From Bitcoins Silver to the Internet of Junk
Litecoin is the thin-foil coin that the core believers mistake for silver. A rookie mistake – Litecoin has never been and will never be anything but exactly what it is – a copy of Bitcoin with a lot more coins in circulation, and very few places to use them. The fact of the matter is – Litecoin, if it ever had a real world use – lost it.
A poor store of value
The argument that Litecoin is a store of value, is pretty weak, who would want to store value in something that lose value as quickly as it gains it? – The charts speak volumes, Litecoin is not the coin you buy – it is the coin you sell as quickly as you can make a bitcoin or dollar-profit on it, only buy it back cheaper – if you ever want to buy it back (most people never buys it back)
On Stakepool we trade the markets every day. The legacy markets (stocks, indices forex etc) from Monday to Friday during normal trading-hours, and Crypto-Currency in the evenings. And the game is all about making more Bitcoins, we know that – the exchanges we use know that – and Litecoin, where is litecoin relevant in our day-to-day life? It is just a shitcoin in the heap of shit that belongs to the Internet of Junk more then the Internet of Things.
Nobody Accepts Litecoin
The fact of the matter is that nobody that is important online or offline, accepts litecoin – nobody. If you hold litecoin as a trader, you are doomed to play in the low-cap markets with minimum liquidity and extreme spreads – litecoin is not accepted almost anywhere and unless something fundamentally changes – it will be completely ghosted within the next couple of years.
The Church of Litecoin failed
Charlie Lie and the core synagogue of the church of litecoin had years to establish markets, connections and to make it popular and easy to use around the world – they failed in everything. Many places that used to accept Litecoin only two years ago, has turned to only accept Bitcoin – the Litecoin-markets thriving before – does not exist anymore – People chose Bitcoin – it is more stable, easier to exchange – and actually accepted worldwide with a real growing community of investors & traders guarding it 24/7 while Litecoin is leaching on it like flees on a lapdog. Unless a pump and dump group come along every six months to move litecoin around like a rag-doll, the price only declines in value. It is the sickest thing to observe.
Litecoin has become irrelevant in crypto, the poor mans Bitcoin that always lose value after he has gained some and almost nobody accepts it anymore.