Topic: Litecoin had it? (Read 1358 times)
Its just one side of the sentiment. Wait until everyone jumps on a moving train again. Its so predictable.
Anyway, I think it's good time to buy some litecoins now
I keep looking at the Litecoin price and it keeps going down. I know that recently Bitcoin are worth a lot so I assume the logic might be, if Bitcoin is doing well then why do we need Alt coins quite so much? But Litecoin was dropping before this recent price rise. So are people loosing interest in it?
I've noticed the value of litecoin seems to be anchored to fiat, so if the value of BTC goes up, the LTC/BTC exchange rate goes down.
The following numbers are off the top of my head so I might not be remembering perfectly, but
Back when Bitcoins were $90, Litecoins were around $2.88. That's 0.032 of $90, and so one litecoin was worth 0.032 of a Bitcoin. When the price of Bitcoins went up to $105, the USD value of Litecoins stayed about the same and LTC/BTC ratio went down to around 0.027.
Now the USD price is around $2, which is a bit of a drop from $2.88, but I think the biggest reason the LTC/BTC rate has dropped is that Bitcoin is now worth more than twice what is was before, so one Bitcoin is worth twice the amount of Litecoin it used to be.
The following numbers are off the top of my head so I might not be remembering perfectly, but
Back when Bitcoins were $90, Litecoins were around $2.88. That's 0.032 of $90, and so one litecoin was worth 0.032 of a Bitcoin. When the price of Bitcoins went up to $105, the USD value of Litecoins stayed about the same and LTC/BTC ratio went down to around 0.027.
Now the USD price is around $2, which is a bit of a drop from $2.88, but I think the biggest reason the LTC/BTC rate has dropped is that Bitcoin is now worth more than twice what is was before, so one Bitcoin is worth twice the amount of Litecoin it used to be.
To loosely quote John Templeton,
"The principle of maximum pessimism. Buy when everyone is most pessimistic."
So I hope to see more of these threads attacking Litecoin. It just makes it cheaper for me
No Litecoin aint dead.
Yes, the more crypto currency options the better.
...err... on second thought... SELL, SELL, SELL. Everyone sell your Litecoins. Just to help you out, and with no profit motive whatsoever, I'll take them off your hands at these cheap prices.
"The principle of maximum pessimism. Buy when everyone is most pessimistic."
So I hope to see more of these threads attacking Litecoin. It just makes it cheaper for me
No Litecoin aint dead.
Yes, the more crypto currency options the better.
...err... on second thought... SELL, SELL, SELL. Everyone sell your Litecoins. Just to help you out, and with no profit motive whatsoever, I'll take them off your hands at these cheap prices.
another +1 thread...yay!
+1 
Litecoin is not a has been. It is still shinning and will continue to. Hopefully people will realize this too.
and its on a good way. price is volatile. even in btc thats the case.
another +1 thread...yay!
I dont touch this shit anymore!
Litecoin is not a has been. It is still shinning and will continue to. Hopefully people will realize this too.
do you get paid to start these threads?
Me? Nope, just interested in Bitcon etc.
do you get paid to start these threads?
Your right, I dont believe we need alternate cryptocurrencies, Bitcoin works well.
Maybe Alternative Coins section would be better place for this thread
Maybe Alternative Coins section would be better place for this thread
I didn't say we didn't need them, I just thought that in terms of market price, an increase in Bitcoin confidence naturally means that other currencies should go down.
Someone need to do something with Litecoin... or else it would just slowly die off..
Your right, I dont believe we need alternate cryptocurrencies, Bitcoin works well.
Maybe Alternative Coins section would be better place for this thread
Maybe Alternative Coins section would be better place for this thread
I didn't say we didn't need them, I just thought that in terms of market price, an increase in Bitcoin confidence naturally means that other currencies should go down.
I keep looking at the Litecoin price and it keeps going down. I know that recently Bitcoin are worth a lot so I assume the logic might be, if Bitcoin is doing well then why do we need Alt coins quite so much? But Litecoin was dropping before this recent price rise. So are people loosing interest in it?
What people need now is to add protocol layers on top of Bitcoin. The reason Litecoin is now becoming useless is because of Mastercoin and Colored Coin. If Mastercoin works then you can create any currency on top of Bitcoin as well as do a decentralized exchange similar to Forex, as well as futures, smart property and derivatives.
Future alt coins will either adopt similar functionality with Colored Coin or they'll be built on top of Bitcoin through Mastercoin. Litecoin is lagging behind in figuring out how to differentiate themselves from Bitcoin and they make that mistake at their own peril. I support Litecoin because I see advantages to having it but I would like to see some innovation.
Go to https://bitcointalksearch.org/topic/mastercoin-new-protocol-layer-starting-from-the-exodus-address-265488 and http://www.mastercoin.org
Your right, I dont believe we need alternate cryptocurrencies, Bitcoin works well.
Maybe Alternative Coins section would be better place for this thread
Maybe Alternative Coins section would be better place for this thread
I didn't say we didn't need them, I just thought that in terms of market price, an increase in Bitcoin confidence naturally means that other currencies should go down.
Your right, I dont believe we need alternate cryptocurrencies, Bitcoin works well.
Maybe Alternative Coins section would be better place for this thread
Maybe Alternative Coins section would be better place for this thread
I keep looking at the Litecoin price and it keeps going down. I know that recently Bitcoin are worth a lot so I assume the logic might be, if Bitcoin is doing well then why do we need Alt coins quite so much? But Litecoin was dropping before this recent price rise. So are people loosing interest in it?
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