Litecoin's transaction in $99 millions

[shultz1994]

https://www.reddit.com/r/litecoin/comments/8df9hj/thats_a_lot_of_money/

Litecoin users decided to show their advantage over bitcoin. Litecoin users conducted a transaction on 700 000 LTC (at the moment — $106 million).
But the essence of course is not in the transaction, but  in the Commission, which cost only $0.40, and the transaction was made in 2.5 minutes. If such a transaction had been made in a standard Fiat system, such an operation would have taken much longer, let alone a Commission.Will Litecoin be able to replace Bitcoin as a payment system?

[o_e_l_e_o]

This transaction is worthless as a measure of it being a good coin. Just as big transactions are a worthless measure for all coins. How often do you think people are transferring $99 million? Exactly. I want to know how much the fees are when I pay $1 for a hamburger or $2 for a coffee. If the fee is still $0.40, then that's 20-40% of my payment, and your coin is useless.

We should be judging coins on their speed and cost for small transfers, not large ones. And I do like Litecoin for various reasons, but there are coins like Nano that have zero fees.

[BQ]

It's the same for bitcoin or any other currency? You pay for the network to verify the transaction, not for the amount.
Crypto is therefore clearly better in that regard vs fiat, however, Litecoin is nothing in terms of speed/fee, there's plenty of cheaper+faster(than bitcoin/litecoin)

[Lontongmie]

I think that in the conditions of Bitcoin's modern growth, it is unlikely, because the capitalization and the price of Bitcoin started to grow again ..

[ohlawdy]

This transaction is worthless as a measure of it being a good coin. Just as big transactions are a worthless measure for all coins. How often do you think people are transferring $99 million? Exactly. I want to know how much the fees are when I pay $1 for a hamburger or $2 for a coffee. If the fee is still $0.40, then that's 20-40% of my payment, and your coin is useless.

We should be judging coins on their speed and cost for small transfers, not large ones. And I do like Litecoin for various reasons, but there are coins like Nano that have zero fees.

Add to that how much transactions it can make in a day , these numbers don't say much.

[muncuss]

Well, at least that show the advantage of crypto over bank. but i agree tx fee must be flexible for small and large payment, which is difficult to do it coz current fee is based on block data, not amount of transferred coin.
but we have no fee coin anyway

[cryptocue]

https://www.reddit.com/r/litecoin/comments/8df9hj/thats_a_lot_of_money/

Litecoin users decided to show their advantage over bitcoin. Litecoin users conducted a transaction on 700 000 LTC (at the moment — $106 million).
But the essence of course is not in the transaction, but  in the Commission, which cost only $0.40, and the transaction was made in 2.5 minutes. If such a transaction had been made in a standard Fiat system, such an operation would have taken much longer, let alone a Commission.Will Litecoin be able to replace Bitcoin as a payment system?

I would rather use nano over litecoin LOL,that speed doesnt needed,bitcoin wont be dethrone by any altcoins as long as people are using bitcoin as the main cryptocurrency,pairing trade with bitcoin makes it the alpha of all the cryptocurrencies in the market.Faster than bitcoin will be a good advantage well if all the investors will move their money to litecoin.

[idgaf007]

That was an impressive move by litecoin and im sure it will be noticed more with it's low fees in the future. This gives bitcoin a harder competition as many coins now are showing good improvements on fees, speed and technology.

[haryatiposton01]

Like all cryptocurrencies, Litecoin is designed to be decentralized and in hopes of becoming a faster and simplified currency, of course, the whole process of operation becomes simpler. In addition, the benefits of this cryptocurrency are under the spotlight of multinational companies like Starbucks and Amazon, who are actually thinking of adopting Litecoin on their site this year. This is good news for Litecoin fans, Litecoin shows the effort to keep getting better, talk about beating Bitcoin, I would not think much about it.