Topic: Why the loss of confidence in litecoin? - page 4. (Read 13827 times)
Sorry, I haven't been keeping up with the Kardashians. What loss in confidence are you referring to?
Cryptocoins have value because people use them for transactions.
Bitcoin has lower transaction cost than Litecoin (no fee transactions seem to take a day)
Litecoin's default transaction fee is 0.1, which feels to me like significantly higher cost than credit cards, checks, cash, bitcoin, or Dwolla. Why the heck would I want to use litecoin to transfer a lot of money around when I can use bitcoin?
Now make it 0.0001 and watch the market cap of litecoin skyrocket. I'm half tempted to start a mining pool and/or fork the code and do that.
Maybe there's an argument here that the high transaction fee is necessary to make it economical to mine based on transaction fees and not the block reward, but I don't see that one being made much.
Bitcoin has lower transaction cost than Litecoin (no fee transactions seem to take a day)
Litecoin's default transaction fee is 0.1, which feels to me like significantly higher cost than credit cards, checks, cash, bitcoin, or Dwolla. Why the heck would I want to use litecoin to transfer a lot of money around when I can use bitcoin?
Now make it 0.0001 and watch the market cap of litecoin skyrocket. I'm half tempted to start a mining pool and/or fork the code and do that.
Maybe there's an argument here that the high transaction fee is necessary to make it economical to mine based on transaction fees and not the block reward, but I don't see that one being made much.
And a marketplace in which to spend them.
that isnt crucial. bitcoin didnt need places of spendature (excluding sr) to rise into triple digits. i personally beleive that we have big chunk of bitcoin users just buying it as a backup to their wealth as well as long term storage. knowing that such market attracts these people means that bitcoin will only rise. the ones who are into bitcoin for speculation purposes only are very fractional group imho. litecoin can be a wealth storage for poorer folks in the future just as working class mostly stack on silver and richer folk stack on gold.
and holding steady at .01 BTC
Well thanks for jinxing it. :p
Mt Gox is definitely hurting all of crypto because people have money tied up on there and cant get it out.
Gox wont update to Midas until they have their banking issues fixed, and thats proven incredibly hard as no banks want their business.
So Gox is stuck paying out at a trickle and is losing tons of market share every day, so the importance of Gox to LTC dropped dramatically.
Given all this, the fact that LTC is back over $4 and holding steady at .01 BTC is proof positive that this coin is here to stay and has major support.
LTC has a big, bright future which has only just begun. We need to ask merchants and vendors to accept LTC as soon as possible.
Gox wont update to Midas until they have their banking issues fixed, and thats proven incredibly hard as no banks want their business.
So Gox is stuck paying out at a trickle and is losing tons of market share every day, so the importance of Gox to LTC dropped dramatically.
Given all this, the fact that LTC is back over $4 and holding steady at .01 BTC is proof positive that this coin is here to stay and has major support.
LTC has a big, bright future which has only just begun. We need to ask merchants and vendors to accept LTC as soon as possible.
Lets just wait for litecoin to go up, it has the potential to reach 4times cheaper then Bitcoin...
you also need to take into account other alts. i'd give it 1/20 at its best. 
Lets just wait for litecoin to go up, it has the potential to reach 4times cheaper then Bitcoin...
the litecoin potential is still there after all its the 2nd biggest coin with a market cap of almost 100 million
see this post for a list of reason , why Litecoin will succeed https://bitcointalksearch.org/topic/m.3590060
see this post for a list of reason , why Litecoin will succeed https://bitcointalksearch.org/topic/m.3590060
Oh, I am sorry. Well, my point is litecoin is only 4 times 'worse' than bitcoin (max coin cap)
You are comparing apple to oranges.So if I create a shitcoin with a coin cap of "1" it is automatically better? Or automatically worse?
Makes exactly ZERO sense.
As usual, with litecoin fans.
And a marketplace in which to spend them.
that isnt crucial. bitcoin didnt need places of spendature (excluding sr) to rise into triple digits. i personally beleive that we have big chunk of bitcoin users just buying it as a backup to their wealth as well as long term storage. knowing that such market attracts these people means that bitcoin will only rise. the ones who are into bitcoin for speculation purposes only are very fractional group imho. litecoin can be a wealth storage for poorer folks in the future just as working class mostly stack on silver and richer folk stack on gold.
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Its going to hit $10 in no time......
It will hit that without Gox if bitcoin keeps making progress.
the spread of alternative crypto currencies has been a factor as well.
And, once again, missing the WHY.
Hope and endless repeating does not make it happen.
Hope and endless repeating does not make it happen.
Oh, I am sorry. Well, my point is litecoin is only 4 times 'worse' than bitcoin (max coin cap) and comparable in other aspects. The only advantage of bitcoin is it being a pioneer of cryptocurrencies and more initial user base, but that can grow for both bitcoin and litecoin with time. This advantage of bitcoin may be somewhat counterbalanced by litecoin's faster confirmations time and human psychology where bitcoin can be priced out of reach by common folks while litecoin can still be affordable for a while.
I know that bitcoin is divisible and such, but owning just a fraction of bitcoin and being unable to buy at least 1 full BTC once its price has sky-rocketed makes it less attractive (a person can feel like a loser being able to afford only a 0.1 BTC) and makes alt cryptos more attactive and the first cadidate among them is LTC. And even if LTC can't be 1:4 of LTC per technical design, 1:10 is reachable in the future, where as 75x cheaper to bitcoin is crazy in my very honest and thouroughly thought through opinion, which I am going to stick to until proven by time otherwise.
i agree. its only us are able to understand technical differences between altcoins. the masses will only have to google 'alternative to bitcoin' and they will discover litecoin as the second biggest with powerful enough network. so it will be a no brainer for the masses to invest into litecoin suddenly once the signs of usd plummeting will become evident. all we need now is alternative to localbitcoins.com for litecoin and just wait for demand.
And a marketplace in which to spend them.
Its going to hit $10 in no time...... when Gox announce something...
It will hit that without Gox if bitcoin keeps making progress. Other exchanges have offered LTC for a long time.
Its going to hit $10 in no time...... when Gox announce something...
And one more. Computer users know the importance of backing up data. Data is precious. If data is only available on one physical device - that's a single point of failure. Hard drives do crash from time to time with data rendered unrecoverable. So, backups are exteremely important. I am sure everyone has ever lost some of their data and feeling bad about it. Did I mention backups are important? Oh yes, I guess I did.
So, not to beat around the bush here. Litecoin (and other alt coins in lesser extent at this time, but may be more in the future) is a backup of bitcoin. If (knock on wood here) something happens to BTC network, LTC can take over and be a backup network and payment mechanism to rely on while BTC network is being repaired, etc. Backups are important, what more can I say.
So, not to beat around the bush here. Litecoin (and other alt coins in lesser extent at this time, but may be more in the future) is a backup of bitcoin. If (knock on wood here) something happens to BTC network, LTC can take over and be a backup network and payment mechanism to rely on while BTC network is being repaired, etc. Backups are important, what more can I say.
And, once again, missing the WHY.
Hope and endless repeating does not make it happen.
Hope and endless repeating does not make it happen.
Oh, I am sorry. Well, my point is litecoin is only 4 times 'worse' than bitcoin (max coin cap) and comparable in other aspects. The only advantage of bitcoin is it being a pioneer of cryptocurrencies and more initial user base, but that can grow for both bitcoin and litecoin with time. This advantage of bitcoin may be somewhat counterbalanced by litecoin's faster confirmations time and human psychology where bitcoin can be priced out of reach by common folks while litecoin can still be affordable for a while.
I know that bitcoin is divisible and such, but owning just a fraction of bitcoin and being unable to buy at least 1 full BTC once its price has sky-rocketed makes it less attractive (a person can feel like a loser being able to afford only a 0.1 BTC) and makes alt cryptos more attactive and the first cadidate among them is LTC. And even if LTC can't be 1:4 of LTC per technical design, 1:10 is reachable in the future, where as 75x cheaper to bitcoin is crazy in my very honest and thouroughly thought through opinion, which I am going to stick to until proven by time otherwise.
i agree. its only us are able to understand technical differences between altcoins. the masses will only have to google 'alternative to bitcoin' and they will discover litecoin as the second biggest with powerful enough network. so it will be a no brainer for the masses to invest into litecoin suddenly once the signs of usd plummeting will become evident. all we need now is alternative to localbitcoins.com for litecoin and just wait for demand.
And, once again, missing the WHY.
Hope and endless repeating does not make it happen.
Hope and endless repeating does not make it happen.
Oh, I am sorry. Well, my point is litecoin is only 4 times 'worse' than bitcoin (max coin cap) and comparable in other aspects. The only advantage of bitcoin is it being a pioneer of cryptocurrencies and more initial user base, but that can grow for both bitcoin and litecoin with time. This advantage of bitcoin may be somewhat counterbalanced by litecoin's faster confirmations time and human psychology where bitcoin can be priced out of reach by common folks while litecoin can still be affordable for a while.
I know that bitcoin is divisible and such, but owning just a fraction of bitcoin and being unable to buy at least 1 full BTC once its price has sky-rocketed makes it less attractive (a person can feel like a loser being able to afford only a 0.1 BTC) and makes alt cryptos more attactive and the first cadidate among them is LTC. And even if LTC can't be 1:4 of LTC per technical design, 1:10 is reachable in the future, where as 75x cheaper to bitcoin is crazy in my very honest and thouroughly thought through opinion, which I am going to stick to until proven by time otherwise.
Litecoin to rise above 4 USD before Dec 25th
Let's see where the confidence is.
That would roughly mean 0.02 per BTC at 200 USD, or 0.018 for current price.
Let's see where the confidence is.
That would roughly mean 0.02 per BTC at 200 USD, or 0.018 for current price.
Litecoin is bound to appreciate relative to bitcoin, makes no sense that it's 75x cheaper now.
Or Kraken.
And yet, no one seems to care - it's not like it's hard to get LTC for BTC when you have BTC from fiat anyway.
That's why the "Mt.Gox will adopt litecoin" hope train is pretty much irrelevant.
And yet, no one seems to care - it's not like it's hard to get LTC for BTC when you have BTC from fiat anyway.
That's why the "Mt.Gox will adopt litecoin" hope train is pretty much irrelevant.
Kraken is non-US, correct? So Kraken for EU and CoinMKT.com for US?
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