Pricing on Litecoin 2018 prices. Litecoin appears to be increasing in the long term. This is why many investors are trying to predict Litecoin's forecasts for 2018. It is important to realize that Litecoin is actually similar to Bitcoin and Ethereum. Only when you are able to keep this factor in mind will you be able to predict the price more easily.
Price forecasts Litecoin 2018:
When it comes to price forecasts, most people think that Litecoin would be able to close around $ 600 around in 2018.
Currently, when cryptocurrencies are compared on the market, Litecoin is one of the largest cryptocurrencies. Many institutional investors, as well as cryptocurrency funds, are also investing in Litecoin. This is why Litecoin transactions increase day by day.
If you are looking to invest in Litecoin, you could get good profits for the whole year according to the Litecoin 2018 price forecast. As always, it would be a good idea to diversify your holdings of cryptocurrency and significantly reduce the risk.
Forecasts for Litecoin: a solidly constructed network that exudes potential in 2018
Although some altcoins are gaining prestige and global relevance with each passing day, Bitcoin is still on the back of the most important cryptocurrency in the market with increasing appreciation of the benefits of the transaction that cryptography and blockchain technology can provide.
However, this does not mean that there is no room for altcoin growth and solidify their points as successful businesses and companies. Among these, Litecoin seems to be the preferred option for experienced investors in the crypto universe. For reference, altcoins are all distinct cryptocurrencies of Bitcoin, the industry leader since 2009, and Litecoin may be the best, the safest and the one with the most unexpressed potential.
LTC abbreviated, or £, Litecoin can be defined as a peer-to-peer cryptocurrency and an open source software project. It works with the MIT / X11 license and Charlie Lee created and developed it.
As in the case of Bitcoin and most of the altcoins, Litecoin is a decentralized entity, which means it works without a central authority or a governance agency. The system allows the creation and transfer of tokens, based on an open source cryptographic protocol.
The latest version of Litecoin is version 0.15.1, from March 2018. The C ++ language is the coded language and compatible operating systems are Windows, OS X, Linux, Android. The Litecoin core development team is responsible for development.
As for the information in the ledger, the timestamping scheme is Proof of work and the hash function works with scrypt. There is a blocking reward of 25 LTC, around until 2019, which is halved approximately every four years. The average blocking time is 2.5 minutes.
Litecoin Technical Information
A bit of history: history of Litecoin
Litecoin (LTC) Historical data
Litecoin saw the light of day on GitHub in October of 2011 as Bitcoin's fork: it was released in that month through an open source client of Charlie Lee, who worked in Google. The network / platform became active a week later.
We do not want to confuse you, so you should understand that it's exactly a fork. It is the process in which a Blockchain diverges, or divides, into two branches. It can be temporary or permanent; hard or soft. The root cause is a change in the consent algorithm or other software changes.
Litecoin was a fork of the Bitcoin Core client, with some slight differences. He had a reduced block generation time of two and a half minutes; it had significantly more coins or tokens, a modified GUI (Graphical User Interface,) and a different hashing algorithm using scrypt instead of SHA-256.
Since its inception in the encrypted market, Litecoin has continued to grow and, in November 2013, its aggregate value has increased considerably and recorded a 100% jump within 24 hours. Litecoin consolidated its position as one of the preferred options for investors and traders around the world, reaching a market capitalization of $ 1 billion in November 2013.
2017 was a crucial year for Litecoin. To begin with, they have become the first of the significant cryptocurrencies to adopt the SegWit (Secret Witness) system, which separates transaction signatures to increase the blockchain block size limit. Also, in May, it served as a host platform that allowed the completion of the initial Lightning Network transaction, with 00000001 LTC going from Zurich to San Francisco in less than a second.
Lee is still hungry for results and successes and tends to aim high:
Bitcoin vs Litecoin
Differences from Bitcoin
Experts always say that, being a fork of Bitcoin, the two cryptocurrencies share many similarities and the statement can be true to some extent. Both share the same code base, are deflationary and use evidence of work mining, for example. However, the differences between them are more than palpable.
To begin with, it is clear that Litecoin's transaction times are much faster than Bitcoin's, which usually takes an average of 10 minutes to complete an operation. Litecoin stops the stopwatch at 2.5 seconds and, as you saw in the previous section, the number can be significantly lower. Ethereum, another of the most important cryptographic networks on the planet, is also having to deal with network and speed problems.
The usability of Litecoin is what sets it before other alternative sectors and competes with Bitcoin for market share. People use it for standard procedures related to blockchain, such as lifting an intelligent contract, but they also have the ability, technologically speaking, to be used as a currency, as a legal currency.
Litecoin, also to provide the best environment for fast and secure transactions, also offers an economic option. The currently revised system implements the scrypt in its work test algorithm, which is primarily a sequential memory function that needs more memory than a non-hard-memory algorithm. The use of the method described above makes Minecoin mining more difficult than Bitcoin, which is a negative point in the comparison, but nevertheless a difference.
The favorite currency of the dark web
Dark Internet has been incredibly beneficial for several cryptocurrencies. As a reference, we can say that he promoted the Bitcoin transaction several years ago. However, in the last calendar year, some competing currencies have also started to show more prominence in this type of web.
The competition is stiffening! In a relatively short time, Litecoin can become the favorite cryptocurrency of all Dark Web users. It runs smoothly, is fast and, although it does not offer full privacy or anonymity (which are perhaps the first two requirements to complete transactions in this type of networks), is starting to gain steam.
Recently, several dark web markets have moved away from Bitcoin, which is understandable as it presents rising rates and lack of transparency as significant disadvantages. As a result, sellers and buyers are looking for new ways to manage payments effectively. Monero, another important altcoin, is gaining much attention, but it also gives rise to some of the same problems as Bitcoin, because there are some concerns about the privacy and the anonymity of Monero.
To the surprise of many, it seems that Litecoin represents 30% of the dark web transactions in the present, which is much higher than any other currency that is not Bitcoin used in the dark Web at this time. With Bitcoin slowly disappearing from the internet, the battle for its market share seems to be between Dash, Monero and Litecoin, with the latter having a firm grip on pole position.
Although some of the activities associated with the Dark web are not entirely ethical or even legal, the fact that Litecoin is a preferred option here tells us positive things. People started having problems with the inflated prices of the network, a consequence of Bitcoin's high commissions and started watching Litecoin.
Pro of Litecoin
- Litecoin is an open source project, which means it has the ability and flexibility to implement relevant and useful technological improvements, such as SegWit and the lighting network. In this case, it is an improved version of Bitcoin, which is logical since it was a fork of it.
- It's significantly faster than Bitcoin, completing the transactions on average 2.5 minutes, compared to the 10 minutes needed to perform a similar operation on this one.
- It is a cheaper option for people trying to execute transactions, with a transaction fee almost zero compared to Bitcoin.
- The mining process can be simpler on Litecoin than on Bitcoin (although this concept is debatable), since it uses the new Proof of Work algorithm.
- It was created by a former Google employee, who brings a sense of reliability and reliability to the equation.
- It has a less "toxic" community since it does not have enough reach from Bitcoin.
- It is considerably less volatile during market crashes or the corrections of some of its peers.
- The developers and founders have demonstrated excellent leadership skills over time: Charlie Lee left Coinbase as head of engineering with the intention of focusing full-time on the Litecoin project.
- There are atomic swaps between LTC / BTC.
- The presence of Lightning Network, a platform that promotes and promotes faster transactions.
- The total offer of 84 million.
- Market capitalization is very low if you compare Litecoin with other tokens at the top of the market.
- The Chinese are enthusiastic about it, which is an excellent development of marketing as it represents the most significant area of potential users.
- All hardware portfolios support Litecoin.
Cons of Litecoin
- People are still waiting for a countermove now that Bitcoin has added SegWit to its catalog of offers. With this development, Litecoin has lost one of the values that has made it different.
- Since Litecoin is a fork of Bitcoin, or a new version of you prefers the term, it implies that there will be few, if any, new and innovative ideas, which is something that the altcoins have to offer.
- The Litecoin market will be damaged in some way until the problem of Bitcoin resizing will be resolved.
- People's perception could damage the name of Litecoin. Many people seem to think that it is the same as Bitcoin. It could be a little while if it were to happen before Litecoin achieves the importance and sustainability that Bitcoin performs every year.
2018 Litecoin Forecast
People are constantly talking about Litecoin and its main competitors, Bitcoin, Dash, Ripple, Monero and Ethereum. However, what does the future hold for them? Could it be possible that Litecoin, continuing with a recent trend, will continue to grow and exceed the projections foreseen for this year?
By the way, experts from various circles have pointed out that Litecoin has the foundations to reach new heights in 2018. Some people talk about an increase that can bring its value to the $ 500 or $ 600 range, an incredible percentage growth if supported.
According to Forbes, there are at least five reasons for optimism when it comes to projecting the outlook 2018 of Litecoin. The first is that the growth of Bitcoin and futures trading, which has pushed up its prices. We can safely say that any positive development in the Bitcoin community directly benefits Litecoin, not only because it drips towards Litecoin and other cryptocurrencies, but also because the added traffic inside the Bitcoin network makes transaction fees rise and clogs the system, causing the migration to the Litecoin project.
Moreover, on Coinbase there is a substantial influx of users, which is a cryptocurrency brokerage that is currently in trend. It supports three cryptocurrencies, one of which is Litecoin. Since Coinbase adds 100,000 new users a day, it's a positive gain.
In addition, people are starting to create Litecoin: they are starting to understand that, in some ways, it is similar to Bitcoin, but it is also faster and entails significantly cheaper transaction costs, just to give an example.
The Litecoin network invites users who want quick and fast solutions that involve cryptocurrency and blockchain technology, and because they are popular right now, they will not want to lose the revolution. As a result of this phenomenon, people prefer alternatives like Litecoin compared to those that require more reflective research.
The last reason that presumes the future success of Litecoin is the attention of the media that has begun to take recently. Being in the public eye will ensure that this alternative is among the preferred options in the crypto universe. Artists, entrepreneurs, businessmen, doctors and even athletes talk about it! At least JaVale McGee, an NBA champion with the Golden State Warriors, is:
After some years of consolidation among the top ten cryptocurrencies and transaction networks, Litecoin seems ready to emerge and reach the state of the elite, but there is still work to be done and growth to be achieved.
What an embarrassment! Litecoin's payment platform with releases closes before launch
Things are not always what they look like when it comes to cryptocurrencies.
It is likely that we will discuss the performance of cryptocurrencies in 2017 for a long time. The increase of over 3300% of the market capitalization that virtual currencies recorded last year could be the single largest year we have ever seen for a class of assets.
Bitcoin, the most precious cryptocurrency in the world and the one most likely to be accepted by traders all over the world, is often attributed to these gains – and in the long run, it's true. However, the second half of 2017 focused on other cryptocurrencies emerging from the bitcoin shadow. Among these was what I call the bitcoin rival leader, Litecoin.
Litecoin makes a name
In 2017, the Litecoin token, the LTC, climbed to over 5,200%, or about four times more than the bitcoin itself last year. He had a real list of catalysts that excited investors about his prospects of signing up for traders and giving bitcoins a run for his money (completely word play).
For example, the founder of Litecoin, Charlie Lee, quit his job at the Google Alphabet branch to devote himself full time to the promotion of Litecoin in June 2017. The presence of Lee full-time was considered positive as it was expected that he would work to keep Litecoin on track and accelerate the mass adoption of virtual currency.
In addition, Litecoin holds a number of competitive advantages over bitcoins that suggest it could really speed up adoption and process transactions quickly. For example, bitcoin processes a transaction block approximately once every 10 minutes. Considering that about six miners validate a transaction on the bitcoin network before it is proven true and added to the blockchain, a bitcoin transaction may take more than one hour to settle down. While it is still much faster than the current banking system for cross-border transactions, it is relatively slow compared to other cryptocurrencies.
Likewise, Litecoin's blocks are processed in a quarter of the time, about 2 1/2 minutes, which leads to faster validation and regulation and the presumption that it can scale its network much faster than bitcoin. In addition, Litecoin's transaction fees are, on average, considerably lower than those of bitcoin.
In all aspects, Litecoin seemed like a medium of exchange that would one day overcome the bitcoin when the curtain fell in 2017. Then, things changed.
The embarrassing gaffe of Litecoin
In mid-February, with the cryptocurrencies that faltered from their first major decline over the years, Litecoin caught fire. Although a number of catalysts helped promote the LTC token, the biggest of all was the announcement that LitePay, a payment platform specifically designed to support Litecoin (although developed independently of Litecoin), would be live from 26 February 2018.
Litecoin had asked to join BitPay but was denied. So the development of LitePay should have been revolutionary. It would allow users of mobile devices and desktop computers – and perhaps even linked debit cards – to purchase Litecoin tokens and token assets, which could then be transferred to legal currencies, such as the US dollar, the British pound or the yen Japanese. A charge of 1% per transaction was expected, with the ultimate goal of accelerating the adoption of the LTC token as a medium of exchange. And most importantly, transactions would stabilize almost instantly, reducing concerns that retailers would have to encrypt volatility by eating in their margins.
Unfortunately, LitePay turned out to be nothing but a mirage, and now Charlie Lee, who had promoted the project as a means to increase the mass adoption of Litecoin, made him splash his whole face.
On March 5, a week after LitePay was supposed to be released, its developers noticed in an email that it was still "checking all traders in perspective" and was holding card records "because of the negative perception and drastic actions that card issuers have towards cryptocurrency companies ", as reported by CNBC.
But less than two weeks later, on 16 March, LitePay's CEO, Kenneth Asare, informed Litecoin, who was an investor in the LitePay project, which was ceasing all operations and planned to sell the company. In literally one month, Litecoin has gone from hypothesizing its payment platform to inform investors that the LitePay project was essentially dead.
The founder of Litecoin Lee wrote in a tweet: "Like everyone else, we were too enthusiastic about something that was too good to be true and we have optimistically overlooked many of the warning signs, I'm sorry for advertising this company and I promised to do better due diligence in the future. "
What you see is not always what you get
Cryptocurrency investors may have to get used to disappointments like this roller coaster ride with Litecoin. You see, the cryptographic market is not regulated, which means it can be something of a Wild West when it comes to promotion, product development and partnership announcements.
For example, the mass confusion surrounding IOTA at the end of last year announced the beta launch of its Data Marketplace, a blockchain-based network designed to allow companies to share or sell unused data in November. About three dozen branded companies participated as market participants, providing critical feedback for the IOTA. However, somewhere in the IOTA announcement it was assumed that these companies were partners, pumping the MIOTA token (IOTA currency). The IOTA had to clear things up a few weeks later, which pushed the lower MIOTA token and eliminated the wind from the IOTA sails.
Even Litecoin has had more than one case where things did not go as planned, beyond the LitePay gaffe mentioned above. In February, Lee denied that a separate group of developers were forging Litecoin in a new cryptocurrency known as Litecoin Cash; yet the Litecoin Cash fork has actually taken place (even if it has crashed over 95% since the fork is harder).
The point is that surprises are becoming more of a norm than an exception in the encrypted market, and it is not something that the Securities and Exchange Commission can do long before the regulations are reinforced. While regulation is often seen as the enemy of virtual currencies, increased supervision should help lay the foundation and build trust with investors.
The question is: how long do we have to wait before the US government increases cryptocurrency supervision so these gaffes become a thing of the past? Until we have an answer, investing in virtual currencies will remain an incredibly risky business.
Charlie Lee's vision on Litecoin [LTC]"Bright future"
John Carvalho recently conducted an interview with Charlie Lee, the founder of Litecoin on his Youtube channel called "Bitcoin Error Log".
John focused primarily on topics related to both Bitcoin and Litecoin and the recent changes that occur on both platforms.
Some of the points that Charlie mentioned, at the beginning, concerned Litecoin's place in the blockchain ecosystem. According to him, Litecoin can be considered a complementary Bitcoin and aim to implement better payment methods. Bitcoin focuses more on storing values and thinks that both companies can work side by side.
Both coins act separately and believe that Litecoin is helping to improve the ecosystem in many ways and that it does not want to be harmful to Bitcoin.
The cheapest fares and fastest transactions are the two best features of Litecoin. He said that Litecoin will always be cheaper than Bitcoin because of its greater capacity.
He was also asked about the Litecoin Foundation further. The Litecoin Foundation was established last year and is managed by Charlie Lee, who is the current Managing Director together with three other directors. They hired developers to improve Litecoin's operation and make it more user-friendly. They are currently working on Litecoin's main customer base and on increasing the Litecoin network by introducing new marketing techniques.
During the chat, he described the whole issue concerning the LitePay scandal. He stated that the initial idea behind LitePay's introduction was to simplify payment methods for their users using a credit card service for consumers. The company had invested $ 50,000 for the same. But the LitePay team failed to deliver the project and they noticed that the team did not have the potential to run the project. Subsequently, the LitePay team sold their resources and checked out.
Regarding Abra's involvement with Litecoin, he said that the company has decided to migrate from Bitcoin smart contracts to Litecoin's network due to higher trading rates.
Comparing Litecoin and Bitcoin Cash, he claimed that both technologies are almost the same except that all Bitcoin owners will have default Bitcoin Cash due to which BCH supporters are more. He also said that the security of Bitcoin Cash is very low because it shares the same hashing function as Bitcoin, making it more exposed to hacks.
Charlie believes that the price change of each currency is due only to market rates and the underlying technology should not be responsible for it.
Towards the end of the session, he said that Feasibility is the main feature that is missing from all transactions involving money. He says we can expect "bullet-proof and confidential" transactions to be implemented on the Lightning network within a year.
And finally, he mentioned some of the reasons why someone should keep or buy Litecoin; It provides a lot of value and you can use your money without being censored and transactions can be executed quickly and effectively.
Johnny T, a fan of cryptocurrency tweeted:
"Charlie big interview! When will the confidential transactions be added to litecoin? Will it also be enabled by default?"
Another Twitter states:
"@SatoshiLite use #litecoin bitcoin as my portfolio of values, my investments, my daily transactions.I personally feel more comfortable with #litecoin.I tend to believe in you and litecoin more than I do bitcoin and the future to long term that I see better with ltc how it makes you feel? "
Coty Cech, a supporter of Litecoin says:
"Fantastic interview, the tone is hella monotonous, but the questions were quite detailed and relevant." Great supporter of Litecoin, I'm glad you had Charlie on "
Cryptocurrency litecoin drops 10% after the LitePay payments processor closes; "We are too excited," says the coin founder
On Monday, the Litecoin Foundation, a non-profit organization to promote litecoin and an investor in LitePay, stated on its website that LitePay CEO Kenneth Asare informed the organization of a couple of days ago that "has ceased all operations and is preparing" to sell the company. "
"I am sorry to have advertised this company and I have promised to do better due diligence in the future," said the liteco creator Charlie Lee in a tweet.
Mon, 26 March 2018
Litecoin fell Monday after news that the payments processor LitePay ceased operations, causing an apology from the founder of the currency to promote the start-up.
Litecoin met in mid-February, partly thanks to the announcement by LitePay that the system for processing merchant payments for litecoin would come into operation on 26 February. However, in an email sent to customers on March 5, LitePay said that "he is still checking all traders in perspective" and is holding back recordings of the cards "due to the negative perception and drastic actions that card issuers have towards the cryptocurrency companies. " Since then, the company has not sent any updates.
Litecoin (LTC) struggles to maintain the gains obtained in the adoption of Abra
Recent reports confirm that the famous commitment to a payment network between Litecoin (LTC) and Abra, linked to the intelligent contracts of the cryptocurrency peer-to-peer, has reached a huge failure today after the asset has had an opposite effect and instead of expanding earnings, it ended up reversing previous gains.
Recall that Abra collected the critical number of $ 40 million during its last round of financing, an event after which the company announced that at the end of March it would manage its plans to use smart contracts from Litecoin for the purpose of feed their exchange and portfolio platform.
Following this statement, LTC achieved a significant gain of 20 percent, a number that, according to the interchange information provided by CoinMarketCap, made the cryptocurrency a fantastic price of $ 136 on Tuesday 3 April.
Moreover, as regards the partnership decision with Litecoin, Abra's CEO Bill Barhydt explained the situation by stressing the importance of being congruent with the market.
He stated that by choosing Litecoin smart contracts compared to those offered by Ethereum, the company was more aware of what was happening on the market; and that, indeed, doing so were actually closer to be compatible with the industry leader, Bitcoin.
Next, he detailed:
"We joined Litecoin as the second asset class, after bitcoin, for our smart contract investment solution for 3 main reasons: 1. commitment to bitcoin compatibility: basic coremap, p2sh support, lightning support, etc. 2. a scalability slightly better than the short-term bitcoin (block size and blocking time); 3. mining taxes that are primarily a function of No. 2, although this is more of a short-term benefit as mining fees they could probably skyrocket if we succeed anyway! "
In addition, the CEO stated that, based on the company's objectives, Litecoin will most likely become Abra's "primary asset class" within a few weeks to come.
After all statements made by Barhydt on behalf of Abra, most of Litecoin's investors felt encouraged to believe in a brighter future for Litecoin. However, since last week the currency prices have gone haywire in response to the sudden closure of the LitePay commercial vehicle.
The abrupt event was very unexpected since the retailer's gateway had opened its doors just a couple of weeks earlier and just as they were starting the business went down.
In this way, the entire panorama of the Litecoin currency does not seem very promising, in fact, the virtual currency created by the company has lost almost all the gains realized because of the alliance with Abra, reaching a price today of $ 118.
As for the facts, last week, Charlie Lee, the creator of LTC has established a very demotivational statement expressing:
"Like everyone else, we are too excited for something that was too good to be true and we have optimistically neglected many of the warning signs"
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