if this is so, someone explain to me step-wise and drastic increase in litecoin difficulty level despite "obsolete" scrypt
http://www.coinwarz.com/difficulty-charts/litecoin-difficulty-chart
http://www.coinwarz.com/difficulty-charts/litecoin-difficulty-chart
Hashrate/difficulty doesn't necessarily mean the coin is useful, ASICs got added to the network recently, miners hoping to get a ROI. Not useful = dead. It paused falling for now, nothing falls in a straight line, but it'll resume its fall soon. Miners hoping to get a ROI doesn't necessarily mean they will get it.
I agree, those ASIC miners will simply dump all their litecoins(as weve been seeing) to gain profit/break even, thus reducing the price. Litecoin will fall into oblivion.
Further, as the price of LTC stagnates and more and more of these ASIC rigs come out, who is going to be buying them? How many of the "farms" will be by the actual producers?
I say fewer individuals will be buying them and more producers will be putting them to use. How deep are their pockets? (Meaning can they sit on them hoping for a higher price? I don't think so.)
Now, when they try to sell them, is the demand there? Lots of LTC are mined every day and with a falling price, volume and interest - this could get interesting, ugly or who knows what.
LTC has huge lack of buyers/demand, shown by the falling prices.
