What Charlie Lee's Candor About Lack of Litecoin Development Tells Us

vimukthi (72)in #dlike • 5 years ago

For a significant time I have been considering LTC to be a dead coin because I saw no real development going on. When it comes to transactions It was very alive. LTC was dong about 75% as much transactions as BCH and almost 3 times as many transactions as Dash in the bear market.

In terms of marketcap LTC is at #5
In terms of trading volume LTC is actually at #4

These numbers should explain most of the network activity happening. But these prices actually has not a lot of backing than what is backing fiat currency. Here is one of the worst things I've heard from a top crypto developer

[Check The Chat Logs Yourself]https://t.me/s/LTChasnodev):

A coin price built on brad awareness isn't much different from USD which floats on nothing but its military force and name recognition. So far it seems that the trading community is fully on board and betting on this brand awareness. This is a terrible investment tactic. Joël Valenzuela explained this the best:

For all too many crypto investors, the research process goes something like this: check a coin’s price, read the 1-2 paragraph intro to the project, check out what some thought leaders/friends/random people on Reddit are saying about it, then buy. Occasional attention is given to some updates from official sources or mentions in the crypto media, but other than that, most people have no idea about what they bought. Is there innovation going on? Is it being used? Does it have a future? The answers to these questions remain largely unknown.

You should always do your research and bet on things that can't or almost impossible to go wrong. STEEM is the only solid working and consistently active blockchain social media project with continuous development __that is actually decentralized among many DAPP/SCOT developers. Even at 19 cents I'm 100% confident in my investment into STEEM. I don't flinch. I even want the prices to sink eve lower.