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    Home Unlabelled Litecoin I'm a consumer. I understand LitePay...and I still don't get why I'd use it.

    Litecoin I'm a consumer. I understand LitePay...and I still don't get why I'd use it.

    February 27, 2018

    Litecoin I'm a consumer. I understand LitePay...and I still don't get why I'd use it.

    I'm a consumer. I understand LitePay...and I still don't get why I'd use it.

    Posted: 27 Feb 2018 12:30 AM PST

    Ok first let's confirm I know how Litepay will work. So let's pretend I have 22 LTC worth $5000 USD.

    Now let's say I go to a retail store and am looking to buy a smartphone. As I stand there I see the price is 2 LTC, which converts to $500 USD.

    So I'm talking to the salesperson, walking around, and by the time I get back to to the phone to purchase the value of LTC has taken a hit. A small dip, so now the price is 2.1 LTC so that the merchant is still getting $500 and I'm still paying $500....sorta.

    The phone was always $500 USD, but now I have slightly less LTC in my account because of the purchase. Sadly LTC continues to drop and within a few days, subtracting the $500 USD purchase, my total amount of LTC coin obviously remains the same but my USD buying power has dropped to $4200.

    The same smartphone on that day is 2.9 LTC.

    So the only thing that is really smart for me to do is HODL, don't spend until LTC value goes up and I "recoup" my $300 in USD value.

    Now let's say the opposite happens. LTC market does well and my initial 22 LTC has a USD worth of $5500. The smartphone is 1.8 LTC, the merchant gets the same instant conversion to $500 USD, and I got a phone for less LTC so I feel like I made out pretty good.

    So if this is how LitePay works I still don't understand why a consumer would ever deal with it. If LTC is going down then I will won't to HODL my coins. If LTC appears to be trending upwards then I will also want to.....HODL my coins.

    I would only ever want to spend my LTC at a store if I was 100% certain the value would increase no? If I knew 2 LTC would be worth $550 tomorrow then I would buy the smartphone today when 2 LTC is worth $500.

    None of this effects the merchant because they get instant USD conversion. But for me the consumer I would 2nd guess and triple guess myself before any purchase.

    How in the world would this ever catch on?

    submitted by /u/buff_minorcan
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    I posted this 4 years ago. Guess what? I am still holding bitches. Degenerates from the 2013-2014 bear era, unite in this thread.

    Posted: 27 Feb 2018 04:47 AM PST

    Bluebird Botanicals, one of the world’s leading hemp-CBD companies accepts LTC for 20% off all orders

    Posted: 27 Feb 2018 05:10 AM PST

    Hello /Litecoin community! We thought you might be interested in our company as a use case for LTC (and in the future, other blockchain technologies besides currencies).

    We currently accept LTC and one other coin as payments for orders on our website, with an automatic 20%-off being provided to customers who choose those options. When we implement the 20%-off incentive, our crypto-orders-per-day increase by about 1,000%. We will continue to incentivize our growing customer base to use Litecoin and cryptocurrencies, in an effort to do our part in mainstreaming blockchain tech, and of course because we think it's a solid investment too. We're currently integrating the Shapeshift code that Overstock.com uses, and will soon be accepting 36 cryptocurrencies, with another 38 in the works.

    Our industry is classified as a "high risk" industry by American banks, and therefore we pay exorbitant processing fees in order to accept credit and debit cards on our website. +5% and a 10% 6-month rolling reserve, if we even get paid (a lot of high risk credit card processing companies are total scams and/or get shut down)! As a company and industry, we have a very serious incentive to distance ourselves as much as possible from banks and credit card companies.

    Looking forward, we can read the writing on the wall. Blockchain technology is undoubtedly going to transform the way the world operates. We hope to continually showcase the potential of blockchain tech by using it for decentralized storage, accounting, quality control and supply management, corporate governance and contracts, payment processing, etc. Many of the employees at Bluebird are crypto enthusiasts, and we're sincerely excited to incorporate blockchain tech into our operations over the coming years.

    A little about us: we were founded in Boulder, Colorado in 2012 and were one of the very first companies to legally sell hemp derived CBD products nationwide (we currently ship to all US territories except for South Dakota, and about 35 other nations). Our hemp farm is in Pueblo, Colorado, and our manufacturing facilities and headquarters are in Louisville and Broomfield, CO. Last year we processed over $6.5M in transactions, and this year we're expecting to do over $10M, with hopefully "parabolic" growth in the coming years! Our products are on shelves in over half the U.S. states, and we plan to land many more brick and mortar accounts this year. We will also incentivize our wholesale customers to pay with cryptocurrencies.

    Our founder Brandon Beatty is also a co-founder of the Industrial Hemp Research Foundation (a 501c3 non-profit geared towards advancing hemp research), a board member of the US Hemp Roundtable (a grasstops lobbying organization), an advisor to the National Hemp Association (an industry/trade association), and an investor in The Hemp Connoisseur magazine. We're also members of the Colorado Hemp Roundtable (a local legislative group), the ASTM D37 Committee on Cannabis (an international organization that has roots dating back to the late 1800's), and are on the advisory board of the Aims Community College hemp program.

    For more info check us out here: http://www.bluebirdbotanicals.com

    submitted by /u/BluebirdBotanicals
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    This is the most manic subreddit I have ever seen

    Posted: 27 Feb 2018 04:27 AM PST

    You guys should talk about the different ways in which to advance Litecoin...everyday uses, different tech, etc. Instead, the second something doesn't go according to your vision of how it should go, 90% of this place turns people yelling at Lee, asking if you should hold, just complaining because it's not made you money in a short span of time, etc. You guys are supposed to be the biggest advocates out there. If you can't get behind it through the lows too and maintain a level head, how the hell do you expect the mainstream to? End rant.

    submitted by /u/dandaman289
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    Litecoin Segwit adopotion on the rise - currently at ~22.4%

    Posted: 27 Feb 2018 03:59 AM PST

    Lykke adds Litecoin, more than 30 new assets to Lykke Exchange

    Posted: 27 Feb 2018 07:07 AM PST

    The Most Important Cryptocurrencies Other Than Bitcoin - Spoiler: Litecoin #1

    Posted: 27 Feb 2018 05:33 AM PST

    Now accepting Litecoin at my repair shop :p

    Posted: 27 Feb 2018 11:35 AM PST

    I've decided to finally setup a system so that we can accept litecoin for computer and phone repair, as well as buying laptops and accessories for phones and computers. Still need a ledger so if anyone has any recommendations let me know :D

    submitted by /u/DR-Flopper
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    My favorite post on this sub from 3 years ago "Litecoin is Officially Dead When We Go Sub $1.90"

    Posted: 26 Feb 2018 11:08 PM PST

    Middle East's largest exchange BitOasis launches Litecoin

    Posted: 26 Feb 2018 10:44 PM PST

    I created a tracker that updates the current price of Litecoin in real-time. How can it improve?

    Posted: 27 Feb 2018 08:39 AM PST

    Let's Get Crypto on Mint!

    Posted: 27 Feb 2018 05:40 AM PST

    My bank blocked Coinbase/cryptocurrency transactions

    Posted: 27 Feb 2018 11:12 AM PST

    Im new to all of this so if any of you experienced guys can help me out that would be great.

    How can i buy litecoins since i cant link my bank account or debit card on coinbase?

    submitted by /u/mapexdrums678
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    Litecoin LitePay Card Postponed, 1 Million Bitcoin Lawsuit, EU Regulation (Crypto News 02/27/18)

    Posted: 27 Feb 2018 11:03 AM PST

    LitePay Logic - Correct me if I'm wrong

    Posted: 27 Feb 2018 11:25 AM PST

    The question people seem to be asking is "why should I spend my LTC if the price will increase?" "Shouldn't I just hodl?" Here's my logic: if you spend $100 worth of LTC to buy something, you'll be disappointed to see that $100 worth of LTC is now worth $1,000 (for example, in the near future). However, let's say we bought something for $100 cash. Wouldn't you still be disappointed you didn't put that money into LTC instead? And you can't say that's different because we always kick ourselves for not putting in more on the dips. And if you're talking about short term volatility, that exists in part due to fear. With mainstream adoption, that fear would subside. Once the speculation ends and LTC is mainstream, wouldn't you expect the price to be more stable because now its something people can trust?

    submitted by /u/crypto_king_LTC
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    Large Australian Retail Chain running a litecoin competition with CoinJar! Great stuff!

    Posted: 26 Feb 2018 10:26 PM PST

    Ricegum releases a song called “bitcoin” Inb4 btc surge because of 12 year olds LUL

    Posted: 27 Feb 2018 11:52 AM PST

    I was told this would be a great place to post Oklahoma/Kansas City based Marketing and Interactive Firm here - we'll be signing up with LitePay!

    Posted: 26 Feb 2018 09:11 PM PST

    Hey Everyone, Our owner is a big fan of the cryto world and has a soft spot for LTC. He believes in the technology and supports the leadership behind LiteCoin.

    We have offices near Tulsa, OK and in Kansas City, MO but do work worldwide.

    A few of us are staying late tonight to get signed up for LitePay. Woohoo!

    submitted by /u/pdgcreative
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    Litepay merchants processing is more important than what you think!

    Posted: 26 Feb 2018 09:01 PM PST

    It would be nice that Litepay had started issuing visa debit carts to consumers today. But like what Charlie and Xinxi pointed out, Merchants supports are more important.

    Unlike Coinbase commerce, business not longer needs to setup a litecoin wallet to accept litecoins. LitePay allows businesses to accept payments in Litecoin and receive funds directly to their bank accounts. Bank deposits in 38 countries, settled in US Dollars, Euros, GBP, and more.

    submitted by /u/begood123
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    Total Newbie not understanding this Litecoin wallet. Password is not working.

    Posted: 27 Feb 2018 05:31 AM PST

    I purchased some Litecoin and put it into my wallet from https://electrum-ltc.org. I tried to transfer some to a friend Then it as for my password to confirm; but it says my password is wrong.

    I wrote down my password twice on paper, so I know it is not the wrong password. I believe this is a thing you can't reset. Am I out of luck? I assume you can't change it. Googling it, it appears that others have ran into the same issues and never did figure it out.

    What are my next steps?

    Thank you for your time, Sarah

    submitted by /u/CoinNewbie1
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    LitePay begins Limited Merchant Account Setup

    Posted: 27 Feb 2018 12:09 PM PST

    FYI, here's a list of LTC debit cards currently availabel.

    Posted: 27 Feb 2018 12:07 PM PST

    Since apparently everyone wants Visa debit cards that you can load with LTC, here's a list of places you can do that:

    advcash

    Bitstamp

    shakepay

    ShiftPayments

    uquidcard

    Coins_Bank

    So if you really wanted it, you can buy them here.

    submitted by /u/ecurrencyhodler
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