i hope it does crash so that people get away from it and the difficulty for mining drops for a few months then maybe shoot up again next year.
Litecoin, by its very nature is designed to be spent.
It is Money !
What we are seeing in the markets today is the Crypto space going public. The general public are being made aware of crypto, especially Bitcoin- it is in the news almost evry other day.
This is a good thing, it is what we miners have been pursuing for several years now. Sure, the mining difficulty goes up, and we are mining fewer coins, but the price of each coin is correspondingly higher.
At US$ 300 a coin, I am sure we will all make a profit if we sell some of our coins.
Don’t forget, we miners are the very source of coins. We are the Bank of England as far as issuance of the currency is concerned. So what we need to do is get our coins out there. We need a wide customer base of everyday people using and spending Litecoin. The price may go up, the price may go down, but we need to ensure acceptance of Litecoin with the Public. After all, there is no point in us miners trading amongst ourselves is there ? We poor geeks don’t have any money - that is why we are mining ! So go out, spend some ( not all ) of you coin, give Wall Street a Litecoin Boner, because they are the people with the money who will buy into it, and ultimately drive the price even higher !
Very well said. I think Litecoin is still flying under the radar of the general public, definitely much less visible than Bitcoin and Ethereum.