I love Litecoin. What I'm about to say IS NOT FUD, its TOUGH LOVE. As much as people will combat me, I'm going to say it: Litecoin is more than merchant adoption. Warning: Tough talk. TLDR: We need more CULT vision.
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Before I get the venom of some redditers let me just say: Don't tell me to sell. I have no intention to sell due to the intensity of my emotional attachment to my investment. Many influential people in blockchain regard Litecoin as just a copy and a testnet. In my observation this is because Litecoin hasn't sold the public the same CULT VISION Bitcoin and Ethereum and many other of the scam coins that got billions in funding recently. I believe most of these coins and their teams are so full of shit, but the gerneal public eats it up, and coins like Litecoin, with solid, humble principles, don't get the respect that some of the shit talkers get. I believe this is part of the reason Litecoin creator sold all his coins, so he can be able to talk the same level of shit as most of them, without worry.
For me, I want to see Litecoin be THE BEST IT CAN BE, and i'll nag the crap out of the community if I see us lacking a bit. I'm not here to spread FUD. When it comes to Litecoin, I'm like a psycho development advocate because I've done enough research to know where blockchain is headed and the coins/protocols/networks that do actually succeed, are going to be the BASE LAYERS for a radically different internet society from today. Plain and simple.
A few years ago, we all thought bitcoin was going to be just for payments - sending, receiving, and holding....nothing more. But its dead on clear now, Bitcoin, and hopefully Litecoin are going to be the value-bedrock for building a better internet connected world. A second chance at rebuilding the currently unsuitable internet we have today for tomorrows connected world. A properly built internet.
What im about to say, hopefully mods don't ban me or if this is censored, hopefully they'll approve it. Whenever I come to this forum for some Litecoin news its mostly about payments and merchants. Even tweets from leading devs, its mostly only focused on merchant adoption. While merchant adoption IS progress, many attractive coins are going after payments. Also the big secret in crypto is not many people are using these coins yet to make purchases. They would rather HODL. Even if they "spend and replenish", realistically, what percentage of Litecoin users do you think will spend and replenish? Again, its a healthy gesture to Litecoin, but it doesn't go far enough.
When I go to twitter and see everybody hashtagging #PayWithLitecoin and not at least vocalizing a DEVELOPMENT VISION FOR LITECOIN FUTURE, this is selling Litecoin short of really great things. Why aren't we looking at cool projects for sidechains and leading in research and development, adding original value to Litecoin? Why only copy Bitcoin's devs work? The leading privacy coin in the space just announced they are working on a sidechain called Tari. Cool stuff like this. Blockstack is A HUGE project (not a BS ico, look into it), this is an example of some of the projects we could be reaching out to. Not waiting for them to reach out to us, like RSK did. As I understand it, Diego reached out to Litecoin.
I truly believe Litecoin should at least be more vocal in a future vision to get non litecoiners excited about Litecoin, a vision which allows it to be more than Bitcoins scaling future, because maximalists certainly don't see it that way and whenever asked about it, all everyone says its just riding bitcoin's coat tail. Doesn't have to be that way.
Payment and merchants ARE needed. It creates demand for the coin. I know this because of my involvement in the Burstcoin community. The upcoming HF and technology improvements in Burst are amazing and welcome, but all this is worthless if the coin itself doesn’t have any liquidity, and you can’t use it for anything. So this is the overall main focus of the community right now, getting merchants onboard, raising awareness of what the coin is capable of.
Bitcoin would’ve gotten nowhere if it wasn’t for individuals buying pizzas and drugs with it. If everybody is just hodling and nobody is accepting it, it’s not money, it’s a collectible.
I don’t see the current approach of Litecoin community as bad.
I agree Litecoin needs some unique dev, and that will come with time, but more important is the fundamental use case, and that is to be a payment coin, silver to Bitcoin's gold. Bitcoin and Litecoin cannot do everything there are always trade offs, so the focus has to be on fundamentals before everything else.
Here's a roadmap: http://litecoincore.org/
Also, LTC is kind of like...let's wait and see what BTC is going to do and then quickly port it. So far, it's really worked out for us.
It very much has worked out so far. despite all the fud from maximalists calling litecoin names, its still worked out. if litecoin can continue that streak it'll be great. I believe once we start adding more unique features that aren't on Bitcoin... Litecoin will get MUCH MUCH closer in ratio to Bitcoin and people will wish they would've gotten in during the "testnet" (as they call it) phase
I saw an interview with Charlie (I think it was with the guy that got R.verr to stick out his middle finger), in which Charlie himself actually said, he might think in the future Litecoin will eventually do its own thing, not just be scaling solution. ill see if I can find that part interview now and timestamp it to that part.
That'd be cool! And I can most definitely see that. But imho, I don't see that divergence anytime soon.
https://youtu.be/8FVr7Lb938Y?t=48m7s From the sound of the video it may not be soon. I think Charlie wants to add as much Bitcoin features as possible, for as long as possible because once they start diverging, he says its a trade-off and it becomes harder to add Bitcoin features. At that point in the future, I think if we were to raise money somehow, and get a couple more developers to help out, that might be helpful. Once the space becomes clearer and this new blockchain internet is more well developed, litecoin may be ripe to see where it stands and what role it can diverge into.
One of my goals is to start fostering more Litecoin development. So if that's a while down the line, we'll be in good shape. :)
"2017 Roadmap"... It doesn't seem like it's even been updated. Clearly, they're not really communicating that well with the community in regards to development. This has been one of my biggest frustrations with Litecoin.
And your statement about Litecoin waiting on what BTC develops, well, that's actually my second frustration. It seems like Litecoin is looking to be second fiddle to Bitcoin; this does nothing for Litecoin in regards to standing out from the many great and unique cryptocurrencies available. It's market cap is what's keeping it relevant.
Sure, it's worked well so far. But for how long can Litecoin ride Bitcoin's coattail?
Litecoin was my first cryptocurrency and I still hodl... This is my tough love rant.
It is second fiddle. It is by no means supposed to usurp or replace BTC. Look at BCH and see how that's turning out for them.
There is great value to being a similar but cheaper option.