Ratio Play — bitcoin : litecoin

Hi Friends and other crypto enthusiasts!

Well it sure looks like the Honey Badger has woken up from its most recent venemous attack and is now back on the prowl: smacking the shit out of snakes and not giving any fucks!

Afterall, bitcoin is back above 8k and looking like it’s gonna’ go for a rip anytime. But what about other cryptos, and more specifically, litecoin? @smaulgld
posted yesterday about Ltc’s nearly 500 % rise this year so far— which makes it the best performing top 10 crypto within these parameters.

I have long said: people who have used litecoin, love litecoin. It’s faster than btc, it’s cheaper to send, and it confirms quicker than bitcoin. Also, and this is interesting from an eco-socio-historical perspective: prostitutes use it! Wait! Whaaaah!!? What are you talking about @thedamus? Well, it’s true... about 2yrs ago when btc started to get crazy and transaction fees were high, my partner (who owns and runs the first ever btc ATM in the world right here in Vancouver) noticed that it was these “ladies of the night” who were using the original alt coin almost predominantly. Now I won’t speculate about the advantages of accepting this coin from clients except to say there would be less waiting around for confirmations and smallest fees, but I will share my partners opinion that it is because the “back page” advertising in many local papers accept litecoin for payment. These are the highly colourized and lurid ads promising many happy tugs on your heartstrings, and indeed, other body parts. Whatever the case, the “oldest profession” known has embraced crypto, and the medium of choice is litecoin.

Furthermore, the “halving” is coming up for Litecoin this August sometime between the 6th and the 8th and this means that new supply is going to be cut in half.

Historically, for both LTC and BTC, the months preceeding the halving have been times of great price movements. And indeed, in the past 6 months LTC has nearly 5x’d itself. But is this run over? Personally I think not. Right now it costs about 0.0165 btc for one Ltc which makes litecoin a penny and a half (about) to bitcoin’s dollar. This seems cheap to me. Afterall, there are only 4x the litecoins as there are bitcoins (84 million vs 21 million) and it has the advantage of being the second oldest, and thus secure, blockchain out there. Now I do not think we will see a 0.25btc litecoin anytime soon, but I can easily imagine a 0.05 right up to a 0.1. And if this thought is correct then we still have a 3x gainer on the way to meet the low end of that speculation.

Who the hell knows? Certainly I don’t claim to know what’s going to happen, but I do think that litecoin has a very good chance of making a run up in the next few weeks. And from what I can tell by reading many articles and posts too in litecoin forums, there are many people out there who are expecting it to top out at about 0.022 to 0.025 which is an approx 50% gain from where we are today.

Now of course do your own due dilligence and know of my long track record of getting things wrong, lol, but I do believe that there’s some satoshis to be made on this trade in the next 4-6 weeks. And speaking of satoshis, do you know what fractions of Litecoin are referred to?

1/1,000th is called a “lite”

And,
1/1,000,000th is called a “photon”

I freakin’ love that! And look forward to blowing a few million photons on some shiny merchandise going forward.

Personally I think it’s a no-brainer. Litecoin is the silver to bitcoin’s gold, and just like in the metals markets, these ratios are way out of whack. It takes 90 ounces of silver to buy one ounce of gold, and it takes about 61 litecoins to buy one bitcoin. So if you think these numbers are not what they should be, then act accordingly.

Got Litecoin?

Cheers! from @thedamus
🤑🤑🤑🤑🤑🤑🤑🤑🤑