Bitcoin Forum

Thoughts?

https://dashnews.org/leaked-developer-messages-litecoin-has-zero-active-development-as-dusting-attack-hits/

That means mimble wimble for litecoin is just a dream or is it another litepay.us (fake news that spread by litecoin team itself) ? We'll see that

I guess it caused by this company running out of money and this may be the main problem.

WTH was happening with litecoin, it sounds like all promises were created is just BS.

i think i need to read more sources about this. because if this is really true and if it will blow up in crypto community, the future of litecoin is doomed. their price is doing better at the moment and if this news will spread like wildfire, those ltc holders need to prepare what's gonna be their decision, to hold or to sell before it is too late.

It’s from Aug 2019 - less than a year ago so perhaps things have changed.

Maybe?

I’ve been following LTC and a few others in regards to their developments / ideas / implementations and etc but LTC not much activities.

I checked their Github repository here: https://github.com/litecoin-project/litecoin.

It looks like there are no development more than a year ago. I don't think that they have abandoned the project perhaps there's no more idea coming from the dev and leave it as it is.

It's no surprise as the founder David Lee left the project selling all of his litecoin. When the founder rejects the project as useless, what more can you expect from the volunteer developers. Litecoin was a lighter alternative to the than bitcoin but there are plenty of coins that could carry on it's work with some extra perks. Litecoin is absolute at the moment.

This!!

And, based on my own research, reviewing thousands of articles, interviews, chats .... it sounds like LTC was born mirroring Bitcoin, mouth watering articles by certain paid-bloggers plus a few Bitcoin developers’ names as contributors to LTC project in their Github ... helped raised the price up there ... then the MAN sold as much as he could (owned?!!) - but it didn’t ring the BELL ... high priced ASICs continued selling like candies .... profit was UP for a very short period of time ...then DOWN DOWN DOWN ... finally here we are today!!

Well, I don’t really care about this moment. Litecoin will continue to occupy the same highest position as BTC, even though no further development takes place, but people still use it because they trust it.the situation is different with the release of new coins.
so litecoin will be fine even for a long time.

I'm not worried even if litecoin has no development anymore, it's same news with Bitcoin and Doge coin, they are old and well supported with great community, I prefer then than other

This is true. But it is also true that LTC still holds high positions. However, it is likely that he will gradually lose positions and this will not happen in a day.

Isn't it Charlie Lee or he's also addressed with that name? I don't know.

This is the last update that I've heard about Litecoin and many enthusiasts were very positive for this after the success that Grin have.

Despite of being old, the community is determining that Litecoin is still an old but good buy.

In crypto space old is gold, every single old coins are better because of the strong community they posses, litecoin is not a useless project and it won't go down without a fight

It's just deadcoin for me, that time when the founder sold all his coin people should just cash out altogether because this coin is abandoned anyway although the founder told the public that he will still continue development despite selling all his coin but that's just empty promise.

That's not a big deal. LTC was made out if curiosity only and it's good that the coin has established itself a good one. If there's any coin I would use after BTC is LTC only. It would be good to see LTC further development though.

In every project, the founder is the one who needs to hold the most to make investors trust but the founder of Litecoin has sold all his assets and left everyone here. There are currently no new updates here and it makes this project very risky. However, Litecoin is still in the top 10 of CMC and is usually based on the price of Bitcoin so this is still a good long-term investment option for everyone.

I mean when the founder of the project literally dumps all of his holdings, why would anybody really want to throw their money or time in?

In any case, Litecoin has achieved its purpose as the silver to Bitcoin's gold. It offers fast, lightweight payments.... What more does it need?

Why can't it just be a finalized product?

This is a bitter truth, everyone knows about it for many days! Some projects we support without any reason. This is why Litecoin, Dogecoin still holding a top place in the crypto market. Once I followed the Litecoin founder's twitter handle, but I was bored by not getting any major updates on the network. So, I unfollowed him and never bought Litecoin again! Making money is not my only goal in crypto, I want to support the better projects!

even to me honestly the project now seems destined to travel on a dead track

I never particularly liked it, because I probably don't understand its real purpose, unfortunately if I don't understand things I can't love them

Im also interesting to see that to happen but there was no update regarding the progress of litecoin mimble wimble.

The price is not so good as when it was getting hyped. When it has already confirmed if there will be next development progress and i may think the supporter will leave litecoin and it will make this coin becomes the next zombie coin like doge.

It was dead to me the moment Charlie sold his coins. This was also the last time LTC was really worth big bucks and was looking strong.

It's still an oscilator coin that pumps and dumps with Bitcoin but its pumps are getting much weaker and in time it's going to barely react to pumps and go flat as people lose interest.

Recently there's been a lot of FUD about Litecoin having no code commits in 2019. When you look at Litecoin GitHub, it would seem like their is no improvement. There are actually 2 reasons
The first reason Lee provided for the apparent lack of work on Litecoin is that most of the updates applied to Litecoin were originally developed for Bitcoin (BTC) and as such, only the original development dates appear.
the second reason provided is that Litecoin developers do not work on the master branch of the project on GitHub. This decision is meant to ensure that building from sources obtained from this branch do not return broken builds. Indeed, leading Litecoin developer Adrian Gallagher has been actively working on the Litecoin Core release 0.18.1 on a personal branch

Kind of interesting read.

https://captainaltcoin.com/litecoin-ltc-price-prediction/

Litecoin has as much development as Bitcoin have. It very closely upgrade everything what Bitcoin develops from 2012. That is what is path of Litecoin, to be a light copy of Bitcoin.

That is not a strong point to say if Charlie might be a reason for the litecoin is stop its development progress. The problem is if this is a non profit based company and do you know that? anything developed in the litecoin will not bring profit to the litecoin to do a further development like what already done by binance as a profit company.
That makes the litecoin platform has limited resources to do further development progress. that's why Charlie lie is also asking for the fees from the miners of litecoin.

Not true, this is an open source project. I dont think a project can easily gone even they have investors. No active developer on the scene, but someone can make this improve more. I dont see the difference with it from bitcoin. Developers or the creators are not active but they are the top coins on the market. What does it prove then? Decentralized can evolve even without these people watching close by.

Ethereum is on a different level and has so many active staff ob their disposal. I cant compare much because this is a battle of active projects and pioneer coins. Look out also on dogecoin, these are first coins since blockchain has begun and it will stay at the top due to their positioned ever set.

Not just ETH, but many others are on a different level with super active staffs at their disposal - and that’s exactly the reason many people are scratching their head to figure out what has gone wrong with LTC - or, why they have stopped / slowed down.

In another word, why there is no or so little number of developers around LTC.

Personally, as a software developer (non-crypto!!), if I like a company, their environment, purpose etc, then I enjoy learning and getting my hands dirty with their language - and also encourage others to join too. Otherwise, nope!!

I believe same can be said about LTC and inactive development. Developers just can’t find a reason to love / support it.

Agree, Charlie mentioned Litecoin as a lite version of Bitcoin, but once he left who is actually leading the Litecoin because someone should come forward and start developing the litecoin to the next level. Of course, I do agree it won't die, but things like this will make this coin to die after some years because now cryptocurrency becomes a huge development activity for other coins.

Litecoin is not really something that is getting all that much attention anyway, it doesn't need any developments neither, it is just litecoin and that's it, nothing more.

There are some coins who have been very strong for years and that is enough for them, they do not have to do anything to stay high, sure litecoin was once second coin behind bitcoin and it dropped but even with being just litecoin it still stays at high positions. That is really valuable in the crypto world, anything before 2016 and the ICO period has been considered quite good and have been the "old soul" of crypto world so even without any development at all they have a community that backs them up.

Do I support that idea? No. However I can't deny that it is happening right now and has been for a while.

Valuable response. Thank you.

I have lost interest in Litecoin since it halving in 2019. I invested a lot and waited for the price to increase after halving but it all let me down. The price quickly dropped and caused me and a lot of other people to lose money investing and it

I tried to visit Github Litecoin, and I see their development is not very significant at the moment, only a few parts of the website were updated yesterday, and a few days ago they also updated parts of the system, maybe Litecoin will develop something

I think litecoin is already a fully developed product but i am sure developers will be working on its improvement and upgrades in the background, also i think the latest development is lightening network that will be the scalability solution for ltc and btc and by using it we will get fast and cheap transactions that is the need of the hour.

In the bear market you recognize which projects are worthy and which are not. Simply, those who stop working on the project with first dump, they have nothing to do here. We need to create stable ecosystem with few good coins that will attract investors again.  :)

from this article clearly explains if a solid team will determine the progress of the project. and we all know that Litecoin is a long-standing project. and actually there is no longer any reason for this project to run out of ideas halfway through

I was doing some research about many exchanges and your comment reminded of them.

Poloniex was born years before many others and thought they were fully developed and no change / improvement is needed and look where they are today.

As for working behind closed doors ... are we talking about Apple? Usually, Crypto developers  announce / brag about their short / long term plan well in advance so people like me remain excited! ;D

Ethereum 2.0 started their noise years ago!

But ... just realized I wasted your time! My response should’ve been: Source, please?  :)

Litecoin is majorly a coin to facilitate payments over the blockchain. It may not be popular as bitcoin or ethereum but we can be sure of its technology might make it a better currency for spending. The Litecoin transaction time is also four times faster than Bitcoin's and while there's no regular development on the coin, I haven't really seen a major drawback yet

It is unclear and there is no specific information about their current plan so I will continue to sit and watch instead of choosing to invest. Litecoin is now like a junk coin and depends a lot on the Bitcoin price. Also this year there wasn't any news that made the coin go up and the CEO left this project leaving me no reason to invest.

Litecoin (LTC) is one of the first altcoins, created in 2011 by Charlie Lee. It is quickly listed on a few market places and its price quickly reaches 30 cents of dollar (USD).

The price of Litecoin evolves from 2011 to 2013 between a few tens of centimes and 3 dollars.

But from November 2013 the price of litecoin will experience its first bull market in a few days. The price is multiplied by more than 10 to reach about 50 dollars.

But with the bear market of 2014 and the scandal of the Mt. Gox exchange, the price of Litecoin suffers and falls back to around 1 dollar in January 2015.
After a small rise in the spring of 2015, Litecoin enters a two year consolidation period and its price stabilizes around $3.

From the end of March 2017 Litecoin starts its second bull market. It rises from $3 at the end of March 2017 to $50 in July 2017 and reaches $80 in September 2017.

In November and December 2017, Litecoin takes advantage of the cryptocurrencies bubble and the price literally soars. The absolute record is set at around 371 dollars on 19 December 2017, i.e. a 500% increase in 2 months!

In 2018, Litecoin suffers a new crash like the whole cryptocurrencies market and its price will fall back to a low of around 25 dollars on December 15, 2018.

In 2019, Litecoin started in a bull market and its price climbed to $145 in June 2019. It then fell back to $50 in the second half of 2019.
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Please read above one more time - but this time slower so you fully understand how it was born and survived!

Today, there are very small number of people who have invested on farms with hundreds, if not thousands, of ASICs and own huge number of LTC!

To them, it’s not labour of love! It’s just a game and they must play their cards 110% in order to get good return for their time and investment - until it’s all gone!!

This is what I've thought too. Why are people concern about the technical development of Litecoin when it is already working as intended? The project developer already sold all his Litecoin. I don't know whether he really abandoned Litecoin or he is just copying Bitcoin where there's no central power. The community is still great. I don't think people will just leave Litecoin just because of this.

Tell that to Mr. Lee himself!!  :)

https://www.trustnodes.com/2019/08/11/no-one-is-interested-in-working-on-litecoin-says-charlie-lee

if charlie lee ownself said like this , litecoin future will not interested any more. if no dev team join in order to developt litecoin projects, there is no more important feature from this coin. hmm but only based on source will not totally prove, we need more source to prove it, in the face litecoin still exist in market .

interesting topic, but why does it still remain in the top 10 altcoin ??
it could be that they are planning something that is mature and executing at the right time.
because whatever is done if during the bear market certainly will not make a significant impact.

It is a solid technology even if there's no active development. Miners are still making the blockchain secure and the transactions are working.
But Litecoin for a long time was continuously in top 5 from it's inception to end of 2017 and now it's struggling to be within the top 10 position. And it would further slide down gradually as newer coins are made popular.

If litecoin really has no development, then it will become an ordinary cryptocurrency just like other coins.
We need developments in the project so the coin will be adopted and used by many peoples.
No development means no efforts for attracting more users to use this coin.

But before that Date is the last time that Litecoin rallied towards top 5 rank and after that starts to fall again like now.
Yeah aside from changing their Logo last year(things that makes me wonder that it is the start of new coming)but after that nothing goes good and i am starting to lose Hope for the long waiting comeback of this number 3 ranking coins in 2017-2018.

Litecoin will be the next zombie coin and i believe it. Since doge has already abandoned by the dev and it has no party that interested to do further development for doge.

I just hope those who feel this coin would be a big thing will not try to put a big expectation again even charlie has already said about that.  ::)

When you have someone like Charlie basically making it a centralized coin, there is not really much to expect from it in the end, you are basically just letting one person run the whole show, how could you expect it to have any decent improvements? Maybe it is still decentralized in the blockchain sense but the dude simply just makes any changes he wants whenever he wants and everyone agrees and that gets implemented, what type of decentralization is that?

What the hell does Charlie didn't do so far that wouldn't hurt litecoin. The last straw was probably him selling all his litecoin, that showed the world even he didn't believe in the project so why would the others? Ever since that moment litecoin community just got smaller and smaller, and probably won't get better until Charlie doesn't have any relation at all.

what is specific use case of ltc! i mean if no proper use case and no active development then most certainly project will slowly die, i think the team should really consider this and try to improve on developing the project, except ofcourse they are already tired of supporting the project, they loss interest on it, hope this is not the case.

Zero active development does not mean nothing is going on behind the scenes. Charlie Lee, well I think it is better for us not to put any hope on him alone,,, every other dev is working on their own altcoin and Charlie already sold all or most of his holdings so he no longer needs to push it, but he said he promised to work on it until ATH. Who knows what that means. As a coin itself, it works well, trust me the next time bitcoin needs new tech, ltc will spark alive.

I agree Litecoin has come a long way such a long way this is one of the coins apart from Dogecoin that gained a lot of followers when Cryptocurrency was at an early stage, so many exchanges has Litecoin, it is even in a lot of big events like MMA, the community should ork on to make the coin more appealing to investors again.

If that's the case I think there is not to worry about since the article has been already for months, definitely many things have change and they have been up for developments. Investors would be of their every move since they to stick in LTC as we can see that the price are still kicking. But is the article is indeed true and up until now they are not doing anything to save what they have started then they would lose their community in an instant.

everything looks as if the team is no longer very interested in improving the quality of their work. I think LTC is just the beginning. very soon many projects will also slowly stop their development

To all gents / ladies who truly believe in LTC and want it to go up and stay up!

I respect that and my hat off to you all.

I see you all share the same thoughts that the big man is on top and in full control.

I also understand you talk about investors and community and fully trust hat things are going to be great again.

I hope so!

BUT ... remember Worldcom, Tyco, Enron and many giant companies how they lied to their investors, people even own employees - to survive?

There were warnings and little red flags here and there but most didn’t believe them - until too late.

That’s all I’m saying and not necessarily LTC but many other coins. Positive activities and developments are the key for any crypto to live on.

CL sold all his coins because according to him; he prioritized his tweeting activities over ownership of his baby!!

https://techcrunch.com/2017/12/20/litecoin-charlie-lee-conflict-of-interest/

To me, that’s the dumbest excuse a tech / crypto lover / inventor could come up with!!

I hope I’m wrong ... I have been wrong in the past - many times!!  ;D

Are you seriously going to disagree with that? What do you think would happen to Bitcoin if Satoshi suddenly appeared in public and said that he's not going to be involved in the project anymore and he's selling all his Bitcoins? Because that's what Charlie did with LTC.

You can also see that this move was reflected in the price because he did that in 2018 and since then LTC went from 300 to 40 dollars.
saying that BTC was in a bear market also doesn't cut it because Bitcoin is worth between 40% and 50% of its ATH. LTC can't even go back to 25%.

well, I totally agree with what you said because litecoin can now be said to be sleeping because all developments have been implemented when in 2018 so at this time the price of litecoin only goes with the flow and there is no good news yet but I am sure someday there will be good news which could trigger an increase in litecoin prices again.