I have a Antminer L3+ and I mined 15 coins with it via litecoinpool.org started in March 2018. It’s been switched off since shortly after the last LTC halving, I expected my mining to be slow based just on having one miner but the rewards/PPS was just so insignificant after this event it didn’t make sense to continue using it.
So I’m just hanging on to these 15 LTC coins in my hardware wallet right now in the hope that some day they may be worth more. At the moment the total value is significantly less than the amount I paid for the miner when they first came out. I’d need 42.2 LTC at today’s value just to break even with the amount I paid for the miner (fortunately I didn’t have to pay energy costs!) and 2 LTC for the hardware wallet.
Is this the best I can hope for or should be doing? As things stand I can’t see the coins ever being the same value they were when I started mining (~125 GBP). There doesn’t seem to be any innovation coming out of or involving LTC and attention has shifted to other cryptos. None of the optimisms/hoped for projections based on events have happened. For example, I received the Litecointalk Forum summary in my inbox this morning and I appreciate it’s in the off topic category but it’s about “Mysticism in Life”!
My gut feeling (not based on any real, just through observed lack of energy in LTC now) is that it will tank or maybe I’m just uneducated at the moment.
Would be really interesting to hear others opinions on this. Like I could be missing something crucial in terms of news.
Xinxi kindly unhid my post that was mistakenly flagged as spam by the community.
Would still be good to get everyone’s opinions on the future of LTC, what indicators holders are waiting/hoping for and what/if any exit plans holders/miners have. So I’m giving it a little bump as it’s missed out on replies from when I originally posted it in June!
Please keep the post fairly professional and clean of any triggers, I’d like to keep it out of the forum prison this time! lol
Right now I’m only HODL’ing for Mimblewimble…as far as I can tell they have nothing else on the horizon but their ‘Litecoin Card’ which seems to have little progress and no traction. Indeed they only seem poised in the next year to do Bitcoin Core Update additions to LTC core. It is discouraging the lack of multiple projects and the usual long wait before they are in place. I think we are going on year 3 for Mimblewimble since first told it was gonna be an upgrade. Sorry but not too enthused lately.
Hey Searing! Thank you for taking the time to reply again!
So as I understand it MW will speed up transactions because it’s more compact, has greater privacy and makes it less centralized. I can see why that may give LTC a boost over competitors and make it look more attractive.
I also understand that it’s planned for MW to be scalable and used as a sidechain solution that can be attached to any parent chain i.e. BTC. Do you think when MW arrives it could just result in a flash of enthusiasm for LTC which is then lost when/if BTC adopts MW also? Will the new found interest be short term or more sustained due to MW?
Other than namesake popularity what is it that makes BTC more attractive for user transactions and investors that’s lacking in or non-existent with LTC?
Mainly because LTC development always lags big time from announcement (see LTC card) and they only do ONE project at a time…mostly they just do bitcoin core updates as applied to LTC…so other dev teams are basically adding more features. At least in the past, they used to do stuff with other coins like merge mine dodge or something…so too many much depending on 1 project…ie Mimblewimble IMHO.
MWEB of course, CTV implementation , Potential interoperability with Cardano, LTC card, Litebringer , Lighting development for LTC. Honestly I don’t get the uncertainty here. The. Network has never been down nor compromised, Litebringer is increasing transactions on chain , the use case is very relevant, the community is vibrant, this is a truly decentralized coin which didn’t pre mine a bunch of coins . Litecoin is very relevant and always will be.
I am not sure if that update can make litecoin price have a huge pump, but it could happen since litecoin has a large community and fan. If that pump will coming, I guess from now on, we will see the price will move step by step, and we will see something happen the next week. I only think that litecoin needs more time to increase, even if there is an update from the project.
So I think we still have more time to buy more litecoin, just if the price will have another pump because buying it now will save our time once the price starts to increase.
Continuing on this, I read an article the other day from an “Analyst” that predicts LTC, BCH and XRP will eventually be knocked off the top 10 and replaced by up and coming strong competitors. Read here
What’s everyone’s thoughts on this?
Personally, as things stand with market performance and seemingly lack of enthusiasm I leaning towards agreement (even though I want to hope for the best).
@LatinSlovak regards to being a vibrant community I can’t see any evidence of that but maybe I’m looking in the wrong places for signs. By my reckoning this forum should be a hive of activity and posts (it’s the first result in Google for LTC forum) but summaries I get by email tend show tumbleweed instead.
A few years back litecointalk.org was moderated by a different team, and used a completely different platform. It was super popular and active. Then one day it got hacked. The Litecoin Association at the time shut down the site, and a lost of the members went to Reddit or Twitter.
The LitecoinTalk (.io) that you’re using now was revived by the Litecoin Foundation. Recently we’ve been seeing quite some traffic here.
I like litecoin as it is right now. A widely used, easy to use, well established cryptocurrency. It is similar enough to bitcoin, but doesn’t have the higher fees or annoying longer confirmation time. In most “multi crypto” situations I choose it as the base currency to work with because it is the easiest with the least surprises.
Sitting around and hoping the price goes up is great and all (and as I have some LTC stashed I do this as well ) , but IMHO this is just speculation and is secondary to it’s main purpose as a functioning currency, which it fulfills very well right now.
) , but IMHO this is just speculation and is secondary to it’s main purpose as a functioning currency, which it fulfills very well right now.