Topic: Increase litecoin value (Read 7867 times)

Not sure, probably in anticipation of the difficulty rising to extreme levels from the prospect of GPU mining (which it's now starting to) and the reward being outpaced by the risk.  There were some botnets before in the 1-3MH/s region, but now pretty much anyone can mine in that capacity and the difficulty is much higher (soon to be almost 2).

Oh, that is interesting. Why did they leave?

There are no botnets anymore.  The network hash rate is only equivalent to 150 5850 GPUs.

I would make a guess that the price will go up once all the botnets mine all the coins. Still that will be a while.

If LTC have no price, then all difficulties are too far and too high. The only thing that determines whether or not you should mine anything is the price of electricity used vs the price of the coin mined. If BTC were $12 billion each, and difficulty was 1, then I would be mining them with my CPUs as well as my GPUs(regardless of how much better it might be if each CPU was a GPU).

Keep in mind the question was not asked in terms of price but in terms of difficulty and feasibility for CPU miners to attain any LTC for their efforts.

If the LTC difficulty rises to 12 billion, many people might say that is too high! Others might say it is too far!
But if LTC are worth $12 Billion each...is the difficulty too far or too high?

Elaborate please why that is. One shouldn't accept an absolute answer without explanation. I'm for LTC succeeding but will not accept what people say blindly.

Thanks!

No

will there come a point where the difficulty becomes to high for cpu miners?

Good to hear, anybody can get their hands on some litecoins even just using there cpu, whereas bitcoin deso have more of an entry curve.

I think this is a good point.  The ratio of people using digital currency like Bitcoin and Litecoin to fiat is truely one sided to the traditional side.  In order for mass adoption by customers and merchants the money has to be easy to acquire for the average Joe.  Being that Bitcoin is $5+ USD on average it may "seem" (albeit wrong assumption) to be too hard to get, too expensive to bother or even a feeling of missed the boat.  Litecoin is cheaper, faster, more of it and that is all happening now, 2+ years after the first crypto currency finally cracked the code to be a viable digital currency, a la Bitcoin.

Each day 28K LTC will be made until 2016. That is a ton of digital coins that can be divided down for many, many future digital currency carrying members.  A slow and steady growth curve would be the best thing for Litecoin until 2016. Not the violent spikes Bitcoin had during its 1st year just last year. 

please

Say Please?

GET THE FUCK OUTTA MA THREAD YOU MOTHERFUCKERS
we were talking about litecoin not any other currency, shitty or otherwise

Re: Solidcoin and reaper;


Now that we got that settled;
Litecoin is the "other" cryptocurrency at this point, and I could see a future where it's used as an intercurrency exchange medium between established exchanges in order to keep price differences in Bitcoin viable to trade, so that eventually Litecoins are the ones going round in circles behind the scenes, while Bitcoins stay unconsolidated and a bearer of independant value. Litecoins make it possible to set up microexchanges at a low entry point, not having to s#it around with Dwolla for the unscrupulous types, and being a whole lot easier to come by for the average joe.  Or as posited earlier, Litecoin may be adapt at microtransactions because you are still dealing with round numbers at minuscule levels of payment, people can get their hands on them easier, and numbers going up and down quickly make happier people than just watching interest compile.

 

How about a bank that you put BTC into, and it pays out compounded interest in Litecoin, so that you can feel like you are getting a better return than what you actually are? LTC becomes sort of a token system that you can then cash out on, without having to deal with crap-ass pizza. Hell, take the metaphor even further. Set up a swag shoppe with Giftcards and T-shirts and make LTC the de facto currency, offering to exchange BTC locally, and make bank off of the exchange.

That's not exactly true is it?

I can think of a few reasons why one would want to buy Litecoins. The first one is to trade Bitcoin. I don't like the US dollar but if I want to trade Bitcoin then I need to trade it against something. For me, that something is Litecoin.

The second reason why one might want to buy Litecoins is because they're dirt cheap. There will be four times as many Litecoins than Bitcoins so the price should be around 0.25 BTC. The reason why it isn't anywhere near that is probably because Litecoin is more vulnerable to be 51%ed. Once the network grows and becomes more resilient the price should go up. It has a long way to go and one could make tons of money with it.

Litecoin is a highly speculative investment and nobody should put more into it than he can afford to lose. Think of it like a lottery ticket.

I agree with this, but I bet LTC will stay around for a while if for nothing else, great to speculate on. I bet in the future it will be easy to exchange the two making their differences meaningless.

I hold 40K now just to see what happens. I'm still hardcore bitcoin btw:)

Nobody answered the OP question.

The only thing that increases price (in long run) is adoption & usage.

So it comes down to "Why would someone use LTC over BTC?"

Things like "I have a lot" or "you can CPU mine" are meaningless.  Merchant X wants to accept a crypto currency why would he pick LTC over BTC (or even LTC and BTC)?  If there is no genuine answer then the currency has no value.

Bitcoin is Bitcoin's silver right now.  That may change and a "silver" emerges but LTC IMHO doesn't provide enough of a tangible benefit to break that dynamic.

Silver didn't become Gold's "Silver" just because it was different.  Silver became Gold's silver because it is hard to subdivide Gold into small & usable amounts.  When a days worth of food is 1/200th of an ounce of Gold either you need something "smaller" or you need to stamp coins the size of a tiny screw.  The fact that tiny slivers of gold are difficult to transact with was the opening that made silver, gold's "silver (and copper silvers "silver").  Bitcoin can easily subdivide down to 1E-8.  Right now if I owed someone 1/200,000th of a penny I could pay them with Bitcoin.  Granted the minimum with no tx fee (dust spam avoidance) would be 0.5 cents but that is still a small amount. 

If LTC is the silver for fractional cent purchases well it has a problem. So what is the reason for a merchant to accept LTC other than a) you have a lot or b) you don't have a big GPU farm and that is unfair.