Holding alone does not make a currency. To take that step you have to have both widespread commerce AND widespread holding. Litecoin is severely lacking in commerce.
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Holding alone does not make a currency. To take that step you have to have both widespread commerce AND widespread holding. Litecoin is severely lacking in commerce.
sure, but the more people hold the more it will be worth more. Thats the reason why the price is pretty stable when it comes to litecoin because people hold.
Holding alone, with no utilitarian function is not stable when there's an event that causes widespread need to cash in their liquidity. Commerce is the cushion against such events, if it doesn't come in the long run then you may as well be investing in a pyramid scheme.
I don't know man...Litecoin is still an awesome coin. It's just for now not many people are exchanging actively because people are holding onto it until it skyrockets.
What exactly is awesome about it that isn't available in other coins with better network effects?
What is awesome is it is a stable coin price wise and has good patterns. Just because the majority doesn't exchange the coin doesn't mean its bad. Many places in canada have litecoin atms, as well as many places here in america do as well. It is a growing coin with awesome potential. Keep and open mind. That is why I don't only invest in litecoin, never keep your eggs in one basket.
Litecoin is not more stable than the other top cryptocurrencies. By what measurement have you determined that?
Currencies are dependent on people using them for trade, it's a little concerning that you would imagine otherwise. Yes people not using it does make it bad as a currency.
I was talking about the consistency of the over all price. Of course, nothing is for sure, but it looks good. And it is becoming more and more mainstream, and it will become more exchanged as time goes on, its just right now, a massive following of the idea of H.O.D.L for litecoin.
It is way more practical for everyday use, keep that in mind as well. If the demand for it goes up, which it is, you're going to wish you have invested in it.