Litecoin is a blockchain based cryptocurrency that is very similar to bitcoin. The main differences are that litecoin will have 84 million in its circulation which is 4x the amount of bitcoin that will be put into circulation. Litecoin also has activated Segwit which increases the blocksize allowing for quicker transactions and lower transaction fees. Litecoin also in my opinion is very undervalued and underpriced. Here is why, litecoin has about 3x more coins in circulation as bitcoin which means it should have approximately 1/3 the worth in theory. This mean litecoin should be valued at about $900 (bitcoin is at $2700 as of the time of this post) and it is only priced at $45 right now. Great investment opportunity and I believe we will see some large gains in the future.
Garrett Engman
Interesting!
I see two limitations with Litecoin as to why it won't reach parity with bitcoin. I do see it going up and I hope it does since I own some. (1) branding and acceptance not even close to Bitcoin. Countries like Japan are adding Bitcoin and may not have incentive to add more because you can always change one crypto into Bitcoin. (2) Litecoin has an actual known team behind it. You can't raid a bitcoin office, or charge a bitcoin team with tax evasion, money laundering, etc.. You can't shut down the bitcoin business.
If the Fed really wants to go after Crypto's then eventually I could see them getting charged with aiding money laundering or terrorism. Charges don't have to be real, they could run a false flag terrorist event and claim that crypto enabled the financing. I will always use a little money to play the crypto hype on the side, but Bitcoin is my long term bet for holding value and Ethereum is my corporate bet.
oh, and following you now because i love the conversations on these topics. I'm learning a ton from Steamit.
I disagree with the branding just because cryptocurrency is still very young and not very widely accepted and I feel along with Ethereum it will start to grow massively, where I do agree is that there is a team behind litecoin and I am admitting to ignorance to this but is that known team a necessity for the litecoin platform?
is there really a team? or is it core developers just like bitcoin has?
my understanding is that it has its core developers, but the coin is out there in the peer to peer world same as bitcoin
yeah if its just going to be bitcoin and ethereum as long term bets those are pretty safe, but btc and ethereum wont be the only 2 biggest players in the space. for me, at this point bitcoin and ethereum are already so large that i can't hold much, i got in too late. who knows how much they'll go up?
they say bitcoin a million per coin which is a figure that people got to BEFORE the rise of all these altcoins, but it would be awesome if it reaches that much.
With all these new ICOs out there, theres no doubt with some digging, youll find the next ethereums and bitcoins.
but also about them getting raided, i can see your point, its definitely a threat to the fed, but does litecoin really have a team? or do they have core developers who are just invested in the project same as anyone else? i think the creators of these coins still remain involved but not in the form of a traditional company that has an office. thats the whole point of blockchain is that once its out there, theres no turning back and it spreads like wild fire computer to computer. peer to peer technology. nothing to raid.
i do think with the amount of coins out there now, that it will weaken the potential price of litecoin and other coins, im sure about that.
do you like any other crypto projects out there? just curious what are some that you think us late comers should check out?
LITECoin is my favorite scale in Crypto right now. I put some into it each week.
I agree and I have started too myself !!!
I agree with your assessment that Lite is a great investment opp. I also think there is a big upside to it.
Hey OP, one thing i couldnt help but think as i read your little piece there was, yes its 1/3 the worth in theory, and a few years ago it was definitely conceivable to imagine that, but what about all the other coins?
don't you think that having so many coins on the market would lessen the price? if bitcoin goes to 1,000,000 per coin, it'd be nice to think that litecoin would go to 300,000 per coin, but with all the other options out there... dont know...what are your thoughts?
I think litecoin will follow up nicely since its very similar programming to bitcoin, it will be the more traded of the two coins bitcoin will be the gold and litecoin will be the silver