J1mtoshi

[J1mtoshi @j1mtoshi]

Here's a quick Litecoin 101 for anyone who isn't aware of the god tier of crypto that Litecoin is.

Litecoin was the second crypto ever created, originally being a fork of Bitcoins code (not a fork of the blockchain), but it has 4x faster transactions, lower fees, and 4x the total supply; with Litecoin having a capped supply of 84 million coins in comparison to Bitcoin's 21 million.

It runs on the same network model as Bitcoin, PoW. With the network being secured by miners, with miner rewards being halved every 4 years, same as Bitcoin.

This has proven to be the best way to fairly distribute digital currency, and this exact model has sent the overall value of Bitcoin to trillions.

Litecoin's PoW network is the 2nd strongest in the world by FAR, with only Bitcoin being ahead of it. Its hash rate is many x’s ahead of every other alt, having more than 10x the hash rate of than Monero (it runs on a different hashing algo, but in conversion, Litecoin has over 10x the security).

Litecoin actually hosts DOGE coin, in 2014 the DOGE network was dwindling and Litecoin offered to allow “merge mining” through their network, meaning when people mine and secure the Litecoin network, they also mine and secure DOGE at the same time, and miners are rewarded in both currencies.

Segwit, one of Bitcoins biggest upgrades, was first implemented on Litecoin; and after its success on Litecoin, Bitcoin decided to implement it too.

In 2022 Litecoin implemented MWEB, which enables completely private transactions and balances on Litecoin, making Litecoin a privacy coin. Most big wallets have started including this feature, with good wallets being Nexus wallet and Cake wallet.

Usage metrics have been constantly growing for its 14 year lifespan (which has also had 100% uptime the whole time), and Litecoin is now used MORE than Bitcoin on most crypto payment providers. The biggest one being BitPay, and Litecoin has been leading consistently for a long time (https://t.co/2YGnnW0LD3).

Being the same tech as Bitcoin, Litecoin has complete regulatory approval and is everywhere, featured on CNBC markets all the time. It’s grayscales 3rd largest crypto holding behind Bitcoin and ETH (https://t.co/PDmIT0pie8).

There has been 10 Litecoin ETF applications, some being direct Litecoin ETF’s and others being basket ETF's. Canary’s Litecoin ETF (under the ticker LTCC) has been approved and has been live for almost a week, steadily growing in volume.

Fidelity, one of the largest asset managers in the world, with $5.8 trillion in discretionary assets under management, and $15.1 trillion in assets under administration, only offers crypto investments into 4 different crypto's with Litecoin being one of them (https://t.co/Ax9zOdTtf7).

Currently there is 2 Litecoin treasury companies, Lite Strategy who currently owns 1m Litecoin and has approval to buy more, then Luxxfolio; a Canadian based Litecoin treasury.

Having 4x the total supply of Bitcoins, yet a price at 1/1000 of Bitcoins, all while having very similar adoption and usage metrics, and massive institutional (and retail ofc) interest, I can see these ratios coming a lot closer in the near future.

There will never be a more decentralized altcoin than Litecoin.

Digital Silver baby $LTC

[J1mtoshi @j1mtoshi]

@vnzabbar No it doesn’t lmao

[J1mtoshi @j1mtoshi]

@CryptoWizardd @LitecoinVM The price is at a good level to buy. But do we really need smart contracts on bad tech? Smart contracts have been out for over a decade on chains that have much faster finality, this is far from groundbreaking or useful.

[J1mtoshi @j1mtoshi]

@litecoin2142 It hasn’t been artificially suppressed, people have lost interest and sold.

[J1mtoshi @j1mtoshi]

@smileycapital Yet to interact with ai that seems sentient.

[J1mtoshi @j1mtoshi]

@Cals139 How does it go on out of sample data? E.g random years. I have tools that can make thousands of strategies, all profitable for 15 years straight, but that does not mean they’ll work in real time.

[J1mtoshi @j1mtoshi]

@TXMCtrades Actually I guess not, looking at the timeframe it just was stagnant for most of the day then decided to move in the recent hours.

[J1mtoshi @j1mtoshi]

@TXMCtrades Sheesh that’s some thin liquidity (so far).

[J1mtoshi @j1mtoshi]

@DMinimilian This inflates the represented value of movements on chain. Also, if I use segwit and generate a new address every time I want to receive LTC (which is common), then if I go to send a large amount of LTC it creates MANY tx’s because it has to send from every wallet.

[J1mtoshi @j1mtoshi]

@DMinimilian The way segwit wallets work (Ledger/Electrum etc), if I have $100k in my balance and I go to pay a $2 invoice, it will send my entire $100k balance in the transaction, sending $2 to the receiver, then sending $99998 to a freshly generated “change” wallet.

[J1mtoshi @j1mtoshi]

@AllSageMan Whatever it was, it would be over 1000x slower than dApps built on Solana, and fees would be higher. So adoption would be hard.

[J1mtoshi @j1mtoshi]

@AllSageMan Money. The tech isn’t good enough for large adoption as infrastructure.

[J1mtoshi @j1mtoshi]

@MikeTheGambler_ @KookCapitalLLC It’s not the aim of the mission.

[J1mtoshi @j1mtoshi]

@smileycapital I feel like we just chop for a long time, no real dump/no real pump for a good 6 months. Then if the world isn’t too fucked, pump.

[J1mtoshi @j1mtoshi]

@TXMCtrades Sorry you never discredited this, and you even said it’s awesome.

More than anything you’ve made me curious to look into these technologies I don’t know about.

Have a good day bud 🙏

[J1mtoshi @j1mtoshi]

@TXMCtrades Yeah I could definitely be wrong, and it would be awesome to see better alternatives.

At the same time I feel like the main take from this, should be that credit is due for the insane amount of engineering and brilliant minds it takes to make this happen.

[J1mtoshi @j1mtoshi]

@jkelley1080 @Dopierbasket213 @CollinRugg And what did you achieve today? This is incredibly impressive.

[J1mtoshi @j1mtoshi]

@blocksandcrypto @Kersidio @DonaldJTrumpJr @rookisaacman Because the rocket it staying in the moons orbit, instead of landing. During a part of this orbit it will be the furthest a human has ever been from earth.

[J1mtoshi @j1mtoshi]

@mmmatt Rip, no backups?