$600 Litecoin and why it makes a lot of sense

4 months ago

$600 Litecoin and why it makes a lot of sense


Photo Credit: coinbase

Unless you are been sleeping under a rock, you all know about the sky rocketing prices of Cryptocurrencies, lead by Bitcoin, which touched $3,000 USD at one point recently.

Names like Ethereum, Ripple, NEM and Dash have now almost become household words. Even the other 700+ coins out there have seen a lift of some kind, even though the majority of them are considered "Crap Coins" by serious investors.


Photo Credit: oxilady.com

One coin has pretty much been ignored by the masses. Sitting quietly in the background waiting to be noticed, like the girl who wears her eye glasses to the dance, but is perhaps the great beauty in the room. Her name is Litecoin and she is number 4. behind Ripple in actual market capitalization.

https://litecoin.com/

Litecoin has been around since the very beginning of cryptocurrencies, starting in October 2011, which makes it simply ancient in the alternative currency world.

Litecoin has everything a sucessful coin needs:

  1. A Purpose
  2. A Track Record
  3. An Active Developer Community
  4. Active Miners and Nodes
  5. Low Fees
  6. Fast Transaction Times
  7. Merchant acceptance and ATMs
  8. Software & Hardware Wallets
  9. Global Exchange Support

Some of us remember when you could buy a waffle or a cup of coffee with Bitcoin, you still can if you want to, waiting a day for your transaction to be verified and are willing to pay an extra $10 transaction fee.

Bitcoin is a victim of its own success and simply can't be used as a commerce tool any longer, it is now a store of wealth, like buying Digital Gold.

The same Waffle and Coffee, paid for with Litecoin would take around a second or two to verify with a transaction cost of just 1 U.S. Penny!!!!

All That Glitters

Litecoin has been stuck with the comparison that it is the "Silver" and Bitcoin is the "Gold". This is really a disservice to Litecoin and has no bearing on its true value.

As we know, Bitcoin is limited to 21 Million Coins. Litecoin is limited to 84 Million Coins (4 times as many). Yet the price of Litecoin has never really reflected this 4x value ratio. However with Bitcoin facing a possible Hardfork in its block chain, as soon as August 1st, investors are looking for options, so as not to see their holdings diminished in value.

As I write this, Bitcoin is trading at $2,547.15 and Litecoin priced at $39.04 or around 65 times less than Bitcoin. If we use logic and extrapolate a 4x price than Litecoin should be trading for $636.79 today or 16x times higher than it is today.

Implementing the Future Today

Litecoin also has the advantage of scaling as they have, by mutual miner agreement implemented Segregated Witness (SEGWIT) and will be supporting the Lightning Protocol in the future, which promises millions to billions of transactions per second across the network. To put this in perspective, the Visa Credit/Debit Network can facilitate around 25,000 transactions a second.

https://lightning.network/

Reality

Of the top 3 Cryptocurrencies, none can currently be used for real day-to-day transactions, they are simply investment vehicles. In the past Bitcoin was seeing growth in merchant and ATM support, but that has been rendered mute, by the current infighting, slow network confirmations and high fees.

Litecoin has all the support elements listed above, for quite some time, however it is still a viable platform and is taking proactive steps to remain a realistic choice to replace bank cards and traditional financial infrastructure.

Litecoin is everything Bitcoin should be, but is not.

Invest Accordingly.

Note: This post is for informational purposes only and represents the authors opinion.This isn't intended as investment advice. Readers whom wish to invest in precious metals and other assets should conduct their own due-diligence, including consulting with a qualified investment adviser.

If you have any questions, don't hesitate to ask. And if you liked this post please VOTE UP, RESTEEM, COMMENT and FOLLOW @clearshado for more Insightful Commentary in Support of Liberty and Freedom, Natural Rights, Alt Currency, Preparedness, Survival & Guns.

https://clearshado.com/

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Thank you for the encouraging and detailed post. I've been a LTC miner and fan since it was GPU mineable. I agree that it has incredible utility. I especially like the low fees and fast transactions.

Just yesterday I used my Bitpay visa card to cash out a little BTC for expenses but the fees were unacceptable, $23 for a $700 transfer. That got me looking for a debit card that accepts LTC. I came across Uquid. I'm going to order a card and see how it goes.

Followed, upvoted and resteemed

Thanks again

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Thanks for reading and commenting.

Excellent. Litecoin is on Coinbase for a reason. And it is finally above 40 dollars today. NICE.

Please follow, I have some really excellent posts coming.

: )

#payitforward

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Had to share this on facebook. Thanks again!!!

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Im looking forward to your post just followed.

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$45.71 right now. The highest it has been in the past is $50. Right now, I don't think it will have support to go higher in the short term.

If or when Bitcoin "explodes" on August 1st, we may see a rapid climb in Litecoin price or perhaps investors will temporarily abandon all cryptos for Fiat, waiting for the Bitcoin dust to settle.

Exciting Times - You are followed.

That would be nuts. I just feel like it moves to similarly with btc. Can't see it going past $100 anytime soon but then again I've been wrong 93 times just in the past day! Haha. Thanks for the article!

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Yeah me too. Predicting the future is usually met with failure.

Thanks for taking the time to read and comment.

Thanks for the great information, will post on my twiter as well.

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Thanks for reading and tweeting. I really appreciate your support.

Thanks for all the information and will be an exciting coin in the future

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Thank you for reading and commenting.

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Pleasure and all the best

The future is bright for the Lite!

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Thanks for reading and commenting.

Nice post. Interesting to see I'm not the only one that is thinking about this. The biggest group of uneducated investors in mankind get's a shot to determine the price of a crypto. It's an interesting world we live in. This is quite an interesting website I found: https://www.coincheckup.com I'm really enthusiastic about this site, they let you analyze every single coin out there. Check for example: https://www.coincheckup.com/coins/Litecoin#analysis To check Litecoin Investment and research analysis.