It simple guys, no one wants to use Bitcoin to trade in and out of trades, because it's so fucking expensive fee wise, so everyone just uses Litecoin instead... mystery solved!
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It simple guys, no one wants to use Bitcoin to trade in and out of trades, because it's so fucking expensive fee wise, so everyone just uses Litecoin instead... mystery solved!
you are correct tolkatore, that would solve it, just one problem - a lot of the exchanges have the BTC/alt pair but not the LTC/alt pair, saw this complaint today from another trader I follow;
@rwilday
When are alt exchanges going to carry #Litecoin or #ripplecoin pairs. Who slings BTC from wallet to wallet at this speed/fees? @BittrexExchange @binance_2017
Maybe it is just slow adoption or maybe there is some conspiracy theory behind it, but once that catches on I agree it would be better for everyone and LTC could get back in the game
It would be very nice if they paired them indeed, but what people do is buy Litecoin on Coinbase, send it to their preferred exchange, switch it to Bitcoin, then buy their coin or token, which is a much cheaper and faster pathway in the end.
I would like to see it too, but if LTC pairs become standard on exchanges I think BTC will be in trouble. Some forks/new technology (like lightning network) are really needed for BTC to stay n°1. And if BTC is in trouble, all the ecosystem will suffer from it until LTC/ETH or other big alt proves that they can handle big market cap and be used as currency/pairs/hodling (lot of people just hodl BTC, if it falls, they will lose confidence in crypto as a whole).
I'm a true fan of LTC anyway and will hodl/buy some wathever what.
LTC will very likely be the first to implement lightning network. (which is overrated imo)
This will mean LTC will pump first.
the ecosystem will suffer for a brief moment. But we will quickly adapt to the next best thing. You don't see people walk up to old blockbuster buildings wishing they could rent a movie inside a blue box anymore do you? haha
People could be buying LTC with BTC and sending the LTC to another exchange to to sell that LTC for BTC to buy alts.
This is exactly my path when I use Coinbase to move money to Bittrex. LTC has become my carrier of choice at the moment.
oh crap, i been moving Ether. So litecoin is cheaper?
I haven't compared fees, but I do know that 9 out of 10 times Litecoin is much faster. I've never had a LTC transfer take over 20 minutes. On the other hand, I've had ETH transfers take over 2 hours on several occasions.