Thoughts on Litecoin marketing

Marketing
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I’m a firm believer that Litecoin has practically everything going for it besides a strong community-led marketing scheme. Litecoin’s value proposition (Silver to Bitcoin’s gold) is amazing, along with the whole 9 years of no down-time, persistence as a top coin, etc.

I understand that Charlie Lee probably doesn’t care much about marketing it anymore, and that’s to be understood, unfortunately though, his voice and presence is undeniably one of the most powerful marketing tools Litecoin has, whether it be making a connection with a prominent figure in crypto or using his popularity to bring more attention towards Litecoin (more interviews/articles/tweets, etc.). It drives me nuts that so many powerful people within the crypto space follow him on Twitter and would definitely listen to what he has to say, but he hardly ever tweets anymore. As a Litecoin fan, you don’t understand how intensely I’d be making use of the 800k+ followers if it meant bringing more attention to the project. Even more now without actually owning any coins and avoiding that “conflict of interest”. I feel like there’s a lack of influential crypto-folks (say–twitter accounts with over 20k+ followers) that openly speak about Litecoin and publicly support it. It feels like there used to be way more back in the day but you hardly ever hear a peep now.

Anyways, steering away from my little rant, I believe in a great need for a community-driven marketing scheme. Maybe organizing a non-profit fund that focuses solely on marketing the coin. The money could be used towards video content creation/ possibly ads on social media/marketing campaign strategies, etc. I’m not a marketer, but I can try to somehow help.

Any good ideas for how we can move forward in this respect? There’s nothing more than I’d like than for the Litecoin community to continue to grow and prosper. Thanks.

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Yes, absolutely. LTC has excellent fundamentals, massive growing adoption from Grayscale to Paypal, with more to follow, a fantastic team; however, the community online needs quality moderation and proactive direction to spread awareness all through social media, news articles comments, writing companies to advocate it’s use, etc.

Twenty-eight million merchants now take Pay Pal, and over 277 million consumers use it. Soon companies like drug stores will accept PayPal.

PayPal also announced that account holders could eventually pay merchants in LTC, BCH, BTC, etc.

PayPal and other companies are about to go full-on crypto. Flashing your phone at the counter will soon be the norm, online or off.

Other banks and companies will follow.

Credit card bar codes from crypto companies or banks, I believe soon will give you the option of what you pay with, whether LTC, BTC, BCH, fiat and other cryptos.

I believe we are on the edge of a possibly massive shift in how we exchange for services and goods.

Litecoin is so undervalued.

It’s past time for the community to work together, present a lively community, to reflect its excellent fundamentals, quickly growing adoptions, institutional, and personal.

My .02 Litoshis for the moment.

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What is the purpose of LTC? Store of value, medium of exchange, unit of account?

Does a list of LTC distinguishing features, current, near and distant future even exist?

I don’t think billing LTC as a test bed for BTC is a very good marketing plan.

Fungibility, low transaction cost, and high transaction rate are good distinguishing features.

I think the use case for LN is too limited if existent.

Bigger blocks, fungibility, low transaction cost, and 2.5 minute block time sounds like a dynamite combo to me. Tell the world.

My 2¢.

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It’s up to all of us that believe in Litecoin to spread awareness or market, it’s a small step but these free seed cards are great to spread around town https://redkatlife.com/ .

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https://www.lookintolitecoin.com/

This site does a great job of breaking down Litecoin’s attributes and uses

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Many thanks for the link but my questions were rhetorical. I talk up crypto especially LTC all the time in my small, in town, Atlanta community. Nobody gives a flip except those few who want to invest and I help them get started.

As far as the whole community goes, it’s tough. I know plenty of Venmo users and local merchants who are totally uninterested.

What’s the case for moving away from Venmo (very popular in my community) to a crypto wallet?
What’s the case for local merchants to accept crypto?
What’s the case for local employees to accept crypto wages and tips?

Gary

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The dollars they hold are loosing value, inflation will become much more relevant when the velocity of money ramps up and the price of goods and services increase. Crypto, like gold and silver , is an anti-debt anti-inflationary instrument thus a store of value. Lower transaction fees processing payments and expanding their client base. These are some of the reasons I would accept crypto if I was a business.

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Good point on the anti-inflation and low transaction charges for merchants. It’s kinda betting on the come however. Initially customers will neither know of nor have LTC. Customers like me won’t part with theirs because of Gresham’s law.

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Yea, but the “bad money” fiats purchasing power will be weak compared to sound crypto payments… right now we are still in infancy for crypto thus volatility exists, but these markets will settle down I believe. Personally I have my store of value bags, and my means of exchange bags… whenever I spend LTC I replenish. For my spending LTC, i have funds in USDC i move to LTC and transact from there.

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For the folks that aren’t aware of Litecoin, that’s where partnerships with Ternio I think are important, even though the ultimate goal is transacting and settle in LTC , The Visa Litecoin card will lead to more adoption I believe . People who don’t want to deal with crypto wallets but want exposure will use those services, where as crypto savvy will transact in native methods

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There is a great thread on Twitter regarding Bitcoin and the confusing subunits such as bits and satoshis etc,thus for marketing and adoption the argument is for defining the units as Bitcoin and Bits only. As well for Litecoin why not use Litecoin and Lites? I’m down for Bits and Lites and think it would break down certain barriers newbs may have. Here is a terrific read from 2014 the was shared in that thread as well.

https://www.coindesk.com/breaking-down-btc-bit-by-bit

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In your opinion what distinguishes LTC from BTC for the average everyday user?

Thanks for the link. I’ll read the article tonight.

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Litecoin fees are lower, transactions are faster and price is considerably lower, especially for a strong network with zero down time… for the average user those would stand out most to me. Sorry for the late reply, been a minute since I’ve logged on.

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For now at least I agree with those distinctions. Hmm. I’m not sure what will happen to those distinctions as LTC usage approaches that of BTC.

As to units of measure of LTC: I think most of the world, excluding >~30 year old Americans, is comfortable with the prefixes used by the metric system. Maybe they (centi, milli, micro) could be adopted by LTC. My 2¢

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I am curious about what Charlie Lee will talk about.

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Yeah, i agree with your narrative. It holds much value.

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Collaboration of communities is so important more than many developers realize, or they use it for their benefit, which needs to stop.

Let’s end tribalism and encourage collaboration, which Would benefit LTC.

Communities are almost as important as code for a project in today’s digital world.

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This person was suspended? I don’t see anything but good informative posts and awards?

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Well, accusing Charlie with crimes is not really positive.

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That appears to be a quote from a news article. If anything, given his previous positive, informative posts, it is just reported information, not fud or fomo, giving Charlie a chance to rebuttal.

I looked through all his posts. They were all informative to positive.

From asking around, it appears a centralized action by one individual banned him from Reddit, Litecoin on Telegram (being informative rather than fud and prices), and just saw this morning, this site too.

An informative poster, not a fud or fomo person, but an informative, positive LTC person, gets banned. I searched and found nothing negative.

However, I did see fud-oriented people accusing Charlie of ridiculous things on Reddit and Litecoin on Telegram yet still posting?

No information, all fud, and they still post? I don’t get the lack of LTC marketing considering how good of a coin it is, I told him.

He agreed and wondered if maybe LTC has something positive to happen and doesn’t feel the need for community. Is that true?

They aren’t sequestered, the good informative posters are. It seems as the same moderator(s) are in all three.

He told me:
1- LTC has had no downtime since it started.
2-LTC has wide adoption only comparable to BTC
3- LTC has MWEB coming
4- LTC is being integrated with Flare

I learned these things in a brief message; he never said anything negative, didn’t fud or fomo, and still promotes facts on multiple coins.

It seems other coins communities, instead of banning, made him an admin of many rooms.

He still speaks well of LTC; he just said there wasn’t a good community for it. I mentioned this is a good one, he agreed, but I mentioned he still was banned, and he had no response.

That seems like a good community member to me while “crap,” as you call it in other rooms continue. He was glad to hear the negativity had not bled into here.

It’s mind-boggling how the enormous room accuses Charlie of horrendous things; Reddit promotes that Charlie owns the Telegram group, Charlie encourages the room, and nothing is done.

Maybe Jo is right; LTC has something significant coming and discourages a positive community.

If anything, good posters are sequestered here, away from the big rooms most see, not the other way around as you said. Note the posted images from the rooms.

So what colossal thing is happening with LTC to keep positive posters sequestered away from the main community rooms?

It has to be huge. I can’t think of any other reason, either.