For those of you who missed it (most of us), the second Bitcoin convention “Inside Bitcoins – the future of virtual currency” was held in Las Vegas, Nevada on December 10-11. There were many prominent speakers, including Bobby Lee, CEO and co-founder of BTC China. As most of us know, BTC China helped cause the massive spike in Bitcoin prices recently. And now, something similar could happen for Litecoin.
Litecoin is the second most popular cryptocurrency; many have compared it to silver as they compare Bitcoin to gold. However, although Litecoin was meant to be worth 1/4 the value of Bitcoin (since 4 times as many Litecoins as Bitcoins will eventually be mined), it is currently worth about 1/30 the value of Bitcoin. Litecoin has several benefits over Bitcoin (faster transactions, being ASIC-proof, etc.) yet it remains overshadowed by Bitcoin and is worth quite a bit less. However, this is likely to change if BTC China does indeed start accepting Litecoin. Cryptocurrencies gain value from speculation and popularity. If China’s largest Bitcoin exchange were to start accepting LTC, Litecoin would be sure to soar.
Link to original tweet: https://twitter.com/chijs/status/410855263391219712