Litecoin is giving early warning signals for what @stan called “the greatest transfer of wealth in human history” in his article When the Levee Breaks... The still largely uninformed BTC nouveau riche are trudging unwittingly into yet another second division instrument in a desperate search for something of reliable use and lasting value.
BTC, and now ETH too, have both hit the wall so to speak. Their network congestion issues have people leaving in droves. BTC is slow to begin with, as we all know, and that only gets worse as the user rate increases like it does at times like these. With respect to Ethereum - aside from their most recent 230 million dollar bug - their users have also been looking for other alternatives as their blockchain bogs down thanks to their “CryptoKitties”, of all things. @kingscrown recently wrote about both here and here. The net result at this point in time is that money is chasing LTC.
Nevertheless, Litecoin, in my opinion, is a only stopgap for users; after all, it’s the same technology as BTC and it’s only a matter of time until it reaches saturation levels too, especially since SegWit probably won’t deliver as promised as @modprobe pointed out a few months ago: I Looked Into SegWit, and Here's What I Saw.
The Great Crypto Rotation, as I have chosen to call it, has been going on for a while now with BTC proceeds flowing into ETH, DASH, Monero, ZEC and the like. Now it’s moving further afield into LTC, but I don't think it will take too long until people realize that what they’re doing is moving from one bad apple to another. Sooner or later they’ll wake up to the fact that there are much better options like BitShares and STEEM, to name but two of my favorites. As the failures of 1st and 2nd generation crypto become more frequent, larger and better well known, people will finally get wise, and the levee will break with a massive rush into secure crypto that can handle the load like the pros they are.
Thank you for the thoughts, indeed makes sense. And I did the same as BTC prices were crazy and Ethereum is getting slow.
Most people get on cryptos through Coinbase and there are three cryptos - BTC, ETH and LTC :) Makes sense!
btw, recently did the post about top cryptoexperts to follow and you, @cryptographic are one of the featured people there ;) - 40 Best Blockchain Influencers & Cryptocurrency Experts To Follow in 2018 (On SteemIt Too) - http://bit.ly/2AdNCn0
Absolutely! With current BTC and ETH issues, the entryway to crypto right now is LTC via Coinbase (although I've been told, but haven't yet confirmed, that you can do the same at practically zero cost through GDAX - same company as Coinbase).
That's a fantastic write-up!
I'm always extremely thankful whenever I'm reminded that the more I know, the more I know what I don't know, and you've very clearly shown me that I have a lot to learn, starting with an update of my follow list! Wonderful stuff. Welcome to Steemit! Followed you and will comment and resteem your list a little later today. Oh, and a very humble thanks for including me - it's very rewarding to know that I've been of help.
40 Best Blockchain Influencers & Cryptocurrency Experts To Follow in 2018 (On SteemIt Too)
ouh yeah GDAX is definitely related yeah!
ouh thank you for kind words and being so humble & open yourself!
Yeah, First movers getting tiered! It about time to move on and transfer wealth to another group of runners(EOS, BitShares, Steem ITOA), because when mass adoption happen, old guys (BTC,ETH,LTC...) will literary freeze in time saturated, with congested blockchains flooded.
I write market analysis (check here), but I must put some more attention to the newbies.
@cryptographic you could not have written this post in a better time. 2 situations I see here. Thanks for this great follow up on the massive transfer of wealth.
People are moving their funds from ETH to BTC because they are bottlenecked and this anoys anyone. They are flowing to DASH, Monero, ZEC, and now Litecoin. It is crazy happening.
The other is people entering crypto with LTC do to the fact of coinbase and other big exchanges in other countries have LTC as a possibility and they realize its fast.
And I could not agree more with you in the fact that what @stan described the bigger transfer of wealth is going to happen, and LTC are clear signs.
And finally LTC funds, BTC and ETH will go to Steem and Bitshares, and I believe EOS too, and that will be massive. Things are moving so fast, we are almost reaching 500 billion market in crypto, this is really crazy.
Upvoted this great post.
Regards, @gold84
PS: I would really enjoy seeing your comments and feedback in some of my past posts. They are really adding to my ideas, and really help. Looking forward to your feedback, when you get a chance to.
Yep, it sure looks like the levee is getting ready to break!
Sorry about taking so long to answer. I've been literally swamped in my day job this week. Will take a look at your recent posts as soon as I get some time.
Cheers,
@cryptographic,
I was awaiting hear this and you said it! Yeah moving from one bad apple to another bad apple will not fix the problem! If they need to fix it they should have multiple choices! BTS or STEEM! Both are performing awesome! And people will realize the value of those coins soon! Anyway if someone wish to refer your blog they will understand them greatly!
Sooner or later they’ll wake up to the fact that there are much better options like Bitshares and STEEM, to name but two of my favorites.
Excellent market review friend! Thank you very much for sharing this with us! Really appreciate your effort!
Cheers~
Exactly! BTS and STEEM are 2 of the solutions!
Try to do your best to promote them :-)
Dear @cryptographic ,
BITSHARES and STEEM just need PROMOTION as the other big coins have.
So no matter if we have the best coin ever if it doesn't have a proper visibility..., LET's WORK harder in order to promote them
Promotion is happening little by little in the form of real life performance and success. There's nothing like organic growth and people realizing on their own that this is where it's at!
Agree, but I'm considering myself as an ''early adopter'' and I feel the obligation to spread the cryptoworld benefits for the sake of its success, not just at the level of the Blockchain culture but also on the 2nd and 3rd generation Blockchains coming and, for sure BTS, STEEM and some others as possibly EOS will need more support by ourself to be better known
No doubt about it. That's kind of what I was getting at. It's each and every one of us, one at a time, little by little. And that's the best kind of advertising too!
Exactly!
Steem on!
BTS on the move...up to $.22
I am glad I bought some last night at about $.16.
Looking sweet. Almost hit $.50. Sitting around $.40 right now.
Serious question: With all of the FOMO buying from the masses, how are you assessing the risk/reward of a (temporary) exit? If mass-acceptance is the endgame, high prices are a natural side effect. My gut tells me these prices should get destroyed.
Alternatively, ETH survived its hop from $9 to $400. Dipped to $1xx, sure, but there was no return to 25, 50, 75, etc.
My inner HODLer notices how I have fewer coins than I did in June because I tried timing the market. My inner skeptic remembers July and wants ammo to BTFD.
Exiting 50%+ of cold storage (vs just trading stack) now seems entirely reasonable since this is full of dumb-money and shouldn't end well. But isn't consumer adoption what we wanted...?
Both buying and selling seem too greedy.
How I agree with everything you said! No pullbacks combined with moon shots makes me very nervous too. Lots of dumb money coming into the market, and lots of really questionably overpriced crypto as a result. It's not a question of "if", but a question of "when" we'll get a major correction, and anyone with dry powder is going to be very happy when that happens. Good thinking and nice comment!
@cryptographic - Sir you are 100% correct...
'As the failures of 1st and 2nd generation crypto become more frequent'
Today I had a nice discussion with one of my good friend & we talked about the power of STEEM block chain Sir.... 3 seconds transaction time with no fees & we can remember user names or destination ID are really fair things Sir....
As you said this is the future, we should respect 1st gen crypto, they made this industry but now people needs speed, if they can't give that speed, then we need to find alternatives.... At this level STEEM at it's top Sir.... I have faith on this block chain & trying to collect every STEEM, because I think it's precious in future....
You discuss about it very well Sir.... You made a nice review about the current market trends & the future market trends too.... Very informative post for us Sir....
+W+ [UpVoted & ReSteemed]
That's it! Word of mouth advertising!
It's hard to beat STEEM's 3 second transaction time . . . in fact, it's unbeatable!
Loved this post and all of the comments. Been following you for a while and have been in Btc, Eth and Ltc for a while. Now for some Bitshares and Steem.
Thanks for the comment to let me know, and way to go with your move into BTS and STEEM!
I agree to a certain extend that the current big players don't seem to be able to handle what it needs to be a currency. But still we are just at the beginning and who knows maybe there'll be a huge invention to make Bitcoin rock everything easily.
Anyways I'd love to see BTS and Steem to succeed as they are my favorites as well :)
Maybe . . .
But that's a very big risk to take when you've already got BTS and STEEM doing it today.
True words! Steem & BTS are awesome projects and I believe in a great future for both of them, especially as soon as Bitshares got the DEX setup with a proper and easy to handle UI :)
I just sold my litecoin though i did not had much but before it was that much high missed the train but for the steem that is for I am sitting still and waiting ;)
Hope we get the best as we want in the long run !It is much more safer and have a n easier way tof transaction that is one of the great thing about it !
I am loving it (all the rise in BTC & the altcoins)
I can understand how you feel. It's great to see tangible rewards for our hard work. And then when you've got a great place to put them, the feeling's even better!
Excellent point about the rotation. I agree we will see that at some point. It isnt happening yet since ETH is also on fire like LTC.
LTC is a more viable option than BTC for what you are suggesting. It is a much faster network (less expensive also) although not free. I sent some transactions thorough last night to buy some BTS and STEEM, and it took no time, even with all the traffic it is recently generating (up 50 % from the weekend).
Wall Street money is going to continue into BTC and the other names. They dont care about the viability to execute...they only care about the continued increase in pricing and the liquidity to move in and out. At this point, BTC is probably the only one big enough to handle the numbers the Street likes to play in.
I have been slicing off pieces of my BTC and ETH and rolling it into the ones you mentioned.
I do agree with the greatest transfer of wealth, but it isnt from one coin to another. It is from Wall Street hedge fund representing fat cats to early adopters of tokens. All tokens with any legitimacy at all will rise in 2018 in my opinion.
Good job my friend. Like a rolling stone! I'm sure you won't be disappointed.
What you say about legitimacy is also well taken, but I'm not so sure that the outcome has already been decided. The key is to identify which will continue to have it, and which will lose it. And I do think that Wall Street does care about viability; if they didn't, they wouldn't be where there are.
Thank you for the interesting news. It seems to me that the price limit has not yet been reached. Keep writing such excellent articles. Good luck to you and good.
It’s hard to say but at least for now the faster and cheapest cryptocurrencies are the ones with larger blocks, anyways...is just a temporary advantage.
Litecoin and Bitcoin are still in an early phase of mass adoption, once scaling is completed, larger blocks will become a distant memory.
Great information @cryptographic.Thanks for sharing. i like your post and following.
Don't rule out BTC and ETH even though LTC has the transaction speed advantage. The level of competitiveness will continue to improve for BTC and ETH. When we look back in 5 to 10 years from today, we may just be right after all.
i didn't bought that and now its going so much high
Yeah, I also agree that first movers are almost done their job. I write analysis on Bitcoin price (Read here).
Altcoins try to find their best ground and establish themselves as good as can manage.
But real beasts are third generation ones: ITOA, BitShares, Steem, EOS. They alredy are most active blockchains.
thanks for information on litecoin.
if litecoin be in the moon then how can we get it???lol
pheww finally it started its journey and i don't it will go down from now on interesting phase ahead litecoin is really fast
lucky for those who at one time made a smart investment and invested money
for now it's going to moon, but when investors understood they jumped on a wrong rocket it will drop in the same way. outstanding analysis & review about current ltc market trend. nice post @cryptographic
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