February 5, 20186min1131

HUGE Litecoin announcement LitePay to launch in days!

LITECOIN, one of the world’s leading crypto-currencies created by former Google employee Charlie Lee, has announced LitePay just before Christmas. But we expect the actual launch of the product this week. This could be a major mover advantage for Litecoin as Bitcoin transactions are becoming painfully high.

After the painful drop in the market, wicht impacted the Litecoin as well, from December record hights $370 to the lowest point in January of $108. Litecoin according to Coinmarketcap community is convinced that a new payment processor called LitePay will send the price soaring. LitePay will bridge the gap between the cryptocurrency market and the everyday consumer. It will allow businesses to accept payment in Litecoin from anywhere on earth. Transactions will be super-fast and allow customers to pay for products and services in dollars with no transaction charges. A Litecoin wallet will also be available for all major mobile and desktop browsers and instant withdrawals from VISA compatible ATMs and spend with any VISA merchant will be possible.

Palwasha Saaim, a Research Analyst at Lombardi Financial, called LitePay a ‘game-changer for Litecoin’. She added: “It would allow businesses to accept Litecoin without worrying about price volatility. “Payments would be processed by LitePay instantaneously and settled directly with their banks.“Take note that BitPay is currently charging about $5.00 transaction fees for processing Bitcoin transactions that take ages to confirm.“The best part is that Litecoin users will be able to convert Litecoins to dollars and vice versa through their Visa-compatible LitePay cards, which will be usable at all ATMs or businesses that support Visa payments.”

Payments would be processed by LitePay instantaneously and settled directly with their banks. Take note that BitPay is currently charging about $5.00 transaction fees for processing Bitcoin transactions that take ages to confirm.

Palwasha Saaim

Another game changer would be if rumors spreading about whether Facebook would either adopt Litecoin or create its own cryptocurrency, would turn out to be true. Yesterday, Facebook announced that it would block all cryptocurrency and ICO advertising on its platform. Coincidence?

Charlie Lee, the founder of Litecoin announced that he sold off all of his LTC three days after it declined from an all-time high. Since then, Litecoin has been on a mostly downward trend and currently sits at $131.36. There has been some speculation about whether Lee’s sell-off had an impact on the prices of Litecoin. There have even been accusations of insider trading, given that he was the Director of Engineering at Coinbase. He denies these allegations. He explained that his decision to dump his LTC was to remove any sort of conflict of interest between his influence and any potential gains. Taking the financial gains out of the equation, it stands to reason that Lee may now tweet more freely about his thoughts while focusing on his skills as an engineer.

At the time that Lee sold off his LTC, Coinbase announced the appointment of a Facebook executive, David Marcus to their board of directors. David Marcus is the Head of Messenger at Facebook, with expertise in mobile-first products. Prior to that, he was President of PayPal, where he accelerated the overall growth of the company. The appointment of Marcus to the Coinbase board of directors sparked some speculation amongst the community.

Litecoin is lighter, faster and cheaper than Bitcoin. It is fully capable of smart contracts. It has a payment processing layer to facilitate point-of-sale convenience while retaining proof-of-work security. It has the sort of technology built into it that an organization like Facebook might find appealing.

Mark Zuckerberg announced on 5th January that he’s “looking into cryptocurrency.”

Every year I take on a personal challenge to learn something new. I've visited every US state, run 365 miles, built an…

Objavil/a Mark Zuckerberg dne Četrtek, 04. januar 2018

From last week Facebook is banning all ads that promote cryptocurrencies, including bitcoin. This is an effort to prevent people from advertising what the company is calling ‘financial products and services frequently associated with misleading or deceptive promotional practices.'”
This could very well be a swipe of competition before the grand announcement of their own currency of choice. They could push it out to masses using the most powerful advertinsing tool known to men.

Charlie Lee previously tweeted that in 2018 there will be “One huge unexpected surprise.”

This is merely speculation, based on recent events on the market. Only the future will tell if we connected the dots right.

 


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