Do you think Litecoin is dead ? - page 3.

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: devphp on July 01, 2014, 04:37:38 AM

Smoothie,

I set the end date and my terms - on January 1st, 2015 Litecoin will be below 0.008. I bet 1 BTC. Ready to do an escrow.

Please, define your terms of the bet, and I'll see if I am ok with those.

Hmm, I might want to spell out your terms a bit more specifically. You don't mention the exchange, and you don't mention how long Litecoin needs to be below .008. If it takes less then 1btc to move litecoin from .0079 to .008 you would lose at the cost of whatever it takes to move the price. Perhaps you should be more specific?

devphp

sr. member

Activity: 336

Merit: 260

Quote from: smoothie on July 01, 2014, 04:37:20 AM

LOL don't put words in my mouth. I said it was premined and no thanks. Not that it "wasn't fair". lol

It is a personal choice not a complaint about "boo hoo I didn't get to hold the majority of coins".

There is a difference lol.

So why do you care NXT was 'premined' then? (You can't premine something that cannot be mined, but we'll omit this debate for now).

Do you consider NXT unfair or not?

devphp

sr. member

Activity: 336

Merit: 260

Smoothie,

I set the end date and my terms - on January 1st, 2015 Litecoin will be below 0.008. I bet 1 BTC. Ready to do an escrow.

Please, define your terms of the bet, and I'll see if I am ok with those.

smoothie

legendary

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LEALANA Bitcoin Grim Reaper

Quote from: devphp on July 01, 2014, 04:34:32 AM

Quote from: smoothie on July 01, 2014, 04:30:40 AM

Anything is vulnerable to centralization and monopolization. Hardly something to use as a reason it can't survive.

"Little fish don't have a chance". <-- This statement goes back to the example:

If all of the world's money supply was evenly divided amongst each living human being it wouldn't be long before many of those with fair shares of the money supply would lose it due to bad decision making or horrible risk management.

Claiming that as an argument is like saying "boo hoo the world isn't fair so now let me go and cry about it because I was late to the game or fucked up along the way."

The world doesn't work like that. Hardly an argument for why Bitcoin will fail.

Although there is a lot of truth in what you say, 'fairness' has been the latest craze, and most attacks on the IPO coins are based on the fact that they are somehow unfair. One example, you yourself said NXT was 'premined', hence you were not interested. That means you don't think NXT is fair. And now you're talking about things not being fair is ok.

Sorry but I'm not into fads or the latest craze. If you care to indulge in them have at it.

LOL don't put words in my mouth. I said it was premined and no thanks. Not that it "wasn't fair". lol

It is a personal choice not a complaint about "boo hoo I didn't get to hold the majority of coins".

There is a difference lol.

jubalix

legendary

Activity: 2632

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I struggle to see the use case for Light coin atm, except different algo.

That said I hold LTC.

The real sleeper is Peercoin.

It's the crypto that crypto people don't get.....backbone currecny....they just don't get it, it like it 2009 and trying to explain BTC and the word FIAT currency and everyone eyes glaze over....

Even with the 1000's of alts now out there, there is not one contender that is trying to be a backbone currency except peercoin.

Thats a hint as to how much not understood it is.

back bone currency will be the new FIAT (sorta) word that people understand.

In the mean time thanks for cheap Peercoins.

devphp

sr. member

Activity: 336

Merit: 260

Quote from: smoothie on July 01, 2014, 04:30:40 AM

Anything is vulnerable to centralization and monopolization. Hardly something to use as a reason it can't survive.

"Little fish don't have a chance". <-- This statement goes back to the example:

If all of the world's money supply was evenly divided amongst each living human being it wouldn't be long before many of those with fair shares of the money supply would lose it due to bad decision making or horrible risk management.

Claiming that as an argument is like saying "boo hoo the world isn't fair so now let me go and cry about it because I was late to the game or fucked up along the way."

The world doesn't work like that. Hardly an argument for why Bitcoin will fail.

Although there is a lot of truth in what you say, 'fairness' has been the latest craze, and most attacks on the IPO coins are based on the fact that they are somehow unfair. One example, you yourself said NXT was 'premined', hence you were not interested. That means you don't think NXT is fair. And now you're talking about things not being fair is ok.

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: devphp on July 01, 2014, 04:28:22 AM

Quote from: smoothie on July 01, 2014, 04:25:37 AM

Care to make an escrowed bet to the bolded statement?

How low do you think it will dip once it goes to 0.008?

I can make an escrowed bet, but not a timed bet. I don't know when it will happen, but I can bet it will.

Not sure how low it will go when it dips below 0.008, why does it matter?

EDIT: I can make a timed bet that Litecoin will go below 0.008 this year. That is, before January 1, 2015.
1 BTC for a bet. If you accept these terms.

1. The bet would need to have an end date.

2. Why does it matter? Good question. You made the initial price comment about dipping to 0.008 and then continuing down ward after that. I think that it could go below 0.008 but it won't stay there for very long.

3. My terms of the bet were based on your original comment that appeared to assume that Litecoin would continue to go below 0.008 and not just spike down and pop right back up shortly thereafter.

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: devphp on July 01, 2014, 04:02:10 AM

I fully agree with the need to test new code to claim it's secure enough.

Bitcoin proved itself vulnerable to centralization and monopolization, which was against its original principles. Hence it can no longer be said that Bitcoin is 'money by the people', it can be said it's 'money by the corporations'. Just look at the skyrocketing difficulty, 25% each 10 days. Little fish don't have a chance.

Litecoin is going the same route, just lagging behind. But since people start to realize the flaws of the PoW design, they begin mass exodus out of Litecoin, well, not there yet, mass exodus will begin when it dips below 0.01. They still have a hope for Bitcoin, because it's been around longer, but the design is the same, the flaws are the same, it's just delaying the inevitable and wishful thinking.

Anything is vulnerable to centralization and monopolization. Hardly something to use as a reason it can't survive.

"Little fish don't have a chance". <-- This statement goes back to the example:

If all of the world's money supply was evenly divided amongst each living human being it wouldn't be long before many of those with fair shares of the money supply would lose it due to bad decision making or horrible risk management.

Claiming that as an argument is like saying "boo hoo the world isn't fair so now let me go and cry about it because I was late to the game or fucked up along the way."

The world doesn't work like that. Hardly an argument for why Bitcoin will fail.

devphp

sr. member

Activity: 336

Merit: 260

Quote from: smoothie on July 01, 2014, 04:25:37 AM

Care to make an escrowed bet to the bolded statement?

How low do you think it will dip once it goes to 0.008?

I can make an escrowed bet, but not a timed bet. I don't know when it will happen, but I can bet it will.

Not sure how low it will go when it dips below 0.008, why does it matter?

EDIT: I can make a timed bet that Litecoin will go below 0.008 this year. That is, before January 1, 2015.
1 BTC for a bet. If you accept these terms.

_smudger_

full member

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Bitcoin now represents over 94% capitalization of all the top 100 alt coins and this figure is rising all the time.

Think very carefully before you invest in alt coins

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: devphp on July 01, 2014, 04:16:20 AM

Quote from: tyz on July 01, 2014, 04:13:56 AM

A coin with a market capitalization of more than 200 million is certainly not dead. If people feel the coin would be dead, the price would be collapse.

The price will collapse when it dips below 0.01-0.008 (its last low). Some hope remains with people that it won't, so they keep putting buy orders, but not enough of those obviously as the price chart shows.

Care to make an escrowed bet to the bolded statement?

How low do you think it will dip once it goes to 0.008?

operrajunk74

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Quote from: devphp on July 01, 2014, 04:02:10 AM

I fully agree with the need to test new code to claim it's secure enough.

Bitcoin proved itself vulnerable to centralization and monopolization, which was against its original principles. Hence it can no longer be said that Bitcoin is 'money by the people', it can be said it's 'money by the corporations'. Just look at the skyrocketing difficulty, 25% each 10 days. Little fish don't have a chance.

Litecoin is going the same route, just lagging behind. But since people start to realize the flaws of the PoW design, they begin mass exodus out of Litecoin, well, not there yet, mass exodus will begin when it dips below 0.01. They still have a hope for Bitcoin, because it's been around longer, but the design is the same, the flaws are the same, it's just delaying the inevitable and wishful thinking.

There is no flaw in PoW, in fact it is the most secure option. The Litecoin fault is it doesnt offer anything interesting over Bitcoin, so why use it.

zimmah

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Quote from: tao67 on July 01, 2014, 01:58:51 AM

I just have litecoin and i begin to be very afraid... Bitcoin is going up and litecoin doesn't move.

Do you think it is the end of Litecoin, and other altcoins in general ?

Were they ever alive?

_smudger_

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As LiteCoin dies we will see some of that capitalization moved into Bitcoin

devphp

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Quote from: tyz on July 01, 2014, 04:13:56 AM

A coin with a market capitalization of more than 200 million is certainly not dead. If people feel the coin would be dead, the price would be collapse.

The price will collapse when it dips below 0.01-0.008 (its last low). Some hope remains with people that it won't, so they keep putting buy orders, but not enough of those obviously as the price chart shows.

jbrnt

hero member

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Litecoin is not dead, it is more alive than most pump and dump alts. Litecoin is still rank 2nd by market capital of $265M. It is falling behind bitcoin by a long shot, but still 6x over darkcoin and 13x over doge.

I know market cap doesn't give much insight to the future and litecoin price is in a downward spiral. Their devs are still active and patching and it's trading volume per day is very strong. I see litecoin is in a bad patch at the moment. Just wait until bitcoin passes $1000 again, we will see more support for litecoin.

tyz

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A coin with a market capitalization of more than 200 million is certainly not dead. If people feel the coin would be dead, the price would be collapse.

toknormal

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Litecoin is dead.

The big pump of November 2013 will never be repeated - the alt coin landscape has changed beyond recognition since then.

I don't understand how anyone can still be holding Litecoin other than for day trading. LTC is a reasonable day trading market due to liquidity, but it needs a 2x or 3x pump to ever get back to a semblance of its late 2013 highs and that's not going to happen ever again.

Its market cap will continue to decline. Look at the 1-day chart for doge and you'll see what's in store for Litrecoin. People kept buying in thinking "this is the bottom", bit for there to be a bottom there needs to be a future and there is no future for LTC - there's no "silver" BTC anymore, because all the top 10 coins have trickling adoption somewhere and LTC is no longer the 'obvious choice' for payment gateways.

If anyone really needs it spelled out to them, look at the 1-week MACD for LTC / BTC - the longest term chart there is on bcd. It only keeps diverging. Overcoming that kind of long term momentum would take months of constant buying.

Sure, it might get a pump of 10% or 20% on the way, but traders will just use that as a last gasp opportunity to offload and minimise losses.

devphp

sr. member

Activity: 336

Merit: 260

I fully agree with the need to test new code to claim it's secure enough.

Bitcoin proved itself vulnerable to centralization and monopolization, which was against its original principles. Hence it can no longer be said that Bitcoin is 'money by the people', it can be said it's 'money by the corporations'. Just look at the skyrocketing difficulty, 25% each 10 days. Little fish don't have a chance.

Litecoin is going the same route, just lagging behind. But since people start to realize the flaws of the PoW design, they begin mass exodus out of Litecoin, well, not there yet, mass exodus will begin when it dips below 0.01. They still have a hope for Bitcoin, because it's been around longer, but the design is the same, the flaws are the same, it's just delaying the inevitable and wishful thinking.

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: devphp on July 01, 2014, 03:22:14 AM

Quote from: smoothie on July 01, 2014, 03:19:27 AM

You forgot to mention not well tested "superior technology".

Testing older technologies proved they are vulnerable. Now what?

Quote from: doo on July 01, 2014, 03:20:44 AM

Now we sunk to pure trolling level.

Oh, did I say a blasphemy about the almighty Bitcoin? I am sorry. So if I really think it doesn't have much upside potential, is this considered trolling? Why? Even one of Bitcoin developers sold half of his Bitcoins, because he doesn't feel confident Bitcoin will win the race due to its flaws, what other signs do you need?

One man selling bitcoins means nothing.

Everyone is given a choice and that is his choice. But you are entitled to your opinion. See you at $3000+ later this year. Grin

Topic: Do you think Litecoin is dead ? - page 3. (Read 3795 times)