WTF! Litecoin heading to 'zero'? | Bitcointalksearch.org

MancyZz

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Quote from: Swordsoffreedom on December 03, 2019, 02:49:36 PM

I wouldn't suggest to hold Litecoin but there's many reasons why it's not going to die (go to zero). It is still one of the most traded altcoins, only Ethereum has more volume in last 24 hours (I'm excluding Bitcoin and Tether). People use it a lot for small transactions between exchanges because LTC usually has small withdrawal fees and transactions are faster than Bitcoin.
Hash rate is going to fall until Bitcoin enters another bull run and Litecoin gains in price together with Bitcoin and thus becomes attractive to mine again. Only a matter of time.

I have quite different thoughts. I see from the side of the development of the Litecoin market, is slightly decreased. It is actually very vulnerable. But we can see Litecoin still able to survive until this second. From here it can be seen that Litecoin was able to continue to survive and continue to demonstrate its ability to continue strong. So I highly recommend to continuously improve the support of Litecoin in order to continue to demonstrate its capabilities to the world.

Swordsoffreedom

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I wouldn't suggest to hold Litecoin but there's many reasons why it's not going to die (go to zero). It is still one of the most traded altcoins, only Ethereum has more volume in last 24 hours (I'm excluding Bitcoin and Tether). People use it a lot for small transactions between exchanges because LTC usually has small withdrawal fees and transactions are faster than Bitcoin.
Hash rate is going to fall until Bitcoin enters another bull run and Litecoin gains in price together with Bitcoin and thus becomes attractive to mine again. Only a matter of time.

alani123

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People keep saying that LTC is dying. In fact, for a very long time.
This is such a thread from 2014:
https://bitcointalksearch.org/topic/litecoin-is-officially-dead-658541

My take is that LTC doesn't need to uphold any strict standards related to mining to maintain its price. People making the connection are wrong in my opinion simply because the price is strictly connected to buy/sell demand, supply of coins is stable. This is true with all altcoins but with LTC people make the mistake to think that if difficulty drops or if new miners are released we're going to see a direct connection with the price. That hasn't even shown to be true with BTC. LTC is trading on almost all the platforms that BTC does, it's a huge markets.

People need to get it well in their minds that the events where correlation between real world events and crypto price movements can be observed are very rare.

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Twitter user WhiteRabbit (@WhiteRabbitBTC) has made the bold assertion that Litecoin was going to eventually drop “to zero.” To support the claim, WhiteRabbit showed the last 6 months of hash-rate data and referenced the idea that Litecoin shows no price movements in connection to its scarcity.

The statement comes in the form of a sarcastic thank you to Litecoin users everywhere, claiming that their coin has helped Bitcoin by proving that the stock-to-flow (S2F) model doesn’t apply to “shitcoins.” This is a reference to views held by another user, PlanB (@100trillionUSD), who has been vocal about the fact that Bitcoin follows the S2F model, but most other coins do not.

Source link here

Okay look guys! I know that there is a common saying here in Bitcointalk known to be as "Everyone is entitled to their opinions" or something similar to that.

Of course they are, even a strong critic like WhiteRabbit who predicts Litecoin will be heading towards zero. Everyone has their own reasons and analysis, but it does not mean that they're right or wrong. We won't know unless if it really happens.

I also don't know if Charlie Lee is aware of WhiteRabbit's critical tweet about Litecoin. If yes, I don't know what would be his reaction or response. Unless if they can do something to turn things around for Litecoin, they might prove WhiteRabbit wrong about his claims.

Topic: WTF! Litecoin heading to 'zero'? (Read 125 times)