“By maintaining full compatibility with the Bitcoin API, Litecoin is very easy to integrate into existing applications that already offer Bitcoin support. One of the main advantages offered by the Litecoin network is faster transaction confirmation, making it ideal for small-size purchases. If you are a developer using Bitcoin, it is extremely easy to enable support for Litecoin transactions. If you are a merchant, you can easily integrate Litecoin into your web site or application using existing 3rd party shopping cart plugins.”Litecoin is easy to buy, handle and spend, therefore #PayWithLitecoin was already going to be a success. We have to ask, is #PayWithLitecoin fair? Of course, we can’t forget that #PayWithLitecoin is nothing more than a marketing technique employed by the Litecoin Foundation to market and make Litecoin more attractive. We have to ask if this is fair because it’s actually masquerading as an organic sentiment and not as an advertisement. What I mean by this is that #PayWithLitecoin looks like something that has been developed by a community organically, a community that do believe paying with Litecoin is the future. It’s as if the general public are doing Litecoin a favour. In reality though, it’s just an advertisement, one that has been initiated and facilitated by the Litecoin Foundation. This isn’t necessarily a bad thing, but it could be considered as deceitful to those who consider advertising to be a threat. Remember, back in May, #PayWithLitecoin inspired around 137,000 new companies to start accepting Litecoin, something that can only help bolster the value of Litecoin and benefit the company. This was encouraged through a partnership between Aliant and iPayment, working alongside the Litecoin network. As a matter of fact, we covered the story, during which, Robert Johnson states:
“The integration of Aliant, into the iPayment system now means that all of iPayment’s customers will have the option to start accepting Bitcoin and Litecoin payments. Moreover, in choosing to do so, the businesses at hand will have very little to change. It seems that within this, Aliant will provide all equipment needed to accept such payments and the facilitation of the payments will be carried out between iPayment and Aliant. Essentially, this is going to provide 137,000 businesses with a brand new, win-win situation. Moreover, the organic marketing potential of #PaywithLitecoin will ensure that these businesses receive a decent amount of online attention, should they choose to add Bitcoin and Litecoin to their payment options.”So finally, what is the point in #PayWithLitecoin? The point, is to act as a vehicle for social change. To make cryptocurrency payments more accessible and to inspire more merchants to jump on the crypto train. As a part of this, another motive exists within the Litecoin Foundation and that is to protect their asset and to protect their business model, making it a more adoptable cryptocurrency for the future. This isn’t a bad thing, but it is worth thinking about. Next time you #PayWithLitecoin, remember that you’re encouraging other to do the same.