Interestingly, this discovery has coincided with a kind of global awakening. Hitherto, man-kinds process of power has been an external exploration. Our fuels have mirrored the suns explosive qualities e.g. all forms of combustion used today are outwardly explosive in nature ie. We blow shit up or burn stuff for fuel, basically. But humans are going through a revolution. The external fuels are running out and we are experiencing the limitations of this external form of combustion. As we reach these limits, we are being forced to turn inward and seek alternative means of power. For example, many new homes are turning to thermal powered heating, drawing on the earths seemingly unlimited power from deep below.
See the thing about the Sun is it is very far away. The further something is away, you could say, the more elite it is. It's just sitting there, thinking the whole world just spins around it, and I guess it does. But you know it's very hard for us to really do anything with that sun. We can put out some solar panels and try and capture some of its radiation, but it's a kind of weak victim-like way of sourcing energy, isn't it? Meanwhile right below our feet there is this source of power, something we can literally feel with our feet.. you know like it has that underground feeling, like the original crypto vibe that was around in the early days before all these muppets got their 2 mins of fame and decided to use the sun for their own egocentric agendas. Now just like it's always been, they tell us what Bitcoin is for. It's a store of value. It's a gold replacement. Right? Well, yeah, Bitcoin isn't going anywhere - but it's not everything - and for the first time in crypto history many dedicated hodlers have started seriously diversifying their portfolio to hedge against Bitcoin .
Bitcoin transaction fees are higher than what 99% percent of the avg . slum dogs total transactions are even worth. Now if you are in the 1% of people who can afford bitcoin - kudos to you. And there's some trillions of dollars of potential investment that can come from Silver and Gold holders, sure. Can't argue with that. But Bitcoin as a micro payments? Isn't going to happen. I think it's safe to say Bitcoin has now made the phenomenal leap to being known worldwide as a serious investment. That level is now unlocked. Sealed. Nailed it. Aren't you such a smart little genius for being in early. Next step of growth however is micro payments. Making payments affordable and so easy that the masses can use.
Agility is the key here. Years of debates is not what is needed. Swift shifts. Focused, clear and strong decisions like what we have seen from Charlie Lee and the LTC community. But forget about what Charlie is doing - what are you doing? How many purchases did you make today and asked the seller if you could pay with Litecoin? How many lambo dealers did you make an offer, but only if they accept the Lite? How many web cam girls did ask for a private show and tip with the Chikun? Hmm?? Stop waiting for the Chikun to rise, and rise for the Chikun.
1. What do you see the biggest obstacle to mass adoption of Litecoin?
2. What is the most simple thing Litecoin could in any area do to improve it's usability?
3. What is one thing Litecoin could let go of / remove to increase it's value?
Here are the fundamentals I find most valuable about LTC:
1. The most loyal bag holders in the entire crypto space. Loyalty like that is hard to come by. There’s a reason why Litecoin has been able to garner such long lasting support. No other coin has this kind of dedication from its holders besides Bitcoin
2. It is the first alt coin which aimed to solve the monopolised mining issues Bitcoin has which still has not been solved to this day. All other alt coins are not Bitcoin replicas - they are Litecoin replicas. A massive perceptual flaw people have made there which has suppressed it’s value is that LTC is a follower and not a leader - the penny will drop and people realise the weight of that logical error.
3. It’s hype machine is not perfect, but you know how easy it is to hype something? Real easy. Anything can be hyped, even things which have no loyal following. Now apply a hype machine to the coin which has the most loyal and long lasting following.
4. Branding is newb friendly. Silver to bitcoins gold. Good luck trying to come up with something better than that. If we are truly in the period where adoption of crypto currencies is reaching the masses, simple and easily relatable brand image is going to be worth more than gold. Compare it to 95% of the rest of the coins - show their marketing to your moms and dads and see what they think about ‘hardfork voting’ and ‘proof of stake’ as a marketing message. Those tech upgrades mean literally nothing to 99.99% of the market coming to crypto.
5. The crypto space is being hijacked by banks and centralised corporations. Litecoin support is a coin we all know as the underdog of crypto. It’s not run by elitists with big pockets and great strategic pump mechanisms in place. We will see an increasing wave of support for Litecoin as we have to pull together and support it or else face the sobering reality that crypto will be run by ethereum and ripple. Who else really stands a chance?
6. The underdog myth. Litecoin is the oldest underdog. We love the underdog. And who can’t relate to Charlie’s story? A genius who has a vision up against the big giants. Constantly held back as it tried to rise up. And just when everybody thought it was defeated, it rises. It shatters beliefs. Charlie walks away from his reliable and successful job to return his focus to LTC. Right there is a story that every person in the world wishes they could have.
The key proponent for this is that this coin has the right vision and values and that we all collectively rally around this vision. All of this centres around leadership. And we as a community have not been doing this. See the rise of unlimited new coins competing instead of working together. We are not working together and we have become a reflection of the very fragmented, elite banking system we apparently oppose. Look what is now dominating as a result. Who's to blame? You can blame corruption and fraud and all of that, but if you want to know who is really responsible just look in the mirror.
Xinxi Wang, director of the Litecoin Foundation recently tweeted this: "The Litecoin brand truly means integrity, honesty, and fairness. That’s why I joined the team. #LTC $LTC #litecoin". And if you ask why people are so loyal to Litecoin, you will find this same message echo'd repeatedly in more or less the same words. If you watch Charlie Lee's talk on youtube about how and why he created Litecoin, it's easy to establish the integrity of Litecoin - that he saw the problems with pre-mining coins and also with the monopolisation of mining so he wanted to make something that was true to the real vision of a decentralised currency. Now, does Litecoin have the most superior tech of every alt coin? No. Does it have the best hype machine? No. But does it have the most stable promise and the longest commitment to maintaining it's integrity? Absolutely. It's not even a question. Does it have the most potential for the most people to rally behind? Yep - there are no holders like Litecoin holders. Is their branding something relatable which the hoard of masses incoming will ‘get’? Yep. Is it willing to be helped by the community? You know it - they are asking for it.
Ok. lots of work to be done. Go. Do what must be done.
2. Confirmation will be added to Bitstamp on Monday (https://twitter.com/Bitstamp/status/875394226384769024) forget ALT pump weekend - this is Litecoin weekend.
3. Bitcoin in disarray - people lining up to buy LTC as a hedge - as BTC dumps, LTC has shown to be the most stable safe haven. Many other factors why hodlers are going to buy LTC as a security measure against Bitcoin dumpage. See https://twitter.com/ARKblockchain/status/875362855167643648
2. Major resistance broken.
3. Chinese year of the Rooster.
2. Chinese exchanges Huobi & OKCoin are working on integrating Lightning Network support. So we're going to see a massive increase in LTC usage for withdrawals and deposits so that traders and investors can take advantage of lower fees and faster transaction times. Offering this competitive advantage will see other exchanges follow suit.
3. It's not just the year of the Rooster, it's the year of the Fire Rooster which which @BruceM8 wrote about below. Read his comment
So what's new?
1. Same stuff all still applies. Split threat for BTC - we gravitate to coins now which are a) a real store of value b) we trust c) have already successfully ventured through the unknown waters we want to go.
2. Litecoin wants to be #2 http://flappening.watch/
3. Yahoo Finance adds LTC charts, no big deal. https://www.reddit.com/r/litecoin/comments/6nbw29/litecoin_has_been_added_recently_as_an_option_at/
4. Charlie is still a rock star, flying into china and shit like a boss and making things happen.
5. LTC added to Japan's biggest exchange https://twitter.com/bitFlyer/status/884986960292573184
6. In the last alt blood bath, LTC held up incredibly well. Barely affected.
This is how it works. How it always works. In times of chaos we look for what is the most stable thing to follow. It's human nature. So we look for strong leadership to guide us. We look for what has already been through what we are about to endure. What can give us confidence and opportunity. Squabbling doesn't breed confidence. Political debates don't breed confidence. Greed doesn't. Anger doesn't. Centeredness does. Quiet confidence does.
Eventually everything comes into the right equilibrium. Everything finds its place. And LTC will find its place many multiples higher in value than what it is now.
Checkout this LTC USD chart. We are still in a bull channel.
LTC now has an inverse correlation to BTC. And now BTC price is dropping now that SW is activated. Same thing happened to LTC. It's a buy the rumor sell the news situation as always.
Now even though BTC price is dropping, faith in BTC will follow and we can expect it to rally. Maybe not today, but big things are coming. And Bitcoin will always need its Litecoin. Just a testnet you say. Yeah just a testnet to what could be the worlds biggest investment since the internet. Just a testnet. Please. People say that, but they don't say what a testnet is worth to a trillion dollar coin. Spoiler: it's worth a lot more than it is now.
Now I'm going to load up Charlie Lee's twitter and see what else I can shill to you.
Ok, listen up. Hot of the twitter press. Charlie is sharing gifs of baby's eating segwit images and also posting random numbers for no apparent reason. If that's not a sign of confidence I don't know what is.
Zooming out at the bigger timeframes, getting a bigger view of the whole solar system you can see we still haven't even broken out of this massive down trend. And now we've just done what looks like a triple bottom here at this price range. I still maintain the position that LTC is worth 5 - 10x what it is now. When this thing really breaks we are looking at .1 to .15btc. It'll happen, eventually.
It's got to do with entropy. The tendency of all matter and energy in the universe to evolve into a state of uniformity. Ultimately there is nothing substantially different between LTC and BTC which would have Litecoins 84 million worth less than Bitcoins 21 million. Branding and mining technical differences which give each other pros and cons which balance each other out. As the years roll on, it will be less and less significant that bitcoin was the first crypto, and LTC and BTC will be grouped together as bffs, potentially as one and the same. They are the most valued precious metals of the digital age. Just take a moment to touch yourself that you are fortunate enough to be here. Use one hand though to keep scrolling while you read.
This is all still in super infancy stage. I don't see any one-click accept litecoin on your webstore integrations. Who's working on onboarding the new money? Where's Litecoin's Bitpay? That's what I would really like to see more. I'd like to see a revamp of Litecoins marketing and tools so that it's all on the same page. More adoption tools for newcomers. It currently feels disjointed and yesterday. LTC's ability to move and adapt quicker than btc is it's great power and while BTC is politicising amongst itself, this is where Litecoin can take advantage to balance out and correct it's position in the universe. When it does break out, you better hope you've got both hands back on the controls of this space ship.
Most don't see because they are looking too closely. They need to zoom out. Understand the scope of this thing when it takes off. I doubt the bars will even fit on the chart above.
NB:- I'm looking for help with writing some indicator scripts. Willing to pay in LTC. I want to plot moon phases on a chart so I can see full moons, dark moons, quarter moons etc. Actually all 8 phases of the moon. If this is something you think you could help with or know somebody who can - get in touch.
Why? We knew. We know our place. Our position. Complete and simple was our proposition. Theirs? Too complex. Ours undeniably powerful in its simplicity. Unbreakable like a diamond. Untarnished, like silver. Their allure was transient.. trendy.. ephemeral. Ours enduring, timeless and complete. We are trustworthy and why we are able to be the coin of choice for merchants worldwide.
We are Litecoiners. Enabling the most secure and trusted decentralised payment in the known universe. We're not going anywhere. Get on now or get on later. Either way - we're here to stay.
Now, I believe LTCBTC will grow to at least same ,17ish in near future, but I'm so afraid of the BTC burst as it did in 2013. If that happens, short term investment in any xxxBTC would be doomed.
My plan is to cash out and wait for the bubble pop with a religious hope (though I'll keep my XRP because they hold the faucet).