By 2050, it is predicted that Litecoin will be the currency you will use to buy and sell products and services. Most of the fiat currencies will disappear.
These cryptocurrencies are still at a very nascent stage. Either they will be massive or they will vanish. We still cannot predict the future path these coins will take.
Currently it is the next big thing after the Internet. It is Web 3.0 with payments in short if you say. People who believe in these coins are not worried about their value in 2030 or beyond but they are waiting for the day when Bitcoin will be the only currency they can transact in. The believers want to see this day everyday.
Either way, we would like to suggest you to do your own research when it comes to investing. If you believe in Litecoins or other coins, you will not have to worry about the price. Else you can make some profits and get out before the market crashes.
Here’s a list of reasons why Litecoin will survive :
- Litecoin is capable of eight times as many transactions as Bitcoin in a ten minute period. Frankly if payment processors had adopted Litecoin in the past year current Bitcoin block discussions would be irrelevant (and likely the price of both coins higher). Anyone who has watched these discussions understands the immediate advantage of a network with larger transactional capability
- Faster confirmation times. The only people who don’t think this is important have never spent a single coin or they have patience that the average person does not possess
- Blocks are not full and the system is scalable
- The faster block time of litecoin reduces the risk of double spending attacks
- It is an Anti-spam currency
- Upcoming new features and active development look here for whats happening in 2017:
- Longevity. Many coins have overshadowed litecoin as they were marketed for the purpose of increasing the fiat accounts of a small group and emptying the accounts of new users. Unfortunately this has been detrimental to crypto-space
- It has big and great community. It definitely helps when consensus is needed.
- Unlike Bitcoin, it is possible to make changes to litecoin
- Fully supported by GoCoin a growing merchant payment processor used by thousands of merchants as well as other processors such as coinpayments, Asmoney, Alfacoins and Coinify
- Liquidity is one the other major reason. You can sell thousands and not crash the market. Maintains value. You can have a look at it’s charts and you will know
- The speed, liquidity and value of Litecoin is useful to traders seeking arbitrage opportunities between exchanges
- Fair release. In a crypto world of premined and ICO releases many appreciate this fact. The code was released well before the Genesis block was mined and everyone knew when it would be going live; therefore, individuals could anticipate and get their miners and software ready
- Many low value coins can be merge mined with it increasing profits for miners
- It will always maintain the integrity of the blockchain (no hard forks for special interests)
- Recently activated segwit on it’s network with virtually 100 percent consensus
- The possibility of utilising side chains for smart contracts without the possibility of corrupting the original non-turing complete blockchain
- Potential of using the Lightning Network as a method of increasing transactional capacity.
- Presence of leader like figure – Charles Lee. Many people still have issues with Bitcoins because they cannot trust money with no control over the future
- ASIC resistant. Litecoin took Bitcoin code and changed its algorithm from SHA256 to Scrypt . This has avoided centralisation of mining activities.
- Less political. Bitcoin is plagued with internal political wars over who control the future development of Bitcoin
- Faster to adopt new technologies. Bitcoin is so massive that any single change may require a year of infighting
We think we have pretty much summed everything, but still there would be many things unanswered, if you have any of such information, please let us know in the comment section.