In this post I'm going to share my view on Litecoin's near-term future
Now that Bitcoin seems to have retired from its position as a major speculative driver in the cryptocurrency market with likely more real value coming into play thereby further cementing current prices in their tight range, Litecoin looks like the best candidate for the next generation cryptocurrency speculative vehicle. The recent price action seems to confirm my assumption, and if I'm correct, we should see more and more speculative money get poured into this coin. So if you are looking to multiply your balance via riding volatility, it may be worth to start paying closer attention to Litecoin now (if you haven't already)
Topic: On Litecoin - page 2. (Read 228 times)
Well, this topic is not just about Litecoin but about all major altcoins that are not considered shitcoins (though opinions vary). As I'm mostly familiar with Litecoin, I will use this coin as a "deputy" for all respectable altcoins out there
There is an opinion that even well-established altcoins are in fact well-disguised shitcoins which should die a painful and possibly slow death, with the message being that Bitcoin alone will suffice as the only cryptocurrency ever required for whatever needs may arise ("there can be only one"). But this is an erroneous and in fact quite damaging assumption, a maximalist's view of sorts, and here I'm going to explain why exactly
It is common knowledge that for Bitcoin to succeed big time, it should become a universal means of payment. Personally, I'm not certain whether we will ever live up to that day. But it doesn't mean that Bitcoin will be useless and worthless if we won't. On the contrary, it may become so dear and useful that nobody will be using it as a means of payment. I know it is a bit counterintuitive, and this is where altcoins, such as Litecoin, enter the scene
Actually, if we ever live up to the day when Bitcoin becomes a highly valuable asset (e.g. a store of value like gold), its use as a means of payment for daily necessities will be very limited, if not to say downright negligible. But this is not the case with altcoins, so there is a good chance (even an inevitability of sorts) that it is altcoins that will act as Bitcoin's proxies for actually being used in the daily exchange of simple things (like groceries, haircut, and whatnot)
And Litecoin is likely the best proxy out there with this purpose in mind
There is an opinion that even well-established altcoins are in fact well-disguised shitcoins which should die a painful and possibly slow death, with the message being that Bitcoin alone will suffice as the only cryptocurrency ever required for whatever needs may arise ("there can be only one"). But this is an erroneous and in fact quite damaging assumption, a maximalist's view of sorts, and here I'm going to explain why exactly
It is common knowledge that for Bitcoin to succeed big time, it should become a universal means of payment. Personally, I'm not certain whether we will ever live up to that day. But it doesn't mean that Bitcoin will be useless and worthless if we won't. On the contrary, it may become so dear and useful that nobody will be using it as a means of payment. I know it is a bit counterintuitive, and this is where altcoins, such as Litecoin, enter the scene
Actually, if we ever live up to the day when Bitcoin becomes a highly valuable asset (e.g. a store of value like gold), its use as a means of payment for daily necessities will be very limited, if not to say downright negligible. But this is not the case with altcoins, so there is a good chance (even an inevitability of sorts) that it is altcoins that will act as Bitcoin's proxies for actually being used in the daily exchange of simple things (like groceries, haircut, and whatnot)
And Litecoin is likely the best proxy out there with this purpose in mind
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