Litecoin (LTC)
Litecoin (LTC) price, charts, market capitalization, history. Check Litecoin live and history price in charts and tables, do analysis with special LTC tools below. Litecoin is a peer-to-peer cryptocurrency and an open source project. It currently ranks high of the cryptocurrency trading charts. While it was heavily inspired from bitcoin itself, Litecoin was always meant to be the silver to the bitcoin’s gold standard. While gold is in short supply and is quite expensive, Silver is much more widely used and has the liquidity to become a real mainstream currency. This is the reason why the silver bitcoin analogy was used by the creator of the Litecoin for the new currency. The Litecoin is however faster and by design much offers much more liquidity than bitcoin. Its extremely fast Lightning network offers four times faster transactions than bitcoin and has almost negligible costs associated with it. Litecoin was also the first cryptocurrency to adopt the segregated witness protocol (SegWit). Yes, the same aspect which resulted in a hard fork of the bitcoin on August 1st 2017. It can be mined using a proof of work system that is different from bitcoin. Litecoin and cryptocurrency market never sleeps, so Litecoin price changes every second.
Litecoin price chart
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Who created the Litecoin? It was created by a former Google Employee Charlie Lee. It is primarily a fork of the bitcoin core client in many ways. But, its decreased block generation time of 2.5 minutes and easier proof of stake mining process made it extremely different from bitcoin overall.
How is it useful? Litecoin is extremely fast. It is probably the fastest cryptocurrency ever created due to its lightning network. Its transactions normally take less than one second to perform. So all these extremely useful features mean that litecoin has a part to play in the future of cryptocurrency, both as a cheaper alternative to bitcoin and a faster one too.
How can it be used to help solve problems? Litecoin is a safe, secure and proof of work based cryptocurrency. Litecoin has always been correlated with the bitcoin value just like silver is always correlated with the gold value so on that front, litecoin may seem a good long-term investment.
Where to use in real life? It is also the coin people use on its own rather than trade it for BTC alone. A majority of litecoin buying is not done via BTC but Chinese Yen. The Chinese traders have taken a liking to the ultra light bitcoin alternative. This shows the inherent value of the coin and its deployed systems. Most other cryptocurrencies including even Ether are used to trade back to the bitcoin which can be considered as the British pound of the cryptocurrency world. But, Litecoin is mostly bought and then liquidated directly to fiat currency.
Today Charlie Lee tweeted good news for LTC Litecoin:
Litecoin dev update: we are working on the next release of Litecoin Core and will reduce relay fees to 0.01 lite (0.00001 LTC). Should be released soon. The release after this one, we will reduce min fee to 0.1 lite (0.0001 LTC). I'm also finishing up my fee signaling proposal.
How do you think this will impact the price of LTC?
Did you see that Charlie Lee, the founder of Litecoin also sold all of his Litecoins. He says that after selling all coins he earned so much and he made some charity. Is it the beginning of the end? He says, that he will continue his work with Litecoin full time. Here is full text from Charlie Lee:
Over the past year, I try to stay away from price related tweets, but it’s hard because price is such an important aspect of Litecoin growth. And whenever I tweet about Litecoin price or even just good or bads news, I get accused of doing it for personal benefit. Some people even think I short LTC! So in a sense, it is conflict of interest for me to hold LTC and tweet about it because I have so much influence. I have always refrained from buying/selling LTC before or after my major tweets, but this is something only I know. And there will always be a doubt on whether any of my actions were to further my own personal wealth above the success of Litecoin and crypto-currency in general.
For this reason, in the past days, I have sold and donated all my LTC. Litecoin has been very good for me financially, so I am well off enough that I no longer need to tie my financial success to Litecoin’s success. For the first time in 6+ years, I no longer own a single LTC that’s not stored in a physical Litecoin. (I do have a few of those as collectibles.) This is definitely a weird feeling, but also somehow refreshing. Don’t worry. I’m not quitting Litecoin. I will still spend all my time working on Litecoin. When Litecoin succeeds, I will still be rewarded in lots of different ways, just not directly via ownership of coins. I now believe this is the best way for me to continue to oversee Litecoin’s growth.
Please don’t ask me how many coins I sold or at what price. I can tell you that the amount of coins was a small percentage of GDAX’s daily volume and it did not crash the market.
UPDATE: I wrote the above before the recent Bcash on GDAX/Coinbase fiasco. As you can see, some people even think I’m pumping Bcash for my personal benefit. It seems like I just can’t win.
Yes, he is smart. Now very rich and smart :) tries to look good and go away from his own project. He did a huge 3 days job when he started promoting LTC on TV, pumped the price and left. Everyone tells that LTC price is overvalued now with $350. Wait for big DIP!
It’s amazing how early we are in the crypto asset world and people are whining that they missed the Bitcoin, Ethereum, Litecoin opportunity or how late they noticed cryptos. Even 3 years from now, it will still be early.
Yes, i agree. I would add IOTA and DASH to the list :) but might be more. We have to wait for a bubble explode, then we see who stays, who is out of the game.
Today we're excited to announce the first ever Lightning cross-chain swap from Bitcoin to Litecoin!
I liked the way Charlie Lee reacted to this:
"I believe you guys have been waiting for this! Now that Segwit2x is canceled and SegWit haters have their own coin to play with, it's full steam ahead with scaling Bitcoin/Litecoin with LN and other 2nd layer scaling solutions!
LN atomic swaps are much better than on-chain ones because it's instantaneous, low fees, and preserves privacy. 2nd layer off-chain solutions like LN are only practical with a transaction malleability fix like SegWit. So thanks to everyone's hardwork on getting SegWit activated!"
