Litecoin the 100 club

in cryptocurrency •  2 years ago

Litecoin, the silver to bitcoins gold. Back in 2013 right after its re-introduction to the market it saw a very quick and very brief rise to $40 USD value. This bubble quickly burst and by June of 2014 LTC tokens fell bellow the $10 mark and stayed below the $10 mark for almost 3 years. The majority of people wrote Litecoin off as a dead coin. However although it had fallen from grace the Litecoin was a great project with solid technology. People mostly via the Dark Web continued to trade with it. The Litecoin blockchain is very similar to that of Bitcoin. Tokens are produced through processing transactions what we call mining. In exchange for processing these transactions the miner is awarded portions of tokens for each transaction processed. Because of the low USD value of LTC tokens a massive amount were produced by the miners during Litecoin's time as a "dead coin". As of this writing there are 51,656,857 LTC tokens in circulation with a production limit of 84 million tokens that can ever be produced. 

In my opinion Litecoin was never dead but was in fact biding its time waiting for its chance to rise to power. One of the reasons that I attribute to Litecoins stagnation was that Bitcoin transaction times were like lightning compared to what they are today. I recently moved 15 LTC's from Coinbase to Bittrex during peak trading hours. Within 5 minutes the transaction showed up as pending and within another 10 minutes it was in my Bittrex wallet and ready for trading. A Bitcoin transaction between Coinbase and Bittrex during peak trading hours would have taken 2 hours to show up as pending and probably another hour to become available for trading! I know this because I have done it before. But what really makes Litecoin shine is how trivial its transaction fee's are compared to Bitcoin and even Ethereum.

One of the major barriers that crypto-currency needs to overcome to achieve true mainstream success is to trivialize the cost of transaction fee's. If you're buying a Kilo of heroin from a vendor on the Dark Web paying a $10 transaction fee is irrelevant. But if you're buying a $10 meal at McDonald's and you have to pay $11.50 or $12 after transaction fees its a big deal and just not a smart financial decision. Litecoin is the answer to that problem. A problem that Bitcoin in its present form will never be able to solve. 

Now I will discuss how discuss how Litecoin in the past couple months has gone from a "dead coin" to as of this writing having a USD value of $48 per LTC token. In April of 2017 word began to circulate that Litecoin would be added to Coinbase. and LTC tokens broke above the $10 barrier for the first time in 3 years. I made my first Litecoin purchase when LTC's were $12 dollars a token with BTC using a JAXX converter. I only wish I had bought more. On May 3rd of 2017 Coinbase announced it would begin to deal in Litecoin. Immediately the price of LTC tokens went from $12 to $20! I spent all of the USD I had in my bank account and I am glad that I did. Sure enough the price of LTC continued upward reaching $29 the next day. By the next week LTC tokens hit $39 I was certain that within 2 months that LTC tokens would hit $100. But than the WannaCry malware attack rocked the world and especially the crypto-currency market. Prices across the board began to plummet. BTC fell from $2000 $14000 LTC went from $39 back to as low as $19 at certain points. The only Crypto that had not only held strong but actually thrived during the WannaCry attack was Ripple. With XRP tokens hitting new heights while everything else was bottoming out Ripple stole the show. I actually profited greatly by riding the Ripple wave taking a risky gamble by converting all of my 2.5 BTC into XRP and 24 hours later converting it back into BTC for 3.15 BTC the best trade I ever did. After the mania of the Ripple wave subsided came the STRATIS boom. STRATIS tokens went from $2.60 to $11 in a week. Again the Crytpo-Community was captivated. All the while Lite coin stagnated fluctuating between $20-$30. However I never stopped buying LTC. I knew that the technology was solid and the development team was trusted. They laughed at me on my forums when I would speak in favor of LTC. #100club was my battle cry. I knew that Litecoin would weather the storm and would prevail. When news of the Bitcoin fork broke the #100club began to grow, people began to believe me. Now the same forum that laughed at me even banned me temporarily for being a "litecoin shill" is raving about LTC. Somebody posted the other day that they had just bought 50 LTC tokens and they expressed remorse saying that they had gotten in late $48 is nothing compared to what LTC tokens will be worth even just 1 year from right now. I foresee LTC being at least $100 by 2018 but $200 is possible. The Crypto-World is changing and I'm in the #100CLUB!

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Great article. got into LTC around $30 and - being optimistic - im hoping it reaches some serious new hights in the coming years!!


Oh it will!

Great post👍 keep it up my bro.....

STRAT is faster. LTC going for silver is just marketing. STRAT offers more.


I own STRAT and I have high hopes for it later on down the line I own LSK too.


I like Lisk too, but it's similar to ETH is a few ways. But good to diversify in competing coins.