2017 was all about Bitcoin. This past year was so seminal for the world's most popular cryptocurrency that we don't even know where to begin – it broke all the value records, it passed the $17,000 mark – several times, it even yielded another “sub-division”, the alternate, Bitcoin Cash. The gambling industry took to adopting both Bitcoin and Bitcoin Cash in droves, making them the currencies that made the biggest breakthrough in the iGaming industry this year.
Even with such momentous events happening in a short period of 12 months – it could be easily obscured and pushed into the shadows in 2018. By what, you ask? Its younger sibling – Litecoin.
Currently the world's fourth largest cryptocurrency has numerous advantages that could see it make a massive breakthrough in the nearest future. It's quick (transactions with Litecoin are four times faster than with Bitcoin – it takes 10 minutes for a BTC transaction, and with Litecoin, it takes 2.5), lightweight (hence the name) and it has a massive amount of coins that can be mined – 84 million, compared to Bitcoin's 21 million!
It was created in late 2011 by Charlie Lee, when it was forked off Bitcoin. Lee, a former Google engineer, launched it soon after he got involved with the sister cryptocurrency – but his initial intention was not to create an alternative currency: “It was an excuse to kind of learn the Bitcoin code. I decided that I can actually create an altcoin that’s better than what’s out there. and lastly it was fun to play around with what’s out there.”
Speaking at Coinbase talk, Lee continues: “The vision is always I wanted Litecoin to complement bitcoin—not compete. Bitcoin can be used for like moving millions of dollars between banks, buying houses, buying cars. It’s really secure… Litecoin can be used for cheaper things.”
The currency’s current market value is $18 billion. The price of one unit has surpassed the $320 mark on Tuesday and here's the especially juicy nugget of info: since 2017's beginning, its value has risen 7,291% compared to Bitcoin's 1,731%!
It may very well be that BTC’s initial surge made cryptocurrencies all the rage and now all of them will ride the tidal wave of the public's rising interest in them – more crucially, investors' as well. Also, its unprecedented rise is leaving some people concerned, which is why they may already be looking at alternatives. But in all likelihood, it will be the synergy of these facts that may propel Litecoin to greatness as early as next year.
Source:
“Litecoin Beats Bitcoin's Price in 2018. But What Is It?“, Shen Lucinda, fortune.com, December 12, 2017.
Gambinobit
8 years ago
Hero Member
I have always appreciated the concept of Litecoin and always saw it to Bitcoins to silver in comparison but lately find myself using this coin more frequently at my favorite crypto casinos and dice sites that accept the coin as the bitcoin mining fees have made transacting incredibly painful and frustrating not only with...
I have always appreciated the concept of Litecoin and always saw it to Bitcoins to silver in comparison but lately find myself using this coin more frequently at my favorite crypto casinos and dice sites that accept the coin as the bitcoin mining fees have made transacting incredibly painful and frustrating not only with the high fee to send the payment out but the long waiting times for it to confirm on block-chain sometimes as long as 5 days with the recommended fee attached to it, this is not the case for Litecoin with transactions getting verified within the hour and reflecting on the block-chain almost instantly , I agree that Litecoins future really does show promise
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sharpe
8 years ago
Super Hero
Yeah obviously Litecoin has a really great potential from all the numbers that've been mentioned from the author there, maybe few of us should start thinking mining it as most casinos will just respond to the players demand and implement this cryptocurrency if it becomes popular enough. All the circumstances for that to...
Yeah obviously Litecoin has a really great potential from all the numbers that've been mentioned from the author there, maybe few of us should start thinking mining it as most casinos will just respond to the players demand and implement this cryptocurrency if it becomes popular enough. All the circumstances for that to happen I think.
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mafalda
8 years ago
Sr. Newbie
Thanks for sharing this guys! I agree, all we can do is to wait and see how it goes. :)
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Alex and R
8 years ago
Sr. Member
According to experts like Bill Miller, this might be one of the possible scenarios for 2018. However, Bitcoin is getting really close to entering Wall Street, which might put a huge shadow on other cryptocurrencies and altcoins. I guess we will have to wait and see how it all unwraps.
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Andreas_V
8 years ago
Full Member
You're welcome, Angel and Mil E Na! LCB will be monitoring the rise of Litecoin closely in the next year, as it gathers momentum and importance in gambling industry.
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Mil E Na
8 years ago
Full Member
Hi Angel, there are some online casinos that accept Litecoin and we have listed them here: https://lcb.org/banking/litecoin Thanks for the article, Andrej :)
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2Late4Me
8 years ago
Hero Member
Thank you for sharing this article on Litecoin Cryptocurrency breakthrough. It seems as though Litecoin among a few other Cryptocurrency Coins are being predicted and documented future breakthrough Bitcoin comparisons. I'm constantly watching the marketed, but confused as to moving my coins around. So far, I am not familiar...
Thank you for sharing this article on Litecoin Cryptocurrency breakthrough. It seems as though Litecoin among a few other Cryptocurrency Coins are being predicted and documented future breakthrough Bitcoin comparisons. I'm constantly watching the marketed, but confused as to moving my coins around. So far, I am not familiar with any gaming casino sites that accept Litecoin.
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