Litecoin, in addition to 8 other cryptocurrencies will be accepted for goods and services in Panama, proving that just because a technology is “old” you shouldn’t dismiss it.

Panama just announced it will accept Litecoin amongst other cryptocurrencies for payments of goods and services pending acceptance of their draft bill.

Other cryptocurrencies to be accepted are IOTA and XRP. Yes cryptos that this sub considers “dead coins” and instantly dismisses because they are not trendy.

Panama accepting old coins highlights a couple of things. Firstly in the race for adoption countries and institutions will be looking at chains that are SECURE and trusted, with low transaction fees. Older chains have the advantage of being around for a long time, so they are already tried and tested. Litecoin for example has had 100 percent uptime for 10 years straight. That’s a pretty decent achievement.

Secondly it goes to show you shouldn’t instantly dismiss an “old” coin on the basis it is old and not trendy on this sub. It would pay for you to assess each coin on its merits and not always DCA into the trendiest coin (looking at you apecoin).

So in summary, with crypto transitioning from a SPECULATIVE market to a USE CASE market, it might pay to look again at older technologies that are tried and tested. They may be the darkhorses that make you alot of money.

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34 thoughts on “Litecoin, in addition to 8 other cryptocurrencies will be accepted for goods and services in Panama, proving that just because a technology is “old” you shouldn’t dismiss it.”

  1. Bullish on Litecoin… wait, I was always bullish on Litecoin!

    P.s., in case anyone was, like me, wondering what the eight are, it’s: Bitcoin, Ethereum, XRP, Litecoin, XDC Network, Elrond, Stellar, IOTA and Algorand.

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  2. Well done Panama. I was actually discussing the other day how most countries seems to be afraid of adoption alts – good to break down that fear early.

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  3. >Litecoin for example has had 100 percent uptime for 10 years straight

    Litecoin is like that good old homie, working silently and always there

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  4. This is huge. I thought only Bitcoin would be accepted in a bunch of countries but this could set a precedent of adopting crypto as a whole

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  5. I absolutely agree with you. LTC and IOTA both do not get the attention I think they should get as solid projects. I look forward to Panamas first experience after a few months

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  6. Why XDC though?

    It’s blockchain is so isolated from everything else. It’s barely present on exchanges and the bridges and swaps available for it are trash. Someone in the Panamanian government probably has a big bag.

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  7. The thing about all these trendy new coins is that there can be big gains, but what are the odds they will still be around in 5 years? I prefer investing a little into the new things and a little into the old heads. LTC and others have staying power, we’ve seen them pump over and over again through the years.

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  8. XRP, dead? You mean the crypto backed by a 15 billion dollar company waiting to IPO, and payment corridors using XRP all over the world. Do you know the daily transaction volume using XRP each day?

    If you think xrp is dead, you don’t know you ass from your elbow man. I pity the fool that doesn’t have a bag of xrp going into 2023. The lawsuit outcome is going to create the biggest single green candle this space has seen in a decade.

    The fate of the crypto space in America depends on XRP, it is one of the most important legacy OG coins in this space right now. They lose, the SEC will be chopping down your favorite projects one by one.

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  9. Yeah but it’s down more than 90% against eth since the beginning. So what if it’s being accepted as a payment form. Most of the companies are just going to either change it to fiat or currencies/crypto they think would perform better from an investment point of view. They are likely just adding more cryptos to increase the volume of people purchasing.

    Downvote away.

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  10. Proving it’s worth through out the test of times. Plus it holds it worth compare to the other ” fast and almost feeless” coins.

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  11. What even is apecoin. I take some time off from the exchanges, next thing I know it’s listed on every fucking exchange ahead of many other projects with a lot more utility.

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