2016: Write roadmap & whitepaper
2017: Hype creation
2018: Cashing out and the great disappearance
This is how Litecoin was described in their own subreddit. Even funnier was the comment right above it that says Litecoin’s roadmap is literally non-existent because they forgot to renew their domain subscription.
And that depicts the state of Litecoin the best. It is a project that has little going on for it, hovering around scanty $25 per coin.
Brian threatened to add new coins to light a fire under Core to scale bitcoin. He only planned to add ETH. But Charlie was working at Coinbase and got LTC added too. Then we had a bull run where millions of uninformed people swarmed into crypto and saw LTC on Coinbase. That’s literally the only reason this coin is still even on the map.
Litecoin does nothing to contribute any value to the cryptocurrency world. This is directly from the mouth of litecoin holders and insiders:
Here is the link to the full explanation.
When you read this, the first thought that comes to mind is do we really need a $1.8 billion testbed for bitcoin? Where is the value that litecoin brings to the table. It is ok to take parts of other people’s code when it is open source, it is a common practice among developers. But to simply sit and wait for other people to do the work and just port it onto LTC is paragon of parasitism.
Here is another very detailed essay on Litecoin by Multicoin Capital, they too see no real purpose for LTC’s existence.
There is also a lot of talk in the community about lack of activity on LTC Github but those worries have been somewhat alleviated with a plausible explanation that the developers don’t work on the master branch. They commit code when they’re finished working on them in their own branches and submit pull requests to the main repository. It’s considered a good Dev practice.
Charlie Lee pops out occasionally with some light comments, no firm and in-depth explanations what are they up to, but rather some spirit lifting buzzwords about bears, bulls, patience and so on. Litecoin is pointless and just like it lead the ascend of the questionable altcoins back in the bull-mania, it will slowly lead the way to the graveyard for those same altcoins.