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The only reason I would invest in LTC is in a pump and dump scheme.
I think that is the plan for all other currencies as well.
Topic: Litecoin, the Silver to BitCoin Gold? (Read 1606 times)
I think that is the plan for all other currencies as well.
The only reason I would invest in LTC is in a pump and dump scheme. The only reason the price has risen thus far (AFAIK) is the speculation that when LTC hits MTGOX its value will skyrocket similar to the BTC bubble last month. The question arises that a rise in value either requires later investors with their speculation driving the price up or that there is a use for LTC for which BTC cannot accomplish (AFAIK LTC only offers fast transaction confirmation). Without a facilitating something that BTC cannot, i don't think there's anything that ensures the growth of value for LTC, other then greater speculation by later investors.
My 2 Shatoshi's
Shas
My 2 Shatoshi's
Shas
Bitcoin got the headstart.
LTC in my opinion is kind of like the grass roots movement of the crypto currency.
As the ASICs come out and flood the BTC mining scene, the guys with gaming rigs will still have a viable alternative to pay their electricity bill (and secure the network of course
)
I am bullish on LTC, but Im also bullish on Silver....and we all se what that is doing ;sigh;
I am the newest of newbies. this is my first post as I only discovered crypto-currency like two weeks ago. it seems to me that as the ASIC's come out Bitcoins will become easier to mine at least for a short time whilst litecoins will maintain their current difficulty. This could result I the value of litecoins increasing relative to the value of Bitcoins. I am also hoping that I will be able to get a good deal on GPU mining hardware once others upgrade. As the ASICs come out and flood the BTC mining scene, the guys with gaming rigs will still have a viable alternative to pay their electricity bill (and secure the network of course
)I am bullish on LTC, but Im also bullish on Silver....and we all se what that is doing ;sigh;
Because litecoin mainly adopt the feature of bitcoin, there's nothing too revolutionary or innovative. So, the value of litecoin will not be as high or close to bitcoins. People will still use it though.
You do realize that the matter of how revolutionary a currency is doesn't matter. It is how much it is used and how good it preserves its value that counts.
This is true, and perhaps one of the saddest truths. Diamonds are a great example, in reality what are they used for? How many people truly need them? yet the price for them is astronomically high compared to their weight. It's all percieved value. In the end, that is the only way currency will ever work as well, it has to be percieved as being valuable. Thats where BTC and LTC come in, they are being more and more known as being worth something to more and more people. More places are accepting them as currency, and in the end I only see the prices of BOTH going up longterm.
The thing about diamonds though is the "value" and availbility are tightly controlled and the markup is terrific from the mine to the jewlery store. The minimum markup from "Rap" or wholesale is 300%. Diamonds are controlled by one company and one company only, regardless of where they are mined; a mine in Canada being the exception.
Diamonds have no value as currency because as soon as you buy one it is worth much less than you paid for it except in a private sale. DeBeers, the cartel which controls the diamond market only release a small number of the jewelry grade diamonds mined each year and holds the rest in its valut. Even the Russian mines don't mess with DeBeers because Debeers could flood the market thus causing prices to collapse. The Russian mines would go broke, DeBeers would lose nothing and soon things would be back as they were with DeBeers directly controlling the Russian mines.
$.02.
Interesting. I can understand that is why LTC has some actual value (compared to other Crypto-Currencies and hell...it's worth more than the USD currently).
One of the main reasons I support LTC is for the confirmation/transaction time compared to BTC.
The basic premise behind LTC was quicker confirms for faster transactions and being somewhat ASIC resistant. Unfortunately though there's not many you can actually do with your litecoins yet.
I'd still say they're second (by a fair distance) to bitcoin with a whole bunch of even less mature coins being mined by those looking for a quick buck (aren't we all).
I'd still say they're second (by a fair distance) to bitcoin with a whole bunch of even less mature coins being mined by those looking for a quick buck (aren't we all).
I agree in saying that the market will have the final say so, but....LTC just seems to be lacking. BTC not only has the community, language, double-spend protection that has been created over a few years. LTC has not had any real updates that I am aware of?
On the other hand, could LTC transfers become quicker so that you could use them for smaller transactions? I've heard of this, but have not really seen what can back this up....
But of course you can make some good gains playing it as anything else.
On the other hand, could LTC transfers become quicker so that you could use them for smaller transactions? I've heard of this, but have not really seen what can back this up....
But of course you can make some good gains playing it as anything else.
It might turn out that way.
Seems like a lot of people on this forums are concerned about the limited availability of BitCoins in the future. If the difficulty goes up like some people think, Bitcoins might be a lot harder to come by. So, it may be like gold, of which there is only a limited amount that can be mined PROFITABLY in the world....
Not sure about the Litecoin though. I have to do more research....
Very interesting stuff though.
Or, it could be that BitCoins might turn out like dollars, and the LTC's might be like the dimes and nickels. Useful for smaller purchases??
I'm still just learning about all this.
Seems like a lot of people on this forums are concerned about the limited availability of BitCoins in the future. If the difficulty goes up like some people think, Bitcoins might be a lot harder to come by. So, it may be like gold, of which there is only a limited amount that can be mined PROFITABLY in the world....
Not sure about the Litecoin though. I have to do more research....
Very interesting stuff though.
Or, it could be that BitCoins might turn out like dollars, and the LTC's might be like the dimes and nickels. Useful for smaller purchases??
I'm still just learning about all this.
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I think it's just a matter of time and letting the market decide which cryptos will be will be the most valuable. Could be Litecoin, could be Feathercoin, could be something else entirely. Time will tell.
I agree, the ones that will be most valuable are the ones the major exchanges pick up, and merchants use. I strongly believe it will be LiteCoin over Feathercoin though.
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litecoin , just best crypto money ( gpu miner )
Those who have missed out on the BitCoin rise can probably benefit on a smaller scale the LiteCoin rise. I believe all other cryptocurrency will always remain small (like bronze, copper, tin, zinc, etc)
I think it's just a matter of time and letting the market decide which cryptos will be will be the most valuable. Could be Litecoin, could be Feathercoin, could be something else entirely. Time will tell.
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litecoin , just best crypto money ( gpu miner )
Those who have missed out on the BitCoin rise can probably benefit on a smaller scale the LiteCoin rise. I believe all other cryptocurrency will always remain small (like bronze, copper, tin, zinc, etc)
I an just saying --> Feathercoin.
Looking at miningpool.nl to mine some LTC :-)
It's coming to mtgox soon. That will cause a nice price rise.
litecoin , just best crypto money ( gpu miner )
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Not Silver to Gold : https://en.bitcoin.it/wiki/Litecoin
Some argue that Litecoin cannot make sense as "silver to bitcoin's gold", because Bitcoin itself is both gold and silver: While in the long-run, the BTC unit may be too valuable for everyday trade ("gold"), there are other, much smaller units that can just as well serve the purpose of "silver" while being naturally/automatically "converted" to/from BTC.
Some argue that Litecoin cannot make sense as "silver to bitcoin's gold", because Bitcoin itself is both gold and silver: While in the long-run, the BTC unit may be too valuable for everyday trade ("gold"), there are other, much smaller units that can just as well serve the purpose of "silver" while being naturally/automatically "converted" to/from BTC.
As there is a much larger abundance of silver than gold in the earth to be mined, the same correlation can be applied to these two crypto-currencies. There being more LiteCoin compared to BitCoin to be mined is the same. This result is that LiteCoin will always have a lower value compared to BitCoin, just like silver has a lower value to gold. Therefore, LiteCoin is the silver to BitCoin's gold.
LTC in my opinion is kind of like the grass roots movement of the crypto currency.
As the ASICs come out and flood the BTC mining scene, the guys with gaming rigs will still have a viable alternative to pay their electricity bill (and secure the network of course )
I am bullish on LTC, but Im also bullish on Silver....and we all se what that is doing ;sigh;
As the ASICs come out and flood the BTC mining scene, the guys with gaming rigs will still have a viable alternative to pay their electricity bill (and secure the network of course
)I am bullish on LTC, but Im also bullish on Silver....and we all se what that is doing ;sigh;
Sigh,
There is a difference between the usability of silver and gold.
There is no significant difference between the usability of LTC and BTC.
There is a difference between the usability of silver and gold.
There is no significant difference between the usability of LTC and BTC.
Yes there is. Confirmations are much faster on LTC and more suitable to low value purchases than bitcoins that can take ages to confirm for low values.
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