Topic: rpietila Altcoin Observer - page 203. (Read 387493 times)

Yeah, if you can find a good trade like that where you think have a good chance at making profit it could be good. Litecoin seems to be in the process of fully decoupling itself from bitcoin, but when bitcoin gets another bubble going all the alts including ltc will be going up likely. Especially if we get big names attempting to pump it like you said. Now that you mention that I'll definitely be on the lookout for that litecoin pump and dump trade if Max or Karl Grey attempt to do it again. Thanks for the post.

But buying and holding for the long term seems like a bad idea. The future looks bleak for Litecoin.

Your view is very interesting. Thanks for sharing.

I would warn people about investing now though. We don't know what could happen. It's only speculation.

What happened with litecoin is pretty interesting. I was loaded with litecoin before the last bubble, but ended up selling too early to profit immensely.

If you look at the graph, LTC was around 0.007 and the majority opinion at the time was that litecoin was dead. But then Max Keiser came along out of nowhere and announced a target of $50. Immediately afterwards the price spiked. A few days later, Karl Gray announced $50 target on his twitter.



Now who is Karl Gray? It's not just anybody. In fact Karl Gray holds approximately 100 000 BTC. And he wants more, he was one of the sellers during our latest BTC rise to $1k ++ and subsequent drop. He has already bought back at massive profit.

Max Keiser is no minor btc player either, with 5-digit worth of BTC in his holdings. It seems pretty likely that Max and Karl accumulated litecoin near the bottom only to hype and pump it up massively to sell out for 3-5x return on their investment. All the sheeps bought and are now holding the bag.

Why litecoin? Liquidity. These guys own 5 and 6 digits amount of BTC. They need massive liquidity to increase their holdings by any significant degree. And as such litecoin has been a blessing. Will history repeat itself? That's the question. It honestly would not surprise me at all. Due to this I will be looking at LTC again sub 0.01. I don't believe in LTC, but I'd certainly ride along for such a massive pump if I can. There is ofc the risk that I'll be going down with a sinking ship, so I have no hurry and will only consider prices below 0.01, anything else is too much atm.

It's important to buy when there is blood in the street. The current decline is painful but we need a lot more despair and people to lose faith before it's a good buying opportunity.

Whales who got them for a few cents or mined them in the early days could still be holding them, simply because they have too many of them and can't sell all at once because the market is too thin, so they are selling them off gradually. Now, who is buying - that's the question.

Yeah. Personally I wouldn't buy DRK. But if anyone one has any arguments for buying DRK I'd be interested in hearing them.

To make things even worse, I have a feeling that many of LTC holders  are using DRK as a life vest, buying it at unreasonable peak. They will end up with another heavy bag.

I haven't seen any reasonable argument for holding litecoin in a very long time. I think anyone who is still holding LTC is insane at this point. There's probably 5 or more alts that have at least a chance at gaining a chunk of the market. Those LTC could be sold and put in to pretty much any promising coin and have a vastly better chance at actually making money.

What could possibly be the rationale for holding litecoin in the year 2014?

We all waiting that day. Litecoin is falling, so this could be the chance for Monero to be #2 crypto-currency.

Monero will skyrocket eventually. Just lol at not being a pioneer in the first stablished 100% anonymous coin that actually works. This is the ultimate dream, worldwide instant cash, just as Satoshi intended it. None of this goverment regulations crap.

This is the precedent from bitcoin.  Whether Monero's leadership is sufficiently established for the precedent to hold is open to question, but its ability to supercede bytecoin is a favorable indicator.  So far the primary function of the CN repo is to receive and record the abstract forms of Monero bugfixes.

I agree. Among the many shitcoins that will arise from this, there might also be a few good ideas, some of which might even be integrated
into Monero. And then, if the same feature becomes available in an established coin like Monero, many will prefer that over the new coin (hopefully).

why? - they are offering a toolkit for creating new cryptonotes, why should that be a threat? I think even mid and longterm this is good for monero.

Is this a potential threat to moneros technological advantage:

https://bitcointalksearch.org/topic/cryptonote-a-complete-forking-guide-to-create-your-own-cryptonote-currency-673203

If you want to play it safe you can exit in waves, but be careful of a tsunami! 

We are all just giving opinions here, but there are usually emotions involved.
So, use your best judgement and take the responsibility for your trades. (I mean
That in a non accusatory way.)

Without revealing the amount or at least share of investment in each currency.... You could have 40% loss on $100,000 and 300% gain on $1000, not sure if this would make you happy

I have held a few past the point of cant let go   

Yeah, if Bitcoin keeps doing what it has been doing lately, that is, fluctuating in the $550-$650 range, a lot more people will get bored and start looking for gains in the alts.

Nice to see an observer thread for Altcoins. I sense interest in Altcoins is picking up lately, if even because of LTC's fall in price   Altcoins bring a lot of experimenting into the game from which we can all learn over time.

A fascinating environment.

One of the worst mistakes I have seen is holders not cutting their losses. I unfortunately waited a bit too long with Quark but still cut my losses at 40% or so!
It is hard to detach from our holdings at times. But when something better comes along, tides change, etc. move on (just keep an eye on the past investments)...

40% loss in ltc and 300% gain in monero....might happen, do the math