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Brunic

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Quote from: Litecoin on July 06, 2012, 09:03:13 AM

I really don't get it. "Having a second currency that trades at around 1$ could be useful for cheap transactions. Especially since Litecoin is faster. "
Seriously? Can you not send 0.01BTC instead of 1LTC/USD?

"the price of Bitcoin goes at high level. Maybe levels too high to be a cheap and easy way to transfer money."

So when the price of Litecoin goes up to 10USD we are going to create another currency for cheap and easy transactions?

Guys, I'm just trying to give a possible answer. That's currently the only outcome I can see. I mean, if you enjoy buying 0.00000042 BTC for 10$US, then there's no problem to solve. It's because the two advantages of Litecoin to Bitcoin are:
-Litecoin is cheaper
-Litecoin is faster

I'm only giving an example of a situation where Litecoin could be interesting. It's not my fault if the Litecoin advantages are not more developed than that.

The other possibility I see is that Litecoin could become the first crypto-currency to be backed on another one. Currently, it's not really interesting, but maybe in 10 years from now, the situation will be different. But hey, it's hard to predict, I mean, Bitcoin is a microscopic market right now, and Litecoin is non-existent. Those two currencies still need A LOT of development. If the LTC value is so low, it's because right now, people don't give a lot of value to the LTC advantages.

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: grue on July 06, 2012, 05:20:01 PM

Ja¥1337, why are you acting like a cheerleader for litecoin? seeing that your account has 14 posts, and all of them are pro litecoin, i'm thinking it's a puppet account.

Grue,

Perhaps you are right about Ja¥1337, but I've been around for a while and I'm in support of litecoin.

What's the problem? Unlike pumping and dumping solidcoin because of its developers/bad pr/immaturity, litecoin has a chance if the community chooses it so.

If you don't want to use litecoin, no problem. No one will attack you for that.

Grin

grue

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Ja¥1337, why are you acting like a cheerleader for litecoin? seeing that your account has 14 posts, and all of them are pro litecoin, i'm thinking it's a puppet account.

Litecoin

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Quote from: Brunic on July 06, 2012, 04:08:09 AM

Quote from: Sukrim on July 04, 2012, 04:30:52 AM

I get why I should SELL litecoins... why do people BUY them though?!

It's possible that, with the reward drop and the rarity of Bitcoins that could occur in the next years, the price of Bitcoin goes at high level. Maybe levels too high to be a cheap and easy way to transfer money.

If Bitcoins trades at 75$ in 8 years, Litecoin could effectively become the silver of Bitcoin. Having a second currency that trades at around 1$ could be useful for cheap transactions. Especially since Litecoin is faster.

But, Litecoin is completely dependant on Bitcoin, since it's like Bitcoin but faster and cheaper. Bitcoin is currently fast enough and cheap enough, so Litecoin is not really useful at the moment.

Early Litecoin adopters could be really happy in a couple of years, but it may took a long time until then.

I really don't get it. "Having a second currency that trades at around 1$ could be useful for cheap transactions. Especially since Litecoin is faster. "
Seriously? Can you not send 0.01BTC instead of 1LTC/USD?

"the price of Bitcoin goes at high level. Maybe levels too high to be a cheap and easy way to transfer money."

So when the price of Litecoin goes up to 10USD we are going to create another currency for cheap and easy transactions?

unclescrooge

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Quote from: Brunic on July 06, 2012, 04:08:09 AM

Quote from: Sukrim on July 04, 2012, 04:30:52 AM

I get why I should SELL litecoins... why do people BUY them though?!

It's possible that, with the reward drop and the rarity of Bitcoins that could occur in the next years, the price of Bitcoin goes at high level. Maybe levels too high to be a cheap and easy way to transfer money.

What the fuck?

What's the difference between buying 1 btc for 10 usd or 1 milliBTC for 10 usd?

Euh... okay

Brunic

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Quote from: Sukrim on July 04, 2012, 04:30:52 AM

I get why I should SELL litecoins... why do people BUY them though?!

It's possible that, with the reward drop and the rarity of Bitcoins that could occur in the next years, the price of Bitcoin goes at high level. Maybe levels too high to be a cheap and easy way to transfer money.

If Bitcoins trades at 75$ in 8 years, Litecoin could effectively become the silver of Bitcoin. Having a second currency that trades at around 1$ could be useful for cheap transactions. Especially since Litecoin is faster.

But, Litecoin is completely dependant on Bitcoin, since it's like Bitcoin but faster and cheaper. Bitcoin is currently fast enough and cheap enough, so Litecoin is not really useful at the moment.

Early Litecoin adopters could be really happy in a couple of years, but it may took a long time until then.

Koooooj

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Quote from: Sukrim on July 04, 2012, 04:30:52 AM

I get why I should SELL litecoins... why do people BUY them though?!

http://en.wikipedia.org/wiki/Greater_fool_theory

I'm just going to leave this here

Tittiez

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Quote from: Bitbird on July 05, 2012, 05:11:03 AM

Quote from: Bitcoin Oz on July 04, 2012, 11:31:51 PM

I want/prefer to invest my litecoins in companies theres just no vehicle to do that yet.

I'm willing to set-up a litecoin mining company. Mining litecoin by utility computing can be a sustained model. ASIC is not if not harder, on the other hand. Lack of LTC based exchange indeed presenting as one of the obstacles. A simple P2P exchange might be solved this.

A litecoin mining company would be a very good idea.

Bitbird

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Quote from: Bitcoin Oz on July 04, 2012, 11:31:51 PM

I want/prefer to invest my litecoins in companies theres just no vehicle to do that yet.

I'm willing to set-up a litecoin mining company. Mining litecoin by utility computing can be a sustained model. ASIC is not if not harder, on the other hand. Lack of LTC based exchange indeed presenting as one of the obstacles. A simple P2P exchange might be solved this.

Bitcoin Oz

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Wat

I want/prefer to invest my litecoins in companies theres just no vehicle to do that yet.

tacotime

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Litecoin is ASIC resistant, not GPU resistant. Mostly because you need a lot of fast memory and GPUs usually have the fastest.

Litecoin

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Quote from: LoWang on July 04, 2012, 06:27:22 PM

Quote from: Sukrim on July 04, 2012, 04:30:52 AM

I get why I should SELL litecoins... why do people BUY them though?!

I also don't really get it :-]

They are hoping to buy them dirt cheap, then sit on their coins, dump when the price goes up (1USD/LTC seems to be the dream.) They don't want buy anything.
Newbies investment.
Most poeple were very sad when they heard about the Bitcoin and realized that those "early adopter" days are gone.
Now they are hoping that it will happen to Litecoin.
That's why they buy them.

LoWang

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