Topic: ASIC will crash litecoin - page 2. (Read 13409 times)

Just randomly passing by. 

Why would they cash out immediately if Litecoin's value is appreciating? 

Obviously they want their site to succeed, so they want to keep Litecoin stable. Dumping coins would be stupid.

Finally, don't they need to keep plenty of coin on hand to pay people (SEO, admins, whatever)?

Here's a potential group of people who will be cashing out their Litecoins the moment they get them - the vendors of the new Atlantis underground LTC market (similar business model as that of Silk Road). I doubt this new market will generate any significant increase in Litecoin demand, at least in the beginning, since there's nothing on Atlantis that one can't buy on Silk Road - so the buyers will be folks who are already holding some amount of litecoins (hey, free drugs and stuff).

However, the fact that there _is_ a Litecoin-based market is definitely good news for this currency. As far as Atlantis' success, I think they will succeed just because of demand for the services they offer. I've checked out the site, the design and functionality are pretty solid, and just a few days after announcement there's already plenty of stuff to order. Who knows how much profit Silk Road has been raking in due to being the only stable underground market - $millions a month?

Now, what will happen if Silk Road decides to add support for litecoins?

P.S. It seems like being some sort of middleman (Mtgox, Silk Road) is the surest way of making big bucks, rather than speculating or mining them 'coins. So I wonder, why aren't any of you guys with 1000's of posts "selling the shovels during gold rush", so to speak? Or are you? You know, that first-to-the-market advantage is helluva thing and there's a _lot_ of cryptocoin-centered services that have yet to be implemented.

So who determines if a rise in a price of something is natural or unnatural?

I guess then bitcoin's rise in price in 2010 and 2011 was unnatural right? Oh wait, none of the arguments against liteoin's appreciation apply to bitcoin, because it was the first right? Isn't that the logic that most BTC supporters that dislike LTC use?

Quoted. Good luck 

and you're saying it was not happening before in any significance

yoodles you're free to make bets and bet in the betsofbitco.in
http://betsofbitco.in/item?id=1321
http://betsofbitco.in/item?id=1322
http://betsofbitco.in/item?id=1305
http://betsofbitco.in/item?id=1297

a lot of those bets should be ended but you get the idea, make your own

420, I can tell by your pots you have a lot of time invested in Ltc. And that you pray it will be rising to the stars and back.

The simple fact is currently all that is funding this PUSH in Litecoins is the flock of miners rushing to Ltc as they are unable to continue to mine Btc efficiently. As well as several people with large amounts of Btc looking to diversify there assets believing that Ltc is going Bullish. (which it most certainly is) This "rise" is unnatural, and not sparked by demand but simply by speculation with no real market liquidity.

Currently the price is holding at the .70 mark, with several large and rapid drops into the .45-.55 range. Ltc is immensely unsteady and the current vigorous fluctuations show this. There is confidence in Ltc to support the current price. Unfortunately it will not last. I don't even give it till the end of the month before dropping down rapidly to .15-.25

Please feel free to quote me on this at the months end.

Are you high? That's exactly how a GPU farm would cause a shortage of LTC, by having a large portion of the network, thus lowering the number of coins going to everyone else...

do you fail to forget the amount of LTC being created stays the same and is adjusted every 2.5 days?

What I don't get is why these GPU miners are keeping the LTC instead of selling them for BTC, as OP predicted, and as I would have guessed.

It looks like a few GPU farms have made the switch to LTC, and so now the LTC that would usually go straight on the market is being held, thus limiting the supply.

This is great as long as they hold them, or sell them very slowly, because once they dump them, it's gonna be a looooong way down for the LTC exchange.

maybe 20% will switch to litecoin

2TH=2GH litecoin mining power. our network is only 2Ghash everyone remember........ MUAHAHAH!!!

2TH of btc miners down, 18TH to go 

forgot to mention.............

ASIC will crash Litecoin to higher than before the great litecoin rally of 2013 

During the last two weeks :

Network hashrate has increased from 400 to 1,800 Gh
LTC has gone from 0.06 to 0.4 USD
LTC has gone from 0.004 to 0.01 BTC.

These are the facts ladies and gentlemen and you can speculate how you wish about them.

I noticed that for a while LTC stayed relatively constant against BTC and concluded that the rally with BTC was dragging up the value of LTC. LTC was riding the coattails of BTC.

Now I note LTC appears to be rallying independantly of BTC. I suspect that, with all the publicity lately surrounding BTC, miners who have a choice between retiring their rigs or mining LTC choosing the later and investors who wished they had speculated on BTC finding out about LTC, this will continue.

No doubt the LTC economy needs to grow, but this growth would have to be a natural progression resulting from an increased number of people involved in that economy. I believe that is what we are seeing now.

Yes, LTC is underdeveloped compared to BTC, however when one considers it's youth, and that it's progression is eased by increasing interest in, and acceptance of BTC, I would say it's not time to write it off just yet.

i have a bid for LTC, its low, and gets close to getting filled every once in a while, I'm hoping to see more GPU mine the shit out of LTC and fill my bid.

how do you feel now adam? holding your ground

Do u want to sell you GPU's to me ...lol...serious lol 

not I

i'll be selling all my stuff and getting out entirely. 

and nogleg will be recommissioned for a different purpose!

less volatile lately; you like?