Litecoin Litecoin is Deep Clucking Value ~ An exhaustive and unreadably long Q&A on the fundamentals of the forever underdog |
- Litecoin is Deep Clucking Value ~ An exhaustive and unreadably long Q&A on the fundamentals of the forever underdog
- anyone remember this?
- Discounts Offered at the Official Litecoin Foundation Store for a limited time - The classics + 10 Years LTC celebration - Coupon CODE: BLKFriday - Coupon expires on 11/28/2021 - SHOP NOW - $LTC
- Litecoin at the Macy's Thanksgiving Day Parade!
- Non-kyc Litecoin exchanges
- Omni lite
- Newbie Questions
- MWEB and Delisting
- Recovering Old Wallet
- Mimblewimble
- Reason I Should invest in litecoin?
- August batch second hand LT5 Pro--Sell on behalf of friends in Quebec.
| Posted: 26 Nov 2021 07:54 AM PST What follows is not financial advice, quite the opposite. DYOR is a way of life, an edge for those of us who really practice it. Smart vs. dumb money isn't professional vs. retail as is often cast (by pros), but DYOR vs. mindless trend follower. I'm proud of how often these past few years retail has done better research than the so-called pros. So below you'll see some opinion that's not verifiable, you'll just have to weigh it yourself and you'll see references to adoption and stats that can be verified with your favorite search engine or hard work staring at charts. DYOR or don't, your call. At this and other accounts over the past five years I've come across many of the same questions over and over again, so I'm going to recount the most popular ones here. The TL;DR is the title. Litecoin is deep clucking value. If you want more than that, you have some reading to do, though I will bold a few important parts. Q. Isn't Litecoin dead? Q. How can Litecoin still matter since it's no different than any other low fee currency coin? Q. Wait a second, there are no fundamentals in crypto. CNBC said so. But fundamentals are vital to the big three, Bitcoin, Litecoin and Ethereum. And the key fundamental is network effect. If you read nothing else today and even if you'll never care about Litecoin, lock in on this truism: Network effect can't be gitcloned. The longer infrastructure and social norms takes to build, the more expensive the cost of it, the harder it is to tear down. Hype based coins fade to nothing when the hype fades, tech based coins can have their tech gitcloned by anyone. Infrastructure based coins keep coming back over and over. Q. You can't possibly be comparing LTC with BTC and ETH… Q. If Litecoin is elite how come I haven't heard anything about it in years? There are, of course, competing coin communities that try to shape news stories to exclude the word Litecoin. Post a thread in the cryptocurrency sub with the word Litecoin in the title, the downvotes come fast and furious (certain times of day, they come even faster). Post the same story, about say, AMC adding several cryptos and exclude the word Litecoin, and the reaction is far more positive. So by aggressively downvoting LTC material, other posters even with no dog in the fight, are incentivized to leave out the constantly present Litecoin from their posts, and many people who aren't looking beyond the headlines don't realize Litecoin is in so many of them. Q. Let's go back, you said no other coin had all of Litecoin's elements, what blend sets it apart? As an aside, something no one here will believe or understand, Litecoin's most important user is Bitcoin. More on this is another question. Not Bitcoiners, the people, though the close cultural/development relationship between LTC and BTC helps, but bitcoin the network is a user of Litecoin. This is a huge part of how Litecoin has thrived all these years and built up so much other antifragile infrastructure. The second part of network effect is more obvious, actual people. All of those infrastructure elements rely on the more users to maintain them. If there isn't constant liquidity and volume in good times and bad, as many who've been here through multiple cycles know, coins get delisted and removed. Many removed coins needed to only provide liquidity to a tiny number of exchanges and still fail. Litecoin has provided liquidity and volume enough for virtually every exchange, payment processor and other element out there, and has done so consistently over ten years. The network effect has grown far beyond what second tier alts can fathom. Litecoin's minor advantages are more feature based, and many are boring, but also vital to its success. Quickly, yes, Litecoin is low fee separating it from both Ethereum and Bitcoin. But it also has world class security in the form of multigenerationally evolved ASICs that are globally distributed on an algo Litecoin is superdominant on, separating it from most other altcoins. Additionally Litecoin's fair launch, fairly mined status along with its lack of a founder stash separate it massively from the new hype coins which are heavily centralized, and centralization is risk. Litecoin's subcent fees are not unique among alts. It's security and network effect including constant liquidity and healthy volume is not unique among the top three, BTC, LTC, ETH. Its decentralization is not unique among the top two, BTC is on par. But when you piece it all together you have with Litecoin a network unlike any other. Q. Ok, time to get back to that weird aside, how can bitcoin as a network be a user of the Litecoin network? Development synergy has been a big part of this. Litecoin has in the past been called a testnet for bitcoin. This was often used as a derogatory term, as testnet coins are valueless. The very real advantage that Litecoin offered bitcoin was as a test market, one which not only roughly tested basic functionality of tech as a testnet does, but also tested how market participants, both white hat and black hat, reacted to it. You can't really test security on a testnet because the bad guys aren't incentivized to try and break through the security, there's no payoff. You can't test regulatory reactions or infrastructure partners or a many others because most don't know or care what testnets are. The only way to see how a real market will really react is to bring the tech to real market participants on a large scale. Because of Litecoin's constant use and broad infrastructure support, as well as its codebase being kept very close to bitcoin's, it's the perfect test market. What many don't realize is that the synergy goes both ways. Litecoin actually has 100% uptime while Bitcoin is in the 99.98% range because while Litecoin tends to test rare controversial upgrades, like Segwit/lightning and MWEB, on Bitcoin's behalf, Bitcoin is testing all the non-controversial updates for Litecoin, like, most recently, taproot. So Litecoin uses Bitcoin too. The block wars of 2017 are instructive in how this all works. Big blockers did everything they could to stop segwit from activating, and heavily delayed it long after everyone capable of understanding the tech (even its detractors) realized it was perfectly safe and useful. In early 2017, Charlie Lee stepped up and said Litecoin would activate it first, plow the road to prove it up. Along the way alongside bitcoin allies, the Litecoin community helped develop the winning strategy that got bitcoin through activation later that year, the UASF. Litecoin didn't used the UASF, but the billionaire mining consortium that was blocking progress didn't fold until Charlie came out publicly in favor of it, and that folding told everyone everything they needed to know about how to defeat the big blockers. After activation, Charlie put $1 million of his own money into a segwit address and dared big blockers to steal it. Old timers might understand why, but if you've come around more recently, that fud at that time coming from people who 100% knew it wasn't true, was that any value stored in a segwit address could be stolen, it wasn't safe. This helped paralyze the market and prevent activation. Once Charlie put the million dollar segwit bounty up and it went untouched, the fud died so hard that most now don't even remember it was a thing. More about Charlie later, but this is the moment he earned most of his enemies, and just as they lied viciously to stop lightning adoption then, they lied viciously about him to get revenge after he was so instrumental in helping Bitcoin through that civil war. Of, course, the Litecoin community wasn't being purely selfless by adopting segwit and lightning, something that people then and even many still today fear would obviate the need for faster cheaper altcoins. Litecoin has understood very early on that the most impressive feature of lightning was not fast cheap offchain transactions, but cross chain transactions. When I said Bitcoin would use Litecoin even more in the future than in the past, this is what I meant. In the future I believe Bitcoin and Litecoin will flow seamlessly and constantly across the lightning network and mutually reinforce each other's security. I believe coffee is not an endgame for lightning, it's just how to get the liquidity kickstarted. In the future I believe the entire world will touch lightning every day, most without realizing it, and that layer will be their most frequent interaction with the underlying networks. In that scenario, in order to attack the lightning backbone and either take it down or spam it, you'd have to simultaneously take on both the underlying bitcoin and Litecoin networks, thus mutual reinforcement. If only one fails, traffic can temporarily divert final settlement to the other chain until the downed chain returns. The cost of such an attack, both in dollars and logistical complications will further discourage any attack from ever taking place. Yes, Bitcoin is the most important user of Litecoin. In the early days people often used Litecoin as a quick arbitrage coin to move value between exchanges and save fees. This was but a shadow of things to come. Combined with Litecoin's other redeeming qualities discussed in several questions above, it's closeness to bitcoin in code and culture have made it silver to bitcoin's gold in more ways than most will ever acknowledge. But in addition to some market based behaviours that are similar between silver and gold such as price oscillation, remember that Litecoin is also robin to bitcoin's batman, Daniel-san to Bitcoin's Miyagi, Pippen to Bitcoin's Jordan and a wink to Bitcoin's smile. Litecoin has outlasted untold bitcoin killers precisely because it never even tried to compete with bitcoin, but to help it, and in the process it has carved out its own lane to dominate and thrive with a little help from its most important user, Bitcoin. As a result of this longstanding and growing affiliation, software and infrastructure that is quick to add bitcoin is usually pretty quick to add Litecoin. And then users who are friendly to bitcoin are more friendly to Litecoin, ensuring enough volume and liquidity to maintain that infrastructure over time. Q. If Charlie dumped all his Litecoins, why would I want to hold them? He still uses Litecoin at every opportunity, including to make purchases to donate to Litecoin development. In the recent multiyear MWEB development rollout, funded entirely by community donations, Charlie personally matched every donation made. He's donated to other causes as well for both adoption and development and is almost certainly the largest donor so far, though other large donors like Ryan Wright are starting to step up as well. Charlie was being harassed before he divested with every Litecoin news item he posted accusing him of pumping and dumping on hype. Tons of founders and ICO scam artists were doing exactly that at the time, and Charlie figured that by divesting, he could assure everyone that his efforts and posts were to build Litecoin up rather than trying to profit off pumps and dumps. He underestimated the trolls, mostly big blockers back then, who then made his divestment their new favorite talking point, trying to make people think he'd abandoned the project. But in the course of divesting I think mostly for that reason, he accomplished something far more important that I alluded to in an earlier question. Litecoin now has no founder's stash, an element of decentralization that sets it apart from even the king of decentralization, Bitcoin. In many ways, Charlie has mirrored what Satoshi did when he actually stepped away from the project, abandoning bitcoin. Satoshi left and kept his coins. Charlie stayed and divested. I would imagine in the end both bitcoin and Litecoin will end up equal on these fronts, that eventually Charlie will move on, as a coin founder of a decentralized, public blockchain should, and that Satoshi's coins will be circulated as well, so neither will have either a founder's stash nor an active founder leading the community. For now, whatever his motivation, I find Litecoin more appealing for its lack of a founder's stash. Q. So you think Charlie is a saint or something? I think it would surprise most to hear that Charlie has said repeatedly he made more money out of bitcoin than Litecoin. It shouldn't be a surprise to anyone. He founded Litecoin in 2011, just two years after bitcoin launched, and he was obviously into bitcoin before that. He had a similar experience to many of us, bought some when people were talking about, and it went down after, but for anyone who got in then and stayed, I mean of course he made a fortune on bitcoin. And since Litecoin was fairly launched and he was just one miner alongside everyone else who at the time was eager for a coin to mine with lesser hardware than bitcoin by then required, his stash was never the size of Satoshi's, much less of these huge premined, ICO'd, centralized coin launches that are more common today. I especially think the hate around him is based on transparent lies. Don't believe me, DYOR. Step past the trolls for a bit and get to know him yourself. He's soft-spoken, the worst hype-master ever (my highest compliment for anyone), nice, and a constant advocate for bitcoin as well as Litecoin, something very in sync with the Litecoin community as a whole. We're all Bitcoiners in addition to being Litecoiners. Q. Doesn't Litecoin's success just comes from it being old? But it's not "just" old. Litecoin got old and outlived so many failed projects because it made so many right choices along the way. Q. If Litecoin is so great, why is the price so low? That's the first thing you have to think about here. Do you want to hop on board a project that already has most of its price appreciation in the past, or one that still has most of it's price appreciation ahead of it. Trend following does pay off for some people, but probably not as many as you think. I've seen trend followers lose money in every kind of market. Even in raging bull markets they fomo in at the top, panic sell the bottom of the next move, then buy back in even higher than first time, multiplying losses over time. And even if a trend follower gets in before the end of crypto's often accelerated trends, they are often more quiet about how much they lose on the trends that end right when the jump in. Litecoin is an amazing trading coin precisely because it has predictability. You don't have to wonder whether it's cheap or expensive, it has the most established ratio price history of any coin against bitcoin, and for that matter, the most usefully established history against eth as well. Both ratios are extremely useful trading pairs (even if you to do a multihop trade on an exchange that doesn't have the pair directly) against Litecoin. Since this is a proDYOR post, I'm not going to tell you where the cheap ratios and expensive ratios are. But the good news is, it's really, really easy to find on the chart. The trend followers would look at a ltcbtc or ltceth chart and jump on anything but ltc. A deep value investor will zoom out and look at what happened when litecoin was in a similar position in previous cycles. Q. C'mon. BTC has exceeded 3x its 2017 ATH, ETH has done similar. You have to admit LTC has failed is now going to fade to nothing. Here's the fiat price pattern to look for. Litecoin leads all coins, even bitcoin, out of crypto winter. It did 7x in 2015, 6x in 2019 (probably could've gotten higher but Novogratz bandwagoned a short campaign against it as it led the recovery rally, he failed and I wouldn't be surprised if he lost money on the bounce, but did put a little dent in highs). Then Litecoin hibernates around 18 months while other coins take off in succession, first bitcoin, then eth, then lots of others. In spring of 2017 and spring of 2021, Litecoin was off to the races in almost a perfect reflection of past price action, and most of you know what happened next. Maypocolypse affected some coins more than others, those that finished a rally well above their old ATHs before that date fared much better than those that were just cycling up for their run. Had maypocolypse happened in august instead, Litecoin likely would have reached $1000 before crashing back down to $400 or so, just as in 2017 it reached $100 before crashing back around the old 2013 high, and then set up for another year end rally to finish off in fine fashion. Now you can look at that maypocolypse price action and find your bias confirmed if you please. But I think the more clever and studious will see an even more extended opportunity to buy Litecoin cheap than exists in even a standard cycle. Bouyed by fundamentals and with long term price action far more visible than on newer, flimsier projects, Litecoin shows a base of epic proportions. Those of us who've had success trading litecoin have used it as an oscillator. When Litecoin is strong against bitcoin or eth, as it was dominating them in 2019, that's a good time to use your Litecoin to buy bitcoin or eth. When Litecoin is weak against them, as it is now, it's a great time to use eth and btc to buy Litecoin. Look at the charts yourself. It's a killer trade with incredible intelligence about what "strong" and "weak" mean buried everywhere in the long term price action. Anyone ever hear the phrase, "the longer the base, the higher in space?" We're about to find out if it's true. I can't think of a better test case than Litecoin given all the substance it has under the surface. This is the ultimate all cattle, no hat crypto, and even if all you want to do is check and see if substance matters, if hype is the only thing real in crypto as the nocoiners believe, watch Litecoin. It's the proof in the pudding. Deep Clucking Value. Q. Why is the value… clucking? Are you having a stroke? Q. TL;DR? [link] [comments] | ||
| Posted: 26 Nov 2021 12:50 PM PST yeah, then i bought my very first litecoin.. https://youtu.be/zZ9dtZ8lYww [link] [comments] | ||
| Posted: 26 Nov 2021 10:17 AM PST | ||
| Litecoin at the Macy's Thanksgiving Day Parade! Posted: 25 Nov 2021 01:02 PM PST
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| Posted: 25 Nov 2021 07:06 PM PST Hi, any suggestions for a reliable non-kyc fiat to crypto or crypto to crypto exchange that supports Litecoin. I want to start accumulating Litecoin regularly but I don't want to kyc myself. I would prefer a fiat to crypto exchange, but any reliable crypto to crypto exchange will work as long as it's non-kyc. I appreciate the help Litecoin fam. [link] [comments] | ||
| Posted: 25 Nov 2021 05:13 PM PST I was wondering how you can make dapps on litecoin? I downloaded omni lite but its just a wallet? I cant find any information on their website, on google or youtube on how to get started. Is it even launched yet? [link] [comments] | ||
| Posted: 26 Nov 2021 12:59 AM PST Hi to all. I am new to the project of mining, and i have some basics questions. I have download the"EasyMiner" App for my windows 10 PC. I have setup wallet from the "Exodus" app.
Thanks in advance [link] [comments] | ||
| Posted: 25 Nov 2021 02:54 PM PST Not trying to create FUD. Just some genuine questions. It's becoming obvious that regulators are going to target coins that don't have a transparent blockchain. There has been some debate and the consensus is that because it's optional, Exchanges won't delist. How would this affect coins that have previously been sent or received using MWEB? Will they actually be fungible if certain places won't accept them? Will they even be able to tell? Will the coins be tainted in any way? If there is a risk of delisting will miners even want to signal for it? If they can't readily exchange for fiat, I can imagine that causing problems. Could this result in a potential fork. Miners have made a substantial capital investment , so I can imagine them pushing for this, If LTC is removed from exchanges. Also to be a payment coin, most places will probably still use a payment processor and that requires an exchange. If MWEB does result in delisting, liquidity will be badly affected, again affecting LTC's ability to be an effective currency. Maybe these issues have already been discussed before and I've missed them? If they have point me in the direction of further reading. [link] [comments] | ||
| Posted: 25 Nov 2021 01:50 PM PST I've seen similar posts on the sub, but none with the same exact situation so I made this post. A few years ago, I had a wallet with some LTC, and I'm looking to see if I can recover it. I have had the Litecoin Core application for years on my computer (it's a much older version than current versions), and this is the same computer I first used to create the wallet. I opened the application, and I think the syncing process began (it took many hours). However, when it more than 98% done, it said the storage was low. I learned about the wallet.dat file and backed it up now, but I'm not sure how to proceed, or if that file is useful since it said it was modified less than a day ago (during the syncing). I tried to open the file but it wasn't readable by a human at all (not sure if that's normal). Should I free up storage and then click "Ok" and try to let it complete syncing? How should I proceed after that? I really appreciate the help! [link] [comments] | ||
| Posted: 25 Nov 2021 01:05 PM PST Do we know when we can hope to see the launch of Mimblewimble? [link] [comments] | ||
| Reason I Should invest in litecoin? Posted: 25 Nov 2021 12:14 PM PST | ||
| August batch second hand LT5 Pro--Sell on behalf of friends in Quebec. Posted: 24 Nov 2021 07:19 PM PST
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