This has been an exciting year for Litecoin!
Not only has the creator of Litecoin, Charlie Lee, left Coinbase to work full time on improving the long standing cryptocurrency; but the price per coin has seen a near 70% increase in the last month. (Early June to July 8th, 2017)
The price per coin has been on the steady upwards trend and staying fairly stable with mild fluctuations each day, with the peak point of LTC costing around $53-56 per coin and now stabilizing at around $50. It seems to be quite obvious that this coin is garnering more attention each day, part of that because it has the proven staying power and even throughout the years has kept the number four spot on the list of largest crypto-currencies. There is one thing that every LTC holder is interested in though... THE BIG MIT ANNOUNCEMENT
(http://litecoin.mit.edu/)
A lot of us are wondering if there is another pump and dump scheme amidst, even Charlie Lee has gone to Twitter to warn that this could possibly be a hoax; However there is still a glimmer of hope. The website teases a technology release slated for August 1st, 2017 by a MIT (Massachusetts Institute of Technology) student group project that is non-commercial. Mysteriously with just an email for inquires, and what seems to be a Litecoin address, with not a single notation to "donate" or "give here".
One thing that instantly came to mind upon discovering this page, was that MIT created Multi Miner. This is an application for mining and monitoring various different coins. Could this new technology be a more developed version of of this software, geared towards Litecoin mining? Possibly, the average transaction time for LTC is designed to be much faster then BTC, so what if the technology development is to recruit more into the mining business of Litecoin. Driving up it's popularity and eventually its value. Or is it more development of Lightning Technology?? Once again this would be another attempt at making LTC the more desired coin due to its transaction and processing speed!
At the end of the day we will just have to wait for the countdown clock to reach zero and hopefully see that this was not a hoax at all, but some clever student development to help the advancement of LTC!
Do you think within the next year Litecoin will truly become the silver to Bitcoins gold standard, or do you believe it has the potential to reach even farther with further development, lets discuss theories and speculation down below!
Also this is my first ever blog/ post so if it seems to be poorly crafted, I want everyone to realize I AM COMPLETELY NEW TO THIS!! Thank you for reading, I hope you all have a splendid day.
Until we hang out again lets all remember to LOVE GAME and EVOLVE TOGETHER!
-Cegan Family