Bitcoin Forum

it looks that some whale missclicked the sell button  :o

That was a huge sale...

wow that's crazy.

what's goin on with alt coins, BTC going strong everything else going down the toilet at the moment.

It's everyone cashing out their alts to buy in on BTC.  Newegg announced they're accepting Bitcoin and Newegg is one of the biggest computer hardware suppliers (esp. for gaming hardware).

But litecointalk told me it's gonna be 100$, not 2$ :'(









 ;D

$100 is not happening for long time looking at the recent market trends and LTC is missing all the BTC rallies.

panic sell all your litecoins for Quarks and NXT !!

Wow, that candle has 233K ltc bought or sold in it.

Someone just fucked up bad..

Wish I had some orders set on btc-e

Holy crap. Massive 12% drop on Coinmarketcap.com too. I thought whales were supposed to be smarter than this.

They always are, in liability markets as well as in cryptos. New bagholders will be spreading their wisdom on "silver", "arbitrage", "brother/sister currency", "gold/silver ratio" in the coming days/weeks ;) Afterall LTC is not just another alt like dogecoin or auroracoin  8) There is blood on the streets, Buffet says buy buy, go ahead !!

I'd be worried if i was a scrypt asic manufacturer or if i invested in R&D for it.

This is true.  Every coin with powerful whales has an army of shills to back them up.

poorly set stop loss bot

Btc-e allows trading on margin, perhaps some bull got a margin call and had to cover. Nothing to be afraid of, panic sell doesn't start before 0.008, which is the last time low.

Why? It's literally just another clone of Bitcoin.

Even scams like DRK try to offer something new. What does Litecoin offer? The biggest amount of bagholders?

And Auroracoin had some idea behind it, even if it was stupid.

i read about a guy who bought some litecoin

ROFL who in the right mind would buy a thing thats going down 2-3% every single day and is nothing but a shitclone of bitcoin determined to painfully die?

~CfA~

https://bitcointalk.org/index.php?topic=658541.0 ----Litecoin is officially dead

I warned you guys....I know plenty whales myself who have already Sold all their litecoin. It's only going to go down into nothingness. Litecoin is dead..

I cant spend LTC on newegg, on overstock, are any other site.

Bye bye

it's incredible,someone tried to make profits in btce MT4.

I wonder if someone pressed the nuke button
Anyways litecoin is having a rough round but I don't think its dead yet
That said got to make sure to get the bottom not grab a falling knife.

Seems like it's continuing to go down until $2,21 which seems the new low. $7,80 right now

Yeah, bitcoin going up and litceoin down.

http://tctechcrunch2011.files.wordpress.com/2014/06/bitcoin-litecoin.png

You will see litecoin really raise again in a few weeks, but then about 5-10fold. its just dropping a little prehype:

https://bitcointalk.org/index.php?topic=649739.msg7272992#msg7272992

There's a worrying trend atm. My charts tell me LTC will drop another 30% this week! I'm usually right about these kind of things

right, it will bottom at 0.008 BTC like last time. and then later raise to 0.05 in a month.

No way, there is nothing about litecoin that's interesting, its going down the drain. All bagholders are just trying to hype it. Yesterday it was at $8.80 and the bagholders on the litecoin subreddit were yelling: NOW IS THE BEST TIME TO BUY, IT WILL NEVER SEE $8.80 AGAIN!! Just like it wouldn't see $9, $10, $11, $12, $13, $14, oh and $15 was rock bottom, it's now at $7.80. Litecoin is going down, better to get out now.

i only have 10 or something because I am highly diversified, so I don't care.
But you will see ;-)

I don't think it will ever rise again big time. It might make some small steps up, but then again go down even more over time. LTC lost around $40M marketcap in the last two (?) days. The only ppl trying to fight against the obvious are the guys over at ltctalk. while I can understand them (and I would most likely do the same if I were a bagholder), even some mods over there seem to lose confidence.

I just stumbled across a topic from late dec. last year, and while I really feel sorry for the OP, it shows that most of them do not want to realise how bad LTC is performing since last year.

https://litecointalk.org/index.php?topic=11136.0

Ok, if you bought in at a few cents it's easy to keep calm, but those poor guys who got sucked into that bubble are paying with hard money. I think my favourite part in that thread was "tell your friends and family to buy LTC..." hell, they would beat the shit out of me right now! but maybe I'm wrong and it's really just the calm before the storm and LTC will explode to $100. while I really doubt that, I kinda wish that it happens. not for the majority of the ltc holders, but for guys like the OP of the mentioned topic.

you are looking only short term guy... it will raise with btc like silver with gold.

Can't say I didn't warn them: https://litecointalk.org/index.php?topic=16962.0

They all ignored me, laughed at me, or told me I was wrong.

whoever still really believes in that (even that the charts are clearly telling otherwise), has learned nothing in the last months. and please, stop with that gold/silver crap. physical gold/silver is about purchasing power in really bad times (which hopefully never happen). I don't think you would be able to buy bread with LTC (or any other crypto) in WW3 :P

what are months? nothing...

Some people still hold Litecoin despite all the warnings over 6 months ?

I guess some people just want to lose money.

if someone holds ltc for 6 months, he should'nt sell it now... he should have done 6 months ago and buy new ones now or better next week

In crypto land months are years, and in the past few months development efforts have accelerated, this snowball cannot be stopped, it's not enough already to be just a simple coin. Bitcoin can get away with that for a while, maybe a couple of years, but its end is not far away. Litecoin won't survive one year.

I sold my last Litecoin about 6 months ago like every sane person.

You can still do it now and invest in new innovative cryptocurrencies.

You did good. I was more stupid and only sold it in March, had a hope it would recover but finally saw the writing on the wall.

Of course innovatives will probably go higher.
But LTC will come back, you will see ;-)

ASICS killing the scrypt market off which why a lot of coins switching to diff Algos or going complete POS. ASIC miners trying to frantically dump out as fast as possible to ROI.

I don't mean to derail the litecoin bashing, but can someone explain the chart in the op? How does the market drop that low and then recover nearly instantly? I've never had a very strong understanding of trading. Thanks

Bagholder alert:

lordoliver

There were few buy orders, and someone sold too many Litecoins within a span of a few minutes. Of course the market recovered but not to the point where it was before the massive dump, it's like a big crack in the shield.

guys... are you serious? if you have a hardware only for scrypt-coins, do you think they will throw it all away then, if the price drops a little?
it will probably be used... and thats why the price only can go higher.
As the bitcoin asics came out, litecoin would go up heavily. It didn't.
Litecoin is not existing only because of gpu-mining but as the first alternative to bitcoin.

That is nothing but an entitled childish argument: We were FIRST, so we DESERVE to have a place.

ok, i have exactly 15.11077235 LTC. If you want to call that a bagholder. OK ;-)

I am just refering to that one:
https://bitcointalk.org/index.php?topic=649739.msg7272992#msg7272992

its behaving like all other ordinary Altcoins. Worldcoin, namecoin, usw...

Someone saw a buying opportunity and bought it all up.

It was well played IMO- they could slowly sell it off not affecting the market too badly and pretty much have an instant profit. I'm not sure this is their strategy as they could be hodling for a rebound, but someone(s) saw a buying opportunity for one of those two reasons. I think it's anyone's guess as to what the reason was.

Whomever sold off that much at once on one exchange didn't really think it through very well.

The more i think about it I can see how it works. I was thinking it would have to stay that low and slowly rise back up rather than instantly. Thank you

no, its not because of first, but because of the good distribution. there are already a lot of shops out there using it...

Lordoliver,

it's a misconception that more ASICs/GPUs/miners/hashrate affect the price to the upside. At most, they are neutral, but all signs are pointing that they are negative for the price.

Here is my explanation on this:
https://bitcointalk.org/index.php?topic=662058.msg7468164#msg7468164

no, I didn't want to say, that the asic make the price better, but more stable.
It will go up there were it was, thats what I ment. Asic is just running not switch all the time to other coins.

Clearly this was an attempt by a certain person to win a "moral" bet with another person that LTC would dip under $2.

Clearly this attempt failed. Well, better luck next time.

Clearly that statement is a guess.  :D

Well maybe his bet was under $3 and he succeeded  :P

Only dumb people would do that.

I was just teasing on the bet that never happened between Darkota and Smoothie (in the LTC Critique thread that you have). That's all.  ;D

Admittedly, looking at the right-hand trend, this really does look like a "fat-finger" error because of the pair mismatches between BTC/LTC and LTC/USD on btc-e.

Smart people wait till it hits 0.008 :D

WE cannot say tha LTC is dead , but really the coins is going slowly down and dipping into nowhere. In my opinion there will be a lot of better coins out there with the time, which will make litecoin not so interesting for the newcomers to the board. May be it will not die, but shrink a little.

Figures you were joking  ;D

Found it. Admittedly, the stipulation was that it'd have to be sub $2 for 48 hours.

https://bitcointalk.org/index.php?topic=662058.msg7501331#msg7501331 (https://bitcointalk.org/index.php?topic=662058.msg7501331#msg7501331)

Popcorn?

[On an aside: The more I think about it, the more I wonder if this was intentional...The pair mismatch really was drastic after all.]

I think this time it will be different, last time max keiser pumped it with his $50 tweet

This^, They probably caused a Minor panic buy and tripled their money, then sold again cause Litecoin dropped A Lot more now.

Congrats to that smart whale who bought, and sold just as quickly.

someone know litecoin official thread?

man i remember when LTC was $45. ahh the good ol' days.

I wish I bought litecoin at this price and then sold it at 45 dollars
But that was back during the Bitcoin rally as well I feel bad for the people who bought at that price and yep that definitely is life.

 
I don't understand why Litecoin holders let Litecoin die.
They didn't change the algo when it was time.
Litecoin is the most useless of all atlcoins because all altcoin are based on Litecoin but most of altcoin try hard to innovate.
It is an ultra competitive market, they had the first mover advantage and the funds but they didn't add any feature since Litecoin launched.
How can you be so spoiled and lazy ?
Now they lost over 90% of their investment. Good job.

hows that innovation meme working out for ya?

Great thanks, and you ? How's innovation ?

https://bitcointalk.org/index.php?topic=47417.0

it was just the time for it. Now will be the time for raising. just look on it last year. it was the same...
Litecoin will come back... at least this time.

I disagree. The dynamics are different this time around, as there didn't use to be any decent alternatives to Litecoin.. there was only clones of Litecoin that changed block speed or currency supply for the most part, most of these clones died because of the lack of innovation. There are many cryptocurrencies that have much faster block times, which is basically the only thing that was good about Litecoin. The main problem I see is that there are many cryptocurrencies with new and/or improved features as compared to Litecoin. There is not much of a reason to speculate in Litecoin other than thinking it is "too big to fail", but I think this line of thinking is flawed. Litecoin got popular as it was a safe haven for GPU miners that got kicked off the Bitcoin chain by ASICs. Now GPUs have also been kicked off of the Litecoin chain that appeal is lost.

There are many large companies that fail due to not being able to understand their original formula is not working and not adapting their game plan to compete against more innovative competition. Take Sears for example.. They failed to see the way malls and retailers were losing business to online commerce and failed to adapt quick enough. They were once a giant that got started as a mail order catalog and failed to adapt their one time successful strategy to compete with other companies.

There are some companies that never change their product or business strategy and remain wildly successful, but these companies generally either have a proprietary formula or recipe, or have a patent. With Litecoin being open source, it doesn't have either of those benefits going for it.

yes and now hit again, but we will not see instant recovery to 8 usd

http://s13.postimg.org/tsp5qjadz/hit_221.png

lol this time it has parked the bus around 2.21 buying at 0.22