Litecoin opinions

Good old Litecoin, I'll put it this way, it will probably be around forever. This coin is something very special for me because it was the first Altcoin besides Bitcoin with which I gained experience.

Litecoin is a peer-to-peer cryptocurrency created in 2011 by Charlie Lee, a former Google employee. The cryptocurrency was created on the basis of the Bitcoin protocol but differs in terms of the hashing algorithm used, the hardcap, the block transaction times and a few other factors. Litecoin was published on GitHub on October 7, 2011 via an open source client, and the Litecoin network went live five days later on October 13, 2011.

Litecoin is a peer-to-peer internet currency that enables instant payments with almost no cost to anyone in the world. Litecoin is an open source global payments network that is completely decentralized with no central authorities. The math secures the network and enables the individual to control his own finances. Litecoin offers faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With significant industry support, trading volume and liquidity, Litecoin is a proven trading medium that complements Bitcoin.

Personally, I became aware of the coin in the summer of 2017 and was able to collect it here and there online. I still hold Litcoin today and that won't change anytime soon.

In my opinion Litecoin is a good alternative to the crypto-standard Bitcoin and could be called its little brother. Similar to Bitcoin, I see LTC primarily as a store of value, but with a slightly more speculative touch.

What I particularly like about Litecoin is that - although it is one of the oldest crypto currencies - it is constantly evolving and innovating. For example, technologies like lightning were also developed through Litecoin and after this "test phase" adopted by Bitcoin. In my opinion, this additional feature as a quasi test currency for Bitcoin makes the project particularly valuable for the entire crypto-sector and is largely owed to the strong developer community behind Litecoin and its Charlie Lee.

Another aspect would be the ability to cash out even during ATH's due to the relatively high market capitalization and thus having the confidence to invest in Litecoin even during huge price gains. In the future, I continue to see Litecoin as a conservative pioneer for Bitcoin, as well as a good option for portfolio reallocation and risk distribution.