Topic: Is Litecoin really really cheap right now? Or is it dying? - page 3. (Read 25682 times)
Litecoin really lacks the advantage it used to have. Other coins now have the same advantage, now. However, I don't think LTC is going to die soon.
I really don't see a need for Litecoin. 2.5 minute blocks are not that big of a deal compared to 10 minutes. 2-3 second blocks, a message system, colored coins, anonymous spending, and other options might do it for me.
If crypto currency where to become mainstream your average joe isn't going to give a shit about the technical specifications of a coin. All people will care about is if the network is secure and if the store of value exists within the coin.
Whether people like it or not Litecoin is about to become the #2 most secure network behind Bitcoin. ASICs will make litecoin the silver to bitcoin. There are 40 new posts a day regards what we are going to call 0.0001 BTC and the bottom line is no one is going to run with milli, micro, mini or macadamia bits for future nomenclature. For crypto currency to succeed we need a cheaper #2 coin that can be bought cheaply while bitcoin can be used for larger transactions. Litecoin is here to stay boys!
I really don't see a need for Litecoin. 2.5 minute blocks are not that big of a deal compared to 10 minutes. 2-3 second blocks, a message system, colored coins, anonymous spending, and other options might do it for me.
I know its an older topic. Right now Litecoin is just highly correlated to bitcoin but offers nothing with regard to technical innovation and i dont see a bright future for it.
It seems like litecoin is still stable because its big, has high liquidity, lots of mining, listed on a ton of exchanges .. overall its well known and working. But it has no competitive advantage anymore.
Companies will use bitcoin for transaction, no need to list another coin that is basically a substitute.
The main reason litecoin is valuable is: You can convert it into bitcoin!
What is your opinion about litecoin?
It seems like litecoin is still stable because its big, has high liquidity, lots of mining, listed on a ton of exchanges .. overall its well known and working. But it has no competitive advantage anymore.
Companies will use bitcoin for transaction, no need to list another coin that is basically a substitute.
The main reason litecoin is valuable is: You can convert it into bitcoin!
What is your opinion about litecoin?
When mining drives bitcoin in centralization, another alt currency will thrive until all the bitcoins have been mined.
lost it, in their we are back thread talks about other crypto coins coming soon.
it was the next post.
it is like the only tradehill thread they started in the last year.
LTC listed on trade hill?? 
Just Chaang spreading misinformation again I think.
they have stated in public they are open to trading altcoins. I wont say what they have said in private. Also the? ? ? Should be a hint at maybee...
Perhaps you should have linked to the tradehill post addressing alt-coins.
i told people what thread it was in. Posting from a phone is a bitch as it is.
According to the quotes above I dont see a reference to a thread. Just saying
LTC listed on trade hill??
Just Chaang spreading misinformation again I think.
they have stated in public they are open to trading altcoins. I wont say what they have said in private. Also the? ? ? Should be a hint at maybee...
oh Chaang, you and your "pms" you may/will share, We have been down this road to many times to count.
Fortunately we have btc-e and vircurex that already actively trade LTC, another exchange joining the market definitely would be a good thing for litecoin but not a single exchange has commented that they are planning to do so. We can only hope they become more receptive as time goes on
They did not say they would list LTC. They said they were open to alt coins in public. Clearly LTC is the only significant alt coin at this time.
LTC listed on trade hill??
Just Chaang spreading misinformation again I think.
they have stated in public they are open to trading altcoins. I wont say what they have said in private. Also the? ? ? Should be a hint at maybee...
oh Chaang, you and your "pms" you may/will share, We have been down this road to many times to count.
Fortunately we have btc-e and vircurex that already actively trade LTC, another exchange joining the market definitely would be a good thing for litecoin but not a single exchange has commented that they are planning to do so. We can only hope they become more receptive as time goes on
LTC listed on trade hill??
Just Chaang spreading misinformation again I think.
they have stated in public they are open to trading altcoins. I wont say what they have said in private. Also the? ? ? Should be a hint at maybee...
Perhaps you should have linked to the tradehill post addressing alt-coins.
i told people what thread it was in. Posting from a phone is a bitch as it is.
LTC listed on trade hill??
Just Chaang spreading misinformation again I think.
they have stated in public they are open to trading altcoins. I wont say what they have said in private. Also the? ? ? Should be a hint at maybee...
Perhaps you should have linked to the tradehill post addressing alt-coins.
LTC listed on trade hill??
Just Chaang spreading misinformation again I think.
they have stated in public they are open to trading altcoins. I wont say what they have said in private. Also the? ? ? Should be a hint at maybee...
LTC listed on trade hill??
Just Chaang spreading misinformation again I think.
Litecoin is really cheap right now IMHO. Just look at how steady it stays (it isn't affected in a great degree by the climbing/falling of the BTC), it started to balance on its own. It has a distinct future, just think that all the people that invested in GPU mining rigs, have already started switching to LTC mining.
So, it's just a matter of time. It will become more widely used, there will be more exchange-sites and more businesses that use it.
Let's support it. The time is now - the future is ours - just believe
So, it's just a matter of time. It will become more widely used, there will be more exchange-sites and more businesses that use it.
Let's support it. The time is now - the future is ours - just believe
That is exactly my point. The supply is staying he same, but the people generating that supply are doing it more easily.
No they aren't. Not collectively, anyway. Some individuals may see a greater percentage of each days' mined supply. For awhile. But collectively, Bitcoin is not obtained any faster, on average.
Think about the move from CPU to GPU: are BTC obtained more easily today with GPU than they were with CPU in the past? Not at all; in fact, it costs more (in terms of resource and time investment, and skill) to obtain BTC today with GPU than it used to cost to obtain them with CPU a few years ago. The transition to ASIC is the same.
But I think things are actually going the other way: ASICs make mining easier (for those who have them). If it takes less effort to get the bitcoins, since the miner is more efficient, then that miner will be willing to sell at a lower price. To use your analogy, if you know a gold rush is coming (and the supply of gold will go up), then why would you buy now? You would offer a lower price in anticipation of the increased supply.
But there is no increased supply. The difficulty adjustments ensure that the supply remains fairly constant.
That is exactly my point. The supply is staying he same, but the people generating that supply are doing it more easily. So for the amount of the supply which is coming from miners, that amount should be available at a lower price. Then you have to take into account that the percentage of bitcoins being generated new each day is declining, and so the miners are becoming less and less of a factor in the pricing of bitcoins, so the argument is becoming less and less meaningful as time goes on. So a bitcoin is worth what people are willing to pay for it, miners just have to admit they have no control over the price at all.
I think it's better to think of it as a fairly fixed number of coins that can be mined per day, and the only thing that changes is who is mining them.
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But I think things are actually going the other way: ASICs make mining easier (for those who have them). If it takes less effort to get the bitcoins, since the miner is more efficient, then that miner will be willing to sell at a lower price. To use your analogy, if you know a gold rush is coming (and the supply of gold will go up), then why would you buy now? You would offer a lower price in anticipation of the increased supply.
But there is no increased supply. The difficulty adjustments ensure that the supply remains fairly constant.
That is exactly my point. The supply is staying he same, but the people generating that supply are doing it more easily. So for the amount of the supply which is coming from miners, that amount should be available at a lower price. Then you have to take into account that the percentage of bitcoins being generated new each day is declining, and so the miners are becoming less and less of a factor in the pricing of bitcoins, so the argument is becoming less and less meaningful as time goes on. So a bitcoin is worth what people are willing to pay for it, miners just have to admit they have no control over the price at all.
But I think things are actually going the other way: ASICs make mining easier (for those who have them). If it takes less effort to get the bitcoins, since the miner is more efficient, then that miner will be willing to sell at a lower price. To use your analogy, if you know a gold rush is coming (and the supply of gold will go up), then why would you buy now? You would offer a lower price in anticipation of the increased supply.
But there is no increased supply. The difficulty adjustments ensure that the supply remains fairly constant.
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