Bitcoin Forum

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Um, ltc is still holding above 4.  Yeah huge crash for ltc.

Lol, yeah. Its chilling around $4.20 LIKE A BOSS.

Other alt currencies... I dont follow and am not surprised if they are crashing, their circulation and total market caps are so low.

This guy is a troll

I'm also chillin' at 420 like a boss. :)

Op looks more and more like an idiot every time he opens his mouth.  

Oh and LTC is up to 4.4 now. lol, crashing hard...

"You has been banned. 317 minutes left."

The garbage is overflowing from BTC-e chat to here.

Then MtGox is incompetent.  I wouldn't trade there period if that happens.  Gox is losing market share as we speak.  Soon it will no longer be the powerhouse as it constantly crashes and can barely trade bitcoin.

Not worried one bit about LTC.  Though you BTC fanboys are for sure.

BTC is a slug compared to LTC. True story. Try it and I bet you'll never return to prehistoric BTC :p

Yeah, cause I'm going to wait two hours for my btc to confirm until I get my burger and fries...

BTC has it's uses and so does LTC. But lose out on the next gold silver rush.  What do I care?

My Altcoin Gods provided me with over $100k in pure profit over the course of 45 minutes. The Bitcoin Gods gave me $200 over a 3 week period.

I'd rather stick to my LTC and do it all over again.

Wow, you are an idiot.  Ignore you go.

Funny how you turn a good thing into a bad thing. The fact bitcoin doubled in a week and ltc stayed at same price vs fiat shows so much resilience. Plus... If you wanna brag about bitcoin doubling, I'll brag about litecoin going up 10folds. Even against btc. So, good try, but pretty bad result.

Why hath you forsaken me AltGod?! T_T Time to start sacraficing the first born of every LiteCoin miner!

It is somewhat more stable at the moment. Bitcoin is going up and up and up and at a certain moment people become afraid to hold it. That seems to be a dangerous situation to put the money in. Especially if you don't have it lying around. 

But more important than uses, is the fact that there is choice. Bitcoin is developed following an open source strategy. Forking a project means more people working on it. More people working on the code (even if it is a fork) means more safety, less chance the idea disappears and more new ideas are constructed.

PPCoin is a fork, which has some truly novel ideas in it. It doesn't matter it is better or not in the end. It matters that people can experiment with cryptocurrencies, so at the end bitcoin can evolve further. You can not do this kind of experimentation on bitcoins, but you can do it in a fresh fork.

.You seem to think the 300 000 mtgox users are active miners and visit these forums regularly? Mtgox has reached a much more mainstream user base and the addition of ltc as a currency there will indeed show people something new.

I'm sorry but all I see here is bias with unfounded arguments. I have a hard time understand why the few haters put so much energy into hating if their main arguments are usually along the line of "ltc is not a threat".

Relative to the $ the price of alt coins is about the same.

LTC seems to be doing fine.

The Gold/Silver analogy seems perfect imho.

What I don't get is why someone who with his account promotes his business would go on a stupid hating spree for no apparent reason.
Bad PR broski. ( I actually considered shopping at your store earlier today. Not so much anymore. )

Also, not sure why you're so mad. Did you miss the opportunity to make a few bucks on LTC and now decide to hate on everyone who took the chance?

I don't know whether OP's an idiot, but I think that particular argument is sound. 2.5 minutes confirmation time doesn't have that many use cases over 10 minutes. Either would need an instant confirmation system implemented on top (or just accepting 0-confirmation) to work for most stuff, including groceries and fast food.

Wow. This guy...

I don't get it. The coins are almost all still worth the same value in USD. What changed? Nothing. Just BTC is worth more. Alt coins don't magically become worth millions just because BTC goes to the moon. They are judged on their own merits and get traded as such. Chill people. The ALT/BTC ratio means you just get a smaller percent of a larger pie. It works out about the same.

people usually respond like this out of fear.

is he afraid of LTC or jealous?

In the world we have Yen, Pounds, Yuan, Rupees, Dollars - that trade freely against one another.

What is the problem?

Also I would not buy at your store either - such vitriol over currency, if you were smart you would implement a LTC pay button and let more money roll in.

"AltGods" - in the title - a little unhinged maybe too?

Why are you even bothering making this thread if you think LTC is nothing?

Yeah don't have a lot of ways to spend, but this is the same history when BTC started...
What people will think, if they know that Bitcoin started in 2009 where thousands of coins where mined from few persons?


They crashed so hard, that they still the same price in a BTC <-> Altcoin rate. When their prices rise because of pump'n dumps, the price goes down again to equilibrium because Altcoins aren't based only on one exchange, like MtGOX, deal with it.

I'm pretty sure Litecoin is starting the same way Bitcoin did?

By the way, from the looks of it the last time there was a massive jump in BTC price like this it crashed down to $5.00

Sorry, but I don't trust a person with the screename "Bitcoin Megastore" to provide remotely objective statements on the future of any coin, much less its competition.

You rational is all based on Bitcoin being bitcoin. Bitcoin was the first, and still is by far the most widespread cryptocurrency. It started as an experiment and took off. I do not dislike bitcoin in any way, but nothing says the first will be the only and last. It started as an experiment and turned out OK. A lot of alt coins have tried and failed, that's evolution, natural selection. Only btc ltc and perhaps maybe ppc have a chance at market share at the moment. Ltc is now strong because people support it. The little hater group isn't gonna bring it down now if they were not able before.

Use your energy towards your business I should say. Whatever yo're trying to do right now is in vain.

Great response! He is obviously frightened.

We must embrace the future. To me LTC is better than BTC. I have turned all my BTC to LTC because i like it and I believe in it. I take the risk to go with LTC. This is a chicken that i find precious. And it will rise...riseee 8)

Moreover, everything that i can do with BTC, i can do with LTC too. Many merchants accept it, and more are added to the list. The target price for LTC is 80€-100€ and for BTC 150€-500€.

The future will prove me wrong or right. And if you dont like it, then dont use it. You do not have to. There will be other, better and more clever stores that will take the profit you denied to foresee..

It's a sign that people are frantic about putting their money into bitcoin, and have no time/money at the moment for funnycoins. Must be one of the last stages of the bubble.

My altcoins earned me enough to buy some mining hardware.

These kinds of discussions don't make any sense to me.  Why do you care so passionately about the choices other people make in life?  Until yesterday, I never bought a Litecoin in my life, but I never felt the need to trash Litecoin users.

Congratulations on taking alucinations and thinking they are the truth, you got me a laugh, thanks :)

And a hint: go read about PPC and FRC, I don't think that they have changed only 1% of the code and worked and are working very hard for it as Bitcoin developers too

Disregard OP. Obvious troll is obvious. He's trash talking altcoins in the altcoin forum. That's like signing up to a WWF forum to say it's all fake.

Litecoin still is more profitable to mine - http://www.coinchoose.com/ (http://www.coinchoose.com/)

That assumes the price stays constant, and if BTC-e goes down there is no easy way of maknig your LTC become BTC, etc.

Human beings are worthy of more in life than just wasting their time over trash.  There are so many good things to do with one's life.

Actually - Vircurex, but as of the current moment, yes.  Pricing keeps changing there and LTC has been more profitable for days.

No offense intended to anyone here, but this isn't a pissing contest. We're an ecosystem. If LTC fails at this point, it shows an adopted crypto-currency is vulnerable. Infighting is the last thing we need. Progress for any crypto-currency is progress for the whole of crypto. But hey, if you need to patch your insecurities by declaration of sole allegiance to the crypto you assign your identity to, well, you go on ahead and do that, partner! ;)

Damn... I don't imagine this guy running any kind of store will ever be successful at it.
I mean, yes customers can be difficult, but to give good customer service, you must be willing to at least TRY to see things from their view...
... If your idea of that view is from the viewpoint of "a piece of garbage", well... you're not going to see much.  Garbage doesn't have eyes.
And it probably has a huge ignore list... I mean garbage just sits there and ignores everything and stinks alot.  :D

This whole thread is such massive fail. Altcoin price is generally measured vs the big daddy coin, so obviously when BTC/fiat exchange rates go up alt coin price appears to drop. The truly viable alt coins will do as they've done each time BTC price has corrected upward sharply, they will catch up given time.

nope. no crash here.
>says the guy who has a cafepress-based "megastore"....

More like weeks.

QFT, words right out of my mouth.

http://img140.imageshack.us/img140/6015/funnypicturestrollcarha.jpg


The alternate cryptocurrency crew riding the BTC bubble.

All those AltCoins only weaken the concept of cryptocurrency in a whole.

I'm really fucked up with those "silver-bronze-wooden-etc to bitcoin" alternatives.
Instead of helping to develop the original strong cryptocurrency, someone is just wasting time trying to re-invent a bicycle.

Don't you understand that single solid thing is better than number of clones fighting for existence.
Just refer to the history and you will clearly see that all significant achievements in our civilization are products of the unity.

Holy cow the yen is like the yuan is like the dollar is like the pound.... this will only weaken money.

LTC is going to gox.  It's about time you bitcoin fanboys deal with it.

How much time mr. wizard? Say another month like the last month of massive BTC/USD exchange rate hikes?

https://i.imgur.com/5sXr2VD.png

For those following along at home that's .0075 - .02199 in 1 month. An increase in LTC/BTC value of .01449 or 193.2% at this moment. Please consider the OP's perspective to be worth precisely what you paid for it...or possibly less.

Bitcoin has done AWESOME during that month. Definitely one of the best investments in the world. There's at least one thing that's done better however. LITECOIN HAS KICKED BTC's ASS in the last 30 days.

Exactly. Multiple currencies affect free trade concepts and slow down the progress of our civilization.

LOL... Now you sound like the IMF... Soon you'll be telling us how good bancors are for everyone.  But hey good luck with the Euro.

Oh the irony

Fuck EURO! I meant gold standard.

inb4 Bitcoin Megastore accepts LTC ;D

we do NOT need one single blockchain as we do NOT need one single world government. only the establishment of bitcoin (the very early adopters) want to have only one blockchain. humanity needs bitcoin as a technology, not as a get-rich-quick scheme.

we need multiple blockchains in oder to have a stable ecosystem of crypto currencies. we have already witnessed a bitcoin blockchain fork (this was the point where a noticeable price increase of the alt chains happened). bitcoin is not anymore useful for microtransactions which will be the majority of transactions on the web. also is bitcoin not any more a real P2P system as it used to be in the beginning. the centralization of mining-power to a few destabilizes the system as a whole. the last days the bitcoin price grew too fast and everybody is already speaking about when the bubble will pop. this will be the time when the altcoins rise and become a viable alternative to bitcoin. once you started using crypto currencies you do not want to go back to fiat.

by the way, we need a cryptocoin payment processor...  is already anybody working on it?

remember: the amount of bitcoins is limited to 21.000.000. the amount of cryptocurrencies is unlimited and this is a good thing.

@human: Which alternative cryptocurrency provides a solution to any of the concerns you've stated? I'm not against an alternative to Bitcoin, but an alternative needs to be a different technology to increase the stability and resilience of the ecosystem. Multiple Bitcoin's don't provide any benefit. If you want to increase maximum possible transaction count, you can increase the block size. It's not like any of the alternative coins allow a more compact form of transaction.


Why?

I guess the best analogy to that question is the EURO. Having 1 currency ties everything together and creates much instability, and fear because of the weak ties. Sure you can come with arguments of why comparing fiat to crypto, but that is not the point, the point is diversity makes your fate your own, not everyone else.

There is no one alternative which is a solution for all problems. Thats why we need a ecosystem of competing cryptocurrencies.

And I agree that the new cryptocurrencies are not as revolutionary as Bitcoin was at the beginning. But still there are differences in the technology. SHA256 and scrypt, POW and POS and different inflation rates...
With multiple stable blockchains with different market caps we can use the chain which is suited the best for the transaction. For example, if I want to transfer thousands I use bitcoin. If i want to transfer a few cents I use PPC and so on. In this way we do not need to broadcast every transaction to every node in the network which is already not practical. If I want to do blockchain verifying with my phone I also can not use anymore Bitcoin. The more equal the nodes are and the more wealth is spread accross the network the more stable and resilient the system is. Don't you agree?

Why? Why it is a good thing to have multiple currencies? Why is it a good thing to have a free choice between multiple alternatives? Why shall we be locked down in a more and more centralized system? This is exactly from where we wanted to escape with bitcoin. Now we see that bitcoin is not the solution. It is only the start.

what a pity, I've just invested in an altcoin mining rig...

http://sphotos-d.ak.fbcdn.net/hphotos-ak-ash4/483409_512319848813541_1691758020_n.jpg

BTC at 140$, where is your Bitgod now?

No, I was asking why a credible limit in money supply is not preferable, but maybe I misunderstood your statement. I see competing currencies as healthy because it is good for innovation and resilience, however increased money supply is an unfortunate side effect (excluding systems like ripple).

Yes, I agree that some differences are interesting, especially PoS. However, they are still very low level technical tweaks that are mostly irrelevant to the currency. Radically different inflation or distribution can also be of interest. Freicoin, in this regard is a worthy alternative, though I don't think it will succeed. I don't think Litecoin or other tuned-up Bitcoin clones are worth pursuing. I find PPCoin very interesting, however if it succeeds, I would want to see PoS integrated into Bitcoin rather than having an alternative with a different verification mechanism as its mere justification of existence.

Also, any early adopter of Bitcoin can easily become an early adopter of an alt, so I don't think the discussion is about greed or envy. Rather I think some are worried that competition between cryptocurrencies will be used as FUD to weaken all of them. The argument is, "If anyone can start a cryptocurrency, the limit isn't actually 21 million, it's infinite". I'll let you figure out a good argument you can use against this in the public arena.

I think in the end we will have competing systems and currencies, but they would all need to be revolutionary new concepts or have radical differences if we want to benefit from diversity. Some alts have this, some alts don't.

Well, it is not so easy to start a new coin and definitely not for everyone. You need a very good developer, an interesting concept, a community behind it. You need to tell a good story why again a new coin is needed and get some miners behind it. Then you need supporting exchanges and services and so on and so on...

Bitcoin itself has also a increased money supply. It can not be so bad. It is just about the question how fast the money supply has to increase and who controls it. With prices growing so fast Bitcoin's money supply is not high enough for its growing economy and also not meeting the demand. Having a deterministic money supply is probably not so good as everyone thought at the beginning.

PPCoin and NovaCoin (both POS coins) are indeed interesting. I am also looking forward to MC2coin.

While MC2 is interesting, it's, sadly, barely in the whitepaper stage. Gotta work with what we have now. :P

Pride cometh before a fall?

So when does BitCoin Megastore come back in and see that BTC has crashed, while BTC/LTC has stayed steady, and LTC is still generally strong?

i rofled so hard when i saw that btc was so low remembering this post...

WHERE IS YOUR BITCOIN-GOD NOW??

I was just about to post this.  ;D ;D ;D


 :P OP :P

trollface.jpg  :D

This became one of the BEST threads in this section ;D

I must say the Pride-cometh-before-the-fall here is Epic.

I anticipate that BTC will in the following day or so stabilize at around half its peak value but then follow a gradual decline back into the 30-60 dollar level over a month or two.  In other words we will see a broad replication of the July 2011 bubble and crash, simply from a higher base price.  Now it's still very likely that BTC will in the long term stabilize at a price higher then what it had just before the bubble started in February, but this means that as in all bubbles people who came in late will have lost.

It will be interesting to see what happens to the alt-coins, will they fall in sync with BTC, or will their value be largely dis-connected from it.  LTC logically has potential to be disconnected because of its differing hash, on the other hand it is also closer to BTC in being 'big' (well bigger then the other alts) so it might be effected by broad public perception of crypto-currency.

I'm hopefull that alts can start to emerge out of the shadow of BTC and that their will be a movement away from the mentality that BTC and it's original protocol was some kind of perfect thing handed down by a demi-god.  But rather that the future is going to be a succession of one alt supplanting another in a potentially endless succession (or at the least keeping them from stagnating), the same standard we expect with any other piece of software.

It's really to early to say that this is a bubble.  I think it can go up or down right now.

People don't don't economic terminology. Crash is 99% of the time misused, and bubble 95% of the time.

Of course its a bubble. You can even mathematically confirm that. That's not the question. Everything that rises is a bubble, meaning it goes over real value, but you need to speculate to make something rise (very short term up to long term), because even when something is fundamental, traders (users) have to speculate about the extent of the effect of the fundamental. The question is... Will the real value meet with the speculative value.

And the answer to that question seems to be yes. Because as much as it rose lately, the usage seems to have completely or more matched.

sorry to say but litecoin is still up there and will be lot of people believe in them so that most bitcoin farmers have stop mining them and turn to litecoin because it is more profitable so yea altgods are still here and will be here bitcoin is just the beginning to things to come that is what the creator wanted . For people to be liberated form all this fucking taxs and gov and manipulation of the banks so just think about this.. 

Is the undeterministic money supply in PPCoin and NovaCoin a side effect of PoS or is there an economic background to that? Sorry if off-topic, please direct me to a documentation if you must (assuming it exists).

So... Where is our CryptoGod now?  8)

This guy gets it.  As far as the altcoins, it seems like LTC has stayed relatively stable vs. BTC and some of the others have increased.

I don't think any altcoin price will be substantially decoupled from BTC until it has widespread merchant support, which (imo) LTC is the closest to attaining right now.

I don't really consider gambling "Merchant support". X_x

I think that was the point. It might finally break the 0.02 conversion rate if there were more merchants using LTC than a couple gambling sites. BTC has slowly found some adoption, but LTC's utility is nearly non-existent save for some gambling and exchange to BTC.

Put your money where your mouth is. Oh wait, you don't have any :D

http://24.media.tumblr.com/tumblr_lvgkkjV7wg1r6aoq4o1_400.gif
Keep it up, Bitcoin Failstore.

I laughed hard at your answer considering it lost less % than bitcoin.

You have a way with words. :D

well, i laughed at the post title "BTC at $220, altcoins crashing. Where are your AltGods now?" it stated that altcoins where crashing and BTC was at $220, then BTC went horribly down. Don't get me wrong I'm a BTC supporter but i don't have anything against LTC. From what i'm seeing today LTC was stable (even a bit higher now, 0,022 BTC) during all this time. Anyway..I found terribly funny this statement just before the drop of the BTC. Maybe you are bringing bad luck!! Please refrain from posting such statements like this again or BTC will hit even a -220 $ !!! (Just kidding if you haven't noticed...)
Chill buddy, just accept that destiny, or karma or wathever, made us laugh a bit ;)