Once in a CNBC interview, Charlie Lee stated that LTC was the layman’s Bitcoin. When asked from a blockchain perspective, from a transactional perspective, may be not from a fractional perspective, the key differences in terms of the decimalization of Bitcoin down to 8 different levels, are they any fundamental differences on the backend of how they operate.
Charlie Lee stated that the main difference is that they use a different mining algorithm. So, it has different sets of miners than Bitcoin. It also is faster, has more coins than bitcoin has 4 times as many coins. Also, it is 4 times faster. So, Bitcoin transactions happen every 10 minutes, and on Litecoin transactions happen every 2.5 minutes.
These facts are considered to be interesting because even in terms of Altcoins history is repeating and the same narratives repeat like Litecoin is the silver to Bitcoin’s gold, which are the same narratives which have been doing the round for nearly 4 or 5 years ago.
When looked from the perspective of why Institutions are not caring much about Litecoin as much as they have been about BTC: The reason being the price of the Litecoin as priced in Bitcoin has been a slow grind towards zero with a few pump and dumps peppered in. What is seen is that Litecoin is way up in terms of USD value, but in terms of BTC value it is way down.
This does provide for swing trading opportunities, but who are bullish depends upon their perspective of what they are trying to achieve.
One of the Litecoin miners with real time experience stated, he has been having a great time with DOGE mooning. However, he stated that he is an LTC hodler. Further stating, how he has been moving large sums of money between exchanges by using Litecoin.
Several others acknowledged that when they buy or sell precious metals that they transact in LTC. It just looks like LTC is shocking new entrants as there is not much of hype about it. However, many have to state that it is coiling up and is ready to strike.
Many of them who bought LTC/BTC when it looked cheap are not happy because it has begun pumping. It just looks like those who hold LTC are likely to become wealthy soon.
For those who are wondering of Charlie Lee will Dump: “Satoshi is a risk for bitcoin. Litecoin doesn’t have this risk. Charlie lee sold his Litecoin below the current price of Litecoin today. Charlie lee continues to work on Litecoin because he loves the project & wants to see Litecoin become a global currency. It’s his baby.”
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