Bitcoin Forum

Those past days litecoins went up the roof.
With small difficulty and profit raising for miners what are your thoughts?

I'm personally mining bitcoins right now, from friends CPUs and my own GPUs.

  8)

A lot of people made thousands in the last 2 weeks. It is a bigger risk if you go with litecoins over bitcoins but you could make a lot more money.

I actually just made a very similar topic, https://bitcointalk.org/index.php?topic=152582.0

But since you guys can't post over there yet I'll say what I said before. Personally I think this is a bubble, the price increase is too dramatic for natural growth. It's caused by speculation and and everyone hoping it will be there next Btc investment. The first sign of trouble will cause a calamity of uncertainty and crash the same way Bitcoin experienced it's first bubble.  There is not enough liquidity or Ltc economy (if any) currently to support the large price rise. Regardless of what is in the works it is rising at too fast of a rate to support its growth. Ltc will not hit $3 before its crash.

I actually just started mining LTC yesterday, It is definitely more viable for people with slower rigs...
instead of mining in Mh/s you are mining at Kh/s Not sure why Im limited though seeing as I mine BTC in Mh/s...

either way... if you have a fast mining rig test it out. I saw some people selling 2000+ LTC's for BTC's (close to 1600$ )

Price jumped right after ASICs rolled out, now they are talking about making ltc fpga.

I bet after LTC is difficult to mine, they will move to another potential coin and the cycle continue.

Maybe now is a good time to buy

It looks like a bubble... but instead what it might be better modeled as is a delayed vote of confidence in BTC....!

Think about it:  Would it be possible for BTC to go to 100 (and it will in time) without LTC going to a dollar...?

And LTC has a variety of uses, it turns out, precisely because it is not BTC.

Now is the worst time to buy. Now is the time to mine litecoin and sell asap  ;D

Agreed, now is the time to mine.


As far as "is litecoin real," it is as real as early bitcoin, but it still is looking for a killer app, or even integration with existing bitcoin services. I can easily point to the goods and services offered in bitcoin, but it's hard to do the same for litecoin.

We do need more altcoins to take hold though. The idea that there can only be one is not right. Bitcoin should move from being a standard currency to a reserve currency for it to meet its full potential. Then when you want to move large goods and services between one another, you use bitcoin as a settlement currency. This could allow a person with litecoin to pay a contract to a person who wants ppcoin or even gold bars.

The one thing I dislike about litecoin is the use of scrypt. Once the value in the currency is there, forget about mining it. Botnets will push GPU miners out of business.

I have considered making a speculative investment in litecoin but I'm concerned it will die out due to low acceptance.  I'd say litecoin owners are basically taking a risk of when people will get tired of speculating on litecoins and sell them all.

What is the best way to trade litecoin now?

BTC-e mightn't be perfect, but it works OK for me (most of the time).

Maybe someone could start locallitecoins.com... ;)