Litecoins Mining and Next Steps

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As the entire crypto market keeps taking a beating it does show us some truths about a number of coins. Including Litecoin which has shown that development on the coin is rather low compared to the picture that was being painted to us all.

Litecoin recently halve and normally that would have meant a rally. However it seems like we took two steps back this round and lost over $30-$50 per coin in just the last month!

Litecoins mining power is also way down after the halving event now down over 30% it might go to show that POW might not work as it currently stands.

With each reduction in rewards for mining blocks and mining power going down it would seem that once the rewards per block falls low enough and miners move to other coins it could put the system at risk.

At least for altcoin that is. Bitcoins POW system which you would think would be going down with each hardfork has instead gone up!

It will be interesting to see over the next few months if things stay slow that development continues on these coins or not. If not they very well could end up losing more value and becoming less and less used.

One other thing I did take notice to the other day was as the trade wars and recession start to hit as stock drop crypto seemed to get a nice bump. This could again make 2020 one amazing year for bitcoin. Most likely the economy around the world will slow down, trade wars heat up and a recession is possible. Those three things along with bitcoin halving could paint a very big successful picture for bitcoin in 2020.


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(Edited)

The litecoin halving seems to have meant halving in price. Very disappointed in this. I am now disappointed in every position I have taken except Bitcoin. I guess that makes me a bitcoin maximalist. And about damn time.

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The lower hash rate should entice miners to allocate resources to support it over the medium term and if the refocus on development from the Foundation is executed, it could help prices stabilize once again.

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