Litecoin is officially dead - page 144.

cinder

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Activity: 153

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Quote from: lynn_402 on August 15, 2014, 07:09:09 AM

Quote from: kelsey on August 15, 2014, 02:41:08 AM

Quote from: Tomatocage on August 15, 2014, 02:38:55 AM

Quote from: Justine on August 13, 2014, 09:18:05 PM

Problem is there are a lot of miners have pre-order ASIC miner that deliver a few months down the road.

They will need to sell at whatever price to recoup part of their investment.

That's a common fallacy that people bought into 3-4 years ago with Bitcoin. People don't mine for the price today. They mine for the price 5 years from now.

Then wouldn't they be best just buying the coinage rather then the equipment Grin

If they buy their equipment now and there is a bubble a few months from now, that equipment might be wildly profitable and in demand.

I think that's what miners are hoping for.

Wouldn't it be easier to use the same money to buy coin directly if they are expecting a bubble?

lynn_402

sr. member

Activity: 462

Merit: 253

Quote from: kelsey on August 15, 2014, 02:41:08 AM

Quote from: Tomatocage on August 15, 2014, 02:38:55 AM

Quote from: Justine on August 13, 2014, 09:18:05 PM

Problem is there are a lot of miners have pre-order ASIC miner that deliver a few months down the road.

They will need to sell at whatever price to recoup part of their investment.

That's a common fallacy that people bought into 3-4 years ago with Bitcoin. People don't mine for the price today. They mine for the price 5 years from now.

Then wouldn't they be best just buying the coinage rather then the equipment Grin

If they buy their equipment now and there is a bubble a few months from now, that equipment might be wildly profitable and in demand.

I think that's what miners are hoping for.

kelsey

legendary

Activity: 1876

Merit: 1000

Quote from: Tomatocage on August 15, 2014, 02:38:55 AM

Quote from: Justine on August 13, 2014, 09:18:05 PM

Problem is there are a lot of miners have pre-order ASIC miner that deliver a few months down the road.

They will need to sell at whatever price to recoup part of their investment.

That's a common fallacy that people bought into 3-4 years ago with Bitcoin. People don't mine for the price today. They mine for the price 5 years from now.

Then wouldn't they be best just buying the coinage rather then the equipment Grin

Tomatocage

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Activity: 1554

Merit: 1222

brb keeping up with the Kardashians

Quote from: Justine on August 13, 2014, 09:18:05 PM

Problem is there are a lot of miners have pre-order ASIC miner that deliver a few months down the road.

They will need to sell at whatever price to recoup part of their investment.

That's a common fallacy that people bought into 3-4 years ago with Bitcoin. People don't mine for the price today. They mine for the price 5 years from now.

cinder

full member

Activity: 153

Merit: 100

Quote from: darkota on August 14, 2014, 12:29:30 PM

Another 20% drop in price for Litecoin.

If it happen, even the most hardcore supporter will bail.

Nakashima

newbie

Activity: 15

Merit: 0

It’s been a while since the dropping, people were talking in this forum ,about the price, the asic and the future. I am a regular miner who have faith in crypto but can’t afford to lose everything I got just by my faith. There are so many topics about litecoin is dead or it’s not. What I really want to know are :
Litecoin is Now Below 5 USD ,what should I do?I got coins,not only LTC,Doge,even a small amount of Mona, should I sell them all or should I get more?
Asic factories are selling asic machines at a very low price now,is this a good opportunity to get some asics?

Please try not to spread FUD or giving hope for no reason.Thx.

darkota

hero member

Activity: 770

Merit: 500

Another 20% drop in price for Litecoin.

MaxDZ8

hero member

Activity: 672

Merit: 500

I don't care. I haven't even bothered cashing out from the pool. That says all.

I was thinking about selling them for VTC however, or perhaps some XMR. Beware it's an epic sell of over half a LTC LOL

slapper

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Leading Crypto Sports Betting & Casino Platform

Quote from: TheMage on August 13, 2014, 09:39:49 PM

Quote from: slapper on August 13, 2014, 09:24:55 PM

Litecoin shill central has been saying buy buy forever. Wall Street, Coinbase, won't get any lower than this, silver to gold, younger brother, using "bitcoin and litecoin" into sentences trying to pose a connection between them and all kinds of shillery to rake in noobs.

On top of that, the audacity to push centralization of mining via ASICs as a necessary component of security, when the coin's birth claim and success was all tied to how accessible and consumer friendly hardware mining was, is what is getting reflected in the market.

That kind of shilling is unhealthy. Sure it could go up in the future, but shills should put disclaimers while they are shilling that they are not financial advisor and their shilling should be taken as such.

You missed a few opportunities to add some more "shills" in there. I'm pretty disappointed to be honest.

Back in my day, trolls were good at trolling.

Wait what? I am a troll? Tell you what. I'd rather troll this way than shill for Litecoin. See one more opportunity to add shill in a post. Now shill away. The unicorn Wall Street guy is coming to bail out Litecoin.

Litecoin was my first altcoin. Dumped it when ASICs were announced and laughed every time shills posted to buy buy buy and shill about "gold silver ratio".

Time's up.

FandangledGizmo

legendary

Activity: 1138

Merit: 1001

Quote from: uvt9 on August 13, 2014, 03:53:07 AM

Quote from: micky123 on August 13, 2014, 12:16:17 AM

IMHO Litecoin has a huge fan base in the most populous country - China.

Agreed, but remember that crypto market in China is dying slowly. The central bank try to kill every possible way to exchange Yuan to Bitcoin and other VCs. That's the reason i think LTC can't have a bright future.

China is switching to BTSX (no. 6 on CMC) Look at volumes everyday on CMC only BTSX has BTSX/CNY volume higher than BTSX/BTC traded volume.

cinder

full member

Activity: 153

Merit: 100

Quote from: NWO on August 13, 2014, 09:52:28 PM

Litecoin isn't doing anything innovative. It has just been carried on Bitcoin's back through psychological engrained bullshit that it is the silver to Bitcoin's gold. What rubbish.

I don't think Litecoin will be top 10 within the next year. Too many more promising crypto's vying for the position.

Hard to say.

Even after dropping so much, the market cap gap between 2nd and 3rd spot is still very large.

NWO

sr. member

Activity: 392

Merit: 250

Litecoin isn't doing anything innovative. It has just been carried on Bitcoin's back through psychological engrained bullshit that it is the silver to Bitcoin's gold. What rubbish.

I don't think Litecoin will be top 10 within the next year. Too many more promising crypto's vying for the position.

TheMage

hero member

Activity: 812

Merit: 1000

Litecoin Association Director

Quote from: slapper on August 13, 2014, 09:24:55 PM

Litecoin shill central has been saying buy buy forever. Wall Street, Coinbase, won't get any lower than this, silver to gold, younger brother, using "bitcoin and litecoin" into sentences trying to pose a connection between them and all kinds of shillery to rake in noobs.

On top of that, the audacity to push centralization of mining via ASICs as a necessary component of security, when the coin's birth claim and success was all tied to how accessible and consumer friendly hardware mining was, is what is getting reflected in the market.

That kind of shilling is unhealthy. Sure it could go up in the future, but shills should put disclaimers while they are shilling that they are not financial advisor and their shilling should be taken as such.

You missed a few opportunities to add some more "shills" in there. I'm pretty disappointed to be honest.

Back in my day, trolls were good at trolling.

slapper

legendary

Activity: 1946

Merit: 1100

Leading Crypto Sports Betting & Casino Platform

Litecoin shill central has been saying buy buy forever. Wall Street, Coinbase, won't get any lower than this, silver to gold, younger brother, using "bitcoin and litecoin" into sentences trying to pose a connection between them and all kinds of shillery to rake in noobs.

On top of that, the audacity to push centralization of mining via ASICs as a necessary component of security, when the coin's birth claim and success was all tied to how accessible and consumer friendly hardware mining was, is what is getting reflected in the market.

That kind of shilling is unhealthy. Sure it could go up in the future, but shills should put disclaimers while they are shilling that they are not financial advisor and their shilling should be taken as such.

Justine

full member

Activity: 169

Merit: 100

Quote from: Cluster2k on August 13, 2014, 08:41:34 PM

If I held LTC I would avoid selling now. The worst of the crash is probably over as LTC is now almost 90% off its peak. The chances of it doubling in value from here are, I feel, much greater than the chance of it crashing lower to $2.40.

Problem is there are a lot of miners have pre-order ASIC miner that deliver a few months down the road.

They will need to sell at whatever price to recoup part of their investment.

Robin37s

member

Activity: 124

Merit: 10

Quote from: darkota on June 19, 2014, 05:24:13 PM

I think it can be "officially" said, since it's value has only gotten Much lower, worse than Dogecoin's dropping value.

that maybe comes true.....

Cluster2k

legendary

Activity: 1692

Merit: 1018

If I held LTC I would avoid selling now. The worst of the crash is probably over as LTC is now almost 90% off its peak. The chances of it doubling in value from here are, I feel, much greater than the chance of it crashing lower to $2.40.

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: lynn_402 on August 13, 2014, 04:52:55 PM

Quote from: tooil on August 13, 2014, 03:50:31 AM

Buy when there is blood on the street.

There is plenty of people giving up litecoin, so if the coin is to survive long term, this may be the time to buy at rock bottom price.

Imho, it seems silly to say that this is rock bottom prices, when a Litecoin was worth only a few cents less than a year ago.

This looks like a correction following this winter's pump.

Oh really? Proof or you don't know what you are talking about.

Obviously it wasn't and you dont have any proof because it wasn't cents LESS THAN A YEAR AGO ....buddy. Grin

lynn_402

sr. member

Activity: 462

Merit: 253

Quote from: tooil on August 13, 2014, 03:50:31 AM

Buy when there is blood on the street.

There is plenty of people giving up litecoin, so if the coin is to survive long term, this may be the time to buy at rock bottom price.

Imho, it seems silly to say that this is rock bottom prices, when a Litecoin was worth only a few cents less than a year ago.

This looks like a correction following this winter's pump.

micky123

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Merit: 1005

Quote from: uvt9 on August 13, 2014, 03:53:07 AM

Quote from: micky123 on August 13, 2014, 12:16:17 AM

IMHO Litecoin has a huge fan base in the most populous country - China.

Agreed, but remember that crypto market in China is dying slowly. The central bank try to kill every possible way to exchange Yuan to Bitcoin and other VCs. That's the reason i think LTC can't have a bright future.

To be honest, i have always doubted that China would clamp down on crypto for the simple fact that selling mining machines / chips is a very lucrative business opportunity. Clamping down on crypto would mean that they are sawing off the same branch that they are sitting on!

I believe they spread FUD in the hope that people panic sell and they can pickup as much BTC they can lay their hands on. This amount would be re-invested back into the economy. Really, if China had to clamp down on crypto, they would have banned them by now!

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