Litecoin's whole sales pitch is "faster Bitcoin", but there are plenty of altcoins out there that absolutely decimate Litecoin in speed. Litecoin's block times are shorter so you can get a confirmation faster - but it's still slow. 2.5 minutes is nothing to write home about. But even in this scenario, most exchanges just increase the number of confirmations required - completely negating the speed increase anyway. Even if they didn't, 2.5 minutes is still slow compared to altcoins with sub 1 second transaction speeds.Litecoin's fees are smaller due to the shorter block interval and SegWit blocksize increase. They're also smaller due to the usage of the network being far lower than that of Bitcoin. Nobody uses Litecoin for payments, so it doesn't reach a point of congestion like BTC does, allowing a fee market to develop and cause high fees. That's great, smaller fees are nice, but again, there are altcoins that do this 10x better - even at scale and high usage.Litecoin's marketcap is extremely high, and is overvalued. The upside potential in holding Litecoin right now is extremely low. If you want to invest in a high marketcap coin for a profit, invest in BTC or something else around the marketcap of LTC. At least the other projects around this marketcap are unique and offer something to the market - Litecoin is literally just a Bitcoin fork. If being a high marketcap coin isn't the reason you're invested in LTC then you have plenty of better alts to choose from in the lower marketcap ranges.Litecoin hasn't seen any development since April last year. https://ift.tt/2iijGMN - and past that point, the development that has happened has simply been merging Bitcoin's contributions into the Litecoin codebase. Nothing innovative has ever been offered. Some people will say "but maybe MimbleWimble is coming some time in the future" - who cares, if you want a privacy coin there are better options on the market. Besides, if LTC gets MW then BTC will probably get MW, and then again it's a case of "just use BTC instead". Invest in the now, not future promises that may never result in anything.Charlie Lee, founder of Litecoin, sold his whole stack of LTC 3 years ago at the ATH and never bought back in. If you want more proof of how dead LTC is in terms of innovation/tech/code look here: https://ift.tt/396EmUh - Basically a flatline since 2019. Even before then, the activity was just merging BTC code changes. If the founder doesn't even believe in his project, why should you?As far as I'm concerned, there's no rational reason why anyone would buy Litecoin right now. As far as I'm concerned, it's one of the most overvalued cryptocurrencies in the sector, and it needs a huge correction. Rightful place is 100% without a doubt out of the top 10. The only thing keeping it alive right now is miners and market manipulation by the mining cartels. It's a Sunk Cost Fallacy to continue to hold Litecoin over the vast array of better options in the market. If you're going to get into crypto, at least buy something that contributes to the space.Why am I posting this? Because it pains me to see such an undeserving project in the top 5 eating market share of something innovative that could bring the whole space forward. You'll also notice I haven't told you what alt coins are better, because I'll just get labelled a shill, so DYOR.
Submitted January 07, 2021 at 07:07AM
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