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What has happened to Litecoin price? (self.litecoin)

onlineo が 投稿

Back in 2013 I sold 1 Bitcoin for £699.30 GBP to a guy whom I met up with in person. He was planning to buy 10 or 12 Litecoins with the Bitcoin I sold he. This valued Litecoins at £58 to £70 in my eyes. I have been busy starting a family and investing in property so I haven't paid much attention to crypto currenecies until a month or 2 ago. Yesterday I sold another Bitcoin for £606.70 GBP and it got me wondering if I should have switched my holdings to Litecoins instead of Bitcoins back when I had a chance a couple of years ago. The answer is no as Litecoin is trading at £3.16 GBP. Ive checked the marketcap and seen that Litecoin is the 4th biggest crypto, so its not like Litecoin has disappeared. It looks very much still here and going strong, but why is it worth so little?

On an aside, does anyone know a currency that I hypothetically could have swapped to at the time of the ATH for BTC and LTC that would have increased my wealth?

This post is not meant as a dig, it is not my crypto currency lost less £ than your post, it is more an amazement that the Litecoin price should be so low comparatively. The guy I sold my Bitcoin to was so passionate about Litecoin, he talked to me about it for over an hour. Had the BTC price crash not happened a couple of days later and then life events not got in the way I am certain I would be sat on a sizeable Litecoin holding right now, so I was wondering what I have missed and just as importantly what is happening to get the value up again?

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[–]deeltje 3ポイント4ポイント  (0子コメント)

After a full retrace of the 1200usd BTC bubble, people started to realize altcoins have to at least deliver what they advertize; ALTernative options to BTC. So while other cryptos started to actually innovate, LTC never gotten any attention/development, it was under the impression that the 2nd mover name was enough, reality didn't agree with that.

[–]geopayme 1ポイント2ポイント  (1子コメント)

LTC still has more then 50% of its mining available, it has a very stable price discovery along with DOGE, so the Trilogy of Top Cryptos is BTC/LTC/DOGE and ultimately they will win out. The next evolution is consumer/merchant adaptation... as long as Banks and their 'blockchain' minions control the purse to adaptation, other ways need to be innovated.

[–]pseudopseudonymLiteshibe 0ポイント1ポイント  (0子コメント)

adaptation

I think you mean adoption :)

[–]PablocalityaLTCoiner 3ポイント4ポイント  (8子コメント)

The Bitcoin crash crashed a lot of people's dreams in cryptocurrency. This hit the altcoins even harder than it hit bitcoin.

The rise of various scam-like projects such as Ethereum, the dao, zcash, tendermint, etc. over the past years has taken much of the spotlight, publicity, and thus money, while Litecoin has been quietly doing its thing (mostly the same thing as bitcoin). Litecoin is still the most popular true-cryptocurrency next to Bitcoin.

[–]onlineo[S] -1ポイント0ポイント  (6子コメント)

Ethereum followers now reminds me of all the enthusiasm from highly skilled techies that my Litecoin buyer had 3 years ago. I hear that there are large tech companies involved too which must be quite novel for crypto's... But then I also see that there is Ether and Ether Classic. Now I can understand a hard fork happened because of some bad code in a contract and loads of Ether was taken (not sure hard fork was a wise move but probably necessary to keep large companies on board)... but why oh why are there 2 Ethers I can buy? ETH or ETC? Surely the one they are forking away from should be shut down not still traded or else the guy who took all the Ether can still profit, and it confuses non techies like me. With Ether so confusing and stolen and forked how has Litecoin not taken a bit of its own market back from them?

[–]akira_fmx 5ポイント6ポイント  (1子コメント)

For a guy who haven't paid attention to cryptocurrencies until a month ago, you have a well formed opinion about certain topics.

[–]onlineo[S] 0ポイント1ポイント  (0子コメント)

Thank you, the majority if my life savings are invested in Bitcoin. When I come back to the crypto scene I tend to look at as much as I can and in half the Bitcoin forums there are post about ether. That was what it was like with Litecoins a few years ago.

[–]PablocalityaLTCoiner 2ポイント3ポイント  (3子コメント)

I think Litecoin will get investment back. It is a decentralized currency without a group of people in control.

Ethereum developers have complete control of Ethereum. They chose to go ahead with the fork. The only power the people had was to support the original Ethereum (where the Dao was hacked) by not going along with the Ethereum fork where the developers returned all the money that was stolen back to the investors. The non-forked version is now referred to Ethereum Classic (ETC), it does not have support of the large companies, because the large companies want a currency they have control over. Ethereum has proven that it is totally controlled - not the same as Bitcoin and Litecoin.

*I have a limited knowledge of the whole ethereum thing. I made the decision to stay away from it, but I do pay a bit of attention to what takes place.

[–]elguapo4twenty 2ポイント3ポイント  (1子コメント)

Thank you. I have been waiting for someone to articulate that in the way you did. Iv never owned ETH cause its community felt different than all the OG cryptos i love

[–]RunePoul 1ポイント2ポイント  (0子コメント)

The difference is that the Eth community is full of people who wants to build software and improve the technology where other Cryptocoin communities seem to be mostly focused on investment or using their coin as a currency.

Personally, I'm not at all sure that the Ethereum coin itself is a good investment, but I am 100% convinced that the underlying ideas behind this coin will revolutionize society like the World Wide Web did in the 90ies.

Forget AI, forget big data... the Technology of the 21st Century is distributed cryptographic IT infrastructure!

[–]Nofear1989AA -1ポイント0ポイント  (0子コメント)

LTC is not decentralized currency. It also controlled by few chinese huge miners and investors.

[–]RunePoul -3ポイント-2ポイント  (0子コメント)

Ethereum is not a scam! It's an amazing technical revolution that has the potential to revolutionize society. Litecoin really can't be compared to this, it's biggest force (as I understand it) was that it was made to be mined on normal CPUs instead of special-made hardware, which is awesome, but nothing compared to what Ethereum brings to the table.

In fact, big companies are proof of this: IBM, Deloitte, a Union of the world's 7 biggest banks, Microsoft have all publicly embraced Ethereum during 2015 or 2016. Try and Google it!

Ethereum like technology really is the future, not of money, but the future of IT infrastructure. IMHO! :-)

[–]freework 1ポイント2ポイント  (4子コメント)

Metcalf's law. If more people accepted LTC, it would be worth more. Once adoption picks up, the price should rise.

[–]onlineo[S] 1ポイント2ポイント  (3子コメント)

As far as I know Litecoin whilst not as well adopted as Bitcoin was becoming fairly well adopted, has that changed in the last 2 or 3 years?

[–]freework 4ポイント5ポイント  (1子コメント)

Its well adopted amongst exchanges and stuff like that but amongst users I wouldn't say it's well adopted at all.

[–]elguapo4twenty 2ポイント3ポイント  (0子コメント)

Jist saw a poker site that only accepts bitcoin and litecoin. For it thats worth

[–]onlineo[S] 0ポイント1ポイント  (0子コメント)

Thanks for all the replies.

[–]Nofear1989AA 0ポイント1ポイント  (0子コメント)

There were only 15 cryptocurrency in 2013. And only 6 of its were traded on the major exchanges. And now we have more than 1000 cryptocurrency and many of them are traded on the major exchanges. LTC has no advantage in front of them, so all this time, the liquidity out of LTC into other currencies.