When all the upper management is either resigning, getting replaced, or fired. They want to get out before their name gets ruined or get arrested for some reason. Or they are let go to try and save money, upper management gets paid a lot. Don't buy shitcoins and expect to make money. Odds are way against you like the casino. Then like LTC the person responsible for creating sold his LTC and said he didn't want to influence it and that him owning it would be bad for the project, I don't remember the exact details but that was the gist of it.
XMR serves its purpose as an untraceable currency, specifically for privacy. By far the king of crypto when it comes to original fundamentals. But it will likely never be used by anybody but the privacy conscious and criminals. LTC doesn’t serve a purpose as a currency becuz it’s not fast enough. 54 TPS isn’t going to cut it. Neither of these coins would make it as a wide scale currency. Being in this game for so long, i’m damn near a crypto skeptic at this point, so I 100% get where you are coming from. But DeFi is wayyy too new to just completely be written off.
I don’t see any good coming from DeFi so far. And I also fail to see any tokens that serve their purpose. Enlighten me? I like the old PoW projects, LTC for small block size, XMR for privacy. Both have an organic distribution, and serves their purposes as currencies, without any downsides.
😆 wow that's an interesting list. I'm more looking for things that I keep seeing, like how the 3 I picked already were mentioned a bunch of times. I'll be discerning. Glad to know those 3 are no good in your opinion! I'll keep that on mind. Why do you say they are shitcoins? LTC gave me the most pull of any I decided against but it seems like overkill, having BTC, XMR and LTC. I think I should diversify more. Maybe another coin like LINK and then something that isn't represented elsewhere 🤔
I decided to try LTC mining in 2013, having read that is was possible at the time to break even on a mining rig in a month or two. I built a rig with a couple of high end GPUs and set it to work. It brought in about $14/day which was pretty great, but progressively declining of course. When I saw a post on bitcointalk announcing the coming launch of 'Dogecoin' as a joke, I decided it would be fun to mine. So I configured my rig and set it mining right from block 1. Naturally it mined a good amount, starting at something like 30k DOGE/day. With the (fluctuating) price it was actually more profitable than LTC, so I kept it running. With a bit of swing trading on Cryptsy I accumulated 10M DOGE by the time MtGOX imploded and the market was 'dying'. I sold my 10M DOGE for about $4500, which was about 3 times what I'd paid for my rig. I then sold my rig for close to what it had cost me. Felt pretty darn clever :-) 10M DOGE would have been $7M at the height of the Elon pump several years later. If only I knew eh?
The users/customers want faster transactions, but not at the cost of security. We want speed but also our crypto to be safe. Crypto space has evolved alot even if we are still early. Back then you would have to wait 30 minutes - 1 hour to transfer BTC, now you can use LTC/DOT or other alt coins which is much faster to transfer between CEX etc, ETH is great in many ways but imo they have insane gas fees
Maybe. My bank in 2021 said they were going to trial crypto (BTC/ETH/LTC) in early 2022. It didn't go ahead and now they're turning around saying this shit. I have lodged a complaint with AFCA in Australia but it'll probably go nowhere.
I don’t like LTC but I won’t deny that it’s a proven network. LTC is only relevant because it can merge mine BTC and Doge. That’s it. It has 0 use outside of it. It’s a shitcoin I like XMR. It is everything BTC was supposed to be.
I need to add 2 coins to my portfolio to fill in my 50% BTC, 25% ETH, 5x 5% altcoin portfolio. I've got MATIC, XMR and LINK as 3 of the 5 alts. What else is a good addition? I've looked at ADA, DOGE, BNB and LTC and I'm not sure I like those ones enough. Thanks 😊
Yeah, it depends what coin you use tho. I use LTC or DOT, because they have low fees and takes only seconds to transfer. Dont transfer with USDT or BTC really high fees. Tried to withdraw from Kraken to bank acc but very high fees. Thats why I go this way
LTC is what? Some kind of Bitcoin clone? Is there a reason to include it in my portfolio? What if Bitcoin stays dominant and LTC doesn't appreciate in value? This one seems sus as an investment 🤨 what does it do better than BTC or uniquely like XMR?
#Litecoin Con-Arguments Below is a Litecoin con-argument written by metnavman. > *Full Disclosure* > > *I sold my position in LTC this year during the last run-up to the ~$300s. Prior to that, I'd held a triple-digit position in LTC since ~2013. I did make money from this coin. That is only because of my time in the market, and not any particular strength of the coin in question. Truth be told, I'd have made more money being in other positions, so it is irrelevant. Perhaps I'll regret it one day. Perhaps not.* > > *I have been banned from various LTC-related subreddits for my opinions, prior to ever making this post.* > > > > * The technology behind LTC is old. It is tried and tested, but it is old. While that's not inherently a bad thing for many applications, it's not a quality I would consider "strong" in a space where new technologies have vastly out-paced the capabilities of this coin. > > * LTC has the similar advantage that BTC has of being an early mover. As one of the first few coins in existence, it's been capable of catapulting itself into some pretty big places. Problem is, the coin hasn't really *done* anything with that. Mind you, I'm not saying that it hasn't had development, or that it hasn't seen improvements come along. I'm saying that it seems to have more or less reached the limits of it's capabilities as a PoW coin, from a technical standpoint and an investment standpoint. Specifically as a less-valuable version of BTC, and more recently, left in the dirt by DOGE. It unclear whether or not it will recover. It did [have this](https://news.bitcoin.com/grayscale-adds-174000-ltc-to-its-litecoin-holdings-price-of-the-altcoin-unresponsive/) and [this](https://www.theverge.com/2021/3/30/22357246/paypal-buy-with-bitcoin-litecoin-ethereum-crypto-checkout) happen recently, but so far, from a price increase/positive outlook standpoint, it's kinda [felt like this.](https://imgflip.com/i/5b3zj1) > > * [There are better coins for speed](https://www.stellar.org/?locale=en). [There are better coins for transaction fees](https://medium.com/nanocurrency/cryptocurrency-fee-comparison-which-crypto-has-the-lowest-fees-4e9118590e1f). [There are better coins to make money trading on](https://coinmarketcap.com/historical/), depending on [your level of risk](https://www.analyticsinsight.net/top-10-highest-growing-cryptocurrencies-in-2021/). There are better coins for storing value, namely the one worth the most. The only time that statement would change is if you were *already invested in LTC from years back*. Tl;Dr - **There are better coins**. The problem with this conversation is that it stops being about the technology behind the coin, and that makes it difficult to speak to the Pros and Cons without talking to the other aspects, which is discouraged within the guidelines of this case study. We drift into less technical merits and more psychological aspects/money-driven reasons: people who stand to lose money in their investment/not see the coin grow further and do not want that to happen. > > > > ==*The rest of this will lean in the opposite direction of the guidelines set forth for this argument. Past this point, you're entirely in the realm of my opinion/experience as a crypto holder/trader since the early 2010s. Do your own research.*== > > > > * Litecoin gives off that MySpace feel these days. It gives off that "my grandma still has an AOL account" vibe. If you frequent the large melting pot subs for crypto, you'll find LTC is largely dismissed or bemoaned as that "red-headed stepchild of BTC". It's boring. It doesn't do much. That said, what it **does** do, it's pretty good at. Not great, but good *enough*. For some institutions and use-cases, that's perfectly fine. > > * You will consistently hear people who are in favor of LTC tell you that the age is a "feature" and that institutional money wants "stability" in their investments. While I disagree with those arguments, institutional money should be meaningless when trying to create a truly decentralized currency that anyone can use for anything, I understand where those folks are coming from. They're in this game to make money, which is what most everyone is in this game for, and likely what folks reading these arguments are looking for. > > * At the time of this writing, LTC has slipped to #15 for total market cap. I mention that because it once held the #3 spot [(#2 lost and never regained to ETH shortly after ETH arrived on-scene)](https://www.youtube.com/watch?v=1BCadb6SPNQ). It's slowly decayed from those top positions as time has gone on. That's not *inherently* a problem, as many coins far lower on the list have great use-cases and bear markets always shuffle things up. However, it creates a very serious problem: negative perception. > > * Remember what I said earlier: psychological. People don't like betting on the loser. People like to see their choices succeed, and again, at the end of the day, the vast majority of people in this space are lookin' to make some scratch. LTC is a hard sell for that. This past 2021 run, [you had a brief 7-day window](https://ycharts.com/indicators/litecoin_price) to potentially cash out your position around $350-$380. 11 days above $300. A nice 10x if you'd been betting on LTC [since it was ~$20-$30 back in 2017 or Dec 2018-Jan 2019](https://cointelegraph.com/ltc-price-index), but nothing like the gains that many other projects have seen since then (and only if you sold and didn't "hodl"). The markets have since taken a **massive** hit in late May 2021, and LTC dropped even lower ($184 as of 26 May, but crypto be like that). > > * If you google LTC, you'll see a bunch of predictions about how the coin is "bound for 10k" and it's "always a solid investment". It's actually a meme on some of the LTC-specific subreddits that LTC is always "2 weeks away" from that next big break. In my humble opinion, that break has come and gone. Those of us who put money into the coin at $3 have seen 100x on our returns. The coin has been in the media since 2017, and is one of the few coins that has been shown in major news outlets alongside BTC and ETH. This isn't **new** news though. These developments have done nothing to catapult the coin to some mythical new height that it's "destined" to reach. In stock-lingo, one could consider these developments to already be *priced in*. > > * [There's good things to say about the coin](https://beincrypto.com/litecoin-completes-mimblewimble-code-ltc-scaling-privacy/), but this isn't that sort of movie. I personally don't think those good things out-weigh the bad, and the entire thing comes full-circle to the crux of these arguments: LTC's technology is not on par with what the modern crypto-space has to offer, and LTC is not going to make money in significant amounts for the new investor compared to other projects in the space. I'd challenge someone interested in becoming a new investor in LTC to ask other holders when they entered. Good money says the vast majority are still holding from the 2017-2018 hype, just hoping for a chance to either get back to green, or maybe see some new gains. Sure, there's whales and "old money", but they're the ones with the vested interest in keeping LTC afloat. No one wants to see their nest egg dry up, and like I said, there *are* uses for the coin... I guess... [Go read the "Pro" argument section.](https://old.reddit.com/r/CryptoCurrency/comments/n5ugij/pro_contest_litecoin_proarguments/) > > * Just reading the linked articles, you can see incorrect/outdated information, price inconsistencies, hell, even the authors don't understand what "code complete" means for MWEB. Some of them [think it's already online for current use](https://anycoindirect.eu\/en/blog/mimblewimble-litecoin-s-vision-on-privacy)(it's not, as of 26 May). Cryptocurrency is volatile as HECK! > > > > **I could be 100% wrong. LTC could go to 1k this year. It could go to 10k in '24-'25. It might not. At this point though, what makes it any more likely to "moon" than other projects within the space? What does LTC offer that other coins don't already do and do better, aside from "already got an old, wrinkly leg in the door?"** *Take that as you will.* ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Litecoin) to find submissions for other topics.
#Litecoin Pro-Arguments Below is a Litecoin pro-argument written by metnavman. > *Full Disclosure* > > *I sold my position in LTC this year during the last run-up to the ~$300s. Prior to that, I'd held a triple-digit position in LTC since ~2013. I did make money from this coin. That is only because of my time in the market, and not any particular strength of the coin in question. Truth be told, I'd have made more money being in other positions, so it is irrelevant. Perhaps I'll regret it one day. Perhaps not.* > > > > * LTC is one of the "OG" coins. [As a fork of the Bitcoin protocol, it's been around almost as long.](https://www.investopedia.com/terms/l/litecoin.asp) It is a very secure coin, and utilizes [Proof of Work](https://www.investopedia.com/terms/p/proof-work.asp) through Scrypt to maintain that security. > > * This "early mover" advantage has allowed LTC to catapult into some very strong positions and use cases. I'd personally put it's [uses on the Paypal platform](https://www.paypal.com/us/smarthelp/article/what-do-i-need-to-know-about-litecoin-faq4401) as one of it's strongest positions in the current financial zeitgeist. [There are certainly lots of others.](https://www.reddit.com/r/litecoin/comments/csfixo/1100_companies_and_stores_accepting_litecoin_as/). > > * LTC is arguably the strongest PoW coin available. It is faster than BTC, cheaper to use, and available for use basically everywhere relevant that BTC is. As far as trading platforms and "on-ramps" for converting fiat currency into cryptocurrency, LTC will get you where you want to go. While it is not worth as much as BTC, it's far more capable for doing what a cryptocurrency is "supposed" to do. Ya know, be a currency that doesn't cost silly amounts of fees to use and take forever to confirm. > > * LTC's development team is currently working on implementing [Mimblewimble](https://www.mycryptopedia.com/mimblewimble-explained/) capabilities to the coin. The quick and dirty for that is adding a "privacy feature" to LTC, as well as potentially solving scalability issues that could crop up one day if usage of the coin were to exponentially increase. Development is ongoing in 2021, and viability/efficacy is not fully determined as of this writing. > > * LTC follows the same [halving](https://stormgain.com/blog/litecoin-ltc-halving) protocol as BTC. This has correlated to price increases for the coin in a similar fashion to BTC after each of these "cycles". It stands to reason that LTC should see another price increase in the 2024-2025 time-frame, coinciding with the next halving [set to occur in Q3 2023](https://litecoinblockhalf.com/). There's math and wrinkly-brain reasons for why it takes some time for the halving process to reflect in the market price. You'd have to go searching; I don't really understand it. There's a shiny graph on that link I put. Have fun. > > > > ==*The rest of this will lean in the opposite direction of the guidelines set forth for this argument. Past this point, you're entirely in the realm of my opinion/experience as a crypto holder/trader since the early 2010s. Do your own research.*== > > > > * I would stress that you proceed to [the LTC "Cons" portion of these arguments](https://old.reddit.com/r/CryptoCurrency/comments/n5vbyk/pro_contest_litecoin_conarguments/) after finishing here and read what I've written there as well. My goal is to remain as unbiased as possible for these write-ups, and I will speak only to the positives of LTC in this thread. I encourage you, the reader, to view both sides and make an educated decision before investing in *any* crypto asset. > > * LTC offers a "tried and trusted" investment platform. If there was a stock to compare LTC to, it's the massive ETF or mutual fund that people put money into year after year and reliably draw a profit from. You will not see the insane fireworks of a DOGE pump, or the rug-pull of a [BITCONNEEEEECT](https://thenextweb.com/news/bitconnect-bitcoin-scam-cryptocurrency) when you put your money into LTC. You will get an investment that "should" make you money in the long run, and potentially set you up for some really solid gains in the future. > > * LTC is not the behemoth that BTC is within the crypto space. The intimidation that comes from the price-tag that BTC sometimes wields ($37K to own one coin at the time of this writing, 60K+ attained) can be a turn-off for the smaller investor still interested in owning a "full coin". While this mindset is considered by veterans within the space to be somewhat naive and counterproductive, it is a psychological aspect that affects many projects within crypto. LTC's ability to allow someone to jump in at a much lower price point and still feel like their investment is "effective" is certainly a strength. > > * LTC has been picked up in the 2021 bull-run by [large institutional entities](https://news.bitcoin.com/grayscale-adds-174000-ltc-to-its-litecoin-holdings-price-of-the-altcoin-unresponsive/), signalling some confidence in it's ability to generate income in some fashion for shareholders/investors. It remains to be seen how this action will play out, as the events are too closely aligned with the large correction in late May 2021 before the coin could pick up steam. [It briefly touched a high-300s price-tag](https://currency.com/litecoin-price-prediction-2021), and many of LTC's supporters believe that it was aiming to go higher before the entire market dropped. > > > > LTC has carved out a solid niche for itself over the years, and a loyal base that wants to see it succeed. As with any investment into a volatile market like crypto, there's a good chance you could lose some money. That said, I would put the chances of it happening with LTC over the long run at a smaller percentage than some of the more risky or "unreliable" projects in the space. If you have patience and are looking for a low-stress coin with some realistic use cases and a good track record for ease-of-use and operability within the crypto-world, LTC may be the coin for you! ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Litecoin) to find submissions for other topics.
I remember LTC shills were all over cc/sub at the start of this year talking about the ‘halving’ and how it was going to pump LTC. Turns out it would have literally been the worst performer if you followed the advice - the curse of r/cc strikes again !