Bitcoin vs Litecoin is scheduled for August 1st
August 1st, 2017 might be THE day to watch this year. Not only it’s a big day for Bitcoin (#1), but also for Litecoin (#3).
The fear of split
According to cryptocurrency annalists, Litecoin’s day could happen as soon as August 1st. On that day, Bitcoin transactions will be temporarily stopped at many major exchanges. Even Coinbase said they’re not supporting the new Bitcoin blockchain (read here). Why? Simply because Bitcoin might be splitting.
Meanwhile, LTC seems to be unconcerned about the current all these Bitcoin news. LTC has been holding its value like nothing is happening while every cryptocurrency, Ethereum included crashed. As a result, the cryptocurrency community is considering Litecoin to be the new number.
King for how long?
Litecoin is expected to become the be the go-to cryptocurrency on August 1st. This could last only for a couple of hours if investors are confident enough to trade Bitcoins again OR it could last forever if a BTC split occurs.
Litecoin it is then…
If you’re unsure about your Bitcoin assets, LTC will be one to turn to before the upcoming storm of August 1st, 2017. In fact, Bitcoin.org has already issued a warning in regards to potential disruptions.
Starting at approximately Sat Jul 22 2017 17:00:00 GMT-0700 (PDT), Bitcoin confirmation scores may become less reliable than normal for a period of up to a month.
Users are advised to wait for more confirmations than they usually would before accepting any payment as final. Bitcoin.org’s usual recommendation during network disruption is to wait for 30 confirmations.
There will be some interesting trends for everyone to stay focused on the first week of August. It is fair to say that Litecoin will have a chance to shine during Bitcoin’s blackout and even after.
Will LTC give Bitcoin some major competition? It’s too early to tell but something is for sure: Winter is coming.