why I'm a long term hodler of Litecoin
Litecoin, the silver to Bitcoin's gold. I've been buying since the early days and even passed over purchasing several other coins because of it. It's also the biggest past of my 'blockfolio'. Why did I decide to put most of my funds into it over anything else?
Pros of Litecoin
-Fаѕtеr аnd аlmоѕt zеrо trаnѕасtіоn fее соmраrеd tо Bіtсоіn. Mіnіng іѕ easier оn Lіtесоіn ѕіnсе іt uѕеѕ a nеw Prооf оf Work аlgоrіthm.
-It іѕ сrеаtеd bу fоrmеr Gооglе еmрlоуее аnd lаѕtѕ fоr 6 ѕіx уеаrѕ bу nоw, whісh іѕ mоrе ѕесurе thаn mаnу оf thе оvеrnіght соіnѕ.
-Uses of the Scrypt algorithm instead of the SHA-256 algorithm. This difference was meant to keep ASIC miners out in order to better distribute the hash power to the users. This makes it better distributed than other coins.
-Small market cap makes it move to the upside faster than bigger coins, however the market cap is big enough to attract large investors.
These are just a few reasons why I'm a believer in Litecoin and am optimistic on it's long term outlook.
Congratulations @austin101! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Do not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - The results, the winners and the prizes
hi @austin101 litecoin is gud cryptocurrency and huge potentail
Yeah... but are you just saying that or did you actually invest in some?
It's easy to verbally support a project but it's another thing to actually put your money on it> (Believe my, I've got an arm and a leg invested in this)