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Buy Bitcoin, Sell Litecoin (LTC)? Abra CEO Begs To Differ

Buy BTC, Sell LTC?

For some odd reason, the recent rally in the Litecoin price has sparked a debate about its long-term staying power, especially in an industry continually dominated by its parent chain, Bitcoin (BTC). The popular altcoin may be up over 300% since December’s bottom, but many are still taking issue with it. In fact, Mike Novogratz, the head of Galaxy Digital, recently explained that LTC is overvalued and that investors should buy BTC instead.

Novogratz, a proponent for primarily Bitcoin and Ethereum, explained that silver’s $15 billion market capitalization is 0.17% that of gold, which sports a hefty $8.5 trillion valuation. But, LTC — being historically the silver to digital gold Bitcoin — has 6.4% of BTC’s market capitalization. He adds that Litecoin is just a “glorified testnet for Bitcoin.” This, of course, implies that the investor thinks that LTC is too highly valued for its own good.

However, Bill Barhydt, CEO of Abra, recently came to the asset’s rescue in a segment with Cheddar, a media startup. The American entrepreneur, formerly of NASA, the CIA, and Goldman Sachs, explains that whether it be Ethereum, XRP, or otherwise, many other chains are solving problems in their own right, with “Litecoin is the perfect case in point.” Barhydt explains that Litecoin’s move to integrate MimbleWimble, a privacy solution, and the chain’s classification as the “perfect Bitcoin test bed” cements its value in this ever-changing ecosystem.

Barhydt isn’t speaking out of his rear end, so to speak, as his company has used the chain for practical purposes. The Abra chief tells me in an interview that Abra, which provides financial services through blockchain-based contracts, uses Litecoin and Bitcoin currently. While the latter bears much of Abra’s load at the moment, the former is what Barhydt sees as a way for his company to increase liquidity and mitigate risks of network clog. The fact that Litecoin’s block times are one-quarter that of Bitcoin helps, I’m sure.

And Charlie Lee thinks that too. In a recent tweet, the Litecoin creator fought back against LTC bears. Lee, a former Coinbase employee, explains that Litecoin has value especially when Bitcoin has high transaction fees. In fact, with a platform called Boltz, a cross-chain “submarine swap” can allow users to send LTC to fill up their BTC wallet, this being a use-case for the former in and of itself.

Critics Double-Down On Bitcoin Love, Litecoin Skepticism

Yet, many have still maintained that LTC might not survive in the long run. In response to Charlie Lee’s above tweet, Francis Pouliot, a prominent figure in the Canadian Bitcoin space, called LTC investors “suckers.” CobraBitcoin remarked that Lee sounded awfully like Roger Ver. And Mr. Hodl noted that Charlie shouldn’t have a reason to keep on trying to “pamp [LTC],” citing the insider’s move to liquidate his stack.

Regardless, analysts have come to the conclusion that the altcoin will rally no matter how sentiment fares. As established in previous reports, commentators across the board see Litecoin’s block reward reduction as a decidedly bullish catalyst for LTC.

Photo by Alex on Unsplash

The post Buy Bitcoin, Sell Litecoin (LTC)? Abra CEO Begs To Differ appeared first on Ethereum World News.

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Ripple’s XRP and Tech best Choice for Amazon to Go

The Crypto – Market – Ripple’s XRP

Despite many believing that the same 2017-gold rush will return very speedy this year, it seems like we have to wait a bit longer. In these times of violent sell-offs, it is of positive nature to return to the words of Bill Barhydt – CEO of Abra, who said:

“I talk to hedge funds, high net worth individuals, even commodity speculators. They look at the volatility in the crypto markets and they see it as a huge opportunity. Once that happens, all hell will break loose. He added: “Once the floodgates are opened, they’re opened.”

Parallel to that, just yesterday the CEO of IOHK and Cardano co-founder Charles Hoskinson on an announcement video regarding his platform added that this unsettling market volatility happened even before and we were there so everything is fine.

Keeping the above in mind, it is a good moment to look out for the best choice in the market. The prices have dipped majorly and there is a high chance it will be very rare they are this low again. So, whichever your choice is, this time around is a golden windows opportunity to step in.

Ripple’s Tech Able to Support Giants

Ripple’s XRP has established itself as one of the primary cryptocurrencies to shape the future of digital commerce. As the existing financial infrastructure does need a good rework, one of best to go [many cooperation, financial entities and firms have returned with positive test results] could be turning Ripple‘s XRP, xCurrent and xRapid.

For a company like Amazon, the best yet to do after witnessing many commencing digital currency support is to go for the one that is most user friendly.

Ripple’s high coin supply and subsequent lower price-per-coin will come in handy for creating a user-friendly market. Cryptocurrency will never find a place on Amazon’s market if it can’t prove to be beneficial to the customer experience. Price volatility and slow transaction times are antithetical to this mantra. But Ripple offers an alternative.

Let us say that the coin is implemented and it is targeting users. What would be simpler for the online store user to handle with .0001 BTC or lets say 1 XRP. For a trader or someone that works in the finance it is the same as the pricing has no difference. However, for a consumer it is much easier to go with 5 XRP instead of 50,000 satoshis.

Speed

Speculation of an Amazon partnership were first seen in the Crypto-verse late last year. The idea behind the speculation hinged on the reliability of XRP during transactions. The coin is known for 3.3 second transaction speeds and $0.0004 charges per transactions. These are performances that a leading online retailer like Amazon needs for the process of moving into the future and improving the online payment settlement.

The event would not be that shocking because we have to keep in mind that Ripple’s tech is being tested and promoted by various firms, baking institutions or financial companies like MasterCard American Express, Santander.

XRP Best of Exchanges

The Binance cryptocurrency exchange is one of the most active ones in the crypto-verse. There have been many and popular tweets circulating the crypto-verse by enthusiasts that XRP should be a base coin for Binance. Some of the reasons XRP fans outlined in the comments of the tweet as to why Binance should start pairing the digital asset as a base for trading are as follows:

  • It would help Binance for it is faster and cheaper
  • A base currency of XRP would bring in more users to the exchange
  • XRP is the fastest digital asset to transfer funds between exchanges

Accordingly, Weiss Ratings has also agreed and supported the request to add XRP as a base currency on the exchange.

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All Hell Breaking Loose For Bitcoin (BTC) In The Markets

Less than two weeks ago, Abra CEO, Bill Barhydt, had predicted that All Hell Will Break Loose in the Crypto markets once the big time investors started pumping their funds into the crypto markets. Well, perhaps Bill can now be considered a prophet for the market is all green in the last one hour. Bitcoin (BTC) has done a massive $1,000 gain in less than 30 minutes, and it has pumped the entire market with it.

Bill was quoted as saying:

“I talk to hedge funds, high net worth individuals, even commodity speculators. They look at the volatility in the crypto markets and they see it as a huge opportunity. Once that happens, all hell will break loose. Once the floodgates are opened, they’re opened.”

The flood gates seem to opened ladies and gentlemen. Bitcoin (BTC) jumped from around $6,800 to $7,796 in a period of less than an hour in one of the most massive pumps seen this year. It has since settled to levels of $7,627.

So where is the volume and funds coming from?

The first and most obvious theory, is the one that Bill Barhydt had predicted of big time investors jumping into cryptocurrency investing. To note is that the famous Billionaire, George Soros, has been noted as welcoming the idea of investing in cryptocurrencies through his company, Soros Fund Management. The Rockefeller family is also getting in with the partnership of its investment arm, Venrock, with crypto startup, Coinfund.

A second explanation, could be American money coming in from the annual Tax refund season in the country that ends on April 15th. Perhaps a few crypto savvy individuals are planning for their Lambos by investing in crypto with their refunds; rather than buying new cars, paying mortgages or even saving for college. Famous stock market strategist and crypto investor, Thomas Lee, was quoted as saying that the markets will revive after the 17th of April and particularly after the American Tax Season.

According to Thomas Lee, Bitcoin (BTC) is on the path to $25,000 by the end of this year and $91,000 by 2020.

In a nutshell, the signs of a resurgent Bitcoin have stated showing in the markets over the past few hours. What remains to be seen, is if the volumes can be maintained for the new crypto prices to be sustained.

TO THE MOON!

[Photo source, steemit.com]