All You Need To Know About Bitcoin!

LITECOIN CO-FOUNDER PREDICTS DOOM IN AUGUST, LTC DOWN 14.5%

According to the official Litecoin announcement on Medium, the 60 millionth Litecoin was issued at block No. 1,560,000, which is approximately 71.5% of the total market capitalization of 84 million.

Before the so-called halfing, during which the block reward is halved, it remains to get another 3 million Litecoin. Thus, the block reward from 25 LTC will be reduced to 12.5 LTC.

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The decrease is expected to occur in August 2019, when about 75% of the total Litecoin supply on the market will be mined:

“The half-up is supposed to take place closer to August 2019. At the current interest rate, it takes about 70 days to bring 1 million into circulation, after a decrease in the figure by half, this time will double to ~ 140. “

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According to Litecoin, the last coin will be mined in 2142. Mathematical calculations show that by the time the last LTC is mined, the block reward will be 0.00000042.

In 2018, the Litecoin Lightning Network became a real salvation for its network because it provided fast transactions and scalability.

2019 promises to be very promising for Litecoin. During the first week of January, Binance TrustWallet added support for Litecoin and Bitcoin, which will facilitate the adoption of cryptocurrencies.

In addition, the company reported significant growth in its network, receiving more than 100 active nodes. Since equipment is expensive and electricity is an additional cost, there should be a way to encourage the masses to participate. Within Litecoin and, like Bitcoin, successful miners with excellent equipment, who spend most of their computing power, receive 25 LTC for each successful block.

However, in less than a month, this amount will be halved to LTC 12.5. For an ordinary investor, LTC is likely to grow. Nevertheless, there is a realization that, despite optimism, the dynamics of supply and demand may have LTC value next month.

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