This is a humorous YouTube segment ("Altcoin of the Week") discussing Litecoin: its origins (forked from Bitcoin, launched October 2011), technical differences (shorter 2.5-minute block time, higher max supply), notable price activity (November 2017 spike to ~$370, a 100% 24-hour rise), and the then-new Litepay service promising Visa-merchant payments with instant settlement. The host frames Litecoin as a sober, dependable counterpart to Bitcoin and notes market metrics (circa the video: price around $150, market cap ~ $8B).
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Our Altcoin of the Week this week is Litecoin. Why is Litecoin our Altcoin of the Week? Because the best parties are always on the back of a bandwagon. And at this particular party, Litecoin is that sober guy standing in the corner. Bitcoin started the party. Of course, he's passed out on the couch right now. What the people keep drawing on his face and telling stories about one time when they were all so high and Bitcoin crashed so hard that everybody thought he was dead. But Litecoin just sits in the corner and yawns. He has been at this party for years. He's seen Bitcoin get up and wreck the place before passing out into near deathlike coma at least a dozen times. He's been there through all of it. Bitcoin's adopted brother. Or as Bitcoin sometimes says when he's really tanked, you're the silver to my gold, man. You're the silver to my gold. I love you, man. In November 2017, Litecoin threw a party of his own and it wasn't half bad. Its price went up 100% in the span of 24 hours. Eventually got all the way to $370 before settling back down. He went through a bit of a slump after that after his father, Charlie Lee, kicked him out. It's for your own good, he told Litecoin. You can't find success riding on my coattails, but I'll always be there for you. It was a tender moment that many people with abandonment issues seem to have a hard time coming to grips with. Okay. Litecoin was born October of 2011. As a fork of Bitcoin, it has a decreased block generation of 2.5 minutes and an increase in the max supply of coins. There are also a number of other differences, with the main idea being speed. Where Bitcoin has evolved into a store of value, Litecoin still aims to be the peer to peer digital currency. And guess what? That's exactly what Litecoin has plans to do. It recently announced Litepay, which will allow Litecoin to be used as a form of payment with any Visa merchant anywhere in the world. Not only this, it claims to allow businesses to accept Litecoin without being concerned with market volatility and the payments will be instantaneously settled with their banks in the calm before the storm. Litecoin sits around $150 with a market cap of almost 8 billion. If LitePay pulls this off, it may just bring up a very important issue. Maybe that sober guy in the corner of the room has something more interesting to say than the guy whose pants keep falling down. Or maybe he's a psychopath waiting for the right moment to snuff out the host with a pill. Your future music in the Rock to it. Reaching my threshold.
