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7 December 2023
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Litecoin (LTC) Influenced by PayPal Talks Brewing about To Velvet or not to Velvet Fork

For people who are new to crypto buying Litecoin (LTC) from PayPal can feel very easy. However, you might not be able to withdraw it yet. Anyone who are buying LTC or any other crypto from PayPal with a hope to transact it to a hardware wallet should beware that it will not be possible for now.

PayPal have now done something that will help educate the masses about Bitcoin, Litecoin and other kind of cryptocurrencies. Crypto awareness is simply getting better.

The good news for Litecoin is that there are 346 million users for PayPal.  Also, the government of Venezuela are permitting only Bitcoin and Litecoin for remittances.  And, these are powerful use cases for Litecoin.

Litecoin is expected to surge after customers know they can buy, sell, and hold LTC through PayPal. Litecoin is getting influenced by PayPal in a huge way.  The following days are expected to be very interesting.

There is no idea as to assessing the LTC traffic for PayPal; however, it just feels like the whole community is getting coerced to think and feel act in a particular way.

Some people are calling Litecoin dead when in reality it is holding strong in terms of the top 10 fundamentals, which has never changed.  It has only gotten stronger. New addresses, Grayscale accumulating and about to flip BCH, PayPal addition, MimbleWimble, 100% uptime Decentralized, transparent, fast, POW, and these are indeed good points.

For those who do not know, Litecoin is one of the 4 cryptocurrencies considered to be legal in Malaysia. Ease of access of LTC is recipe for improving adoption.

In the past Charlie Lee stated, “It takes forever to get anything implemented on Bitcoin because consensus is slow.  With Litecoin if we want to do something we can move pretty fast on it.”

In this regard, Sina Estavi, CEO of Bridge Oracle tweeted:  “Litecoin are building their reputation slowly and steadily as in the past Charlie Lee stated they do not believe in building fast and breaking fast.”

Litecoin (LTC) and Cardano (ADA) Velvet Fork

David Schwartz tweeted:  “8 days away from what is hopefully an educational discussion regarding what a velvet fork is, what is NiPoPoWs, and is there a benefit to Litecoin and if indeed it is something that should be added. Come join us Nov 17th on HUB through the link below!”

Litecoin probably are going to work with Cardano on the “Velvet Fork.”  It is expected for this fork to add lot of features like cross-chain fund settlement, improving smart contracts and scalability. It is not clear as to Litecoin will consider to move ahead with these options – To Velvet or not to Velvet Fork!

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