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ANALYSISThe case for Litecoin as one of the next approved Crypto ETFs in the US (self.CryptoCurrency)

submitted by jam-hay7K / 7K 🦭

We've had the Gold ETF... then the Silver. We've had the Bitcoin ETF... we will have the Litecoin ETF.

Gensler has appeared on the CNBC news conceding that Bitcoin is a community and that ultimately the this and the Greyscale court case lead to the approval of the ETF (ETP).

Here's the bull case for Litecoin.

From Coinbase to PayPal Litecoin has always been hot on the tails of adoption by major institutions.

As a Bitcoin fork Litecoin is one of the cryptos closest in nature to Bitcoin and therefore there should be no arguments it's also a commodity too. One of bitcoins criticisms is that Satoshi Nakamoto (Bitcoins founder) owns a major chunk of the Bitcoin supply. This isn't the case for Litecoin. One of Genslers major criticism of Bitcoin is there is not being used for payments. Again this isn't the case for Litecoin as it surpasses Bitcoin for the most commonly used crypto for payments/ despite its smaller market cap.

Greyscale who pushed for the BTC ETF is also bullish Litecoin. In a recent interview their investment CEO suggested they would be pursuing ETFs for the other holdings they have which include Litecoin.The Grayscale Litecoin Trust has almost $110m LTC under management and is one of their top 5 largest crypto trusts.

Launched just 2 years 9months after Bitcoin in 2011 Litecoin is one of the longest established cryptocurrencies. Although their were others LTC has been commonly referred to as the first/ most well established "Altcoin" to Bitcoin. Its the second oldest name on Greyscales books also with the likes of ETH launched in 2015 and BCH as a BTC project fork in 2017.

Litecoins price appreciation has lagged behind some of the other top 20 crypto's by market cap over recent years but when it comes to longevity it's outperformed and going on current regulatory security/ adoption by institutions it's family relationship with Bitcoin will do it no harm.. it fact it's quite possible it is it's most undervalued strength.

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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.

[–]_etherium230 / 230 🦀 121 points122 points  (22 children)

LTC does not have a related regulated market of sufficient size, which in BTC's case was the CME futures market. This plus a surveillance sharing agreement was sufficient to detect fraud and manipulation according to the SEC.

LTC does not have a CME futures market.

[–]jam-hay7K / 7K 🦭[S] 0 points1 point  (13 children)

LTC does not have a CME futures market.

..but Bitcoin does which is the main point if you consider the rationalisation of the argument made...

https://www.cnbc.com/2023/08/29/a-spot-bitcoin-etf-is-much-closer-to-reality-were-not-there-yet.html

The regulatory transition in applying the argument that LTC should be approved now BTC has is far less of a leap than say a smart contracts platform such as ETH particularly since the consensus has switched to PoS with staking yields.

In some ways ETC being at least the same form of PoW consensus would be easier and Greyscale also has it in trust.

LTC does not have a related regulated market of sufficient size

It does for payments as I say it's on the same amount of major exchanges that are now handling more transactions than BTC

[–]_etherium230 / 230 🦀 35 points36 points  (9 children)

Cool, none of that is relevant because there is no demand for LTC futures. You'll have to get a tradFi exchange like the CME to list LTC futures first. That is very unlikely to happen.

Also, the argument about ETH being a security because of PoS doesn't work. Staking itself is not a security since stakers must perform work and does not rely primarily on the efforts of others per the Howey test. The pooled services like Coinbase staking or LIDO might be but those are 3rd party services.

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

Cool, none of that is relevant because there is no demand for LTC futures

You don't need LTC futures, you need demand for LTC/ LTC usage for spot which Greyscale already have already got in their trust that they've already intimidated they'll be looking to apply to convert their other crypto holdings as per the OP.

Also, the argument about ETH being a security because of PoS doesn't work.

The argument is more that the SEC are refusing to accept it as a commodity whilst they accept Bitcoin is. I hope ETH does get approved and appreciate as the second largest crypto the majority on here will also... however some of the arguments levied against it do seem more challenging to answer.

A court would likely agree with the U.S. Securities and Exchange Commission (SEC) that Ethereum 2.0 amounts to an unregistered security

[–]Objective_Digit0 / 0 🦠 -1 points0 points  (7 children)

The pooled services like Coinbase staking or LIDO might be but those are 3rd party services.

Which is how most of it is staked.

[–]Njaa2K / 2K 🐢 3 points4 points  (6 children)

Doesn't matter unless you're talking about a cbETH or stETH ETF.

The rest of us are talking about an ETH ETF.

[–]Somebody__Online474 / 474 🦞 4 points5 points  (2 children)

While LTC is on many exchanges, its trade volume is no where near Bitcoin. Like not even close.

I like Litecoin but it is like a glorified test net for Bitcoin.

[–]SpaceFaceMistake976 / 976 🦑 2 points3 points  (1 child)

Your missing the point LTC is fee less… or we’ll it can be and it is for me from FreeCash rewards of which I saved $60 this year in crypto fees if I withdrew in any other current or even more loss for over $300 in earnings on FreeCash for crypto

[–]Somebody__Online474 / 474 🦞 1 point2 points  (0 children)

I mean lighting network is mostly free too.

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    [–]twalker140 / 645 🦠 156 points157 points  (40 children)

    The next one will be ETH. And the reason is because Larry Fink wants it.

    [–]IamxGreenGiant173 / 173 🦀 19 points20 points  (4 children)

    Larry Fink has somehow become crypto’s Jesus.

    [–]TinaBack433K / 3K 🐢 17 points18 points  (2 children)

    If he's crypto Jesus, then Cramer is crypto devil.

    [–]untropicalized0 / 0 🦠 3 points4 points  (0 children)

    Lol, Cramer wishes he could be that relevant

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      [–]hazzens10 / 0 🦠 0 points1 point  (0 children)

      If he is crypto Jesus, why has he crashed the price

      [–]Ilovekittens3450 / 0 🦠 2 points3 points  (0 children)

      All the other etf managers also wants it because ETH trades at like 5x the volume of LTC and BCH together and there will be much more interest for a Eth ETF then for LTC or BCH and so much more money to be made in fees.

      [–]Master-Monitor1120 / 0 🦠 -1 points0 points  (7 children)

      If ETH is classed as a security then it will not be accepted for an ETF. It wasn’t a security before when proof of work. Because they changed to proof of stake ETH might now be classed as a security.

      [–]sharkhuh2K / 2K 🐢 9 points10 points  (2 children)

      It won't be. Gutless Gary has been avoiding calling ETH a crypto in the last few months cause he knows he's going to get his ass handed to him in the courts again if he tries.

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        [–]SpaceFaceMistake976 / 976 🦑 -2 points-1 points  (0 children)

        Pretty much but yeah LTC XRP BCH ETC all will be ETFs one day stop being such short term thinkers (at everyone)

        [–]hutchinson19030 / 0 🦠 -1 points0 points  (0 children)

        Eth with CEO und PoS is worth shit

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          [–]Royjonespinkie0 / 0 🦠 13 points14 points  (0 children)

          As some in this sub are shitting on it, it must be ltc moon time.

          [–]illpoet71 / 71 🦐 45 points46 points  (1 child)

          I have been using litecoin as an actual currency since it was first available to cpu mine back in late 2011. It's always been better as a currency than btc because it's faster, and more importantly much cheaper to do transacations with. I've always thought it was weird that litecoin didn't get much more adoption

          [–]iworkisleep14 / 2K 🦐 32 points33 points  (0 children)

          The only way to shut these guys up is price nothing else. Remember this place used to hate solana so much and now saying it’ll 10x easily lol

          [–]Hank___Scorpio0 / 27K 🦠 21 points22 points  (4 children)

          Even the shib guys are trying to make their case for an etf.

          [–]Dull-Fun2K / 2K 🐢 6 points7 points  (0 children)

          Apes are gonna ape...

          [–]FlagFootballSaint0 / 0 🦠 10 points11 points  (0 children)

          Yeah that is cringy

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

          Well there is literally no path forward there. LTC has sound fundamentals/tokenomics that are very much in line with a commodity. 99.99% of other projects with premines and centralization issues are obvious securities.

          [–]Hank___Scorpio0 / 27K 🦠 -1 points0 points  (0 children)

          And the only path forward here is imitation.

          But it is human nature. Even the chat gpt subreddit, with the power of ai at their disposal can't come up with an original idea.

          [–]BuffaloBrain8840 / 0 🦠 13 points14 points  (11 children)

          I don't think there's institutional demand for a Litecoin ETF.

          From a regulatory standpoint, it makes sense because of how similar BTC and LTC are....

          However, unless the large asset managers like BlackRock and Fidelity are actually hearing from their clients that they want exposure to LTC, then it's not going to happen.

          Creating an ETF is a very different game than getting listed on an exchange.

          [–]John_Sknow1K / 1K 🐢 4 points5 points  (8 children)

          Grayscale will do it for their LTCN trust. Blackrock and others are probably already aware of this and have LTC in the works already. It's a given easy play, inevitable.

          [–]BuffaloBrain8840 / 0 🦠 -3 points-2 points  (7 children)

          I disagree. LTC is the 19th largest crypto by market cap, the trading volume is low, and the price consistently underperforms BTC.

          I don't think there will be enough demand to justify all the work it takes to get an ETF up and running.

          [–]John_Sknow1K / 1K 🐢 11 points12 points  (3 children)

          Trading volume is at 630 million , that's in the same ballpark all the way to the top beating #8 Cardano, beating out more than half of them. LTC is primed for the biggest breakout in two cycles. Huge bull flag, it will be have a comeback much to the surprise of many but myself. And it's the most transacted coin.

          All he highlights.https://www.litecoin.net/news/2023-litecoins-most-prolific-exciting-year

          [–]BuffaloBrain8840 / 0 🦠 3 points4 points  (2 children)

          Look at the LTC/BTC price chart. It's been going straight down since late 2017.

          Look back even further to 2013 and you'll realize LTC has been losing value against BTC for its entire existence.

          I don't have anything against LTC. It's just been a bad investment for a long time now. You would have been better off holding almost any other crypto during the last bull run.

          [–]John_Sknow1K / 1K 🐢 6 points7 points  (1 child)

          You could say that about all the alts, but look at it recently, big moves, bottom is in or near. It's redemption time and take-off. Biggest 8 year bull flag about to break to the up side.

          LTC highlights
          https://www.litecoin.net/news/2023-litecoins-most-prolific-exciting-year

          [–]ZucchiniDull54260 / 0 🦠 1 point2 points  (0 children)

          SOL/BTC is almost at all time highs. ETH/BTC is up 125% since 2019 even after past 500 days of under performance. Even BNB is higher with their record fines and the CEO going to prison.

          [–]SameWeekend13338 / 338 🦞 5 points6 points  (2 children)

          Hope you realize that almost every alternate month Litecoin is the highest used crypto currency on BitPay etc.

          [–]BuffaloBrain8840 / 0 🦠 1 point2 points  (1 child)

          That's irrelevant to the overall trading volume or the demand for an ETF.

          [–]SameWeekend13338 / 338 🦞 4 points5 points  (0 children)

          You can’t say LTC has negligible trading volume mate. It’s got average amount of trading volume and with ETF it will surely have more trading volume.

          [–]99Beers6K / 6K 🦭 12 points13 points  (3 children)

          This is unquestionably the most out of touch hopium I've read in 2024 AND this reeks of someone who is sitting on the sidelines of crypto that has absolutely no idea what's going on.

          [–]iwearahoodie42 / 42 🦐 1 point2 points  (0 children)

          Might as well be asking for a peercoin etf.

          [–]jam-hay7K / 7K 🦭[S] 0 points1 point  (1 child)

          This is unquestionably the most intellectual counterargument I've read in all two weeks of 2024 and reeks of someone too lazy to check the post history of Redditors they're having digs at.

          [–]99Beers6K / 6K 🦭 1 point2 points  (0 children)

          Yeah I checked your history. It looks like your copy-pasting crypto article after article to farm moons. You do know Reddit is no longer supporting moons, right?

          [–]Toyake2K / 2K 🐢 75 points76 points  (84 children)

          At the end of the day, litecoin provides no unique utility. “We copy pasted btc’s code and increased block times” isn’t revolutionary.

          It still doesn’t scale, and if it ever were to solve its scaling problem that solution could be used on btc to render ltc unnecessary.

          Btc doesn’t need silver, it’s divisibility makes it its own silver.

          [–]demedlar888 / 886 🦑 19 points20 points  (18 children)

          The question isn't whether Litecoin provides unique utility. The question is whether Litecoin provides an opportunity for profit.

          [–]rgmundo524481 / 481 🦞 2 points3 points  (16 children)

          So this is just a cash grab?

          [–]hungryforitalianfood34K / 34K 🦈 12 points13 points  (7 children)

          And the BTC ETF wasn’t? Did you think it adds utility?

          [–]Mountain-Bar-28780 / 0 🦠 2 points3 points  (5 children)

          Why else would you invest in something?

          [–]rgmundo524481 / 481 🦞 -2 points-1 points  (4 children)

          I hope you are just trolling with that question...

          [–]Mountain-Bar-28780 / 0 🦠 0 points1 point  (3 children)

          If you’re investing for any other reason than making money then you are doing it wrong.

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              [–]Odysseus_Lannister0 / 144K 🦠 9 points10 points  (1 child)

              Exactly this. It hasn’t died because it’s used often. It hasn’t mooned because it doesn’t bring anything new or innovative to the table. People looking to make serious $$ of LTC are going to be eternally disappointed.

              [–]Prahasaurus0 / 3K 🦠 -3 points-2 points  (0 children)

              Litecoin died so DOGE could live...

              [–]ReddPope810 / 0 🦠 12 points13 points  (2 children)

              Yes. It the paragraph, he said something very important. LTC is actually used for payments. So it does have a utility. Most BTC are being held and not used. So, in the context of crypto mass adoption, LTC is actually doing its job.

              Also, LTC is also grayscale's top 5 crypto trust has longevity. So, there is a strong potential that has been overlooked and should be considered

              [–]truenortheast250 / 2K 🦞 1 point2 points  (1 child)

              I agree with this. I got into Bitcoin mining in 2017 and mined straight to a cex wallet. I swapped about 1/3 of it to LTC for a long-term hodl. I got really excited about defi summer in 2020 and swapped it all for ETH at $150, put it in the eth/usdc pool in uniswap, made a ton, plus got the uniswap airdrop which I swing traded for months and used the profit from that to buy Solana at $3.

              I still find $LTC useful for sending money between people because it's one of the most convertible cryptos out there and it's fast and cheap to use as well as being relatively easy to understand for new users. Even though I do think there are better things to hodl and better places to put crypto to make money, I'll probably keep using it for a long time.

              [–]ZucchiniDull54260 / 0 🦠 2 points3 points  (0 children)

              Why not use USDT or USDC. They convert 1:1 to USD on most exchanges. Why eat the spread and fluctuations in price?

              [–]DonJohnElGuapo 7 points8 points  (16 children)

              No unique utility over Bitcoin? I may be talking out of my ass here, but wasn’t there some kind of update about the option of being able to do private/anonymous transactions?

              [–]rgmundo524481 / 481 🦞 7 points8 points  (15 children)

              Yes mimble-wimble! The name is a joke from Harry Potter which there is a spell that stops people from talking. Hence keeping the secret.

              Ok they let's compare it to its completion ZCash and Monero.

              Mimblewimble achieves privacy through transaction aggregation, reducing data on the blockchain. This means it's privacy comes from the volume of transactions going through the protocol. So one's privacy depends on how popular miblewimble is. Sadly it's has not see much use and therefore its privacy is a bit weak. If more people use it then it will be more useful.

              Zcash's zk-SNARKs enable selective disclosure, providing privacy without revealing transaction details. This doesn't depend on volume flowing through the system. It is inherently stronger privacy.

              Monero... Just world class default privacy.

              In each situation miblewimble falls short in comparison.

              [–]libretumente1K / 1K 🐢 2 points3 points  (3 children)

              And Neither XMR or ZCash have close to the adoption and mcap of LTC because they went all in on privacy. They will never be adopted by wall street because of that whereas LTC is more viable.

              [–]rgmundo524481 / 481 🦞 1 point2 points  (0 children)

              I agree the XMR and ZCash have a reputational problem, especially XMR. As the unofficial currency of the darkweb it touches the worst of humanity. Nevertheless it honestly has the only self-sustaining economy. Where people actually use it to purchase goods and services instead of as a speculative bet but... It's mostly used to buy drugs and really fucked up things...

              Wall Street will never accept them. There is even a bounty out on breaking Monero issued the US government... It absolutely will never get an adoption from institutions.

              But that doesn't mean mimblewimble will be successful. Maybe in the short term because their competitors are being artificially held back by regulators. But eventually there were be another cryptocurrency that will solve their problems and I don't believe it will be LTC.

              But I could be wrong.

              [–]Zorbithia1 / 106 🦠 0 points1 point  (0 children)

              That's totally fine - anyone who has ever used Monero or knows the first thing about the XMR community is well-aware that the last thing any of us want is to be "adopted" by Wall Street.

              Z-Cash is dying and is on the way out, they are currently dealing with a situation where the largest ZEC mining pool has 54% of hash power...they've been delaying a supposed transition to proof-of-stake (first to a "hybrid" model, so they claim), but long-term they are moving to an entirely proof-of-stake consensus model, which makes the entire project pointless.

              Monero will live on, provided that there isn't some kind of major breakthrough which renders it's security properties null and void. This is likely to happen at some point, honestly, but for now, it's the best there is...at least out of the options which exist and have actual people using them.

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                  [–]BioRobotTch244 / 244 🦀 23 points24 points  (33 children)

                  Litecoin is already used for more payments than BTC, so isn't it winning compared to BTC on scaling and usability as a means of exchange there?

                  [–]DiarrheaShitLord0 / 4K 🦠 21 points22 points  (29 children)

                  If it's winning for payments then what the fuck do we need a ETF from it then? Lol

                  [–]torvaman5K / 5K 🐢 15 points16 points  (16 children)

                  Dude these people are lost. Payments is not a utility litecoin wants to solve. It’s already beaten many times over by stablecoins on ETH L2s or even other L1s like SOL, ALGO, and literally any high tps l1 with smart contracts.

                  So if it’s not first, it’s not more scarce than bitcoin, it’s not as programmable as ETH, it’s not as fast as most L1s, it’s definitely not as fast as any L2….

                  It reminds me of my marketing class in university where we learned you don’t really want your product to be in the middle as people need one variable or the other. They rarely need something in the middle and is why best selling products are either the cheapest, the best, or the easiest.

                  [–]Beer1010100 / 214 🦠 6 points7 points  (3 children)

                  I don't see how L2s solve anything, it's just a band aid, to solve ETH fees. Everything built on ETH is fees, fees, and more fees. Smart contacts, defi, you name it, high fees again.

                  LTC is used a lot, because it's available everywhere, and fees are cheap. Sure it's not the best store of value, but having utility and adoption is something a lot of shitcoins don't have.

                  Also, LTC hasn't pumped yet like most cryptos, market will do it's thing eventually.

                  [–]torvaman5K / 5K 🐢 2 points3 points  (2 children)

                  I don't see how L2s solve anything, it's just a band aid, to solve ETH fees. Everything built on ETH is fees, fees, and more fees. Smart contacts, defi, you name it, high fees again.

                  I dont know how this sentence can even be uttered. You just described the problem that L2s solve. They have cheap transactions while inheriting the security of ethereum.

                  Ethereum is still top dog because it is incredibly secure meaning you can sleep at night knowing your transaction wont get rolled back. A common symptom of high security? High fees.

                  Now what if you could use another solution on ETH that guarantees the security and is low fees? That's an L2. Think you need to brush up on the blockchain trilemma.

                  LTC isnt even on the same planet, let alone the same conversation, for solving the blockchain trilemma. If you want to hold it for a pump, whatever. But when it does pump as all crypto tends to do eventually in a bull, i hope you remember that it's not actually solving any problems and roll those profits into something like ETH, BTC, or cash.

                  [–]Beer1010100 / 214 🦠 -1 points0 points  (1 child)

                  You say ETH and secure, in the same sentence, with transactions that won't get rolled back. Are you kiding me ? Never heard of the DAO hack ?

                  You see L2s as a feature, it's just a band-aid, to solve scalability issues on ETH.

                  The point is ETH should be fixed in the first place.

                  [–]torvaman5K / 5K 🐢 4 points5 points  (0 children)

                  How long ago was the DAO hack? Remind me, because it seems to be so recent in your memory and nothing has changed apparently since then. Because last I checked, it's 2024 not 2016.

                  "Fixing" ETH in your imagination means making it less decentralized, higher TPS, and less secure. That's just Solana.

                  and STILL is not a compelling Litecoin argument lol. sell your portfolio friend, you're not cut out for this.

                  [–]hungryforitalianfood34K / 34K 🦈 2 points3 points  (11 children)

                  Litecoin does one thing, and it does it… decently, but only because no one uses it.

                  [–]rgmundo524481 / 481 🦞 -1 points0 points  (10 children)

                  I absolutely agree. LTC did make a few improvements to Bitcoin but it's not enough to solve it's scaling problems and not enough in comparison to the rest of the market.

                  [–]defialpro0 / 0 🦠 -5 points-4 points  (9 children)

                  Internet computer solves the scaling issue with btc. ckBTC, where it can co mingle with ckETH and operate on traditional finance without oracles and natively with the icp cloud.

                  There’s literally no competition to that utility. If there’s something better than that I’d like to know, so I can buy some of that too. I’m all ears

                  [–]BitSoMi41 / 10K 🦐 2 points3 points  (4 children)

                  People really dont care about the tech

                  [–]defialpro0 / 0 🦠 -1 points0 points  (3 children)

                  What do they care about then? Something nebulous like their feelings and narratives?

                  [–]BitSoMi41 / 10K 🦐 2 points3 points  (0 children)

                  Number go up

                  [–]Zorbithia1 / 106 🦠 0 points1 point  (1 child)

                  I would answer your question, but you seem to have done so already yourself.

                  Well, that (their feelings and narratives), and as someone else has correctly pointed out, "number goes up".

                  99.9% of people in crypto do not give a single shit about the technology. It's not even up for debate.

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                    [–]BioRobotTch244 / 244 🦀 2 points3 points  (8 children)

                    If bitcoin offers the best self-custodial store of value (it has!) why the fuck did it need an ETF?

                    [–]torvaman5K / 5K 🐢 5 points6 points  (0 children)

                    An etf is just a rail for money in different accounts to have access to it. The ETF doesn’t affect the bitcoin network at all, just how the asset is traded.

                    It would be like if I was an apple cellar, and I finally got my apples on the shelves at Walmart. My apples didn’t change just how they were bought or sold

                    [–]DiarrheaShitLord0 / 4K 🦠 2 points3 points  (5 children)

                    To add onto that store of value part.. that's literally the ETF purpose

                    [–]BioRobotTch244 / 244 🦀 2 points3 points  (0 children)

                    The T from ETF is Traded so litecoin has less friction to trade some people value that.

                    The whole reason we lost the gold standard was the illiquidity of gold.

                    [–]scrape_ur_face0 / 0 🦠 0 points1 point  (3 children)

                    Store of value for whom? The person who purchased the ETF or the financial institution? Because they'll most likely prevent you from taking the BTC from the ETF into self-custody. Can you expound on "that's literally the ETF purpose"?

                    [–]DiarrheaShitLord0 / 4K 🦠 4 points5 points  (1 child)

                    The ETF purpose is to make Bitcoin more accessible, More people can buy it, price go up. More value.

                    [–]Zorbithia1 / 106 🦠 2 points3 points  (0 children)

                    Correct - the money you send to whatever ETF you are purchasing, goes in as USD and comes out as USD.

                    The fund managing the ETF (Blackrock, Valkyrie, Fidelity, etc.) purchase actual bitcoin and have to "fulfill their obligations" by the close of the market each day, to explain it in simple terms.

                    But you absolutely will not be withdrawing it to your own wallet to be held in self-custody, whatsoever. In fact, I (and many others, those of us who are well-aware of what's going on that is), would say that the entire reason behind these ETFs, if you're looking at the long term picture here, is that they do so much in helping to ultimately destroy bitcoin. Bitcoin is no longer any kind of a threat to the corrupt central banks and fiat system, it's now a part of it, that the same corrupt bankers and Wall Street vermin are milking for profits. Congratulations guys, Satoshi is rolling in his grave.

                    [–]looneytones8133 / 133 🦀 -1 points0 points  (2 children)

                    These morons always conveniently forget the lightning network makes LTC or any other “payments crypto” obsolete.

                    [–]Zorbithia1 / 106 🦠 1 point2 points  (1 child)

                    Very few people use lightning network -- lightning sucks, to be honest. It's not a scaling solution for bitcoin whatsoever, especially in the current high fee environment brought upon by the ordinals and BRC-20 craze. Because of how expensive (not to mention complicated - to many people) it is to open up channels at the moment, the overwhelming majority of people who are actually using lightning (including myself and everyone I know), are doing so with a custodial wallet like WalletOfSatoshi, Alby, etc. This negates the entire point of using crypto in the first place, you're essentially entrusting these wallet providers with whatever funds you have on your wallet, hoping that they don't rug you in the middle of the night. Otherwise you have to set up your own lightning network node and get/manage liquidity channels, which come with all sorts of problems and major pains in the ass, like forced enclosures and things like that.

                    [–]looneytones8133 / 133 🦀 -1 points0 points  (0 children)

                    Your comment is entirely anecdotal. Everyone I know uses it in a custodial manner. My experience with lightning has been amazing and gets better every year. Gotta see where things trend not where they’re at. I personally have zero use for any shitcoin, and the number of vendors that accept lightning dwarfs any that accept shitcoins.

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                      [–]PassiveRoadRage0 / 2K 🦠 2 points3 points  (1 child)

                      LTC also has an anonymity feature similar to Moneroes you can use. For that reason it won't be popular for the government.

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

                      But it is optional unlike XMR's

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                        [–]haman880 / 0 🦠 23 points24 points  (0 children)

                        Bagholder spotted

                        [–]deano185669 / 69 🦐 6 points7 points  (0 children)

                        Hell yeah!

                        [–]fruitgamingspacstuff243 / 242 🦀 2 points3 points  (0 children)

                        Oh I fucking hope so. I'm still holding them bags from 2017/18 😭

                        [–]Yattiel0 / 407 🦠 13 points14 points  (19 children)

                        Does nobody realize that these etfs are what allows them to control the price? Just like gold and silver etfs allows them to control their price.

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

                        But BTC holdings can be instantaneously audited and transfered and therefore much less likely to be fucked with on paper like gold and silver have been. Keeping track of and auditing a storehouse of physical commodities is not the same as the same for digital gold (BTC or LTC).

                        [–]Yattiel0 / 407 🦠 0 points1 point  (0 children)

                        Hahaha, ya sure.... Lol they enforce rules you think? The stock market is trash because of the amount of ftds they create. They make a few billion on an illegal activity, and get fined a couple hundred grand (if they get caught, which is a rare occurrence)

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                          [–]TwoCapybarasInACoatPermabanned 1 point2 points  (5 children)

                          How so? Sounds like a conspiracy myth to me

                          [–]RoachWithWings940 / 940 🦑 3 points4 points  (0 children)

                          Because it is a conspiracy myth

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                            [–]Charming_Rub_52750 / 0 🦠 1 point2 points  (9 children)

                            Sounds like you don’t know what an ETF is or how it works. Sounds like you also didn’t know that bitcoin ETFs including derivatives have been around for years already.

                            [–]Yattiel0 / 407 🦠 -1 points0 points  (1 child)

                            Ya, years in other countries. I very much know actually. I think you don't have a clue

                            [–]Charming_Rub_52750 / 0 🦠 1 point2 points  (0 children)

                            Please explain how they’ll use the ETFs to manipulate price then

                            [–]Yattiel0 / 407 🦠 -3 points-2 points  (6 children)

                            A bitcoin etf allows hedgefunds and market makers the opportunity to create fail to delivers (ftd's) and also create fake shares through naked shorting and lower the price by using OTC markets which don't effect the price, so they can buy there and then sell on the open market.

                            [–]Charming_Rub_52750 / 0 🦠 1 point2 points  (1 child)

                            Thinking OTC markets don’t affect the price is very naive

                            [–]Yattiel0 / 407 🦠 -1 points0 points  (0 children)

                            What are you talking about? You just disagreed with me... and now you're saying the same thing I said. OTC markets very much effect the price, as I wrote.

                            [–]DublinStories57 / 66 🦐 0 points1 point  (3 children)

                            Correct,been happening on GameStop ETFs for years, short the ETFs pull shares (coins) out of thin air. They will control the price from now on to suit their agenda.

                            [–]Yattiel0 / 407 🦠 2 points3 points  (2 children)

                            Ya, Gme etf is like 400% shorted. And who knows how many ftds there are

                            [–]DublinStories57 / 66 🦐 1 point2 points  (1 child)

                            It's the wild,wild west from here on in for bitcoin in my opinion.

                            [–]Yattiel0 / 407 🦠 1 point2 points  (0 children)

                            Ya, I honestly was excited for the next bullrun, because if it's happened 3 times in a row, it's bound to happen again... but this changes everything.

                            [–]2BFrank692K / 2K 🐢 4 points5 points  (0 children)

                            LTC is good, it’s easy to make payments on. There’s way better ways to make money though 🤷‍♂️

                            [–]TheRealMangokill0 / 0 🦠 5 points6 points  (0 children)

                            LTC 🚀 🚀🚀🚀 Also "Litecoin.The Grayscale Litecoin Trust has almost $110m LTC under management and is one of their top 5 largest crypto trusts." Grayslake Litecoin Trust has almost $110m dollars IN LTC.  There are only 74 Million circulating supply LTC. When LTC pops, it's going to like $4,000.

                            [–]Familiar_Television10 / 0 🦠 9 points10 points  (8 children)

                            Makes sense. If I was Greyscale I would be filing for a LTC ETF now. Then ETH and the others. At least get 2 victories under the belt.

                            [–]SpaceFaceMistake976 / 976 🦑 1 point2 points  (0 children)

                            I’m back by it like I have for the last 11 years!

                            [–]No-Newspaper18990 / 0 🦠 1 point2 points  (1 child)

                            I think the next one will be ETH. Let's see what happens next

                            [–]IndependenceNo20600 / 0 🦠 7 points8 points  (6 children)

                            I still believe in Litecoin's potential regardless of past criticisms.

                            [–]Specialist_Passage2942 / 42 🦐 4 points5 points  (2 children)

                            Potential to do what?

                            [–]Ephinem2 / 6 🦠 9 points10 points  (0 children)

                            Potential to make him money obviously

                            [–]SameWeekend13338 / 338 🦞 4 points5 points  (0 children)

                            To make another ATH

                            [–]rgmundo524481 / 481 🦞 -2 points-1 points  (2 children)

                            LTC is great, but its old technology. LTC doesn't provide any additional utility that Bitcoin doesn't.

                            It absolutely is more scalable than Bitcoin, but still nowhere near Visa. If we find a way to scale LTC then it can also be applied to Bitcoin. Which would render LTC useless.

                            The entire crypto industry is moving towards a smart contract Blockchains. In my personal opinion, there will be few adoption opportunities and utility for Blockchains that don't have smart contracts. I believe LTC would have to overthrow Bitcoin to justify its position within the cryptocurrency industry. I also believe LTC is better than Bitcoin, but it will be ungodly difficult to overthrow Bitcoin. So difficult that I just don't see it happening.

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

                            LTC does not need to overthrow BTC to be relevant. It continues to be a very efficient means of value transfer and is much cheaper and faster to transact with than BTC and for that reason it has a use case as a cryptoCURRENCY, not just a SOV which BTC has become due to it's slow and expensive transfer fees.

                            [–]BeefOnWeck240 / 0 🦠 5 points6 points  (3 children)

                            the litecoin sentiment here starkly reminds me of the solana sentiment here just a few years ago

                            [–]libretumente1K / 1K 🐢 13 points14 points  (2 children)

                            Solana is a centralized, premined, VC backed dumpster fire with atrocious network outages though. LTC is #1 for network uptime, longer than BTC.

                            [–]BeefOnWeck240 / 0 🦠 2 points3 points  (1 child)

                            you need to understand that whatever you just said about solana doesn't change the fact I am up 1000% since buying it during the FTX collapse.

                            [–]rubeo_O205 / 205 🦀 1 point2 points  (0 children)

                            This post marks the top

                            [–]skyhermit0 / 0 🦠 1 point2 points  (0 children)

                            I am not surprised if LTC gets an ETF before ETH.

                            Its code is copied from Bitcoin's and is not deemed a security

                            [–]madethisforcrypto0 / 0 🦠 1 point2 points  (0 children)

                            Lol

                            [–]PrestigiousDay95350 / 0 🦠 0 points1 point  (7 children)

                            The only use case for litecoin was for its creator to get rich and abandon ship. And that was done, nothing else to see here.

                            [–]jam-hay7K / 7K 🦭[S] 8 points9 points  (6 children)

                            This has been dispelled as FUD numerous times now Litecoin made another ATH after and Charlie Lee sold out to stop accusations any decisions he was making were to pump his own holdings. Although he has no Litecoin he still actively works on the Litecoin project and stayed true to his word. Also the launch was 100% with no premine he announced it publicly for everyone to join on BitcoinTalk. You might want to DYOR in Litecoins founder, he had a good job as a Google engineer but gave it up to work in Litecoin bitd when crypto was nowhere. Charlie is probably one of the most honest guys in crypto and Litecoin is one of the most honest projects as a result.

                            [–]PrestigiousDay95350 / 0 🦠 4 points5 points  (4 children)

                            He dumped his coins at the ATH to dispel the FUD about him wanting to pump and unload on his community at the ATH. Yep, sounds correct to me.

                            Anyway, you do whatever you want, that coin is dead without any use case.

                            [–]FlagFootballSaint0 / 0 🦠 11 points12 points  (0 children)

                            "without use case"

                            Isn't it the one most used for payments?

                            [–]Familiar_Television10 / 0 🦠 8 points9 points  (1 child)

                            He sold at around 300 and it went to 400.

                            Also, dead and without any use case? It is the most popular coin for payments and actual utility. If that’s what you mean by “dead without any use case” then I’d like to know of other dead coins without any use case so I can invest in those too.

                            [–]rgmundo524481 / 481 🦞 -1 points0 points  (0 children)

                            It is the most popular coin for payments and actual utility.

                            True in comparison to other L1 but not true in comparison to stable coin payments.

                            [–]jam-hay7K / 7K 🦭[S] 8 points9 points  (0 children)

                            You're tripping nearly every current project in crypto the founders have a massive stack of their own coins and are being personally enriched everyday.. including Bitcoin/ Satoshi Nakamoto... you suggesting that's better?

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                              [–]VangelisTheosis0 / 0 🦠 1 point2 points  (0 children)

                              Litecoin is dead.

                              [–]flying_bacon884 / 883 🦑 2 points3 points  (3 children)

                              We don’t need another crypto spot etf right away. And if another one were to happen it would be ETH

                              [–]Ameks73552 / 552 🦑 0 points1 point  (5 children)

                              Don't think so.... ETH next

                              [–]SameWeekend13338 / 338 🦞 0 points1 point  (4 children)

                              Going to be difficult for ETH to get an ETF honestly considering SEC will be walking on egg shells to not set precedent for other ETH based tokens and securities.

                              [–]phincster156 / 156 🦀 0 points1 point  (0 children)

                              Litecoin will never get an etf. They have added an optional privacy feature (mimblewimble) that will never be kosher with the united states government.

                              I do like the coin though for that very reason.

                              [–]bcmeer182 / 181 🦀 0 points1 point  (0 children)

                              Next will be ETH ETF probably, that’s the real silver crypto.

                              [–]d3vrandom401 / 401 🦞 0 points1 point  (5 children)

                              LTC is not a bitcoin fork!

                              [–]JoeYo7430 / 626 🦠 2 points3 points  (4 children)

                              You are correct. "Litecoin was created from a copy of Bitcoin’s source code — as opposed to forking it from the Bitcoin blockchain — which makes Litecoin an entirely new blockchain without a shared genesis block."

                              But in simple terms its easier to refer to the copying as a fork.

                              [–]Objective_Digit0 / 0 🦠 -1 points0 points  (2 children)

                              None of them are forks really. A fork should be retraceable. None of the Bitcoin clones are backwards compatible with old Bitcoin.

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                                [–]nomoney1100 / 0 🦠 0 points1 point  (0 children)

                                To be honest, I'm surprised that Litecoin is still around. I don't think that will ever happen. Doesn't make any sense either.

                                [–]jersey-city-park256 / 256 🦞 0 points1 point  (0 children)

                                Litecoin in 2023 lmao

                                [–]endless_ness2K / 2K 🐢 0 points1 point  (0 children)

                                Lmao 

                                Stop 

                                [–]philgustus0 / 0 🦠 0 points1 point  (0 children)

                                Who even buys LTC

                                [–]terp_studios0 / 2K 🦠 0 points1 point  (0 children)

                                Every time I don’t think it’s possible, this sub proves me wrong and enters a new level of delusion.

                                [–]jadequarter0 / 0 🦠 0 points1 point  (0 children)

                                eth is next in line lol

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

                                Is this a parody like the other post?

                                [–]MightyPie2112 / 9 🦠 0 points1 point  (0 children)

                                Oh honey...

                                [–]dubski040211K / 1K 🐢 -2 points-1 points  (0 children)

                                ETH is next…. Not litecoin imo

                                [–]GreenStretch16 / 18K 🦐 -1 points0 points  (0 children)

                                And when the court case is over: BTC, LTC, and XRP, los tres cuates.

                                [–]Girrrth_Broooks0 / 0 🦠 -3 points-2 points  (0 children)

                                It’s not going to be the next ETF. The next ones will be either ETH or XRP.

                                [–]RedChief10 / 10 🦐 -4 points-3 points  (0 children)

                                Lol

                                [–]Biggerfooter0 / 0 🦠 -3 points-2 points  (1 child)

                                litecoin cope is cringe, move on

                                [–]webcnyew0 / 0 🦠 -1 points0 points  (0 children)

                                I won’t disagree but I’m not sure this goes far enough…if I was looking for a crypto ETF it wouldn’t be one that simply has one coin in it. Yes, it is nice to point some 401k or Roth money at it but the real appeal for me will be an ETF offering basket of different coins. In that way the brokerages can start to diversify in wonderful snd magical ways…and I get the benefit of not buying a singularly focused fund…and choice of which mix I want beyond that. The funds can even start charging more for the fund managers manager who arguably could “manage”. I know that notion in this group of more independently thinking folks might not speak to everyone heart but for many, less involved, investors that would be valuable.

                                [–]Nimoy2313113 / 113 🦀 -1 points0 points  (0 children)

                                lol, let’s just be happy with the Bitcoin ETF. The others aren’t going to pass and they aren’t needed.

                                [–]sn0wballa4 / 544 🦠 -1 points0 points  (0 children)

                                tell me you got a litecoin bag you want to unload

                                [–]Careful-Temporary3880 / 0 🦠 -1 points0 points  (0 children)

                                This has zero percent chance of happening. LTC market is dogshit.

                                [–]inverses22K / 2K 🐢 -1 points0 points  (0 children)

                                Litecoin still a thing?

                                [–]GoodSamoSamo0 / 0 🦠 -1 points0 points  (0 children)

                                Bro no one gives a fuck about LTC.

                                [–]alexandar_supertramp0 / 0 🦠 -3 points-2 points  (0 children)

                                Holy mother of hopeium right here. Gl

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