Topic: Litecoin as Digital Silver — What Does the Community Think (Read 25 times)

I am prejudiced against LiTeCoin because of its callous disregard for the existing communities of people who originated scrypt mining (TeneBriX) albeit with a "pre-mine" and then offered a no-premine one (FairBriX) for those who were very much against pre-mines.

Nowadays all the ICOs etc feature pre-mines, not having one would maybe be thought weird and even threatening to the longevity of the coin due to potential inability of developers to take time off other work to keep on supporting and developing the coin, but back then they were a major no-no.

But also the whole thing of totally trashing everyone who had already worked on and supported and invested so far into scrypt coin development was just nasty.

I0Coin maybe couldn't well fork off existing (TeneBriX) blockchain so existing investors could continue to enjoy their investment into scrypt because the pre-mine was right at the very start of the blockchain; but certainly LiTeCoin could have forked from FairBriX instead of just doing what all the shitcoins still do which is copy an existing idea and simply market the predecessors to death with larger marketing power (launcher of LiTeCoin had a job granting more exposure and even "authority" than preceding scrypt coin's launchers.)

I still use both TeneBriX and FairBriX largely because they were the first and second scrypt coins, it is too bad that someday I am probably going to end up having to use LiTeCoin for something and possibly, if a recent post on LiTeCoin's ANNounce thread is true, also unfortunate for me that I used AtomicWallet to come up with a LiTeCoin address for some marketing sites to pay my commissions to (I chose LiTeCoin to receive them in due to it was that or higher fee systems or even mostly weird payment systems that maybe don't even work in Canada etc).

I don't really know yet whether LiTeCoin is going to stand out as most useful among a bunch of coins AtomicWallet offers, some of the marketing sites use TRON, BNB, ADA, SOLana, or DOGE.

So I guess I will over time find which of those ends up piling up more commissions or in other ways being more useful.

I have no reason to "invest" in any of them, LiTeCoin included.


-MarkM-

EDIT: Bear in mind though to me "investing" implies "supporting" my investment; if I have no use for it I don't have enough funds to waste supporting it while I have so many things I actually use to support.

Thank you for your comment! Your perspective on mining and the distribution of computational resources is very interesting. You’ve touched on an important point: using SHA-256d and merged mining can be valuable for efficiency. However, I’m not a miner myself but rather a long-term investor, and I’m more interested in evaluating projects through their reliability, real-world use, and market position.

Litecoin stands out to me as 'digital silver,' complementing Bitcoin. Its autonomy thanks to the scrypt algorithm, fast transaction speed, and long history (over 14 years) make it one of the most proven altcoins.

From your perspective, how would you assess Litecoin’s long-term value from an investment standpoint rather than a mining one? Do you think its position as 'digital silver' could strengthen as Bitcoin’s price rises, making it less accessible to smaller investors?

Even if people don't realize, Litecoin is indeed the Digital Silver.
It is one of the widely accepted coins on casinos, exchanges and other digital services. It has one of the cheapest transaction fees. There are no wild variations in price or fees like many other coins.
I don't hold or invest on Litecoin but its my preferred coin to transact between casinos, exchanges and services. I always have some amount in Litecoin ready to be spent on.

It might depend on which you consider more secure:

To divert capital, attention, etc from SHA256d miners toward scrypt miners (global share of total SHA256d less than it could be)...

Or to focus on SHA256d and re-use the same hashing power you use for bitcoin to also merged-mine other coins right alongside bitcoin, getting more precious metals at once for your hashes as it were.

If you are of the latter camp, maybe I0Coin's faster blocks would suit a desire for more speed (quicksilver?), DeVCoin's massive number of very cheap coins (copper?) suit folks seeking low fees and IXCoin's curious feature of having a donation pool one can donate to if one thinks having no block-rewards anymore (its halving topped out long ago) is a problem might position it as some kind of curious but nonetheless precious metal... UNObtainium presumably being some element scientists haven't managed to isolate yet thus maybe don't even know whether it is or is not a metal.

I think maybe SYScoin can be merged-mined too? Not sure, nor whether if so its chain identifier doesn't collide with one of the others.


-MarkM-

Hello everyone! 👋

I’ve been closely following the cryptocurrency market for a long time, and as a Bitcoin maximalist, I primarily invest only in BTC. However, from time to time, I think about the role of other cryptocurrencies, especially those that position themselves as complementary to Bitcoin rather than competing with it.

I have a few questions for the BitcoinTalk community about Litecoin (LTC):

1. How is Litecoin perceived today? Is it still considered "digital silver," or has it lost that position?
2. Do you believe that Litecoin has long-term potential as a complement to Bitcoin for fast and cheap transactions? Or has its role become outdated due to newer technologies like the Lightning Network?
3. Is there a possibility that in the future, when BTC becomes "too expensive," attention will shift to LTC as a more affordable alternative?
4. How active is the Litecoin community and its developers today? Are you following updates like MimbleWimble?

I’m eager to hear different perspectives, especially from those who’ve been in the crypto space for a while. Maybe some of you have been closely studying this project or have solid arguments "for" or "against" its future.

Thank you in advance for your thoughts and opinions!