I used to hold LTC.
I used to believe in LTC, with it’s cheap fees, faster block times and decent community.
I even profited massively from LTC. Sick 968% profit.
However, that thesis and my expectation of LTC hitting $1,000 is no longer valid.
I sold all my LTC when Charlie Lee sold his.
Charlie Lee helped me sell the LTC top though, so I’m much richer because of him, thanks Charlie.
A crypto founder with no skin in the game? Lol, okay. Bye.
With multiple big players supporting Bitcoin Segwit and following best practices like transaction batching, fees have plummeted and the network is actually empty.
You can pretty much send Bitcoin for free now.
Huge difference to just a few months ago when it was costing $30 USD.
And whatever other shit.
And this is even before lightning network.
Bitcoin is back on the menu, at least in my books.
The massive reduction in fees also challenges Ethereum, which was becoming immensely popular due to the much lower network fees. Flippening delayed from 2018 to 2019? Possibly…
Most of all, it affects Raiblocks, now known as Nano. When BTC was expensive and slow, Raiblocks was a shining light during such dark times, offering free and instant transactions. That competitive advantage is becoming less of an issue right now, but Bitcoin will unfortunately, always have a fee. While a fraction of the world uses Bitcoin now, and even fewer use it to make actual on-chain payments, Bitcoin is still all right for now. But as adoption rises and people being to shift from speculation on off-chain exchanges to usage and transactions on-chain, this beautiful situation of low fees will not last.
Nano is still considered a great crypto in my books because instant and free really has much more special use cases that 10 minute confirmations and transactions with variable fees just cannot do.
The war of value transfer is between Bitcoin (massive hashing network security, original crypto, fiat on and off ramps) and Nano (green, instant, free).
All other value transfer coins are just irrelevant now. Sorry to break that news to you.
Will they pump and dump? You betcha.
Will I own any of them? Nope.
Good luck in crypto land, and as always, stay safe.