We’ve never followed a cryptocurrency on Twitter before, so we thought it might be both fun and interesting to see what those involved with Litecoin had to say, and particularly what they consider to be the real ‘news’ for investors and casual enthusiasts alike.
Having just had its sixth birthday, Litecoin has often been described as silver in comparison to the ‘gold’ of Bitcoin, and suffered (along with Ethereum) from Bitcoin’s hard fork earlier this year. At the time of writing, the value is reasonably steady around $55, and enthusiasts don’t doubt that it will rise again.
Charlie Lee (@SatoshiLite) is the creator of Litecoin, and well worth a follow if you don’t already. He engages with supporters and skeptics alike, and if anyone has their finger on the pulse of cryptocurrency developments, it’s him. He’s not just all things Litecoin either – as he says himself, “my interests are in crypto”. At the (exact) time of writing, Litecoin was enjoying something of a mini-surge, and, as one tweeter commented, “Don’t look now, but #litecoin having a better hour than #bitcoin”. This was almost certainly due to South Korean exchange, Coinone, adding Litecoin to its platform, and experiencing something like $3.2 million worth of transactions within the first 24 hours of trading.
It seems to be Litecoin’s month all round, with one user noting that over $160k of Litecoin had been purchased using LoafWallet in the past few weeks. The usual warnings about using the app on jailbroken iOS devices were thrown around, and they’re worth noting. If you want to know more about app security, have a read here.
In addition to Charlie Lee and @litecoin, the other account you need to be following is @LiteCoinNews. Again, the news isn’t just geared towards Litecoin, with plenty of tweeted and retweeted general cryptocurrency news.
What will you gain (or lose!) from following cryptocurrency accounts on Twitter?
If you don’t already have a Twitter account, a) where have you been? And b) it’s the best thing you can do to help you keep on top of cryptocurrency trends and breaking news. If you’re considering investing, it’s also a good way to see what other enthusiasts and like-minded people are doing, and where the money seems to be heading. However, the busier Twitter gets, the more noise there is, and the easier it is for crucial information to be lost. If you have particular areas of interest, it might be worth following individual hashtags for your chosen currency or currencies of interest and viewing these in conjunction with news alerts. Social media managers will also enable you to select keywords to keep you informed about particular aspects of cryptocurrency in general and Litecoin in particular.
It’s easy for following news on Twitter to become a full-time job if you’re not careful, but the best thing about being limited to 140 characters is that you can separate out useful information quickly.