Category Litcoin

Bitcoin and cryptocurrency prices are soaring, pushing the value of the entire cryptocurrency market over $2 trillion for the first time (though some think the bull run could be just getting started).

With the bitcoin price hovering around $60,000 per bitcoin, the psychological $2 trillion barrier was broken by sharp increases in the price of smaller cryptocurrencies ethereum, binance coin, Ripple's XRP and litecoin, according to data from crypto price website CoinGecko.

The bitcoin and cryptocurrency market has more than doubled in value so far this year, rising from around $750 billion at the beginning of the year. Bitcoin, by far the biggest cryptocurrency by value, makes up more than half of the cryptocurrency market capitalization and has traditionally led the market.

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Venezuela has announced that it will include cryptocurrencies such as Bitcoin and Litecoin wallets to its Patria’s Cryptocurrency Remittance Platform. The government authority has further updated that this step will allow the Venezuelan citizens to receive remittances in cryptocurrency form officially.

Although several Venezuelan citizens are already into Bitcoin usage and are using this cryptocurrency to make cross border payments, this new update from the government will give these transactions a formal status. Venezuela’s next step in embracing cryptocurrencies: Addition of Bitcoin-Petro Trading Pairs Venezuela is already a leading cryptocurrency usage market in the world.

The country is third in the list of highest cryptocurrency usage in the world. And the government is keen on pushing this trend and is making continuous efforts to increase and regulate the usage of cryptocurrencies. And this latest announcement is a part of these efforts.

The formal announcement of including Bitcoin and Litecoin wallets in the National Remittances Platform came through a Patria blog post. This announcement is a part of the Venezuelan government’s several amendments regarding crypto policies to counter the effects of US sanctions. Follow NewsGram on Instagram to keep yourself updated.

Read the full story on the website: newsgram.com.

Litecoin's highly anticipated privacy update took a significant step towards becoming a reality after the launch of its MimbleWimble test network. The limited trial version, which is currently accessible only to developers, is set for a mainnet release in 2021.

For investors, the move to increase Litecoin's privacy is an essential step in paving the way for really solid money and trades with confidence. But after a challenging 2020, could developments in the technology behind the cryptocurrency in trouble help it on the way to recapture its former glories?

Truly private transactions

MimbleWimble on Litecoin is an update that implements extension blocks for the Litecoin chain - allowing users to effectively mask their identities and trade with complete confidence.

Although it was announced in early 2019, the development of MimbleWimble did not begin until the arrival of David Burkett - Grin ++ developer - in December 2019. Subsequently, Burkett and the Litecoin Foundation successfully released the Github code for review and contribution by peers.

At the moment, testnet only comes with rudimentary features, such as mining and adding LTC nodes to testnet. For now, portfolio features will not be added.

While regulators have wary of privacy-centric cryptocurrencies as a significant threat due to their potential to promote money laundering, for many crypto enthusiasts the promise of true privacy and fungibility is essential to truly decentralized finance.

Litecoin has long been advocated for its practicality and the pace of transactions involving LTC. But could the arrival of truly private transactions drive the popular cryptocurrency upward, despite failing to live up to its optimism at the end of 2017?

Resuscitation for $365?

During the peak of late 2017, LTC reached an astronomical $365 figure. Today, it is a fraction of what it was before in a bearish crypto market, but the arrival of a long-awaited privacy update could be the shot in the arm. arm that the coin always wanted?

Litecoin's performance in recent months leaves little inspiration for investors, but in a market that is becoming increasingly dependent on external events to perform well, the move to a more private trading experience can help LTC to become a safe haven for adopters.

LTC was one of the first names to establish itself in the cryptocurrency market. Since then, it has become one of the largest currencies in the market based on its market capitalization. Today, Litecoin can be found on virtually all crypto exchanges, and with a Bitcoin to Litecoin exchange rate of 220.7 LTC ​​to BTC, there may be some perceived value investment opportunities for traders.

Litecoin's appeal comes from the fact that it is one of the most widely accepted cryptocurrencies on the planet. This means that it is possible to purchase a wide range of goods and services via LTC and, at the same time, use Litecoin to invest in several other emerging crypto projects.

Litecoin was created in a way that was designed to mirror the world famous Bitcoin. However, one of the main attractions of the LTC is based on the scarcity of the currency. The currency is only produced at defined intervals after the approval of a transaction block for the network. As a result, there will only be 84 million Litecoins produced - thanks to a simple equation from the coin's developers.

The LTC developers have recognized that because Litecoin processes transitions four times faster than Bitcoin, it can accommodate four times tokens with such good performance. Notably, the limited supply of LTC ensures that it will never be adversely affected by inflation over time.

Of course, Litecoin is a robust cryptocurrency that has stood the test of time during a tumultuous decade in the history of cryptography. But could the currency recapture its $365 peak in 2017 as a more privacy-centric currency once again?

Well, Litecoin was touted as a fair bet to increase in value at the end of the year, as long as the LTC can break its current resistance pattern and start showing signs that it can surpass its current valuation by a maximum of $50. According to Invezz, if the LTC can exceed $50, there is no reason why it cannot reach $70 in the not too distant future.

Litecoin remains a powerful currency in the crypto market at a more technical level and comfortably outperforms Bitcoin in terms of faster payment processing, in addition to significantly lower transaction fees to make LTC a more practical currency than some of the most famous names that populate the cryptocurrency markets.

However, renowned cryptography analyst Michaël van de Poppe doubts that Litecoin will ever fulfill its market potential and reach its previous highs. Instead, he told Invezz that he expects cryptocurrency to end up falling among the top ten currencies based on market capitalization:

“Crypto markets are undergoing a series of transitions that will result in a jolt to previously dominant assets. The first transition would result in maturation and market regulation for Bitcoin and blockchain, while the second would cause the disposal of 'overvalued Top 10 currencies', including XRP, Litecoin and Bitcoin money,” he noted.

The arrival of more privacy for investors and traders when it comes to Litecoin is undoubtedly a step in the right direction for cryptocurrency. As a currency with highly practical features, it is fair to say that these developments can help restore the relevance of LTC. Although we may be a little far from seeing a sustained peak in a crypto market in trouble. One thing is certain, Litecoin has repeatedly proved that it is here to stay.

source: fxempire.com

One of Litecoin's enthusiasts stated: Unfortunately, I don't see LTC improving anytime soon, but I will continue to hold on.

However, someone responded by stating that MimbleWimble is coming. Is Litecoin a leader in space development? I don't think so, but the currency is so ingrained in the cryptographic lexicon that it will remain around as long as the BTC is.

Many others are wondering if Litecoin has a future - those who are positive responded by stating More Future for LTC than any currency associated with its name.

When someone tried to reopen the conversation about why Charlie Lee sold his 100% LTC about 3 years ago - someone responded by stating that there are already zillions of interviews about it. A simple search on YouTube will find the answer. It's time to move on.

Sydney Ifergan, the crypto expert, tweeted:

“Whether Litecoin (LTC) will be of value or just a scam, we'll know in a few days. Mimblewimble coming."

Litecoin (LTC) Questions

Bill Barhydt tweeted:

“Tomorrow I will be with @SatoshiLite (Charlie Lee) at Money Talks to talk about the future of Bitcoin & Litecoin. We'll talk about the Litecoin Mimblewimble update and what it means for user privacy and the future of payments. Any other questions for Charlie?"

Commentators would like some questions to be asked. Any potential collaboration with Charles Hoskins and Cardano?

Some of them would like Charlie Lee to be asked about the planned CTV update (covenants), perhaps how it can complement LN and MWEB. In addition, they said that they are curious to know how MWEB can work in LN, will there be a separate network for each network or can it work together using these new smart contracts?

Did anyone want to know if the Litecoin ray network is a joke or will it be for the masses one day? Is it still a valid narrative?

Many love to hear about his updated ideas about LTC being the “least traffic road” in relation to BTC and how he sees it moving forward with BTC's LN. Furthermore, what your vision for MWEB implies.

A curious investor wished Charlie Lee to be asked about a recommendation on when to buy back all the LTCs he has sold so far.

Curiosity is also growing about which portfolios will support MWEB first. And how hard will it be for Abra to implement?

source: thecurrencyanalytics.com