Bitcoin Forum

anyone have any idea why btc is dropping so much in relation to LTC, its practically double in the last 24hrs...??

edit: as in is there a specific reason that you can think of, no just "well people want ltc more"

Hype.

I'm waiting for my 16 ltc to become valuable enough to buy 1 or 2 bitcoins. Right now they are 0.52

Both have market values that reflect sentiment and right now there is a lot of hysteria so you'd expect the prices to be all over the place.

Well, for one thing, hedging is always sound strategy. 

Bitcoin is still extremely undervalued.  Some people believe Litecoin to be slightly more undervalued than Bitcoin is - it's one of the very few viable alternatives/competitors/complements to BTC that features important technological distinctions.  So Litecoin is catching up a little.  Altcoins have a bad reputation because most of them are indeed pump-and-dump junk or naive tweaks without the balancing act brilliance that underpins BTC.  But one or two of them may just have a very exciting future of their own to look forward to.

seems logical enough thanks for the explanation


do you think btc will one day be the "gold" of digital currency and ltc as the "silver" 

With the best will in the world I think those two analogies are over-simplistic.  In the context of investment, silver and gold don't fundamentally differ from each other - cue PM junkie rage. ;)  Litecoin and Bitcoin have slightly different architectures and therefore each represents a fundamentally different technological profile of resistances, vulnerabilities and opportunities.

Nobody can predict the future.  I think the real trick is being honest with yourself that nobody knows how this will all pan out and the best you can hope to do is research thoroughly and cover your options as best you can. 8)

many will say ltc is being pumped via hedging of bears or people who invest 1,000 feeling like 500 ltc 2 months ago was even safer then 140 buyin of BTC. Maybe late adopters see it going even higher.. but alot of it is speculation due to less infrastructure pos system and such. Not that the gap can't be filled.

Well LTC is $34 and BTC is $1050....Silver is $20 an oz and Gold $1200....So it basically is.

Chodpapa put the ratio at 1/(e^4) or 0.018, perhaps he was wrong, or perhaps a huge correction is imminent. https://bitcointalk.org/index.php?topic=259385.msg2789856#msg2789856. Litecoin has no shorting mechanism at all, and binfinex doesn't count. I wish i had gotten into LTC having forseen the psychological narrative of "buying the cheaper one", but I was too chicken.

I believe because many started talking about Litecoins even outside Alternative currency section where these Litecoin discussions belong  ;)

Beats me, but it makes me glad I got in with BTC when the BTC/LTC rate was at record lows :)

Litecoin is a pump and dump, primarily due to BTC-E and it's famous troll-box...when Fonta's and crew are done screwing all the newbie investors it will crash back to earth.

I think this is related to the upcoming scrypt asics.

I feel your fear. I took some insurance against that Litecon threat after having felt the same fear when it did the same crazy rally half a year back.

The problem I see is that the irrationality in buying Litecoin may actually become a self fulfilling prophecy.

The higher it goes, the more people start to accept it, the more start to mine it, and the more start to buy it.  

Trow in some infighting or unexpected screw up for bitcoin, and before you know it litecoin is bigger as bitcoin and you missed out.

So I would say, take some small insurance now, accept the premium as a punishment for not having thought about fire insurance before the fire broke out, and if it corrects take a decent insurance.

I'll sell you some ;) This insurance business is awesome!  ;D

Atl coins that provide no new value over bitcoin, but are simple copies, IMHO are the biggest threat to bitcoin in general. I have a ready response to all the doubters questions except for the proliferation of alt coins...

I think they do offer some value as a backup for bitcoin, a distractor for authorities and people who would like to see bitcoin die, and one day a superior altcoin than bitcoin may emerge.

I understand your fear but I think that no altcoin will take away value from bitcoin as long as bitcoin remains superior. The competition is good to put the pressure on the bitcoin dev team not to screw up.

The only threat to Bitcoin is a better currency.  If Bitcoin is indeed "better", let it prove it over the course of history.  Anything else is subjective BS.  What matters is that math based currencies find good roots.  The "brand" name is irrelevant to solving global monetary issues. 

I can't try to make sense of it, but I can tell you my personal thoughts.

If bitcoin is the only payment method, how are you gonna pay for your coffee? a couple satoshis? what about the change? the transaction fee?

As far as I know, dust transactions are already a problem and we're only like what? 4-5 years into this beta project? I'm not so sure the bitcoin network can handle billions of micro-transactions of 2 or 3 satoshis every few seconds around the globe.

I think bitcoin will be the money of nations (like gold) and litecoin will be the money of gentlemen (like silver)

*edit* - also, I don't think 1 monetary system to rule them all is very healthy, kinda goes away from the decentralized idea for me philosophically. I think I would prefer a world with many competing currencies.

Yup, litecoin is actually less scalable. More blocks means more overhead.

An altcoin that can handle fast microtransactions will come about sooner or later.

Can you explain this / link to something that may explain it? I don't see how scalability is related to block generation speed at all.

LTC o' gonna crash hard soon..

Some people buying based on a weird belief that litecoin is cheap and bitcoin is expensive... I wonder what will happen when litecoin becomes expensive as well  :o

Some of us will get rich.   ;D

I ended up converting my litecoins that I've mined for free (minus electricity) and converted them to 5 BTC today.

I still have 130 lite coins left for "just in case" it makes it big..

but the thing is, if bitcoin dies, then all the other coins die.

however, if lite coin dies, bitcoin can still continue. does that make sense? so that was my decision in converting LTC into BTC, while it was at $39 per ltc.

Well  :) it seems, that Max Kaiser was right all along. LTC will be soon worth 50 dollars. Congrats to its holders.

Obviously but i 'm asking if there is a 3rd coin that people will move to after litecoin.

NMC, XPM, NVC, TRC, PPC, ...and 100 others.

Take your pick.

I 'm asking if there is an obvious pick like litecoin was. No alt coin seems to stand out at the moment.

If LTC was obvious, why don't you have more?

LiteCoin gives late comers the illusion of being early adopters. Now that Litecoin isn't available for pennies any more, we should expect yet another blockchain filling that need.

More than what? More than i can afford? Your question doesn't even make sense  ::)

I went off blockchain for my 3rd crypto-currency.  My choices from my first month in the space have been:

Bitcoin, Litecoin and Ripple.  

Take a look at NMC, which has a lot of potential IMHO (because it offers really distinct uses).  Also PPC is interesting, as PoS is technically different (much more different than LTC to BTC).  At least, that's my personal opinion, and I have some (small compared to BTC) holdings in LTC, NMC and PPC.

Yes ppc and nmc bring something new to the table but i 'm considering primecoin as well

I think altcoin's are very good for bitcoin ecosystem.
First, they allow to spam transactions like its no tomorrow. And it's faster and cheaper to do this with alts. As merchant I prefer to not spam bitcoin because don't want to grow it's blockchain too big too fast.
Second, some of you are wrong that if bitcoin die other cryptos will die too. Alt coins are here to allow experiments with new ideas and when governments will try to regulate bitcoin too much, we can spam them altcoin's to death and this will be too expensive for them to kill them all (like killing bitcoin alone would be easy).

Said that I don't think alts are competing with bitcoin, they are helping it grow and making it even stronger.

When LTC is in a frenzy, the trend almost reached its top, it clearly indicated that only speculators are supporting the price

Supporting the price of what? LTC? Isn't that what people talk against bitcoin anyway? Don't be like them.

XPM is interesting because at least it is not a lazy carbon copy of litecoin.

Personally, I am putting the following top 3 in my book.

Bitcoin, Litecoin, then Primecoin.

These are the only coins which I only focus and mining. Not to forget Namecoin, but I think that is the 4th in my book.

Of the people I've spoken to about BTC, they all feel they have missed the boat.  Everybody wants to realize the 'early adopter' gains, so they move to research alternatives.  It leads them to LTC where they easily buy in to its supposed advantages in hopes that they can get rich on minimal fiat.

I have a feeling it's going to end badly for these folks.  LTC might hit $100, but at that point I can see it stagnating and crashing.  This assumes LTC does not achieve vendor adoption.  If it does, perhaps it will have staying power.

If you really are an investor you invest in alt coins aswell.

(emphasis mine)

No pun intended, right? ;D

- Colbee is the brother of the CEO of BTCCHINA which received a solid funding recently.

- https://www.okpay.com/en/company/news/okpay-now-supports-litecoin-currency.html

- CaVirtEx adds LTC: https://i.imgur.com/XfnANny.png

- http://finance.yahoo.com/news/litecoin-heres-everything-know-digital-193238685.html

I think this article has a lot to do with the last 12-20 hours price spike:

http://www.businessinsider.com/introduction-to-litecoin-2013-11

So you went all in before the bubble?  Good job.  Why are you asking us about what to buy next?  It seems like you know what you are doing.

Hype brings the rise in price and rise brings more hype. I think it takes a little push and litecoin will hit 100$.