I’m just curious what other people think about this coin. Litecoin is currently the 6th most traded cryptocurrency and its speedy transactions make it ideal for commerce. The Overstock app allows me to buy things with this coin. The fact that it doesn’t inflate like crazy or deflate significantly in a span of 3 months makes me think that people are more willing to part with it compared to bitcoin.
I agree with Ray Dalio, in his opinion that “cash is trash”. Cash is modern slavery, because it enables the ones that control the money printers to enslave all of those that do not.
You might not notice this if you live in the United States (specially because the U.S. benefits by exporting its inflation over the world), but this is quite obvious in developing countries like Venezuela, Brazil, Argentina, Russia, Nigeria, and so on.
I need a way to save money over time, and Litecoin provides that to me. And there are institutions and exchanges that provide useful financial services that would be a hassle elsewhere, like taking loans with tiny interest rates.I can get loans without selling my crypto by giving it as collateral to Binance, which is quite good for entrepreneurs.
I see cryptocurrencies as a contract between the holders and the sellers: if the price does not collapse (and I’m even willing to accept the price to tumble), I’ll save the money I earn by purchasing the cryptocurrency and I’ll accept it as settlement for my goods and services. If it doesn’t live to these expectations, I’ll sell it and move on to another cryptocurrency.
I use it monthly for purchases and also replace what I use (or more.)
Right now it it Mimblewimble. If that boat don’t float I doubt I will HODL much LTC anymore…in that I see no real progress on any other fronts. As usual, LTC will simply go back to following BTC Core additions.
Unless, LTC Devs have ‘something’ of note they are not telling us about…but that seems unlikely…they told us about Mimblewimble 3 years ago.
I have no choice but to hold my LTC lolol. I accidentally sent it to a BTC address on my Trezor and can’t figure out how to get it back. However, my initial investment is up almost 80%. Awesome hidden savings account. Just wish I knew how to retrieve it.
Pretty sure you can’t retrieve it…or so the disclaimer I seem to remember using Trezor claims?
I watched a guy on YouTube show how to retrieve it but it kind of confused me. I’m not anywhere near computer savvy but I can learn. So I asked Reddit and as strange as it sounds, the same guy from YouTube responded to my question. He said use Electrum to find my coins, which I did, but I could never get the transaction to work. He said electrum needed an update and it may be months before they fix it so he said to run Electrum LTC from source? Lost me there… and enable unsafe paths on the Trezor in the command line. Tried the command line but it didn’t recognize what I entered. So I’m back to square one thinking and waiting to run across someone who has the skills that can help. From what I can tell it can be done. But hey, what do I know lol. Thank you for taking the time to respond.
My motivation is becoming rich enough to don’t need to work.
(And welcome to Valncia (Spain) and get party and ■■■■ you all!)