Friday 22 January 2016

Litecoin: doomed, failed cryptocurrency. Sub $2 before April 2016.


The litecoin community is a very delusional one at times. Other opinions are not accepted at /r/Litecoin. When I wrote about how I believe Litecoin is doomed for failure, the moderator banned me. I requested to be unbanned several times, but he continues to mute me. /u/bossmanishere is a very childish ''moderator''. The censorship in /r/Litecoin is worse than in /r/Bitcoin (I haven't been censored in /r/Bitcoin, but I have been in /r/Litecoin).This just proves that Litecoin community is no different from the general complains about the /r/Bitcoin community. Litecoin is simply a copy, it doesn't do anything better really, and even if it does, the fact that it is so small and barely used makes those improvements obsolete.For the past 3 years, the Litecoin community has been preaching members to ''hodl'' their coins. The ''halving will surely improve the price''. On the contrary. Litecoin keeps going down. In fact, it is a miracle that it is worth more than $2 at the moment.Litecoin will fade into obscurity. Nobody really cares about it. I doubt the dev team is even active. It's ignored by Coinbase and other companies.It's merely a pump and dump coin. And most people have realised this by now, so repeating past cycles is almost impossible. Most of Litecoins are mined for free in China. The only reason it's still ''alive'' is because Litecoin miners make money regardless of the coin being worth $50 or $1. They mine for free, dump at any price. At some point, people will stop buying (purchases are gradually going down as we speak), and the price will go down with it.I predict LTC sub $2 before April 2016 and sub $1 before the year's end.Litecoin might not be dead, but it surely is dying. via /r/CryptoCurrency http://bit.ly/1nDmx5U

No comments :

Post a Comment