The LTC volume numbers are a bit baffling. Who the hell is buying LTC, let alone that much?
It's the same volume being switched back and forth on exchanges.
Correct, to ensure the ASIC manufacturers don't get left with a lot of expensive paperweights.
12 months or so ago, when I joined crypto, something didn't feel right. We had all these people mining Crypto currencies but hardly any people using them. Deep down inside I always felt this consolidation was around the corner.
Now I'm getting the same feeling with LTC. We've got all this "volume" but who seriously is excited about LTC anymore? Who actually uses it to buy something? Is anyone other than people trying to get ROI on their ASIC purchases actually mining it anymore?
Whilst a few years ago Litecoin served a purpose, I think now with all the competition in the market it's generally accepted you can't change 1 line of code and come up with a new coin anymore...
Is the first mover advantage enough to ensure LTC survives? I don't think so, there is no clear reason for people to use LTC over BTC...
Let's see how long this post lasts before it get's deleted by our LTC loving mods?
