Topic: Little bit of info regaurding ltc (Read 459 times)

That is true, but it is the long term investors that will profit the most from it. Also, I wouldn't believe too much on reddit. Too many kids on there that like to down vote everything and troll around.

Mtgox, said they were looking into it, but because of all the attacks on it, i don't think it is coming anytime soon.
However, more exchanges are starting to accept LTC.
One new one that caught my attention in r/litecoin was kraken.com. I'm really looking forward for this one.
But overall i agree with you. I believe LTC's price will go up, but i don't believe that it will stay up for long, because as you said most people that trade it just want to cash out. They are mostly the people that lost the bitcoin train.

Hello everyone. I have been keeping up with the value of LTC on BTC-E, as well as looking into LTC going onto MtGOX. Here is a bit of info that I have learned.

1: The price of LTC is slowly crashing. Why? Because people are buying low, and selling high before LTC can even take off. Now the question is, how can we prevent this? The answer is simple. Stop cashing in litecoins, and start buying. Everyone knows that LTC will skyrocket soon.

2: LTC is expected to skyrocket in price after 3 different occasions.
2A: The first increase will be caused by the recent bitcoin rush. Because of everyone trying to run to start mining BTC, and with the current difficulty with bitcoin now, they will start looking for alternatives. Just like everyone currently here now, they will find this place, or even BTC-E by looking for alternate crypto currencies or by word of mouth. Once they see all the different types of cryptocoins available, they will start trying them. So how can we be sure this will cause LTC to raise in price? The fact is, LTC is currently the #2 crypto currency. Because it's so easy to mine and because of it's current value, it's obvious that about 60% or more will start going for LTC.

2B: The second increase will be caused by the bitcoin ASIC rush. With all the updates and orders on asics, we already know all the GPU miners will start coming to LTC, again because of it's value and because of its current status. This will cause a difficulty increase. But wait, a difficulty increase doesn't necessarily mean that it will increase in price does it? Wrong. Like bitcoin, the more the difficulty increases, the more people will pay to get their hands on that coin. Now, as we all know, there will be more litecoins than bitcoins. While this term seems inaccurate or made up, litecoin IS silver, while bitcoin IS gold. This phrase is more accurate than you can imagine.

2C: The last increase will be when MtGOX allows the tradeoff of LTC to USD or other currencies. Most people believe this to be a rumor, others believe it to be true. I cannot currently say I believe either at the moment, but let's just say it does happen. If MtGOX does in fact start allowing the currency conversion of LTC we will more than likely see a $20 or more increase on LTC. Combine this with the increases stated above in 2A and 2B, we are talking about roughly $60 or more per litecoin.

The question most people are probably asking is how can this logic be trusted? The real question is, how can something that doesn't truely exist, or something that doesn't have a material form, currently be worth money now? A single bitcoin is worth over $100, and last month it was worth about $249. Bitcoin isn't something you can hold, nor does it truely exist. It is digital, a simple program consisting of 1's and 0's in a 256 bit algorithm known as a hash. Can we honestly say the same does not apply to litecoins? Can you deny their future? Back when bitcoins were 20 cents a peice, no one ever thought that they would be worth what they are today, and the ones who had faith are the ones who are rich from it. I am not sure about you guys, but I don't plan to make the same mistake twice. My bet is that LTC will reach roughly $20 per coin or more by the end of the year, but that's only if people listen to and believe what I posted here.

Now, I may be wrong about this, but I may not be wrong either. Only time will tell, and only you will decide. Happy mining.