I always enjoy challenging the establishment so I would like to find out the value of my fav crypto. Alright, alright, I am just kidding and I am just making a point for bitcoin lovers, anything you can say about bitcoin can be said about litcoin too, and even more! But let's throw logic aside, and just argue price! LTC almost hit $100 a few days ago, topping at $95 or so. In 7 years it went from zero and being a few digits on your computer to be a currency that is accepted in thousands of places to buy services and merchandise. And even if it is not accepted it is exchangable with bitcoin, and as we know bitcoin can be used here and there. Of course LTC has a few advantages over BTC, first it is still cheaper, volatility is more and simply, there is more of it so you can be richer!!! Since LTC is better in every way than BTC, I say it will go to 5K in the next 2 years, following BTC's example. Load up and hold, my friends!!! So I would like to hear the evaluation of LTC from mostly bitcoin enthusiasts and what would be their convoluted reasoning, please don't hold back!
So no takers? No crypto fan wants to explain why Litecoin's value shouldn't be at least 1:4 to BTC? It is faster, SegWit was enacted much earlier thus more flexible, etc. But OK, let's say we can't really put a fundamental value on cryptos, that doesn't mean we can not put a value on their relationship. I say LTC can do everything what BTC can, and the number of coins are 4 times more, so a fairly decent valuation would be 1/4 of BTC's price. Since currently we are way below that evaluation one should be long LTC and short BTC, to play it safe...
I believe you , the reason why Bitcoin is valued higher surely has to do with the kudos /psychology of being 1st , it's almost an antique.The rise of better competitors is a real problem for something that has no material substance , you can't even really show it off , it's not easy to pull by asking a sort to come back and look at your bits( I know , I've tried). It's really hard to see how this will pan out , ease of use will be a big pull , and as Pekelo says I would bet there are going to be plenty that are better in a practical way, I suspect this is a very unpredictable situation , the most likely scenarios are that Bitcoin will be worth many times more than it is now, or many (oops sorry just 1)times less , and on this basis you'd want to be long.
First mover advantage is the only reason why BTC is more valuable than Litecoin. BTC infrastructure is more advanced than Litecoin. There are more developers working on BTC applications than Litecoin. The ecosystem is deeper, better, and attracts more talented developers. Otherwise, you are correct.
So once ahead likely to stay there? ( I suppose unless there is some basic building block which ultimately limits Bitcoin, it could be a flaw or simply a better way that Bitcoin can't or won't adapt to ), is something like that on the horizon?
Huh? Its exchangeable for fiat. 1 LTC will buy you USD$75. You're making this coin sound like some backyard invention with a few mates willing to exchange it between each other. No evaluation, i will give you what the market value will be though >150 (in1-2 months) > 500 (in 6 months)