Litecoin 2018 Price Prediction $1000!
Over $12B worth of LTC has been sent in the last 24hr. That's almost 95% of its marketcap. See how this stacks up against the other coins. Litecoin IS the payments coin!https://t.co/oyU0PzHSdR pic.twitter.com/rsndJahaKF
— Charlie Lee [LTC] (@SatoshiLite) January 5, 2018
For the next release of Litecoin reference client, we will reduce the relay fees from 0.001 LTC/kb ($0.30/kb) to 0.00001 LTC ($0.003/kb). We hope to have that out next week. Once people are using the new relay fees, we will reduce the actual min fee to 0.0001 LTC/kb ($0.03/kb).
— Charlie Lee [LTC] (@SatoshiLite) January 6, 2018
Litecoin is often compared to Bitcoin, and for good reason: the two digital currencies are closely related, with Litecoin having been heavily influenced by its older peer when it was developed in 2011. Both share a deflationary nature, with the supply set to taper in the next few years.
While it has remained the dominant player and continues to be largest digital currency by share of market cap but Bitcoin is losing some ground to other digital currencies on questions of mining efficiencies as well as how expensive it is now to buy.
First, Litecoin has a lifetime cap of 84 million coins, which is four times higher than the total number of Bitcoins that can be mined. This means that as demand increases, there will be a larger supply of Litecoins to meet it, at least ins, which is four times higher than the total number of Bitcoins that can be mined. This means that as demand increases, there will be a larger supply of Litecoins to meet it, at least initially.
Quicker Block Generation
Another way that Litecoin may have improved upon Bitcoin is in regard to its block generation time. Litecoin has a time of 2.5 minutes, compared with 10 minutes for Bitcoin. In practical terms, this means that transactions involving Litecoin will be confirmed four times faster than those for Bitcoin.
For investment purposes, this means that users will spend less money paying to buy or sell Litecoin than they would Bitcoin.
Mining Is Easier
While Litecoin and Bitcoin share the proof of work concept when it comes to their mining operations, the algorithms that the two blockchain systems use are quite different.
Litecoin's mining algorithms are significantly simpler than those of Bitcoin, meaning it can be mined on computers which are less powerful and that it will take less energy. Considering that mining operations around the world take up massive amounts of electricity and there is already a shortage of powerful graphics cards needed for mining rigs, this could prove to be a major advantage for Litecoin miners going forward.
HODL the motto of Bitcoin it came from this forum post: https://bitcointalk.org/index.php?topic=375643. While people generally don't HODL Litecoin there's an interesting side note from all these transactions. Anyone who has been in cyrpto for more then a year most likely made a transaction with Litecoin moving from exchanges converting from other Cyrptos. Generally not all the Litecoin is converted little pieces remain inadvertently HODLING these add up over time you could call it Litecoin destruction or dormant Litecoin reducing total supply in circulation.
Now to the charts Litecoin is approaching or has overtaken Bitcoin in most of these charts!
Bitcoin, Litecoin Median Transaction Value chart https://t.co/8XIPSlWPnr
— englishinvancouver () January 7, 2018
Bitcoin, Litecoin Avg. Transaction Value chart https://t.co/PIfgngg3vP
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Bitcoin, Litecoin Sent in USD chart https://t.co/eG82e3C3NL
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Bitcoin, Litecoin Transactions chart https://t.co/obKkogFGFl
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Bitcoin, Litecoin Active Addresses chart https://t.co/6VWBPpOGsL #litecoin
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Bitcoin, Litecoin Tweets chart https://t.co/0Jpyye7sk9 #bitcoin #ltc #litecoin
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Bitcoin, Litecoin Sent from addresses chart https://t.co/g3OG2WEE6T
— englishinvancouver (
Another important measurement is network security, it's great to see that Litecoin hashrate has gone up 4x in the past 3 months. pic.twitter.com/GdHRiXPo2C
— Charlie Lee [LTC] (@SatoshiLite) January 4, 2018