LTC for the win?steemCreated with Sketch.

in #cryptocurrencies5 years ago (edited)

I'm looking at the markets today wondering just like you, what is the reason for this particular pump. Of course, I'm not complaining, I'm just looking for answers since I'm human after all. However there is only one thing I can find that might be the answer, but then again like always, it's just my speculation.


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Maybe the newer crypto enthusiasts are not aware of this, maybe they are, but there was a time when BTC was for all practical purposes truly anonymous. Of course, it was because the on/off ramps for fiat where close to nonexistent, and such a small technology in the fringe of the fringe, required little to no attention from regulation agencies. These days however, all BTC can be traced quite effectively, more so if you are using the common methods to "cash out" so to speak.

This of course is both a good thing and arguably a bad thing. For one, there is absolutely no way the technology will go mainstream without legislative clarity, and no amount of anarchist philosophy will ever change that on its own. Yes, I'm one of those guys who believes governments are not going anywhere, even though the notion does really tickle my cerebral cortex. I only say it's bad, because the idea of having untraceable money, sound money that a government can't censor is very much tied to the idea of privacy and anonymity, and thinking how these two concepts reconcile is not an easy task.

Ok, but what about LTC?

I promise, I'm getting there. But before I present to you the hypothesis, let me just point out a couple of things that are still said about Litecoin. If you or I personally agree with this, might not be too relevant, as long as the masses hold these views.

  • LTC, the silver to BTC
  • LTC is the testnet to BTC

This second point is somewhat controversial, to some even insulting, but it does seem to be true, since a lot of technologies that Bitcoin has today were first implemented in Litecoin with the intention of moving them to king crypto eventually.

This second point is what leads us to today, the idea that LTC is working on implementing a privacy feature that could potentially make the existence of Zcash and Monero, not that relevant anymore. Yes, I'll go that far. Why? Because of adoption, because there are a lot more places and businesses that take LTC as a form of payment that Zcash or Monero and this is also something that can be verified.

Along comes this Mimblewimble announcement and all of the sudden the frenzy starts. I should have seen this coming, and I somewhat knew it would pump but hesitated to pull the trigger. I'm still working on divorcing my emotions from logic, but then again that sentence is technically inaccurate.

Now what?

Nobody truly knows, and I'm not going to sit here and tell anyone this is the turn around, more so because I don't believe it to be at all. Yes, the market did break out of the downtrend, but for it to be something it needs to last more than a couple of days and that remains to be seen.

That being said, if you, unlike me, bought some LTC when the rumors were making their rounds, and you sold when the announcement was made. Mad props.... That is how you survive these crazy markets, and one day I hope to learn to play them too.

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Cha ching

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I have always preferred LTC it seems to react slower to markets tells many feel the same way and it has further holding pressure upwards.

Then on the merchant end depending on what transactor you using there are quotas on withdrawal and if your just a small business LTC with less transaction costs than BTC and no quota it’s an obvious preferred choice.

As for tech way over my head, I hear it has potential. The LTC guys have always delivered, so that’s about where I stand.

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I think Charlie Lee has his heart in the right place, and even tho he may not be the best interviewer (some of his interviews are pretty lame), he is unquestionable bright.

I believe Litecoin will be around for decades, it may never be number one, but it wont go anywhere.

Yea he definitely does, I see his strength coming from his willingness to try new avenues of research for a solution. So many “little” bits of development he has had his hands apart of he’s such a humble man that he never demands credit for his work.

Tells me LTC is positioned to overcome any potentially large development hurdles.

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I always seem to be just a little bit late to these perfect trades, but I knew the price of Litecoin was going to increase because of the Litecoin halvening, if that's the correct term for Litecoin. I'm learning to read charts a lot better because technical analysis is one of the few ways to see something coming a few days ahead of time. LTC has always been viewed as a testnet to Bitcoin, and when Charlie Lee sold the top last December he really damaged the coin's reputation.

However, one thing occured to me when Roger Ver was debating Charlie Lee a few months back is that if you're going to create a successful cryptocurrency then you're not going to have all of the answers right away. Roger Ver was flawless in having a near perfect answer to every question in that interview, which in my opinion meant that he wasn't thinking things through properly. Anyways, sorry for my long rant here, my point is that Charlie Lee and the Litecoin developers haven't given up yet in this bear market and probably won't unless Bitcoin shoots up to $50k, and Litecoin still has a lot of adoption and legacy in the crypto space.

That conversation between Charlie and Roger was super cringe to me. In many ways Roger acted like a bully, and don't get me wrong, I have a couple of BCH I'm not trying to say I dont want BCH to recover or anything like that, it's just that he was basically saying "agree with me or you are a commie" it was pretty painful to watch.

Regarding the perfect trades, I hear you... I've been trying and trying, never got one quite right, but I'm still learning.

Its odd because when the markets started falling badly last year, LTC held its own for a long time. It wasn't until the announcement that they were unable to provide the Mastercards for easy use that they had been promising did it then fall and follow the crowds down.
I like the LTC management team, they have definite plans and a vision and despite the setbacks, I still think they will have one of the best 'real-use' coins.
Nice analysis. Hope you're feeling better and having a great weekend fella :-)

I like LTC too, i should probably get back into the coin... I don't want to regret a think when the bull market comes back.

Thanks for the wishes brother, cheers.

I saw the pump yesterday and almost spat out my coffee haha. I normally would have some Litecoin because that's how I buy Steem: Fiat - LTC - Steem. Usually I'd buy some and let it sit there until I'm ready to go to Steem. Unfortunately I don't have any right now hahah. It would have been so sweet to almost double my money :)

I would not chase it now... but I'll probably jump in in the next pullback.. get some skin in the game as people say.

Maybe i can start regretting for not investing in litcoin

This reminds me of when LTC started developing the SegWit update that allowed improved scaling and other options that are now possible. Bitcoin followed suit so it is all about the development and I think the Litecoin community is strong and has remained relevant throughout the bear market. Good times to come!

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Yes!! Litecoins is the right coin!

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Querido amigo @meno Trato de aprender un poco de cada publicación que colocas, siento que es un mundo complicado, pero que debemos aprender, no es sencillo, pero creo que es necesario para sobrevivir "en este mar". Un abrazo mi amigo.

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