What is Litecoin
What is Litecoin? A Basic Beginners Guide. Litecoin has taken the world by storm.
Consider this: The price of litecoin has increased by 7,291% from the beginning of 2017! In comparison, bitcoin “only” increased by 1731%.
The Origins Of Litecoin
While the identity of the Bitcoin creator Satoshi Nakamoto is shrouded in mystery, Litecoin’s creator Charlie Lee is very active on social media and his blog. Charlie Lee is an ex-Google employee who had the vision to create a lighter version of Bitcoin.
While Bitcoin was seen as “gold” and a store of value for long-term purposes, Litecoin was seen as the “silver” and a means of a transaction for cheaper and everyday purposes. So, on October 7 2011, litecoin was released via an open-source client on GitHub. The Litecoin Network went live on October 13 2011. It is basically a fork of the Bitcoin Core client.
Ethereum Price Chart Australian Dollar (ETH/AUD)
Ethereum price for today is A$1,156.5995. It has a current circulating supply of 97.6 Million coins and a total volume exchanged of A$2,318,364,735
Bitcoin is much more expensive than gold to store with a third-party custodial service, but there’s a good reason for that discrepancy.On Monday, the Motley Fool published an article analyzing how the cost of storing physical gold bars compares to storing bitcoin — the new “digital gold” with a third-party custodial service. Noting that the SPDR Gold Trust pays approximately 0.08 percent of the value of its gold for storage and custody, the publication found it “mind-blowing” that bitcoin custodial services such as Coinbase Custody charge 15 times more.As CCN has reported, Coinbase Custody — a regulated storage service targeted to institutional investors making minimum deposits of $10 million — expects to charge a $100,000 setup fee and a 10 basis point (0.10 percent) fee per month on the value of client assets after it launches in 2018.
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