Topic: Dear Bear, So is this a slow bounce up, then a slow drop back to $100 or less (Read 2181 times)

  we will see..

I assume you then believe that every alt coin created that is on a major exchange are also exactly the same thing as Bitcoin, Litecoin and each other and they will all have the same market cap as each other?

You say fungible but I think the word you're looking for is liquid.

Yes! Exactly like USD and CAD! 

You are looking at LTC and BTC like they are two separate things.....this is not aimed at anyone.. but, shit is so stupid. Dont you get it they are the same thing!!
which would you rather have? 4 quarters or a dollar 5 dollars or one 5 dollar bill.. 20 ones or a 20 dollar bill who cares you have the same amount no matter what.. In other words litecoins and bitcoin are both accepted any where the other is accepted. Litecoin and bitcoin are fungible!!! I can buy drugs off the silkroad with litecoin because I can switch my litecoin out for bitcoin.

Looking at Litecoin vs Bitcoin technically I think the pros in general are mostly outweighed by the cons.  It has a shorter 1 confirmation time for transactions, but that 1 confirmation is less secure than 1 from Bitcoin.  Most seem to feel that faster 1 confirms are not often needed in most transactions so where Litecoin edges out Bitcoin is in a fairly niche scenario and comes with the downside of more/faster blockchain bloat.

Personally I don't see anything that Litecoin has that will be significant enough to battle the first mover advantage Bitcoin enjoys.  Now that it's been invented and open source almost all the value of any given coin is it's adoption network (speculators, merchants, users etc.), barring the innovation of a vastly superior coin.

It looks to me like the development resources are going to Bitcoin not Litecoin.  The VC money is going to Bitcoin and not Litecoin.  The news articles are about Bitcoin and not Litecoin.  And new merchant announcements are for Bitcoin and not Litecoin.  Of course I don't have proof of this but this is my gut feeling based on what I see here, on Reddit and other places.  Do you have any data to show that this isn't the case and Litecoin is being adopted at a greater rate in any of these areas?

I do agree with potentially having greater opportunity for market gains in the short term.  If there are 100 Bitcoin accepting merchants for every 1 Litecoin, then Litecoin only has to be accepted by 2 merchants for every 100 merchants that accept Bitcoin for Litecoin adoption growth by percentage to be higher.  However in this scenario Bitcoin still has 100 more places you can use your bitcoins while Litecoin only has 2.

However for larger scale adoption I think the general populace needs at least 2 things we don't have yet.  Easy to acquire, set up and use hardware wallets (people will never secure their PCs well enough on their own, it's a losing battle and has been for decades).  The second is associating keys with easy to read domain or email style names.  The visibility of crypto keys must be hidden from the user entirely, most people can barely work their email and will move on to other things the second they have to try to understand or remember or manage a 64 long string of seemingly random characters.  Innovations like these will almost certainly come to Bitcoin first.  Afterwards Litecoin will likely copy what works, however being second won't help since now Bitcoin continues to have first mover advantage and will continue to dominate crypto currency market share.

My thoughts at least but Litecoin might surprise me.  I don't have anything against the coin and hold a small amount for speculative purchases.  Also not terrible to have backup blockchain in case something catastrophic happen to Bitcoin it's possible it could be patched in Litecoin in time and be the fallback crypto currency.

Choo choo 

I don't think so. After the peak in 2011, the price went down for months, in a long and excruciating winter for every Bitcoin advocate.

Another possibility, is that we are there:


Precisely when we had a bunch of VC investments announced.

Either way, I remain cautious.

Edit: BTW, while it would be great for my portfolio, it would also be very bad for Bitcoin.

Or we already went through the "return to 'normal'", "fear", and "capitulation" phases and are now in the "return to the mean" phase.

Nova coin does something unique it uses proof of share instead of proof of stake.... that is what I was told any ways. It is personal preference I guess but I dont like spending half the day waiting for my wallet to sync.

I understand the btc hard liners but it is the myspace of digital coins it paved the way but wont be widely adopted. When a coin comes out that ties valuation to market participation, (in other words incentives sharing instead of hoarding) btc will tank probably for good.. it may stick around as a novelty.

Right now it is all about the btc/ltc market mostly because btc-e supports it so heavily.

So IMO btc will keep creeping lower and ltc will have a slow genital rise (like a boner) until we get the correct ratio of .25 percent.      

What are you on about? Litecoin still uses that shitty Berkeley DB syncing crap that kills your HD. Also if you really care about the length of time until the first transaction why don't you use Chinacoin. It only has 60 seconds between blocks.

None of the Altcoins offer irrefutable improvements over Bitcoin and they all suffer from the same problems i.e. the trade off between block size/fees and the lack of safe instantaneous transaction infrastructure.
 
Until one of the alts does something truly unique they're only a distraction.

LTC PPC FTC ect.. ( theirs a butt load of them )

all gonna die eventually

when BetterThenBitcoinInEveryWayCoin finally comes online people are going to go bananas and all alt coins will die intensely and even BTC will suffer some lose

litecoin doesnt have to go through proof of concept it was 7 cent a couple weeks back, it has already made considerable ground and will continue to do so more and more people will adopt it as a way of moving money into the relatively new exchanges..and of course more retailers will accept it as more customers choose to interact with it. I personally prefer to use ltc because of the faster sending times and the quicker sync times  

I also prefer to hold ltc because I believe that it has more opportunity for market gains. I believe that it is much more likely that ltc goes from 4 to 8 than btc from 125 to 250

Even at other exchanges don't you think most investments will go to Bitcoin with only a fraction to alt coins considering Bitcoin is primarily the crypto currency people are likely to use and hear about?  Or do you think investments will be made irrespective of user/merchant base adoption of the coin?  If not, then I assume you believe Litecoin will have the same adoption and exposure as Bitcoin at some point in the future, leading to similar money invested in it at 4x the coins giving a litecoin 25% the price per coin vs bitcoin.  Which goes back to my original question, why/what would cause that to happen in your opinion?  What will change to help Litecoin overcome the first mover advantage Bitcoin has?

No joke there are 4 times as many litecoins as bitcoins (or there will be).. the alternative currency exchanges have btc much cheaper than mt gox as people realize that they can buy alt coins and trade them for btc on the various exchanges and in the process get them at 10 to 15 percent reduced cost.. they will migrate away from gox and toward lesser know exchanges with more favorable conditions.  

Why do you think the market cap for Litecoin will equal that of Bitcoin?

So far "first mover advantage" has been quite powerful for Bitcoin adoption vs the late comers, why and how do you think this trend will reverse enough for Litecoin to catch up?

Wait, now I see you ended with "long term price stability" with BTC at 80/USD, so joke post?

I am not mocking Bears I actually want to know

HA that is funny i edited it...

In the long turn BTC may be worth more, but it seems like there are more and more resistance.
We may very well be in the "return to normal phase"

-But then again, this is pure speculations, and seems like BTC is extra hard to predict ATM.

silly bears, go buy some US stocks and bonds with your USD profits, i hear there's a recovery in progress  

What do rising genitals have to do with the price of bitcoin? Is this some new method of TA?