Bitcoin Forum

Will Litecoin pass 10$ by the end of June?

Such an extreme increase of value could likely only result, in such a short of time, if Gox implement LTC.

maybe

maybe not

Doubtful, Litecoin has been keeping a pretty steady ratio to Bitcoin, if anything I expect it to decrease with the influx of miners running from the ASICs. That's why I am mining ATM, not buying.

Not many others [retail-wise] implementing LTC either, so no. <10$ thru xmas.

Wouldn't the increase in popularity cause an increase in price?

The end of June is only 2.5 weeks away, unless you know something we don't?

Not necessarily, it would require a lot more dev support. Bitcoin spent quite a while at a small dollar value. The spike in value really came when the speculators arrived. I have no doubt cryptocurrency is the future, but I think Litecoin has a bit of growing up to do first. If it hits $10 all the speculators will bail and possibly take the coin down with them.

A tall order for only two weeks from now, we can only hope though...

I haven't followed Litecoin, but I'm interested to know if this would be considered the top contender to btc in crypto-currencies?

To rehash the tired old quote, Bitcoin is like gold, Litecoin is like silver. In theory when all coins are mined Bitcoin will be used for larger transactions like buying a house or a really (really, really) nice car, Litecoin will have more coins minted in circulation so it can take care of smaller transactions.

Unless a major exchange were to start trading it, no way.

Thanks for the explanation. Makes sense. Although, I think that it would be more beneficial as a whole for everyone to get behind one crypto-currency (Bitcoin), rather than chase all these other upstarts. Bitcoin hasn't even matured. If everyone stuck with one, that currency would advance more rapidly - and reach a larger audience, which leads to more users.

I tend to think that, like Tor, the more users - the more anonymity. It also increases the integrity of the network. Just my opinion.

I agree with you, but there is money to be made with the altcoins and the draw is too much...look at feathercoin when it arrived, some people made out like bandits before it crashed, then rose up and crashed again.

Not june. Probably by end of Aug. That is what am hoping as the GPU miners will no longer be profitable to mine btc's, they are going to turn to alt coins.
My 2 cents.

If Gox adds Litecoin it will go back up to $2.49.

I'm surprised at how many people seem to be hanging out for this event - In my opinion it'll be a total anti-climax.

How are Litecoins currently being mined? With what hardware?

CPU's and GPU's
Scrypt based FPGA is in the works by many companies.

I use 3 HD 7970 Vapor-x cards running CGminer. I hash at 2.150 Mh/s. (To compare I hash at 1800 Gh/s with Bitcoin) No asics for scrypt yet so small timers like myself with gpus can still play.

Thanks! I'm thinking of building a miner this summer and start mining LTC but am wanting to know if the miners used for BTC are the same for LTC.

Well, if crypto-currencies don't go all to shit, they'll run out of Bitcoins to mine.
Yeah, they can do that service-charge shuffle. But that's gonna get old.
So they'll mine sumthin else.

Its just too much of a headache that did not prove useful until now.

How about no. Perhaps later this year when the LTC dev news gets broken / new version comes out and gets traction (hard fork?) and GPU miners switch over from BTC mining but even then, LTC has a long way to go being useful for much IMO. I've only been able to buy one thing with LTC, while I've purchased a dozen or more real world and digital goods with BTC

23 % are right

no, you have to make money different way bro

Chinacoin and Yacoin first.

Is chinacoin still traded?

Yeah, I don't get why it keeps going up and down so much like it is. When I first got into researching cryptos it was at over $4. Then dropped to like 3, then below, then back up to 3.50 or so...

LTC is more volatile than BTC I think.

I'm holding onto my coins in the hope that if LTC getting back up to $5 - which It may do when it becomes tradeable on MT GOX. $10 would make me pee myself with joy... Ok, maybe not.

Today I started mining DGC and WDC. I have no long term faith in these at all, but I figure I can make a small profit by trading out to BTC regularly while I wait for LTC to recover.

Do you think ripples might become more popular than BTC eventually?

I think if it passes 4 i would be happy

It will get there eventually but the end of June is probably a bit optimistic.

As long as it's before September I will be happy!

You must prove ownership by posting.

only when the hell freeze.

If so, I will start shittles

I think big players are dumping LTC to buy back cheaper. LTC 0.8.2 beta client was release for testers in linux, so works are being done.

When 0.8.2 or higher gets to the public, then it's time to buy because it's heading to GOX, or you can do what big players are doing now, buy them now while they are still cheap. :)

I think not  :)

Well we will see about that :)

Has there been any word from MtGox regarding trading LTC?  I heard it was "in the works" but that was several weeks ago.  I was curious if there was some news...

https://twitter.com/MtGox

Litecoin would need to be used to increase in profit. It would also need a better name and logo. I suggested that the community change the coin's name and logo once it becomes more popular but they didn't like the idea.

History speaks for itself

We have gold and silver

We have bitcoins and litecoins

nope not for the next 6 months maybe it just had a crash and trying to recover :-*

my most accurate prediction for 3 months: not less than 1$ - not more than 5$

I don't follow. Gold and silver are physical items that have value that goes above and beyond what the metals themselves are worth (via jewelry and other items). You can't take a Bitcoin and twist it into a physical item that has other real-life uses. Comparing the two to each other is a little asinine.

As far as I know, silver is treated as an entirely different metal than gold is; it doesn't follow in its footsteps. Its value isn't based on what gold's is. So Litecoin, even if Bitcoin were to be "like" gold, would still not be comparable to silver.

The way BTC and LTC seem to behave is still a bit like Gold/Silver.
Not that I agree in the analogy, but silver does follow gold price in the "great contours" - when gold dips 20% silver will also do a dive. PM markets are very complex.

Are you sure about that? I don't follow the markets but I was under the impression that they were all mutually exclusive: gold, silver, diamond, platinum, etc. Going to have to look into this for personal knowledge now, lol.

noway

no it will not, if gox starts trading it it might go up to 5 or so, but that's probably not gonna happen this month

There is still one thing, if 1BTC not gona be 100 000$ we dont need LTC if bitcoins are divisible to 8 decimal places

with the recent 51% attack on FTC, i think ppl are concerned that the LTC will have the same thing happen.

Guess time will tell

What makes you think it won't happen this month?

We've known that 51% attacks are possible pretty much forever as far as I know. Just because one coin managed to be 51% attacked doesn't impact anything. It would take a lot more to take down LTC.

Mid of June but it is still far from the mark.

I've followed gold and silver prices for the last 10 years, and I sold silver for 2 of those years. While the price of one may make a small change independent of the other, the large swings are almost always experienced by both.

Thanks for the clarification!

Would that also mean that as an investor, it isn't really relevant which one you go with? Based on what you're saying it seems like gold is the higher investment and silver would be for smaller investors?

Great read for a newbie like me :)

I think 10 by year end

It may not, but we all hope it will.

Unless Atlantis is online already? But still $ 10 a bit high, maybe $ 5.5 would be better.

Definite no.

I'm a litecoin fan myself, but 400% increase in value over two weeks is highly unlikely.

Even if Mt.Gox announces tomorrow.

I dont believe it will. Doesnt seem to have enough demand tbh. Maybe if a few auctions sites like a certain infmaous one took LTC it would pick up, but well see.

people opinion says no, so no

If you mean eBay, it'll never happen. eBay owns PayPal and PayPal has said many times that they are against BTC (cryptos in general). I think it's because it's an alternative to their service and they don't rack up tons of fees by having a near-monopoly.

Paypal ( resp. Ebay ) will be forced itself to accept cryptomoney - they will more easy will move to this instead of credit card companies, due to see a profit in it ... They are smart guys

No - altcoins are worthless. Period

I wish it did. I still have some left.

by the end of June? - no way  ;)

You never know. We'll see then.

Doesnt look hopeful.

since http://ltcpp.net/ is still in beta,it's not possible

as if a miracle like this is coming...  ;D dumping grounds

Alt-coins won't take off that easy as the world is ruled by *Network Effect*
http://en.wikipedia.org/wiki/Network_effect

Litecoin goes up and down with Bitcoin and lately Bitcoin has been going down.

LTC will drop even more until it will enter gox.. and it will rise like any other coin rise when entered the the exchange sites.

Good point.

Not even if MtGox starts accepting them.

I doubt it. It's been keeping a very steady LTC:BTC conversion ratio. Unless Bitcoin at least doubles in value (lol), and LTC has it's own good luck, the rate isn't going to get above 5.

The factor people seem to be missing is yes gox would cause the price to spike and High but for all different reasons. Most not cyrpto fans and average mom and dad speculators only know of gox. Places like BTCe scare them Gox still has a majority of the traffic and volume. That cant be discounted and when it does pop up on gox eventually people will rush to buy because its "new" not knowing about the 1001 Alts.

What??? Your Goat! If anybody would have inside info on Gox implementing LTC before the end of June it's you! Cmon, fess up! (grin)

I actually hadn't considered that. You're right on that behalf... one thing is for certain: the first few listed will be sold way above value and will make someone a decent amount of money, lol.

no

all depends on a lot of factors.

BTC-E doesn't look like a trustworthy site.

Right now LTC stays around the same profitability BTC.

If it's more profitable then people jump on, increase difficulty. If it's less profitable people jump off, difficulty decreases profitability rises etc...s

So LTC follow BTC price trends - see their price charts.

If this keeps ups, at the current LTC/BTC rate of 0.02082, LTC will hit $10 when BTC hits $480 :)

Quoted for truth.  ;-)

One thing to keep in mind now is that, for the first time, there is a fundamental difference in the organization of the mining between BTC and LTC. 

BTC will continue to oligopolize, and be dominated, likely, by a few players like ASICminer which have the capacity and the cash flow to maintain their market share regardless of network hash rate, and thus induce increases beyond those caused by new hardware coming on line.  This will likely drive all the GPU and FPGA based miners out of active mining.  It will also mean that people that are now buying fixed hash power, regardless of the absolute amount, are going to be disenfranchised in relative terms in BTC.

For the reasons everyone knows - primarily those associated with the work algorithm difference - LTC will remain more decentralized. 

I have my own ideas of what this is going to mean in relative and absolute values of the two, but so does everybody else have their ideas, so I'm not going to bore anyone with mine.

I would atleast like to see it go back to $4.20 ish where it was a month back or so...

It will do....but eventually..

How valid is that. Is there any reason why bitcoin cannot be subdivided into infintely smaller increments. It would just take a naming convention to make that simple. I mean it's hard to state a price as .0000000000001 btc but if that increment had a name it would be simple.

Seems like litecoin is just simply a different currency.

now just near 2

nope, too early

I also see bitcoin becoming an oligarchy. I find it interesting that such a seemingly small detail such as differences in the computational characteristics between the two hashing algorithms could have such a big impact on the organization of the litecoin and bitcoin mining networks. I have seen some threads recently proposing to change the bitcoin hashing algorithm because of the issues you raise, but if ASICs already control most of the network, I wonder if it may be too late.

Seem is true - they keep balance between miners.

doesnt look like it

I hope they could reach $40 to $50 by year end.. ;)

No, but I'm curious to see where it ends up by the end of the year. I wonder if it will ever have the leaps and bounds Bitcoin had.

The price could be below $2. It will only pass $10 if mtgox add it.

Only if BTC pass 500$ - exchange rates of all alt currencies are connected with BTC. BTC goes up - everything goes up :)

We'll just have to wait and find out  :)

End of june no, Maybe end of the Year

Why should it?

Maybe. It Gox adds it it will ballon to $15 in a couple of days.

maybe

not this, not next, not ever! Forget it

i bet against it

what about under 1$ ?

dont look like it

Litecoin will pass 10$ when asics will crash the btc price amha

I just realized OP must be talking about June 2014.

I dunno, its still possible.

Yeah june '14

just possible of btc skyrocks over 1000

Now you have same LTC and BTC efectivity in mining, if LTC will rise to 5$ it will be profitable to mine it

Noobies:

Don't invest in any altcoins before reading A LOT of info about them, their creator, the differences they have with bitcoin (if they just changed one value, like retarget time, it's more than likely a scamcoin), and future planned improvements
See the altcoin forum, https://bitcointalk.org/index.php?board=67.0

I think it can but I hope not before I can get my hands on some LTC.  When will MTGOX let us know, later in the month of?

I think 15 by year end

Why so?

I dont belive in it

I think on early August could be.

Yup. $80  ;D

word! straight northward ;D

Hell no but it will rise :)

It might grow a bit but not to $10 so quick. Future of litecoin really depends on adoption, it could quickly loose value if another strong altcoin where to come along.

That's true. However that doesn't seem to be happening right now.

It may not, but we all hope it will.

Newsflash: It didn't.

lol nope, but gox is still prolly gonna add ltc

at this point I'd just like to see $5 again.l

You all are ungrateful and forgetful people. enjoy.