Topic: State of Litecoin (Read 283 times)

I think it can still fill that role, but as others have pointed out its development and such is kind of at a halt.

Litecoin was created as an alternative for Bitcoin, but it doesn't seem to be owning up to that. It's faster than Bitcoin when it comes to transactions, but despite that, people still prefer to make use of bitcoin and Ethereum when they are making transactions. I don't know for you guys, but Bitcoin and Ethereum have been at the top for people in this community, mostly Bitcoin and I hardly see people that make use of Ethereum not to talk of any other altcoin.

Litecoin is still good, it is true that nothing much been happening for it, but it's the third most popular coin on Coinbase which shows that people still have hope in it. I believe people will keep on investing with litecoin as well for diversification reason at least. So, litecoin will stay with us forever for sure.

Litecoin had its position in a times when Bitcoin´s network was overloaded or as a "testnet" for Bitcoin. But lets think about the future, why you would use Litecoin when Bitcoin has Lightning Network? 

The same as me. As long as it's still a good coin and there's high liquidity on it, we can't stop people to buy Litecoin and it will always be the way it is whether CL is gone or is still there. Btw, Litecoin's up as of this time.

Well, I quite agree with you. With no new commits and community getting smaller and smaller I don't think LTC is going to last very long in the top 10 positions.

Then the graph explains itself the performance of litecoin since last year. It is being left behind now, though I can still this coin using by some gambling sites. But this graph showed investors lost interest on this coin already. Few months, I had some litecoins but decided to sell those already as I can't see any improvements at all.

That also applies to bitcoin, the cryptocurrency is only about mere speculation, if the speculation disappears then I'm sure the price of bitcoin can be like the price of LTC now.
I think the variation of coins is very good, making us have many choices.

this is actually what I am afraid of litecoin. if they will still have a future or not as the development is already nowhere. I have read that there is really no development going on now with litecoin. so if the rumours are true, better not to hold ltc for long term as it may crumble anytime.

Be careful in believing below forecast. I don't think he has the solid basis of giving such forecasts.

 

If you copy the bitcoin and make some changes and released as a silver coin for fun and if Charlie was able to make millions and he wanted to cash out those millions who is to be blamed. The people who trusted and thought it would be great to have a coin with higher number of coins but exactly the replica of bitcoin with minor changes and call it silver .

Can you send me a link for where youre getting this data from?

I actually haven't seen that before. That is eye-opening and shocking. Damn.

I feel similarly. As others have pointed out the lack of a clear roadmap is a bit disheartening. Otherwise I've always liked what it brought to the table

I agree, i've been a bit worried about that down trend but I always find a way to play it off. 

Same goes for the fact that Charlie sold his holdings, although we know that dilutes the market I think it can be partially good because we know it means that his actions are no longer about him turning a profit.

To be honest, i think litecoin has remained too stagnant over the course of the years, it was supposed to be the direct substitute for bitcoin, but it has not improved standards; it is still regarded as an alternatives to bitcoin; but it has not been overly convincing to say the least.

Litecoin hasn't really seen any major developments in recent years. In fact, I'm not quite sure why it's still a top 10 cryptocurrency.

Sure, it's cheap to use and transactions confirm fast.... But isn't that most cryptocurrencies nowadays? I mean, you can send DASH and have it confirm practically instantly for almost free, why isn't that worth more than Litecoin?

The answer is, because Litecoin was one of the first and it still has a popular mining community.

Looking at the Litecoin Github, there really hasn't been many changes over the last two years: https://github.com/litecoin-project/litecoin

This is roughly when Charlie Lee sold out, so maybe it's on its final build and won't be getting any better any time soon.

Forecasts are unfortunately not the best:

LTC to USD forecasts for November 2020
At an initial price of $ 48.17. Maximum price USD 48.17, minimum price USD 38.30. Average for the month USD 43.96. Litecoin price forecast at the end of the month USD 41.18, change to November -14.5%.

Litecoin price forecast for December 2020
Initial price $ 41.18. Maximum price USD 51.11, minimum price USD 41.18. Average for the month USD 45.31. Litecoin price forecast at the end of the month USD 47.77, a change of 16.0% in December.

LTC to USD forecasts for January 2021
Starting price is 47.77 USD. Maximum price USD 47.77, minimum price USD 38.96. Average for the month USD 44.10. Litecoin price forecast at the end of the month USD 41.89, change to January -12.3%.

Litecoin price forecast for February 2021.
Initially, the price is $ 41.89. Maximum price USD 41.89, minimum price USD 32.73. Average for the month is USD 37.93. Litecoin price forecast at the end of the month USD 35.19, change to February -16.0%.

LTC to USD forecasts for March 2021
At an initial price of $ 35.19. Maximum price USD 39.15, minimum price USD 34.03. Average for the month USD 36.24. Litecoin price forecast at the end of the month USD 36.59, change to 4.0% in March.

Litecoin price forecast for April 2021
Initially, the price is $ 36.59. Maximum price USD 36.59, minimum price USD 29.69. Average for the month USD 33.70. Litecoin price forecast at the end of the month USD 31.93, change to April -12.7%.

LTC to USD forecasts for May 2021
At the beginning the price is 31.93 USD. Maximum price USD 31.93, minimum price USD 24.94. Average for the month USD 28.91. Litecoin price forecast at the end of the month USD 26.82, change to May -16.0%.

Litecoin price forecast for June 2021
Initial price is $ 26.82. Maximum price USD 26.82, minimum price USD 20.95. Average for the month is $ 24.28. Litecoin price forecast at the end of the month USD 22.53, change to June -16.0%.

You do not have to hate litecoin to hate the team behind it right now and the path they are taking it to. Look at Charlie Lee dude sold out at the peak so that he could cash out on the biggest possible moment he can but still says that he is trying to make it as well as possible for the litecoin community. He even had talks about how there should be fee's on transactions that went straight to him, I mean not straight to him but it is still basically to him to say the very least because the team is his team.

I do not believe that Charlie cares about litecoin at all, he cares that he is at the top of a currency, a currency that was created and presented to the public but somehow he became the project owner like some ICO was done, and now he wants to keep his millions he made from selling but also wants to recover all the litecoins he sold as well.

Everyone is free to choose their favorite coins for short-term and long-term investments, and speaking of quality, Litecoin has good prospects for long-term investment because Litecoin is included in one of the top coins.

This image clearly answers the state of Litecoin. If you are wonder what this image is, It's a graph that represents number of commits in litecoin's git at github https://github.com/litecoin-project/litecoin/graphs/contributors

The coins looks effectively dead from early 2019. Though there are a few commits and a small number of contributors working, the litecoin project has lost it's community.

Litecoin is pretty much done honestly. It's a sinking ship definitely wouldn't recommend investing in it or anything like that at all.