You like that headline? Me too. While the Bitcoin camp is fighting with themselves, Charlie Lee and the Litecoin community is actually working really hard on improving LTC.
As of right now, the way I see it, Bitcoin core is only a store of value. And that is great. I have not changed my opinion or forecast on the price of Bitcoin. And if Bitcoin improves, hell, why shouldn't it continue to grow? But Litecoin has the potential to be so much more than just a store of value, and not in some abstract unforeseen future, but even next year.
Here are some arguments for why Litecoin could reach that incredible sum
1. Litecoin has second mover advantage
I'm not sure if that phrase exist or if I just made it up, but Litecoin was the second crypto currency ever. People know about it, it has a nice ring to it, and it is a brand. You can say what you want, but those things matter.
2. Litecoin is silver
Even without other implementations and improvements, Litecoin would still be silver due to the facts I listed in #1.
3. Bitcoin cash is hated
I'm one of the few non-haters of Roger Ver and Bitcoin cash. But I'm pragmatic and non-feely when it comes to investing. Even if Bitcoin cash and Litecoin would offer somewhat the same tech, people would probably chose Litecoin just because they hate Roger Ver and Bitcoin cash.
4. Mast
Mast allows more privacy and allows for complicated smart contracts. Smart contracts are available on the LTC blockchain, but currently they are taking up a lot of space.
Mast will be released very soon probably. Could be a christmas present for Litecoin holders.
5. The Lightning Network
This is the big one. LN allows instant transaction and reduced fees.
LN is not developed by the Litecoin foundation specifically, but by something called Lightning Labs. The process of making this takes a long time, probably another year or more to scale it out. But it will come! And it will probably come to Litecoin first.
6. Atomic Swaps
Atomic Swaps allows people to trade one coin for another different coin without an exchange, also called cross-chain swaps. This will also take some time 1-3 years.
7. Colored Coins
Allows LTC to be repurposed to be attached to an asset (ICO's) Some speculate you can assign LTC to a computerized car like the Tesla and LTC could be given property to act like a key to the car which you can send through your mobile. High priority and maybe released within 2 years.
And there you have it. Litecoin foundation is actually working on several amazing and exciting projects, and not behaving like kindergarden children. I am very bullish on Litecoin and I do own quite a lot of them, so yes I am biased and NO this is not investment advice. Do your own due diligence.
