If you are a user of social media, specifically Twitter, you may very well be aware of the hash tag #PayWithLitecoin.
If you’re not a user of social media, and have no idea what a hash tag is, take a look at this guide on Twitter- https://help.twitter.com/en/using-twitter/how-to-use-hashtags
If that is the case, I’m quite impressed that you’ve made it this far and are delving deep into the crypto-sphere, without knowing what a hash tag is.
So, #PayWithLitecoin is a hash tag associated with a movement, designed to encourage people to pay for things with Litecoin. The movement encourages both business owners to start accepting Litecoin, but also encourages users to find businesses that take Litecoin payments. In turn, both sides can contribute to Litecoin investment. What we want to know is, is this a serious movement with real implications for Litecoin adoption? Or, is this just a cult, a clique, established to giver Litecoin users a sense of community online?
Finally got the shirt in and ready to have some fun…
— Łitecoin Yeti [LTC] (@LtcYeti) May 5, 2018
These tweets are just a few examples of the sort of media that follows the #PayWithLitecoin movement. From this, you can see how different elements are injected into the messaging, be that humour or actual fact, above all though the final take home message is pretty clear, these people want you to invest in Litecoin, to spend it in real life.
Brick and Mortar Litecoin payments are all small moves towards cryptocurrency adoption, #PayWithLitecoin are driving this idea forward through the use of social media. By spreading messages of where Litecoin can be spent and by creating documents that detail how Litecoin can be spent, the movement looks to be providing advice to a non-technical audience, suggesting that overall, this is something with real implications, that could make a difference.
Let’s remember this however, if more people spend Litecoin, more people will need to invest in it. #PayWithLitecoin could parade as an open community designed to give people fair access to a growing currency but, behind the mask, if could all just be a plot to help boost the value of Litecoin, its not a pump and dump, but it does allow some investors to behave in this way, if they so choose to do so.
Moreover, some #PayWithLitecoin messages are clearly designed to just attract media attention with some even resonating sounds of a scam.
So, to answer my initial question, is it a cult, or is it a real game changer, we can’t tell yet.
The messages produced by #PayWithLitecoin can be seen as positive and indeed, there are a lot of people within this who want to introduce Litecoin to the masses, for the benefit of society and not just themselves. Others however do seem to be operating within this as a selfish entity, noticing that by jumping on the back of #PayWithLitecoin, they could make some serious cash.
Our advice, if you are drawn in by #PayWithLitecoin messages, do your research first, don’t buy in because somebody posted a picture of your favourite coffee shop stating they now accept Litecoin payments, buy in because you want to and because you recognise that you could benefit from it. Stay safe and do your own research, #PayWithLitecoin can be both risky and advantageous.