Litecoin: Useless crypto? Should I convert them to Hive?
I currently own some Litecoin and initially believed it was a good investment to hold onto. I had hoped that in times of conflict, I could use this decentralized currency for transactions without government interference. I am thinking it will come in handly if war ever breaks out!
I was initially drawn to Litecoin due to its low transaction fees and thus ease of self-custodial storage.
However, upon reconsideration, I've realized that because of the low fees, people primarily use it for transactions rather than as a store of value. So the price is probably not going to rise dramatically no matter what!
Consequently, I'm considering reallocating my LTC value to other cryptocurrencies that serve as better stores of value, such as Hive, of course.
When comparing cryptocurrencies, I prioritize those that are easily self-stored and have low transaction fees. In this case, I believe Hive may be more advantageous than Litecoin, if additionally, I am considering the potential for growth in each currency. If Litecoin's value increases fourfold, it would reach its all-time high, whereas Hive would only be slightly more than half of its all-time high if its value quadrupled.
Taking these factors into account, it appears that there may be a greater chance of quadrupling my investment with Hive rather than Litecoin. However, Litecoin's upcoming halving in August 2023 could potentially propel it to new heights. Tough decisions indeed if I consider this factor.
Now... the fact is... I ain't got thousands worth of Litecoin, so that could make my decision way easier. Converting to Hive and using them to earn curation rewards is better than having it lying around in the cold wallet.
My preference is going toward getting more Hive...
Thanks for bearing with me as I think aloud. This is what my activity in Leo Finance is for! :)
Let me know if you have some reactions and thoughts about Litecoin, and my thinking.
Cheers!
P/S: This is not financial advice, and please do your own due diligence before investing.
If you read this far... and if you are a like-minded Hiver who is on the path to learning more about Hive and crypto investing, and if you like to be tagged when I write such posts, I welcome you to leave a comment below and let me know. We can form an alliance to support each other's growth.
You might be interested in this post, @thatkidsblack, @graciousvic, @peniel2010, @deflacion, @jacoalberts, @limonta, @young-kedar, @svanbo, @sumotori, @zakludick, @poplar-22 and @hankanon!
Posted Using LeoFinance Beta
Isn't LTC pretty much the same as BTC? Limited supply and broadly just follows its price? I have some pooled with Rune, you can get a return that way.
Thanks for sharing the idea! I will look at it. !PIZZA
$PIZZA slices delivered:
cryptothesis tipped technicalside
cryptothesis tipped stayoutoftherz
cryptothesis tipped borsengelaber
svanbo tipped yecier
svanbo tipped stayoutoftherz
cryptothesis tipped ertytux
@svanbo(2/5) tipped @cryptothesis (x2)
cryptothesis tipped neopch
cryptothesis tipped revisesociology
cryptothesis tipped svanbo (x2)
Since I do not know what your crypto portfolio looks like…I am also taking care of a certain diversification and wouldn’t put too much into one coin. May it be Hive or others.
Cheers, mate. Appreciate the reminder to diversify. !PIZZA
More people here for diversification here, I see @cryptothesis !LUV
@borsengelaber, @svanbo(3/10) sent you LUV. | tools | discord | community |
HiveWiki | 
NFT | <>< daily
https://twitter.com/1331330355513745413/status/1651252282481078274
The rewards earned on this comment will go directly to the people( @taskmaster4450le ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
My personal opinion, I'd keep onto that litecoin... Correct me if I'm wrong but litecoin was one of the first altcoins there ever was. And putting every last bit into hive is probably not the smartest idea... What IF it fails 😂💡
And besidea your getting more and more hive by the day. But then again if I had a hundred or two hundred on Ltc I would have most likely pushed it into hive aswell 😂
thanks for pointing that "what if it fails" bit.
I have to think about this move carefully. !PIZZA
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.
By converting into Hive you earn curation rewards, inflation, gain influence, profit in many ways. You become the owner of Hive. LTC brings you none of this.
That’s what I thought too. However I think the ‘what if LTC pumps beyond imagination’ is lingering on my mind. !PIZZA
Why should it?
Then keep some 😃
What do you mean with "owner"?
Why would that be different to owning Litecoin? Just curious !PIZZA
With owning I mean that you can influence and partly shape the future. Litecoin you can hold physically, but you will never ever can influence anything there, regardless how much you "own".
I see. Thanks for expanding! !HUG
I sent 1.0 HUG on behalf of @svanbo.
(2/3)
LTC is an excellent investment, the LTC/HIVE pair has been very profitable for me in #hive-engine, keep in mind that there are 99 days left for the halving.
Thanks for sharing! I should have a check in HE! !PIZZA
I am watching the halving closely.
I guess that having BTC and LTC is like digtal gold and silver. No smart-contracts made them not-programmable. Hive is the same but you can earn it through posts and keep staked as Hive Power and use rest. Depends on your own preferences but I do keep BTC and LTC on my cold wallets and don't touch them.
Posted Using LeoFinance Beta
Thanks! That’s a strategy. I adopt that too. Just that now I question myself LOL !PIZZA
I am glad to see that others have views on this as well. And it sets me thinking more.
Sure. Everyone got their own strategy :)
Its been all over the place for a few years due to lack of adequate leadership. I wouldn't cross it off just yet though if someone comes in it could change rapidly.
Posted Using LeoFinance Beta
As it’s 4 x the quantity of BTC, even if it’s 1/10 of BTC’s popularity, it should be $750 a piece.
30k / 4 x 0.1
I don't think there is anything wrong with having LTC and it still has it's uses. I think it's going to be around for a while and it's less risky compared to Hive. I don't believe Hive will go away but LTC has been around for a while.
Posted Using LeoFinance Beta
I'm with you on this one
Honestly, litecoin looks deaths from the innovation look, is incredible that still be a top 20 currency. If was the case, I will drop LTC to 1/3 Bitcoin, 1/3 Hive and 1/3 HBD in savings.
I agree. Other than it’s strong liquidity .. not much of a draw.
I would rather go 1/3 LTC 1/3 Hive and 1/3 HBD savings considering you've got BTC already, @cryptothesis !PIZZA
What do you mean with "people use it rather for transactions"? How do they do that? !LUV
@cryptothesis, @svanbo(2/10) sent you LUV. | tools | discord | community |
HiveWiki | 
NFT | <>< daily
They send litecoin whenever they need to transfer value because of low transaction fees. !PIZZA
I see, but where or who "they" send this LTC to? I don't understand the mechanism.... !LUV
Different people send to each other, just like using money. LTC is mostly used for this purpose I believe. Not as a store of value because it’s faster than BTC. !PIZZA
Faster like in seeing it faster in your wallet? !PIZZA
Bearing the halving in mind, there is still hope for Litecoin. Even when we're die hard Hive fans, we could consider as well it might be better not to put all eggs in one basket... No financial advise of course !HUG !PIZZA
I sent 1.0 HUG on behalf of @svanbo.
(2/3)