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/biz/ - Business & Finance

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10454044 No.10454044 [Reply] [Original]

Why does everybody hate litecoin so much?

>> No.10454055

Cause it is the original chink scam

>> No.10454065

>>10454044
charlie lee is a chink scam nigger and there's nothing litecoin does in it's utterly simplistic sense that literally any other coin already doesn't do

>> No.10454079

It gave birth to DOGE, I don't hate it

>> No.10454083

>>10454044
>scrypt is the real sha256

>> No.10454118

>>10454044
Who hates the overpriced bitcoin test network. I mean at these prices you might as well sell LTC for .01 BTC when litecoin go sub $50 and btc over 100k might be worth picking some up.

>> No.10454117

It's a lame coin for normies

>> No.10454271

teekla likes it OP

>> No.10454299

>>10454044
dinosaur tech copy paste insider trading pump and dump chink scamcoin vaporware testnet

only reason it ever existed was so goybase could pnd normies

market sell your bags immediately

>> No.10454350

>>10454044
Because that fat chink dumped at the ath and fucked his community over. He did the same with Nano.

>> No.10454982

>>10454044
>Why does everybody hate litecoin so much?
Did nothing with early mover advantage
Other coins have better privacy
Other coins have better scalability
Got thrown off a cliff by its father

Owning Litecoin is like owning Bitcoin cash in that there is no good reason to do so, other than the chart looks like its bottoming out just like most other shitcoins, but at least some of those other shitcoins might actually find a niche use case.

>> No.10455172
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10455172

These brainlets dissing LTC don't realize that LTC will be the first alt to integrate with BTC through atomic swaps and how huge of a game changer that will be.

>> No.10455214

>>10455172
Shhhhh I am still accumulating. Most of the people here are brainlets and don't actually do any research.

>> No.10455232

>>10454044
they don't have racist asian marketing directors

>> No.10455233

>>10455172
Also the ratio is going to slingshot at some point after Bitcoin settles down. Anyone not buying LTC now doesn't like free money.

>> No.10455253

>>10455233
No anyone buying now just doesn't support unethical insider trader founded coins

>> No.10455273

>>10454044

It had its time. It was the first altcoin. A pioneer.

It's done now.

>> No.10455284

>>10454055
fpbp

>> No.10455318

>>10454044
There's no reason for it to exist

>> No.10455413
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10455413

Go buy some LINK you fucking single-cell brain havin' mother fuckers

>> No.10455432

>>10454044
It is a faster bitcoin and that is all. It means that BTC maximalists hate it for being better than it as a currency and BCH maximalists hate it because they have to dance around the fact that it is also better than BCH and ignore it's existence.

Also Charlie did nothing wrong and told literally everyone what he was doing before he did it.

>> No.10455442

>>10454044
What problem does Litecoin solve? What niche does it fill? What aspect of it means that is solves this problem or fills this niche better than its competitors?

Bitcoin is powerful because it gained collective trust by investors as the primary store of value cryptoasset. It was helped in this regard by first mover advantage, but has remained this way specifically because it has shown itself to be resistant to reactionary governance which would have it altered from its original form. It is stable in its utility and trusted enough for people to invest millions. Its code is both transparent and rarely changed in a major way. You know what you are getting and you know what the coin will look like in 10 years.

Litecoin does not have the collective trust of the investor base to do what Bitcoin does, which is to provide this store of value. None of its features such as Scrypt mining and faster block times actually do better than what Bitcoin does. Faster block times do not make it any more trusted by the investor base since they couldn't give a shit. When you're playing with $50 million in Bitcoin wealth, you could not give half a shit about a fee of $100 to move your money. This is how you protect your wealth from inflation, not how you buy a cup of coffee.

Litecoin fundamentally does not show itself to be a worthy store of value. And there will only be one main-chain* store of value that people coalesce around, since everyone only wants what other people want. So why does litecoin exist? It can't transact faster than BCH, and it's not trusted enough to store value. So it's fucking meaningless. A collector's coin.

>> No.10455492

>>10455442
* Note that assets within the same chain (ERC20 tokens all on Ethereum, for example) are easy to atomic swap, causing some relative friction between transacting these tokens into Bitcoin. For this reason, it may be possible to sustain a somewhat highly valued Store of Value token secondary to BTC as long as the secondary blockchain it utilizes continues to contain equity-like wealth such as in tokens. The first prominent example of this that we have is 0xBitcoin, which provides a well-positioned future claim to Store of Value status on Ethereum once people decide that Ether is too inflationary, centralized through ICO, and too unfairly distributed (once Ethereum goes Proof of Stake). Since it is cheaper, faster, and safer on a decentralized exchange to turn your tokens (eg BAT, GNT, and ZRX) into 0xBitcoin than it would be to turn them into Bitcoin, there will likely be a demand for an inter-Ethereum currency that works easily with atomic swaps.

>> No.10456260

Didn't the founder literally dump his bags and start shilling Nano? Why would you hold on to this if even the founder moved on to newer tech?

>> No.10456297

Bullshit coins for stupid faggots:
1. Ripple
2. EOS
3. Litecoin

>> No.10456309

>>10456260
Lee recognized the bubble and made up a fake and gay story about conflict of interest so he could dump his scamcoin on moonshits who post on /biz/