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    Sunday, December 17, 2017

    Home Unlabelled Litecoin Not my meme but a great one .. can't wait for a 500 one!

    Litecoin Not my meme but a great one .. can't wait for a 500 one!

    December 17, 2017

    Litecoin Not my meme but a great one .. can't wait for a 500 one!

    Not my meme but a great one .. can't wait for a 500 one!

    Posted: 17 Dec 2017 03:56 AM PST

    U/Jaber21 is at it again!

    Posted: 16 Dec 2017 09:19 PM PST

    Litecoin hashrate is over 100TH/s

    Posted: 17 Dec 2017 06:36 AM PST

    PSA: You can now see Litecoin, Bitcoin, and ETH prices on the stocks app on your iPhone

    Posted: 17 Dec 2017 05:37 AM PST

    Can we stop pretending like leaving your coins on an exchange is a doomsday scenario?

    Posted: 17 Dec 2017 10:45 AM PST

    I get it, most people on this thread who have been in crypto for years and thoroughly understand the technology also understand how to move coins to a hardware wallet, software wallet, or paper wallet.

    On the other hand, many newbies keep their coins on an exchange because it's easy, intuitive, and straightforward.

    The most frustrating thing in crypto communities is that it's preached that if you leave your coins on an exchange you're doomed. But I find so many flaws in that. Here we go:

    1. Just as there are horror stories about leaving your coins on exchange (like the Mt. Gox fiasco), there are also horror stories of people losing flash drives that contained hundreds of coins that people put on the USB in the plans to HODL for the long haul. At least if your coins are on an exchange, you have some chance for reparations from the exchange. If you lost your flash drive, on the other hand, you're screwed.
    2. Exchanges are advancing. Coinbase is becoming the figurehead for crypto exchanges, largely because of the ease of access and accessibility for beginners. Their fees are higher which sucks, but it also means they're profiting more money than other exchanges and thus have the means to continue to increase their site's bandwidth, speed, and security. Other exchanges look janky, like my 7th grade web development project, and I wouldn't trust them with my money. Coinbase, however, is aiming to become the gold standard. When you look at robo-investing platforms like Acorns, Betterment, etc., those are all budding tech companies where beginner investors park their money and trust it for the long haul. For me, Coinbase is no different. Sure, any one of these platforms could be hacked. Equifax was hacked for goodness sakes. There's no guarantee your assets will be safe, but there's also no guarantee they won't be. I'd rather take the route then that's at least simple and mitigates user error. Which leads me to #3.
    3. There are sooo many ways you could screw yourself over by moving your coins off an exchange. Beyond losing your flash drive, you could lose your paper wallet or it could be lost in a fire. Want to put your flash drive in a safety deposit box? Fair. But SDB's have been burglarized before at banks, banks can be victim to the same acts of God (fire, hurricane, earthquake, etc).
    4. Not having your coins on an exchange means not having them at a moment's notice if you really were to need them. Life comes at you fast. You could be on vacation in California and chop your arm off in a jet ski accident and suddenly need funds to pay ambulatory and hospital fees. Meanwhile, your little flash drive is back in North Dakota. (Yes, I know this is a dramatic scenario, but the point still holds.)
    5. TECHNOLOGY CAN FAIL. Flash drives can break or defect. Hard drives can break. Just like exchanges themselves can be susceptible to malware and hacks, technology in general is subject to obsolescence.
    6. What if the price started to dip suddenly? With no stop losses or coins on exchanges you don't have liquidity. So if the price of a coin starts to plummet while you're on that lovely California vacation, your coins will be deteriorating back in North Dakota. (Once again, the counter argument may be "well, I'm hodling for the long run anyways." But crypto is still in its infancy and one coin could easily fail to make room for another. No coin, like any asset or investment, is guaranteed to rebound after a dip. We can just reason and hope for a rebound based on market trends.)
    7. "But I don't view LTC/any other coin as an investment like these noobs and grandmas do. I'm hodling till it becomes the currency of the future." Okay bro, that's valid. But please see numbers 1, 3, and 5.

    I'm posting this here because I really enjoy LTC's community and this sub has been fun and upbeat for the most part, but the fear mongering has got to stop. Logically, there is no one perfect way to ensure your coins are safe. It's legitimately impossible to say with certainty that one method can be deemed plausibly and definitively more secure for an indefinite amount of time than the other. Each method has its pros and cons, and they are all VALID. Instead of pushing this apocalyptic "you have to have a wallet off an exchange" message, let's talk about how in the case of imminent harm, you're not gonna be running to be closet to open the safe in your basement and grab a flash drive that you hope you don't lose as you run from whatever imminent danger to wherever you get to safety. I personally want to keep my coins where I have access to them whenever, WHEREVER, on any device.

    Perpetuity isn't guaranteed for ANY method of hodling your coins. We can just hope the method we choose ends up being secure in the long run. So instead of pushing one narrative (and potentially intimidating and isolating crypto newbs), let's acknowledge that we're all in this together. Personally, I hope there will be an easier and less flawed method for holding coins as crypto becomes more mainstream. But no matter what, I'm gonna do what works for me and you do whatever works for you. Let's preach that method, support each other and wish for the best, and focus on taking this to the moon instead.

    submitted by /u/xojulietdotcom
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    Razer gaming company "Very interested in Litecoin"

    Posted: 17 Dec 2017 10:33 AM PST

    I emailed a bunch of companies that I like a while back about accepting litecoin as payment, most were barely aware of bitcoin. However, I got an interesting response from Razer today :)

    "As of now, we accept PayPal, Visa®, MasterCard®, American Express®, and Diner's Club® as payment methods.

    Your idea of Litecoin as payment method is brilliant. We would hope to see it as one of our payment method in the future. You may also get more information about order information by following this link:"

    I don't know about everyone else, but to me.. that sounds like they just need a little bit more demand :)

    edit: removed half the quote to remove links.

    submitted by /u/elfmachine100
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    Saw this guy on Twitter selling his whip for 23ltc.

    Posted: 17 Dec 2017 10:28 AM PST

    Litecoin Price is on Track to set a new All-time High!

    Posted: 17 Dec 2017 09:49 AM PST

    PSA: Do not keep your litecoins on an exchange for long periods of time! Make sure you are in control of your private keys.

    Posted: 17 Dec 2017 05:45 AM PST

    I've just noticed a ton of new people using coinbase to buy litecoins and this is fine, coinbase is reputable and a good place (at least in the US) to purchase litecoins.

    But as long as your litecoins are on coinbase's website coinbase is in control of your litecoin's private keys. I'm not trying to say coinbase will fail or be hacked but many reputable and established exchanges have been hacked or had it's employees steal the crypto in the past. Mtgox and cryptsy are the biggest examples although there a quite a few others.

    So the safe thing to do is to only use exchanges when you are buying or selling crypto. once you have bought litecoins withdraw them to a wallet like electrum, litecoinqt or print out a paper wallet. That way you control the private keys to your litecoins and the likelihood of the private keys being stolen is much less.

    if you are going to use a software wallet make sure you have backed up your private keys, most wallets have a "backup wallet" feature. If you are using a paper wallet make sure you keep the wallet somewhere safe like a fire safe/safe deposit box.

    anyway if you have any questions about this stuff feel free to ask. the concept of private keys is kind of weird but essential to understanding crypto security.

    submitted by /u/illpoet
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    40 Years of Stanford Research Found That People who HODL Are More Likely to Succeed

    Posted: 17 Dec 2017 06:38 AM PST

    In the 1960s, a Stanford professor named Walter Mischel began conducting a series of important psychological studies.

    During his experiments, Mischel and his team tested hundreds of children — most of them around the ages of 4 and 5 years old — and revealed what is now believed to be one of the most important characteristics for success in health, work and life.

    Let's talk about what happened and, more importantly, how you can use it.

    The Marshmallow Experiment

    The experiment began by bringing each child into a private room, sitting them down in a chair, and placing a marshmallow on the table in front of them.

    At this point, the researcher offered a deal to the child.

    The researcher told the child that he was going to leave the room and that if the child did not eat the marshmallow while he was away, then they would be rewarded with a second marshmallow. However, if the child decided to eat the first one before the researcher came back, then they would not get a second marshmallow.

    So the choice was simple: one treat right now or two treats later.

    The researcher left the room for 15 minutes.

    As you can imagine, the footage of the children waiting alone in the room was rather entertaining. Some kids jumped up and ate the first marshmallow as soon as the researcher closed the door. Others wiggled and bounced and scooted in their chairs as they tried to restrain themselves, but eventually gave in to temptation a few minutes later. And finally, a few of the children did manage to wait the entire time.

    Published in 1972, this popular study became known as The Marshmallow Experiment, but it wasn't the treat that made it famous. The interesting part came years later.

    The Power of Delayed Gratification

    As the years rolled on and the children grew up, the researchers conducted follow up studies and tracked each child's progress in a number of areas. What they found was surprising.

    The children who were willing to delay gratification and waited to receive the second marshmallow ended up having higher SAT scores, lower levels of substance abuse, lower likelihood of obesity, better responses to stress, better social skills as reported by their parents, and generally better scores in a range of other life measures.

    The researchers followed each child for more than 40 years and over and over again, the group who waited patiently for the second marshmallow succeed in whatever capacity they were measuring. In other words, this series of experiments proved that the ability to delay gratification was critical for success in life.

    And if you look around, you'll see this playing out everywhere...

    If you delay the gratification of watching television and get your homework done now, then you'll learn more and get better grades. If you delay the gratification of buying desserts and chips at the store, then you'll eat healthier when you get home. If you delay the gratification of finishing your workout early and put in a few more reps, then you'll be stronger. ... and countless other examples.

    Success usually comes down to choosing the pain of discipline over the ease of distraction. And that's exactly what HODL is all about. Source: https://www.huffingtonpost.com/james-clear/40-years-of-stanford-rese_b_7707444.html

    submitted by /u/everwhat1
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    Let's get something straight about Charlie's interviews

    Posted: 17 Dec 2017 06:33 AM PST

    I've been seeing this nonstop since he was interviewed/tweeted that Litecoin is a speculative investment.

    "Oh no, he's going to ruin Litecoin", "Oh no, the price might dip because he's saying this", etc.

    Are you truly that juvenile? Do you not see that appreciation of an asset due only to hype is dangerous? The only rising of prices should come from adopters of the technology wanting in, not people who want profits. Slow and steady gains should be the name of the game.

    It's good that he said these things. For Litecoin to be taken seriously as a form of exchange, it needs to be at least relatively stable when compared to the price of Bitcoin.

    Literally one of the comments I saw in the past few days was bashing Charlie because "what about the people who bought in at $300? Doesn't he know what this does to their dreams?" They shouldn't be dreaming about Litecoin going to the moon because they bought $20 on Coinable, they should be dreaming about Litecoin going to the moon because vendors and merchants now accept it.

    And stop complaining that your investment "only" appreciated in order of multiples in one week. That's unheard of anywhere else. Be grateful for once.

    EDIT: Coinbase

    submitted by /u/LoneWolfingIt
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    I transfered $50 worth of bitcoin and it cost $16 dollars

    Posted: 17 Dec 2017 09:56 AM PST

    What the fuck

    submitted by /u/neme386
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    A real PSA for a change

    Posted: 17 Dec 2017 10:41 AM PST

    You are not hotshots. You know very little about investing. You know very little about the financial and technical fundamentals of crypto.

    Right now, it's ridiculously easy to make money with crypto, or at least buy and see it rise in value. But it's important to keep in mind that 99% of what we read on this sub, in blogs, and in the news is people parroting things they've heard from other people. And most of THOSE people are parroting other people.

    I'm sure I'm going to offend a few people, but those are probably the ones who should be offended the least. It's perfectly fine to make some money and have fun with crypto without being an expert. But please, please, please know your limits. And if you are one of the thousands of folks who dream of a golden future in crypto investing, please, please, please get serious about it. Take classes. Read the classics on investing. Learn to understand (not just read) charts. Start following other markets (stock, commodities, etc.) as well because at the end of the day, what counts is the green number in front of the % sign. Whether you invest in crypto or orange juice futures, you need to know your trade, and that's very hard work.

    submitted by /u/Theresbeerinthefridg
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    Just passed this guy in Ozona, Tx. Who is going to get the “X LTC X” vanity first?

    Posted: 17 Dec 2017 11:08 AM PST

    Just sent a small amount of LTC to LoafWallet... why is it showing I have 77 LTC, or am I reading this wrong?

    Posted: 17 Dec 2017 07:47 AM PST

    I accidentally sent Litecoin to my Bitcoin address. How do I cancel my transaction and recover my Litecoin?

    Posted: 17 Dec 2017 08:20 AM PST

    I sent a couple LTC from my coinbase account accidentally to my BTC ledger wallet. Will I be able to recover my Litecoin?

    EDIT: r/devbitcoin contacted me and is helping me through the process. I will write an update when I have everything figured out.

    submitted by /u/micbac
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    @loshan1212: A generous person has donated 1000Ł to the @LTCFoundation!

    Posted: 17 Dec 2017 11:23 AM PST

    Noob question - no upvote please. Wallet security.

    Posted: 17 Dec 2017 10:51 AM PST

    If I go to bitaddress.org and create a wallet, it seems that they take my seemingly random mouse input and use it to calculate my public/private key.

    I'm not understanding how bitaddress.org is prevented from storing the private keys. Is it just a given that you run this offline, or is that even possible?

    I understand doing all of this from an uncompromised OS, but can anyone shed some light on how everyone feels confident that they aren't storing those PKs?

    edit: sorry I think I should have posted this in /bitcoin, but here's to maybe someone having an answer here. Thanks!

    submitted by /u/GrannyDanger
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    PSA: Price fluctuation is not the only risk in owning LTC (or any other crypto)

    Posted: 17 Dec 2017 11:48 AM PST

    Cryptocurrency is still in its infancy. The technology which facilitates transactions is still new. There is a lot of noise on this subreddit about offline wallets being safer than exchanges but there is risk either way; equal risk in my opinion.

    I feel I'm more likely to screw up moving my LTC to and from an offline wallet than Coinbase is likely to lose my coins. Can it happen? Yes. But before you downvote my opinion to hell, consider the post submitted earlier today where somebody sent their LTC to a BTC address. Most of the comments are not optimistic about him getting his LTC back. Or consider the innumerable amount of people who have misplaced their offline wallets with no backup.

    Yes, if people didn't make mistakes offline wallets would be safer. But I've lost more crypto to the void trying to move between wallets than I have from exchange hacks.

    Don't feel bad about leaving your crypto on a (safe) exchange like Coinbase. The reality is there is risk in depending on such a young, decentralized technology and if you cannot accept that risk AND the massive price fluctuations, you should not own crypto.

    tldr; do not invest what you cannot afford to lose, either to price fluctuations or glitches/hacks/faults with the technology

    submitted by /u/redditthrowaway2024
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    What if we contact businesses and send tons of emails (group effort ) to convince them to start using crypto currency. Then they’ll have the new way of excepting currency. And our shares will go up in value. Everyone wins.

    Posted: 17 Dec 2017 12:11 PM PST

    Now my evenings and weekends are spent helping friends and friends of friends and family buy Litecoin

    Posted: 17 Dec 2017 02:02 AM PST

    What's happened. Ages ago I told people I'd bought a Litecoin. They listened but didn't really care. Now all my friends and friends of friends and family want help buying and storing Litecoin. They're not even mentioning Bitcoin. Being invited over for meals and having computers thrown in my face. I'm questioning invites now. Something has happened. Even had my 10 year old nephew stop me on the way out from a flying visit to ask to put his birthday money into it. How could I say no. Delayed my night out by an hour because of his enthusiastic questions. This is nuts. I need to buy more with all this adoption going on around me. Anyone else getting the same? Does it bother you?

    submitted by /u/CrptoGeek
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    After moving several coins around from exchange to exchange I've noticed one thing. Litecoin is legit 10x faster than anything else I've used.

    Posted: 16 Dec 2017 04:55 PM PST

    Why would anyone insist on using BTC over LTC? I can't even think of one good reason.

    submitted by /u/socialjusticepedant
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    LoafWallet devs better fix this or someone will get sacked...

    Posted: 17 Dec 2017 08:44 AM PST

    Coinbase to Ledger

    Posted: 17 Dec 2017 11:28 AM PST

    I️m trying to transfer my litecoin to my wallet from coinbase, do I️ need to use a legacy address or a Segwit address?

    submitted by /u/BBala422
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