RE: BITCOIN v LITECOIN - WHICH WOULD YOU RATHER BE IN?
Litecoin ALL THE WAY!!
Litecoin is NOT my favorite crypto, but I much prefer it to Bitcoin. Recently, I have been beginning to get-out-of Bitcoin as I see at as much too large, impractical, and does not have a future. As you mentioned, Litecoin at least has quick transactions and is a practical option for real-world use. However, it is far from the best option and it will continue decline down the list as newer and better coins continue to roll out. I believe that the coin that will catch on as a practical currency will be one which puts an emphasis on privacy - like Monero (XMR) - because it is not only useful for the average joe, but also the "high-rollers" who have the greatest influence on the price (whether they try to use it for tax evasion or shady activities, they will drive its price up and increase the peoples' trust in the coin).
Thank you for sharing and bringing about this discussion! You, sir, just got yourself a new follower! 😎
Cheers Jack, I’ve followed you back 😎. Always happy to support fellow market analysts and traders.
Don’t underestimate Litecoin’s first mover status and the fact that it is building real world business relationships already. This will be the key to whether a coin succeeds or not.
I’ve never properly looked into Monero but the privacy aspect is huge. Can Litecoin integrate this into a future release? I read someone else talking about this possibility.
I really hope LTC and the team of developers are working behind the scenes to build business relationships. That will be the next phase for success of all cryptos. Adoption for commerce and exchange will be essential to long term survival, and the developers of LTC (or any crypto) should be listening to what businesses are saying is important to them as they consider taking/enabling payment in cryptos. The companies who accept cryptos will want more stability in pricing as well.
Price stability will come as the market matures. I’m not worried about this as a factor affecting mainstream adoption.
Listening to and building partnerships with business, as you say, is key!
Right now it seems that the first crypto to build a partnership with Amazon - which would be a VERY hard thing to do - will pull ahead and probably overtake Bitcoin within hours of the news! Once a company as large as Amazon is comfortable taking a portion of their revenue in crypto, many unsure people will become trusting of the 'new' technology.
Also, with IBM becoming a big player in the Crypto space, they will likely have an 'upper-hand' when it comes to negotiating with other large companies (meaning they might be the first to partner with Amazon).
It is always possible for Litecoin to integrate privacy into a coming hard fork, but it would require them to hide the blockchain and I do not think that LTC's existing users will accept that.
Thank you for your follow!