Half of 2017 has past and a lot has been going on in the Crpyto world. For those of you who are into crypto, do you think Litecoin will be a good investment in 2017? Personally, I think it is and I will tell you my thoughts.
Firstly, Litecoin has already released the Segwit update in May and now they are working on a lot of new features with a lot planned for 2017 in terms of development. The Litecoin Roadmap can be seen here: https://litecoincore.org/ which includes all the planned updates for 2017. There are a lot of fun stuff like implementing Lightning network and adding smart contract. I think they can potentially even compete with Ethereum in the future with smart contracts added to Litecoin.
The fact that Litecoin was built upon Bitcoin meant that anything that can be on Litecoin can also be put on Bitcoin and people have been saying that Litecoin is a clone to Bitcoin. However, there are a few reasons why I think Litecoin will still do well. Litecoin has good leadership and Charlie has a clear vision of what he wants Litecoin to achieve. You can read his vision here: https://segwit.org/my-vision-for-segwit-and-lightning-networks-on-litecoin-and-bitcoin-cf95a7ab656b. On the other hand, the creator of Bitcoin, Satoshi Nakamoto has disappeared and stopped developing Bitcoin and Bitcoin is only left with politics. Bitcoin is about to release their Segwit update but because of politics, Litecoin released Segwit before Bitcoin. Litecoin is already working on Lightning network and smart contracts while Bitcoin is still worrying about Segwit due to their politics with a potential chain split.
I also feel that Bitcoin is a bit of a bubble because it doesn't do well on what it is supposed to do. It is meant to be a currency but it has high transaction fees due to scalability issues and this will only drive away companies from using them. Litecoin on the other hand has been constantly working on scalability even though they don't need it. Planning ahead is always a good idea.
The only reason why Bitcoin is so expensive is because it was the first crpytocurrency and people had success with using it to store value. It is only good for storing value but there is little value in Bitcoin. Once the bubble bursts, all the hype will be on Litecoin, the coin that has better leadership, technology (currently) and vision.
I did only compare Litecoin with Bitcoin due to their similarities as it looks like Bitcoin has been hindering Litecoin's price. Personally, I think the Bitcoin bubble will burst and Litecoin will take over as the Crypto King but even with Charlie's vision of both Bitcoin and Litecoin working together with atomic cross-chain transactions, Litecoin's value will still rise in the next few years. At the current price, I think Litecoin is a pretty good investment. Even if everything I said is wrong, with some development the price of Litecoin is expected to rise.
Firstly, Litecoin has already released the Segwit update in May and now they are working on a lot of new features with a lot planned for 2017 in terms of development. The Litecoin Roadmap can be seen here: https://litecoincore.org/ which includes all the planned updates for 2017. There are a lot of fun stuff like implementing Lightning network and adding smart contract. I think they can potentially even compete with Ethereum in the future with smart contracts added to Litecoin.
The fact that Litecoin was built upon Bitcoin meant that anything that can be on Litecoin can also be put on Bitcoin and people have been saying that Litecoin is a clone to Bitcoin. However, there are a few reasons why I think Litecoin will still do well. Litecoin has good leadership and Charlie has a clear vision of what he wants Litecoin to achieve. You can read his vision here: https://segwit.org/my-vision-for-segwit-and-lightning-networks-on-litecoin-and-bitcoin-cf95a7ab656b. On the other hand, the creator of Bitcoin, Satoshi Nakamoto has disappeared and stopped developing Bitcoin and Bitcoin is only left with politics. Bitcoin is about to release their Segwit update but because of politics, Litecoin released Segwit before Bitcoin. Litecoin is already working on Lightning network and smart contracts while Bitcoin is still worrying about Segwit due to their politics with a potential chain split.
I also feel that Bitcoin is a bit of a bubble because it doesn't do well on what it is supposed to do. It is meant to be a currency but it has high transaction fees due to scalability issues and this will only drive away companies from using them. Litecoin on the other hand has been constantly working on scalability even though they don't need it. Planning ahead is always a good idea.
The only reason why Bitcoin is so expensive is because it was the first crpytocurrency and people had success with using it to store value. It is only good for storing value but there is little value in Bitcoin. Once the bubble bursts, all the hype will be on Litecoin, the coin that has better leadership, technology (currently) and vision.
I did only compare Litecoin with Bitcoin due to their similarities as it looks like Bitcoin has been hindering Litecoin's price. Personally, I think the Bitcoin bubble will burst and Litecoin will take over as the Crypto King but even with Charlie's vision of both Bitcoin and Litecoin working together with atomic cross-chain transactions, Litecoin's value will still rise in the next few years. At the current price, I think Litecoin is a pretty good investment. Even if everything I said is wrong, with some development the price of Litecoin is expected to rise.
