Bitcoin Forum

When I first discovered crypto. BTC, LTC, DASH, stood out as practical coins.

I don't hear much about LTC nowadays.

Is there a preffered LTC wallet?

Are people using it much?

I just answered some of my questions at the litecoin foundation site.

This is obviously a bit one sided info...

What is going on in the real world of LTC?

Is the foundation info pretty straight?

I don't pay much attention to Litecoin but I read some posts about the team adding more privacy and anonymity features. That could turn out to be good and adds more value to the coin.

Other than being a substitute to bitcoin in sending for a lesser fee and faster confirmation, I don't really see much value in it. Other people may think otherwise of course.

For the wallet, they have plenty of option. Visit their website https://litecoin.org/ and scroll down.

If you want to stay updated about this coin's development, follow Charlie on twitter https://twitter.com/SatoshiLite or check their announcement thread https://bitcointalk.org/index.php?topic=47417.0


editing: Here are some of the recent news about Litecoin as posted by Charlie

Tons of great Litecoin news recently.
• Litecoin Visa card
• Grayscale Litecoin Trust (LTCN)
• Privacy/fungibility with Mimblewimble testnet soon
• Hashrate up 50% this year
• Transactions up 100% this year
• Total addresses up 400% since Aug 2017
• $500M sent per day
- https://twitter.com/SatoshiLite/status/1295908132737040384

You can't trust everything he says of course but other informations are verifiable on the blockchain.

I think that you didn't watch all of the news related to the litecoin development, right? Charlie has clearly stated that the development of litecoin will not be continued due to the company is not having enough funds to do that.
Litecoin will also stuck at this place.

There are a lot of e-commerce and dark market sites that still accept LTC. There are many advantages with Litecoin, such as very low transaction fees and quick confirmations. The only problem is with the storage, as online wallets such as Blockchain.info doesn't support Litecoin. So you either need to use online wallets specific for LTC, or multi-coin wallets that support Litecoin.

You can try this wallet: https://electrum-ltc.org/

I don't know if you are familiar with Electrum, a lightweight BTC wallet. And then there is a version of it as LTC wallet. I think it's one of the best LTC wallet in terms of usage and just like it's big brother, it is also lightweight and you have total control of the private keys.

Do you have a source? I checked but there were articles that Charles Lee refuted allegations that Litecoin development was abandoned; one of them was dated around a year ago

https://cryptoslate.com/charlie-lee-litecoin-development-alive-and-well/

I didn't hear someone using it literally in years, can't say much on wallets.
There weren't much updates on it either, I haven't seen single article about ltc in months.
I don't know what drives ltc dev team because they're in much better position than most other alts

As far as I know these coins are used a method of payment and the the usage they have is merchants accepting them.as payments. I personally have learnt to stay away from ltc.Not saying it's bad for investment , just my personal opinion.

Litecoin is main coin i am always like it, i hope it will pumb as ETH!

we have the same idea regarding litecoin. it is used to transfer funds between individuals or businesses without the need for an intermediary such as a bank or payment processing service. however, it not that bad to put some investment in ltc since this is for long term,those who had a Litecoin investment for the whole year still would have secured a 40 per cent return.

Still alive and doing well as far as I know. They might not be as famous as other coins, but they are still here and being the guinea pig for bitcoin. Which means that before being implemented to bitcoin, Litecoin will do it first, like the block halving.


There's a lot who already answer it.


Yes, as investment, store of money or simply money. Specially when fees in BTC and ETH are high, traders or gamblers switch to Livecoin.

As far as i know there is still a lot going on regarding development of litecoin, they are also used as a payment provider because of comparatively faster and cheaper transactions than bitcoin. Litecoin is also a good choice for miners as it is one of the most renowned and reputed pow coin to mine.

LTC was once one of the top altcoins in this market, in 2017, LTC pumped a lot and helped many people to profit. But since it became known that the creator of this project sold all of his LTC, the price has been steadily going down and not getting too much interest from investors. Now I also no longer invest in LTC, I only hold Bitcoin, ETH, BNB and LINK ... those are the top altcoins in this market.

If you wanna know what's going on with LTC and then i just suggest you to regularly watch the charlie lie's twitter because he was also regularly updating about the development was happening with litecoin.

I should remind you about this news too

https://www.trustnodes.com/2019/10/10/litecoin-foundation-running-out-of-money#:~:text=The%20Litecoin%20Foundation%20(LF)%20barely,about%20%24200%2C000%20on%20merchandise%20sales.

The foundation is not so active to release the latest news regarding the progress that has already achieved. it's better for you to watch it through the charlie's twitter account.

https://twitter.com/satoshilite

If you want to follow the development of Litecoin then the best way to do that is to get inside their forum and their social media channels, Litecoin is still doing fine, it's doing great in the market, they are in the number seven position in the market volume is still high, and there are many exchanges that have Litecoin pair and I'm always using it to trade whenever I have problem with the top coins transaction fees, I will still see it on top of the market in the coming years.

I have not heard any news from this coin a long time ago and I do not know if there is any development. I sold this coin during the last growth and probably will not invest in this project anymore

I also didn't hear too much news from this project, everything seemed too quiet. Even in the last bull run, LTC has not seen any growth, it is no longer the leading altcoin in this market so I think quite a few people are investing in it right now.

I will give you a little tip if you are looking for a certain wallet of an altcoins go directly to the official website by doing it you can avoid fake wallets and phishing, you can easily find a wallet on their website. @To OP ~ There is nothing special about litecoin it is just like to some other fork of bitcoin like BCH, etc. Apart from mining rewards I dont see anything that we can benefit from litecoin.

Litecoin official site: https://litecoin.org/

https://i.imgur.com/GeTBD6Y.jpg

There's a plan on starting LTC 2 soon with more privacy focus and some other development. Although Charlie Lee was having some experience by creating LTC, it has turned into great alt of BTC.
For wallet, you can try the Electrum compilation LTC wallet. That's the best in my opinion.

Litecoin LTC is among the top coins that we can call the pioneers of the crypto market so naturally litecoin has its huge community and supporters that keep driving the market. With dev working on scalability and lightening network litecoin will try to sustain its top position in the market.

Noticed that hashrate distribution of ltc is excellent.
I'm thinking it will weather the scammer coin storm going on.

it has become fashionable to launch project 2.0? it seems to me that this is how old projects are trying to attract attention to themselves again, but it's useless. I think that these old coins are no longer interesting to anyone

Back in the day the use for litecoin was to make the big developments on litecoin first and see how it would work out, if they could make the litecoin version work and there was no trouble, they would make those changes in bitcoin as well, sort of like the blockchain development site for bitcoin developers.

This obviously was seen as a great thing by the litecoin people as well because we are talking about litecoin getting technological breakthrough before anything else and always have the cutting edge technology in the finance world. Obviously after a while all these new coins coming up proved many things and there is nothing litecoin can do to help out bitcoin anymore since it is all out there, so now it is become less useful every single day.

Me too haven't heard of Litecoin these days and I'm just using it for betting on casino it's great that you opened a thread like these now I know what's happening and news about litecoins.

Litcoin(LTC) one of the popular coins now. If you are from  European country you can use coinbase wallet. Its best or European. But the problem is coinbase transfer fee is so high. You can also use trustwallet. I used both. Trust wallet has one best benefit that is You can set the fee yourself. You can use 1 satoshi for fee. But It takes a long time to transfer cryptocurrency.

I see Litecoin as a testnet for Bitcoin, it has very similar code, Litecoin is a Bitcoin fork with a little bit changed parameters. Many new features were launched on Litecoin at first before it was launched on Bitcoin, so this is probably the only useful use case of Litecoin - testnet for Bitcoin´s development.

There was a moment in time in which litecoin was seen by the community with very good eyes and many thought that bitcoin will become a store of value while litecoin will be in fact the coin of use for your regular transactions, but it seems that is never going to happen and such the biggest use case for litecoin is to be a sandbox for bitcoin, that way we can see if a particular update in the code bitcoin will work and if it does then that code can be added to bitcoin with no issue.

Commissions in the network are lower, I use LTC to transfer money from exchange to exchange. It would be interesting if LTC also joined DEFI

I don't think Litecoin can be a defi unless they make a swap of coin to another blockchain. Litecoin surely is a preferred coin for low fees transfers as they are quick and accepted on most exchanges. Litecoin is also one of the popular trading pair. But personally I don't see a future for Litecoin. They were introduced as a lighter alternative for bitcoin but now there are multiple of coins that are lighter. And the founder of Litecoin actually sold all of his coins and is no more actively participating in its development.

Being one of the most settled cryptocurrencies, it’s less risky to invest in Litecoin than in newer currencies. I use it for fast transactions and low transaction fees, also because It is traded on nearly all crypto exchanges.

All 3 coins are mostly the same. LTC is total BTC copy, DASH is a tiny bit modified. And then there are 1000 other Bitcoin clones. Most popular are Doge and BCH. Usecase of all is totally same. At the very end there will be only one used.  

It used to be because people wanted an alternative to Bitcoin that could be mined with different hardware so they developped scrypt mining.

Now there's so many altcoins that the importance of LTC has disappeared.

Personally I stopped caring 3 years ago when LTC founder sold his coins.

That would be funny actually. I personally don't see Charlie and the Litecoin dev team to be implementing smart contracts on their blockchain but we don't know what the future holds.

Justin has been copying almost everything from ethereum and just renames them to make it sound tron-like.

CZ and his team has also been working on Binance smart chain. Anything that can be profitable, he copies too just like his copycat buddy Justin.

Most multi-currency wallets have Litecoin on their supported coins. Choose the wallet that you are comfortable with and is providing you the recovery words as if something happens and you uninstall the wallet.

Litecoin is still being used this time, the fees are low and it became underrated this time. And is still one of the most preferred altcoins to hold, worrying about it not making some noise? IMO, it's still a quite considerable altcoin to hold.

to me, Litecoin is just a tool for me to transfer money from exchange to wallet with cheaper fee. Besides, I don't see it making any contribution to our lives. The withdraw fee for Litecoin is very cheap, so in the past people used it a lot, it has a simple algorithm and is not as fussy as XRP.
Maybe that is why it has such great value, or possibly followed by the great whales always supporting it.

What if everyone uses Litecoin to withdraw? What do you think of the fee then or even the price?

It could probably see the fee going up as well, but it's good if you have some Litecoin though, gonna be cool if in the future the price picks up. But I will say that as a gambler it has a lot of advantage for withdrawal purposes.

is this a correct information? where did you get that information?

and if this information is true, I think there is no future for LTC

thanks for clarifying, I wasn't paying attention to litecoin neither and didn't know whats happening.
kind of surprising, because the project was a lot bigger than most of alts, yet it still couldn't pull it through

I still hear more about Litecoin and I do see it on the news more than most of the altcoins.

Anyway that the top ten altcoins are being mentioned you will always see Litecoin being mentioned there, like on Cointelegraph and Coindesk when they are talking about top cryptocurrencies to invest in, or other websites when they are doing technical analysis.

Moreover as for wallets, it’s not every wallet that accepts Litecoin, so you have to look for the ones that does. You can check out Coinbase wallet, they accept Bitcoin, Litecoin, Ethereum and lots of other altcoins.

My opinion is that it is best to work with the top 3 cryptocurrencies ... the rest, I think at this stage do not deserve attention and are unlikely to ever deserve. 
This is my opinion, which I do not impose on anyone

It's the reason actually they can't go up .They don't have enough funds to develop all the sight .We could find any news on the upcoming days if any update happen .But still just silent now .

Gee mate, have you been living on Mars? This is almost 2 years ago and the communication was 100% transparent. Charlie Lee posted this: https://www.reddit.com/r/litecoin/comments/7kzw6q/litecoin_price_tweets_and_conflict_of_interest/

By the way, he did not abandon Litecoin and is still very active on this forum (https://bitcointalk.org/index.php?action=profile;u=20651;sa=showPosts).

I'll leave it to you to make your own conclusion.

But don't claim LTC has no future, if you clearly have no idea what you're talking about.

Okay, I heard rumors about the founder of Litecoin actually sold all of his coins[/b] and is no more actively participating in its development.

_____

and according to some of the above



and if I conclude from the opinion above, the founder of Litecoin actually sold all of his coins. Because They don't have enough funds to develop all the sight.
_______


So, what do you think about the future of Litecoin for now?

As you can see, Charlie Lee is buying blocks of LTC. Now decide yourself. ;)

You can use the Coinomi wallet & Trust wallet For LTC. Yes, I use LTC to save my trx fees. A few days ago used LTC. Btc withdrawal fee is higher than LTC. I chose LTC to withdraw my money and it cost around 2-3 cents to withdraw money. I use LTC for low fees & fast confirmation.

Same here.Litecoin is one of the best currency to use for withdrawal since the TX fee is too low compared to other currency specially Bitcoin.
Litecoin is also one of the most promising currency and just waiting for the right time to spike so decide for your self OP if you will indeed invest in this one or will pass for now.
But never forget that since this has lowest fee yet safer to invest since part of top 10 currencies though of course Invest in Bitcoin and Ethereum also because of the Bear will surely spike these 2 .

Litecoin is still good fast to confirm and cheap, it's a good option to use now that people are having issues transacting with Ethereum because of the very high fee, I'm using it after the high fee broke out, there's not much update about Litecoin that members are posting but I'm long term hodlers of this coin it's one of the coin that I trust, because over the years it did not fail me.

Awesome, I think this is good news for Litecoin holders because the founder bought a lot of Litecoin. And I hope Litecoin will TOO THE MOON again!!

Thank you for the response :)

I only use Litecoin because the coin's transaction fees are very cheap and used a lot in transactions. One more thing, Litecoin's value is very low and I can be sure LTC will hit $100 soon by the end of the year if market conditions are good. Of course, there are still many things you need to consider but overall Litecoin is still a good choice for investors.

Sorry for being a pain in the *ss, but if you only use LTC for cheap fees and being used a lot in transactions, exactly what are you using the other coins for and why (edit: apart from speed, in which LTC probably also is one of the better options)?

Yes, I personally use Litecoin a lot, if I buy something somewhere and use crypto as payment.
Simply because BTCitcoin serves me only as a "value store"...
Litecoin is the "Silver" and BTCitcoin are the "Gold".

To justify this, is quite simple, and also already has been written from earlier ones here:

Transaction fees!!!

For Litecoin, the current rate of fees for a normal transaction are between 0,02€- 0,04€.
And here. is the transaction in the worst case after 5 min done and confirmed...

In my knowledge, at BTCitcoin, on the other hand, we are currently between 3,00€ and 4,00€ transaction fees and waste a lot of time!!!

I think, considering the cost factor, the advantage is clear here...

For me, LTC was the second coins that I have used after BTC since I started my cryptocurrency business, I started by earning a lot of LTC from faucets sites, I did not use a specific wallet to store LTC but kept it on exchanges.
Currently I use an Atomic wallet to store an LTC. It's a great wallet and supports a lot of coins, for me LTC main use was sending coins from one exchange to another due to the speed of transmission and the low fees.

Litecoin is a true Bitcoin´s alternative. People switch to Litecoin every time when Bitcoin´s network is overloaded and transaction fees are too high. For example, when people paying for coffee, they need a fast and cheap transactions, they do not need such network security as Bitcoin has :).

Well, i see lite coin as a preferred alternatives for bitcoin and from most websites I have visited i have used bitcoin or lite coin as a payment mode which I find great. One strange thing is that I do not use lite coin wallet. I do all transactions straight from the exchange to the payment service

I usually use it only to reduce transfer fees because when withdrawing bitcoin is of course very expensive, besides that another use of Litecoin is buying digital items and also I use it for gambling because there are so many sites that provide Litecoin pairs

Litecoin is like a sleeping giant,it is also giving gradual profit for the holders and in terms of usage it is one of the best to use at the moment because bitcoin and ethereum transaction fee are getting higher so people prefer coins like transaction for cheaper amd faster transaction.

If the information above which said that Lee is now buying those blocks and start kicking this statement now
will be coming into reality, LTC is just resting for a while.
There are big potentials that it will go high again and will start competing with other coins around, for now it's
been enjoyed as alternative for withdrawing since the tx fees are too high
From BTC and ETH, though there are still many options but traders use this coin as an alternatives to deal with
their transfer between wallet to wallet or exchange to exchange.

LTC is indeed one of the old coins. Not long after Bitcoin appeared, then LTC came as an alternative. Maybe if I'm not mistaken, LTC came before Ethereum. However, LTC is out of competition with Ethereum, so it is rarely discussed. I also rarely use the official LTC platform. If I buy LTC, I will keep it in an exchange wallet.
If I reread the history on coinmarketcap. Based on their data in 2013 there were only 7 coins, one of which was LTC. Ethereum is not there, it may not register or it is not yet born. https://coinmarketcap.com/historical/20130428/

They are mainly used for profit, and many are good at it. Basically, now is the gold accumulation time for this coin and the price is still attractive. But many expect the price to drop even lower than 0.00044Btc

Usually, before Tron and Doge, LTC was the first preference by gamblers, traders for lowering the withdrawal profits in less time. Due to the confirmation time and lower mining fees, LTC keeps its position but the tweet by CEO Lee has destroyed the reputation in the eyes of investors. So think twice before investing big amount and never forget the gold rule of investing: Invest what you can afford to lose. Otherwise, the Fallacy of investor will happen.

Many people use Litecoin. For fast trx. also 10-15% of dark web trx made via litecoin. Many people prefer litecoin to gamble. I use litecoin to save fees. Actually you are not seeing a discussion about litecoin because you didn't search it or find out. I saw there are lots of threads there people talking about litecoin.