Hot search keywords

Hot search keywords

If Not Bitcoin Cash, Could Bitcoin Kill Litecoin?

Recent discussions about the SegWit activation and the Lightning Network implementation it would bring to the Bitcoin network has sparked a round of debate on whether it would reduce Litecoin’s relevance and value in the market. This has been compounded by the fact that recently, also, there have been issues raised by the launch of Bitcoin Cash as eclipsing Litecoin.

ltc bcc

Though Litecoin has proven strong in the market for several years, the latest development in the Bitcoin world has widened the gap between the two currencies’ values. While Bitcoin has started riding higher to even breaking an all time high record of over $3500, nothing has changed with Litecoin in the last few days. Rather than to have, at least, returned and sit comfortably at its $50 point since Bitcoin started the upward trend some days ago – Litecoin rose briefly to $50 some days ago – the silver to Bitcoin’s gold has maintained a catch around $45.

This in fact shows that there is no correlation between the change in the price of Bitcoin and that of Litecoin which is quite understandable as their prices are not expected to be hinged on another. Both should be independent of each other. However, while this may not be conclusive at this point – a couple more days would be needed to make a final conclusion, it seems that Litecoin’s value proposition has to be revisited for it not be considered to have run out of steam.

Bitcoin’s unfolding upgrade is a pointer that could translate into a complete lack of interest for Litecoin. Before SegWit was activated on the Litecoin network, the platform has been stagnant for far too long. After the SegWit activation and the subsequent Lightning Network implementation, the momentum gathered by this landmark feat didn’t take Litecoin far.

At the time, its price could have risen in value to, let’s say, $100 which could have pushed many investors to switch and hold on to it. But that didn’t happen. Rather, it stopped around $50 and has since been slipping back except for occasional rises.

Understandably, Litecoin is one of the best altcoins in the market and could be considered even far reliable than Bitcoin Cash. Its integrated LN, huge transaction size and speed as well as its being easily scalable are factors that have worked for it. However, now that SegWit and LN are coming to Bitcoin and considering the plethora of other platforms offering innovative solutions, something has to happen very soon to keep Litecoin where it is presently. Otherwise, it may drop in value in coming months.

Several LN projects are coming to Bitcoin – Blockstream, Lightning Labs, Eclair and Acinq. There is also the suggestion that the various LN projects are being worked on to be compatible with one another. Christian Decker is reportedly working on a cross-implementation test suite which all the LN developers will be using to test compatibility of all the implementations across several scenarios. All of these added together means more attention would be devoted to Bitcoin. This may leave out Litecoin as a viable option for making cheaper and micro transactions.

COMMENTS(12)

  • hl5460
    3 months ago hl5460

    Recent discussions about the SegWit activation and the Lightning Network implementation it would bring to the Bitcoin network has sparked a round of debate on whether it would reduce Litecoin’s relevance and value in the market. This has been compounded by the fact that recently, also, there have been issues raised by the launch of Bitcoin Cash as eclipsing Litecoin.http://news.8btc.com/if-not-bitcoin-cash-could-bitcoin-kill-litecoin

  • BitcoinAllBot
    3 months ago BitcoinAllBot

    Here is the link to the original comment thread. Or you can comment here to start a discussion. Author: 8btccom

  • justinhsiao
    3 months ago justinhsiao

    Try to pronounce that author’s name!

  • Rahar02
    3 months ago Rahar02

    I don’t think bitcoin or bcash could kill litecoin, as current increases of bitcoin doesn’t really affect litecoin, even though most altcoins prices has declined.This in fact shows that there is no correlation between the change in the price of Bitcoin and that of Litecoin which is quite understandable as their prices are not expected to be hinged on another. Both should be independent of each other.People tend to buy and sell altcoins in order to get profits, as everyone simply can not trade only bitcoin because its price is higher than others. So, as long as traders wants to get profits, litecoin and other altcoins won’t just disappear.

  • Xavofat
    3 months ago Xavofat

    At this point there are Scrypt ASICs, so the Scrypt mining algorithm is not properly ASIC resistant.Litecoin is basically just Bitcoin at this point with a few changed parameters.  It’s a legitimate and honest project but it’s not a serious competitor as far as I’m concerned.  Perhaps the shorter block time is somewhat relevant for Litecoin’s onchain transactions, but that’s about all I can think of.You want big blocks, you go to Bitcoin Cash.  You want SegWit or Lightning Network, you will go to Bitcoin soon enough.  In terms of block size Litecoin is weirdly in between and doesn’t particularly appeal to either “camp”.At this point Litecoin’s high price is pointless.  But then again, most cryptocurrencies’ prices are pointless as of the last few months, so I can’t really tell those speculators anything.

  • tanomous
    3 months ago tanomous

    can’t even see it because of the awful shadow underneath it

  • eckmar
    3 months ago eckmar

    Isn’t Litecoin already dead ? I mean who use it other than people who mine it ? I never saw a shop or anyone online accepting litecoin payments

  • kulivoko
    3 months ago kulivoko

    What is the meaning of FUD, please?

  • JordyCA
    3 months ago JordyCA

    Fear, uncertainty, doubt.

  • davidb86
    3 months ago davidb86

    Fear, Uncertainty and Doubt

    in context; using Fear, Uncertainty and Doubt to gain viewers, or clicks.

    These tactics are used to scare the market, and should be considered “below the belt”

  • kulivoko
    3 months ago kulivoko

    Thanks for clearing that up 🙂

  • hl5460
    3 months ago hl5460

    Quote from: eckmar on August 14, 2017, 03:00:07 PM
    Isn’t Litecoin already dead ? I mean who use it other than people who mine it ? I never saw a shop or anyone online accepting litecoin payments

    Bitcoin is more widely accepted.

Please sign in first