The 7th Anniversary of Litecoin


On October 13th, Litecoin celebrates the 7th anniversary of its launch. Given this major accomplishment, we can safely say that Charlie Lee’s digital silver project is the longest-running and most time-tested altcoin of all time.

Unlike Namecoin, Peercoin, Devcoin, Novacoin and Terracoin (all of which are basically abandoned and obscure by now), Litecoin continues to maintain its relevance on the market by positioning itself at the avant-garde of merchant adoption. One of the big reasons why this happened was the invention of Satoshi Lite’s vision: Instead of competing with Bitcoin and trying to prove a relative technological superiority, Litecoin acts as a supportive little brother (or, as visually presented by Charlie Lee, a Vegeta to Bitcoin’s Goku).

Has anyone heard of these cryptos lately? Image: CoinMarketCap

As presented in the previous article, “Litecoin: The good, the bad, the FUD”, there’s a lot of good news coming out from Litecoin. Merchant adoption is happening at a rapid rate thanks to the help of volunteers, companies like Abra choose to run smart contracts that are based on digital silver, and the Litecoin Foundation is autonomously spearheading institutional integration through the acquisition of 10% of a German bank.

Technologically-wise, Litecoin has implemented SegWit months before Bitcoin and serves as one of the two major platforms for the Lightning Network. And when it comes to exchanges, LTC is featured on more markets than Ethereum, XRP, Bitcoin Cash, or any other altcoin in existence. Even Gemini made the addition of Litecoin as a way of bringing the exchange listing odyssey to a satisfying conclusion.

There’s a lot to be said about the merits of Charlie Lee and his team of enthusiastic developers. However, this article is dedicated to those who really change the rules of the game and constantly push cryptocurrency projects to new limits: the community members.

In the absence of user support, any computer science is mere vaporware . Betamax was technically-superior, but it was the popularity of VHS which dictated the market standard. Likewise, a simple improvement of the Bitcoin protocol like Litecoin manages to stay ahead of more advanced competitors like DigiByte or Zcash thanks to its comprehensive approach, easy integration, and growing popularity among users and merchants.

For the reasons enumerated, the rest of the article will focus on some notable community members of Litecoin. The efforts of this decentralized assembly are remarkable and can be taken as examples for other cryptocurrency advocates.

Volunteer #1: Jon Moore, VP of Nationwide Merchant Solutions

If you’re thinking of grassroots movements and advocacy among traditional merchants, then very few individuals in crypto have managed to accomplish as much as Jon Moore did. As he suggested during his panel at the Litecoin Conference, he’s built a career in the field of payment processing and has dealt with credit card companies and banks for most of his professional life. What he saw in Litecoin was a quick, easily-comprehensive, and accessible payments technology which filled in the gaps on institutional actors.

Mr. Moore was initially drawn by the transparency of the transactions —which provide information that banks selectively and rarely disclose — and the quickness of the validation process. Seeing the value of this new way of payment, he began to walk around New Jersey and present this “new and better form of money” to business owners. He’s helped waiters receive instant crypto tips with a QR code, he’s helped baby boomers understand how a simple application like LoafWallet can be in sending and receiving payments, and perhaps his biggest merit involves tweaking Clover POS machines so that millions of merchants around the USA can accept both Bitcoin and Litecoin.

This is exactly the kind of contribution that Satoshi himself would hold in high regard, as he’s spreading the word among everyday people who definitely don’t have the luxury to browse through Bitcointalk.org threads or read illuminating posts on CryptoTwitter. Jon Moore is bringing crypto payments closer to small businesses and is spreading adoption among those who need Bitcoin and Litecoin the most. It’s thanks to efforts like these that trading volumes keep on increasing and the liquidity of coins increases in time, as the speculative investment quality fades and gets replaced by the idea that cryptocurrencies are money for everyday use.

When contacted to comment about his involvement, Jon Moore (whom you can follow on Twitter @jonnylitecoin) has told Crypto Insider the following:

Litecoin is a better form of money and a better form of payment than the current financial and payment system. Most businesses don’t understand the importance of accepting LTC for payment and I try and educate as many merchants as possible to understand that this is a secure payment method and is a tool they should use to their advantage. Accepting Litecoin for Payments is much different than investing in LTC and the two things should never be confused.

Volunteer #2: John Kim, the evangelist

John Kim is one of these folks who develop their passion into the kind of obsession which radically changes their lifestyle. If you follow him on Twitter (@Johnkim77 ), you will notice how energetic and positive he is about Litecoin and its potential to change the way payments are made. The idea which he advocates for is that Bitcoin is the digital gold which is better held as a store of value, while Litecoin is the complimentary silver whose liquidity is greatly beneficial in payments.

Mr. Kim is the kind of person who posts daily videos about his passion to spread the technology, and he would bring Litecoin in every conversation that he’s having with anybody, regardless of context. As a way of proving his commitment to the cryptocurrency project, John Kim has gone on a 44-day tour across the USA to meet and talk potential costumers and investors. Travelling 10.000 miles to promote Litecoin is definitely a notable and impressive accomplishment, and his passion and energy show no sign of exhaustion. Are you curious to test his passion? Just follow the #LTC30FOR30 hashtag on Twitter.

John Kim has been contacted to talk about his involvement, and said to Crypto Insider the following:

As a Litecoin Evangelist my mission is to spread awareness and push for adoption by igniting the fire in each member of our community. I believe a small spark can start a movement which can turn into a wildfire that can’t be contained. By helping people and businesses download the loafwallet and experiencing Litecoin transactions first hand, i let Litecoin and blockchain Technology speak for itself. An experience in receiving and sending Litecoin turns into questions and a natural dialogue happens. This way the explanation of the blockchain technology and the problems of our current broken monetary system can be told in a way that’s not forced and the experience of transaction leaves a deeper impression on them. I believe we have a great product and like Apple the users need to experience the product first hand in order for them to be open to the new technology.

Volunteer #3: Dan, the broadcaster

Realistically speaking, you can’t possibly have a rapid form of internet money without promotion in its native environment. This is where Dan, the most prolific and followed Litecoin broadcaster, comes into play by offering his expertise in digital media to the crypto cause. If anything new happens to the LTC project and you want to follow it in a video format on YouTube or Dtube, the most likely scenario involves finding the news first on Dan’s channels.

Furthermore, Dan (also known under the project name Crypto Capital Venture) likes to explore the field of technical analysis. Many of his videos include price predictions, and his following amounts to about 5000 subscribers. Every now and then, he receives the privilege of exclusively interviewing Litecoin founder Charlie Lee in order to deliver more information, and his energetic efforts don’t show any signs of stopping. Dan is an integral part of the LTC community and helps complete the circle of volunteers in a professional and competitive way.

Dan, the man behind Crypto Capital Venture (and @Cryptorecruitr on Twitter), has been contacted to comment on his involvement. Exclusively for Crypto Insider, he made the following statement:

When I began assisting Litecoin, it was mainly in putting their YouTube channel live and getting content out there to grow the Litecoin YouTube footprint. I am pretty excited that within a pretty short time frame the channel has almost 5k subscribers and growing.

Besides that, I like to think that my own platform at Crypto Capital Venture is something I use as an ambassador for Litecoin. We cover Litecoin almost daily and continue to round up an army of pretty loyal Litecoin enthusiasts. I can’t discount the work that my wife Sarah has done as well! She was the first person people would see when walking into the Litecoin Summit and she did an amazing job in holding down the front desk area at the 1st ever Litecoin Summit. I am proud of here! Thanks Vlad. God Bless!

 

Volunteer #4: ecurrencyhodler, the pseudonymous educator  and community manager

If you ever post a question on r/litecoin, it’s very likely that the first response you receive comes from the enthusiastic ecurrencyhodler (who likes to be called E). If you ever need to learn or understand how Litecoin works, it’s very likely that your search engine research will lead you to the Litecoin School of Crypto. That’s the power of E within the community, and his contributions are responsible for a constant inflow of enthusiasts and community members.

A cryptocurrency project can’t possibly exist without proper education about the technology. It’s only through clear and easily-comprehensive information that a technology can be spread among the masses, and that’s exactly what ecurrencyhodler does. The website of The Litecoin School of Crypto is a grassroots movement in itself, features explanation articles about some of the most fundamental aspects (wallets, nodes, addresses, how transactions work, LTC denominations, et al). The main information has been translated in seven other languages (Catalan, Polish, French, Chinese, Dutch, Russian, and Spanish), and as the community grows there will definitely be more efforts to make education accessible to the masses.

Ecurrencyhodler is the Andreas Antonopoulos of the Litecoin family, and his expertise in the field has helped him write his first book: “Understanding Litecoin: The Digital Currency for Payments” (which is available for sale on the Litecoin Foundation website and has been reviewed by me in a previous article). Just like his predecessors, the pseudonymous E keeps on expressing his passion for the digital silver project and seems to develop other complimentary ventures: he has helped organize the recent Litecoin Conference from San Francisco and also works as COO of Blockfuse (an open-source project that’s meant to provide support to new Bitcoin and Litecoin developers).

When contacted to comment on his involvement, ecurrencyhodler (whom you can follow on Twitter here) told Crypto Insider the following:

I’m involved in a lot of different ways. I volunteer at the Litecoin Foundation. My most recent project was to help organize the Litecoin Summit which was an incredible experience. I also am a moderator of r/litecoin where I have the pleasure of banning trolls and scammers from our community. I also decided to create The Litecoin School of Crypto. I saw a huge need in the Litecoin community for educational content that was easy to understand. So I decided to fill that with articles the best I could.Finally, I am the COO of BlockFuse. We make Bitcoin and Litecoin app development easy through CoinMesh, our open-source platform. Our goal is to foster a great dev community for builders and also make tooling more accessible for people so they can get started quicker.

 

Volunteer #5: Rob D, the weekly LTC lottery organizer

Cryptocurrency lotteries are a great way of engaging the community in a thrilling game while proving to everyone else how quick, cheap and efficient transactions can be. Rob D is one of the individuals who really understood the necessity of demonstrating the liquidity of Litecoin, so he invented a weekly lottery game which brings together enthusiasts from all over the world.

The premise is rather simple: you send the LTC equivalent of $2 to a given address, confirm your entry on a Twitter thread, and then wait for the draw in order to see if you’re the lucky winner. Through the system is fundamentally a “winner takes all” scheme, Rob D also gives away special prizes from sponsors who produce merchandise or crypto-related beverages.

If every other volunteer presented in the article aims to attract people from outside the crypto community in order to increase adoption, Rob D is focused on existing members and keeping them together with a simple game of chance. It’s also a great way to increase the trading volume and attract the attention of advocates of other cryptocurrencies who might be looking to make new friends. The transacted sums appear to be small, but the jackpot keeps on increasing on a weekly basis, given the increasing interest in this lottery. And as long as Litecoin remains quick and liquid, while governments don’t regulate this type of games, there is no sign that this project may stop any time soon.

Rob D (whom you can follow on Twitter @BoilingPointLLC) has been contacted to talk about his involvement and said to Crypto Insider the following:

I guess the ultimate goal would be to build something that brings the Litecoin community even closer together and to help strengthen the network by adding hundreds and possibly even thousands of transactions. I feel like we are already a pretty tight-knit group, but by adding this it brings a whole new level of fun and excitement, especially in down times like the bear market of 2018. […] We’re truly in this thing together and that’s what Litecoin lottery is all about. That’s why we spin the wheel, it symbolizes every aspect of the community, and together as a whole, it creates greatness.

Volunteer #6: Brian Haggerty, the traditional educator and public speaker

In many ways, Brian Haggerty is complementary to all the other community members. His background in mainstream politics may be anathema to the anarchistic spirit of cryptocurrencies, but his communication skills and experience in advocacy bring the type of prestige that sometimes this fresh and blooming industry lacks. Outside Litecoin, Mr. Haggerty is an accomplished author who wrote the book “How to be a Successful Politician: The Ultimate Guide for New and Seasoned Politicos“. Inside the Litecoin community, he may be the only person who possesses the ability to make a successful speech according to the textbook rules of oratory. He is also responsible for a catchy baritone rendition of the “Happy birthday” song, which he dedicated to Litecoin:

While other volunteers have discovered their vocation within the community along the way and have taken steps towards polishing their skills in order to better serve it, Brian Haggerty has already brought all the required abilities for successful advocacy. He likes to participate in local events and talk about the virtues of Bitcoin and Litecoin in front of live audiences, and his contributions are highly appreciated and esteemed within the community.

Mr. Haggerty (@BHSpeaks on Twitter) has been reached to comment on his involvement, and he told to Crypto Insider the following:

Being an educator, I realized that the biggest problem was that 99% of the population does not understand Bitcoin. So, I set out last year to host local Bitcoin educational talks. And being a lover of Litecoin, I of course teach people about Litecoin, too. When the markets cooled, the number of people who would show up dropped off. In fact, now I am lucky to get 3 people! So, I stopped doing the talks (for now) and started to assist with Litecoin adoption and acceptance locally. Of course, once the markets return, so will the people who want to know about Bitcoin.

 

 

 


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