This has been an exciting year for Litecoin!
Not only has the creator of Litecoin, Charlie Lee, left Coinbase to work full time on improving the long standing cryptocurrency; but the price per coin has seen a near 70% increase in the last month. (Early June to July 8th, 2017)
The price per coin has been on the steady upwards trend and staying fairly stable with mild fluctuations each day, with the peak point of LTC costing around $53-56 per coin and now stabilizing at around $50. It seems to be quite obvious that this coin is garnering more attention each day, part of that because it has the proven staying power and even throughout the years has kept the number four spot on the list of largest crypto-currencies. There is one thing that every LTC holder is interested in though... THE BIG MIT ANNOUNCEMENT
(http://litecoin.mit.edu/)
A lot of us are wondering if there is another pump and dump scheme amidst, even Charlie Lee has gone to Twitter to warn that this could possibly be a hoax; However there is still a glimmer of hope. The website teases a technology release slated for August 1st, 2017 by a MIT (Massachusetts Institute of Technology) student group project that is non-commercial. Mysteriously with just an email for inquires, and what seems to be a Litecoin address, with not a single notation to "donate" or "give here".
One thing that instantly came to mind upon discovering this page, was that MIT created Multi Miner. This is an application for mining and monitoring various different coins. Could this new technology be a more developed version of of this software, geared towards Litecoin mining? Possibly, the average transaction time for LTC is designed to be much faster then BTC, so what if the technology development is to recruit more into the mining business of Litecoin. Driving up it's popularity and eventually its value. Or is it more development of Lightning Technology?? Once again this would be another attempt at making LTC the more desired coin due to its transaction and processing speed!
At the end of the day we will just have to wait for the countdown clock to reach zero and hopefully see that this was not a hoax at all, but some clever student development to help the advancement of LTC!
Do you think within the next year Litecoin will truly become the silver to Bitcoins gold standard, or do you believe it has the potential to reach even farther with further development, lets discuss theories and speculation down below!
Also this is my first ever blog/ post so if it seems to be poorly crafted, I want everyone to realize I AM COMPLETELY NEW TO THIS!! Thank you for reading, I hope you all have a splendid day.
Until we hang out again lets all remember to LOVE GAME and EVOLVE TOGETHER!
-Cegan Family
I cant see a case where MIT student are looking to pump and dump LTC. How could anyone want to loose credibility like that? All of us Anarcho-capitalists know that the market will not tolerate anything more than one instance of pump and dump from anyone and im sure MIT students are well aware that a pump and dump scheme would destroy any hopes of hte community trusting them moving forward. I think LTC is a great hedge against BTC and ETH. ETH is my favorite crypto atm followed by BTC and then LTC. LTC has the most short term growth potential. ETH has the opportunity to be valued far beyond BTC. Some analysts are looking at 4K for BTC some are looking at 55K for BTC some even 1mil for BTC......in any event, ETH will not be far behind BTC as time goes by.
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I agree about MIT students, I think they would really have no need to do a pump and dump, just researching the subject and various people and Reddit forums seem to think that is what's happening. I forgot to mention in the article but the announcement happens to fall on the same day that there is a potential for a BTC chain split. Who knows what could happen. I believe LTC could go up quite a bit more since its basically bitcoin but way faster, and now that its being developed and improved its chances of success are higher. This of course, doesn't mean that we wont see a drop before it rises again.
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Solid post. Interesting to see I'm not the only one that is thinking about this. No matter how populair a coin is. People should always do a proper background check. It surprises me how many coins are out there that don't have their basics right. I found this great website: https://www.coincheckup.com They seem to give this complete indepth analysis of all cryptocoins. On: https://www.coincheckup.com/coins/Litecoin#analysis To see the: Litecoin Investment analysis.
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