I wanted to raise this discussion to see if there is anything on the subject of the Litecoin Card…
Is it still functional and if so why is it not shown everywhere as a means for crypto investors to spend their gains through LTC?
How many of you knew this service existed?
I knew it existed, but I deemed it pointless. I prefer to be paid in actual Litecoin, but I almost can’t find someone that is willing to exchange their Litecoin for something that I could provide.
This would also defeat the point of Litecoin. Unless there is an economy to back Litecoin (we barely have that nowadays), how it is going to stand on its own? People seems to still be buying Litecoin, solely on the belief that its price will go up and will work as a hedge against inflation, but nobody explains how it’s going to go up beyond greater fool theory.
Also, there haven’t been any gains for Litecoin in the past year, so there are no gains to be spent. It would be quite pointless to load a credit card with Litecoin, only to see your purchasing power dramatically decrease over the months. The unstability of the market makes this business model hard to come to fruition.
you sound as though you don’t understand Litecoin or the future of crypto in general. Do you think Bitcoin won’t become a world reserve currency? can you not see the adoption rate increasing over the years?
And most importantly LTC was designed with the exact thought of using it as payment and there is a difference between retail use and investing. For users who may not own any Litecoin and want to send a transaction anon* then now they can. What’s more is that the user also has access now to a financial avenue where he doesn’t have to pay extra fees in order to buy a product (going to exchange, convert to usdt, ect…)
Again i dont mean to be harsh but your response shows the ignorance and lack of foresight to what LTC is and how it can impact the future.
Litecoin card is exactly what LTC was built for
No, I do not think that. I can see the speculation bubble and hype increasing over the years, but not adoption. Bitcoin, as it is being used today, has a ponzi-esque structure: the purchase that is done by the late comers fuels the purchasing power of the early comers.
Litecoin also suffers from the same problem (the buying from the late comers gives purchasing power to the early comers), but because Litecoin is prone to crashing hard (the whales make reliable dumps to drop the price, which make noticeable patterns in the exchanges), this problem isn’t as noticeable as Bitcoin.
When buying a cryptocurrency, I ask myself: Who am I financing? — If I were to buy Bitcoin, I’d be financing Tesla, Michael Saylor, Justin Sun, the EOS foundation, Nayib Bukele, the Mt. Gox hackers and many other notable holders of Bitcoin and the minor annoying holders of Bitcoin that promote the irrational creed of Bitcoin. Why would I do that? It doesn’t benefit me the least, but surely benefit those that are pumping Bitcoin.
I would accept Bitcoin as payment (not giving a discount, but a penalty to account for volatility), but I would not hold it, promptly converting it to something else.
I’ve been watching the behavior of the Litecoin whales, and I like it, thus I accept Litecoin and hold it (when the price is more realistic, such as the past days). I do not mind financing them with my buying activity.
then we do see very different things indeed. I will say that your comment about Litecoin and you financing them is not true. They can’t take your LTC, it’s yours. So looking at it from that point of view I don’t see how you buying LTC doesn’t benefit anyone but you at the end of it all. You are apart of a greater journey and whether you like it or not BTC benefits those who saw the potential early, the same as you are doing with LTC.
Looking purely from a price perspective there is always something wrong. My point here is that clearly you don’t see a use case for LTC… so why invest in it? IF you think it’s all a ponzi then just sit in stables and collect a yield.
LTC like BTC is form of digital property and energy used in the future. It’s much more than just what you lay out above…far more
“the irrational creed of BTC…” you shouldn’t invest bud lol
It’s simple. It’s called being a bagholder. Those that made the mistake of buying LTC when it was over 350 dollars and did not sold only have the benefit of harvesting a tax loss. Those that sold LTC at that moment now have profit. This might be mutually beneficial for some people, but others cannot take advantage of harvesting tax losses, so they have simply made a bad decision that reduced their purchasing power.
The USD is an even greater, more ridiculous ponzi. BTC is a scam, but USD is the greater scam.
Lmfao… we’re done here
i have no clue what you are even doing bro
“BTC is a scam”…“but i buy LTC”
so this tells me, you don’t believe in the tech just here catching the money wave
thank you for wasting my time LOL
bro if all you see is money we don’t have anything to talk about
Yes, you’re correct. I do not “believe” in the tech, since there’s nothing to believe here. I aim to make the rational decision, which is to find the best opportunity cost that will increase my net worth and purchasing power. I want to live a better life, not being a bagholder.
I sold all of my Litecoin when it was above 350 dollars. Of course we were in a bubble, an irrational mania, and the best course of action was to sell and find better investments elsewhere. I made that right decision, but made other poor ones (tagging with lazy and scammy business partners). Fortunately, I have found new business partners that are more respectful and reliable, and my life had some improvements since the past year. The most intangible proof of that is that I have now more Litecoin than before.
This course of action might also be beneficial for you. Beware of cult leaders, including those promoting cryptocurrencies. They have no shame to slaughter others for their own benefit, have no shame at making others bagholders so they can exit at ridiculous profits.
sad really…you i mean
Yes, you’re correct. I do not “believe” in tech, since there’s nothing to believe here. I aim to make the rational decision, which is to find the best opportunity cost that will increase my net worth and purchasing power. I want to live a better life, not being a bagholder.