Bitcoin Forum

Litecoin will still be around for a long time. Can be sure of that.
It just those GPUs are so damn expensive to run. Especially here in UK.

Litecoin is a currency in its infancy, but at the moment it's valued above 200M USD. That price doesn't seem sustainable unless something big happens soon.

I agreed with you, it is so expensive to mine using GPUs in the UK. I am waiting for another 4 LTC to finish mining (That is the minimum withdraw from the pool I am using) then I am turning my GPU miner off for good.

when we wait month or two, there will be so many asics digging up bitcoin that difficulty will be in 2 months 16x bigger than now and many of gpu owners will go to litecoin
see what happens :)

source? And show me your calculations, because 21.5 million coins x 2.50 = 53M

LTC never take off like btc :(

OP wants to talk LTC price down so he can buy more, cheap.

I quite agree, already dumped my holding. In exchange for Bitcoins obviously.

Also, I don't mine scrypt coins anymore. Too expensive with GPUs.

Mining BTC with ASICS does not give you ROI ever. If you already have GPUs, mining Scrypt is still more profitable.

Mining BTC with ASICS does not give you ROI ever. If you already have GPUs, mining Scrypt is still more profitable.

You do realise that Litecoin uses SHA-256 don't you?

The proof of work is not SHA-256.  For the calculation of the merkel roots it does, but not sure how this is even exploitable!

The transaction signing is the same but uses Elliptic Curve signatures.  This is not too much of an issue if you change your addresses often.

at $2.4 a coin, it is very impressive.

what other real currency is valued this high?

at $2.4 a coin, it is very impressive.

what other real currency is valued this high?

But its peak was already a while ago

Just like bitcoin, which rose to $30 and then died at $2

RIP bitcoin :(

do not hold your coins.

make them move in network. do something with them. create more transaction for network. gamble a bit. giveaway some. fake transfer to another account of yourself.  anyway make transaction for litecoin. use your coins.

that give you more profit than holding.

Lost me on that one.   ???

Have you ever used Atlantis though? They do like 5 trades per week. I wouldn't exactly call it a big loss to Litecoins. I'm not sure why Litecoins are at $2.35 each right now, there doesn't seem to be much actual market depth in them, however, like I said, the fact that when Atlantis shut down, and the panic sells lead to a total of 3% decrease in value, from .0200 to .0194 leads me to believe that Atlantis wont really be missed.

I want to know how the hell NVC is priced so high  :o it has ZERO services yet demands a much higher price than LTC.

me too

Have you ever used Atlantis though? They do like 5 trades per week. I wouldn't exactly call it a big loss to Litecoins. I'm not sure why Litecoins are at $2.35 each right now, there doesn't seem to be much actual market depth in them, however, like I said, the fact that when Atlantis shut down, and the panic sells lead to a total of 3% decrease in value, from .0200 to .0194 leads me to believe that Atlantis wont really be missed.

Isn't it supposed to be ultra-rare or something?

The next week will be the big test for LTC with the imminent gox arrival and the 'apparent' fontas pump.

Why sell now when you will definitely profit from it. Although it is to be seen how much profit it will bring.

As soon as real life physical shops start taking it (as is now the case with BTC slowly getting to front end facing shops) it will pick up in value.

Which begs the question, why would a shop adopt Litecoin instead of more established and less risker Bitcoin.

Litecoin is a currency in its infancy, but at the moment it's valued above 200M USD. That price doesn't seem sustainable unless something big happens soon.

Math fail?

Why would a shop adopt either of them?   Better question, why would average consumers switch from instantly swiping a debit card (free) to paying a fee, waiting 30 minutes or more for confirmations, dealing with difficult and cumbersome wallet/blockchain installs, ridiculously long payment addresses and limited avenues to purchase either currency?  

Math fail?

come up with that figure? 5 tades a week? If that's true I would rather say the valuation wasn't justified in the first place, although it might have accounted for some speculative potential.
Making conclusions based on short-term price movements for fundamentals doesn't work out. These things generally take time to be priced in.

I take it upon myself to browse SR and Atlantis, just for entertainment purposes. The 5 trades per week is an exaggeration, however I've never seen more than a handful of things listed there at any time, and nothing ever seems to sell. I've seen SR sellers complaining that they sell 10 things per day on SR, however they do 1 trade every two weeks on Atlantis.

I have a feeling Litecoin Global closing down will cause a whole lot more damage than Atlantis.

What's impressive is that you guys seem to be ignoring any warnings of how the current valuation isn't justified by any margin.

The initial take off was due to Atlantis which has later been intensified by the Gox rumour. Before LTC was worth around a nickel. These prices were justified because of the circumstances back then, and now these circumstances are again very similar. There is no concrete use for Litecoin at this point, and when Bitcoin had the market cap of LTC in 2011 it had silkroad and a several legit merchants. All of which LTC now lacks.

so what should I do with my LTC now that they're worthless?

I see. Well of course SR had a vastly higher volume, and if it did 140x times the volume that wouldn't have been so bad for Atlantis. No idea how the relation really was.
The point is that Atlantis distinguished LTC from any other altcoin and it represented potential for it to be used for something else than a trading game.
LTC Global isn't really something I would attribute value to. What else is there except mining contracts?

LTC Global had quite a few assets, and did an average of 6,000 Litecoins in trades per day. That is a very significant amount of liquidity that is on its way out now.

I love posts about the death of a coin. Indicates much fun ahead the next year.

Holding on to my LTC.

"I'm a long-term investor."

The GPU owners migrated from Bitcoin months ago!

Well name some which aren't miners, exchanges or themselves.

There's gambling and that's about it. It's all a closed loop, nothing outside the usual accumulation of coins.

Well, ART is shares in a art studio that creates dividends by selling art. Esecurity 1 and 2 are shares in servers that sell Anti DDOS hosting. There are some others that I didn't read in depth enough to know exactly what they did, but they weren't gambling, exchanges, or mining contracts.

Nice, I didn't notice them.
How much are they worth?

Litecoin has yet to survive the inflow of GPU miners that *WILL* mine LTC and sell it for BTC. This has only started around August when mining BTC with GPUs got unprofitable, so only a few months so far.

Unless there is equal demand for BTC->LTC trades, LTC price will go down.

oh silly fud.

I've been a Litecoin supporter from the start and suffice it to say it surpassed my expectations. But the whole time there were thing happening which more or less justified the gains.
Until now. Of course brand recognition means something and its much more popular than last year. Even without things to use it.

What I am saying that this all can't happen in a vacuum, and with stuff shutting down the air is starting to get quite thin. I'm not saying its doomed, just that these prices won't hold by a long shot.

It doesn't matter how many people are mining LTC.  The difficulty adjustment ensures that only a certain number of coins are produced each day.

The question is whether people who are mining LTC, or any of the other altcoins, are using them to purchase goods and services (i.e., commerce), or if they are sending them to exchanges to dump for BTC or fiat as soon as possible.

If the answer is the latter, then yes the price will continue to drop.

At least if you cant do a step for ltc, Just don't hold it into your wallet, create transaction's (at least fake one's that transfer your money from one of your account to another account of yourself). Make the coins move in the network. this will help a lot.

https://bitcointalk.org/index.php?topic=99497.msg3222593#msg3222593

LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.

I believe LTC has bright future, MT-Gox will finally add it, doesn't matter when. It is sure that they will. Also, the developer of LTC left Google. He will help LTC in every way, and I'm sure he is very competent. LTC will never go down. Even if it goes it will be for a while. Then, it will climb up again. Remember the days BTC fell to 2$? Everyone can have a bad day..or two

MT-Gox will finally add it, doesn't matter when.

Ok this is the second time you posted that shit. I encourage you to stop.

Atlantis gone for good means it's just another Bitcoin clone now, it had real potential for a while but what remains isn't worth the fuss.
The infamous mtgox adoption (which I still think was a april fools joke) becomes less and less relevant as gox is limping towards it's gave. There is a slim chance that they might get back into the land of the living again and continue with their plans. But that's doesn't justify a price of over $2 USD, or even above a Dollar.

The time to speculate on litecoin was prior to the price going up, not during or after it came down from it's $5-$6 highs. People who started buying after March were coming in at the tail end as were people who began mining. I purchased a few thousand at 5c and sold them for $1-$2 during the initial price rise. Some might say, ignorantly I might add, that I sold too early yet they are too shortsighted to see that I made a much bigger return than anyone who purchased after the price rise.

The current price reflects mtgox speculation and hype. You are in denial if you believe litecoin becoming available on gox will do anything positive for the price at this point in time. It might have done so if it had become available much sooner but we're now towards the end of the year, anyone on mtgox has likely heard about litecoin and has had ample time to send bitcoins to one of the various new exchanges to purchase them. This, coupled with the truckload of scrypt coins now available, shows me that litecoin is vastly overvalued and will probably lose 90%+ of it's value if not 99% given more time. They continue to ignore the fact that the gox of 2013/2014 is not the gox of years past.

People never want to hear that they made a bad investment and some people will hold all the way to the bottom, losing everything in the process. If you're still holding with the idea you're going to sell to people on gox, I ask you, who exactly are these people you're going to sell the coins to for a much higher price? Bitcoin is still very niche, we're all still early adopters, there are no mom and pop people to offload your litecoins for bitcoins and that is what current value is predicated on and it's a farce.

I was fortunate enough to stumble upon the altcoin section of this forum in January which lead to me speculating on a small purchase and mining. Despite making a sizable profit, given what I have learned now via the forums and experience, I can say it was a mistake to purchase them and at this point in time, I wouldn't invest $1 into a single altcoin because that's a $1 that can go into my bitcoin holdings. You only have to look at the major strides Bitcoin has made this year to see the end is soon coming for altcoins.

I have no position in litecoin and therefore no bias. If I thought there was still an opportunity to make money, I would be mining/buying them but I can't see any upside at all.

A very well written informative post.

At least if you cant do a step for ltc, Just don't hold it into your wallet, create transaction's (at least fake one's that transfer your money from one of your account to another account of yourself). Make the coins move in the network. this will help a lot.

More bad news.

Actually that's good news for litecoin. A litecoin asic released at this time would alienate the GPU miner userbase. It would also damage one of litecoin's key differentiating factors. It's better for litecoin if asics come later on, when the currency is more established.

As I've always said, LTC (and the other scrypt coins) need a REAL MARKET to have any long term value.  That means real services and other things to do with them other than dump them for BTC.  And no, two shitty gambling sites doesn't count.

Not sure which sites you are talking about, but https://playt.in is certainly not a shitty site ;)

Are you serious? GPU mining is borderline already for litecoin - how are miners suppose to continue mining ltc without a huge spike in price?

The whole point of this thread was that not only there are no signs for price spike but probably we are going to a steep decline!

Add to this the skyrocketed mining difficulty and you get a nightmare scenario not only for litecoin holders but for all scrypt coins owners!

And I hold large amounts of scrypt based ANC, so I could be biased against the OP but truth is hard to ignore anymore...

Many of the arguments made on this thread about why LTC will die are the same arguments made a couple years ago about why BTC would die.  The fact is, the whole cryptocurrency market is still very young, and there is a lot of potential to carry this market upward.  Does anyone really think that in the years ahead the market will demand BTC and nothing else?  Look at the history of money, there were always multiple tiers of value.  Gold > silver > copper being the easiest to compare with.  So, in the years ahead, as cryptocurrencies move more and more mainstream, the market will demand a tier of valued currencies to deal in.  If BTC continues to move upward, as many of us believe, and becomes more mainstream, as many of us hope, it will appear to be too valuable for smaller transactions.  Back in the day, people did not spend gold on small transactions, that's what silver and copper coins were for.  In the future, I believe something similar will happen with crypto coins, where people will use BTC for their savings and large purchases, and smaller coins like LTC and who knows what else for everyday purchases.

Stores only take one currency.

Guys, LTC started to fall bad, don't know when it will stop.

Maybe it will recover after MT-Gox. Have patience. We might see an LTC < 1$.

The history of money suggests there will only be one currency and everything else will be worthless.  Stores only take one currency.

Wrong on so many levels.  Show us one example in the entire monetary history of the world where there was only one currency and everything else was worthless. 

The LTC community should focus on litecoin being adopted by Bitpay and not MtGox - that is why it will hit bottom soon!

Bitpay (like Bitstamp I believe) is strongly against Litecoin. Not gonna happen unless LTC explodes first.