Brief thoughts about Litecoin and its Foundation
There are only 4 cryptocurrency projects more valuable than EOS, with Litecoin having a very similar market cap currently in 6th place as the most valuable crypto project. Right now, the project is worth around $5,876,965,387 and each Litecoin is worth around 95$, although huge changes in prices are currently going on...
Litecoin is one of the oldest projects in the entire crypto industry, it was launched in 2011 and has been active since then. Its main objective has always been to serve as an alternative to Bitcoin and stop a potential monopoly. It is clear that today, due to the proliferation of so many different cryptocurrencies, the idea of a monopoly seems very unlikely, but at the beginning of the decade, it was probably considered as a much more feasible risk.
What is Litecoin Foundation?
This is a nonprofit organization that seeks to facilitate the development of new digital platforms through Litecoin's blockchain, and offer a new option to transfer value in a very easy way and without any complications.
It is known that cryptocurrencies can facilitate access to foreign currency to people living in undeveloped countries, and this may well promote the development of economic activities in such places. It is no coincidence that in Venezuela, a country that has a collapsed economy, there are many people who use this type of currency for their daily activities.
This is my English translation of a segment from one of my previous Spanish articles.
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Litecoin seems to be setting itself up for great things.
As adoption happens.
As flight from fiat happens (hyperinflation, dollar crash...)
Bitcoin will be worth millions.
A satoshi will be a dollar.
Transaction fees will be huge for the average person (not buying a car or a house)
And Litecoin will be there, with payment processing and businesses already set up to accept it.
Litecoin, i feel, will be the right coin at the right time for real world use.
A steel at $90.
McAfee has been saying the same for a while, that Bitcoin will hit 1 million next year. That seems unlikely but if that happens I would be extremely happy.
The only thing that will stop bitcoin from hitting one million is bitcoin hitting a billion, because the dollar is hyperinflating.
Bitcoin hitting one million here shortly is inevitable.
It comes with adoption.
So, bitcoin not hitting one million means something has gone very wrong in the world
The dollar has a normal 2% inflation. Hyperinflation is what has been happening in Venezuela. But I see the point that the only requirement for Bitcoin to reach 1M is enough inflation in the developed world.
It still seems like a far fetched possibility, but I guess it is not impossible.