Bitcoin Forum

despite increasing BTC price.

http://www.ltc-charts.com/period-charts.php?period=ytd&resolution=day&pair=ltc-btc&market=btc-e

what's the trigger

I think it's because NVC went out and the people begin to realize that LTC has the similar potential than BTC.

Another cause I was thinking about might be the fact that if the recent growth of BTC market is caused by random people which are not trying to manipulate the price, they might be interested to invest their BTC as well, that's why there are more buys on bitfunder than sells in this period.

Another potential trigger might be some insider information about eminent crash of BTCs, someone might have, that would explain why BTC-e is under such a long DDos attack right now.

Also because ASIC's are now Factually Real Devices for mining, And China has taken intrest in bitcoins, China has alot of ASIC chips laying around
Go ahead and look at the CNY market for bitcoins, Its been rising like crazy

For many miners, ASIC reality starts to sink in, which helps to bring more interest to LTC.

If so, why not in PPCoin or NMC, from your point of view?

PPcoin and namecoin arent scrypt based. I tend to think its because LTC uses a different hashing algo that it is considered more of a backup currency to BTC.

NMC is merged mined with BTC.

PPC also uses SHA256 hashing, which is ASIC-minable if I am not mistaken.

To be a true backup, ideally all SHA256 methods should be replaced by scrypt_1024, but that seems to be a tall order.

People want litecoin, it'll prove to be cheap at anything under $5 this year, it's similarity to btc will prove to be its stregnth not it's weakness. Blanket adoption by Bitcoin hard core enthusiasts ......no, it's a big world out there the public at large don't hear the argument that one shoe fits all. Bitcoin will have other alt-coins following in its wake these provide more opertunity for enthusiastic developers. If you think litecoin will fail I think that's simply because your being short sighted about the impact Bitcoin is going to make over the next 5 years.

Who said ltc will fall?

PPCoin?! Ha-ha!  This is a dying currency. Initially, without any infrastructure. one exchange and one exchanger, who needs it? Even the creators do not care that all the players dropped the chips and left.

If you think litecoin will fail I think that's simply because your being short sighted about the impact Bitcoin is going to make over the next 5 years - rhetorical question based on many opinions in bitcointalk.

Would you please tell us who are you speaking to? Nobody mentioned any possibility of fall of LTCs here, am I wrong?

he says with a PPC addy in his sig...

and where ur basis that all the early adopters have dumped their PPC?? i'm still holding over 70% of what I mined in the first few months.. / weeks :)

Yes, really funny. In the past I believed in PPCoin but now I see it is absolutely useless. Market imploded. Why of mine, if they can not be traded on any exchange or on the BTC? There is no shop, no casino, no infrastructure!

You have a lot of coins, but the future of their sad.

I still believe in PPC :p

For small miners the coins that bigger miners imagine to be dead are the best ones to mine, the only ones they can actually really get some of, getting them before "everyone" realises they are valuable is about the only way to actually get some.

Actually even ppcoin is somewhat difficult/expensive to mine due to its not being merged mine able; best for small miners lately are GRouPcoin and I0coin, as not only are they relatively low difficulty they can also be mined right alongside bitcoins namecoins devcoins ixcoins and coiledcoins.

-MarkM-

You sound like it is your religion.

Noway I just think that in the majority of places on the earth the principles of PPC are much more useful than those of BTC

in PPC you trust  :D

Litecoin is a less hostile environment for newcomers to the crypto currency market. You can still earn coins with a CPU and can do very well with a GPU. It is currently more profitable to mine than any other coin, even propped up Novacoin. While litecoin hasn't been immune to trouble, it does have a pretty good group involved in it and more infrastructure than other alternates.

For someone new to Bitcoin, Litecoin is an easy way to get involved in mining without having to buy dedicated hardware. Bitcoin mining is no longer new user friendly.

I honestly read it as that johnwhitestar ...

hehe I like that smoothie :D

Agreed and just to add my thoughts to this, I think spectators and analysts sometimes underestimate the powerful effect miners have on the economy. If miners move more and more to litecoin the impact will have a massive long term 'trickle up' effect with the added bonus of not affecting bitcoin since btc's infrastructure is so solid and growing exponentially now.

By this logic I guess there would be new altcoins created by switching the hash function to be more cpu friendly and there is always a good chance that it would succeed as well just because it's more new-user-minable?

Maybe you are right but I doubt it.

Another 200GH added by just one delivery:

http://mineforeman.com/2013/03/04/more-avalon-asic-miners-delivered/?goback=%2Egde_3721050_member_219276618 (http://mineforeman.com/2013/03/04/more-avalon-asic-miners-delivered/?goback=%2Egde_3721050_member_219276618)

BTC GPU miners are facing the difficult choices: switching to LTC, or switching off.