The founder of Litecoin, Charlie Lee, wants you to know that he has nothing to do with its upcoming hard fork. Worse, Mr. Lee claims Litecoin Cash is a complete scam. The unauthorized Litecoin fork, called “Litecoin Cash” or LCC, is scheduled to occur on or around February 19th, 2018 at 02:00 UTC at block number 1371111. I use the word “unauthorized” because Mr. Lee, a former Google and Coinbase employee, took some steps to protect his hard work when he created Litecoin. So, to me, this raises a question……Read More
Over $200 – Why Did Litecoin Spike Today?
The price of Litecoin leapt 50% today to over $200 per token. As of this post, Litecoin is at $216.91. The current price of Litecoin can be found on CoinMarketCap. Wait… But Why Did Litecoin Spike Today? Reason 1: Bitcoin Futures Are Fueling Speculation in Litecoin. Litecoin may have spiked today because Bitcoin did not crater today as expected. Indeed, Bitcoin’s price continued to rise in spite of the launch of Bitcoin futures markets which had raised significant uncertainty among speculators. The addition of futures markets was expected to fuel volatility…Read More
What is Litecoin and Should I Buy It?
Litecoin (ticker: LTC) is a decentralized peer-to-peer cryptocurrency that was founded by Charles “Charlie” Lee (aka “@satoshilite” on Twitter). Mr. Lee is a former employee of both Google and Coinbase. What is the History of Litecoin? Litecoin was released on 10/7/2011 on Github as an open source software project released under the MIT/X11 license. The name “Litecoin” is a trademarked term in the U.S. and Singapore. Litecoin was an early “fork” of the original Bitcoin core. However, Litecoin is technically different than Bitcoin in a few ways. Specifically, Litecoin was created to…Read More
Coinbase Should Be Worth More Than Bitcoin
It occurred to me this morning that I trust Coinbase more than I trust Bitcoin itself. As THE broker, for all intents and purposes, of any of my cryptocurrency transactions, and the keeper of my wallet, Coinbase is the gatekeeper to anything crypto for me… (at least in terms of Bitcoin, Ethereum and Litecoin). If you want to trade Cardano, you’ll need to look elsewhere. How Valuable Is Coinbase? It was recently revealed that Coinbase earned over $1 billion in 2017. This is amazing for a company that is only…Read More
Scary, Volatile, Bitcoin…
You know that scary music recording that you hear every year playing at someone’s house on Halloween…? That was the music that was playing in my head this morning as Bitcoin launched to almost $12,000 before cratering to the mid $8K range and then heading back up north of $10K. Watching the price of Bitcoin this morning made me think of those pictures of Wall Street traders with insane looks on their faces while they observed the ticker symbols. Bitcoin was up 14% in what looked like a few minutes…Read More
Bitcoin Hit $10,000 Bitcoin hit $10,000 on Coinbase about 30 minutes ago. Bitcoin and Ethereum are becoming cryptocurrency brands. The more new stories that refer to them, and the more companies that trade them, the greater the mystique. I’ve noticed that Coinbase’s focus on Bitcoin, Ethereum and Litecoin seems to help those cryptocurrencies. People who use Coinbase, which apparently is a lot, have no other options but to buy those currencies on the Coinbase exchange. Coinbase is probably the most well known cryptocurrency exchange, and it doesn’t offer trading of…Read More
Cryptocurrencies and Power Laws
There are dozens, maybe hundreds or thousands of cryptocurrencies out there. However, there are only a handful of cryptocurrencies that anyone who has some knowledge of cryptocurrencies has ever heard of: Bitcoin (BTC) Ethereum (ETH) Litecoin (LTC) Bitcoin Cash Ripple It’s likely to stay this way forever because of something called a power law.. Power laws work in a “winner take all” sort of way, rewarding the winner in a kingdom, phylum, class, order, family, genus, species of whatever with the vast majority of the rewards… Cryptocurrencies are no different.…Read More