the $50 will come down to the Chinese and how they will perform in the following days. it has always been like this.
remember the LTC halving pump? liteocin was on a good path up and suddenly someone over in China let lose of the bags on the market and crushed the price
as if they don't know why a slow sell to get most profit means!
but so far we are good and the rise seems to be starting. hope to see LTC go higher, it really deserves it more than the rest of them.
Litecoin offered no compelling need to exist before the SegWit impasse. Now it has a very, very important reason to exist.
Chinaman mining industry was keeping Litecoin low to prevent any serious competition to Bitcoin, and to prepare to have the power that they have now to incentivize activation of compelling protocol changes by allowing the LTC price to rise which causes ASIC demand to outstrip supply. I explained the dynamics upthread. The mining industry makes a huge profit with this move. The Chinaman is a chess player.
Re-reading all my posts (and clicking all links in posts) in this thread and the
other thread, will bring holistic understanding.
@franky1 those who
manufacture Scrypt ASICs and those who have pre-ordered the new generation of Scrypt ASICs will also profit.
You might be correct that Antpool is the odd man out, but creating more demand for
limited fab space probably means their existing stock of ASICs becomes more valuable. When mining farms for Bitcoin (or Litecoin) can't ramp up difficulty fast enough to keep up with price rises, then all existing miners earn more profit throughout the industry.
By eliminating the stalemate on Bitcoin by getting SegWit activated on Litecoin, this frees up Bitcoin to move to $2000+ because scaling will be provided by the ecosystem. And
I already explained in the other thread that the tail doesn't wag the dog in finance, thus scaling on Litecoin will drive demand for Bitcoin up by the power brokers who must use Bitcoin (because of the reasons I stated).
I am not sure how Bitcoin traders will initially react to scaling going exclusively to Litecoin, maybe they might sell Bitcoin, but later they will come to understand that Bitcoin grows as its altcoins grow. The ecosystem is symbiotic. MPEx the Bitcoin options and stock exchange was capturing a percentage of all the speculation waves in all altcoin tokens, not just Bitcoin.
