In 2017 when I entered the cryptosphere, Litecoin was up there on the HODL list. There was also Ethereum, Xrp and a host of others. This particular coin was being cheered on because of its utility. It was, as the name says, light, meaning it was more user friendly, and could be liquidated much easier than the clunky and more expensive Bitcoin. So, if Bitcoin was the gold standard of cryptos, Litecoin was silver. At least that is what many self styled experts were saying.
But Litecoin took it much further, they asserted, or should I say asserts that, “Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.”
Mind you, one was never under the impression that it was ever going to be as dynamic as Ethereum, and they were never going to be as valuable as Bitcoin. They knew that. At least I suppose so. Many people knew that. What I was expecting though was that Litecoin would have been in a better position by now, but this particular crypto seems to have plateaued.
Hopefully, this is not the case. Hopefully, they are merely going through a period of stagnation. But I guess this is for selfish purposes for I have been banking on its success. This is not only to make extra money but my aim is to do more with it than merely HODL, which I have been doing for over 5 years now. At some point one would like to liquidate some of ones cryptos and invest else where. But the HODL continues. For how long? Well, let’s hope the people steering the Litecoin ship think up ways of making it more appealing, more useful and by extension more profitable.
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