LiteCoin will Rise like a Phoenix

It was just about March this year when Litecoin took off on what can only be called an exponential rise in value.

You should look for the best hyip investment sites for the playing of the bitcoin casino games. It is essential for the understanding of the market to get the desired results. The meeting of the needs and expectations of the people is possible with the selection of the right program.

As of today, Litecoin has a current Market Cap of $2,759,452,600. For those not good with written figures, that’s about USD 23/4 Billion (1) (not million) which is the equivalent of 655,488 Bitcoin.

Update: Since this article was originally written, Liktecoin Market cap has just about doubled to USD 4.6 Billion. See CoinMarketCap.

In the past day it has seen a trading volume of over USD 70.5 million.

But the most interesting thing about LiteCoin is that with 53,226,382 LTC already in circulation, it is rapidly reaching its Maximum Supply of 84,000,000 LTC.

When that happens, the results will be really interesting, because it’ll be the first time a crypto-coin has run out of new coins to issue. Miners won’t be able to mine them, although they’ll still be in business, as people trade LiteCoin for other tokens/coins and the miners will make their profit by approving transactions.

Scarcity Means Added Value

But what happens when any commodity has reached the end of its production line? Well, we’ve never seen that in the real world, but we’ve seen what happens when supplies become severely restricted. Oil can triple in value when a country decides to withhold it’s supply from the market. Or when America puts sanctions on oil imports from that country in an attempt to raise the price of oil to meet the interests of those massive companies who hold the biggest interests in oil. Just by making a suggestion of sanctions against an oil-producer, you can make a few companies US$Billions overnight.

One of the few things we can know for certain is that there is a limited supply of diamonds and gold. As for the diamond supply, it’s been rumoured that the scarcity is artificial because people like De Beers limit the release of diamonds onto the market, and they are said to be holding back USD Billions in rough diamond value. So it looks like there won’t be a diamond shortage any time soon. But that doesn’t seem to be the case with gold. Gold has value and has mostly kept its value in line with inflation. And there is still a limited but steady supply of newly mined gold reaching the market. But that may not always be the case.

Ben Yu

As Ben Yu, the guy who famously, or should it be infamously, fortuitously, cleverly, or due to good timing(?), earned over $400,000 with a $10,000 investment in Bitcoin and Ethereum says on NextShark


… Gold, on the other hand, doesn’t inflate like fiat currencies do. That’s because there’s an intrinsically limited supply, and consequently, things tend to cost the same in gold over long periods of time. In fact, 2,000 years ago, Roman centurions were paid about 38.58 ounces of gold. In US dollars today, this comes out to about $48,350. The base salary of a captain in the US army today comes out to just about the same at $48,500. /UNQUOTE

That might seem like a digression, but it’s not, because when an important gold mine closes down, the value of gold shoots up. It’s an invariable consequence of anticipated lower supply.

Another quote just to make the point, this time from Business Insider contemplating what will happen if the last currently known gold reserves are depleted in the next 20 years:


Another consequence of recovering the last known nugget? The gold price could spike dramatically to levels only imagined. My colleague Jim Rickards, in his book “The New Case for Gold,” puts it at $10,000 an ounce. GoldMoney founder James Turk says it’s closer to $12,000. There’s really no way of knowing how high gold could go. /UNQUOTE

My Point about LiteCoin Potential

Bearing all this in mind, my point is not that you should invest in gold, although some people might point you that way, but in something that has even greater potential long-term value. When there is no more LiteCoin to issue, the price will have no option but to skyrocket in value, and there is no way of knowing just how high the price could reach. The only LiteCoin available then will be from those willing to sell, and as people grasp for LiteCoin of ever-increasing value, those who sell will be selling at a good profit, causing the price to rise even more, with the effect that more people will want to buy in. And so the cycle of LiteCoin inflation continues, with no end in sight.

As people holding LiteCoin see the rising value, they’ll want to hold-on to their coin as long as they can, and the only people selling will be those who just have to cash-in because they need the money.

I don’t claim to be any kind of cryptocurrency guru, (and most of those who do make that claim are scammers), but even with my limited guruishness (if that’s a word), I can see the inevitable.

I have no vested interest in this except that I do own some LiteCoin, and I’m not planning to sell any time soon, so I’ll be happy to see the price shoot through the roof. But my eggs are in multiple baskets.

And I have also suggested to my friends that they get hold of some LiteCoin while the price is still low, because there is profit to be made there, in my humble opinion. And it could be huge profit for smallish risk.

If you don’t think I’ve proved my point that adding some LiteCoin to your crypto-portfolio is worthwhile, you are welcome to voice your opinion below. For myself, I’m still not sure if SegWit (Segregated Witness) which Litecoin has activated is a good thing or a bad thing. I’m inclined to think that although it has advantages, it could be a bad thing, but I’ll write a separate article on SegWit.

Meanwhile, I’ve got to add my ‘variable’ disclaimer. I like to point out at the bottom of my articles that I’m not a financial advisor. I’ve lost money sometimes. I’ve made a lot more than I’ve ever lost. But you have to be your own judge of what to do with your money, unless you want to hand that decision to someone else. If you do that, the person to whom you hand that decision is also the person to whom you are handing a large part of control of your destiny.

About Admin

Michael Valdez is a news writer and a social media influencer. Before joining, he used to be a news anchor at TV 5 News Station

Similar Posts