Being dubbed the silver to Bitcoin’s gold, Litecoin was introduced in 2011 as a quick fix that was supposed to solve some problems typical of Bitcoin. With new projects flooding the market in the recent years, Litecoin’s role seems to be thing of a past – LTC is the odd man out and nobody can bring about a solid argumentation for Litecoin’s purpose in the future. And the reason I think Litecoin is dead is not because of its price – it dropped together with the whole market and not by its own fault. The reason is lack of unique value proposition – it is just blunt copy of bitcoin with couple of parameters changed.
It was that back in 2011 and it is that still in 2018. This lack of vision and will for separation from bitcoin and creation of your own niche will cost Litecoin its existence.
Litecoin can do everything Bitcoin can and it is often called a testnet for bitcoin. But who needs a multi-billion testnet – who needs two identical projects as one is enough and this is a winner takes all battle.
Litecoin depends on Bitcoin. This is not just a hypothesis, this was Charlie’s vision from the project’s inception.
LTC enjoyed the treatment as a bitcoin’s little brother – technology was similar so exchanges and wallets could easily integrate it where ever they integrated bitcoin. This gave it exposure and liquidity which drove its price up especially as many would use it for faster transactions between exchanges or wallets as it had faster transaction time than bitcoin. In the meantime, there are many other coins that can be used for this purpose that are even faster and cheaper, almost free (Nano for example).
With Coinbase and other exchanges adding new projects, the top 10 market caps being dominated by some very diverse and colorful coins and a general lack of media attention and focus on Litecoin unless it makes some significant price movement, I’m not sure what would motivate new comers do the research necessary to learn about Litecoin’s potential.
So if Litecoin’s utility as a micro-payment solution is now in question, where does it stand? I suppose it could be the “silver” to Bitcoin’s “gold”, but if Bitcoins are (basically) infinitely divisible and act as a good store of value, then what does Litecoin do?
As Bitcoin network keeps being optimized and upgraded with new innovations like Lightning Network, use cases of Litecoin will disappear and so will its reason to exist.
Litecoin doesn’t have the name recognition that Bitcoin has. It does have a fantastic advantage to make improvements to itself much faster than Bitcoin does, but with the rise of so many other projects that have base codes that are already more fit for micro-transactions and scaling, has Litecoin missed the train? I would say yes.
LTC will continue to drop as investors move towards projects that are more realistic in their goals. If anyone replaces fiat, it is going to be bitcoin and not litecoin. Litecoin’s boon and curse has been its mirroring of bitcoin – they enjoyed the ride in the past but with every market contraction, we will lose projects that have no reason to exist, like Litecoin.
Is it just me or is the fact that litecoin is almost identical to bitcoin the reason I love it so much. Litecoin slashing fees. So cheap, so secure.
Also agree. Especially when you think about the amount of BTC that is supposedly lost (4 Million), nearly 20% of all that will ever be created.
In my view there isn’t enough BTC out there to support the demand.
I agree, LTC is probably the most undervalued coin in the market.I see LTC taking 2nd or 3rd place in the near future.
I agree Garrett
This article was written from a person at Ripple, XRP. Ripple is a completely centralized token, all tokend have been “mine”, but not reslly, just computer generated… There are 100 billlion XRP, 60% are owned by one person and controlled by a bank… The XRP Ripple coin is known as the “bankers coin” and will sink if the USD ever takes a dive. Thete is no real reason to have a centralized bankers coin in a decenteralized market, other than for thr Rothschild Centeral Banking System to have full control over it’s movements… that’s all. The only other coin equal to XRP as far as ut being useless is B-Cash.. it’s a total scam coin.
Litecoin is better than Bitcoin in every way. It’s implementing new features and is listed on 90 % off all exchanges, easy to liquidate and much faster than Bitcoin. Most bitcoins are owned by just a few people. Litecoin is for the people, by the people. Biggest advantage is that Litecoin has a decision maker in the form of Charlie Lee. Bitcoin will split many more times because of non-concencus. LTC will soon take over BTC, as it is just a better technology. See it as BTC 2.0. BTC is Myspace, and LTC is Facebook.
Are you trying to promote bitcoin by killing litecoin, hahahahaha
Litecoin is developing, and still do by a formal CEO google i stay with it till it dies.
No information at all here. Just a hater.
Litecoin will remain relevant for as long as there are alternative coins, which is a certainty. Bitcoin will never be the one and only cryptocurrency so there’s definitely a lot of potential for Litecoin and there’s a lot of advantages compared to Bitcoin if you do your research. Litecoin is not going away anytime sooner than other coins. I feel like this guy has an alternative agenda and is biased.
Litecoin will remain relevant for as long as there are alternative coins, which is a certainty. Bitcoin will never be the one and only cryptocurrency so there’s definitely a lot of potential for Litecoin and there’s a lot of advantages compared to Bitcoin if you do your research. Litecoin is not going away anytime sooner than other coins. I feel like this guy has an alternative agenda and is biased. To quote the disclaimer: “CaptainAltcoin’s writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner.”
Price of BTC $6400 Same amount, the same time last year as right now.
Price of LTC $53 Same amount, the same time last year as right now.
REMOVE THIS UTTER NONSENSE ARTICLE.
A store of value? Do you even know what you are talking about….?
That is exactly what crypto is NOT.
Fail. Your new should be cadet-altcoin.
Next thing you will be telling people to invest in something that is not an investment – wait….never mind. smh.
Time to rub off that self-anointment – you are no expert.
You know what’s a blunt copy? This article and the bullets that have already been addressed over and over. Litecoin is leading the pack in adoption and have a proven history for over 7 years. It’s not going anywhere.
Not here to argue with facts because I’m feeling lazy right now. This is a dumb article and everyone is now dumber for having read it!