Litecoin price Archives – BlockExplorer News what is one bitcoin worth

Litecoin targets everyday payments

Bitrefill’s decision to add litecoin payments is indicative of the cryptocurrency ecosystem’s changing landscape. Once viewed as a direct rival to paypal, bitcoin is now looked on as a store of value, as evidenced by the community’s decision to prioritize security over low-cost transactions — at least in the short-term. Just this weak, gaming service steam stopped accepting bitcoin payments, citing rising transaction fees.

But while the median bitcoin transaction fee currently exceeds $10, litecoin’s is less than four cents. Consequently, litecoin advocates view the present cyrptoeconomic order as an opportunity to establish LTC as cryptocurrency of choice for everyday transactions. However, the “silver to bitcoin’s gold” faces steep competition, particularly from a bitcoin offshoot that protests that cryptocurrency should first-and-foremost be “electronic cash”.What is one bitcoin worth

Launched in august through a hard fork, bitcoin cash boasts that it fulfills satoshi nakamoto’s true vision for the cryptocurrency. Many of its advocates believe that it will eventually supplant BTC, with one developer predicting that bitcoin cash will be renamed “bitcoin” within six months.

Featured image source: pexels/oliur rahman

It’s a good day to be a hodler.

Following years of anticipation, doubts, bubbles, crashes, and a yearlong bull run that almost no one expected, the bitcoin price punched through the $10,000 threshold on bitcoin exchange bitfinex, home to the largest BTC/USD trading pair.

The achievement sent a wave of euphoria throughout the bitcoin community, and it was particularly satisfying for early adopters who endured years of derision as they fought to help bitcoin become a mainstream financial instrument.What is one bitcoin worth

#bitcoin was a gift from satoshi and other pioneers. This price was earned by the community over some hard years. Let’s be worthy of the massive opportunity in front of us. Pic.Twitter.Com/ljknwn0j5x

— ted rogers (@tedmrogers) november 29, 2017

But the celebration did not end there.

Minutes later, the litecoin price quietly crossed the $100 threshold to punctuate its own record-setting run and raise its market cap to $5.5 billion.

And now LTC $100!!! 🎉🚀 https://t.Co/tixf9m8rp4

— charlie lee [LTC] (@satoshilite) november 29, 2017

Since the beginning of the year — when LTC was trading at just $4.33 — the litecoin price has increased by more than 2,200 percent — a surge that eclipses even bitcoin’s unprecedented climb. Source: coinmarketcap

As with bitcoin, the rally was led by south korean traders who bid LTC up to a significant premium.What is one bitcoin worth while LTC/USD and LTC/BTC slowly crept toward $100, bithumb’s LTC/KRW pair was already testing $120. Source: coinmarketcap

Of course, it’s important to note that litecoin could never have reached this historic milestone without the benefit of bitcoin’s tailwinds, and — given that it hit $100 just minutes after bitcoin reached $10,000 — it quite literally rode to this record on bitcoin’s coattails.

That said, litecoin has demonstrated a commitment to innovation in 2017, as evidenced by its adoption of the segwit scaling upgrade months before it activated on the bitcoin network. Litecoin served as a real-world sandbox for segwit, and its successful implementation likely hastened its eventual integration into bitcoin. Consequently, it is fitting that these two “founding fathers” of the cryptocurrency ecosystem should cross their respective milestones on the same day, almost hand in hand.What is one bitcoin worth

And, with the advent of lightning network technology over the coming months and years, the link between bitcoin and litecoin is expected to grow even stronger. Search for: search newsletter sign-up

In august 2017, bitcoin forked into two variants. These have taken radically different paths.

Looking at the situation one quarter later, it is clear to us that the blockstream fork of bitcoin diverges so radically from the ideas presented in the bitcoin white paper, that it is an evolutionary dead end. While it may still have high trading value, as a mere collectible of curiosity, the blockstream fork of bitcoin is not part of building any future financial infrastructure, which is what block explorer is about.

A currency of the future has subcent optional usage fees and instant transactions. The blockstream fork of bitcoin (“bitcoin legacy”) is at $20 usage fees and rising, with no end in sight, and can take days to confirm, despite unfulfilled promises to the contrary on both points when segwit activated in what can only be described as a community fistfight.What is one bitcoin worth we are therefore making the decision to consider the blockstream fork deprecated, and support it as legacy technology only.

Rather, we have made the decision to support the only bitcoin fork with a postive utility momentum, which is bitcoin cash. We took an early decision to deploy a bitcoin cash block explorer and will continue to roll out related services. We are also deploying tools for other cryptocurrencies we find on a positive momentum path, such as zcash, which have increased privacy value.

We will not add future support for the blockstream fork of bitcoin (“bitcoin legacy”), and will be deprecating it entirely at some future point in time to be determined. Developments have revealed it to be a dead end. At such a time, we will refer to bitcoin cash as bitcoin only, but will make some effort to not break API calls by changing urls of legacy automated systems.What is one bitcoin worth

Developers

Https://blockexplorer.Com will be switched over to displaying bitcoin cash data.

Https://bitcoinlegacy.Blockexplorer.Com will display bitcoin legacy data.

Https://blockexplorer.Com/api will continue to serve data from bitcoin legacy for now until we feel confident we can deprecate it, in which it will then serve bitcoin cash data.

Https://bitcoinlegacy.Blockexplorer.Com/api should be used immediately to use the bitcoin legacy API.

Https://bitcoincash.Blockexplorer.Com/api should be used for the bitcoin cash API for now, until it is switched over to https://blockexplorer.Com/api

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