTC had a marketing team that tried to make litecoin seem like the next revolutionary eth killer moonshot gold mine rather than a payment system, maybe LTC would be more popular. But Im glad they aren’t doing that, it shows that not everything in crypto is corrupt and obsessed with face value

If fundamentals mattered in this current market, LTC would be much higher. Lets hope fundamentals start to take precedence over hype

[–]SmallReflection2552 1 point2 points  (0 children)

Litecoin is a curious coin. There are lots of these kinds of cryptos that do exactly the same thing. They all struggle to set themselves apart.

[–]Omadaz 1 point2 points  (0 children)

Litecoin is amazing. Does what crypto is meant to do. It’s the OG underdog.

[–]EuphoricBasil1 4 points5 points  (2 children)

The original shitcoin. The founder was too late to get into bitcoin on the ground floor, so he copied its source code, changed it a little and slapped a new badge on it. Ta da: “litecoin everyone!”

Charlie selling it all at ATH was his plan from the very beginning. Like every other shitcoin founder he was in it for the money. Luckily for him he faced no real competition at the time so he got plenty of investment from people who didn’t know shit about fuck in the world of crypto. No one did.

Ever since, people with heavy bags have claimed that litecoin is legit and has a real place as the baby sister to big bro Bitcoin. It serves no purpose. People who claim that it’s great for cheap transactions into and out of exchanges seem to forget that there is a fuck load of slippage when you trade from one coin to another, like LTC/ETH and LTC/BTC. It’s also inconvenient. No one ever says “LTC is a great store of value for the long term” or “I’m looking forward to retiring in 20 years once my LTC does a 10x”

[–]Fooshi20200 / 571 🦠 1 point2 points  (0 children)

Adding mimblewimble to LTC but not to BTC (yet) is an attractive benefit.

[–]citruspers2929 0 points1 point  (0 children)

Fairly blunt, but difficult to disagree with any of this!

[–]DecentYam3608 1 point2 points  (0 children)

There will be at most 21 million bitcoins in existence. There isn't even enough BTC to go around for EVERY millionaire to own one. So before you buy any other coin (LTC included), try to own at least 1 BTC first.

Once you have 1 BTC, buy all the shitcoins you want! ? pic.twitter.com/bc3xKKGB0m

— Charlie Lee [LTC⚡] (@SatoshiLite) July 17, 2018

[–]Arash_RezaePermabanned 1 point2 points  (0 children)

Because new coins with potential took LTC place

[–]Rogueofoz 1 point2 points  (2 children)

Nothing is wrong with Litecoin, is the bear market people are focused more on BTC and ETH than other altcoins right now

[–]vmguld241 / 241 🦀 0 points1 point  (1 child)

Many people lost interest when Charlie Lee decided to sell a big portion of his stake too. Why would someone want to hold a crypto that a leading developer don't want?

[–]NukaQuantum1111 0 points1 point  (0 children)

Like Shiba

[–]DingDongWhoDis 0 points1 point  (3 children)

Speculation is the name of the game these days. I'm not a fan of Litecoin, because performance isn't impressive and the tech is outdated. No downtime mind you, but it's a legacy dinosaur coin.

I don't like Ethereum either.

[–]robtimist 4 points5 points  (0 children)

Ethereum is overrated. Easiest coin to get scammed by fake smart-contracts, ridiculously expensive gas fees, etc. Seems like at least once a week I read a story on here or somewhere else about someone losing their life savings of ETH due to a scam or smart-contract issue.

[–]MoneyGrubbingMonkey[S] 3 points4 points  (1 child)

That's fair. The pros of litecoin seem to be fairly common among alt coins nowadays, doesn't justify the investment.

What's the reason for disliking Ethereum though?

[–]DingDongWhoDis 7 points8 points  (0 children)

ETH has a stranglehold on the market due to its first mover advantage, and the network effect is enormous. Despite the tech being a joke (IMO) and entirely reliant on L2s for the most basic transactions, the propaganda game is strong, and it seems the vast majority of retail believes it's a bluechip. This is holding us back from real mass adoption, because the masses dont want to deal with garbage tech requiring expensive gas fees and/or using L2s for everything.

ETH doesn't scale and it takes a long time for finality. There's also the risk of forking and double spending. All of that is a deal breaker for me, but common sense is lacking in this market which is why I look forward to seeing it evolve and mature.

[–]tigermax42Tin 0 points1 point  (0 children)

It has the lowest fees along with bcash so it is the best medium of exchange

[–]Bongressman8K / 8K 🦭 0 points1 point  (1 child)

Because Litecoin is just a fork of BTC.

[–]Sapian57 / 57 🦐 3 points4 points  (0 children)

Not a fork, but a clone (new chain) that got some tweaks.

Forks share the same Genesis block.

[–]lifeiswutumakeit 0 points1 point  (0 children)

Ya’ll forgot about that slimy Charlie Lee?

[–]mikeoxwells26K / 6K 🦭 -1 points0 points  (0 children)

LTC is losing relevance. Unfortunate, but true

[–]vstipic23 -1 points0 points  (0 children)

What's the deal with airplane peanuts?

[–][deleted] -1 points0 points  (0 children)

What's the deal with ltc? The mug is round, the jug is round, they should all it roundtine

[–]conceptionManager66 / 66 🦐 -1 points0 points  (0 children)

LTC is just one of many ponzis that refuse to die.

[–]-Monero0 / 587 🦠 -1 points0 points  (0 children)

Isn't it because we have better blockchains in literally every aspect of the tech?

[–]SuccessfulPlenty942 -1 points0 points  (0 children)

We have btc we don't need ltc

[–]BitSoMi41 / 10K 🦐 -2 points-1 points  (0 children)

Just another altcoin. Trades pretty high for doing absolutely nothing in the end

[–]FOTW-Anton618 / 637 🦑 0 points1 point  (0 children)

The Litecoin excitement kinda died out when Charlie Lee, the creator of LTC, sold his stake back in 2017 at the peak. I still think it's a good coin for cheap transfers but it definitely hasn't been the same since then.

[–]DreadknotX4K / 4K 🐢 0 points1 point  (0 children)

It’s a phenomenon like how bees can fly with their little wings

[–]ColdColdMoons345 / 345 🦞 0 points1 point  (0 children)

It has been years and new coins appeared and crypto advanced. Stay modern. The tech is moving fast

[–]tianavitoli877 / 877 🦑 0 points1 point  (0 children)

our lil chikun all growed up

[–]mricecream429 0 points1 point  (0 children)

I love using ltc to transfer funds between exchanges. Can’t say much else

[–]NinjaAssassino 0 points1 point  (0 children)

Buy it
Stake it
Deal with it

[–]smallbluetext4K / 9K 🐢 0 points1 point  (0 children)

Ah the memories

[–]wayfarer88881 / 241 🦠 0 points1 point  (0 children)

Litecoin had better utility because transactions are much faster and fees were lower than Bitcoin (in the old days, before Bitcoin Lightning Network). Quite a few people really used crypto to pay for things and services back then.

At this point, it's a legacy brand and has some followers like all the Ether and Bitcoin forks that are practically irrelevant now but still around because of brand recognition. These forks, and LTC can be seen as a Bitcoin fork as well, will rise in price again in lockstep with Bitcoin. Traders can hope they will sometimes outpace BTC, considering the smaller market caps. Personally I try to fully ignore these legacy alts as they have a bleak future, there's no real world use case other projects don't do better.

[–]organisednoise0 / 712 🦠 0 points1 point  (0 children)

Why so many litecoin posts recently in this sub? I wonder how many people bought some litecoin think it’s halving was gonna pump?….

[–]skr_replicator0 / 0 🦠 0 points1 point  (0 children)

LTC is basically just a faster bitcoin, that is imo not enough to compete with all the newr alts that are also fast and cheap and on top of that also offer so much more features than that, it didn't even make a new ath in 2021.

[–]Goro_shigeno_20 0 points1 point  (0 children)

Litecoin has been around for a long time, and it's often considered one of the early altcoins it hasn't achieved the same prominence as Bitcoin

[–]UnrealizedLosses 0 points1 point  (0 children)

Litecoin…ancient crypto

[–]Angel_Madison 0 points1 point  (0 children)

The creator Charlie Lee sold out at the high which effectively ruined its credibility. A shame as it had function.

[–]Johndrc82 / 13K 🦐 0 points1 point  (0 children)

Because theres no second best

[–]Connect-Ad-1088 0 points1 point  (0 children)

Back on the day coin

[–]toussaintgems 0 points1 point  (0 children)

It’s simple, Litecoin does what it’s supposed to do. It’ll be always associated with bitcoin and rides the same wave. “Gold and silver”

[–]Hitachi22 0 points1 point  (0 children)

Charlie Lee gets a lot of hate for selling his Litecoin but VB and the ethereum foundation sold 70,000 eth at the top also. Nobody ever mentions that.

And VB continues to sell 10's of millions of dollars worth of eth to this day

[–]Stiltzkinn50 / 1K 🦐 0 points1 point  (0 children)

Litecoin is still up and running and most exchanges support it.

[–]Ill-Sandwich-7703612 / 6K 🦑 0 points1 point  (0 children)

LTC is solid and it had a bit of a resurgence in the weeks leading up to halving in terms of price. It’s calmed down now but I think the future is bright for LTC.

[–]ILikeBigBlocksBCCCrypto Nerd | QC: BCH 39 0 points1 point  (0 children)

Is anyone actually developing anything on LTC? I remember Charlie Lee selling his big fat bag and saying “don’t worry we are planning great things for LTC” but I don’t know if any of it happened.

[–]EmployerWide8912 0 points1 point  (0 children)

LTC time will come once there is not enough BTC for everyone. It is an sleeping giant.

[–]Il-Eggman-lI 0 points1 point  (0 children)

Always a good coin for P2P payments. It’s price action is not the best but I don’t think you’ll like it if you just see it as an investment rather than a commodity.

[–]head77 0 points1 point  (0 children)

3rd place forever.

[–]sandopandah 0 points1 point  (0 children)

It’s good, just not as good as bitcoin I guess?

[–]hi3r0fant 0 points1 point  (0 children)

LTC is the never dying dog. First Alt , still alive , still pumps and dumps. Fast transactions , very low fees. Long live LTC

[–]hi3r0fant 0 points1 point  (0 children)

The fact with LTC is , that it s not gettjng shilled. Everybody shills every art coin. But nobody shills LTC. Do you people know that LTC is accepted as a payment method everywhere that you can pay with crypto? There are more online places accepting LTC , than BTC. If LTC starts getting shilled that means that the bull has awaken.

[–]Peppper 0 points1 point  (0 children)

The first BTC clone lol

[–]santana303 0 points1 point  (0 children)

I think litecoin will have its time to shine soon. Bitcoin will always be king, but at some point, the sky high prices will be unreasonable for retailers. So those investors will look for an alternative. That alternative being litecoin.

Litecoin is the first fork of bitcoin, meaning it follows pretty much the same rules and guidelines except for a few tweaks here and there. That being TPS speed, increased circulating supply, and the doge mining merge. LTC also has time as a factor. Meaning its been around for almost as long as BTC.

My tinfoil hat tells me that Eth, XRP, and the other alts are distraction projects so that the puppet masters can accumulate as much as possible. Not that they aren't great projects, but ETH has an unlimited supply that can be minted and burned, and XRP has 140 billion with a B supply. LTC has an 84mil max supply. Compared to BTC 21 million. Common sense math tells us that LTC has better tokenomics, excluding of course BTC.

However, 90% of BTC is in circulation compared to around 70-80% of LTC. Once LTC hits that 90% mark and BTC is too expensive for your average pleb, people will jump into LTC for the next best thing that similar. Just give it time and stay with your conviction.