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EDUCATIONALWhy you shouldn't be sleeping on LitecoinOC (self.CryptoCurrency)

submitted by LetsBeJolly

So it's quite obvious the majority of the market is sleeping on Litecoin, here's why you shouldn't. I've also noticed several people trashing Litecoin and asking why people hold it, so here's my answer.

Inflation & store of value - I think we can all agree this bull run is fueled by inflation in fiat currencies, at levels never seen before. Well Litecoin also has limitted supply just like BTC. I see LTC as silver 2.0 while Bitcoin is gold 2.0

PayPal - When PayPal enabled it's US customers to buy crypto, LTC shot right up. Why? Litecoin is the most appealing coin to most people. It's very similiar to Bitcoin and it has a relatively low price. Q1 of this year, PayPal will enable ALL it's 345M customers worldwide to buy crypto, this should benefit LTC the most out of all the crypto choices PayPal offers.

MimbleWimble Network Upgrade - MWEB will enable opt-in privacy features for Litecoin, and it's just around the corner. A lot of people expect privacy to be the next hype/trend in crypto. Together with privacy, MWEB also offers scaling solutions.

Cardano Velvet Fork - A Velvet Fork / Nipopow will enable smart contract compatability to Litecoin. On top of the store of value and cheaper transactions Litecoin offers, it will be getting a lot more token use cases.

​

Flare Network airdrop & smart contracts - Litecoin users will receive an airdrop of 5B Flare tokens. Together with this, LTC will be available on the Flare network as fLTC and be able to utilize Smart contracts and DeFi.

Grayscale - While the majority sleep on Litecoin, institutions know it's next in line once enough BTC has been bought by them.

Grayscale Accumulation

​

On top of Grayscale heavily accumulating, they had stopped buying all crypto's around Xmas time. Today they announced they will be taking investments again, well they have disabled investment for ETH & XRP. LTC is by far the most attractive alt for Grayscale investors and when the competition is offline, you know where the money is going to flow.

Grayscale disabling ETH & XRP investments while LTC still being available. This indicates where large sums of money could flow in the coming days/weeks.

​

There are several other factors such as LTC being made available on other networks and being cheap / fast, but these are the main and most important and recent developments people aren't keeping track of.

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[–]DivineEu59K / 71K 🦈 215 points216 points  (16 children)

I'm not a big fan of litecoin but i appreciate high quality post like this!

Good job!

[–]LetsBeJolly[S] 79 points80 points  (6 children)

I tried to talk about facts and provide proof instead of opinion mostly for this exact reason :)

Everybody can make their own conclusions, thanks for your comment.

[–]garlichead10 / 0 🦠 7 points8 points  (1 child)

"this should benefit LTC the most out of all crypto" seems like an opinion to me

[–]LetsBeJolly[S] 12 points13 points  (0 children)

Agreed, however it has been proven in the past to do so. The volumes of each coin on the platform backs up my claim.

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    [–]luckytaxiSilver|QC:LTC26,XLM28,CC151|VET18|r/PersonalFinance132 6 points7 points  (0 children)

    never understood this. it's making me money.

    [–]throwaway761575 3 points4 points  (6 children)

    So what are you a fan of instead? ETH? And what else?

    [–]DivineEu59K / 71K 🦈 4 points5 points  (3 children)

    to be honest my fav one is Iota

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      [–]OpblaasgeitBronze 55 points56 points  (2 children)

      This is a very interesting read. I've been trading and using litecoin for 3.5 years now locally (with friends) and internationally on some sites. It's the only coin I feel comfortable with using it as a payment solution. (I used bitcoin before, but it is much slower and the fees can be insane high)

      [–]ZVPalu4 - 5 years account age. 125 - 250 comment karma. 11 points12 points  (0 children)

      Used litecoin in 2020 as well to buy different things from cactus seeds to merch. It's fast and very low fees especially on native segwit.

      [–]LetsBeJolly[S] 24 points25 points  (0 children)

      The fundamentals are all there. The smart money is accumulating. Just a matter of time till the rest catch on imo.

      Agreed, I usually use LTC if I'm needing to make a purchase with crypto.

      [–]ShowmeyourWAPTin 12 points13 points  (1 child)

      2000% LTC premium buy from grayscale. My God.

      [–]LetsBeJolly[S] 5 points6 points  (0 children)

      Well it shows you how eager they are to buy :)

      [–]slickrick327 10 points11 points  (0 children)

      I think LTC is hugely undervalued as well, I have been steadily accumulating it (along with BTC and ETH) via DCA over the past 3 years. It is one of the most commonly offered tokens listed on fiat/crypto on-ramps for retail consumers, and is well adopted (relative to other tokens) for actual payments. You made a ton of other good points in your post as well. I have several friends who have recently become interested in crypto and begun to buy in. For people who are new to this space and accustomed to buying stocks, there is a psychological satisfaction that comes from owning a full unit, rather than a fractional unit. As BTC continues upwards, and ETH follows up, people new to the retail market will become less and less likely to be able to afford a full BTC or ETH with a discretionary amount of money. As they learn more and discover how similar LTC is to BTC, more and more people will buy it.

      [–]Sherlocked_Gold | QC: CC 16 | NANO 5 | r/Apple 38 69 points70 points  (37 children)

      I'm not hating, I used to really like LTC for a lot of these reason too. But for a minute I'd like to challenge some of your assumptions. Maybe I'm wrong, or at the very least it makes a fun debate.

      1.) What does silver 2.0 mean to you? People call BTC gold 2.0 because can be used as a store of value in the future due to its limited supply. That is the only connection. Therefore any max supply crypto can be any precious metal 2.0. So bitcoin is also silver 2.0 and LTC can also be argued to be gold 2.0 But you are not making that argument. You are just arbitrarily saying silver 2.0 because you view it as BTCs little brother the same way people see silver as golds little brother.

      2.) I've seen no indicator of increased inflation. Any reports are anecdotal, we aren't projected to hit 2% inflation again for a few years. Also, this isn't unique to LTC, BTC and any other deflationary crypto does the same thing. So again, why LTC?

      3.) Price for any crypto is a bad argument. Price is purely psychological, it has no utility impact. Yes, psychology plays a role in investing, but even then, no investor is going to buy Hertz over Tesla just because its "cheaper". And if the argument is to be used as a currency, then who cares? All that matters is how many bananas worth do you have? Am I buying an iPhone for 0.3 BTC or 8 LTC. Doesn't matter in any tangible utility.

      4.) MimbleWimble and Cardano Velvet Fork are valid arguments for features you prefer. I think others do these better, but this is subjective. No argument here.

      [–]weaver_on_the_web 8 points9 points  (3 children)

      I've seen no indicator of increased inflation. Any reports are anecdotal, we aren't projected to hit 2% inflation again for a few years.

      You're looking at the headline inflation figures, which measures mostly (selected) consumer items, many of which (e.g. digital goods or electronics) are actually deflationary. But in the wider economy, things that are actually in competitive demand are shooting up. Think property, shares in businesses with good prospects, rare artifacts, etc. This is where anyone with money is trying to find a store of value. Headline inflation is an illusion that prevents people from recognising their savings are being whittled away at 10-20% per year (which doesn't take long for most of it to vanish).

      [–]Sherlocked_Gold | QC: CC 16 | NANO 5 | r/Apple 38 0 points1 point  (2 children)

      Maybe that’s true in some industries, housing I think is a great example of that. But the blanket statement “inflation is high because I think so” isn’t good enough for me.

      [–]TheFireConvoy 1 point2 points  (1 child)

      CPI is widely considered to be a highly manipulated and very poor measure of inflation. Chapwood Index is a good alternative. Inflation is easily over 15% right now.

      [–]LetsBeJolly[S] 27 points28 points  (10 children)

      1.) I say this for several reasons, first being 21M BTC vs 84M LTC. LTC is not as scarce (I know this argument can be made for a lot of coins however LTC has been around the longest and isn't just another alt) LTC pretty much does the same thing as BTC with some slight differences such as block size. Several network upgrades have been tested/implemented on LTC first before being passed onto the bigger brother. They share the same DNA pretty much.

      2.) 35% of all USD was printed in the last 10 months. Maybe this inflation hasn't hit the real economy yet, but it's just a matter of time and that's why smart money is moving heavily into Bitcoin. Anyhow, even if your 2% projection is true for the US, it definitely isn't for the whole world. Nearly all fiat currencies have been printed like crazy in the past year.

      3.) Do you think normies that come into the space are more likely to buy a fraction of a coin at $35,000 or a full coin at $150-500 when it shares most of the same properties? A lot of investing is psycological, it doesn't need to make sense to you on paper to make sense to somebody else psychologically. Even in trading, we talk about psycological support/resistance levels of round numbers even if they don't mean much TA wise. For example $20K BTC / $40K BTC.

      4.) I think most of our discussion is subjective (1 & 3), hence we won't be able to come to an agreement on the majority of it but can try understand each of our points.

      [–]PaulMorphyForPrezPlatinum | QC: CC 64, ETH 15 | Investing 20 17 points18 points  (0 children)

      Do you think normies that come into the space are more likely to buy a fraction of a coin at $35,000 or a full coin at $150-500 when it shares most of the same properties?

      So this gets into the real value of Litecoin, convincing uninformed investors that it will go up. Otherwise, its either a worse Bitcoin or a worse payment processor.

      [–]sbnas 4 points5 points  (1 child)

      Do you think normies that come into the space are more likely to buy a fraction of a coin at $35,000 or a full coin at $150-500 when it shares most of the same properties? A lot of investing is psycological, it doesn't need to make sense to you on paper to make sense to somebody else psychologically.

      Normies are going to want BTC because BTC is what is in the 'normie' news.

      These normie investors arent reading crypto blogs, they are seeing that BTC has gone up massively in the last months according to their daily paper/news source. They decide they want in and they want BTC.

      [–]Sherlocked_Gold | QC: CC 16 | NANO 5 | r/Apple 38 6 points7 points  (6 children)

      1) again, this is a price question. There could be 10 Bitcoin ever. It doesn’t change the utility, it just moves a decimal per coin. If any of these coins are used on a large scale they will no longer be referred to as a Bitcoin, instead we will measure is shitoshis. This is a very short term argument.

      2) again, anecdotal. The FED as predicted inflation for the next 5 years using all of the data available to them. Yes they can be wrong, I’m just saying I need something more convincing.

      3) true. I could be wrong on this one. But again, only from an investment perspective. This could have some psychological impact in the short term. But if we are talking about using it as a currency, it’s not a factor.

      4) I think 1 is an objective truth. But you're right 3 is subjective. It depends what you think the utility of the coin is. Currency or investment.

      [–]Fantom1992Platinum | QC: LTC 259, CC 70, BTC 29 | TraderSubs 238 10 points11 points  (3 children)

      Just a note on number 2, the FED aren’t going to publicly announce high inflation of the USD because that’ll devalue the currency even more by people deciding to sell it. Without sounding rude, do you understand how inflation works? The amount of money that’s in circulation has increased by 35% yet the supply of goods is relatively the same or arguably less due to covid. When the shops open and everything goes back to normal people are most definitely spending that money and this will most definitely caused prices to rise (holidays, clothing, nights out etc) price rise = inflation.

      [–]djazair_ 2 points3 points  (0 children)

      Y’all are mixing between consumer price inflation and inflation at large. The printed money was largely used by the Fed to circulate liquidity in the corporate/financial sector. A few stimulus checks to the masses are not going to actually inflate CPI, especially given the COVID-driven losses in personal income. Asset price inflation, however, is exactly where the printed money is going, and is skyrocketing. So the question is where are market makers and institutional actors going to put their money, since we’re discussing crypto which can function as a store of value. Consumer inflation will not rise significantly and cannot unless wages increase or fiscal decision makers (aka not the Fed) decide to distribute significant amounts of money to consumers, and the stimulus checks have not really moved the needle. Unless you believe in trickle down economics, which time and time again have proven to not work, this money will not “eventually” circulate to the population at large. The Fed has struggled to hit inflation targets over the long-term because they lack the capability to impact consumer discretionary income directly, and their indirect attempts fail because trickle down economics are a farce.

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          [–]LetsBeJolly[S] 6 points7 points  (2 children)

          To add to 3.) you can look at PayPal's volume for example. For months LTC had 2/3 of ETH's volume while only being 1/10 of Mcap. It shows clearly how people view their investments in crypto.

          Recently this has changed due to the hype around ETH and it's ATH, but I'm sure it will go back to the levels I mentioned.

          [–]Sherlocked_Gold | QC: CC 16 | NANO 5 | r/Apple 38 2 points3 points  (1 child)

          Sure. I can accept that as evidence. Same answer though, in the long term is litecoin an investment or a currency. In the short term they are all speculative investments, but in the long run the most utility will be where people go. Maybe litecoin become that, I’m just pointing out your arguments that are not in support of that. They are still valid arguments, they just aren’t proving your argument.

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            [–]Artest113Bronze | ADA 10 49 points50 points  (11 children)

            Psychologically it’s satisfying to own 1 coin, and not 0.0043 or something, Bitcoin is now out of reach for most middle income family, including myself.

            So whats the next coin that are similar to Bitcoin but “affordable”? Yup, that’s Litecoin.

            [–]PaulMorphyForPrezPlatinum | QC: CC 64, ETH 15 | Investing 20 20 points21 points  (1 child)

            You are basically arguing Litecoin will be valuable because retail investors are dumb and will get scared off by decimals.

            But really, those people won't buy crypto at all. At most, they will buy a crypto ETF.

            [–]taigarawrrBronze 5 points6 points  (0 children)

            Some will definitely buy. Don't underestimate retailer investors' wants and needs. But how much they'll buy is definitely up in the air.

            [–]Cataclysmguy8 - 9 years account age. 450 - 900 comment karma. 2 points3 points  (1 child)

            Take a peak into Monero (XMR), it might be something you like. I'm a holder and the design and price is a very nice hold.

            [–]hand_splicedPlatinum | QC: CC 74 | r/Politics 14 2 points3 points  (0 children)

            *peek

            [–]LetsBeJolly[S] 6 points7 points  (0 children)

            Exactly. Litecoin volume compared to its market cap also backs this up, especially on normie exchanges/on ramps such as PayPal.

            For the past few months, LTC had 2/3 of ETH's volume while being only 1/10 mcap.

            [–]thejsgarrett 1 point2 points  (0 children)

            I think the psychology pans out. I'm curious to expand on this... given that more new crypto holders are entering the market, is there a way to actually see these new entrants and whether or not they are actually considering LTC over say ETH or BTC despite what the headlines are telling them?

            [–]GuitarminePlatinum | QC: CC 166 | Superstonk 34 1 point2 points  (0 children)

            If that drives the price by even a fraction the whole market is fucked.

            [–]paulosdubSilver | QC: CC 127, BTC 52, CM 36 | ADA 35 | TraderSubs 36 1 point2 points  (0 children)

            I think this is very true. I’d be astounded if in the future, bitcoin doesn’t start talking in sats for this very reason. I know some wallets do this already.

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              [–]qwelppPlatinum | QC: CC 337, ETH 46 | PersonalFinance 21 90 points91 points  (129 children)

              I think LTC will perform well, but the opportunity cost of not holding other alts instead is too great.

              [–]MainAdvisor 9 points10 points  (115 children)

              alts such as...?

              [–]qwelppPlatinum | QC: CC 337, ETH 46 | PersonalFinance 21 88 points89 points  (103 children)

              ADA, DOT, LINK, XLM, XMR, MKR, UNI, SNX, THETA, AAVE, NEO, VET, ATOM, IOTA, FIL, SOL, SUSHI, YFI, STX..take your pick.

              [–]Detri_MantelaGold | QC: CC 46 6 points7 points  (0 children)

              thanks for basically shilling my entire portfolio 💪

              [–]AWDcrypto1 - 2 years account age. 100 - 200 comment karma. 25 points26 points  (0 children)

              My man ☝🏽 let’s get it brother

              [–]DrPechanko 7 points8 points  (0 children)

              ada, link, xlm!

              [–]Tempox 22 points23 points  (35 children)

              ADA is number one for max gains in 2021.

              [–]BeWhoMyDogThinksIAmTin 5 points6 points  (5 children)

              Why is ada the go to thing? I'm new here... it's all overwhelming.

              [–]envek 14 points15 points  (0 children)

              You will see everyone throwing their own opinion here like it was the ultimate truth. But always keep in mind everything here is an opinion, and you will see a lot of bullshit arguments for either side of every opinion.
              Study and form your own opinion is the best recommendation for everyone :)

              [–][deleted] -2 points-1 points  (1 child)

              ADA intends on being the ultimate platform that incorporates all coding languages.

              [–]Code_ReedusLUNA BULL -1 points0 points  (0 children)

              Jack of all trades, useful for nothing

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                [–]strawberryswissrollGold | QC: CC 79 | IOTA 22 | TraderSubs 10 19 points20 points  (3 children)

                I am willing to bet 100k USD that IOTA will outperform ADA in 2021. We can set it up via smart contract or prediction market

                [–]Majouli 30 points31 points  (0 children)

                Wait I heard all this in 2017...

                [–]Freeloader_0 / 4K 🦠 9 points10 points  (0 children)

                just reading "IOTA" gives me PTSD

                I bought in 2017 when it costed 3,4$, fortunately didnt invest much

                [–]GreyTooFast11K / 12K 🐬 5 points6 points  (0 children)

                :bogdanovdump:

                [–]Trippendicular-Silver | QC: CC 265 | r/CMS 58 2 points3 points  (0 children)

                Fucking lol.

                [–][deleted] 7 points8 points  (1 child)

                Not just max gains, but the platform, team and community is just so amazing

                [–]handbanana843 / 55 🦠 0 points1 point  (0 children)

                What are initial and current coin distribution like?

                [–]oroalejTin 5 points6 points  (10 children)

                ADA is the future my dudes. not only 2021.

                [–]PeterthepiperomgTin 2 points3 points  (4 children)

                How can i purchase ada

                [–]tyhcmuTin 1 point2 points  (1 child)

                You are convincing me to buy some, It is already doing great

                [–]Trippendicular-Silver | QC: CC 265 | r/CMS 58 3 points4 points  (0 children)

                No, it isn’t.

                [–]LactatingJelloPlatinum | QC: CC 184 | DOGE critic | VET 7 0 points1 point  (0 children)

                Doesn't it not have any activity?

                https://twitter.com/evan_van_ness/status/1345111434510921735?s=19

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                  [–]Puppy_Coated_In_BeerSilver | QC: CC 266 | ADA 29 0 points1 point  (10 children)

                  SUSHI

                  Didn't the creator literally sell a shit ton of SUSHI tokens and even admit that he was being greedy?

                  I am not confident in SUSHI at all.

                  Haven't been following the token, will do some more research on it. I guess I'm just pissed I lost like $2000 after that rug pull.

                  [–]plug_and_prayBronze 1 point2 points  (0 children)

                  It's an ancient history, now it's evolving and it's doing well.

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                    [–]hab1b 0 points1 point  (5 children)

                    i bought 500 XLM when they were 18 cents... So just a matter of time til im set for life right????

                    [–]qwelppPlatinum | QC: CC 337, ETH 46 | PersonalFinance 21 0 points1 point  (4 children)

                    Depending on your cost of living, at least a nice vacation out of it or a bill paid off.

                    [–]utdarsenalPlatinum | QC: LTC 167, BTC 24 | TraderSubs 169 -2 points-1 points  (9 children)

                    If you’re short term trading, I’d agree. If you’re long term investing, I’d have to argue Litecoin probably outperforms them all.

                    No coin has been around as long as Bitcoin, second to that, Litecoin.

                    [–]qwelppPlatinum | QC: CC 337, ETH 46 | PersonalFinance 21 1 point2 points  (6 children)

                    Exactly the opposite. !RemindMe 1 year

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                        [–]ikefalconPlatinum | QC: BAT 33, CC 28 | Politics 22 8 points9 points  (9 children)

                        BAT is my biggest alt holding and arguably the alt project with the biggest practical success. I think it’s primed to pop off in the next alt season now that all BAT are in circulation.

                        [–]Saintsfan_9Bronze | QC: CC 18 | r/WSB 82 8 points9 points  (8 children)

                        What is special about BAT?

                        [–]datazuluTin 23 points24 points  (1 child)

                        Well for one thing, they are excellent at helping control the insect population.

                        [–]Saintsfan_9Bronze | QC: CC 18 | r/WSB 82 9 points10 points  (0 children)

                        Haha and spreading corona viruses

                        [–]BimmerTime337 7 points8 points  (2 children)

                        One could argue it actually has a use case and supports an advertising network as well as content creators.

                        I will say I have used it to tip multiple websites that are free with content I really enjoy. News agencys, wikipedia, some hosting sites, you tube creators are all some I've tipped...used it for more purpose than any other crypto.

                        [–]Saintsfan_9Bronze | QC: CC 18 | r/WSB 82 1 point2 points  (1 child)

                        Ok this is really cool. Why is BAT easier to do this for than say litecoin? Is it just lower transactions fees or something?

                        [–]BimmerTime337 5 points6 points  (0 children)

                        Bat is essentially a token of the Brave Browser; which is basically Chrome with a bunch of adblockers and privacy features baked in. It runs faster and works well (occasionally have to switch of blockers for website to work but rare). The token is part of the ad network they offer. They have their own program where advertisers buy in....if you choose the option to see their ads you will get a small basic notification pop ups once in awhile. Each one you see (no need to click) earns you a portion of BAT. Now honestly its BAT is kind of between a rock and hard place with the Ethereum fees. At the current pay rates it will take awhile to substantially earn anything. Then on top of that you won't be able to withdrawal it because of the huge Ethereum fees (can still tip websites). But I'm still using it, I feel these are just temporary inconveniences, the team will come up with a solution eventually or fees will die down. I've been using it for 2 years across several devices, I've made out pretty well but I'm an early adopter and the payrates were higher at the time. Hop over to the sub reddit r/BATProject to learn more if your interested.

                        [–]ikefalconPlatinum | QC: BAT 33, CC 28 | Politics 22 5 points6 points  (1 child)

                        BAT is a token centered around the idea of making advertising more effective for advertisers, less intrusive for users, and more lucrative for content creators. It’s centered around the Brave browser, which blocks ads by default and lets users opt in. Users who opt in receive fewer, targeted ads that they are more likely to be interested in. It pays users for viewing ads using BAT, and users have the option to tip content creators with the BAT they earn or withdraw it.

                        Because Brave and the BAT advertising model are already in use with millions of daily users, you could argue that BAT has more adoption and practical use than any other altcoin right now. So while a lot of crypto projects are built around ideas that could revolutionize how certain things are done, the Brave/BAT project is actually very far along in making it happen.

                        A lot of really impressive names are on the project, most notably the CEO, Brendan Eich, inventor of JavaScript and formerly of Mozilla.

                        [–]budarov0Tin 1 point2 points  (0 children)

                        They spread corona disease

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                          [–]LetsBeJolly[S] 9 points10 points  (9 children)

                          Historically, LTC has also led other alts into alt season. I personally plan to move a portion of my LTC into other alts once LTC has moved while others haven't.

                          [–]qwelppPlatinum | QC: CC 337, ETH 46 | PersonalFinance 21 22 points23 points  (3 children)

                          I think ETH will lead this time.

                          [–]LetsBeJolly[S] 5 points6 points  (2 children)

                          Possible. I think we will get clues in the next few days from the reaction of people to the airdrop and Grayscale's buys.

                          [–]ZVPalu4 - 5 years account age. 125 - 250 comment karma. 1 point2 points  (0 children)

                          Hear hear!

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                            [–]Kekkins0 / 6K 🦠 5 points6 points  (2 children)

                            you forgot that Litecoin has also Dogecoin (DOGE) and Viacoin (VIA) merge-mined causing them to have a monstrous hashrate and a good bonus for litecoin miners...

                            [–]LetsBeJolly[S] 4 points5 points  (1 child)

                            I didn't know of this, thanks!

                            [–]Kekkins0 / 6K 🦠 2 points3 points  (0 children)

                            like unfortunately the remaining 99% of the people here...too bad...cheers

                            [–]KTown_Killa2K / 2K 🐢 7 points8 points  (0 children)

                            Great post! LTC is awesome and anyone hating on it just doesnt know crypto very well. One of my top $ makers over the years! I def love the 'paypal' effect of LTC looking the a cheapest appealing coin.

                            [–]Kevkillerke 13 points14 points  (6 children)

                            I have some LTC in a hardware wallet, would I need to send my LTC to another address temporarily for the airdrop? When is it?

                            [–]LetsBeJolly[S] 8 points9 points  (5 children)

                            Most likely yes, however they will announce the details by the end of the week. So watch out for that on Flare Network or Litecoin Foundations twitter.

                            [–]Kevkillerke 3 points4 points  (0 children)

                            I realized too late that the title was a link, clicked it and read that haha. Thanks though!

                            [–][deleted] 3 points4 points  (1 child)

                            I'm probably gonna need an ELI5 for this...

                            [–]andrxitoTin 2 points3 points  (0 children)

                            Same, what's this about airdrops?

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                              [–]utdarsenalPlatinum | QC: LTC 167, BTC 24 | TraderSubs 169 8 points9 points  (1 child)

                              Great post. I’m convinced Litecoin will continue being a contender for decades to come.

                              P.S. where did you get the information regarding Grayscale putting Eth offline? Would you have a link by any chance? Thanks

                              [–]LetsBeJolly[S] 1 point2 points  (0 children)

                              https://grayscale.co/startinvesting/ You can check through this link.

                              [–]Trollercoaster101Platinum | QC: CC 188 | r/PrivacyTools 13 17 points18 points  (6 children)

                              I honestly think LTC being described as a BTC clone is what’s damaging the coin’s image the most. It is easy to see it as just another BTC-wannabe which never pumped, but it’s undeniable that being based upon the same concept make it a valuable candidate for “digital silver”, as long as people realize that a higher mineable coin cap means it will take more time, and a broader user-base, for LTC to change its value on a higher ground.

                              I pretty much agree when you say that those who were late to the BTC party could probably look at LTC in the future, but whether that happens depends on what other projects will achieve.

                              It’s another wonderful piece of software being deployed for people to use/buy and i can’t see why it shouldn’t live alongside BTC.

                              [–]LetsBeJolly[S] 11 points12 points  (3 children)

                              Double edged sword I guess. I see LTC as BTC's little brother a bit as well.

                              I don't see other alts the same as LTC, it's the oldest alt and has had 100% uptime in a fully decentralised manner. Can't say that for more than 90% of alts imo.

                              Thanks for your input :)

                              [–]Monster_Chief17 2 points3 points  (2 children)

                              100% uptime in a fully decentralised manner. Can't say that for more than 90% of alts imo.

                              Really? I could name at least 5 if you woke me up from a drunken slumber.

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

                              to be fair, that 10% he gives credit to would be 10% of 6158 coins listed on gecko, so about 615

                              [–]methodofcontrolSilver | QC: CC 114 | r/SSB 19 | Technology 34 1 point2 points  (0 children)

                              Yeah, I'm kinda confused by his comment.

                              [–]hashabc1123Silver 7 points8 points  (1 child)

                              I see LTC as slightly better than Bitcoin.

                              [–]LetsBeJolly[S] 5 points6 points  (0 children)

                              Well we can't argue Bitcoin was first and has the huge brand advantage.

                              LTC may be better for certain things, but overall BTC is always king in my eyes.

                              Doesn't mean LTC won't bring higher returns though.

                              [–]zorg621Gold | QC: BTC 26 6 points7 points  (0 children)

                              Good read

                              [–]PulseQ8Silver | QC: CC 97 | ADA 185 | MiningSubs 14 4 points5 points  (0 children)

                              The question is, how does appeal and "branding" compare to utility in terms of long term success? I think some coins out there have really good solutions, but are outperformed by other coins simply due to appeal, like the sound of the name and icon. I believe dogecoin and litecoin are two examples. Sometimes people spend money on useless stuff just because it looks trendy, or makes you look cool, this adds complexity when trying to predict what coins will stand out in the competition and remain successful.

                              [–]Ne0nbeams7 / 2K 🦐 9 points10 points  (1 child)

                              Solid post! Your post as well as a lot of your replies echo my own sentiment on LTC.

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

                              Thank you :)

                              [–]betstefTin 4 points5 points  (0 children)

                              Litecoin is among the top ten cryptocurrencies by market cap and sure will bring money to their investors

                              [–]JazzyJayKarrPlatinum | QC: CC 60 11 points12 points  (2 children)

                              Interesting read. I’d think ETH is number two? Litecoin number 3

                              [–]RebornKingTin 12 points13 points  (3 children)

                              Litecoin macro chart against bitcoin is a macro down trend. ETH has a macro bull pennant and inverse head and shoulders that have been forming over the past four years against bitcoin.

                              [–]ZVPalu4 - 5 years account age. 125 - 250 comment karma. 5 points6 points  (0 children)

                              Also remember that Litcoin halved 1.5 years ago so technically it should be up and away soon.

                              [–]LetsBeJolly[S] 4 points5 points  (0 children)

                              We are at the bottom of that downtrend, with at least a +300% to go historically.

                              [–]savage12362Bronze 1 point2 points  (0 children)

                              This

                              [–]Angel_Valoel2K / 2K 🐢 34 points35 points  (21 children)

                              I see LTC as silver 2.0 while Bitcoin is gold 2.0

                              You just described how I see LTC and why I'm someone who supports it.

                              [–]ykliuPlatinum | QC: CC 392, BTC 30 | ADA 8 | Investing 17 12 points13 points  (7 children)

                              I’m also interested in Litecoin, but haven’t wrapped my head around why it would be Silver 2.0.

                              Why Litecoin, and not the other bitcoin forks (BCH, BSV), or something like Tezos, or monero? Does it come back to Litecoin having a longer history?

                              [–]LetsBeJolly[S] 15 points16 points  (6 children)

                              21M to 84M max supply.

                              ​

                              BCH and BSV try displace BTC, they try to claim they are the real Bitcoin. They are also hard forks of BTC.

                              Litecoin is a fork of Bitcoin's code, not the actual network itself. It has always aimed to be alongside BTC rather than instead of it.

                              Tezos & Monero are completely different things imo. I believe Monero will also always have a place in the top 20, it's the original privacy coin and has proven itself to do what it says, stay decentralised and trustable.

                              ​

                              For me, Bitcoin will always be king, I don't like or invest in any of the BTC forks.

                              [–]oarabbus 4 points5 points  (3 children)

                              21M to 84M max supply.

                              Not really relevant when we have so far to go splitting towards a satoshi. If a satoshi was like $1000 you'd have a point

                              [–]LetsBeJolly[S] 19 points20 points  (1 child)

                              Then I would have to argue, BTC & LTC have the fairest distribution of coins. There was no pre-mine and no secret developer stash.

                              A lot of alts these days, the devs have the majority of coins or there are insane token release schedules causing massive inflation.

                              You know what you are getting with Litecoin's supply and it will always decrease.

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                                [–][deleted] 1 point2 points  (1 child)

                                Don’t forget that the forks are made by grifters, scam artists, and greedy liars.

                                [–]LetsBeJolly[S] 1 point2 points  (0 children)

                                Yup, LTC aims to be alongside BTC, not instead of it.

                                [–]LetsBeJolly[S] 12 points13 points  (5 children)

                                When there is so much inflation in the world, it's bound to perform extremely well.

                                [–]AlwayswatchoutTin | ADA 18 5 points6 points  (4 children)

                                Whilst my biggest bags are BTC and ADA, i have been adding litecoin recently as well and do believe it is like digital silver.

                                It's just that's annoying for me im buying it at £100 instead of £40 per coin. Happens all the time to me :)

                                Good post regardless

                                [–]LetsBeJolly[S] 8 points9 points  (2 children)

                                I'm sure a lot of people will feel the same when LTC is at £500 and above :).

                                Really looking forward to LTC & ADA velvet fork. Thank you :)

                                [–]AlwayswatchoutTin | ADA 18 2 points3 points  (1 child)

                                Very true indeed.

                                Can you imagine 1 litecoin being worth 1 ounce of gold in pounds (roughly £1400) atm? 😱😨

                                [–]LetsBeJolly[S] 6 points7 points  (0 children)

                                If history is to repeat/rhyme, I see LTC at 1000-2400 USD.

                                https://prnt.sc/wm6pu5

                                LTC has reached 3.2% market dominance every cycle. If we were to consider Crypto market cap being 2.5-5 Trillion USD this cycle, it's very possible.

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                                  [–]benjuliosTin 2 points3 points  (3 children)

                                  What is copper 2.0 ? You know I'm broke 🤣

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                                    [–]Aregin152 11 points12 points  (2 children)

                                    I think LTC is gonna have a way better bull run then ETH or BTC tbh.

                                    [–]LetsBeJolly[S] 4 points5 points  (1 child)

                                    Agreed, I think the signs will be seen in the next few days. Grayscale's buys and the reaction the market gives to the airdrop will be key.

                                    [–]phoebecatesboobsPlatinum | QC: CC 23 | Investing 10 3 points4 points  (0 children)

                                    I personally like LTC and see it gaining institutional adoption in the future. It has low tx fees and is fairly quick. For now it has more utility in transacting, but as it increases in price it will act more as a store of value. It has more risk though in terms of investment return and opportunity cost.

                                    Do you have any thoughts on the miner side of the LTC economy, health, security, robustness, etc?

                                    [–]Halperwire183 / 184 🦀 3 points4 points  (0 children)

                                    Here we go again......

                                    [–]SlayBoredomPlatinum | QC: CC 32 | Accounting 103 1 point2 points  (2 children)

                                    Why you shouldn't be sleeping on Litecoin

                                    My number 1 reason: I bought (sadly only:) 12 coins in 2017 for a total of 250 USD

                                    Now I would like the price to go to 400 USD per Coin so I can sell at least 10 of those 12 coins and buy a new car. THANKS!!!

                                    [–]LetsBeJolly[S] 4 points5 points  (1 child)

                                    1000-2400 USD isn't too hard for this cycle imo. Only needs history to rhyme :)

                                    [–]PeterHeirSilver | QC: CC 202, CM 64, BTC 23 | r/SSB 95 | TraderSubs 64 5 points6 points  (0 children)

                                    Actual Fees compared http://cryptofees.net/

                                    One look at the data and you understand the benefit of LTC for payments

                                    [–]TidsdilatationGold | QC: CC 23 6 points7 points  (4 children)

                                    Wait what, what is that with cardano? Are you telling me that ltc will be compatible with smart contracts? That is a game changer if I understand correctly

                                    [–]LetsBeJolly[S] 5 points6 points  (3 children)

                                    Yes, it is a massive game changer. It's being worked on right now :)

                                    [–]TidsdilatationGold | QC: CC 23 1 point2 points  (2 children)

                                    Do you have any more information? A link to where they discuss it or something similar? This caught my attention

                                    [–]LetsBeJolly[S] 2 points3 points  (1 child)

                                    Charles Hoskinson recently streamed about this a little. However this has been getting worked on since H2 2020.
                                    https://www.youtube.com/watch?v=RizE6zi5mCc

                                    https://www.crypto-news-flash.com/cardano-and-litecoin-discuss-upgrade-to-implement-interoperability/

                                    [–]TidsdilatationGold | QC: CC 23 2 points3 points  (0 children)

                                    Thank you for telling me what you know bro.

                                    [–]ThemanimnotTin 6 points7 points  (3 children)

                                    yeah buddy! i am long on LTC for many of the same reasons. psycholgically LTC will be the coin a lot of 'normies' will purcase as they walk into it thinking ' i cant afford ONE BTC!! that's to expensive. Oh LTC! i'll buy that instead!' many people have called me stupid for liking Bitcoin. 'its $30,000 per! how could you afford that..' I just let it go.

                                    [–]LetsBeJolly[S] 5 points6 points  (1 child)

                                    Agreed. To back up this view, LTC had 2/3 of ETH's volume daily on PayPal for months while only being 1/10 of market cap.

                                    This is a clear indicator of where normies go. Recently it has been changed a lot due to hype around ETH and it's ATH, however we will go back to the usual trend very soon imo.

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                                      [–]Sastroprawiro0 / 895 🦠 2 points3 points  (1 child)

                                      Do you have to get your LTC on a specific exchange or wallet to get the airdrop?

                                      [–]LetsBeJolly[S] 5 points6 points  (0 children)

                                      For the XRP/Flare airdrop, all major exchanges supported it together with some wallets. I imagine the same will occur for LTC/Flare airdrop. They should announce details shortly.

                                      [–]Foolish_nessTin | UKPers.Fin. 10 2 points3 points  (2 children)

                                      How is this bull run caused by inflation? Inflation is low. Do you perhaps mean low interest rates?

                                      [–]LetsBeJolly[S] 6 points7 points  (1 child)

                                      I mean all the fiat currency that is being printed like there's no tomorrow. Not only in the USA either. Wait till it hits the real economy. Right now the smart money is moving first, once it hits the real economy everybody will make the move.

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

                                      https://twitter.com/DavidBurkett38/status/1345226659092377600

                                      ​

                                      Added evidence for MWEB being close to ready. My guess and from what I've read is it could be launched towards end of Q1.

                                      [–]SlimBoomBoom6 / 847 🦐 2 points3 points  (1 child)

                                      I’m all in on Litecoin AND NANO

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

                                      Nice! Let's goo

                                      [–][deleted] 7 points8 points  (0 children)

                                      Lol

                                      [–]nickviciousPlatinum | QC: CC 119, ETH 20 | r/CMS 10 | TraderSubs 15 4 points5 points  (1 child)

                                      LTC being "Silver 2.0" or Bitcoin's little brother is one of the main reasons why it has stuck in the top 10 for this long and will probably continue to do so. Although I've personally never owned any I do agree with most of the points made in this post. It's nice to see that LTC does have meaningful advancements in development in comparison to BTC.

                                      [–]LetsBeJolly[S] 6 points7 points  (0 children)

                                      I see the foundation putting in much more work than they used to in the past, makes me more bullish this time around.

                                      It's the first time in over 5 years that I've touched LTC and I'm very confident about it.

                                      [–]madalink13 12 points13 points  (8 children)

                                      Also it have very low fees on transaction

                                      [–]LetsBeJolly[S] 13 points14 points  (5 children)

                                      Yes, I tried not to mention the things most people know and to focus on the more recent/upcoming developments.

                                      A lot of people use LTC to transfer money around because of the low fees and high speed too.

                                      [–]Saintsfan_9Bronze | QC: CC 18 | r/WSB 82 1 point2 points  (1 child)

                                      So say I want to buy something using litecoin (like with the new crypto cards), it will be cheaper than if I used bitcoin to buy the same item?

                                      [–]LetsBeJolly[S] 6 points7 points  (0 children)

                                      Yes, cheaper and faster.

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                                        [–]tallboybrewsPlatinum | QC: CC 136, BTC 131, ETH 81 | MiningSubs 166 2 points3 points  (0 children)

                                        Isn't transaction fee usually correlated to traffic? If so, that just means it is used less. So if the hope is for it to be used more, the fees would go up, no?

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                                          [–]Fantom1992Platinum | QC: LTC 259, CC 70, BTC 29 | TraderSubs 238 6 points7 points  (4 children)

                                          Great quality post. Took some balls posting Litecoin in this sub as it’s an echo chamber for nano shills. Great coin, and for these reason alone you should hold it long term.

                                          [–]MIS-conceptPlatinum | QC: CC 461 2 points3 points  (3 children)

                                          What do you see as unjustified in NANO's reputation?

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

                                          I like nano but it's not on exchanges most people are going to use. People balls deep in crypto, sure, but my grandpa isn't gonna buy nano.

                                          [–][deleted] 16 points17 points  (31 children)

                                          Litecoin is a useless redundancy. Do not invest in it long term.

                                          [–]stealthgerbilPlatinum | QC: CC 28 | SysAdmin 32 7 points8 points  (28 children)

                                          I agree. It does nothing unique and its whole claim is 'its bitcoin silver'. Like whats the point.

                                          [–]AFocusedCynic 11 points12 points  (6 children)

                                          Honest question. Is the transaction fees and speed not a differentiator between the two?

                                          [–]methodofcontrolSilver | QC: CC 114 | r/SSB 19 | Technology 34 1 point2 points  (3 children)

                                          It does differentiate them, but if you want speed or lower fees there are cheaper, faster options. And those options are only getting better.

                                          [–]AndMetal 3 points4 points  (2 children)

                                          Out of curiosity, do those other options have trading pairs straight to fiat on the major exchanges? I use LTC for payouts from some auto-exchange mining pools for certain algorithms due to lower transaction fees and minimum payouts, but I certainly wouldn't be opposed to other options.

                                          [–][deleted] 2 points3 points  (0 children)

                                          Exactly. Take Nano for example. No trading pairs, can't do a damn thing with it without jumping through hoops. LTC on the otherhand is listed on nearly every exchange. Value is tied to the overall general perception.

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                                              [–]Fantom1992Platinum | QC: LTC 259, CC 70, BTC 29 | TraderSubs 238 -1 points0 points  (20 children)

                                              ‘It does nothing unique’ Did you read the post? It’s going to be the only currency with optional privacy and smart contract functionality...

                                              [–]methodofcontrolSilver | QC: CC 114 | r/SSB 19 | Technology 34 6 points7 points  (2 children)

                                              Plenty of coins will have optional privacy, and ones that already have constant privacy.

                                              It's not the best at anything, and it doesnt have bitcoins name recognition. I just don't see anyway it's a good long term crypto to hold.

                                              [–]stealthgerbilPlatinum | QC: CC 28 | SysAdmin 32 -2 points-1 points  (6 children)

                                              I am against optional privacy in crypto. Either have it fully private or dont bother.

                                              [–]Fantom1992Platinum | QC: LTC 259, CC 70, BTC 29 | TraderSubs 238 2 points3 points  (1 child)

                                              That’s such a ridiculous comment. Making it optional is the best of both worlds.. if you want to make a transaction and want it to be private you can.. a successful currency needs privacy..

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                                                    [–]Speedfranz 5 points6 points  (1 child)

                                                    Yeah and Grayscale has also 100m in BCH and we all know BCH is trash

                                                    [–]dhorkPlatinum|QC:CC492,BCH65,LedgerWal.32|ADA12|Politics537 1 point2 points  (0 children)

                                                    So I shouldn't keep my Ledger under my pillow?

                                                    [–]AvocadosAreMehHashMyAnus 1 point2 points  (1 child)

                                                    I was a long time hodler of LTC even through 17 peak, but this last run up I finally got out. The lack of concrete development, a backwards slide in terms of their website and foundation, and fetish with being silver to bitcoin’s gold all got old. I initially got in because it was extremely cheap to use and still have a decentralized PoW while being easy to mine myself. None of those things have gotten improved much, while other projects are filling those holes much, much, better.

                                                    My opinion is strictly that, I don’t mean what I say to be facts, but just providing an anecdote of someone who used it as currency and an investment for years but recently cashed out.

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

                                                    Understandable. However it seems recently they're trying to do much more on the development and marketing side. Also institutions like Grayscale make me feel that it's a good investment right now.

                                                    [–]PeterHeirSilver | QC: CC 202, CM 64, BTC 23 | r/SSB 95 | TraderSubs 64 1 point2 points  (0 children)

                                                    The actual fees BTC, ETH, BCH, LTC, Doge http://cryptofees.net/

                                                    [–]tchakd 1 point2 points  (0 children)

                                                    Totally Agree.

                                                    ​

                                                    Still acumulating LTC since 2 years.

                                                    ​

                                                    No doubt that it will touch >1000usd easily

                                                    [–]ShaneRMTanner 1 point2 points  (0 children)

                                                    I'm super new to the crypto world, but I think that it's time to take the leap! I'm going to buy some LTC tomorrow and let's see if this is as fun and stressful as people make it out to be....

                                                    [–]Andyham3K / 3K 🐢 2 points3 points  (1 child)

                                                    With the relatively tiny market cap compared to Bitcoin, would volatility and potential whale manipulation not likely scare off institutional investors?

                                                    Also, somewhat off-topic: the stronger a coin similar to Bitcoin gets (or any coin for that matter), the riskier it will be to have big holdings in Bitcoin, right? If hypothetically BTC and LTC had equal market share, say 40% each, and "everyone" was sitting with a 50BTC/50LTC bag (as opposed to the 80BTC/20ETH ish meta we have today), I would be fairly nervous that while I was asleep, some news broke that made all the big investors shift to a 100/0 bag, in either direction, which would obviously be a huge blow for anyone still on a 50/50 bag. To me, the idea of a "silver" store-of-value doenst quite sit right. Bitcoin, despite its flaws and relatively massive volatility, still feels like a safe haven in crypto, because it is undisputed in its role. If LTC becomes big, even 20% of BTCs market cap... BTC would have losts its only feature, and no longer be a store-of-value. And without BTC, LTC wouldnt make it. In other words, if LTC grows big, it will die. As long as we have high volatility, there is only room for one pure store-of-value(?)

                                                    Would love to hear your thoughts on that.

                                                    [–]LetsBeJolly[S] 5 points6 points  (0 children)

                                                    I agree that Bitcoin losing it's status as the undisputed king could be damaging for the whole market.

                                                    However, I don't think ETH or LTC or any other alt will be able to take enough dominance away from BTC.

                                                    For example LTC has peaked at 3.2% market dominance every previous cycle before going down, I expect something similiar this cycle. https://prnt.sc/wm6pu5

                                                    My aim and prediction for this cycle is 1BTC = 40-50LTC, I don't ever see it surpass 1BTC = 20LTC

                                                    I also don't think the huge majority of people would be going for a 50/50 bag. Some people may go 50% BTC / 50% alts, but it won't be enough concentration in one alt to cause your scenario.

                                                    Institutional buyers would also not go for 50/50 imo. In tradtional assets, Silver is 1/12 Gold's market cap. I don't see the majority of smart money going anywhere near 50/50.

                                                    While LTC has a lot more fundamentals on the way this cycle, I don't think it can be enough to damage BTC. Volatility has also been decreasing each market cycle, I think that will continue as the market matures.

                                                    [–]alterbushTin | IOTA 21 2 points3 points  (0 children)

                                                    Nah. I’m good. Going to keep sleeping.

                                                    [–]MartialImmortal 1 point2 points  (7 children)

                                                    Charlie himself stated in 2019 literal 3 people are working on it

                                                    [–]LactatingJelloPlatinum | QC: CC 184 | DOGE critic | VET 7 10 points11 points  (1 child)

                                                    The team i have at work is only 5 people and we work on one of the most used apps in the world. Quantity doesn't equal quality.

                                                    [–]Saintsfan_9Bronze | QC: CC 18 | r/WSB 82 1 point2 points  (0 children)

                                                    You work at pornhub?

                                                    [–]LetsBeJolly[S] 7 points8 points  (3 children)

                                                    Well that seems to have changed. He is leading the Litecoin foundation and it seems there is a lot more being done recently.

                                                    However I would have to say I don't think Charlie does the best job on the marketing side. Maybe he likes to focus less on that side of things but marketing is key in crypto these days, so I hope he can step up further on the marketing for LTC.

                                                    [–]MartialImmortal 3 points4 points  (0 children)

                                                    Foundation lists 1 full time dev and a picture of some child, so max 2 devs if you take this meme pic seriously

                                                    Charlie would make it 3 if he's doing anything

                                                    [–]MartialImmortal 2 points3 points  (0 children)

                                                    hello? how about a reply? who's the 4th dev and so forth? Is this a difficult question

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                                                      [–]HemskeTin 0 points1 point  (0 children)

                                                      And he dumped all his LTC.

                                                      [–]porkyboy11 1 point2 points  (1 child)

                                                      Litecoin got me into crypto back in 2016 but at this point Im just done with altcoins entirely

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

                                                      Usually only good to buy around this time of year. Get out around august/september. Lots of profit to be made from alts at certain times but don't stay in alts when alt season is clearly over would be my advice.

                                                      [–]SiXthaTin 1 point2 points  (2 children)

                                                      But would it be a good time to buy litecoin now I mean +200% ltc/usd in the past 6 months?

                                                      [–]LetsBeJolly[S] 4 points5 points  (1 child)

                                                      Most coins are like that vs USD right now. You should be focusing on the ltc/btc valuation more imo.

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                                                      [–]SoiledCold5XMR/BCH 0 points1 point  (0 children)

                                                      LTC is basically just another altcoin with low fees. The privacy is a good new feature but like, you can use monero to get better privacy and monero is cheaper than litecoin to send

                                                      [–]imperator285 -1 points0 points  (0 children)

                                                      Id like to hear OP or anyone else explain why LTC is better than XMR.

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