Posts about Litecoin
Ethereum might split into 2 chains after the merge- A historical look at price action of previous splits with Bitcoin, Ethereum, Litecoin, and Monero
Whenever there's a hard fork, there's a chance one coin splits into two. The first time this occurred was with Ethereum in July 2016, due to the DAO Hack, which created Ethereum Classic. Since then, other notable forks include Bitcoin to Bitcoin Cash (July 2017), Bitcoin Cash to Bitcoin SV (November 2018), Litecoin to Litecoin Cash (February 2018), and Monero to Monero Classic (April, 2018).
All these splits happened for philosophical reasons I won't get into, but what I am interested in exploring is how the old and new chains reacted in the market and how the price action played out.
The following table lists the 5 hard forks that caused the splits. The prices listed were gathered from CoinMarketCap and listed as the close price on the appropriate date. You will be able to see the price movements through the years and the relative difference of the old chain to the new chain. The dates listed are the first date CMC had price info on the coin, not necessarily the day the fork happened.
NOTE: To scroll through the table, scroll to the bottom of the post. There will a scroll bar.
|Chain Split||Date||Original Chain Price 1 day before split||Original Chain Day of Split||New Chain Day of Split||OG Chain 1 month later||New chain 1 month later||OG 1 year later||New 1 year later||OG 2 years later||New 2 years later||OG 3 years later||New 3 years later||OG 4 years later||New 4 years later||OG 5 years later||New 5 years later||OG 6 years later||New 6 years later|
|Ethereum to Ethereum Classic||7/24/2016||$14.30||$12.75||$0.93||$11.04||$1.44||$224.71||$15.88||$479.00||$16.63||$217.00||$6.12||$279.00||$6.25||$2189||$4948||$1599.00||$25.60|
|Ratio OG: New||13.72||7.67||14.15||28.80||3546||44.64||44.24||62.46|
|Bitcoin to Bitcoin Cash||7/23/2017||$2810.00||$2730||$413||$4151||$669||$7711||$788||$9900||$298||$9581||$237||$33581||$455||$22465||$122|
|Litecoin to Litecoin Cash||2/21/2018||$232.85||$213.35||$4.71||$169.05||$0.29||$49.15||$0.011||$73.45||$.00601||$227.23||$0.0114||$103.45||$0.00801|
|Monero to Monero Classic||4/20/2018||$238||$271||$6.40||$203||$8.14||$69.52||$0.95||$55.07||$0.18||$401.21||$0.63||$266.56||$0.34|
|Bitcoin Cash to Bitcoin SV||11/9/2018||$574||$544||$68.75||$109||$97.42||$282||$130||$263||$160||$716||$192||Today- $115||Today- $51|
Looking at this data, the 5/6 coin splits had the new chain outperform the original chain after 1 month, but only 1/6 chains (BCH to BSV) had the new chain outperform the old chain over time and this was a split of a split.
If my Ethereum splits into 2 separate tokens, I may hold on to the new one for a brief period, but I'm going to make sure I sell it before the year is out!
To those with heavy BTC bags, or maxis who contribute in this sub and/or lurk, what do you all think of Litecoin? It shares a lot of what makes BTC so good.
It's proof of work, limited supply like BTC (84m), no pre-mine. Good for payments, widely accepted everywhere that BTC is, it's decentralised, and the creator sold his LTC in 2017 to free it from any centralisation. 10 years old and has stood the test of time, is still being actively developed.
It clearly works very well as a payment system, and if we consider BTC digital Gold, could litecoin be considered silver? Silver is much cheaper than gold, less desirable, but has its usage and just quietly goes about its business.
People praise BTC for many aspects which LTC also has, and arguably does some things better, yet it kinda just sits there, existing.
I'd love to see some of your perspectives on it.
I did try to post this to the bitcoin sub, but quelle surprise it wasn't approved, because anything other than BTC is a shitcoin, amirite?
For the first time ever since I began monitoring profitability of other pools, nicehash has overtaken litecoinpool on profitability.
Here are the metrics (a 0% fee was used for LTCPool and a 2% fee was used for NH):
NiceHash 0.12639572 BTC/Th/s
LitecoinPool 0.11929840 BTC/Th/s
This is about a 6% difference, all due to the Dogecoin profitability skyrocketing.
The highest profitability among all pools is still PowerPool.io: 3% higher compared to NH and 9% higher compared to LTCPool
PowerPool 0.13049631 BTC/Th/s
What are your thoughts?