High Risk / High Reward: Litecoin
Can it be the Silver to Bitcoin’s Gold?
Looking for a higher risk / higher return profile than Bitcoin offers in anticipation of the next Crypto bull run.
Litecoin is a decent option. It is accessible to purchase on most exchanges.
This ease of purchase tends to make it one of the first coins Bitcoin investors diversify into when they look to expand their cryptocurrency investments.
During a bull run as more investors buy Bitcoin and become interested in cryptocurrency.
Many are swayed to put a portion of their funds into Litecoin as they hear the stories around it.
- Silver to Bitcoin’s Gold
- Testnet for Bitcoin
- Good for efficiently processing small transactions Bitcoin isn’t optimized for
While these stories all sound good and potentially help propel a price rise when targeted properly to new investors during a bull run.
Be aware
The fundamentals do not appear to support these stories.
Since Litecoin’s founder Charlie Lee sold off his entire cache of LTC in 2018. Everything changed and the pace of development slowed.
While Charlie Lee did use a portion of his proceeds to fund a Litecoin Foundation.
And,
The Foundation does engage in activities to support Litecoin and publicly reports on the funds spent. Something many Crypto projects don’t do.
Whatever efforts these funds have been spent on have not led to tangible improvements for Litecoin.
With only 7 commits to the protocol on Github over the last year and 0 over the last 90 days. (source Messari.io)
Steve Miller
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