Argument to Move Some Bitcoin To Litecoin -- Current Possible Risk vs Untapped Potential

in litecoin •  2 years ago

Litecoin I hope, has improved and matured enough to be trusted as a significant cryptocurrency like Bitcoin. Once, I said just from intuition that I thought there was something significantly wrong with litecoin. Maybe it was its previous pump and dump history, being mostly owned by a few Chinese. Now it has become more mainstream and trustworthy, with less centralization in ownership, I'm guessing. Also having Coinbase and later Charlie Lee working with litecoin gives me confidence that it is legitimate.

I believe Bitcoin currently has a bunch of investors, whose intention is to take advantageous of current events to make money especially of the forks, who may sell out. But others have invested knowing that Bitcoin’s intentions and vision are becoming reality. This is good news for Bitcoin. Still, I'm guessing that a few are ready to sell off BTC and BCC within three months, depending on events.

I have been wrong before and will probably be so again, but I have personally moved my less-risky funds to litecoin. I believe Bitcoin is at a slight risk for a time, and that litecoin has not reached current potential/ intrinsic possibility. Actually I've been searching for a stronger crypto hedge than bitcoin fearing a downturn in crypto, and I've chosen litecoin for now. FYI, my life savings are not in crypto.

(Actually I chose Dash for a few days, then sold it for high-risk stuff right before it Dash soared. Hah. With Litecoin, I expect a longer gentler climb over more time.)

But really, the btc fees and lessening of hash/network-power are driving me nuts, although I had a really fast bitcoin transaction, just after the last fork.

Bottom line is Litecoin may be a good safe place for a while, plus it is easier to use speed wise and has good people watching/working on it. Therefore, it may be a good choice for now.

The only possible concern, is the one-coin-trumps-all theory and such issues, but such a phenomenon may never happen or take time to happen. Also, many good people are striving to improve Bitcoin, so there is some unknown potential possibly.

This is just personal opinion, of course. Good luck.

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