Litecoin just hit $2,21 - page 2. | Bitcointalksearch.org

CoinHoarder

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Quote from: hellscabane on July 02, 2014, 09:24:13 AM

Clearly this was an attempt by a certain person to win a "moral" bet with another person that LTC would dip under $2.

Clearly this attempt failed. Well, better luck next time.

Clearly that statement is a guess. Cheesy

hellscabane

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Clearly this was an attempt by a certain person to win a "moral" bet with another person that LTC would dip under $2.

Clearly this attempt failed. Well, better luck next time.

lordoliver

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Quote from: devphp on July 02, 2014, 08:33:10 AM

Lordoliver,

it's a misconception that more ASICs/GPUs/miners/hashrate affect the price to the upside. At most, they are neutral, but all signs are pointing that they are negative for the price.

Here is my explanation on this:
https://bitcointalksearch.org/topic/m.7468164

no, I didn't want to say, that the asic make the price better, but more stable.
It will go up there were it was, thats what I ment. Asic is just running not switch all the time to other coins.

devphp

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Lordoliver,

it's a misconception that more ASICs/GPUs/miners/hashrate affect the price to the upside. At most, they are neutral, but all signs are pointing that they are negative for the price.

Here is my explanation on this:
https://bitcointalksearch.org/topic/m.7468164

lordoliver

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Quote from: thimo on July 02, 2014, 08:22:41 AM

Quote from: lordoliver on July 02, 2014, 08:20:18 AM

Quote from: Bluestreet on July 02, 2014, 08:13:37 AM

ASICS killing the scrypt market off which why a lot of coins switching to diff Algos or going complete POS. ASIC miners trying to frantically dump out as fast as possible to ROI.

guys... are you serious? if you have a hardware only for scrypt-coins, do you think they will throw it all away then, if the price drops a little?
it will probably be used... and thats why the price only can go higher.
As the bitcoin asics came out, litecoin would go up heavily. It didn't.
Litecoin is not existing only because of gpu-mining but as the first alternative to bitcoin.

That is nothing but an entitled childish argument: We were FIRST, so we DESERVE to have a place.

no, its not because of first, but because of the good distribution. there are already a lot of shops out there using it...

AmDD

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Quote from: devphp on July 02, 2014, 08:19:48 AM

Quote from: AmDD on July 02, 2014, 08:18:04 AM

I don't mean to derail the litecoin bashing, but can someone explain the chart in the op? How does the market drop that low and then recover nearly instantly? I've never had a very strong understanding of trading. Thanks

There were few buy orders, and someone sold too many Litecoins within a span of a few minutes. Of course the market recovered but not to the point where it was before the massive dump, it's like a big crack in the shield.

The more i think about it I can see how it works. I was thinking it would have to stay that low and slowly rise back up rather than instantly. Thank you

CoinHoarder

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Quote from: AmDD on July 02, 2014, 08:18:04 AM

I don't mean to derail the litecoin bashing, but can someone explain the chart in the op? How does the market drop that low and then recover nearly instantly? I've never had a very strong understanding of trading. Thanks

Someone saw a buying opportunity and bought it all up.

It was well played IMO- they could slowly sell it off not affecting the market too badly and pretty much have an instant profit. I'm not sure this is their strategy as they could be hodling for a rebound, but someone(s) saw a buying opportunity for one of those two reasons. I think it's anyone's guess as to what the reason was.

Whomever sold off that much at once on one exchange didn't really think it through very well.

lordoliver

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Quote from: thimo on July 02, 2014, 08:19:09 AM

Bagholder alert:

lordoliver

ok, i have exactly 15.11077235 LTC. If you want to call that a bagholder. OK ;-)

I am just refering to that one:
https://bitcointalksearch.org/topic/m.7272992

its behaving like all other ordinary Altcoins. Worldcoin, namecoin, usw...

thimo

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Quote from: lordoliver on July 02, 2014, 08:20:18 AM

Quote from: Bluestreet on July 02, 2014, 08:13:37 AM

ASICS killing the scrypt market off which why a lot of coins switching to diff Algos or going complete POS. ASIC miners trying to frantically dump out as fast as possible to ROI.

guys... are you serious? if you have a hardware only for scrypt-coins, do you think they will throw it all away then, if the price drops a little?
it will probably be used... and thats why the price only can go higher.
As the bitcoin asics came out, litecoin would go up heavily. It didn't.
Litecoin is not existing only because of gpu-mining but as the first alternative to bitcoin.

That is nothing but an entitled childish argument: We were FIRST, so we DESERVE to have a place.

lordoliver

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expect(brain).toHaveBeenUsed()

Quote from: Bluestreet on July 02, 2014, 08:13:37 AM

ASICS killing the scrypt market off which why a lot of coins switching to diff Algos or going complete POS. ASIC miners trying to frantically dump out as fast as possible to ROI.

guys... are you serious? if you have a hardware only for scrypt-coins, do you think they will throw it all away then, if the price drops a little?
it will probably be used... and thats why the price only can go higher.
As the bitcoin asics came out, litecoin would go up heavily. It didn't.
Litecoin is not existing only because of gpu-mining but as the first alternative to bitcoin.

devphp

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Merit: 260

Quote from: AmDD on July 02, 2014, 08:18:04 AM

I don't mean to derail the litecoin bashing, but can someone explain the chart in the op? How does the market drop that low and then recover nearly instantly? I've never had a very strong understanding of trading. Thanks

There were few buy orders, and someone sold too many Litecoins within a span of a few minutes. Of course the market recovered but not to the point where it was before the massive dump, it's like a big crack in the shield.

thimo

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thimo the dev

Bagholder alert:

lordoliver

AmDD

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I don't mean to derail the litecoin bashing, but can someone explain the chart in the op? How does the market drop that low and then recover nearly instantly? I've never had a very strong understanding of trading. Thanks

Bluestreet

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ASICS killing the scrypt market off which why a lot of coins switching to diff Algos or going complete POS. ASIC miners trying to frantically dump out as fast as possible to ROI.

lordoliver

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Quote from: superresistant on July 02, 2014, 08:09:45 AM

Quote from: lordoliver on July 02, 2014, 08:07:51 AM

Quote from: superresistant on July 02, 2014, 08:06:03 AM

Some people still hold Litecoin despite all the warnings over 6 months ?
I guess some people just want to lose money.

if someone holds ltc for 6 months, he should'nt sell it now... he should have done 6 months ago and buy new ones now or better next week

I sold my last Litecoin about 6 months ago like every sane person.

You can still do it now and invest in new innovative cryptocurrencies.

Of course innovatives will probably go higher.
But LTC will come back, you will see ;-)

devphp

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Quote from: superresistant on July 02, 2014, 08:09:45 AM

I sold my last Litecoin about 6 months ago like every sane person.

You did good. I was more stupid and only sold it in March, had a hope it would recover but finally saw the writing on the wall.

superresistant

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Quote from: lordoliver on July 02, 2014, 08:07:51 AM

Quote from: superresistant on July 02, 2014, 08:06:03 AM

Some people still hold Litecoin despite all the warnings over 6 months ?
I guess some people just want to lose money.

if someone holds ltc for 6 months, he should'nt sell it now... he should have done 6 months ago and buy new ones now or better next week

I sold my last Litecoin about 6 months ago like every sane person.

You can still do it now and invest in new innovative cryptocurrencies.

devphp

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In crypto land months are years, and in the past few months development efforts have accelerated, this snowball cannot be stopped, it's not enough already to be just a simple coin. Bitcoin can get away with that for a while, maybe a couple of years, but its end is not far away. Litecoin won't survive one year.

lordoliver

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Quote from: superresistant on July 02, 2014, 08:06:03 AM

Some people still hold Litecoin despite all the warnings over 6 months ?

I guess some people just want to lose money.

if someone holds ltc for 6 months, he should'nt sell it now... he should have done 6 months ago and buy new ones now or better next week

superresistant

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Activity: 2156

Merit: 1131

Some people still hold Litecoin despite all the warnings over 6 months ?

I guess some people just want to lose money.

Topic: Litecoin just hit $2,21 - page 2. (Read 4070 times)