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RE: Is LiteCoin Still Undervalued
I have some LTC holdings (not as much as I would like of course). My belief in LTC, aside for the platform, is that I have a true belief in Charlie Lee. To me, he simply is one of the most astute guys in the crypto world. Long term I see him and his team making this platform part of the core decentralized system. Ultimately, LTC might act as the currency while BTC is the store of value. Lee's goal is to have most switch back and forth seamlessly.
I can agree with this, bitcoin is still sluggish to update its block chain but litecoin as already taken this leap and it is locked in so future developments are now possible for it.
Bitcoin has the possible fork coming up again, something LTC doesnt have to worry about.
I can definitely see LTC at $100 by year end (hell at the present pace might be there before Friday..jk).
Thus far, I have avoid BCH figuring LTC will fill the role that many espouse that BCH will.
I'm still avoiding BCH as well nothing like a coin out of no where and there are then 16 million of them and some how they have value? lol
Thank you for sharing that.
I feel a bit better in my concern over that entity. I agree, it was created out of nothing, a fork from nowhere based upon an argument over how to better handle the traffic. Maybe the larger blocksize is a good idea....or maybe it isnt. Besides, arent segwit and lightening suppose to help handle the BTC problems.
Yup exactly and the core developers dont support BCH just a few miners. I honestly think China backed it with a few billion dollars when it launched as a majority of the miners seem to be out of China
Do you see the price collapsing for BCH or are there enough people who embrace it that it will hold up?
That was something that I saw pointed out as a major drawback to BCH...the fact that most of the mining was being done by a few entities. It wasnt a situation where there was widespread penetration among the miners.
It will always hold some type of value but I don't see it beating out BTC. Still many people are having touble getting access to their BCH but when that happens that's more and more coins to flood the market.
Thanks for all your insight.
My intuition led me away from BCH. In fact, when I was mulling a purchase last week, I considered BCH but passed and picked myself up a position in LTC. Like you posted below, I wish I had more. Sadly, my money is on hold for another couple days but I will be adding more (might wait for a pullback). I think this is a nice long term hold.
Where can I learn about the possible fork? I've learned so much just reading this post and comments. I too am bullish!
I honestly dont know how much is written up about it other than the speculation. There are rumors that another fork will take place in late Oct or Nov. I am not sure how set in stone it is.
I know I have seen people comment on it in Youtube video posts . You might want to search coindesk and some of the sites like that....there might be articles written on there.
I do believe Segwit2x is what is is called (google search should get you good info) Is still a few months out to when it would fork. Some support it some do not I think its dumb to support it honestly just another fracture and it hardly does anything for bitcoin.
I myself, am filling most of my portfolio with Litecoin for the remainder of this year, because all this non-sense going on with all (possible) 3 Bitcoin versions is creeping me out. 💰