234What are the long term prospects for Litecoin?(self.litecoin)submitted by I hold some litecoin...i bought some recently as a hedge to Bitcoin uncertainties but curious to how those more involved in litecoin see it and its place in the longer time... thinking about holding for a while.already took some profits in the recent spike, so its free investment now :) π Rendered by PID 12923 on app-356 at 2017-06-24 11:13:35.091406+00:00 running 3522178 country code: SG.Coinbase has just rolled out full support for Litecoin, its third cryptocurrency.Users will be able to buy, sell, send and store Litecoin from Coinbase’s website or mobile apps, using easy payment methods like a credit/debit card or PayPal.While Coinbase was founded as a platform to transact only with Bitcoin, the company has since announced its intent to add other cryptocurrencies with the broader goal of becoming a “digital currency company.” Last summer Coinbase added support for Ethereum, which is now the second most-popular digital currency with a market cap about one-third the size of Bitcoin’s market cap.

At the time, the reasoning was that Coinbase saw Ethereum’s focus on smart contracts as a tangible improvement over Bitcoin, and not just another alt-coin that doesn’t serve any real function.Interestingly, Litecoin’s creator, Charlie Lee, has been director of engineering at Coinbase for nearly four years.And while there were always ongoing discussions about adding Litecoin to the platform, they didn’t really materialize until recently.Lee explained that it’s been a slow few years for Litecoin.While the digital currency had a heyday in late 2013 with its price spiking to over $50 per coin and over $1 billion in total market cap, it quickly fell back to earth and basically remained flat for three years.So why the sudden change?If you’re familiar with Bitcoin you know that the community is facing an internal struggle with deciding how to scale the currency for the future.Essentially, Bitcoin’s original code wasn’t designed to process this many transactions on a daily basis, and now the network is charging too much per transaction, which takes too long to confirm.

Luckily there are two main proposed solutions: Bitcoin Unlimited, which aims to get rid of the block size limit altogether, and Segregated Witness (SegWit), which wants to slightly increase the block size while also moving some non-essential data out of the transaction and off the blockchain.Both solutions would require a “fork,” meaning the majority of miners would have to agree on the changes and signal to slightly alter the currency’s blockchain.litecoin google playSo far the Bitcoin community has been unable to reach a consensus on how to fix the scaling issue.bitcoin atm koreaA few months ago Lee and the Litecoin community decided to work on implementing SegWit into Litecoin.bitcoin robinhoodAnd after heated discussions with the biggest players in the Litecoin mining community, the group reached consensus about a week ago to implement SegWit.litecoin russia

Last week, miners “voted” with their hash power to signal for SegWit, and the actual code will be implemented next week.While Litecoin is still small enough that it’s not suffering from the same scaling issues as is Bitcoin, the team thought it’d be a good way to bring something exciting to Litecoin.Plus, SegWit has some other benefits besides just increasing network capacity.bitcoin wallet cheatIt prevents malleability, which is essentially the risk (that currently exists in Bitcoin) that third parties can alter transactions before they are confirmed by the network.bitcoin uprisingImplementing SegWit will also allow Litecoin to experiment with something called Lightening Networks — which would essentially allow for instant Litecoin payments off the main blockchain, with transactions only settling on the chain when they need to.bitcoin federal auction

And perhaps best of all, these recent developments have rekindled interest in the Litecoin currency, sending the price (and more importantly, volume) skyrocketing.This increased trading volume is what finally allowed Coinbase to implement Litecoin, knowing they now have a liquid enough market (on the Coinbase-owned exchange GDAX) to supply user demand.Essentially, Lee sees Litecoin’s long-term goal as being able to help Bitcoin alleviate some transactional volume by taking over smaller, less important transactions.bitcoin dogecoin chartsSo you could use Lightening Networks on Litecoin to buy a coffee with zero confirmation times or transaction fees.is bitcoin like barteringBut if you’re wiring $50,000 to your bank, you could still use Bitcoin for the increased security that comes from a bigger network of decentralized miners.He also sees Litecoin as a testing ground for future Bitcoin features.

If Litecoin can successfully implement SegWit and Lightning Networks, it may show the Bitcoin community that these features are clearly the way to once and for all resolve the capacity issue.I'm going to have to agree with my peers here.Bitcoin has the most powerful network behind it, it has the first mover advantage, it has massive amounts of venture capital pouring into it, it has services and products being built around it.Unless there were some disaster that befell Bitcoin that it absolutely could not recover from, which is unlikely, Bitcoin is firmly entrenched as the leader until there is another paradigm shift in the industry.Because, let's be honest, even Bitcoin will fall someday.I just don't think that someday is any day in the foreseeable future.Neither, Bitcoin has some problems which have been corrected by only one coin.Monero - Dynamic block sizes, tail emission, much better fungibility with on chain mixingThis article was posted on Saturday, 13:52, UTC.On Wednesday night, several traders were wondering if the cryptocurrency market was in for another major correction, as Bitcoin fell by 10% in a short period of time.

To answer that question, we took a step back and looked at the long-term chart of the most valuable crypto-coin.We concluded that it’s still in an uptrend both short-and long-term, but also added that: // -- Discuss and ask questions in our community on Workplace.Don't have an account?Send Jonas Borchgrevink an email -- // Is this the best time to buy Bitcoin for the long run?Probably not, even if the fundamentals are there, and it will most likely rise much further than the current levels.So, why it is not a good idea to buy it?Because a 30%-40%-50% correction, that has been normal for Bitcoin in the past, is a huge psychological burden that makes a panic sale likely, usually just before the bottom.Because of this, it is better to wait for the correction and oversold readings, even if you will buy it at a higher price later on.Are the other cryptocurrencies any different regarding the long-term picture?As all the major coins were strongly correlated during the 30+% correction two weeks ago, one might believe that, in fact, all of the coins have a similar long-term technical setup.

Today we will take a look at the other three most traded cryptocurrencies, and show that this is not entirely correct.Ethereum is in a similar technical position as Bitcoin, being overbought after a monster rally, right at its all-time highs.ETH dropped as much as 50% two weeks ago but that wasn’t enough to clear the overbought readings on the momentum indicators because of the quick snapback rally.Last time ETH was showing neutral momentum readings on the daily chart was in late April, when the price was at $50.This year Ethereum experienced a 500% and a 600% rally, both coming after a consolidation period.Litecoin’s chart is looking promising from a long-term perspective, as LTC is after a lengthy and deep (-55%, after 1000% of gains in 5 weeks) correction, while several signs point to a bullish turning point.The MACD indicator provided a buy signal, the price has been consolidating in a narrow range below the top of the consolidation pattern, and trading volumes have been declining progressively during the correction.

While it is entirely possible that LTC will consolidate more if Bitcoin enters a correction, it will likely outperform both BTC and ETH in the coming weeks.Ripple has been the most volatile major coin, rising 7-fold in two months, and experiencing a 70% decline since then.The three-week long correction carried the MACD indicator close to neutral territory, but it still shows bearish readings.XRP might need more consolidation before a significant break-out, but it is closer to a long-term buy signal than BTC or ETH.If you believe that cryptocurrencies are just at the beginning of their success stories, then there are several ways to profit from the boom.As we stressed in our article on Bitcoin: “…not all strategies are binary (either holding an asset or not).There are many long- and short-term investment and trading strategies that can be successful in a roaring bull market like the one that the crypto-coin segment is experiencing, but mixing the time-frames and mixing trading and investing (see our article on the topic) could lead to troubles.” Here are some of the possible strategies: We will keep on providing all the short- and long-term information you need to pursue whatever strategy you choose.