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Title: playing litecoins against bitcoins Post by: technoe on April 13, 2013, 12:20:58 AM Hey everybody
Really new and excited recruit to the whole cryptocurrency revolution. Was made aware about bitcoins back in 2011 from a peter joseph documentary and have been keeping one eye on it the whole time as a bystander, but after this weeks performance i have to say im a believer! I'm a student so havent got alot of money to invest and anytime i have its always been to purchase off silkroad :D Well today i bought around 2.5BTC whilst the price dropped this morning (GMT). I then bought 50 LTC at 0.022 LTC/BTC just to hedge my small investment. I don't intend to cash back into fiat currency at-all and would like to continually invest into cryptocurrencies for the long term. After reading around this forum and watching loads of youtube reports and speculation, its really hard to be completely sure where the bitcoin is heading due to level of mixed views. I personally believe that BTC will stabilise around $150 by the end of next week as people begin to regain confidence in BTC after the huge crash. If it does I think I would invest into LTC with a hope that mtgox also begin to trade it, which will drive the LTC price up to around $10. Do you think hedging BTC against LTC is a good strategy? I'm not sure because it seems that whenever BTC increases the LTC also increases :S And the exchange rate between the two stays fairly constant...Why? I'm no genius, however i find all of this such an exciting movement to be part of and would really like to hear your opinions on the matter! Title: Re: playing litecoins against bitcoins Post by: btc4ever on April 13, 2013, 12:40:22 AM These currencies are all new and a grand experiment. Most people here, I believe understand the world-changing potential that they have. Ultimately the market will choose which currencies are here for the long term and which fall by the wayside. Several already have. Meanwhile, they rise and fall relative to eachother. So yeah, its probably wise to hedge your bets. LTC for example may be a bit riskier than BTC, but given that there will be 80 something million of them vs 21 million BTC, one could conclude that the price should be approx 1/4 of a BTC, but it is far less than that right now. Buying opportunity?
Title: Re: playing litecoins against bitcoins Post by: ironcross360 on April 13, 2013, 12:43:25 AM Silk road? Drugs are bad for you... Talk to that doc thats on this forum they might be able to help you out with some stpircs
Hey everybody Really new and excited recruit to the whole cryptocurrency revolution. Was made aware about bitcoins back in 2011 from a peter joseph documentary and have been keeping one eye on it the whole time as a bystander, but after this weeks performance i have to say im a believer! I'm a student so havent got alot of money to invest and anytime i have its always been to purchase off silkroad :D Well today i bought around 2.5BTC whilst the price dropped this morning (GMT). I then bought 50 LTC at 0.022 LTC/BTC just to hedge my small investment. I don't intend to cash back into fiat currency at-all and would like to continually invest into cryptocurrencies for the long term. After reading around this forum and watching loads of youtube reports and speculation, its really hard to be completely sure where the bitcoin is heading due to level of mixed views. I personally believe that BTC will stabilise around $150 by the end of next week as people begin to regain confidence in BTC after the huge crash. If it does I think I would invest into LTC with a hope that mtgox also begin to trade it, which will drive the LTC price up to around $10. Do you think hedging BTC against LTC is a good strategy? I'm not sure because it seems that whenever BTC increases the LTC also increases :S And the exchange rate between the two stays fairly constant...Why? I'm no genius, however i find all of this such an exciting movement to be part of and would really like to hear your opinions on the matter! Title: Re: playing litecoins against bitcoins Post by: Compeek on April 13, 2013, 12:49:03 AM This is of course no sound or definite truth, but to me, it seems like the exchange rate between Litecoin and Bitcoin is pretty consistent regardless of the exchange rate to the dollar. For example, the exchange rate on BTC-e during the Bitcoin crash the past few days hardly changed. It was around 0.02 BTC per LTC before, and it's around 0.02 after. What did change is the USD per LTC, which dropped from $4.60 or so before to the $1.90-ish yesterday and now $2.50ish today since Bitcoin's value is increasing again.
I actually traded about 0.5 BTC for LTC right before the crash, thinking it might be a good way to end up with more Bitcoins, but I think that was not a successful choice after all. At least those Litecoins they didn't really lose a lot of value (in terms of Bitcoins). I know a couple months ago, a Litecoin was worth something like 0.002 Bitcoins instead of 0.02 like now, so obviously it varies. But, overall it seems like Litecoin tends to match Bitcoin rather than compete with it, in terms of value anyway. Title: Re: playing litecoins against bitcoins Post by: technoe on April 13, 2013, 12:51:57 AM Silk road? Drugs are bad for you... Talk to that doc thats on this forum they might be able to help you out with some stpircs @ironcross360 correct me if i'm wrong, but didn't silkroad play a major part in establishing the BTC as a currency? If that's the case, then the success of BTC is partly down to a demand for drugs ;D I'm not a serious user, but the silkroad is amaaazing. What is a stpirc? a drug :D? i checked the terminology post and couldn't find it sorry. Title: Re: playing litecoins against bitcoins Post by: technoe on April 13, 2013, 01:05:18 AM This is of course no sound or definite truth, but to me, it seems like the exchange rate between Litecoin and Bitcoin is pretty consistent regardless of the exchange rate to the dollar. For example, the exchange rate on BTC-e during the Bitcoin crash the past few days hardly changed. It was around 0.02 BTC per LTC before, and it's around 0.02 after. What did change is the USD per LTC, which dropped from $4.60 or so before to the $1.90-ish yesterday and now $2.50ish today since Bitcoin's value is increasing again. I actually traded about 0.5 BTC for LTC right before the crash, thinking it might be a good way to end up with more Bitcoins, but I think that was not a successful choice after all. At least those Litecoins they didn't really lose a lot of value (in terms of Bitcoins). I know a couple months ago, a Litecoin was worth something like 0.002 Bitcoins instead of 0.02 like now, so obviously it varies. But, overall it seems like Litecoin tends to match Bitcoin rather than compete with it, in terms of value anyway. If u look at the BTC/USD however over the past 3 months http://www.cryptocoincharts.info/period-charts.php?period=3-months&resolution=day&pair=ltc-btc&market=btc-e (http://www.cryptocoincharts.info/period-charts.php?period=3-months&resolution=day&pair=ltc-btc&market=btc-e), you can see its been a general trend upwards despite the volatility. I think @btc4ever might be right, and LTC could potentially reach 1/4 of the BTC by the end of summer. especially after gox starts trading in them also. LTC for example may be a bit riskier than BTC, but given that there will be 80 something million of them vs 21 million BTC, one could conclude that the price should be approx 1/4 of a BTC, but it is far less than that right now. Buying opportunity? I'm also interested to see what will happen when Slovenia and Spain bailout. Do you think it will be a repeat of the past weeks bubble that ends with a higher BTC/LTC value? Could this be a long term trend unfolding? Title: Re: playing litecoins against bitcoins Post by: cointoss on April 13, 2013, 01:43:31 AM For example, the exchange rate on BTC-e during the Bitcoin crash the past few days hardly changed. It was around 0.02 BTC per LTC before, and it's around 0.02 after. What did change is the USD per LTC, which dropped from $4.60 or so before to the $1.90-ish yesterday and now $2.50ish today since Bitcoin's value is increasing again They stayed at such similar ratios because they both fell in value together at similar rates. Had LTC actually been disconnected from the price of BTC, we would have seen a very different LTC/BTC price than we saw before the crash. Title: Re: playing litecoins against bitcoins Post by: Compeek on April 13, 2013, 03:49:11 AM For example, the exchange rate on BTC-e during the Bitcoin crash the past few days hardly changed. It was around 0.02 BTC per LTC before, and it's around 0.02 after. What did change is the USD per LTC, which dropped from $4.60 or so before to the $1.90-ish yesterday and now $2.50ish today since Bitcoin's value is increasing again They stayed at such similar ratios because they both fell in value together at similar rates. Had LTC actually been disconnected from the price of BTC, we would have seen a very different LTC/BTC price than we saw before the crash. Right, exactly. The value of LTC dropped as well. I think that right now people tend to consider them too similar to really treat them differently. Title: Re: playing litecoins against bitcoins Post by: transcendco on April 13, 2013, 03:58:02 AM Yes right now LTC is too dependent on BTC so the pricing is conjoined
Title: Re: playing litecoins against bitcoins Post by: fgjfgh63 on April 13, 2013, 04:09:32 AM thinkit
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