I really wonder, with all those new coins being created that take the blockchain to new levels and lighting network on the horizon for Bitcoin, if there is really a future for litecoin in the long term. I just do not see it but what are your opinions?
when it hits $1000 by March, $5000 mid by 2018 and $8000 by November you can ask the question again
Because of Litecoin’s decent adoption it has a much better chance than most newer projects that are less adopted. Adoption by a sizeable community is key in predicting what the biggest value transfer cryptocurrencies will be.
An interesting feature of many cryptocurrencies is that they are based on the Bitcoin code base, and so upgrades applied to the Bitcoin network can be easily applied to similar networks. Same goes for atomic swaps. This means that certain cryptocurrencies, such as Litecoin, will be easily inter-operable with Bitcoin and more likely to share any success.
Litecoin also has excellent developers who are well connected and not blind to the scaling issues and are working to solve the big picture problems that we often forget are still not solved by many of these new blockchain based cryptocurries who are faster and cheaper for now, but will still need to face hacks, high traffic and community disputes without breaking to be considered on the same level as Litecoin.
The more the value of a coin increases, the less likely it is to be used as a medium of doing transaction i.e. a vast majority will begin to HODL. Please let me know if this sounds illogical.
The only two ways I am able to think of to break this paradigm is either the amount in circulation should be incredibly high (this essentially will mean a lower price per unit) or value should be extremely controlled. The later will imply some form of centralization (like in Ripple). These two will make any coin more favoured to doing everyday transactions.
I see a flaw in your first argument, as I don’t think it’s the large value of one unit of the coin that creates hodlers, but the fact that it continuously increases.
In this perspective a lower value per unit, while easier to handle by humans, it’s not really that relevant to this aspect.
As for the controlling of the price, I think there are other ways to stabilize the price, much of the volatility we see today is due to the relatively small sizes of the market cap
But why only Litecoin? I mean, you make general assumptions about the market, and IF they are true, the whole market would respond to that, not only Litecoin!
As for your inquiry, there is a bright future ahead of LTC, because it’s more technologically advanced, functional, cheaper and faster (compared with BTC), and more stable in terms of the price fluctuations. To me, LTC is one of the most perspective altcoins that exist in the market, and I will always invest more in case such chance and opportunity occurs.
It’s march now, and litecoin is at $180.
I basically agree to your statement, would like to phrase it differently: if a coin shows signs of high volatility but increases over the long term, people are more likely to HODL. The less volatility we see, the more likely people are to use it as a form of everyday transactions. Ofc what is also important here is things like, transaction fees, speed of transaction, support by merchants, wallet software etc.
so what do you think? what is up with LTC… btc comparison is at 4700 sats. Is there something I’m missing or is it dying… like Atari…
I started my mining adventure with L3++ Litecoin miners. Those were the days
I still have a position in Litecoin for shits and giggles, but I don’t really believe in it too much. When it’s undervalued, I buy a bit, simply because it withstood the test of time. There are almost no dev’s working on LTC and it’s sitting under a thick layer of dust and obscurity.
I will be liquidating my LTC during the bull run in 2021