×

217
218

GENERAL-NEWSLitecoin (LTC) Now Accepted for Microsoft Payments (cryptonewsbtc.org)

submitted by TheGreatCryptopo40K / 93K 🦈

all 99 comments
sorted by:
best
topnewcontroversialoldq&a

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

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

[–]Simke110 / 5K 🦠 167 points168 points  (12 children)

Its BitPay, Microsoft isn’t accepting LTC

[–]Jabanger0 / 2K 🦠 52 points53 points  (4 children)

Theyre trying any headline they can to generate interest in this dead horse

[–]squeezeontoast0 / 0 🦠 23 points24 points  (2 children)

This news is old buy Litecoin is far from dead, it's the most used crypto payment method on Bitpay.

[–]HalfJobRob159 / 159 🦀 1 point2 points  (0 children)

Is Bitpay really a crypto payment method? Or is it a payment processor that converts crypto to fiat at point of sale?

[–]GranPino0 / 3K 🦠 -1 points0 points  (0 children)

Bitpay is a very small part of crypto. Reality is Litecoin is quite irrelevant

[–]Cravensworth_3dux2 / 5K 🦠 2 points3 points  (0 children)

Yeah this stuff used to be Moon Farming gold! Every Bitpay accepted service was its own headline.

[–]Apart-Apple-Red0 / 0 🦠 9 points10 points  (5 children)

Bitpay is a selective scam. Do not use it.

They stole money from me. Their support made me jump through hoops to get it back and I never did.

They are thieves.

[–]Valentino_sk100 / 0 🦠 3 points4 points  (2 children)

i had the same experience. i already vow never to use them again

[–]ChanceFray0 / 0 🦠 0 points1 point  (0 children)

I had the same experience… I am noticing a pattern here…

[–]VictorOgorodnov41 / 41 🦐 0 points1 point  (0 children)

Really? I never had any problems.

[–]purzeldiplumms20 / 46 🦐 1 point2 points  (0 children)

I KNEW it's another bullshit shill

[–]VictorOgorodnov41 / 41 🦐 34 points35 points  (4 children)

LTC is a stablecoin for the past year.

[–]noviwu970 / 2K 🦠 7 points8 points  (1 child)

Last year LTC was like $93, down 27%

A lot of coins underperformed BTC the past year, but they still go up in dollar terms. Not LTC though.

[–]Dormage4K / 4K 🐢 0 points1 point  (0 children)

Zoom out ltc-btc pls.

[–]66theDude99437 / 437 🦞 1 point2 points  (0 children)

Not really but more like the past 3 months, a 69$ stable

[–]Objective_Digit0 / 0 🦠 0 points1 point  (0 children)

Not priced in BTC it isn't.

[–]ptrnyc186 / 186 🦀 22 points23 points  (1 child)

This has the potential to push it past $69, maybe all the way to $72

[–]aliensmadeus0 / 9K 🦠 0 points1 point  (0 children)

don't give me that hope

[–]Joey328170 / 0 🦠 5 points6 points  (0 children)

Maybe because LTC is now a stablecoin.. price is only so so ... around 70ish since BTC pumped recently

[–]croholdr361 / 361 🦞 11 points12 points  (19 children)

When ltc pamp?

[–]GMEthLoopring3K / 3K 🐢 6 points7 points  (18 children)

When Charlie Lee BUYS

[–][deleted] -1 points0 points  (17 children)

Who's Charlie Lee?

[–]GMEthLoopring3K / 3K 🐢 14 points15 points  (16 children)

Creator of Litecoin who dumped his whole holding at $300 back in… uhhhh was it 2017?

To “avoid conflict of interest” 🤣

[–]SeriousGains8K / 8K 🦭 5 points6 points  (3 children)

Charlie Lee rugged LTC holders. Never forget.

[–]croholdr361 / 361 🦞 -1 points0 points  (2 children)

i think you forgot what 'rugged' means. he didn't rug; he sold out.

[–]SeriousGains8K / 8K 🦭 0 points1 point  (1 child)

I was one of those holders and it was a total rugging. The guy is a scumbag. True founders don’t exit like that.

[–]croholdr361 / 361 🦞 1 point2 points  (0 children)

Here you go. Selling what is yours isnt rugging. Sorry you lost money but you still have a token.

[–][deleted] 0 points1 point  (10 children)

I'm not seeing the relevance here. So what?

[–]GMEthLoopring3K / 3K 🐢 -2 points-1 points  (8 children)

Oh

I was trying to say I’m bearish on LTC

Like, it would pump if he bought back, but otherwise I don’t foresee a pump on the LTC/btc ratio

[–][deleted] 3 points4 points  (7 children)

Why would him buying back make it pump? It's PoW decentralised, isn't it?

[–]GMEthLoopring3K / 3K 🐢 -1 points0 points  (6 children)

Ok my original comment really wasn’t meant to be serious

But hype I suppose, crypto pumps are based on hype

LTC is lacking in that department

[–]baby-einstein0 / 0 🦠 5 points6 points  (4 children)

It's a good thing that LTC lacks hype pumps..its meant to be used for everyday payments/transactions so it's price needs to not be influenced too much by hype.

[–]croholdr361 / 361 🦞 1 point2 points  (1 child)

4 real i just traded a bunch of mining earnings into ltc cause it was down and cheap to move, so i got my orders at around 74 looking to make an extra dollah or two so I can buy a fancy ps5 controller. I'm flexing because I don't even own a ps5 and I'll be using it on my pc.

[–]Key_Friendship_67670 / 0 🦠 -4 points-3 points  (0 children)

It’s just a copy and paste of bitcoin with some limits changed to allow a little more throughout. At high scale it would suffer from exact same issues as btc. Nobody uses this network though so it seems cheap.

[–]GMEthLoopring3K / 3K 🐢 -2 points-1 points  (0 children)

Ayyooo just like Monero :D

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

Oh right.

Well thank you for the confusing conversation anyway lol.

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

After becoming a coinbase employee just to be able to list and dump it. Then he quit coinbase again. He then became the hero of the bagholders he dumped on, who said "wow what a guy, he is doing it to help us!"

Only in crypto ...

[–]iworkisleep14 / 2K 🦐 10 points11 points  (0 children)

Fucken LTC last time Wal-Mart accepted it then it was fake news

[–]Dehyak2K / 2K 🐢 2 points3 points  (0 children)

Dude, Amazon could accept crypto payments and it still wouldnt matter

[–]Sad-Consideration-690 / 0 🦠 1 point2 points  (0 children)

Is LTC not favoured any more by the majority?

[–]RandomNordicGuy0 / 0 🦠 1 point2 points  (0 children)

This is still my favorite crypto in the market, also the best technical indicator. 100% hit rate so far

[–]voric410 / 0 🦠 7 points8 points  (25 children)

How tf is LTC & BCH so low?

BTC tx is so high you’re gonna need layer 1 decentralized solutions that are cheap. These are the best 2 options

[–]LIGHTLY_SEARED_ANUS569 / 569 🦑 11 points12 points  (2 children)

Same reason USB beat out FireWire.

Shit just happens sometimes, and folks who pretend to know why are full of shit.

[–]HSuke 2 points3 points  (0 children)

The is limited space on devices, so manufacturers have to be picky.

And then the Network effect takes over, and the popularity of one option snowballs as more manufacturers join that side.

It could've gone either way. Perhaps USB being slightly cheaper than FireWire was the starting snowflake.

[–]Objective_Digit0 / 0 🦠 1 point2 points  (0 children)

It isn't just shit happening. Bitcoin has the network effect, liquidity, and is far more computationally supported and decentralized than those two.

[–]Substantial_Run80100 / 0 🦠 -1 points0 points  (18 children)

Because if BCH or Litecoin get widely adopted, they will also suffer the exact same problems that Bitcoin has now.

[–]Dramatic_Discount2870 / 0 🦠 13 points14 points  (15 children)

No, Bitcoin Cash's block size is 32 MB, and Litecoin uses a different hashing algorithm. This gives them a higher TPS (transactions per second) than Bitcoin. TPS is an independent variable and demonstrates the maximum amount of transactions a blockchain can process, regardless of blockchain activity. TPS does not fluctuate as adoption grows.

Bitcoin does ~7 TPS, whereas Bitcoin Cash will be ~100 TPS, and Litecoin is ~50 TPS. Hypothetically, if Bitcoin Cash or Litecoin immediately inherited the entire Bitcoin transaction stream, they would still process transactions at an exponentially higher rate.

Bitcoin Cash & Litecoin would need to become exponentially more adopted than Bitcoin currently is for a similar experience to be exhibited. These are different blockchains with different performance. I'm not saying one is better than another, but BCH and LTC are designed for utmost transactional efficiency.

[–]Key_Friendship_67670 / 0 🦠 2 points3 points  (14 children)

100tps is not even close to fast enough to use for all payments on the planet everyday. Visa does 10s of thousands per second. It would eventually just suffer the same problem as bitcoin. Neither LTC or BCH are a solution for anything. They are just low right now because nobody uses them.

[–]Dramatic_Discount2870 / 0 🦠 7 points8 points  (12 children)

Yes, obviously, Mr. Shurlock. Cryptocurrencies are not efficient enough to replace fiat. This conclusion has been obvious since the inception of Bitcoin. The implication they made that BCH and LTC are more transactionally efficient because they are less popular and experience less load than Bitcoin is not true and I explained why.

Bitcoin Cash & Litecoin would need to become exponentially more adopted than Bitcoin currently is for a similar experience to be exhibited.

As you can see here, I state they would need to become exponentially more adopted than Bitcoin currently is for their experience to become similar to using Bitcoin in its current state.

Your reply is making that same point. What exactly do you think you are accomplishing?

They are just low right now because nobody uses them.

Litecoin is the most popular currency on BitPay, over-taking Bitcoin since November 2023 when Bitcoin started experiencing increased fee instability.

[–]Objective_Digit0 / 0 🦠 -1 points0 points  (6 children)

Cryptocurrencies are not efficient enough to replace fiat.

Bitcoin and L2 is. You think "fiat" is not using and L2 and L3?

[–]Dramatic_Discount2870 / 0 🦠 0 points1 point  (5 children)

I'm assuming you are referencing Lightning?

[–]Objective_Digit0 / 0 🦠 -1 points0 points  (4 children)

Lightning or any L2.

[–]Dramatic_Discount2870 / 0 🦠 2 points3 points  (3 children)

The Lightning Network cannot scale to support mass-adoption. This was known and noted during the development of Lightning Network by its developers. It was never meant to scale.

The Lightning Network white-paper stated that with only two on-chain transactions a year per person at a population of seven billion, Bitcoin would require 133 MB blocks for Lightning to work. Bitcoin's block size is 1 MB, and there is no foreseeable future of which it can rise appropriately for Lightning Network. The last demand for an increased block size resulted in a hard fork, Bitcoin Cash.

For perspective over Lightning's block size requirements:

  1. At 7 billion people, you'd need 133 MB.
  2. At 1 billion people, you'd need 19 MB.
  3. At 500 million people, you'd need 9.5 MB.
  4. At 250 million people, you'd need 4.75 MB.
  5. At 125 million people, you'd need 2.375 MB.
  6. At 62.5 million people, you'd need 1.1875 MB.

At the current block size of 1 MB, a maximum of ~60 million people could only perform two operations a year. Which means that you can create your channel (operation 1), then reallocate the funds of it (operation 2). Then, you're done for the rest of the year.

The scaling problem becomes way, way worse when you factor in how most people will be doing this stuff once a week (to match their paychecks). Because of this, Lightning could not scale into mass-adoption. It would need to be entirely revolutionized.

It's certainly possible that a new Layer 2 or Layer 3 solution can be introduced in the future for Bitcoin. However, right now, Bitcoin's native blockchain nor Lightning could handle mass adoption to that of fiat. The goal must be subsided until further developments occur. I am not informed about other Layer 2 solutions other than Lightning, so those could be it already, or they could not.

[–]Objective_Digit0 / 0 🦠 0 points1 point  (2 children)

Give me a source for these dubious claims.

[–]Key_Friendship_67670 / 0 🦠 -5 points-4 points  (4 children)

It’s a linear copy and paste that makes the blocks bigger and allows a little bit more throughout. There is nothing smart in this technology that accounts for scaling. Would be a waste to adopt LTC or BCH. Network effect of main Bitcoin chain is far more important than whatever gain you think you are getting. It is no gain at all

[–]Dramatic_Discount2870 / 0 🦠 5 points6 points  (3 children)

Network effect of main Bitcoin chain is far more important than whatever gain you think you are getting. It is no gain at all

No one is talking about investing in LTC over BTC. The topic is the transactional efficiency of these cryptocurrencies. This is the second time you've gotten lost in the conversation.

There is nothing smart in this technology that accounts for scaling.

You lack knowledge of the technical specifications of the blockchain. It's evident for two reasons: your post history is loaded with shit takes about cryptocurrencies, and you are repeatedly incapable of describing the intricate details of differences between LTC, BCH, and Bitcoin. "It allows more throughput", over-shooting how it achieves higher TPS because you don't really know how. You are almost ideologically opposed to absorbing new information while I am telling it to your face.

While you could say "yes, ltc is more efficient but it is a bad store of value" and be perfectly valid, instead, you ride the train of "ltc is garbage! copy and paste! no selling points! no advantages!", it's like you are timid to acknowledge that other cryptocurrencies have their own advantages.

It’s a linear copy and paste that makes the blocks bigger and allows a little bit more throughout.

Litecoin and BCH are both forks of Bitcoin. Open-source software gets forked constantly. In fact, every time a Pull Request is issued, a fork must be made. To label each fork of a repository a "linear copy paste" is:

  1. A misuse of the word "linear".
  2. Manipulative word play to try and demonize what a fork is.

"Copy pasted" software steal from other applications and sell it as their own. That's a proper usage of that word, and I am telling you that as a software engineer who has dealt with copy pasties and makes pull requests on the daily for the past decade.

[–]Key_Friendship_67670 / 0 🦠 -4 points-3 points  (2 children)

You understand that the architecture of LTC and BCH are both the same as BTC lol? There are just some parameters changed on the architecture. There is nothing proprietary here or any type of gain that is worth it.

Imagine writing software, copying someone else’s code, and then just upping a few variables in their architecture and calling it better.

[–]Dramatic_Discount2870 / 0 🦠 3 points4 points  (1 child)

You demonstrated repeatedly that you don't actually know what the intricate differences are between these currencies, yet you know they're all stupid changes. You are ideologically opposed to them for a reason comparable to tribalism, like cryptocurrencies are a sport.

Much like many other "less fortunate" people in this world, they are over-competitive and consider everything a sport. Litecoin is a fork of Bitcoin, with dynamic block sizes that adjust to the network activity and a new hashing algorithm. Your oversimplified view of this is "copy paste bitcoin with little to no change its worthless".

You don't need to embrace Litecoin nor Bitcoin Cash. They are significantly worse stores-of-value whose only selling point is higher transactional efficiency. Yet, you are too stubborn to even recognize that. To you, this is a sport, thus the enemy team must be totally incompetent under all and any circumstances. Any slight acknowledgement otherwise would be treason against your own team.

[–]Key_Friendship_67670 / 0 🦠 -3 points-2 points  (0 children)

I have read all the technical differences between all 3 coins. They are not even that complex to understand. There are some small basic differences and that is all. I do know they increase efficiency slightly, but this is not how to scale software. If you think this is any sort of win, then you don’t understand software architecture and scaling at its core.

Imagine running into a problem in your program and you just multiply the size of something by 4 to fix it. Do you think this is a good long term solution to scaling? If you do then you clearly have never written a line of code.

[–]Substantial_Run80100 / 0 🦠 -3 points-2 points  (0 children)

Exactly. You saved me a reply

[–]Ilovekittens3450 / 0 🦠 3 points4 points  (1 child)

Yeah but LN needs 100 MB blocks to scale for the entire world. It was calculated and showed in the LN whitepaper. Let's not forget that. And so LN on BTC can't scale for the entire world, but LN on BCH can.

Also Satoshi himself was convinced that Bitcoin could scale better then Visa at a fraction of the cost, all on chain.

Remember the famous "If you don't believe me I don't have time to explain it to you", yeah that was said to somebody who told Satosh it could not scale onchain and needed a second layer of bitbanks.

Read it yourself. https://bitcointalk.org/index.php?topic=532.msg6269#msg6269

Bytemaster:

I am convinced that bandwidth, disk space, and computation time necessary to distribute and "finalize" a transaction will be prohibitively expensive for micro-payments. Consider for a second that the current banking industry is unable to provide a reasonable micropayment solution that does not involve depositing a reasonable sum and only allowing a withdraw after a reasonable sum has been accumulated.

Besides, 10 minutes is too long to verify that payment is good. It needs to be as fast as swiping a credit card is today.

Thus we need bit-banks that allow instant transfers among members and peer banks. Anyone can open a bit-bank but the system would, by necessity operate on some level of trust. Transfers in and out of the banks and peer-to-peer would still be possible but will be more costly. Thus, a bit bank could make money by enabling transfers cheaper and faster than the swarm with the added risk of trusting the bank. A bank has to maintain trust to make money.

Satoshi:

The current system where every user is a network node is not the intended configuration for large scale. That would be like every Usenet user runs their own NNTP server. The design supports letting users just be users. The more burden it is to run a node, the fewer nodes there will be. Those few nodes will be big server farms. The rest will be client nodes that only do transactions and don't generate.

Besides, 10 minutes is too long to verify that payment is good. It needs to be as fast as swiping a credit card is today.

See the snack machine thread, I outline how a payment processor could verify payments well enough, actually really well (much lower fraud rate than credit cards), in something like 10 seconds or less. If you don't believe me or don't get it, I don't have time to try to convince you, sorry.

This whitewashing of history is crazy. Your mind has been so brainwashed, you have done none of your own research. You are just parroting propaganda. Since Bitcoin was to strong to attack, they attacked .... your mind instead.

[–]Dramatic_Discount2870 / 0 🦠 1 point2 points  (0 children)

It's even worse, it requires 133 MB blocks for everyone in the world to make two on-chain transactions a year. That allows you to create your channel and reallocate it once, then you're done for the year.

Nevertheless, Lightning was never created to scale. That's why the whitepaper brings it up.

[–][deleted] 1 point2 points  (2 children)

Money is driven by network effects. BCH & LTC are bad money even if they are in theory better tech. Also if you analyse their price charts can see they are being manipulated by whales.

BCH doubled within a week last June for no apparent reason. But with low volume it is easy to manipulate price.

I have invested in both in the past and they have been a financial disaster compared to Bitcoin. So now when people in my family & friends ask me "which crypto to buy?" I only give one answer: Bitcoin - BTC. Extrapolate this out to all Bitcoin users and you can see why LTC/BCH have done nothing but decline vs BTC for years.

[–]RineZz0 / 0 🦠 4 points5 points  (0 children)

Manipulated by whales and low volume / price for Litecoin, and a lot of FUD spreading right now...

Can't be a better time to buy LTC right now, no?

Or just fomo in when it already pumped?

[–]voric410 / 0 🦠 5 points6 points  (0 children)

Eventually BTC will need to increase block size or BCH/LTC will gain traction.

Seeing as how many people fought it back in 2018. I assume BCH & LTC will be the next runners up

[–]Rawkus211271 / 71 🦐 0 points1 point  (0 children)

Yeah no.

[–]ZiltoidM5682 / 1K 🦐 0 points1 point  (0 children)

I was just thinking about LC and checked its performance. It’s even more zombie than it normally is. Not much life left in one of the OG coins.

[–]Hunter-Western283 / 283 🦞 0 points1 point  (0 children)

Litecoin is the Toyota of Alt Coins

[–]Witty_Food_85070 / 0 🦠 0 points1 point  (0 children)

i never knew this coin is still existed

[–]cris_Im0 / 0 🦠 -1 points0 points  (0 children)

I don't think this can happen because why would they tighten Litecoin they have many other great options

[–]Rey_Mezcalero0 / 13K 🦠 -1 points0 points  (0 children)

Eh…

[–]Arunav880 / 0 🦠 -1 points0 points  (0 children)

That's really good news for LTC hodlers.

[–]LeilaA2610 / 0 🦠 -1 points0 points  (0 children)

Is LTC making a comeback? lol

[–]DingDongWhoDis -3 points-2 points  (0 children)

What!? Wow!

Kidding, it's still an unimpressive dinosaur.

[–]Fluid-Willingness-980 / 0 🦠 -3 points-2 points  (1 child)

LTC is slow old tech, use Kaspa

[–]LowOwl43120 / 0 🦠 0 points1 point  (0 children)

Redpill me on Kaspa

[–]LeilaA2610 / 0 🦠 -2 points-1 points  (0 children)

Is LTC making a comeback? lol

[–]Quadraplegic16 / 16 🦐 -3 points-2 points  (0 children)

WOW OMG LTC TO THE MOON 🚀🚀🚀 /s

[–]AutoModerator[M] 0 points1 point  (0 children)

Ping for verified users associated with payments: /u/atlos-io

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

[–]SvaroopPatel0 / 0 🦠 0 points1 point  (0 children)

If this was the case then it would have been a great thing but Microsoft is not accepting Lite Coin directly, maybe through some third party.

[–]gr8ful40 / 4K 🦠 0 points1 point  (0 children)

Bitpay is KYC.

It's a shitty payment provider.

[–]Incredibly_Based0 / 2K 🦠 0 points1 point  (0 children)

so your telling me microsoft is taking LTC but not BTC or ETH? sounds cap

[–]andrescoq0 / 0 🦠 0 points1 point  (0 children)

This would be a good start

[–]Same_Cardiologist64783 / 83 🦐 0 points1 point  (0 children)

Is this still a thing?