Is this the coin that will make Jow Forums rich? About 80% of us are holding LTC right now

Is this the coin that will make Jow Forums rich? About 80% of us are holding LTC right now.

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fuck off. biz doesn't need ltc, and that is a buu shit number.

FUCK OFF Clif!

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>About 80% of us are holding LTC right now
[citation needed][source?]

it should be is LINK going to biz rich, 80% are holding it right now.

The most accurate statement in this thread

It's not about being rich. It's about being comfy. And right now LTC is a comfy hold at a comfy price. I'm 95% BTC/5% LTC and loving it.

What problem does Litecoin solve? What niche does it fill? What aspect of it means that is solves this problem or fills this niche better than its competitors?

Bitcoin is powerful because it gained collective trust by investors as the primary store of value cryptoasset. It was helped in this regard by first mover advantage, but has remained this way specifically because it has shown itself to be resistant to reactionary governance which would have it altered from its original form. It is stable in its utility and trusted enough for people to invest millions. Its code is both transparent and rarely changed in a major way. You know what you are getting and you know what the coin will look like in 10 years.

Litecoin does not have the collective trust of the investor base to do what Bitcoin does, which is to provide this store of value. None of its features such as Scrypt mining and faster block times actually do better than what Bitcoin does. Faster block times do not make it any more trusted by the investor base since they couldn't give a shit. When you're playing with $50 million in Bitcoin wealth, you could not give half a shit about a fee of $100 to move your money. This is how you protect your wealth from inflation, not how you buy a cup of coffee.

Litecoin fundamentally does not show itself to be a worthy store of value. And there will only be one main-chain* store of value that people coalesce around, since everyone only wants what other people want. So why does litecoin exist? It can't transact faster than BCH, and it's not trusted enough to store value. So it's fucking meaningless. A collector's coin.

* Note that assets within the same chain (ERC20 tokens all on Ethereum, for example) are easy to atomic swap, causing some relative friction between transacting these tokens into Bitcoin. For this reason, it may be possible to sustain a somewhat highly valued Store of Value token secondary to BTC as long as the secondary blockchain it utilizes continues to contain equity-like wealth such as in tokens. The first prominent example of this that we have is 0xBitcoin, which provides a well-positioned future claim to Store of Value status on Ethereum once people decide that Ether is too inflationary, centralized through ICO, and too unfairly distributed (once Ethereum goes Proof of Stake). Since it is cheaper, faster, and safer on a decentralized exchange to turn your tokens (eg BAT, GNT, and ZRX) into 0xBitcoin than it would be to turn them into Bitcoin, there will likely be a demand for an inter-Ethereum currency that works easily with atomic swaps.

Everybody on Jow Forums attacks charlie lee for dumping at the top then they proceed to speculate on even more worthless shitcoins so they can dump at the top too. Simply by being a clone of bitcoin, Litecoin is more valuable than 99% of shitcoins

> Simply by being a clone of bitcoin, Litecoin is more valuable than 99% of shitcoins

But in what situation would someone prefer to sell their tokens into LTC as opposed to BTC? At least 0xBTC is useful in that sense because it is compatible with all Ethereum smart contracts and can be traded through decentralized atomic swaps. If you're putting wealth into crypto in general, it is as easy to put it into BTC as it is into LTC, making LTC pretty worthless.

Eventually bitcoin is going to be used as a store of wealth for the elite and the transaction fees will keep the plebs and riffraff out, so people will use litecoin instead

So you agree that BTC is the better investment that will see substantially more money being put into it, offering higher rate of return.

Also, why would the plebs use LTC instead of any of the alternatives that are objectively better for that purpose, such as BCH, ZCash, 0xBTC, etc.? All of those are faster and cheaper than LTC as far as I understand.

lol the same dumb nigger who knows jack shit about supply and demand. shilling 0xbtc mind as well shill bitcoinhex. reading you shit argument makes everyone here less smart.

Care to explain then why my analysis of cryptoasset value is flawed? I understand supply and demand, and I just don't see why demand would exist for a coin that is neither the best store of value nor the best currency for daily use.

Moving money/tokens around. If i want to purchase some random shit token on some 3rd world exchange i sell into LTC, transfer to the exchange (because they all accept LTC), then back to BTC to purchase what i want.

If anything i wish there were more LTC pairings.

Most normies have already heard of Litecoin so in the short/medium term it should outperform all those you mentioned. Also, there's too much animosity from core cultists for BCH to succeed any time soon. Longer term you might be right.

I bought 50LTC at 160. Holding stronk.

Litecoin has been around for around 10 years. Most shitcoins do not stand this test of time. It has 10% stake in some europe bank. It has litecoin foundation. It has a lot of upside, and not a lot of downside from a TA standpoint. Once BTC confirms its next big move, you will see all top 10 altcoins make even bigger moves to respond to the BTC dominance weve seen here in July. This always happens in previous altcoin seasons and BTC bull runs. Market cap and normie adoption is more important in this short term compared to muh fundamentals muh chainlink etc etc etc

Sure, I understand why that would make LTC valuable. What I don't understand is why people would use LTC for what you just described instead of an alternative. BCH is cheaper and essentially as fast, as well as being essentially as widely accepted, if not moreso. ZCash is faster, cheaper, and offers privacy, again making it a better option than LTC. 0xBTC is better for what you just described when it comes to Ethereum based assets because it can be used without centralized exchange. So why do you think LTC will be used in this manner?

Keep in mind that what you just described, turning BTC into LTC, moving LTC, then back into BTC makes LTC a utility token not a currency token. Utility tokens can be defined by economic models such as:

MV=PT

Where: M= money supply, V= velocity of money, P= average price level of goods, T= index of expenditures (such as the total number of economic transactions). If you end up doing the math for this, with Litecoin's current usage stats, it amounts to sub $100 mil market cap. Everything on top of that is either speculative or stored wealth. I'm arguing both of those values will fade as Litecoin proves itself to be un-ideal for both; this will lead to a loss of value in LTC.

anyone who bought ltc over $10 is a sap

bitcoin is slow as fuck

it takes like 30 minutes to an hour for a transaction where as litecoin takes less than 5 minutes

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the difference is minor. I've had ltc transactions take forever and some quick btc ones before. If there is no major difference, people will use the safer and more accepted btc.

I think you're missing the point of my comment: The reason BTC has value is because it is trusted, widespread, and people have faith that if they put money into BTC, they will have at least as much or more in 5 years. That is called being a Store of Value. It doesn't matter that it takes an hour to transact, because for the purpose BTC has grown to fill, an hour to transact is perfectly acceptable and worth it for the extra trust.

The safety of Bitcoin is marginal over Litecoin. Both networks would never be compromised because of how expensive it is at this point, but Bitcoin has been spammed before to slow down the network.

The difference is Litecoin is way faster and you're a fucking liar if you say otherwise.

>It doesn't matter that it takes an hour to transact, because for the purpose BTC has grown to fill, an hour to transact is perfectly acceptable and worth it for the extra trust.

Yeah, that's why Lightning Network is being developed to conduct off-chain settlements, right? People want fast transactions.

Bitcoin needs to scale to become a form of payment, and there is no way the current system can work.

> The safety of Bitcoin is marginal over Litecoin.
Agreed, insofar as we're talking about 51% resistance. What I'm talking about is moreso trust in the coin to still have investors' trust in a decade. It makes no logical sense to have two competing Store of Value coins that have no serious differentiating factor.

> People want fast transactions
> Bitcoin needs to scale to become a form of payment, and there is no way the current system can work.
People wan't fast transactions for day to day payments, sure, but then why not use BCH or 0xBTC, both faster for this purpose? BCH clearly is as widespread in adoption as LTC, if not moreso, why so would LTC become this highly demanded currency?

>About 80% of us are holding LTC right now.

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I'll buy LTC when this shit hits $77 not before, not after.

a sudden BTC dump could easily push it to $50. That's my target buy in price.

20 LTC reporting, how much to be comfy?

Bitcoin Cash and 0x have not been around for 6 years. That's the difference. Literally the same as your argument about why people trust Bitcoin.

Bitcoin would have to dump to around $4000-5000 for that to happen

user here from other post; on phone now.

I guess I just don't find that particular factor compelling when we're talking about a quick payment token, only for a real store of value. We can't delude ourselves to think that litecoin (or BCH for that matter) are suitable for global adoption for payments. Second layer tech is the only way there will be near unlimited transaction capacity, and litecoin (and BCH for that matter) are behind the game while BTC and 0xBTC are ahead due to lighting and sharding/plasma, respectively. We're far and away from global payment adoption, and whatever we end up using needs off chain settlement. Litecoin just doesn't seem to have lasting power as the "cup of coffee" currency, and as I've argued previously, I don't think it has lasting power as a digital store of value either. The market is a brutal place, you don't get money thrown at you just because it's "vintage". That "vintage" status has to help you reach a purpose, which BTC has achieved but LTC hasn't.

Not impossible at all. To be fair it lingered at 6 grand for a solid month.

Nano is a better currency coin than litecoin in every way.

Redpill: it takes 2 seconds to transfer Nano and the transaction is entirely free of charge. Why wwould you hold Litecoin instead of Nano ?

>chink scamcoin

> Why wwould you ~~hold~~ Litecoin instead of Nano ?
Emphasis mine. Therein lies your answer. Nano works faster and I'd use it maybe for a transfer, but I'd never HOLD it, since I'm not confident that in 5-10 years Nano will still even exist on anyone's radar. I am, however, confident that BTC will.

it fills the boomer niche

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Damn. I was about to refute your argument, until I saw last years total crypto marketcap (Forgot how much it shot up in such a short span). It was hovering under 100 bill this time last year. It would only take about a 150 bill market cap for BTC to reach $4k, assuming 50% dominance.

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Looking back at past records, if we are headed the same trajectory as we did back in 2014. Then we will see a further dump the later half of this year. Possibly even reaching to 3-4k. This "bullrun" is short lived and will should start dying out by aug - sep. This is ofc assuming the market follows the same pattern.

When moon, sir?

>buying a coin which the main dev sold at ATH

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Litecoin ? Charlie Lee is a chink, absolutely, and it's a scam, yeah. Lee sold every coin he had.

I dont want to sound like I'm defending that chink, but he was totally right to do so. He can gain more money than ever before now...he can never be pinned for insider trading, he can always play the "Decentralized" card, and now any money he makes will never be tied to the Crypto market swings. Its genius on a level you idiots can imagine....its like zuckerberg not taking a salary from his business and being paid in stock and living off the dividends. I have a business and I live off of it...but I pay 0 in taxes. The business owns my house, I pay for all my necessities thru it, and any money that comes in it gets to hold. I always have 0 income on my tax returns and can get food stamps and welfare from the govt.

and I use the money I get to invest in crypto. There is always a way to make sure you dont have to pay and get rich. This chink found made a throne for himself on printing his own money. I admire this shit head in every way. That being said people will still believe in LTC not for the tech but because it has a history, and people love repeating the same line "Silver to BTC gold". Its like glue in a persons mind...if you keep saying something long enough the brain thinks its true. LTC will be around for a long god damn time....whether it deserves it or not.

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2020

Go away, Roger. BCASH BCASH BCASH BCASH

Actually I think BCH is an utter shitcoin and I actively have an effective short on the ratio of BCH/BTC but thanks for the idiocy. 0xBitcoin is the only Bitcoin competitor that has any chance at long term value due to the fact that it's easily programmable and tradable through atomic swaps on all of Ethereum.

STFU chink!

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At one point LTC was a decent hold last year but I don't think it is too great right now, goodluck with that.