Litecoin decimal places

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However, both Bitcoin and Litecoin can be subdivided up to eight decimal places. If or when the value of these cryptocurrencies increases well beyond their current values, the smaller increments will become more useful. Litecoin uses SegWit Segregated Witness , a technology that allows more transactions within a block , which speeds up the processing time for individual transactions.

Slow transaction completion times have been one of the leading criticisms of Bitcoin compared to alternatives. Active development for smart contracts is centered on Ethereum. Government regulation of currencies or bans are also a concern. The fact that Litecoin has survived this long since October and that it is one of the few currencies available on the highly-selective Coinbase exchange could indicate a better future than other altcoins.

A potential risk of owning Litecoin is that one of its main selling features, SegWit , a method of shrinking transaction sizes, is being considered for Bitcoin as well, which would eliminate a significant advantage of Litecoin.

However, SegWit has been a topic of spirited discussion within the Bitcoin community for years and may never be added to Bitcoin. Like many cryptocurrencies, Litecoin enjoyed a massive runup in price at the end of and into early Prices have fallen since that time but remain substantially higher than early levels.

Ethereum was the brainchild of Toronto programmer and Bitcoin enthusiast Vitalik Buterin. In , he released a white paper about Ethereum, detailing the potential uses of an alternative blockchain technology that could work as both a financial instrument and decentralized platform for developers to build applications. More developers joined ranks and Ethereum had momentum and a growing community of high-tech enthusiasts. By , Ether was a live cryptocurrency powering the Ethereum blockchain.

Since its beginnings just a few years ago, ETH has grown into the second-largest cryptocurrency by market capitalization. Bitcoin was built as a cryptocurrency platform. Ethereum is a decentralized application platform — one that also hosts a cryptocurrency, a fuel for the network.

The difference may seem like semantics, but the distinction is a large part of why Ethereum has had such wide adoption in such a short amount of time. While it is impossible to predict the future of the cryptocurrency bull run, it is apparent that Ethereum as a project and foundation has much stronger fundamentals and progress than Litecoin. Ethereum is the clear winner of this battle, and a much safer investment relative to LTC.

It is important to remember that we are still in the very early days of crypto, blockchain and smart contracts — so all investments should be categorized as speculative. Want to learn more? Benzinga crafted a specific methodology to rank cryptocurrency exchanges and tools.

We prioritized platforms based on offerings, pricing and promotions, customer service, mobile app, user experience and benefits, and security. To see a comprehensive breakdown of our methodology, please visit see our Cryptocurrency Methodology page. Learn more about the best cryptocurrencies and altcoins you can buy based on VC-backing, technology, price and more. Read More. Learn more about the best cryptocurrency trading platforms to trade your coins. Rankings are based on usability, fees and more.

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Просто открыть биткоин кошелек аккаунт разделяю

Software is routinely beta and layers are nascent. For the uninitiated Bitcoin can seem daunting and full of technical jargon. Among the most challenging intellectual leaps involves the decimal. Each Bitcoin is divisible to 8 decimal places ,, individual units. The fiat currency we have always known is divisible to only 2 decimal places. This represents a huge paradigm shift. So Bitcoin is more perfectly divisible than any of its fiat monetary competitors.

Theoretically, this is is a source of strength. However, there is a vast gap between theory and reality. For adoption: perception is reality. Perception is king. This question has far reaching implications for adoption. At its heart lay the decimal place and the psychological impact of nominal representations of wealth.

Theoretically Bitcoin does not need any clones. With 21 million nominal units, divisible to 8 decimal places, it is more than capable of supporting a global economy. Nevertheless, Bitcoin is an open-source project. So, for better or worse, it has a potentially infinite number of copies. However, neither exists physically. So, network effects aside, they are interchangeable for a given user.

Numbers, psychology and value all interact inside our minds. Research on pricing psychology suggests that numbers and their arrangement around the decimal place influence perceived value. As the eyes move left to right, digits to the left of the decimal place are most significant for us.

We have learnt to see these numbers as important. We have learnt to overlook anything laying to the right. As Bitcoin increases in value, wealth representation necessarily moves to the right. Our perception of a given thing creates a price point: the point at which demand changes. Perhaps then, a user will irrationally tend towards participation in a network that denominates their worth with a bigger number. A user may tend towards the use of Litecoins, for example, out of a desire to own whole units.

This would give the user a larger nominal representation of wealth, fewer zeros to the left and a greater psychological satisfaction. Scientist and researcher Stanislas Dehaene notes that prices with precise numbers tend to make consumers uneasy. Prices are rounded to calm consumers and increase perceived value. Dehaene also notes that Rounded numbers convey value.

They exist, at least partially, for the very purpose of dealing with trading in and out and to and fro different exchanges. Therefore, the popularity for Litecoin as a medium between exchanges has waned. Litecoin is unlikely to develop other future use cases, as it is established as a currency coin. As Bitcoin improvements like the Lightning Network bring down transactional costs and increase speed, and more exchanges adopt stablecoin pairings , Litecoin continues to see its competitive advantages erode.

While the units of both Litecoin and Bitcoin are highly divisible to eight decimal places, Litecoin still enjoys the psychological advantage of a lower price point as compared to Bitcoin for the casual investor. Without a unique use case or clear competitive edge over other projects, Litecoin could become unnecessary as stablecoins become more prevalent and other projects discover scaling solutions leading to lower fees and faster transaction times. For example, much of the security Litecoin enjoys is reliant upon the token price.

If the price falls due to competitive pressure, so do the overall security and mining rewards, which could lead to a snowball effect of fewer users, miners, and hashing power. Additionally, Litecoin may face a future direct challenge from Bitcoin due to the fact that both use the Lightning Network protocol as a second-layer solution. It can be seen that a negative feedback loop exists in the limited supply of users as a reason for limiting demand, and vice versa.

With few Litecoin users, few merchants are incentivized to adopt Litecoin as a payment option. Until technology advances to enable Litecoin to live up to expectations as a payment option for goods and services, enthusiasm will remain out of the public perception, limiting supply and demand to only users and merchants who tend to be early adopters and are technologically savvy.

Charlie Lee, the founder of Litecoin, seems to hold a non-insignificant amount of power and influence over the direction and health of the project as a whole, despite having sold his entire LTC position in This creates a confusing relationship with potentially misaligned incentives. An argument could be made that he no longer has a financial reason to make sure the project is a success or gains mass adoption.

Critics would have preferred he enable a time lock on his holdings or commit his LTC toward community activities, rather than sell them outright. Charlie Lee and the Foundation came under fire in for what the community perceived as a stagnant project with little development and overpromises of privacy features. All while no major Litecoin upgrades were rolled out in It should be noted, however, that LTC is currently working towards implementing MimbleWimble , a privacy focused upgrade, into the project.

While it has not yet been released, it is encouraging that the project seems to have not fully stagnated. With that said, the project is open source. The Litecoin development team also has numerous points of contact via social media. The development team no longer works predominantly out of the master GitHub repo and has seen a drastic reduction in GitHub activity compared to years prior.

A reason for the decline can be attributed to the fact that most developers work on a personal branch and then merge finalized changes with the master branch. Litecoin is always in a stage of active development to fix potential vulnerabilities, despite not having an official bug bounty program. In September , a possible denial-of-service vulnerability was identified and fixed. Although Litecoin did not originally plan on ASICs being a part of their ecosystem, an added benefit to their inclusion is a strengthened, albeit possibly more centralized , total hash power.