Connect with us

Bitcoin

Here’s How And Why Litecoin Could Become The Next Bitcoin

Published

on

Litecoin is trading up

Bitcoin has been grabbing all the headlines over the last week or so on the back of its reaching all time highs just shy of $20,000 a piece before correcting to current levels in and around the $16,000 mark at the end of last week.

Another coin, however, has increased in value by a substantially higher multiple this year than has bitcoin – Litecoin. This week, Litecoin reached $150 a coin for the first time ever. On some of the more liquid exchanges, it’s going for as high as $190 a piece.  At the start fo this year, LTC went for around $5.

Why is this a big deal?

Many reading will likely have seen other so-called altcoins and ICO tokens run further this year and – as such – might be inclined to ask why a 3,000% or so run in Litecoin is that big a deal. The answer is rooted in prominence. Litecoin may long have been deemed the silver to bitcoin’s gold and – sure – over the past few years, it hasn’t gained anything like the traction that bitcoin has gained from a mainstream awareness and adoption perspective.

Litecoin Daily Chart

Litecoin Daily Chart

As we said last week, however, this is more to do with the driving forces behind the coin than it is to do with anything else and, with this disparity in scale of push between bitcoin and Litecoin closing of late, things are rebalancing.

Charlie Lee, the guy who created LItecoin, is now behind the drive for mainstream adoption full time. Previously, he was tied up as an engineer at Coinbase. While he was at Coinbase, a billion-dollar industry sprung up to drive the price of bitcoin upwards and, as the numbers above show, has been incredibly successful at doing just that.

We think Litecoin is next in line for this push.

The thing is, Litecoin is superior to bitcoin in many ways. It’s lighter (from an efficiency perspective), it’s quicker (from a transaction verification time perspective) and it’s far more durable in the sense that it can handle a maximum capacity of 56 transactions per second (while bitcoin can only handle seven and Ethereum can handle just 15).

As bitcoin adoption increases, transaction fees increase based on the difficulty rate associated with transaction verification increasing. At the same time, processing time increases (it shouldn’t, inherently, but it does as the Mempool gets flooded).

In turn, then, as bitcoin adoption increases, the problems associated with its widespread use are going to increase in prominence and – at the same time – people and companies are going to start looking for alternatives. Litecoin is an incredibly stable coin with a dedicated and very large following and, at the same time, has an established network of nodes in place that are processing transactions (mining).

It stands to reason, then, that as bitcoin adoption increases, the necessity for an alternative should arise. Litecoin provides one of the best, if not the best, alternatives in the space right now, so we can expand on the previous sentence and say that as bitcoin adoption increases, the popularity of Litecoin should increase.

While many won’t highlight this connection as being one of the primary reasons that Litecoin is rising in line with bitcoin, it very much is.

So what comes next?

We expect the current correction in bitcoin to translate to some Litecoin buying and – if this is the case – we don’t see Litecoin dropping back below the $150 mark anytime soon, if ever. As the overarching trend reverses to the upside in bitcoin, we expect Litecoin to track the trend and – with the added bonus of Lee’s presence pushing for mainstream adoption – we think there’s an awful lot of run room left for Litecoin going forward.

We will be updating our subscribers as soon as we know more. For the latest on LTC and BTC, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of BTC Keychain via Flickr

Bitcoin

Is Bitcoin Esport Betting the next big thing in BTC Casinos?

Published

on

Bitcoin Casinos

Ever since the creation of the first sport games, people started enjoying the betting process. As the sports grew more popular around the world, so did the betting community and other than the physical betting shops, online sportsbooks have also started to emerge. Around 5 years ago the crypto gambling industry also made strides to join the fun and Bitcoin Casino started pouring its resources into providing proper sportsbook experience for their communities of players. For several years the things were steady and the concept of Bitcoin Betting was growing exponentially. Although recent events have significantly halted the progress of sports and betting, the new alternative started gaining traction in the gambling world, and that alternative was the Esport Betting. 

How did Esport Betting become so popular?

The beginning of 2020 was unprecedented for the history of mankind and all the global business, including the gambling industry. In the month of March, most of the sports stopped because of the ongoing global Covid-19 pandemic and betting services witnessed huge losses. That’s where the Bitcoin Casino industry found a viable alternative in the virtual sport segment. Because of that, Esport Betting has become increasingly more popular and the biggest BTC Casinos started providing a huge selection of tournaments in their sportsbook section.

How to participate in Esport Betting?

Esport Betting is basically the same process as the usual sports betting.…

Continue Reading

Bitcoin

Bitcoin is Steadily Changing Our Lives in the Greatest Ways Possible

Published

on

Bitcoin

Bitcoin has already brought our world some of the most incredible innovation we have seen, but the best is yet to come. 

Bitcoin, cryptocurrencies, blockchain. While often regarded as mere industry buzzwords are actually the fundamentals of something far greater. Things like borderless currency, decentralized business, open-source software, collaborative technology, shared computing. These are just a scant few of the underlying principles that are taking our technology and daily lives into the future. Should these sciences be embraced, it will be a bright future indeed. 

It has become ever more transparent that humans today are living in fear. If nothing else, 2020 has brought the tidal wave of anxiety and distrust that many live in the shadow of, to a terrifying apex. We are all just waiting for the crash. While some flock to literature, or social media, or their favored news outlet, others flock to exchanges. Using platforms like the newbie friendly Bitvavo to place their bets on the future, on what could be, and what already largely is. Bitcoin and the technology that underpins its innermost workings are a preparation for a better tomorrow. An investment in a future that is already changing our lives today. 

The Point Behind the Hype 

In 2008, when Satoshi Nakamoto wrote the bitcoin white paper, few paid attention. It took years to…

Continue Reading

Bitcoin

AAX Crypto Exchange Announces Massive Growth Numbers in August

Published

on

AAX Exchange

As the crypto market continues to surge, new traders continue to enter the market on a daily basis.  One of the first questions that new traders have is where should they trade crypto.  While there are countless options for buying and selling digital assets, traders need to exercise extreme caution and perform due diligence to avoid scam exchanges as well as places that have limited or no volume.  While the main platforms such as Coinbase, Binance, and Bittrex will always have significant volume, their fees are known to be on the expensive side.  AAX, a next-generation cryptocurrency exchange with the lowest futures fees in the world, represents a compelling alternative that traders should consider.

Growth Announcement

A few of the most important issues to consider when deciding whether to use an exchange are the number of users and the volume.  On August 7, AAX announced that in a little over two weeks, the exchange doubled its user base bringing the grand total of registered users to over 200,000.  At this rate, AAX may surpass the million mark later this year which would be an incredible achievement and is most certainly due to a variety of factors including extremely low fees and revolutionary technology.

Institutional-Grade Exchange

When AAX decided to build its platform, it set out to meet the demands of both institutional and retail investors.  In order to achieve that goal, the exchange operates at the highest possible…

Continue Reading

Press Release