Bitcoin Forum

I just have litecoin and i begin to be very afraid... Bitcoin is going up and litecoin doesn't move.

Do you think it is the end of Litecoin, and other altcoins in general  ?

does not look like it. this is now the 3056th tread started with the same question, that sure is a lot of energy and time invested for something "dead" 

LTC/BTC : 0.0138. I never remember to have seen such a low rate....

Litecoin has no usage and no innovation.

It was invented to promote GPU mining, even that promise is now broken.

I do not see any reason why anyone would hold it.

I don't think it's dead, but it's clearly fighting a losing battle when it comes to long term survivability. Right now Bitcoin is clearly ahead of every single other altcoins out there in terms of merchant acceptance and userbase. It has the infrastructure that no other coin has - you're far more likely to find a business willing to accept BTC then say DOGE.

I am holding Litecoin for speculation in order to have more Btc.. But I don't believe in it, I think a lot of people are in my situation.

Not necessarily but they have their work cut out
Being Btc-lite will no longer cut. Cutting edge functionality is key. Some other alts do.

All time price chart
https://i.imgur.com/VbwMBqg.jpg
Dont know why the difficulty stops at the beginning of the year at 3100 (end of blue line) however right now its at 14492 and climbing
https://i.imgur.com/P18tXB9.jpg

welcome here:

https://bitcointalk.org/index.php?topic=662058.0

You can have a look for yourself
https://bitcointalk.org/index.php?topic=661938.0 (https://bitcointalk.org/index.php?topic=661938.0)

If anything is in bad shape it would be Ripple

I dont even want to know how many times this same question has been ask about bitcoin in the past

Yeah, until Litecoin hits 0.001 it's ok.

no.

Thanks for the link, I didn't know about it.

I am just asking because I am loosing so much money. Maybe I should convert my litecoin in bitcoin as soon as possible...It seems to go down day after day..

It is low, but not the lowest ever lol.
as others said their is no point in it. or any of the alts, except to trade and make or lose money. they serve no purpose.

lol There was no promise that GPU mining would be forever. That is stupid to claim as anything can have ASICs be developed for it if it is worth the investment into hardware development.

You should get out of Litecoin. But Bitcoin doesn't have much upside potential.

Most likely yes, LTC hype is over, techology is outdated, big whales are slowly sellin their stash off, a lot of small fishes will be left back holdin the bag.
It might stabilize somewhere around 1-2$, but maybe worse.
LTC RxIxP 2014

Basic physic will let you know that you must work to create something. Any active coin (hash) has value because there is financial commitment to it.

I'd be pretty upset if so, I'd have lost some if it was true!

I'm not much for speculating but I predict it'll go back up in price shortly, there's a lot going on in the world and in news. Just give it a chance!

NO ONE (besides crypto newssites) is reporting about Litecoin. The whole world is looking on bitcoin, and Bitcoin only. besides this there are many other alt coins with way superior technology out there. LTC is like Video2000 or Betamax. There is no need for it, it has no advantages, it has lost the battle. Get out ASAP.

You forgot to mention not well tested "superior technology".

Now we sunk to pure trolling level.

  

Testing older technologies proved they are vulnerable. Now what?


Oh, did I say a blasphemy about the almighty Bitcoin? I am sorry. So if I really think it doesn't have much upside potential, is this considered trolling? Why? Even one of Bitcoin developers sold half of his Bitcoins, because he doesn't feel confident Bitcoin will win the race due to its flaws, what other signs do you need?

Maybe Litecoin just faces some difficulties now.

While in response to OP I think "No", I do have to question what purpose Alt-Coins are going to serve in the future. With Bitcoin really entering a new phase of support by WallStreet, I can't help but wonder if Bitcoin has won the race to mainstream (even if it's not actually already there yet). Litecoin has faster block times, yes, but will that just turn out to be an academic difference in the long run? Any large companies working with Bitcoin are just muddling the message they give if they say Bitcoin AND litecoin AND (any other alt-coin).

So I'm not sure, but I'm tempted to believe this is quickly becoming a one-cryptohorse town. With wall-street money entering, the development of Bitcoin tech and services will accelerate far faster then what the alt-coin community can produce. Perhaps privacy features like Boolberry or Darkcoin might become relevant, but the initial difference between Bitcoin and Lightcoin (coincap, algo, blocktime) seems to get more irrelevant by the day. Both have ASICS now, so it's really just total number of coins and blocktime. Neither of which seems to really make much of a difference.

Who knows, maybe I'm wrong. But with so much money going into Bitcoin, and so much development, Bitcoin enters a new "initial phase" where so much more wealth can be created from simple good ideas. I think it's going to simply suck up all the smart minds out there leaving alt-coins to limp along.

Anyway, it's not dead. But, the future of alt-coins seems murky at best.

Vulnerable? Care to be more specific?

I was talking about how some of the newer more "innovative" coins have not been around enough to be claimed to have stood the test of time. There is always the possibility there is a serious flaw in the implementation.

Hence why I always say that any crypto needs to stand the test of time. Give a coin a year at least before saying the code is sound and secure.

Otherwise you are being naive to think coding is perfect from day 1 and since it has been "running good" for a short period of time that it is better than the older coins.

One man selling bitcoins means nothing.

Everyone is given a choice and that is his choice. But you are entitled to your opinion. See you at $3000+ later this year.  ;D ;D ;D

I fully agree with the need to test new code to claim it's secure enough.

Bitcoin proved itself vulnerable to centralization and monopolization, which was against its original principles. Hence it can no longer be said that Bitcoin is 'money by the people', it can be said it's 'money by the corporations'. Just look at the skyrocketing difficulty, 25% each 10 days. Little fish don't have a chance.

Litecoin is going the same route, just lagging behind. But since people start to realize the flaws of the PoW design, they begin mass exodus out of Litecoin, well, not there yet, mass exodus will begin when it dips below 0.01. They still have a hope for Bitcoin, because it's been around longer, but the design is the same, the flaws are the same, it's just delaying the inevitable and wishful thinking.

Litecoin is dead.

The big pump of November 2013 will never be repeated - the alt coin landscape has changed beyond recognition since then.

I don't understand how anyone can still be holding Litecoin other than for day trading. LTC is a reasonable day trading market due to liquidity, but it needs a 2x or 3x pump to ever get back to a semblance of its late 2013 highs and that's not going to happen ever again.

Its market cap will continue to decline. Look at the 1-day chart for doge and you'll see what's in store for Litrecoin. People kept buying in thinking "this is the bottom", bit for there to be a bottom there needs to be a future and there is no future for LTC - there's no "silver" BTC anymore, because all the top 10 coins have trickling adoption somewhere and LTC is no longer the 'obvious choice' for payment gateways.

If anyone really needs it spelled out to them, look at the 1-week MACD for LTC / BTC - the longest term chart there is on bcd. It only keeps diverging.  Overcoming that kind of long term momentum would take months of constant buying.

https://i.imgur.com/yNGTb3Z.png

Sure, it might get a pump of 10% or 20% on the way, but traders will just use that as a last gasp opportunity to offload and minimise losses.

A coin with a market capitalization of more than 200 million is certainly not dead. If people feel the coin would be dead, the price would be collapse.

Litecoin is not dead, it is more alive than most pump and dump alts. Litecoin is still rank 2nd by market capital of $265M. It is falling behind bitcoin by a long shot, but still 6x over darkcoin and 13x over doge.

I know market cap doesn't give much insight to the future and litecoin price is in a downward spiral. Their devs are still active and patching and it's trading volume per day is very strong. I see litecoin is in a bad patch at the moment. Just wait until bitcoin passes $1000 again, we will see more support for litecoin.

The price will collapse when it dips below 0.01-0.008 (its last low). Some hope remains with people that it won't, so they keep putting buy orders, but not enough of those obviously as the price chart shows.

As LiteCoin dies we will see some of that capitalization moved into Bitcoin

Were they ever alive?

There is no flaw in PoW, in fact it is the most secure option. The Litecoin fault is it doesnt offer anything interesting over Bitcoin, so why use it.

Care to make an escrowed bet to the bolded statement?

How low do you think it will dip once it goes to 0.008?

Bitcoin now represents over 94% capitalization of all the top 100 alt coins and this figure is rising all the time.

Think very carefully before you invest in alt coins

I can make an escrowed bet, but not a timed bet. I don't know when it will happen, but I can bet it will.

Not sure how low it will go when it dips below 0.008, why does it matter?

EDIT: I can make a timed bet that Litecoin will go below 0.008 this year. That is, before January 1, 2015.
1 BTC for a bet. If you accept these terms.

Anything is vulnerable to centralization and monopolization. Hardly something to use as a reason it can't survive.

"Little fish don't have a chance". <-- This statement goes back to the example:

If all of the world's money supply was evenly divided amongst each living human being it wouldn't be long before many of those with fair shares of the money supply would lose it due to bad decision making or horrible risk management.

Claiming that as an argument is like saying "boo hoo the world isn't fair so now let me go and cry about it because I was late to the game or fucked up along the way."

The world doesn't work like that. Hardly an argument for why Bitcoin will fail.

1. The bet would need to have an end date.


2. Why does it matter? Good question. You made the initial price comment about dipping to 0.008 and then continuing down ward after that. I think that it could go below 0.008 but it won't stay there for very long.

3. My terms of the bet were based on your original comment that appeared to assume that Litecoin would continue to go below 0.008 and not just spike down and pop right back up shortly thereafter.

Although there is a lot of truth in what you say, 'fairness' has been the latest craze, and most attacks on the IPO coins are based on the fact that they are somehow unfair. One example, you yourself said NXT was 'premined' (https://bitcointalk.org/index.php?topic=587007.msg7590800#msg7590800), hence you were not interested. That means you don't think NXT is fair. And now you're talking about things not being fair is ok.

I struggle to see the use case for Light coin atm, except different algo.

That said I hold LTC.

The real sleeper is Peercoin.

It's the crypto that crypto people don't get.....backbone currecny....they just don't get it, it like it 2009 and trying to explain BTC and the word FIAT currency and everyone eyes glaze over....

Even with the 1000's of alts now out there, there is not one contender that is trying to be a backbone currency except peercoin.

Thats a hint as to how much not understood it is.


back bone currency will be the new FIAT (sorta) word that people understand.

In the mean time thanks for cheap Peercoins.

Sorry but I'm not into fads or the latest craze. If you care to indulge in them have at it.

LOL don't put words in my mouth. I said it was premined and no thanks. Not that it "wasn't fair". lol

It is a personal choice not a complaint about "boo hoo I didn't get to hold the majority of coins".

There is a difference lol.

Smoothie,

I set the end date and my terms - on January 1st, 2015 Litecoin will be below 0.008. I bet 1 BTC. Ready to do an escrow.

Please, define your terms of the bet, and I'll see if I am ok with those.

So why do you care NXT was 'premined' then? (You can't premine something that cannot be mined, but we'll omit this debate for now).

Do you consider NXT unfair or not?

Hmm, I might want to spell out your terms a bit more specifically. You don't mention the exchange, and you don't mention how long Litecoin needs to be below .008. If it takes less then 1btc to move litecoin from .0079 to .008 you would lose at the cost of whatever it takes to move the price. Perhaps you should be more specific?

How long will it stay below 0.008?

I say it should stay continuously below 0.008BTC/LTC for more than 1 week continuously for you to win the bet.

Time frame would be fine with me if the time it stays below the price of 0.008 is okay with you.

Otherwise the bet is a no go for me.

Remember: I didn't claim that the price would continue below 0.008. You did. Thus that should mean the movement should be at least sustainable to merit being "right".

Escrow I suggest is Saltyspitoon for 1 BTC each.

Exchange price is from BTC-e.com

I consider it irrelevant.

I don't know enough about how it launched to consider it fair or not. But thanks for asking...even if only after trying to put words in my mouth.  ;D

Closing daily price: the 23:30 candlestick of Dec 31, 2014 at btc-e exchange.

1 week is a long time, it could spike up briefly since the market is thin and getting thinner and then go down below 0.008 again, especially since the price will be so low. That means technically you would win the bet, but Litecoin would still be dead. I don't accept staying below 0.008 for 1 week terms. Let's think of something else or this is a no go.

My terms stand. You made the claim the price would continue below 0.008. If you care to back out on that claim given my time frame of 1 week then I guess the bet is a no go and I do not believe your claims.

I'm the type of guy that likes to put my money where my mouth is. 1 week shouldn't be too long of a time frame given how the whole claim that "litecoin would still be dead" should apply.

My definition of when LTC would be dead to me is:

1. No one talks about it anymore.

2. No one is mining it anymore.

3. No one accepts it for payment anymore.

Otherwise it is still alive.

If the bet is a no go no problem.

I've made my point I think just by the terms of the bet not being accepted. If you feel that is unfair no problem. But I think you backing out on the bet purely based on my reasonable time frame of price sustenance of 1 week shows me you truly don't believe your claim.

 

The price will continue down below 0.008, I stand by that.

I never said it wouldn't have spikes up, but the general trend when it dips below 0.008 will continue to be down.

The general trend is at least a few weeks or months, not days, so it could as well be up for 1 week and then go on down.

I don't accept your terms, as they are in your favor.

I consider my terms fair enough, not to my or your advantage, take it or leave it.

I do not accept your terms either.  :D

I think I've proved my point here.

Let's now wait for LTC to "die".  ;D ;D ;D

Alright, let's wait.

I thought you were long enough around cryptos to know that price sustenance is a very illusionary thing in these markets. I am sure you do, you just thought I didn't. Well, I do know that too ;)

Neither of you had terms specific enough. You could have dumped LTC to drop it below .008 for however short a period of time, just as Smoothing could have bought one ltc at .008 before midnight on Dec 31st.

Basically, it's a silly bet.

Look at a BTC or LTC chart and you will see the price sustenance does exist. Don't make me laugh lol.

My terms were very specific. If you recall you had to remind him what he should include in his terms. Not for me though.

When I say it's illusionary, I mean it can disappear and spring out of nowhere very quickly, this market is all about rumors. Now, although I don't believe Litecoin can be resurrected by any rumors now, too late for that, the low price would ensure it wouldn't take a lot of Bitcoins to move the market briefly and even keep it artificially at that elevated level for 1 week. But the general trend would stay the same - down.

To be clear why I asked for a time frame that the price would need to hold below is because when someone says "LTC is DEAD" then they should believe it will not recover even at least for a week since it is dead right?

Oh wait now I can see the back pedaling coming into play on what "dead" really means as you did not define it while using that word.

oops  ::) ::) ::)

Ever heard of a dead-cat bounce? ;)

So does your statement "LTC is DEAD" general too and not specific?

I was using the bet to get some sort of specific commitment on where you stand. Obviously that is not the case as 1 week is too long for you to claim LTC is "dead".
lol

Yes. But that isn't what you said. lol....try harder... :-*

no ;)

LTC doesn't really offer anything too innovative compared to bitcoin. Sure it has faster block times, but that's not a big enough difference to warrant new infrastructure that's already established for btc. I also think it's sliding because one factor is that multipools now generally pay out in btc. You could be mining LTC, but they instantly get converted by the pool to get paid by btc.

Where did I say that 'LTC is dead'? The most I could say is 'it's dying, not dead yet'. Which doesn't make its future any more bright, unfortunately.

Okay guys if the price dips below 0.008 it is time to buy....because Mr. Php can't hold his position of LTC being "dead" for at least 1 week.  ;)

In terms of price you said it would still be dead should it go below a price. In only wanted to show that if it truly was dead it would stay below a price even if for just 1 week. Something you do not think will happen given your not accepting the terms of the bet I offered.

In my mind if something is dead it won't recover. Obviously that is not what you believe.

Let's see, if it goes to 0.0079, then spikes up to 0.01 for 1 week, then goes to 0.005, then spikes up to 0.007, then goes to 0.002, spikes up to 0.003. What is this? I'd say it's 'dying'. What would you call it?

I never said it's dead, I only advised the OP to get out of it. I wouldn't say it's dead, because it's not dead yet. Dying - yes, dead - no.


A short-lived spike (1 week) is not a recovery.

Multipools might actually be killing alt-coins by making it easier to profit from short term greed then to profit by investing and building something. It will be hard to overcome that type of greed. Especially with ASICS plugged in now.

This is a question I have asked myself lately. Where is litecoin even used?

While bitcoin has many merchants and is receiving big publicity, litecoin is still unheard of.

The fact that it is worth anything is just because of speculations and early adaption. All the mining power going through it has to pay off. But who keeps buying litecoins I have no idea and I wont understand why.

Litecoin is a backup to bitcoin just like you backup your wallet. As wall st. money moves in now, litecoin does have the advantage of being reasonably "clean" without major scams and silk road involvement.
We dont know the result of the auction yet but if the gov sold bitcoins really did sell way above market price it can only mean one thing: It is the beginning of tainted and untainted coins and untainted sell at a premium. Being in the gov hands "cleaned" the coins. If this is the case it would be bearish for aon stuff. I dont mind the price going up, but dont like if it is so.

I wouldn't say Litecoin is dead, but I guess it's stagnating a bit. It will probably continue to do so without many merchnats getting behind it and it will continue to lag behind bitcoin in such a fashion unless it can do so.

I think it's far from dead and is still a worthy investment. In the past LTCs value seems to have risen with btc spikes and I'm sure we'll see one again, but I echo the views of others saying they need some merchants behind it. After all, what good is a currency that you can't spend?

And shouldn't this be in alt coins?

Never said that was a recovery but it wouldn't indicate that it is dead either.

Sounds like a definition difference of what you think "dying" or "dead" means to my definition.

I still believe my terms were reasonable given your price target claims. But of course you do not accept. No problem.

Ah, whatever, you talk too much about definitions.

See what I mean when I said the market is too thin when you look at the btc-e price chart from a few hours ago? The market is too thin and can quickly move both ways on a spike, that's why it's hard to tell what it's going to be doing for the span of 7 days. A whale could move the market for a few hours in both directions and that would make my prediction a loser if I had to go for 1 week in that bet. Regardless, the trend is downwards and will continue to be downwards, that can't be changed.

I could go for a certain date, and that would be adequate risk for both of us, but you want me to take all the risk, thanks, but no thanks :)

let see...

Litecoin is second highest market in volume.

Litecoin has a still a long POW

Litecoin is well known and recognized  


yeah .. it sure is dead.




and to the silly Bitcoin only logic..  

yes, there is only gold, no other metal in the world! yes, there is only USD fiat and no other fiat in the world. Yes, there is only CocaCola and no other refreshment drink in the world. Yes there are only BMW and no other cars in the world. Yes there is only Iphone and no other phones in the world. yes, there are only dogs and no other pets in the world.

Yes, there is only Bitcoin and no other option out there!

flawless logic.



Seriously. its not that hard to see past your effort to make this post look like it was a legitimate one. people try to promote their coins why taking a shot at others should be a red flag and be ignored. They never have your best intention in their agenda

I don't want to admit that ltc is dead but the truth is it's dying.so sad.

You're a brave young man, unlike many others. Admit you were wrong and move on, that takes a lot of courage.

price going down =/= dying

The network security is still strong. Support for it is still strong.

But please if you feel the need to sell low and cheap ...well ....thank you.  ;D

i can never understand this logic

The smart money is getting out of litecoin. Run for the hills while you can

Oop up it goes

So how's this bet looking?

"Waking the dead" is very accurate here.
The Chinese decide what will happen with LTC, not BCT.

I would expect it to fall to 0.007 and then perhaps spike back up or not

Many coins with real world purposes will die but litecoin lives on  :)