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Litecoin is the new Bitcoin. People are realizing there is nothing special about Bitcoin, and I'm saying this as a HODLer. Stores of value will come and go. Bit
by aviv 9y ago
Litecoin is the new Bitcoin. People are realizing there is nothing special about Bitcoin, and I'm saying this as a HODLer. Stores of value will come and go. Bitcoin will eventually lose its supremacy. It's not like people use it as a currency at this point. And if they did - Litecoin is far more efficient.
- stale2002 9y agoI'm surprised that of all the Altcoins that you could have picked, you chose litecoin as the one that is better than Bitcoin. Litecoin has never been about actual utility or usage. It has always just been about being a store of value, and just copying every development from Bitcoin. There are definitely altcoin that are different and interesting in meaningful ways. But not litecoin.
- matte_black 9y agoPeople don’t want a different or meaningful coin. They just want a better Bitcoin.
- FreeCrypto 9y agoPeople want a coin that can give them 1000x gains, the next iteration of "buying btc in 2010." Far < 1% of those people has ever used a cryptocurrency to make a purchase. Related, but not directed at prev comment... If anyone actually cares about sound, uncensorable money, then they should look to the $300B network that has been battle tested and withstands constant attack. BTC has prioritized stability and security, and done very well in that regard. I understand that btc businesses, and the small minority that purchase from them, are frustrated that the digit cash use-case is more difficult right now. From my perspective though, the proven stability and security is far more valuable in the long run, and is something that other coins only talk about. I think btc has to go through a full financialization to complete its price discovery (eliminate the massive volatility) before any mass adoption of a cash use-case is practical. Luckily, futures and ETFs are incoming, and lightning network is testing on mainnet.
- fastball 9y agoWhy do you think Litecoin is more efficient?
- aviv 9y agoLess fees, shorter confirmation times, etc.
- hyprCoin 9y agoI would encourage you to look into other alt coins for human to human value transport. My personal favorites are raiblocks and smartcash, but there are many others. Eth can even be used very effectively. Litecoin has a cool name, a good position on the charts, and all of the same issues that bitcoin has.
- ktta 9y agoWon't it be plagued by the same problems once the transaction numbers go high? It has 4x capacity, but I don't think that'll be enough for long.
- ceejayoz 9y agoBitcoin had those things a year ago, too.
- stale2002 9y agoNot for long. The creator has stated that they don't plan on increasing the blocksize. They've swallowed the poison pill of "copying everything that the bitcoin core development team does", which means they hate low fees and on chain scaling just as much as the bitcoin community does.
- cantrip 9y agoI would argue that Ethereum is where it's headed. Ethereum does everything that Litecoin/Bitcoin does along with a smart contract programming layer built into it, and a great team of incredibly smart people iterating on the platform. Millions upon millions of dollars are being poured into companies built around Ethereum for a reason. If you look at the open positions for Consensys you can see just how many positions and projects one company has going on.
- arca_vorago 9y agoI would argue Monero is the first stop before the coins figure out a more environmentally friendly method, because the killer feature of a currency is anonymity. I don't know much about ethereum though, does it offer anonymity functions of some sort?
- cantrip 9y agoBoth environmental friendlyness and anonymity are on the roadmap.
- juanmirocks 9y agoLess not forget the competitors to Ethereum too, such as EOS or Cardano. These should provide better scalability.
- cantrip 9y agoAs soon as I can experiment with programming an EOS or Cardano smart contract I'll be happy to comment on their viability, but as far as I can figure out you can't, or at least no one is doing it. Ethereum has a working smart contract on the foundation website, as well as an online compiler to test with.
- juanmirocks 9y agoNo doubt about. Either way, the newcomers are bringing new ideas that can also make Ethereum improve.
- matte_black 9y agoBut if Litecoin is more likely to be used as a currency wouldn’t that mean it would have to have no chance of appreciating with the same volatility that sent the price of Bitcoin to $20k? Personally I don’t give a damn about which coin is the most practical currency, just show me which one is most likely to have a meteoric rise so I could throw a few bucks into it and pull out before it all goes bust.
- aviv 9y agoThat ship has sailed. Save your money so you can afford a time machine. :) But one to watch is https://www.telco.in/ https://www.telco.in/
- matte_black 9y agoI’m about to buy $15000 in Litecoin, we’ll see what happens.
- leesalminen 9y agoRight after it tripled value? I’m geniunely interested in your thoughts on this.
- cryptoz 9y agoI'm not OP but time in market beats timing the market. If there's a chance LTC goes 10x in the next few days or weeks or months, better to have bought now than trying to wait for a dip that may or may not arrive.
- matte_black 9y agoMy thoughts are this is it, if this is going to take off this is where it all begins. I’m getting in now before it’s doubled by the end of the month.
- aviv 9y ago
- curyous 9y agoBitcoin Cash scales far better than Litecoin.