Topic: Is this Litecoins first bubble? (Read 3815 times)

Yes. Both ltc and btc are in a bubble atm IMO. Waiting to buy back in at much lower prices. But the s&p needs to turn first. Give it another couple weeks to see if we get a turn.

To answer the OP, no this wasn't LTC's first bubble. We've seen .01 BTC before.

When a stock gains 50% or 100% in a year it's MASSIVE. I know cryptos aren't stocks, but my point is that an average gain of only 0.2% per day is pretty big, even though this would look like total stagnation compared to the price action we're used to seeing.

I'm not sure I agree. When a selloff is followed by a quick recovery it breeds trust in the market.

This is a good thing imo. We want stability as well as increases.

There appears to be a lot of stagnation on LTC today.

People are trying to drive the price up far too quickly and buy orders dropped considerably while I was watching - I didn't watch for too long though so it could just have been a quiet time of the day.

I purchased a load of LTC for about $0.08/9 very recently and they were trading for upto $0.75 last inght from what I understand.

This reckless action (pumping) will be bad for LTC in the long run. A massive panic sell off isn't wanted but the way things are going I fully expect one.

Don't get me wrong, I'm ready to pounce on LTC if a big correction does happen but it will be a setback in general.

The wiki entry about Litecoin having no future is complete horseshit and should be changed.

Litecoin is about to inherit the soon to be obsolete but massive global BTC mining network which will be a major boost.

Just my thoughts.

I think that LTC is a solid play.

*)BTC can't keep going up without closely branded LTC getting some interest.

*) gamers that use BTC are finding that BTC is getting whacky enough in price that the idea of using LTC is starting to look like a sensibly safe play.

*) Probably same for advertisers.

*) LTC users Probably don't get the same attacks as BTC does but not sure about that

Really? What exchange are you looking at? LOL 

LTC/BTC 24 volume: 1,237,767 LTC / 18,311 BTC

LTC/USD 24 volume 484,481 LTC / $310,874 USD

Price is really fluctuating today, currently at .64

Speculations or ideas anyone? Buy volume has dropped significantly.

LTC is being hit by deflecting FUD! DUCK!

The hilarious thing is, most arguments that bitcoin owners use against litecoin are the exact same arguments that people used to use against bitcoin

I felt the same way the first time I read the litecoin page on the bitcoin wiki. So I guess their strategy of defaming litecoin is working. I traded some physical silver for BTC with gaantr2 in Toronto at that time (BTC at $30) and I decided against owning any LTC at $0.04... still thought it was shady.

Then I saw LTC spike above $0.06 and I started paying attention and reading about litecoin and I started a thread to see what the community was thinking https://bitcointalksearch.org/topic/is-litecoin-really-really-cheap-right-now-or-is-it-dying-147015 There are some criticisms of litecoin in there, but you can see there are more bulls by far, and for good reasons.

I guess the word has finally gotten out about the virtues of litecoin. I wish I had poured all of my BTC into litecoin at $0.07! But will we be saying the same thing about the $0.70 level?

I would only consider litecoin to be in a bubble if it was worth more than 1/4 of a BTC. Considering the history of bitcoin, I still think $0.50 or even $2 is very cheap for litecoin. I've been following price action closely lately and just like with bitcoin, massive buys are being made whenever there is a big dip. I think it could tank for awhile to $0.50 or $0.25, but in the medium term I see a lot of upside and little downside.

Unlike some others I don't think LTC is much of a hedge against a BTC crash. I think their fates are tied together, at least for now.

Can btc do this?  https://www.ltcasics.com/index.php?route=product/product&path=59_60&product_id=95

Yes exactly now watch the interest 

micro-transactions.

by averting the credit card companies, bitcoin and litecoin make microtransactions a much more spur of the moment possibility.

once the idea of microtransactions starts to catch on more deeply in the fiat world, the benefits of using our currency for them will make alot of people sit up and take notice.

so we should brainstorm ways to make everything a possible micro-transaction.

With great respect, I don't buy this theory I keep reading. 1 LTC = 0.25 BTC only if a litecoin is identical to a bitcoin. But it's NOT. They are very similar, but Litecoin has differences which actually give it some extra strengths.. faster confirmations, fairer mining, a cleaner public image (no silk road) etc. I hope people take on board what I say as I don't want a misconception to become common expectation.

 

I know. That Wiki article is ridiculous. It was actually the first thing I ever read about LTC and I left the article thinking LTC was a scam of some sort. It's only when I found unbiased facts that I realised the truth, that litecoin has enormous potential and a definite place alongside bitcoin.

+1

and someone should petition the bitcoin wiki to remove the inflammatory suggestion that LTC is a pyramid scheme. It is structured just like BTC, so this statement makes everybody look bad.

That sounds like the same kind of thinking that has people expecting GRouPcoins to be worth one thousand DeVCoins.

But consider relative difficulty. GRouPcoins are much much lower difficulty than DeVCoins so although only 1/1000th as many are minted, it is much much easier to mint them.

Plots of their relative prices are at http://galaxies.mygamesonline.org/digitalisassets.html

-MarkM-

Exactly

You have to consider how few Bitcoin+Litecoin there really will be take them both at around 100 million coins, to be generous that's 2 months mining production of silver (120 million oz) 1oz silver = $29. Sliver being produced at 700-800 million oz each year every year.

A straight comparison of bullion-cryptocoins can't really be made, bullion is great to save,store. Cryptocoins are bound to have a place as long as there is internet as a a low friction payment vehicle.