There's no Government support for LTC but what I meant is that LTC has rich backers who'll presumably engage in Keynesian practices. Don't recall that BTC was going off the ends until the Winklevoss twins started pumping money into it.
Topic: Is Litecoin "too big to fail" like the automobiles manufactorers and banks? (Read 743 times)
July 06, 2014, 05:00:04 PM
July 06, 2014, 03:56:05 PM
I do not believe that Litecoin is "too big to fail".
But I do not think it is failing at all. Price means nothing when talking about the protocol and its security.
But I do not think it is failing at all. Price means nothing when talking about the protocol and its security.
July 06, 2014, 01:29:25 PM
Why are you comparing huge companies that were bailed out by tax dollars with a crypto that isn't backed by anything? Of course litecoin can fail, just like GM and Fannie mae would have failed without government support.
I was just tossing Fannie Mae out as an example as something that should not have been considered "Too big to fail." The rules of pure capitalism should include the idea that, if you make as many mistakes as the big financial institutions made to cause the crash of a few years ago, you deserve to go out of business. Fannie Mae and Freddie Mac should NOT have been bailed out so they could serve as an object lesson regarding what happens when people become arrogant.
July 06, 2014, 12:36:58 PM
Litecoin offers nothing over Bitcoin. It's already failed.
And please dont say that Silver to Gold bullshit.
Silver has properties over Gold that makes it valuable. What does Litecoin have over Bitcoin that maks it valuable? Nothing.
And please dont say that Silver to Gold bullshit.
Silver has properties over Gold that makes it valuable. What does Litecoin have over Bitcoin that maks it valuable? Nothing.
July 06, 2014, 12:24:14 PM
Why are you comparing huge companies that were bailed out by tax dollars with a crypto that isn't backed by anything? Of course litecoin can fail, just like GM and Fannie mae would have failed without government support.
July 06, 2014, 09:07:14 AM
LTC might be a good buy around 0,10-0,20$ everything above is way overvalued.
July 06, 2014, 08:47:11 AM
Litecoin lost some value but not as much as worthless dogecoin or feathercoin or others. there will always be a silver in the cryptoworld, a backup for bitcoin.
You got it right there. Though in BTC Figures it's like BTC0.009-10ish but in dollars it's still more than $5. It started like less than $0.06. It's far from zero.
July 06, 2014, 07:38:21 AM
Litecoin lost some value but not as much as worthless dogecoin or feathercoin or others. there will always be a silver in the cryptoworld, a backup for bitcoin.
July 06, 2014, 06:53:19 AM
All of my asset are in litecoin, i think it is going toward zero
But i dont know why i can not sell?
But i dont know why i can not sell?
July 06, 2014, 06:39:09 AM
Is Litecoin too big to fail?
No
1. The big to fail concept is relying on government intervention.
2. Neither Bitcoin nor Litecoin have any major impact on the world economy.
3. Even in the cryptocurrency space, Litecoin does not matter much. The sector is highly bitcoin centered.
The group that is important and is probably interested in Litecoin's stability are miners, but they want to sell coins at high price not buy them.
No
1. The big to fail concept is relying on government intervention.
2. Neither Bitcoin nor Litecoin have any major impact on the world economy.
3. Even in the cryptocurrency space, Litecoin does not matter much. The sector is highly bitcoin centered.
The group that is important and is probably interested in Litecoin's stability are miners, but they want to sell coins at high price not buy them.
July 06, 2014, 05:11:10 AM
It's just maybe the GPU-Based miners are recouping losses due to the entrance of ASIC Scrypt miners. So after they have finished recovering their investments, we'll see a brighter side of LTC for the win. (maybe after 5 years) 
July 06, 2014, 05:07:58 AM
It would definitely suck if Litecoin died because a lot of infrastructure has already been invested into it (e.g. merchant services, scrypt mining equipment). Still nowhere near that of Bitcoin so I wouldn't say that it's "too big to fail". That term doesn't really exist in the crypto world. It's a free market, after all.
July 05, 2014, 04:04:15 PM
Nothing is too big to fail. In fact, we should've just let Fannie Mae and Freddie Mac go belly-up. Yes, it would have been chaos in the financial sector at first, but the benefits would have been twofold: First, it would prove to large financial institutions that they aren't all powerful and, second, the financial sector would have emerged stronger with cryptocurrencies having a decent chance of coming out on top. Litecoin isn't too big to fail and neither is Bitcoin when it gets down to it. So we must not become complacent at any point.
July 05, 2014, 12:12:29 PM
Why should a rich guy do that?
July 05, 2014, 12:04:12 PM
Litecoin can't fail - some rich guy will come in last minute to buy up the sell walls.
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