Litecoin demonstrates how ridiculous Bitcoin is

El Cabron

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Quote from: rampalija on November 02, 2013, 07:37:51 AM

Quote from: El Cabron on October 30, 2013, 04:23:01 PM

Quote from: Wekkel on October 30, 2013, 04:21:07 PM

Quote from: El Cabron on October 30, 2013, 01:53:45 PM

Quote from: Netnox on October 30, 2013, 11:14:06 AM

LTC is awesome just like BTC. At the end it's about making money regular people dont give a shit technically. A friend of mine is going buy tons of LTC he doesnt care about the slight techinal things, he think its legit enough and worth investing and sees it from a different perspective than the techy kids who think they represent the crypto elite with their silly predictions Cheesy

LTC has value cuz people think it does. Same with BTC.

Litecoin Devs are putting out some crazy stuff lately, helping development of Bitcoin as well. I have a lot of confidence in Altcoins. It has not even started yet for cryptos.

Most of the LTC haters do not even know what the LTC dev team is doing. They are happy at just calling it the same as BTC when it is clearly not. LTC might get better than BTC but I still think it will never be the main coin (unless BTC breaks)

BTC will not break, but check out the LTC price in $ when BTC was 120+ $, and check it now. How much LTC decreasd in $ a little. PPL dont see a poent

BTC broke before many times, and so far has been fixed every time. Will get get fixed next time? I sure hope so but if not for me, I have a back up...

Some people buy LTC for speculation, it is a good tool to use to get "money" out of BTC and into something else other than dollars. You can see that when BTC goes up, LTC now goes down. This trend happened after we jumped from 5 cents to $6.

most of the arguments used against LTC and the same ones normal people use to attack BTC. Sad as it is both crypto :/

Will coinbase, mt gox and others start using LTC? Maybe? Will the LTC devs keep working on LTC and making it better? Sure.

Honestly I am glad I have both and if one of them dies I will be looking for a new back up no matter what. I guess it is just my nature.

rampalija

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Quote from: El Cabron on October 30, 2013, 04:23:01 PM

Quote from: Wekkel on October 30, 2013, 04:21:07 PM

Quote from: El Cabron on October 30, 2013, 01:53:45 PM

Quote from: Netnox on October 30, 2013, 11:14:06 AM

LTC is awesome just like BTC. At the end it's about making money regular people dont give a shit technically. A friend of mine is going buy tons of LTC he doesnt care about the slight techinal things, he think its legit enough and worth investing and sees it from a different perspective than the techy kids who think they represent the crypto elite with their silly predictions Cheesy

LTC has value cuz people think it does. Same with BTC.

Litecoin Devs are putting out some crazy stuff lately, helping development of Bitcoin as well. I have a lot of confidence in Altcoins. It has not even started yet for cryptos.

Most of the LTC haters do not even know what the LTC dev team is doing. They are happy at just calling it the same as BTC when it is clearly not. LTC might get better than BTC but I still think it will never be the main coin (unless BTC breaks)

BTC will not break, but check out the LTC price in $ when BTC was 120+ $, and check it now. How much LTC decreasd in $ a little. PPL dont see a poent

El Cabron

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Quote from: Wekkel on October 30, 2013, 04:21:07 PM

Quote from: El Cabron on October 30, 2013, 01:53:45 PM

Quote from: Netnox on October 30, 2013, 11:14:06 AM

LTC is awesome just like BTC. At the end it's about making money regular people dont give a shit technically. A friend of mine is going buy tons of LTC he doesnt care about the slight techinal things, he think its legit enough and worth investing and sees it from a different perspective than the techy kids who think they represent the crypto elite with their silly predictions Cheesy

LTC has value cuz people think it does. Same with BTC.

Litecoin Devs are putting out some crazy stuff lately, helping development of Bitcoin as well. I have a lot of confidence in Altcoins. It has not even started yet for cryptos.

Most of the LTC haters do not even know what the LTC dev team is doing. They are happy at just calling it the same as BTC when it is clearly not. LTC might get better than BTC but I still think it will never be the main coin (unless BTC breaks)

Wekkel

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yes

Quote from: El Cabron on October 30, 2013, 01:53:45 PM

Quote from: Netnox on October 30, 2013, 11:14:06 AM

LTC is awesome just like BTC. At the end it's about making money regular people dont give a shit technically. A friend of mine is going buy tons of LTC he doesnt care about the slight techinal things, he think its legit enough and worth investing and sees it from a different perspective than the techy kids who think they represent the crypto elite with their silly predictions Cheesy

LTC has value cuz people think it does. Same with BTC.

Litecoin Devs are putting out some crazy stuff lately, helping development of Bitcoin as well. I have a lot of confidence in Altcoins. It has not even started yet for cryptos.

El Cabron

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Quote from: Netnox on October 30, 2013, 11:14:06 AM

LTC is awesome just like BTC. At the end it's about making money regular people dont give a shit technically. A friend of mine is going buy tons of LTC he doesnt care about the slight techinal things, he think its legit enough and worth investing and sees it from a different perspective than the techy kids who think they represent the crypto elite with their silly predictions Cheesy

LTC has value cuz people think it does. Same with BTC.

Netnox

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LTC is awesome just like BTC. At the end it's about making money regular people dont give a shit technically. A friend of mine is going buy tons of LTC he doesnt care about the slight techinal things, he think its legit enough and worth investing and sees it from a different perspective than the techy kids who think they represent the crypto elite with their silly predictions Cheesy

rampalija

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Quote from: El Cabron on October 29, 2013, 06:36:24 PM

Quote from: MicroGuy on October 29, 2013, 06:27:25 PM

Quote from: El Cabron on October 29, 2013, 06:05:50 PM

BTC will be the gold standard, assuming it does not fork it self up.

The "gold standard" is actually the digital currency with a newly invented 51% defense system, something bitcoin and litecoin sorely lack.

https://en.wikipedia.org/wiki/Goldcoin

lol, welcome to my ignore. hijack spam really is fail.

LOOOL :d

El Cabron

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Quote from: MicroGuy on October 29, 2013, 06:27:25 PM

Quote from: El Cabron on October 29, 2013, 06:05:50 PM

BTC will be the gold standard, assuming it does not fork it self up.

The "gold standard" is actually the digital currency with a newly invented 51% defense system, something bitcoin and litecoin sorely lack.

https://en.wikipedia.org/wiki/Goldcoin

lol, welcome to my ignore. hijack spam really is fail.

MicroGuy

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Quote from: El Cabron on October 29, 2013, 06:05:50 PM

BTC will be the gold standard, assuming it does not fork it self up.

The "gold standard" is actually the digital currency with a newly invented 51% defense system, something bitcoin and litecoin sorely lack.

https://en.wikipedia.org/wiki/Goldcoin

El Cabron

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Quote from: sumantso on October 29, 2013, 09:19:24 AM

Play it well and you end up with more BTCs.

Well that did work for me but that was not my end goal. Just never want to be with out useable crypto.

El Cabron

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Quote from: DeathAndTaxes on October 29, 2013, 01:18:59 PM

Quote from: chrsjrcj on October 29, 2013, 07:49:56 AM

Litecoin shouldn't be looked at as silver while Bitcoin is gold. Others have brought up how easily divisible Bitcoin is compared to gold. I own a 1/10 oz gold piece that's about the size of a penny. It's worth about $130. Since it's already the size of a penny, it's impractical to divide any smaller...that's where silver (or copper) come in.

Instead, Litecoin and Bitcoin should be looked at as MasterCard vs. Visa. Most merchants accept both (except for my local DMV which only accepts MasterCard...go figure) and they both serve the same purpose.

That is a possible scenario for LTC however I would say the proof is in the pudding. Where is the LTC equivalent of coinbase, bitpay (and competitors), BitInstant, etc. People genuinely believed in Bitcoin far beyond what they could pump and dump to invest equity both the $$$ kind and the sweat kind to bring services to Bitcoin. It is those infrastructure services which will lay the foundation for broad merchant adoption.

LTC on the other hand is buy some LTC, claim it is silver to BTC gold and wait for a double to sell. Imagine if Mastercard hadn't done any work to build a network, recruit merchants, compete with VISA for mindshare, etc. It was just a brand nobody accepted and they went around claiming "Mastercard silver to VISAs gold".

BTC has had a bit of a head start on LTC. Who is to say these things are not in the works? Gox will sell LTC. Coinbase is thinking about adding LTC support. Other stuff is going on. Come back in a year and things might be very different. If not, then you might be right.

Like it or not there are people with a lot of money building stuff up for LTC.

Still, I never expect LTC to even come close to replacing or equaling BTC. LTC might one day be used more for micro transaction cuz faster/cheaper but BTC will be the gold standard, assuming it does not fork it self up.

DeathAndTaxes

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Gerald Davis

Quote from: chrsjrcj on October 29, 2013, 07:49:56 AM

Litecoin shouldn't be looked at as silver while Bitcoin is gold. Others have brought up how easily divisible Bitcoin is compared to gold. I own a 1/10 oz gold piece that's about the size of a penny. It's worth about $130. Since it's already the size of a penny, it's impractical to divide any smaller...that's where silver (or copper) come in.

Instead, Litecoin and Bitcoin should be looked at as MasterCard vs. Visa. Most merchants accept both (except for my local DMV which only accepts MasterCard...go figure) and they both serve the same purpose.

That is a possible scenario for LTC however I would say the proof is in the pudding. Where is the LTC equivalent of coinbase, bitpay (and competitors), BitInstant, etc. People genuinely believed in Bitcoin far beyond what they could pump and dump to invest equity both the $$$ kind and the sweat kind to bring services to Bitcoin. It is those infrastructure services which will lay the foundation for broad merchant adoption.

The "LTC gameplan" on the other hand is: 1) buy some LTC, 2) claim it is silver to BTC gold 3) Huh

4) profit. If the LTC "boosters" really believed what they were saying they would be taking out loans, quiting their day jobs and starting the next big thing for LTC. Except they don't. Imagine if Mastercard hadn't done any work to build a network, recruit merchants, compete with VISA for mindshare, etc. It was just a brand nobody accepted and they went around claiming "Mastercard silver to VISAs gold".

It's stock chart would look very similar to LTC exchange rate chart.

sumantso

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Quote from: rampalija on October 29, 2013, 08:15:02 AM

For me LTC is a small brother of BTC, and they are bound together. But btc can survive without LTC and LTC cant

At present LTC is just pump and dump. Play it well and you end up with more BTCs.

rampalija

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For me LTC is a small brother of BTC, and they are bound together. But btc can survive without LTC and LTC cant

Buffer Overflow

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Quote from: chrsjrcj on October 29, 2013, 07:49:56 AM

Instead, Litecoin and Bitcoin should be looked at as MasterCard vs. Visa. Most merchants accept both (except for my local DMV which only accepts MasterCard...go figure) and they both serve the same purpose.

Good point. This Bitcoin gold, Litecoin silver is just a clever marketing ploy.

chrsjrcj

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Litecoin shouldn't be looked at as silver while Bitcoin is gold. Others have brought up how easily divisible Bitcoin is compared to gold. I own a 1/10 oz gold piece that's about the size of a penny. It's worth about $130. Since it's already the size of a penny, it's impractical to divide any smaller...that's where silver (or copper) come in.

Instead, Litecoin and Bitcoin should be looked at as MasterCard vs. Visa. Most merchants accept both (except for my local DMV which only accepts MasterCard...go figure) and they both serve the same purpose.

sumantso

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Quote from: BitcoinWalker on October 29, 2013, 03:00:21 AM

Quote from: Buffer Overflow on October 29, 2013, 02:40:27 AM

Quote from: BitcoinWalker on October 29, 2013, 01:59:43 AM

Quote from: Buffer Overflow on October 29, 2013, 01:53:01 AM

Quote from: BitcoinWalker on October 29, 2013, 01:37:51 AM

LTC price is still low enough so that room for increasing its value is huge.

On the other hand there is plenty of room to drop more.

Who cares when LTC price drops down to 1 USD/LTC from its current price of 2 USD/LTC (that represents 50% of loss)? Now what happens if BTC price loses about 10% of its value? Do you see the maths here?

Who cares? Well the Litecoin holders will care for starters.

So your saying it's better to take a 50% loss rather than a 10% one? Shocked

Definitely no. Its all about how you want to handle risks. If you are risk averse, then LTC can be a good thing to invest. If you are willing to take risk, then go with BTC. Higher risks are associated with higher margins of profits/losses and vise versa. Easy to understand, right? Wink

Its the opposite. BTC is lower risk. LTC is higher risk with a chance of a higher reward.

BitcoinWalker

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$Gangnam works hard, so you don't have to.

Quote from: Buffer Overflow on October 29, 2013, 02:40:27 AM

Quote from: BitcoinWalker on October 29, 2013, 01:59:43 AM

Quote from: Buffer Overflow on October 29, 2013, 01:53:01 AM

Quote from: BitcoinWalker on October 29, 2013, 01:37:51 AM

LTC price is still low enough so that room for increasing its value is huge.

On the other hand there is plenty of room to drop more.

Who cares when LTC price drops down to 1 USD/LTC from its current price of 2 USD/LTC (that represents 50% of loss)? Now what happens if BTC price loses about 10% of its value? Do you see the maths here?

Who cares? Well the Litecoin holders will care for starters.

So your saying it's better to take a 50% loss rather than a 10% one? Shocked

Definitely no. Its all about how you want to handle risks. If you are risk averse, then LTC can be a good thing to invest in. If you are willing to take risk, then go with BTC. Higher risks are associated with higher margins of profits/losses and vise versa. Easy to understand, right? Wink

Wekkel

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Switch your time reference to 2018 and suddenly the price swings do not mean anything.

Buffer Overflow

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Quote from: BitcoinWalker on October 29, 2013, 01:59:43 AM

Quote from: Buffer Overflow on October 29, 2013, 01:53:01 AM

Quote from: BitcoinWalker on October 29, 2013, 01:37:51 AM

LTC price is still low enough so that room for increasing its value is huge.

On the other hand there is plenty of room to drop more.

Who cares when LTC price drops down to 1 USD/LTC from its current price of 2 USD/LTC (that represents 50% of loss)? Now what happens if BTC price loses about 10% of its value? Do you see the maths here?

Who cares? Well the Litecoin holders will care for starters.

So your saying it's better to take a 50% loss rather than a 10% one? Shocked

Topic: Litecoin demonstrates how ridiculous Bitcoin is (Read 4805 times)