Topic: LTC good investment? (Read 3662 times)

I wanted to make a comment specifically on everyone quoting Charles in this thread.

What Charles meant under "no development" is simple.  We are not adding any "gimmick" features to Litecoin protocol. We are making sure that Litecoin remains a stable and reliable network compatible with Bitcoin API.

What we are currently doing is focusing on integration and adoption. 

We have recently created https://litecoin.com and are currently focusing on merchant adoption as well as strategical integration with different service providers.  These things take time and we are not in a rush. We are doing this properly and one step at a time.

The ecosystem has drastically changed over the last few years.  51% attacks used to destroy projects.  Now, they are just dismissed as a natural phenomena.  Pre-mines used to be considered as scams, now they are simply called ICOs.  Super fast coins have been released by people who do not understand things like block propagation time and forums are flooded by people who post on topics they do not even understand.

At the same time, a number of really amazing projects have been created and I truly wish they succeed in their decentralization efforts.

Litecoin has a strong following of people who continue supporting the ecosystem.  The network did not get where it is today by an accident.  IMO the fact that some people have lost interest due to price decline is irrelevant.  I see people get paid for their services and sell products for Litecoin every day.

As Andreas Antonopoulous frequently says "Bitcion is a dumb network" ...and so is Litecion.  That is the beauty of it. The main purpose of Litecion is to provide a reliable transfer of value. Everything else is secondary.

yes litecoin is a very good risk/reward price right now, probably a better buy then bitcoin.

my valid argument is you are just picking and choosing odds and ends to other statements to use out of context and spread FUD about litecoin.

yes we know you don't care about goldcoin, goldcoin's just a pump n dump for you.

so what FUD am I saying?

I already said it, will repeat it again. Charlie Lee is absolutely right about the adoption. Same goes for Bitcoin in that matter. Armstrong's opinion about sidechains was questioned number of times by one of the best developers in altcoin world. Thing is that cryptocurrencies biggest problem at the moment is adoption. That is probably why tech guys try to make something new, which in some cases is not relevant. If you want you can take 1 million coders to work on Bitcoin, make it something HUGE from the tech side.. I'd prefer to hear Bill Gates saying: "I'll invest 10% of my fortune in Bitcoin". Think which will affect the market more.

You just keep saying FUD over and over again without making any valid arguments. Are you in the tenth grade? And I couldn't care less who dumps what.

think you'll find themage discuss that he the links he posted you, you probably even pinpointed that out of the discussion in an attempt to attack litecoin even more.

dude stick to your own coin instead of spreading FUD about others, I mean you have alot to do to prevent the big bagholder with all the premine from dumping all the goldcoin at any time your coin spikes in price.

Well, There is this and the leader (TheMage) who supports the LTCGear ponzi.

Here's a little insight into what's going on @ Coinbase: https://twitter.com/brian_armstrong/status/569914763263606785

I assume he's also talking about Litecoin (LTC).  

When someone says something like that, it's open to interpretation. We simply disagree on the interpretation.

He also goes on later in that exchange and basically says, "it's not up to me, you guys deal with it."

Microguy all you're comments show that you either don't understand the context of what Coblee was saying or you're just pretending to be ignorant to continue to spread you're FUD 

Cryptocurrencies are like operating systems and require, at minimum - updates, patches, and maintenance. These are all forms of development. Development also goes beyond code and applies to things like public relations, community growth, and network health.

Imagine if Gavin came out and said Bitcoin no longer needs development, or if Microsoft quit updating its software. We're in the infancy of digital currencies ... and coins that stop development are destined to remain in the infantile stage.

This is also a competition and there are many competitors just loving this new "no need development" attitude.

Here's my take, FWIW. Bitcoin was modeled to be a digital equivalent of gold. You mine it, it's very limited in supply, it can't be printed or controlled by a central authority. Litecoin was intended to be the silver standard to the bitcoin/gold standard.  What are gold's gimmicks and novelties? What are the differences between silver and gold? How has physical silver remained a viable alternative to physical gold without special gimmicks or novelty that gold doesn't have?  Gold and silver are pretty much the same, and what does one offer that the other doesn't?  Yet people invest in silver just as eagerly as they do gold.  I think many of you forget the basic fundamentals of crypto currencies. They are supposed to be self sustaining and independent of centralized support/control. When Coblee said that LTC doesn't need development right now, he meant it in the way as physical silver does not need a development team behind it to make it succeed. It will succeed by itself, precisely due to the fact that it doesn't need a team of people to make it succeed. Any coin relying on a dev team to keep it alive will fail sooner or later. The coins that will be here decades from now are the ones that don't need a team of people to convince the public they are valuable; the coin does that on its own.

i guessin you're qualified to give investment advice 

do not invest in LTC, LTC prices further down. Invest in Bitcoin while it's cheap!

   If you do not have anything clever to say, you better keep your mouth shut.

first valid point you've made all thread.

and to goldcoin client you should add "for entertainment purpose only"

Hmmmmm ... Maybe this line can be removed now.  

From an economics standpoint one should not (outside of simply maintaining a stable client/blockchain or enhancing usefulness with 3rd part addons) be developing any live cryptocurrency, especially anything that involves changing core parameters.

This undermines the whole trustless system paramount to cryptos maintaining any value whatsoever.

Only do any such developments prior to going live.

but this is lost on the whole change to stay noticed and 'innovative' crypto crowd.

How did I make it seem? I was stating that my overall philosophy is that a coin needs constant development in addition to the other attributes mentioned in this thread. I don't see any point in abandoning any single aspect of a currency's evolvement.

I'm not sure what we disagree about. I was simply posting a tweet.