Topic: Can Litecoin hold the #2 spot? Doubtful..and here are the coins who will benefit - page 18. (Read 17814 times)

LOL EL Dude!!!!

In that case I predict that in 6months you will buy ALL THE LITECOINS!!

That shit-altcoin is dead and his corpse is starting to stink...

I'll buy more if it goes under $5 , I don't sit around and complain when the price goes down.

If Litecoin goes to $5, will you sell? $3? $1? You will never sell or will sell at some lower price?

No actually I never sold a coin for fiat and never will.

Haha, I never said anything about NXT to him, you said it. I advised him to at least do his research and invest into PoW coin that can't be 51% attacked - Myriadcoin. I buy NXT at exchanges as unfortunately I wasn't even aware of Bitcoin or any other cryptos when the NXT IPO took place.

El Dude, did you dump all your Litecoins on suckers yet? Looks like Saigonsmokes and other dudes are going to be bag-holders for your Litecoins

devphp and his cronies rather you invest in nxt and IPO type coins where him and his masters own all the coins. 

@Saigonsmokes,

you contradict yourself. If it's about freedom, then you certainly can't rely on 1-2 large monopoly corporations mining coins and processing transactions for you.

Myriadcoin - will look into it but the problem is, is that there are so many new coins out there that the innovative ones just seem to get lost in the mix. What i like about Litecoin are as follows and the reason i am invested in both BTC and LTC.

- Number 2 in volume and market cap
- A strong development team who work closely with the Bitcoin developers
- Secure Network
- Millions and Millions of $$$$$$ have been spent developing ASICS for Litecoin
- Payment Processor - GoCoin allows merchants to accept Litecoin.
- The founder works as a manager at Coinbase, he has a 'We accept Litecoin' neon sign flashing next to his desk. Its only a matter of time before LTC hits Coinbase and more and more people have access to purchase LTC. No other crypto is likely to be added to Coinbase before LTC.

He frequently posts on the forums to update the community with the situation.

Coinbase has our own node built on top of bitcoin-ruby. And bitcoin-ruby was recently updated by me to support Litecoin: https://github.com/lian/bitcoin-ruby/pull/91
Coinbase's business is cryptocurrency-based. We currently only support Bitcoin because Bitcoin is the first and the most popular cryptocurrency. If that were to change, we can easily support another cryptocurrency.

- If you actually buy/sell BTC and LTC on a weekly basis which i do, you will notice that LTC transactions are MUCH MUCH faster. You should try it, honestly you will be shocked at how much quicker LTC is.
- Litecoin has not got any bad history, BTC on the other hand...Silk Road, MT Gox, Bitcoin Board Foundation members....
- Downloading the Bitcoin blockchain takes weeks!
- Fair launch
https://bitcointalksearch.org/topic/ann-litecoin-a-lite-version-of-bitcoin-launched-47417

Someone posted this recently and its completely true..

Regardless, it's not about BTC, LTC, Doge or any other coin. Everyone is missing the big picture, it's about achieving freedom from the death grip of governments and banks feeding off our physical and mental energy. The sooner the various crypto communities can realize this, the better!

Well, alright, if you're a fan of PoW, at least go with Myriadcoin. Its marketing sucks, just like Litecoin's marketing, but at least they have the 51%-attack possibility covered.

I do get it but I do not get your comparison to Doge - Doge is not going to succeed.

You don't get it, do you?
Centralization goes against the idea of crypto currencies. You can have the highest hash rate in the world, but if one or two entities control the whole hash rate, the crypto is kaputt. It's same as central bank printing money. It's no longer people minting coins.

Do you see how strong Litecoins network is becoming? Look at Doge

I would be surprised if Doge is here in 12 months.

http://bitinfocharts.com/comparison/hashrate-ltc-doge.html

Simple answer.
Because it brings nothing new compared to Bitcoin. But it copys the major Bitcoin's fault - centralization of mining power due to ASICs, just lagging behind Bitcoin a year or two. Bitcoin is already failing with Ghash owning close to 50% of all hash power.

There is one Scrypt coin which brought an economic and marketing innovation - Dogecoin. Although the 51%-attack danger is still a problem, but at least Dogecoin is so cheap right now compared to Litecoin that you won't lose much if it happens and the price probably won't go any lower, because it's already at the lowest. Not Litecoin though. Litecoin still has a lot of downside. See my simple answer why.

EDIT: I just wrote this and then went to check https://blockchain.info/en/pools?timespan=24hrs   and Ghash IS at 50% RIGHT NOW! Crazy!

You couldn't be further from the truth regarding TheMage.

I have posted a number of links showing why LTC can only succeed.

Why will LTC fail? You have yet to tell us this.

I have and always have had very little in terms of LTC, BTC, or any other form of crypto currency to be perfectly honest compared to most people. I do it for the passion of Litecoin and crypto-currencies in general because I believe in the cause. While I am very much entrenched in the Litecoin community, I am also a large advocate of bitcoin and Dogecoin (and any other crypto coins that want to change the worlds economic strangle with money).

EDIT: What I do have, I have never sold a mLTC or mBTC btw .

TheMage, I understand why you have to be such a trooper in public but I bet behind the scenes you're secretly unloading most of your Litecoin stash.

Only suckers are currently investing in Litecoin. Too bad you can't delete the truth over here like you do at Litecointalk and reddit.

I guess if Coinbase doesnt like Litecoin they are making a mistake employing Charlie as a manager over there

His office does look nice though with that big 'Litecoin Accepted Here Sign' hanging up:

Charlie Lee's thoughts on Coinbase and Litecoin
There are no philosophical or financial reasons for not adding Litecoin support. If there were, I would not have joined Coinbase last year.

The reasons we are not adding Litecoin today are:
Paradox of choice - need to design UI in such a way that it's powerful for people who want to use Litecoin and Bitcoin and not overwhelming for new users
Lack of liquidity - need more trusted (i.e. not anonymous) exchanges with large volumes
Engineering resources constraint - other projects are more important

(1) is solvable by some good UI design. Maybe a secret URL (http://coinbase.com/litecoin) to opt-in in creating a Litecoin wallet. FYI, I actually implemented the multiple wallet feature.

(2) can be worked around by doing more internalizing of buys and sells and depend less on exchanges.

(3) will resolve over time. As more important projects get launched, Litecoin will become higher on the list of TODOs. Btw, I recently became an engineering manager at Coinbase with 5 direct reports, so I have some say on what projects they work on. Cheesy

So, yes, I have put a lot of thought into this. And I am in the best position to make this happen, but I won't promise a time frame. Please be patient and bear with me.
____

Ok so lets start...



I stopped reading after this in your link


because you lack simple understanding that a stronger network and a historically strong coin are the two most important thing to investors. Much more fiat is being dumped into LTC in terms of asics, and this to me shows that there is much confidence with all types of "investors". This post along with the majority of this thread is a thinly disguised NXT pump up, nothing more.





Please put a solid date on that and lets make a wager for it if you are that confidant. A few months, will August be ok? I'll put 50 LTC on the table that LTC will still be number 2 in August. (hold in trusted escrow of course). Put your money where your mouth is if you are that confidant .




I dont think so, while privacy may be something many folks want, I find it will be difficult getting mass adoption (and really thats the end game here).




The talks in the last few months are from trolls of other coins, and it hasnt been 2 months, its been 6 months+. Anyone remember when Dogecoin was going to take it over? Or Auoracoin? Whitecoin, Chinacoin, i can go on. Even the NXT fans came over to the forums months ago (litecointalk) and pumped their chest up so on and so forth. Yet here we are, LTC is still number 2 with an ever evolving infrastructure, merchant acceptance, stronger network by the day, and longevity.

As for Charlie's statement please dont twist his words. He along with the other devs discussed asics long before they started being developed. And it was determined that with our age, infrastructure, and trust doing anything substantial to circumvent asics would be a bad idea and destroy the trust in LTC (of course there are a bunch of people here that would love to see that happen, so im sure thats the real reason they are claiming "herpaderp hard fork plz").

You can read more from the man himself https://litecointalk.org/index.php?topic=18166.0


I have 2 answers for this.

Litecoin is "pegged" to bitcoin because of the large amounts of bots utilizing it as an arbitrage tool between coins and exchanges. This is why these two coins more than anything else nearly overlap in price variations (here is something I posted a month ago showing this http://postimg.org/image/n3d6t1i6h/ from this thread http://www.reddit.com/r/litecoin/comments/2315qe/litecoin_named_most_popular_altcoin_among/). You can see this at almost any point in time on BTC-E on the BTC/USD chart and LTC/USD chart. The only variation you will see is obviously going to change from the BTC/LTC ratio. As a side note, its both a boon to us as well as a curse. The curse being we can't really break free from BTC's price volatility, the boon because we are the most trusted currency out there to be able to do this with little risk.

So why has the ratio gone down recently? Well if you noticed the LTC/USD price has still been pegged too the BTC price. When the price goes up, the LTC price will go up as well, accounting for ratio variations. So why again is the ratio down? This most likely because of asics being deployed recently, and also most likely asic miners are dumping LTC on the market in order to regain ROI as early as possible (naturally assuming people have bills to pay). This same phenomenon happened with Bitcoin when asics were shipped out (or should I say, after people received them from waiting for so long heh).



See above, plus please point me to the capital flowing into other coins? I would even wager right now that the amount of capital being poured into LTC right now is more than all other alts combined.


I do agree with this statement, but im more optimistic than half the people here for obvious reasons.


This is pretty much the nail in the coffin as to why we are still number 2 and will continue to be. Also as mentioned before our infrastructure is growing in order for merchants to accept LTC along with our community.


Litecoin is not "riding" on Bitcoins position, as mentioned above its all about the bots and arbitrage. Heck even check out coinmarketcap right now and look, BTC and LTC look identical in terms of graphs (and always are).



I'm just going to lol at this.  


I'm one of the largest Litecoin advocates, but I find it highly unlikely that LTC will take the number 1 spot lol.


GHHash.io anyone? I'm glad you can dig up something that has happened to BTC several times and has no relevance to your statement.


Scandals? Care to back up with some proof? Lets see, silk road, charlie Shreem, Brook pierce, BF labs, empty gox.......I could keep on going on......



Wrong on the second point. If you were correct in stating that tech is most important next to a network than you should also be stating that BTC will be taken over by NXT soon as well, since it doesnt need a network in the sense BTC and LTC do and its tech is "so awesome super cool". Clearly you wont admit that because you know it wont happen, but because Litecoin isnt Bitcoin you feel comfortable writing such a baseless, unsubstantiated, and uneducated post.


You know, im a BTC fan as well but I have yet to see any of these innovations happen at all. What happened to sidechains? I know the answer, im curious to know if you do.


Really dude, personal insults now? Your avatar is a selfie......



This is true considering the BTC and LTC devs work closely together to help each other out. There is a synergistic nature between the two dev groups.



I'm glad you enjoy spreading hate, please enjoy the popcorn. And just to point it out, no one but you thinks its going to have a slow death. It's half stating it will stay number 2 and succeed, and the other half stating it will die hard within a few months.


This is such a wrong statement......Do asic companies give a shit? Of course not. But the market dictates what is valuable to create asics for, and apparently it was of a great incentive to make them for LTC. Once there is an incentive to mine x11 or whatever new fangled POW people claim are asic proof, asics will be made.....Ohh thast right, FPGA's have already been programmed for them https://bitcointalksearch.org/topic/dont-use-x11it-can-be-mined-by-scrypt-asic-or-fpga-586407


You seem unaware that the statement you just made is completely inaccurate and false (or you did know and enjoy spreading lies). On Litecoin.org it was specifically stated that it would be a while for asics to be developed until there was an economic incentive to do so. I think that statement was pretty accurate if you ask me. On top of that, it is still resistant to asics. The amount of $ per hash is substantially lower (by factor of 10? I'm not sure exactly but its by a few factors) then BTC asics.


This is really the most correct statement in this thread. It's not about X tech, or asics, or anything. Its really merchants, retail adopters, and the rest that makes a coin succeed.



Litecoin is one of if not the most fair launch in crypto history. Charlie provided the wallets a week (or more?) ahead of time of launch, and only mined 2 blocks before that, the genesis block and a test block. Once the week was up and people had time to prepare for the launch, he released something to be added to a config file to enable mining. Any instamine effects were a result of a successful launch. Interesting that you didnt even state premine, which almost every other coin has had.


I guess I stand corrected, it was a few weeks not one week.


I really love how you pointed this out, because this is exactly why LTC is number two and becoming adopted by the masses .



It took 3 days for someone to chew through 55,000 coins before the person putting up the buy wall in order to manipulate price realized they were losing a lot of money and took the wall down at 45k.


Care to explain why that I havent already addressed?



I'm pretty sure at some point in time they will add LTC, but not as soon as some of my fellow Litecoin community members may think. It's called Coinbase, not BTCbase. But ill leave it at that since you have your heart set on bashing LTC for fun and there is nothing I can say otherwise.

However it's pretty pathetic you quote Charlie as stating that he openingly admited to all LTC numbers out of China are faked, considering I talk to him semi regularly and I never known him to state this. As a matter of fact im going to link your post to him for you tonight since you love to quote him. Might as well hear it from the horses mouth right?

But, to a certain degree you are correct. There are some exchanges that are faking BTC data and LTC data. So if you are going to make somewhat of a statement, make sure you elaborate correctly.


lol......no they are not. This did make me laugh a bit .





Ok im tired, and yes I know I didnt address everyones post. But honestly there is so much I can do to sway personal opinion posts so I didnt even bother.

Then sometime Qora will be also a contestant on the third place.

And NXT coin - $ 238,694 daily volume ! WOW MUCH WOW BIG WOW WOW WOOF