Speaking of Litecoin...
It is fun to see Litecoin's price has been moving upwards a little bit for a change. However, it seems Litecoin is stuck in under $100. Not for days or months, but years. Bitcoin has made many all time highs in the last few years, Litecoin magically manages to stay below $100. Yes, in the last few months we have seen it manage to just stay above $100. Still, it seems undetermined what to do next. Nevertheless, Litecoin will always have a unique place in the crypto world, regardless of what will happen to its prices. There is a lot to like about like coin. Price is not one of them.
When I first discovered crypto, I would never want to be involved in Litecoin. I understood the original idea of Litecoin being digital silver to bitcoin as a digital gold. Very simple and understandable idea, and it is great. Simplicity is the best. No need to complicate things. While it is also a scarce asset, its max possible coin supply is four times of bitcoin's max supply. Ok, makes sense. Naming and branding the coin is very nice as well. It is a unique brand and does represent what it stands for. As bitcoin continues to prove to be a very good store of value, litecon's idea of daily use coin becoming even more reasonable. Nothing to hat about litecoin here, even years ago. The problem for me was it wasn't bitcoin. That's it. Why should I consider litecoin when there is bitcoin, was my thinking.
In recent years, this approach my mine has changed. I started buying more and more litecoin. There are several reasons for this. One reason was an influence by friend who has preferred litecoin over bitcoin. I don't confuse the two. I think bitcoin is a digital gold and more. With institutions, corporations getting involved in crypto, and sovereign money showing potential interest, bitcoin is becoming too expansive for ordinary people. I know that Satoshis are valuable and people can always stack Sats and don't really need to have full bitcoin if it is too much to invest. At the same time there seems to be a psychological barrier to this thinking, however illogical it may be. The thought is having a whole of something is better, than having small parts of something bigger.
Here is my theory for potential success of Litecoin. Usually most theories in crypto don't work, because crypto doesn't really follow logic. I have been proven wrong many many times. It is awesome to see $100k becoming a norm for bitcoin's price. That is a lot of money for a single coin. Imagine how this feeling will be reenforced when bitcoin reaches $500k or $1 million per coin. FOMO will still be around. The question is will ordinary people choose to accumulate Satoshis, or go for full coins that are much cheaper. First coin that comes to mind is Litecoin. Would those who can't afford buying full bitcoin go for buying bunch of litecoins? I think this has a good chance of taking place.
Yes, there are many crypto investment options. But they all serve different purposes. I usually categorize them as following: coins that fix finance, coins for building app with smart contracts, coins that decentralize and improve web, coins for specific purposes other than fixing money. I am sure we can come up with many more categories like mem coins, utility coins, etc. Just to finish this thought and theory, ethereum is one of the best coins. But it is something different than what bitcoin and litecoin are. I invest in ethereum too, but I don't really use it. Litecoin on the other hand is great for transactions. It is faster than bitcoin, and transaction fees are a lot cheaper. I have been impressed with how fast and cheap transactions are in Litecoin.
Bitcoin Cash may be another alternative for investment. I like Litecoin branding better though. Litecoin has its own brand and never claims to be bitcoin, or to be better than bitcoin. It is ok to be number 2 choice. It is different for Bitcoin Cash. It had its ambitions of becoming the bitcoin. I am surprise BCH is more expensive than Litecoin. I am invested in all three, Litecoin, Ethereum, and Bitcoin Cash. I stopped thinking about coins politically or philosophically. I try to stay away from obvious scams, but other than that having a little bit of multiple top altcoins is not a bad idea. I resisted buying Solana for a very long time. Markets proven Solana to be an interesting coin as well, so I acquire a few Sol coins as well.
I hope they all succeed, but I am rooting for Litecoin's success the most. Not because I am invested, but it seems Litecoin has become an underdog and has something to show to the world. As a technology, I think is awesome. As a network, I think it is decentralized enough, and with more interest it can become as decentralized as bitcoin. I don't want to see Litecoin to compete with bitcoin, because it dosn't need to. It already had excellent qualities described abov. I think it can shine on its own both as an investment instrument, and also as a medium of exchanged used globally by everybody and everyday.
Why not Hive? Hive like Ethereum and Solana has its own space that it is innovating in and it has its own problem it is set to fix. If Bitcoins fixes money and gold, Litecoin fixes currencies and silver, Hive fixes the web. Hive and its HBD are awesome. But Hive's place and its journey is much different than that of Litcoin. I don't think any of these are competing with each other, and they don't need to. Regardless what we think about various coins, I think HIve and Litecoin have their special places in crypto world and should focus on their own journeys. This journey is far from over, and there are a lot of interesting adventures to observe.
I like Litecoin and will contine accumulate whenever there is an opportunity. Maybe ti will reach $1000 and above in the near future. Or maybe it will become absolutely irrelevant and remain under $100 for decades to come. We just don't know. What we know though that the Litecoin network has been running and operations for many years. Maybe it will not find its special place in crypto and finance world. However, I am sure it is not going away anywhere and has potential for massive gains in the future. $1000 per litecoin may seem impossible to accumulate. Similar was the truth about bitcoin. We knew Litecoin's fundamentals were intact. Yet, not too long ago it was difficult to imagine $100k bitcoin. Today, it is not easy to imagine bitcoin at $1 million. But when it happens, we will probably behave in a similar manner.
I think Litecoin deserves to be the digital silver as it was originally intended, and it is a better fit for the role than everything else in the crypto world. Other coins have their place too, but not this. There is something uniquely interesting about LTC. It is a fun coin. Perhaps it will someday will become ordinary people's coin, as bitcoin becoming more and more expensive and only affordable for companies, institutions, and sovereign funds. That won't take away bitcoin's digital gold status. People should own gold too. Gold belongs to vaults, and silver in the wallets.
As the bull market continues and things are getting even more interesting in the markets, I rooting for Litecoin to make amazing moves that we haven't seen yet. If not, it will still be a fun coin to have. At least we know it too moves up from time to time.