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DISCUSSIONLitecoin, what’s the catch? (self.CryptoCurrency)

submitted by IanTigger0 / 0 🦠

Hey guys,

A question I’ve been meaning to ask is why Litecoin almost gets no recognition. Is there a catch? I’m not heavily invested into crypto, just a bit of Btc/eth, but out of all the cryptos in the world, the only one I’ve had lots of use cases for is litecoin. Their transaction speed is amazing and the fees are even better. It always make me feel like there’s a catch. How are they able to keep fees so low?? And why does no one talk about them although they are the 2nd crypto to be created with a long lasting reputation and no network outages.

The only time I’ve really sent or used btc/eth is to move to hardware wallets (rarely for payments), meanwhile Ltc has always been the preferred method if not USDT when I buy digital goods on Reddit and discord. When I sell items, I usually also resort to Ltc as my preferred method and only accept others if the buyer doesn’t have it available. This is very opinion based, but Ltc has always felt like the better bitcoin to me (for p2p transactions) - just talking out of personal experience as a seller and buyer. Yet I’ve never kept any funds in Ltc as I always felt it was too good to be true or something was off since it wasn’t getting any recognition. What do you guys think? What am I missing here?

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[–]CointestMod[M] [score hidden] stickied commentlocked comment (3 children)

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

[–]aliensmadeus0 / 9K 🦠 474 points475 points  (50 children)

the only thing i can say is, that litecoin is the only crypto i ever used to actually buy things

[–]IanTigger0 / 0 🦠[S] 124 points125 points  (8 children)

Same here. Both buying and accepting it as a form of payment. Not been let down once so far, which is why I wanted to know why it’s so unrecognized and under appreciated (imo)

[–]noduhcache0 / 0 🦠 47 points48 points  (0 children)

Litecoin is indeed a user favorite and not an investor favorite. This doesn't mean it won't appreciate, but it does mean there are these long lags where it doesn't appreciate like the rest of investor favorites.

You kind of have to wait for the narrative to change a few times and the ltc oscillates up. That is the catch.

[–]allintowin1515618 / 618 🦑 31 points32 points  (4 children)

I have a friend of a friend who’s cousin does a lot of online gambling BCH and LTC are all they use to transfer funds …

[–]green_man_690 / 319 🦠 18 points19 points  (0 children)

Was going to say the only thing I use it for is to transfer to Bovada lol

[–]allsunny0 / 0 🦠 5 points6 points  (1 child)

I do online gambling, but it’s all crypto related.

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    [–]FunCalligrapher39790 / 0 🦠 35 points36 points  (2 children)

    for me, it's XMR

    [–]OneYouDidntThinkOf0 / 0 🦠 39 points40 points  (1 child)

    the only coins i hold are XMR, Litecoin and eth. nothing against bitcoin, just never buy it. not even really sure why. someday i see litecoin at a thousand dollars. but i also see myself fucking a supermodel, so don't rely on me for shit . . .

    [–]Bringbackdexter0 / 0 🦠 37 points38 points  (2 children)

    Bingo, don’t expect it to ever pump but it’s probably one of the best examples of a real world alternative to fiat. Mainly being that by pumping it would also crash hard eventually, it’s reliably stable.

    [–]VictorOgorodnov41 / 41 🦐 10 points11 points  (0 children)

    Same

    [–]ThePopeBlastingRope0 / 0 🦠 4 points5 points  (0 children)

    Use it for bitrefill

    [–]meaowgi0 / 0 🦠 -5 points-4 points  (16 children)

    Is it really? To buy what things exactly?

    Take a look at the history of bitcoin-cash for example; its been widely used to transact.

    Or Bitcoin, Monero, privacy coins - used extensively on darknet markets.

    I shall say nothing of the multi-billion dollar market in defi.

    [–]lepetitmousse0 / 0 🦠 19 points20 points  (2 children)

    When dispensaries were new to colorado and they couldn’t access the banking system, one of the dispensaries I went to used a point of sale where i technically bought litecoin with my debit card and then it sent it to the dispensary’s wallet. Was kind of neat.

    [–]JcMurray7200 / 0 🦠 2 points3 points  (1 child)

    Was that Altitude by chance? They used to do the same thing.

    [–]lepetitmousse0 / 0 🦠 2 points3 points  (0 children)

    Honestly don’t remember at all. It was somewhere in South Denver i think.

    [–]MoneroArbo0 / 2K 🦠 15 points16 points  (12 children)

    BTC, XMR, and LTC are the ones I've used. nothing against bch, but BTC is BTC, XMR is private, and LTC is fast, cheap, and accepted some places XMR isn't. Not sure what BCH brings to the table. Probably more active development than LTC at this point, hopefully it pays off.

    [–]meaowgi0 / 0 🦠 -5 points-4 points  (7 children)

    My point on BCH was that it has had good market penetration as a real-life currency (down under it was popular or so I've read), although it wouldn't be my first pick.

    LTC is not really fast enough though. 2 1/2 minute transaction time is okay for online purchases, but for in-store purchases, it's just not good enough.

    Don't get me wrong, I think LTC is a great first stab at a useable cryptocurrency. But my wishlist for a cash replacement are:

    - instant transactions (or near instant)

    - cheap transactions

    - smart contract support

    - transaction privacy option

    ​

    LTC development is over. Charlie Lee sold his stash and has moved on. So it's never going to tick all of these boxes. As of now, it really only ticks the cheap transactions box.

    So, LTC: good for online transactions, but not much else.

    [–]MoneroArbo0 / 2K 🦠 5 points6 points  (0 children)

    Monero gets you everything but smart contracts, although I think I heard of a research paper recently about how they might be done.

    Block time is 2 minutes, but there's no RBF so 0-conf works for anything under like 1k USD ish

    Fees are under a penny and block size is dynamic so with tail emission those fees should be sustainable.

    And of course privacy is the default option.

    The big downside is you have to wait ~20 minutes to spend newly received coins, which includes change outputs.

    That and wallet sync is slower than for transparent chains, but that's mostly only an issue if you haven't opened your wallet in months.

    The reasons for using LTC or BTC for me are like you said, market penetration in terms of places that actually accept crypto payments.

    [–]Beer1010100 / 214 🦠 4 points5 points  (5 children)

    LTC development isn't over, on the contrary. Charlie sold a while ago, and he is still working on LTC.

    It's a good thing he sold, there is no conflict of interest anymore, and LTC got even more decentralised thanks to this.

    [–]meaowgi0 / 0 🦠 3 points4 points  (2 children)

    Last release was last March, a minor update.

    https://github.com/litecoin-project/litecoin/releases/tag/v0.21.2.2

    If you look on their foundation web page there's no mention of new innovation around the blockchain. Litecoin is what it is.

    I'm not saying the project is bad, it has a lot of good points, but there are better projects out there - with more active development, better features ...

    That's not to say the litecoin foundation is standing still; they're just focused on building a community. It seems they've taken they're eye off the ball in terms of technical progress and so are doing their party faithful a disservice.

    [–]HarrisonGreen0 / 0 🦠 0 points1 point  (1 child)

    And why would he work on LTC if there is nothing in it for him?

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        [–]TwoCapybarasInACoatPermabanned 275 points276 points  (23 children)

        1. it's working as intended
        2. a useful project is getting used, nobody will speculate on it
        3. crypto without hype doesn't pump

        Seriously, Litcoin can't be both useful, stable and be a great investment. Pick two.

        [–]IanTigger0 / 0 🦠[S] 44 points45 points  (16 children)

        I will continue to use it due to its usefulness and I think it’s a great project, I was just wondering why I never see it get any recognition and with the low fees I thought something might be fishy, but if it’s working as intended, I am more than happy to support it by using it in the future

        [–]Citizen_Kano0 / 2K 🦠 57 points58 points  (3 children)

        Because nobody here cares whether it works or not, we're just buying things we think will make us profit

        [–]indigo_nakamoto350 / 350 🦞 3 points4 points  (1 child)

        Working coins will always out perform non-working tokens.

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          [–]GrundleTurf310 / 301 🦞 5 points6 points  (0 children)

          You’re mistake is you’re making the assumption that use case and worth as an investment are significantly correlated 

          [–]TwoCapybarasInACoatPermabanned 1 point2 points  (1 child)

          I think it's just too slow, as you said 5-10 minutes. It's not fast enough for everyday payments. Bitcoin at least has the "digital gold" narrative.

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            [–]noduhcache0 / 0 🦠 7 points8 points  (0 children)

            Well, I almost agree. Doesn't pump often is more true. I believe patience with ltc does tend to pay off.

            Narratives change and day traders tend to think that whatever the narrative of the moment is always was and always will be. If your time horizen is longer, it actually can be a good investment. One of the benefits of assets like silver and digital silver is that in the protracted flat periods is you can get a much lower dca than on an asset that appreciates more gradually in preparation for the up oscillation.

            But it is still a meaningful tradeoff that it's investable attributes differ so much and thus are harder to grok for the average trader.

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              [–]ImpotentRage90000 / 0 🦠 173 points174 points  (4 children)

              The catch is it's just works. %100 up time, low fees and fast transaction. You can ALWAYS rely on it.

              [–]TheRealMangokill0 / 0 🦠 17 points18 points  (3 children)

              / U.S Treasury and Other banks have entered the chat.

              [–]TryLambda14 / 15 🦐 7 points8 points  (1 child)

              And are manipulating the market to centralise all crypto

              [–]TheRealMangokill0 / 0 🦠 2 points3 points  (0 children)

              100% hahahah, these past few years they seriously employed aome of the best financial strategists to build the infrastructure for them to profit the most, have oversight on a peer to peer payment form, establish a tax code for it, and soon it'll be the same as using a credit card...no one will even know the difference.

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                [–]TheGreatCryptopo7K / 93K 🦭 191 points192 points  (15 children)

                LTC has always been the Milhouse of the crypto gang. Now and then it does something, then back in the shadow of Bart. Its a close, faithful, reliable friend but one day will outperform and make everybody proud.

                [–]zangor518 / 6K 🦑 83 points84 points  (2 children)

                I can’t wait for 2071

                [–]loves_cereal324 / 524 🦞 45 points46 points  (1 child)

                Everything’s coming up Litecoin!

                [–]TheRealMangokill0 / 0 🦠 17 points18 points  (1 child)

                LTC to $10,000.

                [–]IanTigger0 / 0 🦠[S] 17 points18 points  (1 child)

                A true friend indeed. Although I've never purchased it to hold, I can definitely vouch for it being my favourite way to get paid and to pay people when it comes to reliability and cost efficiency.

                [–]TheGreatCryptopo7K / 93K 🦭 11 points12 points  (0 children)

                It was the first crypto I bought back in July 2017 to test the wonders of this new tech. Still have the first coins I bought, still hold 5% in my portfolio. Still gonna hold it for years to come.

                [–]TwoCapybarasInACoatPermabanned 12 points13 points  (1 child)

                Its a close, faithful, reliable friend but one day will outperform and make everybody proud.

                Just like Milhouse, right?

                [–]2Tacos4oneDollar421 / 421 🦞 7 points8 points  (0 children)

                Nobody likes Millhouse! Lisa detention

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                  [–]Regret-Select348 / 349 🦞 39 points40 points  (1 child)

                  I really like Litecoin

                  I assume most new people "figured it out" and "want to get in early" with random coins thinking they know better

                  Litecoin works. Its reliable. As much as I like Bitcoin, I think Litecoin I'd a good 2nd alternative.

                  Most new people I think are hooked on crap trendy YouTube people suggest like safemoon

                  Call me old ig. I like crypto that's been around for a while and historical has shown us its a good choice

                  [–]mistressbitcoin142K / 2K 🐋 45 points46 points  (0 children)

                  Arise Chikun!

                  [–]conceiv3d-in-lib3rty0 / 28K 🦠 56 points57 points  (17 children)

                  There is no catch. Litecoin has stood the test of time and with 100% uptime as well.

                  I haven’t used/held LTC since 2017 though. There’s just better options for moving coins around for cheap (XLM). A massive chunk of LTC’s volume comes from trading, which keeps its volume above $1b everyday.

                  I know there are many people who view LTC as a great investment. But it’s in this weird place where there are better options for anything you could possibly think of doing with LTC.

                  [–]Dull-Fun2K / 2K 🐢 19 points20 points  (4 children)

                  Yes that's the thing, there are just better options. Litecoin is usefull for payment but people won't get rich by holding it.

                  [–]libretumente1K / 1K 🐢 6 points7 points  (2 children)

                  Tell that to the people who bought in when it was under 10$

                  [–]_China_ThrowAway6 / 6 🦐 4 points5 points  (1 child)

                  We bought a bunch when it was about $5 (maybe 2015 or so), and sold when it hit $20. We sold it when the Chinese government started clamping down. At the time my wife was the one into trading and she didn’t want to get stuck with the coins without a way to cash out.

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                    [–]WeeniePops5K / 24K 🦭 0 points1 point  (11 children)

                    If you’re transacting, other cryptos are better. If you’re investing, other cryptos are better. Litecoin is in a weird middle ground where it’s just been around a while and has name recognition, but isn’t the best at anything.

                    [–]Longjumping_Method511K / 1K 🐢 8 points9 points  (0 children)

                    I like LTC. It's solid, dependable and transaction fees are low. It's creator did the right thing to sell out and distance himself from the project.

                    [–]jam-hay7K / 7K 🦭 37 points38 points  (1 child)

                    Greyscale that pushed the BTC ETF are bullish Litecoin

                    https://twitter.com/litecoin/status/1716851646012297489?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1716851646012297489%7Ctwgr%5Ebbf2dc5a553c4e05e296521952ebd7c26e9dfa9e%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fambcrypto.com%2Flitecoins-long-term-prospects-look-bright-thanks-to-grayscale%2F

                    [–]AutoModerator[M] 5 points6 points  (0 children)

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                    [–][deleted] 16 points17 points  (0 children)

                    Litecoin is like the smart kid that doesn't talk in the group project. No one recognizes him but he does great work and for some reason the class doesn't even remember his name most the time

                    [–]coltonmusic150 / 1K 🦠 6 points7 points  (0 children)

                    Litecoins always worked great for me to move funds. And it was my first crypto coin. So I still stack a bit and hold it for whatever long term may look like. I’m biased and see it as undervalued because it works exactly as it should and it’s been working like it should for a very long time. That’s enough for me. I don’t need insane speculative coins with lots of hype and detailed plans for the future. Just let me hold my litecoin in peace.

                    [–]0dtefomo0 / 0 🦠 34 points35 points  (0 children)

                    I have high hopes for LTC. From what I gathered, LTC is one of the very few coins that were not pre-mined. One of the fairest distributions.

                    [–]lordsamadhi0 / 0 🦠 6 points7 points  (0 children)

                    People always talk about transaction speed and fees, but never talk about all the other important metrics.

                    Jeff Booth does a great job in this blog post explaining the Blockchain Trilema.

                    [–]Last-Presentation-110 / 0 🦠 6 points7 points  (0 children)

                    No catch, it just does what it’s supposed to do, no bells and whistles, reliable and boring.

                    [–]diadlep0 / 0 🦠 5 points6 points  (1 child)

                    the catch is i own a bunch. when i sell it will go up, not before

                    [–]soyelvorph0 / 6K 🦠 2 points3 points  (0 children)

                    And that if you buy more today, tomorrow will go down 20%

                    [–]IndependenceNo20600 / 0 🦠 16 points17 points  (0 children)

                    Litecoin is a reliable workhorse in the crypto world, often overlooked and undervalued. It's a practical option for fast and cheap transactions. I respect Litecoin for its consistent performance and longevity.

                    [–]Crypto__Sapien0 / 0 🦠 20 points21 points  (0 children)

                    You raise a great point. Litecoin does seem fundamentally solid yet overlooked relative to its longevity and reliable performance as a payments-focused crypto asset. A few factors why it may fly under the radar:
                    It faces much stiffer competition now from faster, more feature-rich layer 1 chains compared to earlier years. So its technological edge has eroded some.
                    Newer "ETH killers" and DeFi ecosystems grab more attention these days versus more basic crypto payment functionality.
                    Marketing and hype play a big role in crypto - tech merits alone aren't everything. Litecoin tends to take a more grounded approach out of the spotlight.
                    Development funding and activity on Litecoin is quite limited compared to its market cap, raising questions on its roadmap and ability to innovate.
                    I agree though - fundamentally LTC does exactly what itaims for very reliably, has grown legitimate in commerce, and yet lacks the fanfare of its peers. Sometimes "boring" just works! So while unlikely to displace ETH or BTC now, LTC probably still deserves more credit as a transactional crypto than it tends to get. Solid, if unexciting.

                    [–]66theDude99437 / 437 🦞 11 points12 points  (0 children)

                    It's literally the only crypto currency that is being used as a "currency" maybe it's why the price isn't moving like others lol it's sold as much as it's being bought and this is kinda good.. I guess

                    [–]Royjonespinkie0 / 0 🦠 18 points19 points  (0 children)

                    I think it gets spent the most on Bitpay? Prob will get a ETF too same with ETH.

                    [–]DrXaos699 / 700 🦑 9 points10 points  (0 children)

                    Litecoin is actual crypto currency. Honest, reliable, effective,

                    Fees are low because they did what bitcoin maxis insisted would be disastrous: more frequent bigger blocks.

                    [–]Duck_Duck_Penis0 / 0 🦠 3 points4 points  (0 children)

                    It’s has a different hashing algorithm and is incredibly efficient and virtually free when it comes to transfers

                    [–]TheTreee0 / 0 🦠 3 points4 points  (1 child)

                    Whenever I have to move stuff between exchanges, I'll often use Litecoin because it's fast and easy.

                    For example, say I have some random coin I want to move from exchange A to exchange B. I'll often convert it to Litecoin on exchange A, send the Litecoin to exchange B, then convert the Litecoin back to the shitcoin on exchange B.

                    I'll take the hit on losing money in the conversions just to not have to deal with sending the shitcoin, which takes forever, is complicated, etc. That's how convenient Litecoin is.

                    [–]Srzali0 / 0 🦠 1 point2 points  (0 children)

                    Based

                    [–]drunk_phish375 / 375 🦞 20 points21 points  (10 children)

                    It'll pop again, just you wait.

                    [–]WeeniePops5K / 24K 🦭 6 points7 points  (6 children)

                    I joined this place in Jan 2019. I’ve been hearing “Litecoin pump is just around the corner” since then. I hope yall do make your money one day, but for now it’s gunna be a no for me dawg.

                    [–]neo101b185 / 2K 🦀 2 points3 points  (3 children)

                    It did pump in 2021, to around $400, which is the price it usually goes to in a peek bull market.

                    [–]WeeniePops5K / 24K 🦭 1 point2 points  (2 children)

                    2019-2021 peak Btc 18x, Eth 33x, Ltc 12x. A rising tide lifts all ships, but Ltc severely under performed. Why take the risk of holding an alt if it's not even going to outperform Btc?

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                      [–]ThePopeBlastingRope0 / 0 🦠 5 points6 points  (1 child)

                      The problem is it never keeps up with everything else. I still hold 50 but I used to have much more.

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                        [–]Objective_Digit0 / 0 🦠 4 points5 points  (0 children)

                        Litecoin almost gets no recognition. Is there a catch?

                        Isn't that the catch?

                        [–]mcgravier0 / 0 🦠 2 points3 points  (4 children)

                        There's nothing inherently wrong with litecoin. It's just that it's 100% clone of bitcoin with shorter block time - it has no innovation exept it just happens to have more capacity and faster, more consistent confirmation time, at the cost of requiring more powerful hardware for node software

                        [–]Polyblot0 / 0 🦠 1 point2 points  (2 children)

                        Doesn’t it have a privacy layer?

                        I figure it had more to do with liquidity. Low liquidity and a strong HODL culture causes price increases every halving as the main selling pressure is from miners. As liquidity increases the price stabilizes and the impact of halvings matter less.

                        Its success is holding it back essentially.

                        [–]mcgravier0 / 0 🦠 0 points1 point  (1 child)

                        Doesn’t it have a privacy layer?

                        No it doesn't. If you want privacy, then use Monero

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                          [–]jawni500 / 6K 🦑 3 points4 points  (1 child)

                          Litecoin had a niche that got severely marginalized by new L1's. Simple as that.

                          It's like asking why digital cameras aren't popular anymore.

                          [–]Local_Economy61 / 61 🦐 3 points4 points  (0 children)

                          The silver to BTC gold

                          [–]Rodriguez6260 / 0 🦠 3 points4 points  (0 children)

                          It's one of the few legitimate projects. People hate that.

                          If it isn't four-digits in the years ahead, crypto isn't really serious. Litecoin has achieved decentralization, never been down in over a decade unlike bitcoin (twice), and it's more used.

                          It's as good a gauge for whether the asset class is legitimate or not as we'll ever get.

                          [–]jgarcya4K / 4K 🐢 15 points16 points  (0 children)

                          Litecoin is a winner... Easy money maker when bought in the right part of the four year cycle ..

                          Everyone should buy at the low of the cycle and hold.

                          [–]Scottex99405 / 405 🦞 14 points15 points  (13 children)

                          Charlie Lee dumped the top all over retail and it never recovered.

                          I think you semi answered your own question. USDT came along and then USDC. If you’re doing payments or settlements for either Corporate or Retail, it just makes more sense cutting out the volatility. Especially USDT on TRC20 which is cheap to move millions, if required.

                          And then it just got left behind, it’s like 3 cycles ago and not going to pump randomly now, imo. Just like other stuff from 2017 won’t and possibly in 2 more cycles, SOL & MATIC etc won’t be in vogue anymore

                          [–]libretumente1K / 1K 🐢 8 points9 points  (8 children)

                          Charlie sold at an average of $200 lol hardly the top.

                          [–]Scottex99405 / 405 🦞 1 point2 points  (7 children)

                          True not ATH but it’s not going back to 200 again

                          [–]timtucker_com44 / 44 🦐 5 points6 points  (0 children)

                          I've lost track of just how many times I've heard "Litecoin is never going above X again"

                          I've also lost track of just how many times I've heard "You'll never be able to buy Litecoin below X again"

                          [–]iworkisleep0 / 2K 🦠 8 points9 points  (2 children)

                          It did a couple of times after Charlie sold. At least hate properly lol

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                            [–]yeetskeetbam1K / 1K 🐢 3 points4 points  (1 child)

                            It will be the next ETF.

                            [–]Scottex99405 / 405 🦞 0 points1 point  (0 children)

                            Ha, wanna bet?

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                              [–]AnonymousAccount23780 / 0 🦠 9 points10 points  (6 children)

                              I use LTC to transfer my coins between exchanges due to it's lower fees and high liquidity..
                              Bitcoin is just more known as it's the original and litecoin was forked to make it more efficient for transaction speeds and throughput with faster block times (2.5 minutes instead of 10 minutes).

                              [–]Ilovekittens3450 / 0 🦠 4 points5 points  (0 children)

                              Why would you do that and not USDT over TRON?

                              If you buy a non stablecoin to move funds between exchanges you are at risk of the market moving against you during transit.

                              [–]UrAn834 / 35 🦐 1 point2 points  (4 children)

                              use stellar instead. much better for this

                              [–]libretumente1K / 1K 🐢 10 points11 points  (3 children)

                              Meh too centralized, shit tokenomics

                              [–]t0astter36 / 46 🦐 2 points3 points  (0 children)

                              Personally I love Litecoin. Cheap and fast to move money. It's just not sexy.

                              [–]funkinaround0 / 0 🦠 2 points3 points  (2 children)

                              You're not alone. A fair value estimate has Litecoin worth $410. https://www.coinfairvalue.com/coins/litecoin/

                              [–]Ill-Earth-97870 / 0 🦠 0 points1 point  (1 child)

                              XRP is pretty same with market price.. but why LTC is so different??

                              [–]surfnsets0 / 0 🦠 2 points3 points  (0 children)

                              There will always be a better crypto in the future. But only one is Bitcoin and if Bitcoin fails, all fail.

                              [–]ABK-Baconator28 / 727 🦐 2 points3 points  (0 children)

                              The catch is that LTC falls in the gray middle ground. It's not original, and it's not cutting edge. 

                              BTC is the original, decentralized one. Nowadays not so great as a currency, but as store of value. LTC has lower fees not because it's superior tech to BTC, but because the network is vastly less popular than btc. Nano is a faster and feeless and actually scalable, so better as a currency.

                              Ada/Algo and others provide smart contracts in addition to low fees and fast transactions.

                              So, LTC is somewhat ok in many ways but best in nothing.

                              [–]odonnellnoel26 / 26 🦐 2 points3 points  (0 children)

                              Once the fees on BTC get into hundreds of dollars, LTC will moon.

                              [–]3utt5lut2 / 11K 🦠 6 points7 points  (1 child)

                              It's basically useful like BCH, and unlike most cryptocurrencies, it has an actual use.

                              You're not missing anything, the cryptocurrency market is just completely upside down, bonkers, and asinine when you think about it.

                              [–]SapianPermabanned 3 points4 points  (0 children)

                              I think BCH, LTC, and XMR are great for actual usage, and I think we'll see them gain more ground in this way in 2024. I hope more shops start accepting them.

                              [–]papa_ganj1K / 1K 🐢 4 points5 points  (0 children)

                              LTC next up for an ETF approval

                              [–]roadbowler0 / 2K 🦠 5 points6 points  (20 children)

                              I wouldn't describe the transaction speed as "amazing" but it is quicker than BTC at least!

                              [–]IanTigger0 / 0 🦠[S] 8 points9 points  (19 children)

                              It might not be superb, but I'll take 5-10 mins for a fee of less than 1 cent any day! Definitely better than sending small amounts of btc. Especially as I accept it as a payment method a lot, I can definitely say its far more convenient

                              [–]KeyReturn7424313 / 313 🦞 3 points4 points  (14 children)

                              5-10 mins? There are blockchains out there that can finalized a transaction in 4 seconds with .001 fee.

                              [–]IanTigger0 / 0 🦠[S] 2 points3 points  (10 children)

                              Which ones?

                              [–]jahmoke528 / 527 🦑 2 points3 points  (0 children)

                              stellar

                              [–]lazoshaz0 / 0 🦠 4 points5 points  (4 children)

                              Nano, but it has problems too

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                                [–]libretumente1K / 1K 🐢 2 points3 points  (0 children)

                                And they are centralized, premined shitcoins.

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                                  [–]TwoCapybarasInACoatPermabanned 0 points1 point  (0 children)

                                  Mhm, maybe there's your answer. You can't pay for daily stuff with LTC and it's not BTC either.

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                                    [–]No-Marzipan-2423265 / 265 🦞 3 points4 points  (0 children)

                                    lack of marketing mostly

                                    [–]GameMusic892 / 892 🦑 6 points7 points  (0 children)

                                    Wait until you hear about nano

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                                    [–][deleted] 1 point2 points  (0 children)

                                    I am holding. It won't go up until I sell.

                                    Sorry guys.

                                    [–]RobCali5090 / 0 🦠 1 point2 points  (0 children)

                                    It’s a great Crypto but unfortunately it’s heavily shorted.

                                    [–]Apart-Apple-Red0 / 0 🦠 2 points3 points  (0 children)

                                    Funny you mentioned it. Last Sunday I bought pizza for my family using litecoin and bitrefill. Litecoin was the best option of crypto to use. I had to use exchange to swap bitcoin cash for litecoin, but that's only because bitrefill doesn't accept bitcoin cash.

                                    Bottom line is, from all available crypto at bitrefill, litecoin was the best and cheapest to use.

                                    [–]Gen_Tsos_Koolaid1 / 17 🦠 1 point2 points  (0 children)

                                    We're back people.

                                    The newbie shills are here.

                                    IYKYK.

                                    [–]dANNN738207 / 207 🦀 1 point2 points  (0 children)

                                    There is no catch but if you imagine a scale of slow outdated crypto starting with Bitcoin and then going to the fastest lowest fee options why would you bother stopping along the way? Thats where litecoin is.

                                    [–]aerona63 / 0 🦠 1 point2 points  (0 children)

                                    The problem with lite coin is the packaging.

                                    In the package you get Charlie Lee whom is very unsellable

                                    [–]endchat0 / 0 🦠 1 point2 points  (1 child)

                                    I own a ton of coins...but the only one I ever use is LTC, I pay people with it, buy services, barter with friends for it...most useful coin there is...no clue why the price has been shit forever, my guess its been kept down on purpose.

                                    [–]fn3dav20 / 0 🦠 1 point2 points  (0 children)

                                    It's fine, but why would I use Litecoin for anything rather than Solana or Monero?

                                    You can't exactly say it's well-suited for payments if the privacy is difficult and manual.

                                    [–]DoYouEvenMonad0 / 0 🦠 1 point2 points  (0 children)

                                    Their transaction speed is amazing and the fees are even better.

                                    Not really, because you can't measure the speed of a transaction by block confirmation times. In a decentralized network a confirmation doesn't really mean that much because it does not guarantee the block won't be orphaned. Energy per unit time is a much more useful indicator of settlement times, because it tells you how hard it is to for a chain to be reorganized.

                                    How are they able to keep fees so low??

                                    Because there's less traffic.

                                    And why does no one talk about them although they are the 2nd crypto to be created with a long lasting reputation and no network outages.

                                    Because it's just a clone, that fundamentally doesn't really operate differently from bitcoin. Personally, if I'm diversifying my portfolio, I might as well buy something that brings something new to the table. Privacy, governance, whatever.

                                    [–]YamahaFourFifty0 / 4K 🦠 2 points3 points  (3 children)

                                    It’s probably due to how busy the ltc network/blockchain is vs btc or Eth.. the later being much, much more busy

                                    Meaning if ltc did get more popular the things that make it appealing now won’t be as great

                                    [–]IanTigger0 / 0 🦠[S] 3 points4 points  (2 children)

                                    What do you mean with busy? I don't really know how prices for fees are calculated since Im not the most knowledgeable person on crypto, but it processes more transactions than btc per day and around half the amount of eth transactions at a huge fraction of the cost. Even if ltc transactions per day surpassed daily eth transactions; I don't see the fee for ltc transactions being higher than for eth (or am I missing something here?)

                                    [–]YamahaFourFifty0 / 4K 🦠 0 points1 point  (1 child)

                                    From what I understand the busier a blockchain becomes- fees increase.. happens with Eth not sure about btc but I think it’s all relative

                                    Most blockchains that have few transactions will be overall quicker and smaller fees, ie- Algorand

                                    The scaling to a level like Eth and Btc is where most chains will fail or have increased wait times / fees

                                    Where are you seeing ltc daily transactions exceed btc or eth? That doesn’t seem right

                                    [–]ILoveAnt38 / 38 🦐 1 point2 points  (0 children)

                                    It has the same fundamental congestion issue as bitcoin where transaction fees and transaction time will scale with transaction volume. Nano is feeless and near-instant while bitcoin has a far stronger name and reputation. Litecoin is just something inbetween.

                                    [–]fturla 0 points1 point  (0 children)

                                    Litecoin is a good transactional crypto currency to use for moving funds, but on a long term basis, no one is willing to hold enough of it to sustain an upward wealth accumulation trend.

                                    If you held the coin for almost a decade the ratio valuation to BTC has kept increasing to the point that where the comparison was less than 40 to 1 has now routinely stretched the exchange ratio to somewhere in the 800 to 1200 range. If you held LTC at a thousand coins equivalent to X number of BTC coins more than 5 years ago, the value of the LTC has dropped to the point that you need 20 thousand LTC to buy the same amount of BTC. In another analogy is if you had a thousand dollars of Litecoin in terms of inflation to Bitcoin, you now only have 50 dollars worth today. What I am saying is if you had invested any amount of funds into BTC more than 5 years ago, you would have at least 20 times more fiat currency compared to LTC even if both coins rose at the same time.

                                    This isn't a problem that is exclusive to LTC, all other crypto currencies from the past have this issue, but that does not means Litecoin will keep devaluing in ratio to BTC. It may one day go up, which is a possibility.

                                    I do think Litecoin will rise above 100 US dollars before the end of 2025, and the coin might rise above 200 dollars. It needs to rise above its all time high of 420 dollars in order for anyone to take the coin seriously as a potential store of value. XRP has the same problem.

                                    [–]Dull-Fun2K / 2K 🐢 0 points1 point  (2 children)

                                    It works and is reliable but there are other chains that are cheaper and as reliable so there is no point. Even the founder had understood that and sold everything. You get downvoted by bag holders when saying this but the truth is even Litecoin founder gave up and taught there was no future.

                                    [–]libretumente1K / 1K 🐢 6 points7 points  (0 children)

                                    If the founder gave up and thought there was no future, why does he continue to fund the Litecoin Foundation mostly out of his own pockets and pay for development? MWeb optional privacy was implemented last year and was not a cheap development. If Lee gave up, he would not still actively promote LTC or pay to have it developed.

                                    [–]jahmoke528 / 527 🦑 2 points3 points  (0 children)

                                    if i recall correctly it was to take away the onus of a crypto founder and the inherent conflicts of interest it can cause

                                    [–][deleted] 0 points1 point  (0 children)

                                    It’s the name. It’s the lite beer of crypto. It’s diet soda. It’s off brand chips.

                                    [–]noselfinterest0 / 0 🦠 0 points1 point  (0 children)

                                    The catch: it underperforms and has no real advantage over any other crypto.

                                    That one dev/creator/founder guy sold the top and it's never reached that hiigh again, even as other coins made new highs.

                                    Use it if u have to, but I would never look at it as an asset to put money into.

                                    As far as usage, BTC on lightning network is faster and cheaper.

                                    [–]mwon882 / 2 🦠 0 points1 point  (6 children)

                                    Wait till btc is massively adopted by the general public and than ltc will follow suit. The fees and speed of transactions is no where near LTC

                                    [–]meaowgi0 / 0 🦠 0 points1 point  (0 children)

                                    Maybe you've not heard of the 65k transactions per second of Solana, whose average transaction takes 13 seconds, with an average fee of $0.0001 to $0.0003

                                    Litecoin has a 2 1/2 minute block time, so for it to work as a cash replacement you have to ask yourself, will everyone be happy to wait up to 2 1/2 minutes for their grocery transaction to clear?

                                    Solana, Cardano, Ripple and (many) others do stand a chance as cash replacements due to their existing or upcoming features.

                                    Litecoin has stopped all development. So it's never(?) going to improve from where it is now.

                                    load more comments (5 replies)

                                      [–]EndSmugnorance0 / 0 🦠[🍰] 0 points1 point  (0 children)

                                      Why LTC and not BCH?

                                      [–]Exittus0 / 0 🦠 0 points1 point  (0 children)

                                      You asked so I'll answer and get downvoted. (I like LTC, just being honest)

                                      LTC does nothing novel compared to Bitcoin. Charlie lee changed a few parameters so there'd be more coins and a different hashing algo.

                                      There's currently zero development. Nothing since the mimblewimble block extensions which no one uses.

                                      Okay fees are low, great. They're also super low on every single alt other than BTC/ETH.

                                      LTC's primary strength is it was early to market and got listed on all the big exchanges and thus developed a network effect.

                                      But what now? Why is no one developing on it?

                                      Other layer 1 coins at least have useful privacy, on-chain coinholder voting, treasuries, building out DEXs, moving the peg forward (XMR, DCR, ZEC, DASH etc)

                                      LTC is boring. And that's fine. It does what it needs to do. Just don't expect people to get too excited about it.

                                      [–]DATY49442K / 2K 🐢 -1 points0 points  (4 children)

                                      There's no catch, it just doesn't do anything special. It's a fork of Bitcoin with 2 minute block times. And? Nobody cares.

                                      [–]libretumente1K / 1K 🐢 5 points6 points  (3 children)

                                      People with ridiculous BTC fees care. So much so that they convert to LTC to transfer. You can send a million dollars in LTC for like fifteen cents.

                                      [–]C5tWm77t5hMJC7m788450 / 0 🦠 4 points5 points  (0 children)

                                      I literally convert most coins to LTC because I'm not some wanna be crypto-bro staring at charts all day. I've got bills to pay and many of those I can pay with BTC/LTC and I always choose LTC for payments.

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                                        [–]BraveCryptotab0 / 555 🦠 0 points1 point  (0 children)

                                        There is only one king in the jungle and that's now Bitcoin.

                                        [–]Wizardfromthefuture0 / 0 🦠 0 points1 point  (0 children)

                                        Pump and dump back in the day that left alot of folks holding bags.

                                        [–]MadamMighty206 / 206 🦀 0 points1 point  (0 children)

                                        I have the exact same question regarding xlm, which is even cheaper than ltc for transfers.

                                        [–]CompetitiveDentist850 / 0 🦠 -2 points-1 points  (0 children)

                                        It’s not Bitcoin

                                        [–]BuffaloBrain8840 / 0 🦠 -3 points-2 points  (0 children)

                                        LTC is just another Bitcoin fork that consistently underperforms BTC when it comes to price.

                                        Look at the BTC/LTC chart. There's basically no time in history when it's made sense to own LTC as a investment.

                                        [–]BlubberWall59K / 59K 🦈 -2 points-1 points  (9 children)

                                        It does nothing unique, and does nothing the best.

                                        That can describe a lot of other coins as well. Tbf LTC has some name brand status due to its longevity but that’s really all it has

                                        [–]libretumente1K / 1K 🐢 5 points6 points  (0 children)

                                        It's network uptime and fairness are literally the best. Fair launch with no premine, and 100% network uptime (#1 longest uptime of any chain).

                                        [–]IanTigger0 / 0 🦠[S] 1 point2 points  (7 children)

                                        I understand that it's not unique, but it seems far more efficient to me than btc. What other cryptocurrencies have the same decentralised system, more efficient network and limited supply other than btc (genuinely curios if you could list some that do it better - with similar principle to bitcoin - as I'm not very knowledgeable on alts)

                                        [–]olduvai_man40 / 856 🦐 2 points3 points  (0 children)

                                        There are so many that do.

                                        If we're talking POW, then even Kaspa fits the bill. It's faster than LTC and insanely cheap. At least Kaspa has a more innovative approach and will implement smart contracts.

                                        [–]Bongressman8K / 8K 🦭 -5 points-4 points  (5 children)

                                        LTC was created as a "test net" for BTC. A literal test fork. A cool throwback to an earlier time in crypto. Nice to collect, but no one holds long term because it just has no real novel use case. BTC does things like inscriptions, ordinals etc, that LTC does not. It will never keep up with BTC if you are looking at it as an investment, or a store of value.

                                        Use it to move money if you want, great. But there are other chains that do that better as well.

                                        [–]Master_Ad_9083580 / 581 🦑 6 points7 points  (0 children)

                                        You may want to check your ‘facts’ Litecoin has ordinals…

                                        https://github.com/nem0z/guide-ordinals-litecoin

                                        Not only that but much development too, omnilite, liteverse, mimblewimble. In many cases LTC leads BTC, not only with more transactions

                                        https://bitinfocharts.com/comparison/transactions-btc-ltc.html#3m

                                        But also with tech for example getting lightning first.

                                        Perhaps look into it a bit more you may be pleasantly surprised.

                                        [–]thatmanontheright492 / 492 🦞 5 points6 points  (1 child)

                                        Pretty sure there are inscriptions on Litecoin though

                                        [–]IanTigger0 / 0 🦠[S] 2 points3 points  (1 child)

                                        What chains would you recommend to use instead?

                                        [–]45654578460 / 0 🦠 -1 points0 points  (0 children)

                                        It’s a copy of the original Bitcoin that was used by its creator to scam people. It’s had almost zero innovation since it was created and only survived because it as an early coin with name recognition and because people view it as a cheaper alternative to using Bitcoin (although there are better options imo)

                                        [–]Baecchus10K / 114K 🐬 -2 points-1 points  (0 children)

                                        Shitty price action is the catch. It's been performing worse than BTC consistently for the last 10 years.

                                        [–]MoneroWTF28 / 3K 🦐 -2 points-1 points  (3 children)

                                        Fees are low because it's not used enough to raise fees. It's Bitcoin lite. If you need Bitcoin properties use Bitcoin. You don't gain enough to warrant using a lesser chain 

                                        [–]IanTigger0 / 0 🦠[S] 5 points6 points  (2 children)

                                        Ltc has more daily transactions than Btc, so it is definitely used enough. I guess it’s mainly overshadowed by its Btc counterpart

                                        [–]MoneroWTF28 / 3K 🦐 1 point2 points  (1 child)

                                        I understand it was meant to be complimentary to Bitcoin, but the use case of Litecoin is just a faster cheaper Bitcoin. It otherwise has the same traceability issues and does the same thing as it's big brother. If I need to stay in the surveillance chain ecosystem, I'd just as soon use Bitcoin. If fees are an issue, lightning exists and works just fine for the vast majority of low value (sub $1,000) purchases. Not that I have a dog in that fight, I only buy Bitcoin to get to Monero. Good luck to you all.

                                        [–]meaowgi0 / 0 🦠 -2 points-1 points  (0 children)

                                        Didn't they stop development on litecoin?

                                        Which means no more innovation. Which is fine. But there are other projects out there with active development and lots more features.

                                        So what exactly is the attraction to litecoin?

                                        [–]kevinlovesweed0 / 0 🦠 -3 points-2 points  (0 children)

                                        No fuck is given to litecoin

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