Topic: LTC Crashing - How low will it go? (Read 3287 times)
Just commenting to say we very glad to see litecoin holding its price around 50c
Litecoin isn't crashing. It's still too closely related to Bitcoin's value. It isn't "strong" enough to be able to fluctuate its value on its own. As Bitcoin's value increases, Litecoin's BTC/LTC value decreases. Since Bitcoin has seen a recent large increase in value, that BTC/LTC value has decreased proportionally. Since the drop of that exchange value has been so large, low experience traders with low or no economic background see this as Litecoin losing value, without regarding the fact that Litecoin continues to follow Bitcoin. Because of this large fall, the LTC/USD rate fell as well. The LTC/USD rate is reflexive with people's faith in Litecoin. Once Litecoin becomes its own currency, my points here become invalid. But for as of now, these points stay intact.
LiteCoin will come back, bigger.
ASIC's will push GPU miners to LTC.
So price will go up in 5-6 months and I keep hoarding them.
Try to buy 1 to 2k LTC every month, until ASIC's are big.
ASIC's will push GPU miners to LTC.
So price will go up in 5-6 months and I keep hoarding them.
Try to buy 1 to 2k LTC every month, until ASIC's are big.
i think you're headed to the right direction... wish i had more money to buy more..
LiteCoin will come back, bigger.
ASIC's will push GPU miners to LTC.
So price will go up in 5-6 months and I keep hoarding them.
Try to buy 1 to 2k LTC every month, until ASIC's are big.
ASIC's will push GPU miners to LTC.
So price will go up in 5-6 months and I keep hoarding them.
Try to buy 1 to 2k LTC every month, until ASIC's are big.
unfortunately many new LTC users took the bait and bought heavily at 70c due to being assured that they would see $1 next week.
This simply isn't true. It wasn't even at 0.7 for that long.
It is factually true, perhaps your experience is different but unfortunately many newcomers to LTC were taken for a good ride at their expense.
Geedy newcomers complain because they watched LTC go from $0.05 to $0.70, they jumped in late, and it dropped back some to $0.50. Now they won't shut up about it... They are the ones making the market go berserk!
Ppl need to understand that it's the market that decides what a litecoin is worth, not the miners, not some guru, just the market... could be $0.50 in a week, could be $2, could be ZERO.
*disclaimer, I do think some of the early adopters and bigtime miners dumped a ton of LTC when the price high, causing it to plummet, but I think that phenomenon has waned, and I don't think it was intentional market manipulation, it's just people over-invested in LTC, or they needed fiat.
but unfortunately many newcomers to LTC were taken for a good ride at their expense.
Wasn't it the same experience two years ago, for then BTC newcomers when it spiked to $35?
unfortunately many new LTC users took the bait and bought heavily at 70c due to being assured that they would see $1 next week.
This simply isn't true. It wasn't even at 0.7 for that long.
It is factually true, perhaps your experience is different but unfortunately many newcomers to LTC were taken for a good ride at their expense.
The age old arguments of 'it's a purely speculative investment you can't buy or do anything with litecoins' isn't even true anymore. Litecoin isn't that different now from bitcoin when it was 40 cents.
The first time bitcoin hit 40 cents Satoshi was still around and Wikileaks had just started accepting bitcoin donations.
What kind of inspirational visionaries does the Litecoin community possess at the moment and I have I missed the announcement about a well know international subversive group accepting donations via Litecoin?
I hear you. But we've got to keep the context clear here. A lot of people compare Litecoin to Bitcoin and point out how much more established and awesome Bitcoin is. But the truth is that Litecoin isn't trying to be Bitcoin, Litecoin exists to be a second coin for whatever a second coin may be useful for. It doesn't have to measure up to Bitcoin to be of value.
The age old arguments of 'it's a purely speculative investment you can't buy or do anything with litecoins' isn't even true anymore. Litecoin isn't that different now from bitcoin when it was 40 cents.
The first time bitcoin hit 40 cents Satoshi was still around and Wikileaks had just started accepting bitcoin donations.
What kind of inspirational visionaries does the Litecoin community possess at the moment and I have I missed the announcement about a well know international subversive group accepting donations via Litecoin?
after the fork the 3 major alts kind of just went nutty. They are now slowly coming back down to there they should be.
Litecoin was around 0.5 before the hard fork.
While bitcoin is at least getting more popular and more useful in the world, the alts have mostly remained the same speculative coins that they always have been.
You can buy plenty of goods and services with Litecoins now. There's even a Litecoin version of Silkroad called Atlantis. Litecoin is no more 'speculative' now than Bitcoin was when it was the 50 cents.
you certainly wouldnt want to use this atlantis service with out a mixer, so does this mean there is a litecoin mixing service also?
I meant in terms of the price graphs and it's volatile behaviour.
Ah Ok 
Litecoin isn't that different now from bitcoin when it was 40 cents.
I call b.s. on that. Litecoin is a bitcoin clone. It's a back up coin. I bet even litecoin dev traded in their LTC for BTC amidst the $0.70 stupidness. Mining profitability was too high with LTC over $0.50, I bet miners were trading right away for bitcoin and fiat.
You misunderstand, I meant in terms of the price graphs and it's volatile behaviour.
My guess is price will stabilize at ~$0.35, and I believe litecoin will continue to be worth in between 100:1 and 200:1 the price of BTC long term, so $0.35 - $0.70 currently. Litecoin has the same potential as bitcoin, but with more volatility (re: relationship is a bit like silver and gold).
Just trying to understand: the numbers in your "guess" were based on mining profitability? why 100~200, not 200~500, or 10~50? I'm thinking about the USD/BTC/LTC relationship and the mood of the investors and traders.
If something goes out of whack in the price (like the recent explosion of LTC price) then the mining profitability goes crazy too and may adversely impact the price, but over time as the network grows I doubt this will be as big an issue. Anyways, I don't know much about mining.
My guess is price will stabilize at ~$0.35, and I believe litecoin will continue to be worth in between 100:1 and 200:1 the price of BTC long term, so $0.35 - $0.70 currently. Litecoin has the same potential as bitcoin, but with more volatility (re: relationship is a bit like silver and gold).
Just trying to understand: the numbers in your "guess" were based on mining profitability? why 100~200, not 200~500, or 10~50? Litecoin isn't that different now from bitcoin when it was 40 cents.
I call b.s. on that. Litecoin is a bitcoin clone. It's a back up coin. I bet even litecoin dev traded in their LTC for BTC amidst the $0.70 stupidness. Mining profitability was too high with LTC over $0.50, I bet miners were trading right away for bitcoin and fiat.
My guess is price will stabilize at ~$0.35, and I believe litecoin will continue to be worth in between 100:1 and 200:1 the price of BTC long term, so $0.35 - $0.70 currently. Litecoin has the same potential as bitcoin, but with more volatility (re: relationship is a bit like silver and gold).
The eventual presence of newer more useful cryptos could screw with this price balance, but that'll take a long while. Anyways, many good alt cryptos with different properties would only strengthen the eco-system.
I had been selling my merge-mined namecoins for LTC for the past few months. The NMC I had mined would have been worth around 0.5 BTC, but during the LTC rally, I sold the LTC I had accumulated for 3 BTC.
One of the rare times I actually had the timing correct for when to buy and sell.
One of the rare times I actually had the timing correct for when to buy and sell.
The recent price increase meant I could afford to buy a car so I dont really care if it crashes now 
Unfortunately I wasn't in big enough to upgrade my car, but some profit was made anyways. Price fluctuation might get people more interested in LTC than just a steady price would. There is plenty of market for speculations.
I'm seeing this LTC price curve is following BTC, but like a last year situation and with a faster speed of adoption than BTC had. Bigger pricebump than the previous one should be coming soonish (maybe around the time of high ASIC adoption, Avalon batch 3 shipped out or so)
We fully endorse Litecoin. I find it funny when I hear people say you can't buy anything with Litecoin. More and more merchants everyday are beginning to accept it. We accept it on our website and we have a vast amount of inventory, gold, silver and jewelry.
http://www.allthingsluxury.biz
http://www.allthingsluxury.biz
Some price oscillation is always healthy to keep things exciting (personally even though i am invested into it, i wouldnt mind seeing ltc crash again back to the 0.002 nearabouts to catch all the panic sellers again....)
and no, the ~.75usd peak was not completely artificial (as far as artificiliality can even be defined/gauged in the cryptocurrency world, anyway) or the result of manipulators.
As long as there is a healthy volume of transactions ongoing, everything is well.
and no, the ~.75usd peak was not completely artificial (as far as artificiliality can even be defined/gauged in the cryptocurrency world, anyway) or the result of manipulators.
As long as there is a healthy volume of transactions ongoing, everything is well.
after the fork the 3 major alts kind of just went nutty. They are now slowly coming back down to there they should be.
While bitcoin is at least getting more popular and more useful in the world, the alts have mostly remained the same speculative coins that they always have been.
you should seriously consider checking your facts in the future to avoid making a fool of yourself.While bitcoin is at least getting more popular and more useful in the world, the alts have mostly remained the same speculative coins that they always have been.
I doubt this will last much longer than a week from now. Yesterdays selloff was vicious there will be further profit taking because of it but in order for it to really crash something bad must happen to Atlantis.
The time where DDOSing pools could keep it down is over.
http://www.ltc-charts.com/
http://www.cryptocoincharts.info/
http://www.litecoinpool.org/charts
Sadly not as sophisticated as their BTC counterparts but well enough for most people.
The time where DDOSing pools could keep it down is over.
Where can I look at good litecoin charts?
http://www.ltc-charts.com/
http://www.cryptocoincharts.info/
http://www.litecoinpool.org/charts
Sadly not as sophisticated as their BTC counterparts but well enough for most people.
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