Will Litecoin perform well in 2020?

However, an altcoin that stands out in this journey of superiority is Litecoin. … The Litecoin Foundation also partnered with Cred a few weeks ago .

Will Litecoin perform well in 2020?

Altcoins started strong this year. The cryptocurrency market itself has made a very good introduction to 2020, with major developments expected. However, this does not eliminate the fact that relatively smaller cryptocurrencies on the market are fighting to take top place. Many altcoins, including Tron, Ethereum, Stellar Lumens, Cardano, XRP, all have a strong year regardless of the loss in the past 48 hours.

However, an altcoin that stands out in this journey of superiority is Litecoin. The digital currency was transferred by many experts to break the $ 100 barrier in the first five months of the year in 2019. After the price doubled in August 2019, it lost almost 60 percent of its cryptocurrency value.

LTC started the year at $ 41.12 and progressed gradually towards its current price of $ 70. Litecoin, like other altcoins, has seen a price drop over the past 48 hours, which has lost about 8.84 percent. The cryptocurrency started floating around the $ 75 level and reached $ 80.51 within 3 hours before falling to its current price. According to experts, this unbalanced price movement in the past few days does not show a solid bull run predicted to take on Litecoin, even if the crypto market is on alert.

Accepting Litecoin

Litecoin has largely taken over tourism-related space and is now one of the digital currencies widely accepted by many travel and accommodation service providers. This development highlights the potential of Litecoin as a payment method and further strengthens its basic design that facilitates payments globally. Litecoin’s acceptance rate is also high. This could potentially be the reason behind the bullish trend projected for digital coins.

The Litecoin Foundation also partnered with Cred a few weeks ago . Cred is a global cryptocurrency borrowing and lending company. The company will now allow LTC holders to lend their digital money very profitably, thereby increasing the number of LTC holdings and investors.

It may be too early to draw conclusions from this wildly volatile market, but with Litecoin’s (LTC) current performance and a few enhancements to support it, it seems to be finally able to bring out the performance investors have always wanted.

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Crypto’s Favorite Presidential Candidate Andrew Yang Ends White House Bid

While Bitcoin, crypto, and blockchain are all about decentralizing power, many … making a reference to blockchain and distributed ledger technology.

While Bitcoin, crypto, and blockchain are all about decentralizing power, many in this budding industry have over the past few months found themselves uncharacteristically excited about a certain presidential candidate: Andrew Yang, a businessman and job creator who has worked with individuals in Silicon Valley before.

Although few knew of Yang before he announced his bid for the White House, he quickly grew a large following online, especially in the crypto community, due to his stances on how technology will change the world’s economies and how governments could mitigate the risk that comes with these changes.

Unfortunately, after an unfortunate showing in the New Hampshire Democratic Primary, Yang revealed that he would be ending his presidential bid.

In his last rally (for the time being), Yang said that per the numbers his campaign was receiving from the ballots, it was clear that he would not win the presidency, no matter what he did:

While there is great work left to be done, you know I am the math guy, and it is clear tonight from the numbers that we are not going to win this race.

As Yang polled as high as being the fourth most favored candidate just weeks ago, this move to drop out of the race shocked many, though the businessman asserted that he does not want to continue to take donations and support when he knows he is unlikely to make it far.

Crypto Community Mourns Loss of Yang Candidacy

The crypto community was quick to mourn the loss of this candidate, who was the only one in the race who was talking about Bitcoin, crypto assets, and the blockchain revolution, especially in regards to how these technologies could positively affect America moving forward.

Prominent industry marketer and commentator Nathaniel Whittemore thanked Yang for his run, specifically citing the candidate’s propensity to talk about automation, Yang’s understanding of the internet, his being genuine, and Yang’s decision to engage “seriously with new economic paradigms like Bitcoin.”

Others in this community echoed Whittemore’s disappointment that the crypto-friendly candidate has ended his bid.

So @AndrewYang is ending his presidential run.

Let’s thank him for being the only candidate who:

+discussed automation

+engaged seriously with new economic paradigms like #Bitcoin

+understood the internet

+seemed like an actual person most of the time. #YangGang for life. pic.twitter.com/tdRIptLgko

— Nathaniel Whittemore (@nlw) February 12, 2020

This is for good reasons: as aforementioned, Yang is a fan of Bitcoin. He, in a Bloomberg interview last month, said that innovators in this space are being hampered due to poor regulation:

“It’s bad for innovators who want to invest in this space. So that would be my priority: clear and transparent rules so everyone knows where they can head in the future and so we can maintain competitiveness [in crypto].”

That’s wasn’t all he had to say on cryptocurrency. In the same Bloomberg interview, Yang said that the aforementioned uniform regulation is needed due to the “high potential” of cryptocurrency and the “technology underlying this,” evidently making a reference to blockchain and distributed ledger technology.

He went as far as to say that regulation will not “impede” cryptocurrency, effectively stating that Bitcoin is impossible to stop.

Photo by René DeAnda on Unsplash

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Bitcoin Price Hits $10320 as Fed Chairman Confirms Crypto Is a Threat to US Dollar

“A ledger where you know everybody’s payments is not something that would … He also stressed the urgency of making quick progress on blockchain …

Bitcoin price and the overall crypto market reacted positively after Fed Chairman Jerome Powell recently stressed on the importance of private crypto-based transactions. He said that the Fed is working on a number of projects for digital currencies.

Bitcoin price surged over 5% on Tuesday, February 11, pushing it to a five-month high above $10,300 levels. With this move, BTC has surged nearly 50% since the beginning of 2020. At press time, BTC is trading 5.6% up for a price of $10, 304 with a market cap of $187 billion.

This latest price surge comes after the Federal Reserve chairman Jerome Powell expressed his interest in digital currencies. Congressman Bill Foster raised concerns about China’s aggressive push to the use of digital currencies. Responding to this, Powell said that the Fed has several projects underway.

This was enough to usher a fresh optimism in the crypto market. Apart from Bitcoin, a majority of the top-ten cryptocurrencies are showing gains between 5-10%. The overall cryptocurrency market cap added $20 billion soon after Powell’s comments, taking it to above $300 billion.

Powell Stresses Need for Private Crypto Transactions

Speaking on the issue of the American economy and its privacy policy, Jerome Powell also stressed the need for private crypto transactions. “A ledger where you know everybody’s payments is not something that would be particularly attractive in the context of the U.S.,” he said.

BREAKING: Fed Chairman Jerome Powell just came out in favor of private transactions for digital currencies.

He specifically said “A ledger where you know everybody’s payments is not something that would be particularly attractive in the context of the US.”

Game on 🙏🏽

— Pomp 🌪 (@APompliano) February 11, 2020

The Feb Chairman also assured that the U.S. is taking sufficient measures to keep with the pace of China’s development. Powell said that the Fed is currently investing a larger amount in digital currency developments. The cryptocurrency market took Powell’s comments is positive as the market surged soon after.

Besides, Powell also acknowledged that Facebook‘s entry in the crypto space with its native Libra cryptocurrency has been a game-changer. Facebook announced its Libra cryptocurrency in June 2019 but is yet to get regulatory approval for the same.

However, Powell admits that his agency understands the importance of digital currencies. And now it is working on further progress in this direction. He also stressed the urgency of making quick progress on blockchain development.

But Powell remains a bit skeptical about the implementation of the Digital Dollar due to privacy concerns. He added:

“The idea of having a ledger where you record everyone’s payments isn’t particularly attractive in the U.S.; it’s not a problem in China”.

It will be interesting to see how the Fed works out its way to accommodate digital currencies in the country’s financial ecosystem. One thing is sure that digital currencies have a huge role to play in the global economy for the next decade.

Altcoins, Bitcoin (BTC), Cryptocurrency News, News

Bhushan Akolkar
Author: Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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Cryptocurrency Fraud Cases: TN Police Issues Warning To Investors

EOW has taken this decision in the backdrop of cryptocurrency fraudulent cases. In 2018, RBI had put a complete ban on cryptocurrency transactions …
Cryptocurrency Frauds In Tamil Nadu: Police Issues Warning To InvestorsCryptocurrency Frauds In Tamil Nadu: Police Issues Warning To Investors

In a bid to curtail cryptocurrency-based transactions in Tamil Nadu, the state’s Economic Offences Wing (EOW) has now issued a warning to individuals dealing with cryptocurrencies.

According to a report in The Hindu, the department has taken this decision in the backdrop of cryptocurrency fraudulent cases reported in Tamil Nadu. A few cryptocurrency investors were cheated in these cases, however, accused are now arrested, it added.

“The public is hereby advised not to deal with cryptocurrencies including Bitcoins, Ethereum, Ripple and more. Those trading in virtual currencies were doing so at their own risk, given that the Reserve Bank of India (RBI) has not given a licence or authorisation to any company to deal in such cryptocurrencies,” the Economic Offences Wing said.

Notably, RBI, on April 6, 2018, had told banks to withdraw all support services that were being extended to crypto entities, thereby announcing a virtual ban on cryptocurrencies. The deputy governor of RBI, BP Kanungo, had then suspected that the rise of cryptocurrencies beyond a critical limit might bring financial instability in the country.

The EOW further highlighted that cryptocurrencies are not a currency as per the definition of currency in India. It is not a derivative as well, it added. Explaining further, the department said that it is only a virtual currency that is similar to gold or precious metals which behaves more like assets rather than currency. “Most cryptocurrencies including Bitcoin, Ripple, Litecoin and Ethereum are not backed by a sovereign guarantee, and therefore are not considered as legal tender,” the notice added.

Unlike other investment options such as stocks, mutual funds, among others, there are no government organisations which regulate cryptocurrencies around the world. Once duped, investors are left with no option to redress their grievances. Moreover, the Indian government has not yet given the status of legal tender to any cryptocurrency.

RBI has warned investors about these risks many times in the past. Moreover, it has also highlighted that cryptocurrency can be used for unethical practices such as money laundering. To address these issues, EOW said that a draft bill has also been proposed to ban cryptocurrencies in the country and provide for official digital currency.

On the other hand, there are many startups that are urging the RBI to allow the flow of cryptocurrencies in the country. In an open letter written to finance minister Nirmala Sitharaman last month, cofounder and CEO of cryptocurrency trading platform, CoinDCX Sumit Gupta cited benefits of cryptocurrencies. Moreover, the Internet and Mobile Association of India (IAMAI) has also filed a petition in the Supreme Court in favour of open crypto regulation in the country.

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Bitcoin SV and information asymmetry

You are into cryptocurrencies, but not interested in Bitcoin SV? Let me … Bitcoin SV follows economics and enables growth, while BTC and other …

You are into cryptocurrencies, but not interested in Bitcoin SV? Let me kindly diagnose you with a severe case of information asymmetry.

Explaining the obvious is no fun at all: A has all information, B has none—who wins?

The crypto sphere is one of a kind when it comes to information asymmetry. Especially since Bitcoin SV came to life, information asymmetry has reached a ludicrous level to be astonished about. There are tons of false information on the one hand, and wild efforts made to hide true information on the other hand.

Whether you are an investor, a developer or a user of cryptocurrencies: you do not want to get hit by information asymmetry. It is devastating.

Let us face the current information asymmetry in the crypto sphere

Most people involved in cryptocurrencies gather information from crypto media outlets and crypto influencers. They do not put any effort in source based research themselves.

How come these kinds of people get punished by the market in the end? It is because they serve no function in the market. If they would actually do source based research, they would contribute to the finding of true information, even if they would not share their findings with the public. However, as they only follow the easily available mass media information, the market treats them as leeches and shakes them off eventually—just as nature does.

What can we do about information asymmetry? Use it for our own benefit, or help people to get out of it?

It depends. Sometimes I wander on “crypto Twitter” like a lost soul. If someone wants to know the truth about Bitcoin SV, I am honored to deliver true information. However, if someone only wants confirmation for an already set believe system, I do not deliver true information. I let this person crawl deeper into the freely chosen information asymmetry. Sounds cruel? If there is no longing for truth in a person, I feel no empathy.

Overlooked facts concerning the Bitcoin SV

The crypto sphere does not recognize cryptocurrencies as economics, but as politics or even religion. Bitcoin SV follows economics and enables growth, while BTC and other cryptocurrencies follow social media.

Let me introduce you to some facts that are overlooked by the vast majority of the crypto community:

Bitcoin SV uses a stable protocol. With a stable protocol that no developer or influential person can mess with, Bitcoin SV establishes a sound foundation for growth. Just like constitutional rights, which cannot or at least should not be subject to discussion in order to enable a functional rule of law for the rest of one’s lifetime, a stable protocol in economic terms makes long-term investments and planning easy for everyone. This is why already successful applications like Twetch, Peergame and Cryptofights chose to build on Bitcoin SV, because they are economically safe to do so by not having to fear any protocol changes in the future.

Bitcoin SV enables true peer-to-peer transactions by SPV as described in the whitepaper. SPV allows secure, efficient and fast payment—unlike other transactional models such as Lightning Network, where there is no peer-to-peer transacting, but peer-to-miner-to-lightning-to-miner-to-peer transacting only.

Bitcoin SV scales massively to meet the demand of the upcoming informational capitalistic driven society. Other cryptocurrencies are busy preparing anti-scaling efforts to prevent any use case at all—it makes no economic sense!

Bitcoin SV is secured by a patent fortress. This forces developers to build their applications that need a scalable blockchain exclusively on Bitcoin SV. Furthermore, patenting blockchain solutions puts pressure on competitors to invent creative ways in order to prevent licensing fees.

Bitcoin SV rejects the idea of an anonymous transactional system. In Bitcoin SV, you have and will have even more privacy in the future, but privacy does not equal anonymity. Any anonymous coin has no future due to anti-money laundering regulation. Regulatory friendliness is a true USP of Bitcoin SV.

There is much more to know about Bitcoin SV. Start reading CoinGeek.com and work yourself into source based research in order to prevent suffering from information asymmetry. If you need help or have any questions, there are literally thousands of Bitcoin SV proponents out there happy to hear from you.

Information asymmetry by choice and by force

All of the points mentioned above are free information, easy to be gathered. There is no hidden agenda in Bitcoin SV and the only reason why people do not take a closer look is due to their own choice for information asymmetry.

Instead of looking out for economic reasons behind this or that coin, they seek confirmation of their emotions and beliefs—yet they call themselves investors, developers and influencers. On the one hand, they suffer from information asymmetry already, and on the other hand they perpetuate information asymmetry for others and themselves. It is a deadly cycle. They deserve all of its consequences.

Information asymmetry can be used as a tool. In political terms, dictatorship governments make sure real information does not hit the public. In economic terms, information asymmetry is a competitive advantage or disadvantage. In legal terms, information asymmetry can turn around court cases apart from the actual substantive legal situation. One could go on and on with examples.

It is obvious that influential crypto personalities and crypto enterprises nowadays do not suffer from information asymmetry themselves—they are well aware of the points mentioned above. Yet, they decide to force information asymmetry on their followers and customers in order to prevent them from having a reasonable look into Bitcoin SV.

Getting hit by information asymmetry

If you are on the wrong side of information asymmetry, life is paradise for a while, because you are not aware of the fact that you are actually on the wrong side. You get annihilated eventually, but hey, it takes its time.

If you are on the right side of information asymmetry though, life is hell for a while, because you wait and wait for information asymmetry to finally crush your opponents. Unfortunately, this also takes its time and in the meanwhile, you may very well lose your mind.

In an informational asymmetric environment, at least one party gets devastated in the end. When information asymmetry finally dissolves, it hits hard and fast.

Emotions and beliefs do not play any role in information asymmetry. You do not like Dr. Craig Wright? Does not matter. You think transaction volume is irrelevant for cryptocurrencies? Does not matter. You hate patents? You hate big blocks? You hate a set in stone protocol? You think it is clever to “verify the blockchain” on your pocket calculator from 1990?

Bitcoin is economics. Economics is true information. Whether you are an investor, a developer or a user of cryptocurrencies: seek true information.

The real world—businesses and businesses and businesses—is very well aware of any danger coming from information asymmetry. They are incentivized to seek truth. You should be, too.

New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.

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