Topic: Litecoin Is NOT Dead (It Is Just Dying A Slow Death) - page 8. (Read 28336 times)

that is true! pump n dump!

Your experience selling 300kh hardware released in February does not give you any specific or applicable knowledge about numbers related to the latest 80mh hardware.

The point of the Dogecoin reference is to help you with your definition of "pitiful."


First of all, what is profitable for someone with 5mh is not the same as what is profitable for someone with 50, in coin switching. The coins they mine are so illiquid that coins sit unexchanged and often by the time the market absorbs them, the price has been driven down to the point where it was less profitable. Yes, I have firsthand experience with this dynamic. Profit switching is only going to get worse.


When the option to find another more profitable coin to mine is no longer there, dumping will no longer be economically feasible. Hoarding will force price to move, as long as the increased strength and growth stimulates interest and press (which it will). It is not a direct correlation, it is symptomatic. Demand drives price. Security and reliability (strength) drives demand.



Don't mix arguments. Price following difficulty or not has zero bearing on the calculation of how much money has been put into hardware infrastructure in the last 6-8 weeks.

You spend a lot of time justifying your points with "everyone knows." The discussion about energy efficiency is not germane to the discussion of security, either. Bitcoin doesn't get it wrong.This supposition you seem to have that we need something with more bells and whistles is symptomatic of the "pump and dump" mentality that has overrun alt coins, where some trivial or pointless (or untenable) "feature" is used to craft a plausible story to back a "pump." They are all houses of cards.

I know you won't be convinced, and I don't feel compelled to try and sway you. You are just wrong , and your conclusions are based not on precedent and facts, but emotional conjecture and, I assume, a motivation (conscious or otherwise) to pump your new favorites by discrediting the reigning #2. You're barking up the wrong tree.

You like repeating yourself don't you? You like telling the world how stupid and horrible of a person I am over and over. Yet, you can't refute most of my arguments in this thread.. you just ignore them. Funny how that works. I am pretty sure you keep doing because you think I will stop if you keep telling people about all the "horrible" things I've done. That's not going to happen Smoothie, why don't you man up and refute my arguments?

You bring up history as if everything in the past happens the same way in the future, and as if the dynamics haven't vastly changed since two years ago. You are so invested and have been supporting Litecoin you hate to see it fail, you hate that I am pointing out why Litecoin is a crap coin, and you have a personal vendetta against me since I called your physical Litecoins overpriced. Just admit it bro, everyone can tell.  

My original choices of crypto coin investments have gone up a lot in value... Bitcoin and Litecoin. However, as I've stated a lot has changed since then and the free market is reflecting that. You are simply in denial. I have had a few things happen to me in the past couple years that I had to cash out my coins to FIAT... shit happens. Yeah, I didn't get rich but it doesn't mean that I was wrong and now everything I have to say is invalidated. Maybe to you it does, but I am sure that everyone else can read what I have to say and see the sense in it. Again, look at what the free market has decided. If I am such an idiot, prove me wrong.  


You guys haven't convinced me that I'm wrong yet. TheMage is the only one that has put a valid effort forward to do so. I will retreat and admit I am wrong if you can do so. All you seem to be able to do it point at me say "he's dumb dumb, he's bad man, no listen to him."


What do you mean by this?


I've been the most thorough person in this thread when it comes to what I believe, lol @ "I won't give you an accurate indication of what I think". I've explained everything very clearly, you must not be able to read?

If I don't know what I'm talking about, then point out how I am wrong.



You don't know my life story, a lot of things have happened to me over the past couple years. Sorry I couldn't sit on a big pile of coins like your holyness Smoothie. Apparently almost being homeless is not an excuse to Smoothie for going MIA. I am not a bad person, I am back and trying to work everything out and pay my debts. Scammers don't do that.

Again, the dynamics have changed a lot since then, and you have not been able to prove me wrong. You can only sling personal insults at me instead of pointing out how I am wrong. It's the same argument over and over, that's literally all you have on me since you can't refute my arguments.


You don't know my life story, we are not friends. I believe in what I am saying, until someone points out to me why specifically that I am wrong. Again, all you can do is insult me.


That's like saying I like girls as long as they are skinny, average weight, and fat. You just described every crypto currency in existence that wasn't a scam. Does that mean they are all good investments?


Literally all you can do is insult me, you can't refute my arguments. You are really making a good argument for Litecoin.  

The reason why I started this thread was because you were talking shit about me, and also talking shit about my reason for leaving Litecoin. I am proving that I had real reasons why not to support Litecoin anymore. All you do is ignore them and insult me. It is obvious to everyone that you can't refute my arguments, as Litecoin continues to drop like a rock.

1. It's not a theory
2. Yes it is true

If price does not always follow difficulty, that means price doesn't follow difficulty. IF price goes down while difficulty goes up, how can you say price follows difficulty? Answer: You can't unless you want to ignore all the times that it doesn't. To state otherwise is blasphemy.

Perhaps you could say "sometimes price follows difficulty", but the statement "price follows difficulty" is not true. There are many other factors at play than simply difficulty as I stated, funny how you ignore that. You guys just cherry pick things that suite your argument, and I address every point you bring up. I have brought up a lot of good points ITT that you guys continually ignore.

Funny hearing this from you who likes to generalize where "you guys" (as you put it) stand when it comes to the topic of Litecoin and its #2 spot and all of your myths etc etc.

If anyone is thinking that Coinhoarder claims to know how the Litecoin market works and can foresee what that market will be doing in the future of its target market (even from past predictions)...don't you think the guy would actually be able to have something in terms of success or profit that he could show as proof that he indeed knows what he is talking about?

I would think so.

All I hear in this thread from the OP is:

1. "My view on the LTC market is clear and you should take what I say seriously."

2. "My view although pretends to be a pinpoint of what I am trying to get across is actually one foot in the door and one foot out the door."

3. "I won't give you any accurate indication of what I think other than to generalize and put people into stereotypes in an attempt to be passively agressive all the while attempting/pretending that I know what I am talking about."

4. "I've made bad business decisions and personal life decisions yet even though these relate to the LTC market in some way, I still believe I am right even though I have not put anything on the line in terms of risk that has given me success in my predictions to show as proof that I do know what I am talking about. In fact the opposite has happened. I am broke, my business is in the gutter and I have nothing to show for it that my knowledge of how the LTC market works and how it will be in the future is accurate."

Anyone claiming "I know that LTC will fail and I have yet to be proven wrong" or "My predictions of the LTC market have been SPOT ON" and still has nothing to show for it but lame excuses for going MIA with his customers waiting and making promises of other projects that have yet to be paid out in terms of a bounty, is a wanna-be.

Actions will always speak louder. If you are successful in your predictions of a market and you believe those predictions yourself and not just say them to sound smart, you will see opportunity and capitalize on it and not just sit around flailing and failing on current businesses and past projects.

Cryptography altogether is a genie out of a bottle. Whether LTC fails or succeeds is irrelevant. I support LTC and will continue to do so as long as I see value in the network protocol and it also as a payment mechanism.

One last note: Coinhoarder what ever happened to this?


It doesn't surprise me that your word means nothing even in a statement like that.

People do your own due diligence when attempting to garner information/wisdom from another person here as many like to say things and not back it up with actions. Talk is cheap.

 

Go back 10 months to August 2013 where difficulty kept rising and rising for 3 months straight which in turn pulled the price up in is own way.

Your theory doesn't always hold true. If you were around as long as I have you would know that your bolded statement isn't 100% true.

LTCs are very very low but it isn't entirely dead.

I think it will be completely desintegrated by the next 1-2 weeks, just wait a little more before buying a ticket to the moon...

I would not invest in over 50% of the coins that are listed in my innovative crypto currency thread, the actual percentage is probably much higher than that if I were to go through and figure out an exact number. It is not investment advice, and I agree that just because something is innovative doesn't make it a good investment.

It is meant to be a list of changes and/or improvements to Bitcoin, or completely new cryptocoins. After a few years of people releasing innovative coins, it will help developers in the future figure out what has been done before, what hasn't been done, what could be done better, etc.. it is basically just a resource for people developing new coins.

It is also meant as a starting point for looking into different coins to invest in, but more research needs to be done on each coin to come to a conclusion. As I said, I myself would not invest in most of the coins on that list, but I certainly would invest in a handful of those coins before I invested in Litecoin.

uh oh - we will leave that one well alone.

yes if you say so. i can't disagree with what ever you decide to invest in. that's your choice.

**edit ok i just looked at your link there i can see you have emuni and other things on there, i don't doubt that these are certainly innovative, however distribution will be an issue.

i can't say for certainly that they will get it right or wrong, so to that degree i agree with you.

I mostly agree with your post too, however I am getting really annoyed with everyone repeating the notion that all PoS coins and IPOs are scams. Some of them are sure, but not all of them and it is wrong to generalize them like that. Each of them need to be analyzed separately.

I'd venture to say I have a better idea of how much hardware has been sold than you, seeing as though I used to distribute Gridseed mining hardware, and had contacts high up on the food chain in those regards. Sure, I agree a 10% increase is pitiful compared to a 120% increase, but anyone that knows anything knows that Dogecoin is crap so I'm not sure what your point is in that comparison.


Actually.. people that are mining on multi pools are usually making more profit than people mining purely Litecoin. It is ridiculous to refute this fact, if you had any hands on experience then you would know so. Sure they have less liquidity, but it doesn't mean a higher profit can't be made mining something other than Litecoin, in fact it is a preposterous statement to say that multi pools are less profitable than purely mining Litecoin, or any coin for that matter. The same could be said for sha256 mining. If you aren't making more money in the long term on a multi pool, then you are on a crappy multi pool. Not all multi pools are as profitable as others due to the different techniques used.


Ok, so you're not a noob, but you are clueless if you think price follows difficulty. You are ignoring all the money flowing into the infrastructure of Bitcoin. You are so focused on mining hardware that you can't realize the big picture. With Bitcoin much more of that money was also spent on things such as payment processors, exchanges, services, and protocols on top of Bitcoin. This isn't happening with Litecoin on the same scale it is happening with Bitcoin, at least not to the tune of hundreds of millions of dollars like Bitcoin. The reason for the price hike was many factors, and you seem to be insinuating that it is purely because of Bitcoin ASICs which is a ludicrous statement. Look in the project development and development subforums here and compare it to the Litecoin forums... a large percentage of money going into Litecoin is going into purely mining hardware, whereas with Bitcoin its being spread around all over the place. Stop acting like you have it all figured out when you are obviously clueless.

If price follows difficulty, then tell me why the Bitcoin price has not followed this trend the past 6 months? https://blockchain.info/charts/hash-rate

If you want more examples, they are numerous and I would be happy to provide them to you. It would be easier if you just did the research yourself though.

If this is true, I will concede a point to you here. I haven't checked in a long time, but how I said it was how it used to be ever since multi pools came on the scene. I don't really care much about how secure Litecoin is anymore honestly.


That's all good and nice, and it would be applicable to the debate if price followed difficulty. However, your statement is based on a flawed premise that price follows difficulty, and that mining hardware investments for Bitcoin are the only reason Bitcoin's price has gone up. When in fact it has been proven over the years during the numerous ups and downs that price does not follow difficulty, and also ignoring all the money going into many different aspects of the Bitcoin infrastructure.. not just mining hardware.

Furthermore, Litecoin having the most secure ALT coin network is a flat out lie. Most of the coins in the top 10 market cap are not Scrypt coins. Sure, you have the most secure SCRYPT alt coin. Everyone knows pretty much all Scrypt coins are crap, so you guys are like king of the crap coins. Congratulations, that's a huge accomplishment. The newer more innovative coins don't need to waste millions in electricity spitting out useless strings of data to secure their block chains, meanwhile subjecting their miners to pre-order scams and shady mining manufacturers. Nor do they have to worry about centralization of the network further down the road like all ASIC mine-able coins will have to succumb to.

MUST SEE! litcoins new song https://www.youtube.com/watch?v=3BZt6lumdlQ&app=desktop

I just wanted to point out that I like some of the long term points made.

I'm for LTC.

i don't disagree with a lot of what you stated - and of course price does not chase difficulty however LTC at the moment is a better prospect than BTC so where does that leave us?

it soon becomes apparent that there are many "crypto scams" and few crypto currencies, if you take all the

obvious scams
PoS.
IPO.
and now ASIC driven crypto

out of the field,

what list do you have left?

its not a big one.

which to me is a perfect example of where crypto currency is at the moment, and actually is why i get quite bullish on the whole field.

You have no idea how much hardware has been sold (and in what MH/s), first of all...so you're not in a position to make a judgment on whether the hashrate increase is "pitiful" relative to it. You could look at Dogecoin's 10% increase compared to Litecoin's 120% increase in the same amount of time and call THAT pitiful, though.

Coin switching pools are not much more profitable than Litecoin...the reason being, the coins being mined are illiquid. Dump a significant amount and you crash the market for them. Their profitability due to gravity well and Digishield are a constantly moving target. As Litecoin's network expands in strength, it'll become clear that these alts are a waste of time and hashrate.

I'm no noob, I've been watching on a daily basis since early 2013. I've seen what has happened with Bitcoin. Miners continue to pour money into Bitcoin hardware to maintain their footprint in the network. The same will happen with Litecoin. But if you don't see how growth attracts money, I don't know how I can make this point to you. It's what the stock market is built on and it's what triggered Bitcoin's explosive growth. It became something far more than just "hobbyists mining a digital coin on their gaming PC."

If you actually went and did what you proposed and combined the total nethash of all competing Scrypt coins right now on Coinwarz, they MIGHT amount to half of Litecoin's nethash.

And by the way...don't fix my post when you don't know what you're talking about. That $30million number I posted was calculated based on the increase in Litecoin's network hashrate since the introduction of the 80MH/s models from Innosilicon, Zeusminer and Silverfish at an average wholesale cost of $9000 per 80MH/s device. I know you fancy yourself quite the know-it-all here, but you don't have your facts straight.

Because it somehow worked for BTC ASICs, it must work for LTC too  . If LTC were a corporation, there would have been widespread shakedown at the top for their decisions, not to mention litigation for false advertisement, and condemnation for repulsive salespersons.

That $30 million in ASIC hardware deployment is not the first example of money being taken away from dumb hands and it won't certainly be the last. Either way it is hardly a sign of revival.

FYP

Anyways.. if you would have been around as long as I have, you would realize that price does not follow difficulty. It doesn't happen that way with Bitcoin, and I am sorry that Litecoin is no exception. Any old timers can back me up on this statement, noobs always think that is true and proclaim it to be so until they realize that it is not.

A 340% increase is pitiful when taking into account all of the Scrypt mining hardware that has been sold, further proof that most people mine purely for profit and could give two shits about protecting Litecoin's network. Multi pools and the newest pump and dump scams have much more hash power behind them when combined and compared to Litecoin's hash rate.


I don't expect you guys to give up, in fact I always expected the opposite. The problem is that you guys ignore honest criticism and brush it off as trolling.

You haven't been able to sufficiently counter mine, either. Not with facts, anyway...just with counter-suppositions and prognostications.

Sorry, but the fact that around $30 million has been put into dedicated hardware infrastructure in Litecoin over the course of the last 6-8 weeks and a 120% increase in nethash since May 1st (around 340% since January) says more to me than some guy bellowing "Litecoin is dead" on a forum.

It's a good thing people haven't listened to those proclaiming "Bitcoin is dead" every time it had a significant price drop.

The marketing initiatives you are talking about are a preparation for the increase in attention Litecoin is about to receive, when the network blows up over the summer...and it's about to. It's about positioning. Or, we could just passively sit around and say, "CoinHoarder's right, it's all over" in the face of overwhelming evidence to the contrary. But that wouldn't be terribly smart.

Ya there can't be any other reasonable explanation for people not seeing value in Litecoin...  

No one has been able to sufficiently counter my arguments, and Litecoiners are still ignoring that the free market agrees with me.

Litecoin is in denial. They are busy putting band aids on a gushing wound (new slogan, logo, video, etc.)

You guys will soon figure out that you can put a bow tie on a pig, but at the end of the day it's still a pig.