Litecoin promises more than Bitcoin? But do you think Litecoin will rise again 100 times its price again? And I say this because in 2017 we saw that Litecoin step, to trade three dollars to more than 300 dollars per currency in a period of few months.
Hello how are you I hope you’re very well my name is Miguel and I welcome you SafesBitcoin.com, as always I will say that the opinions expressed in this article are for analysis but not to suggest an investment.
So please always make sure to do your own research, and in this article I’ll talk about what is Litecoin and what makes it so special and at the end of this article you will tell me if you believe or not that Litecoin is a good investment.
And as you know my personal investment strategy is to have invested in my portfolio most of the Bitcoin and then select a few specific alt coins that I think will have a great value.
A good case of use and real developments and that said and the spirit of transparency I will say that Litecoin is a Cryptocurrency in my portfolio.
Table of Contents.
That will happen to most of Cryptocurrency.
You also know that most of these Cryptocurrency, among these more than 2,000 that are listed in CoinMarketCap are going to extinguish, you know that but if we can find out which are the best.
They have a real-use case that has value those that will be used by people in the future when this market comes back up.
Those Altcoin are going to lead an acquisition and transfer of wealth that will change lives and in this article I will try the best I can to articulate what makes Litecoin special.
By the way if you’re new here do not forget to subscribe and activate the notifications of the blog to be the first to see the new articles and let me know in the comments if you have Litecoin in your portfolio and also if you think that Litecoin is a good investment.
which is Litecoin.
It is a branch of bitcoin and was one of the first created in 2011 by MIT graduate and Google engineer Charlie Lee, and if you like Bitcoin you will like Litecoin, because they are very similar.
You should think of Bitcoin and Litecoin on as exactly the same thing created to do exactly the same except that Litecoin transactions are faster and Litecoin rates are more economical.
Now that Bitcoin is becoming more like a value reserve like digital gold we’re going to need a coin that serves day-to-day transactions.
and based on its web site is a point-to-point type coin that allows instant payments of almost zero cost provides faster transaction confirmation times and improved storage efficiency.
It also talks about several aspects first the community which the largest of them is registered in network and where we can see that already has more than 199,000 subscribers.
How to manage a greater number of transactions.
Then another aspect is the chain of blocks which says that it is able to manage a greater volume of transactions than its Bitcoin counterpart because the generation of blocks is made more frequently.
Then on the subject of the reward says that the miners can generate 25 coins per block the amount of coins generated is reduced by half every four years 840,000 blocks.
Therefore the Litecoin network is scheduled to produce approximately four times more currency units than Bitcoin or about 84 million of Litecoins and really from the investment standpoint.
What form of payment is more Bitcoin or Litecoin veils.
When we talk about digital currencies the real fast and economical use is what matters most to me and if people use Litecoin as a means of payment for everyday transactions in my opinion that makes the Litecoin a good investment.
Now imagine what you’re thinking you’ll say hey Junior but bitcoin already has the Lightning network which has already increased 16000 percent last year.
Making Bitcoins transactions faster and cheaper and it’s only a matter of time before this allows the bitcoin to be the currency for daily transactions.
Lightning network implementation.
And I agree and I’m not discarding this and I think the Ray network is one of the most important developments for the adoption and use of Bitcoin but you knew that Litecoin is also implementing the Lightning network.
Making them transactions fairly fast and cheap and even faster and cheaper than the bitcoin and here’s a tweet from Charly that says the following.
Says Litecoin will also be the easiest lane to the Lightning network here asks how many times it takes too long and the rates are high.
No problem open a payment channel Litecoin the chain cheaply and quickly then change atomically by BTC When you need this can be done in a single step using submarine exchanges.
And on this point of line in network the Litecoin recently I read this art that gives you a good view on the network of rays of Litecoin as competitor of the network of rays of bitcoin and to summarize it a little.
It says that although Lightning’s transactions are extremely cheap you still have to pay a regular bitcoin fee to open and close a channel and according to a calculation they did this mentioned here you need to perform 16 Bitcoin transactions for the Line is cheaper.
Which means to open a channel of line in network.
For example that Bitcoin cash and you would need to buy for example 16 cafes to get the value of your money and make up for what you cost the rate of opening and closing the limit channel.
That is to say that opening a channel with a node of line in network is something like a Starbucks rewards card where you put a few dollars on the card to save a small percentage in the cafes you buy and mention.
Here that until recently an average channel of line in Network has a capacity of about 59 dollars and the point of comparison was that the light nit is a brilliant solution for large and small transactions.
But not for the median means that the lightning with the most convenient for transactions for example of 100 dollars or more or for 100 common bitcoin transactions of one dollar but that would not be a great solution for medium or little size transactions Frequent.
And that’s where online in network transactions with Litecoin are more convenient and below is a graph showing that the Bitcoin average rates were about a dollar and those of Litecoin represented in this red line.
They did not exceed the 21 cents so rationally no participant will spend a dollar to open or close a channel of light needed Bitcoin unless they are users who make very frequent transactions.
And while a channel of line in network with Litecoin or on the other hand could be made with 10 or even 5 dollars which costs much less but beyond all this it is important to investigate.
Litecoin has a future?
If this currency will continue to gain adoption if Litecoin has a future is to say whether it will be here in 5 or 10 years and something to keep in mind is that the Litecoin has withstood the test of time almost as much as bitcoin while many of the alt coins you see and market cap have Created only in the last two years
However here you see that the icon has survived since 2011 surviving bearish markets since that year and the most rigorous if we go to the price chart can see that came from the year of its creation the 2011 was trading in a range of 2 dollars for coins to Late 2013 as we can see here from which the price was fired from $2 to an average of 48 dollars.
In most exchanges the maximum price was about 55 dollars but this meant an increase of 24 times its price and then from there entered a bearish market of 4 years which did not recover until as we see here the beginning of 2017.
Something that the truth in analyzing it makes me even ask myself if I could have maintained an investment in Litecoin for 4 years and the truth I do not know but you would say.
You should buy Litecoin.
But well another important question would be if I buy Litecoin look I do not want to smoke in this article and look at it with a crystal roses these are my thoughts and I think Litecoin will be present in the future.
However this is the question Litecoin have not had the same price increase rate that Bitcoin has had over the years Bitcoin if you remember has gone from 10 cents to a dollar to $10 to 100 dollars to a thousand dollars to 10000 dollars and so on Which has been a very healthy ascending trajectory.
According to the chart of the historical price Litecoin has not had the same rate of increase most of the life of Litecoin has been negotiated between this price range of 1 dollar 2 dollars 3 4 or even 5 dollars.
And this is important to take into account but on the other hand have seen good news about the adoption of Litecoin for example review a few comments from Charly over the last few months here we can see this Twitter where it says that since Mount Box announced the Litecoin support on the 2013 and they didn’t meet.
Litecoin is in the most frequent exchanges.
I have been on a mission to add Litecoin to exchanges to help increase liquidity with the launch of Litecoin in Yemen and today one of the major exchanges of Bitcoin is compatible with Litecoin’misión fulfilled ‘.
Also another news where Lite code was one of the sponsors of a UFC event in which billions of people saw this in a pay relay and I don’t say that this means that people came out of there saying or Litecoin in interesting let me buy a Handful of Litecoin.
But if I see it as an exercise in brand awareness by presenting Litecoin to people who have never heard of it before and in the future when they decide to be interested in the Cryptocurrency.
It will not be an unknown name which is good news for a future mass adoption and also other recent updates or interesting news around Litecoin.
Companies that use this Cryptocurrency.
We have for example the network of rays in Litecoin that already passes the 100 nodes which is a great step forward also a private flight company operating on the West coast of the USA called Surf is now accepting Litecoin also.
Then Charlie put a Twitter talking about the functionality of Litecoin and considering adding a privacy feature for this functionality also another news about the founding of Litecoin that bought 99% percent in the German bank.
Which when buying this 10% i think it will automatically help the widespread adoption in the Cryptocurrency for remittance loans microfinance e-commerce and perhaps more things.
So I think it’s good news and then also other news about a Brazilian supermarket chain operating in Rio de Janeiro called Oasis is now also accepting in addition to Bitcoin Litecoin as a form of payment.
That is expected of this crypto currency this year.
Another interesting thing that is coming to Litecoin this year is another significant event in which the reward for mined blocks is expected to be reduced by half of its 25 Litecoin to 12.5.
This is called the Litecoin holding which is halving the reward for mined blocks and according to data from this website as we see here are less than 3 million of coins for the next halving.
It also tells you that the generation time of each block of the Halcóin is 25 minutes and it is expected that half of the block will be activated after two hundred six days from the Publicasion of this article.
How many Litecoin coins are mined.
We also see that Litecoin marks a significant milestone where it already has mined 260 million of coins in circulation and in relation to all this of the garden it is expected that there is a greater increase in the price once the currency is submitted to half of the reward.
That will be as you see here on August 8, 2019 and in terms of price the value of Litecoin is more sustainable and more affordable compared to the price reached at the end of the 2017 and in fact about a year ago Charly and his founder Twiteó.
I think I have it here where I thought the LiTecoin was overvalued at 300 dollars and expected to fall the price at $20 which says here literally sorry for ruining the party but I need to dominate a little emotion.
Buy Litecoin is extremely risky but I hope we have a bearish market of several years like the one we just had in Litecoin that lost a 90% value of 48 dollars to $4.
Then if you can not handle the fall of Litecoin to 20 dollars do not buy and for this Twitter Charly was criticized condemned and even repudiated by the people of the community.
As you can see in many of these comments and were angry with him for tweet a correction so unrealistic which of course turned out that with the retrospective for the 2020 seems to be the most sensible of us all.
In short I have a bit of Litecoiny I think the icon is one of the crypts that will be available in the future and we must keep on our radar However I also believe that it still has a lot to do to achieve a massive adoption and be accepted among Major trades worldwide.
And to make no form of this crypto currency I think they need to settle more like I said most of their history has been negotiating between a dollar to five dollars except for some key price flows.
Many weak hands that bought between the late 2017 and early 2018 are now shaking so said this I thank you for viewing this article I remind you again to activate the notifications and do not forget to let me know in the comments If you have Litecoin.
And what is more important because you think that Litecoin is a good investment I will be reading and answering the comments so thank you very much for viewing this article and see you in the next goodbye.