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r/CryptoCurrency
225
Posted by
Fish and blue chips, rooibos addict.
2 months ago
PlatinumGoldHelpful (Pro)HelpfulSilverI'll Drink to That

To those with heavy BTC bags, or maxis who contribute in this sub and/or lurk, what do you all think of Litecoin? It shares a lot of what makes BTC so good.

It's proof of work, limited supply like BTC (84m), no pre-mine. Good for payments, widely accepted everywhere that BTC is, it's decentralised, and the creator sold his LTC in 2017 to free it from any centralisation. 10 years old and has stood the test of time, is still being actively developed.

It clearly works very well as a payment system, and if we consider BTC digital Gold, could litecoin be considered silver? Silver is much cheaper than gold, less desirable, but has its usage and just quietly goes about its business.

People praise BTC for many aspects which LTC also has, and arguably does some things better, yet it kinda just sits there, existing.

I'd love to see some of your perspectives on it.

I did try to post this to the bitcoin sub, but quelle surprise it wasn't approved, because anything other than BTC is a shitcoin, amirite?

411 comments
72% Upvoted
level 1
· 2 mo. ago
Bronze | r/WSB 13

Love some LTC. My first crypto I dipped my feet in.

I remember when the creator dumped his bags and everyone got mad, but I respected it.

It’s been “lowkey” but hanging in there, and I believe in the whole “silver” to bitcoins gold.

14
level 1
· 2 mo. ago
Tin

Honestly, it is underrated at present. The future is bright

13
level 1
· 2 mo. ago · edited 2 mo. ago
Platinum | QC: CC 26 | CelsiusNet. 6

Only problem with LTC is that it is too much like BTC. When two things are so similar rarely do both end up on top. Why is LTC needed when there is already BTC? The same question can be ask about why BTC is needed when there is LTC. BTC has a big adoption headstart and unlikey LTC will close the gap. There isn't a need for two cryptocurrencies that do almost exactly the same thing with little differentiation.

266
level 2
· 2 mo. ago
Platinum | QC: LTC 603 | BCH critic | TraderSubs 593

Litecoin has an MWEB privacy option now, so there's a good argument it's actually better.

36
level 2
Op · 2 mo. ago
Fish and blue chips, rooibos addict.

That's a good point, especially now that BTC has lightning, in which one of LTC's main selling points was how much quicker it was than BTC.

74
level 2
· 2 mo. ago
Platinum | QC: CC 435

Agreed. Are there any benefits to ltc over btc? If not then why not just buy btc

7
level 2
· 2 mo. ago
Platinum | QC: CC 397, LTC 26, ETH 15 | CRO 5 | Politics 50

MWEB makes Litecoin way better than BTC in terms of cash. And it’s always better to be able to spend on Layer 1 if possible.

There are a lot of great things about Litecoin and Bitcoin and they can very easily compliment each other rather than compete with each other.

5
level 2
· 2 mo. ago
Platinum | QC: BTC 41 | Stocks 84

Every day if the week I could spew out a new copy of Bitcoin, why is any one better than the rest?

Doge is also a copy of Bitcoin code, made as a joke with massive supply.

17
level 2
· 2 mo. ago
Bronze

It’s an alternative long running POW digital asset. It doesn’t need to differentiate.

What special abilities do you get when you hold a Canadian dollar over an American dollar other than places it’s accepted?

BTC and LTC can both be legitimate and successful digital assets.

28
level 2
· 2 mo. ago
Bronze | LRC 5 | Superstonk 16

I'm wondering if it will be disirable because it is way cheaper and a bit less scarce. I'm a big fan either way... of both.

2
level 2
· 2 mo. ago
Tin

Because LTC has *no* fee (maybe 2cents) and takes 2 minutes to send/receive...
i haven't used BTC in years, unless i had to.

3
level 2
· 2 mo. ago
Crypto is my personality.

Ask yourself about Coca Cola vs. Pepsi. I like Coke, just preferences maybe.

2
level 2
· 2 mo. ago
Platinum | QC: CC 182

Another problem we have is that whatever is #1 people don't criticize. Many criticisms a maxi would give about any other coin are valid concerns for Bitcoin as well. The history of Lightning (today is my rant day, apparently) and how the easy single-integer change to solve the scaling issue was ignored in favor of the Lightning network should still get more focus and constructive discussion than it does. Blockstream pushed and lobbied for the Lightning network, and it was so unpopular that it caused a fork.


Mentioning anything about this will literally get you banned out of the Bitcoin sub. Meanwhile, if you went to that sub and said something like "Man, did you see this corporation called Blockshatter is coming out with some sidecar network to allow DOT to scale with more TPS?", everyone would shit on it so hard. "Why are people wasting their time with this trash, BTC is king!!!"

2
level 2
· 2 mo. ago
Tin | 3 months old

LTC will be adopted by Walmart soon /s lmao!

-3

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