Bitcoin Forum

Litecoin is pretty much dead.

What are the chances of bitcoin becoming just like litecoin?

actually ltc is performing better than btc at the moment.  if btc was keeping up with ltc it would be at $550 instead of $508. 

Unlikely to happen as people have invested hundred of millions into the whole ecology system.

Bitcoin has more than a dozen big exchanges all around the world and two payment processing companies to support the payment system.

The mining network alone has more than 4-5 big ASIC producers and horde of miners to support the network security.

California already legalize its usage. New York is making rules to regulate it.

None of the other coin share the same kind of support and has as large support base as bitcoin has.

like I said, ltc is performing better because ltc market is very illiquid.

and yea, I think ltc is pretty much dead.

No, the infrastructure is much better and Bitcoin still has the biggest exposure. It is the digital/crypto-currency and therefore will prevail. I think it is highly unlikely that Bitcoin goes bust and another coin will "survive". If the crypto game goes well, Bitcoin will stay afloat, too!

I don't think it will, Bitcoin is like the main of crypto and litecoin is just one of the alt-coins..

The two aren't comparable. Bitcoin has earned its success through innovation, fundamentals, infrastructure all that. Litecoin has none of that and was just the 'me too, me too' coin riding Bitcoins coattails.  Litecoin always was a ripoff shitcoin that had zero innovation. It got the attention it did because of good marketing 'silver to bitcoins gold' and timing in particular with the last bubble. I personally hope it dies the death it deserves as people flock to truly innovative altcoin whatever that might be.

It was merely an experiment. It tackled two of the main things criticized when it comes to Bitcoin: PoW algorithm and confirmation time. As it become apparent, that those two things aren't that big a point of failure as though (and Scrypt ASICs are also emerging) it became less unique. And if we really should opt for another currency, we might go for another altcoins to begin with!

wow awesome calculation, from where you got those numbers? this mean that bitcoin is falling more than litecoin, it makes sense because litecoin is only falling(in a serious way) since the asic entrance, which is this year

BTC jumps from .1 to $30 to $2.. did it die?

That is all.

Exactly, LTC is garbage.

Cryptocurrency is still very much at its infancy. In fact some may even see it still at its conception stage, with Bitcoin being the proof of concept that the idea of cryptocurrency can work. But if the concept of cryptocurrency can work and gets accepted, Bitcoin will still be the at the forefront for the very simple fact that all other altcoins are based on Bitcoin in terms of value. Bitcoin IS the concept of cryptocurrency in itself, so if Bitcoin dies, so will all other altcoins and the whole idea of cryptocurrency.

I think the chances of Bitcoin dying exist, but grow smaller with each passing day of improving infrastructure and vested interest.

This is only true if the reason Bitcoin dies being because of a reason that is applicable to all of the CryptoCoins. The main force here would be Government opposition.

However, it's not inconceivable to imagine a scenario where Bitcoin fails due to another coin winning over the market due to some feature that Bitcoin just does not have.

There is nothing that other coins can have that can't be implemented unto Bitcoin if the developers see it fit enough to do so.

I believe both coins will survive and coexist. sure btc has more infrastructure and will always be the original, but if I had to bet on which coin will double in value first I put my money on LTC. I believe many investors / speculators are counting on the same. using LTC as a hedge against Bitcoin is a nice option to have and smart day traders take advantage of that.  now NMC and PPC aren't looking too good.

I disagree, the Bitcoin core development team are careful, their product is responsible for billions of dollars in wealth. They are not going to implement features to compete with other coins in a timely manner.

To show an analogy, see Silicon valley and its startup culture. Quite often smaller, more nimble companies are able to fight and sometimes even ruin much larger, much better resourced companies.

I actually see Litecoin dying, Bitcoin is a first mover and thus will not die and 2nd, 3rd place are up for grabs for anyone with real innovation.

Litecoin developers have make it clear that they will not make any changes to the code or add any features. There will always be strong believer no matter what price LTC is but shrinking market cap speaks louder than words.

Actually, come to think of it, developers aren't really relevant at all. What made Bitcoin the only one there is is because of its first mover advantage. That's just how deflationary products work, the earlier you are, the more valuable you become.

I urge caution here, Bitcoin is the first example of a real world deflationary product and it could/will face competition.

Remember that Bitcoin is two things, a store of wealth and a decentralised digital cash transfer network, if a much better system emerges that makes that storage safer, more private and also makes the transaction network more usable, you might find the first mover advantage is not enough.

Also the developers do matter, if the entire core team and Satoshi tomorrow said they are releasing Applecoin and dropping Bitcoin for various explained reasons, the market may react and follow.

Litecoin is rebounding hard off of it's lows. It's also extremely liquid in the Chinese markets. I wouldn't say it's dead just yet and it will probably triple as bitcoin rises 50% in the near term. From there, who knows. Big money is on bitcoin but I'll hedge / lever up taking the LTC wager at this value.

LTC 100$ - soonish! :D When that 1 week Macd is about to turn greenish all hell will break loose.

In which case, should another altcoin have such better features as to render Bitcoin useless, people would still be able to convert their Bitcoins to the equivalent of the newer better altcoin because, as I understand, in the world of cryptos, the one with the first mover advantage has to be the one with the highest value very simply because cryptocurrencies are conceived to be deflationary in nature, to battle the inflationary nature of fiat money. The only way some other altcoin can overtake Bitcoin in value is that if that coin in inflationary meaning it has no limit as to its production (in which case, why bother with cryptocurrency anyway when there's already fiat) and every single person switched to that coin instead.

Litecoin will have its place alongside all the other altcoins. It's just the matter of shifting your perceptions. Some people tweak their Ferraris. Some tweak their BMWs. Some tweak their Hyundais. You play with what you can afford and it's all good, really.

but if government oppose to bitcoin, then any coin can't stand a chance, they will follow the same fate

Litecoin isn't dead like someone said, I'm expecting a slow but steady recover in the next months.

Litecoin will end up just like bitcoin.

1 Bitcoin will be worth 0.01 LTC

Will bitcoin end up just like litecoin?


no, bitcoin has a big future. something like http://www.naturalnews.com/gallery/300x250/Money/Bitcoin-Value-Crash.jpg

oh wait, not, i upload another picture by mistake, sorry

Bitcoin will not end up like litecoin, why? Because bitcoin is the main thing about crypto. I see many merchant accept bitcoin but not litecoin.

Cryptocurrencies aren't just a "fad", they can really do something. Bitcoin is only growing from my view...

First, we need more people declaring it dead. Buy when others are fearful. It seems we are on our way just fine.

I wouldn't be surprised if LTC shot up to $30 or so actually. It just needs a little more interest, then boom.

Silver didn't crash after 3 years, did it?

BTC wont end up just like LTC wont end up.

In time u will see wasn't the something similar last year and then boom

Wow you sound pretty butthurt. People like you were spewing the same BS back in 2011 when LTC launched, then 2012, and then 2013...

Now we are in 2014...no difference. lol ::)

Darkcoin, the next one that would probably shoot up to $30. :)

Darkcoin just dropped close to 10% again today. The coin is a goner.

Found this post of yours from March 2013, you were almost spot on with the price, it just happened a year earlier than expected, not bad. So where do you eyxpect the next top 100-200$?  :D

Litecoin is a goner too, all the manufacturer mining it and dumping it on market.

Agree. But your conclusion should be opposite. Fixed it.

All alts have very little value and offer more or less nothing new in terms of features or security or privacy that bitcoin cannot already offer. We will likely see several speculative bubbles in many altcoins but they will all eventually fail.

Butthurt? No I’m not butthurt for evaluating litecoin when it first appears and simply putting more money into bitcoin. I was one of those people in 2011, then 2012, and then 2013... and now here in 2014. It has zero innovation, that can't be argued. Litecoin made some people good money, in some cases huge money, maybe it will make more people even more money. Good for them, they saw that opportunity from the marketing. Even I thought it was great marketing and could lead to a ‘me too’ coat tails chase. But the lack of innovation, the carbon copying of bitcoin, killed any interest on my part. The fundamentals were never there and still aren’t.

I have a keen interest in the innovative alts, but I don't like seeing garbage succeed.

I really don't see bitcoin ending up like litecoin, and you have pre-determined an outcome that is not yet here--ie death of litecoin.

Dumb comparasion because Bitcoin is the king and Litecoin is a poor mans Bitcoin.

Litecoin is, from a technical point of view, better than Bitcoin. Faster transaction confirmation for example. But how cryptocurrencies work is the one with the first mover advantage will always be most valuable, because that's just how cryptocurrencies work. When you mine any coin for that matter, it's always easier and more to mine early than it is late

Litecoin potentially has a short cover rally coming due to all the short interest.  

That's the only thing it has going for it.

Gramps used to say, don't try catching a falling knife.

https://i.imgur.com/OcsfuFc.jpg

hmmm, litecoinnn is just like a second coinnn of cryptocoinnn...
it's just a balancerrr.... in one side there is a man and the other side there is a womannnn...
so just like that.... :)

hehehehe

no, correct comparison would be - one side there is a man and the other side there's a piece of gum stuck to his shoe.

thats where you went wrong. youre talking a few months ago, im talking today. what would you rather have - 100,000 ltc and ltc goes to $6 or 1000 btc and btc goes to $520 if youre lucky?

Imagine living at the end of the 19th century:
"Horses are the mode of transportation, and therefore will prevail. Just ignore those fancy automobiles! They can't challenge horses as a means of transportation!"

I thought the main function of Litecoin was to extend the mining feasibility of GPU miners after the advent on FPGAs and ASICs for SHA-256 hashing.

With the advent of Scrypt ASICs, that advantage has been lost. The torch has been passed to multi-crypto-algorithm coins.

Only if you are stupid

Bitcoin has market acceptance that Litecoin has not.

So it just won't happen

People no longer accept litecoin, they accept darkcoin instead.

Litecoin has become a pure commodity play.  A trading toy for daytraders to see how much profit they can extract from other other.  Its value is swinging so violently now that I can't see any merchant glancing in litecoin's direction and thinking 'hmm, I think I'll price goods in something that changes value by 20% almost daily'.

At least there are businesses that take bitcoin payments.  Litecoin only business are basically non existent.

No Can't do. Bitcoin is the to go crypto reference, it will never, never die. Universe will explode with BTC cool and alive.

I wouldn't go so far to call the developers irrelevant. We once had almost 92 Bn BTC. If developers are lax, such things can happen.  ;D

That time someone hacked 92 billion BTC into existence

On 8th August 2010 bitcoin developer Jeff Garzik wrote what could be mildly described as the biggest understatement since Apollo 13 told Houston: “We’ve had a problem here.”

“The ‘value out’ in this block is quite strange,” he wrote on bitcointalk.org, referring to a block that had somehow contained 92 billion BTC, which is precisely 91,979,000,000 more bitcoin than is ever supposed to exist.

CVE-2010-5139 (CVE meaning ‘common vulnerability and exposures’) was frighteningly simple and exploited to the point of farce by an unknown attacker. In technical language, the bug is known as a number overflow error.

Because people always like charts. Moar chartzzz

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

You have an example on who accept litecoin and then later replace it with darkcoin?

Not that the answer is important, but both coins are going to disappear not too distance into the future.

Bitcoin is too big to fail! I think I've heard that before somewhere.

Litecoin was a fork from Bitcoin that offered nothing, I reckon most of the interest was thanks to the google guy being involved. If it was a random dev, no one woulda given a fuck about Litecoin in the first place. Coin is doomed I think.

thank you for correct comparison,.. :)
my grammar is not good...
XD
but i want to learn english to get BTCBTCBTCBTCBTC :D
hahaha

no way, litecoin, was not even the second one, just a pure clone, with a good name i must admit, those two combinations let it go far

There are some businesses that are starting to accept LTC, but they are very few. LTC is also much less secure then BTC is as it's network hashrate is much lower.

I do agree with you that LTC (like all other alts) are nothing more then a speculative play for traders as they add nothing of value that bitcoin does not provide.

Fast confirmation time is not necessarily a good thing. It means there is likely a much higher orphan rate and is much easier to mine enough blocks to make your chain longer then the longest chain accepted by the network. This essentially means that an unconfirmed TX with BTC is more secure then a 1 confirm TX with LTC. 

actually, automobiles where the new mode of transportation and horses the old.

you are defending the dollar (old) versus bitcoin (new)

which one do you think will win, the old, or the new?

Litcoin was designated to lose worth fast. Bitcoin have much more future left before that happens.

Got in and back out of LTC in 2013 when there was some serious BTC to be made. LTC may stick around however I would not hold a large percentage of crypto in there right now.

There is room for one major player for each algorithm - so LTC and BTC should be fine.

Both can, of course, be replaced by something else but that is not very likely because there is major worldwide hashing hardware out there, for scrypt and sha256 but not for any of the other algos.

No1 threat to LTC was DOGE but now, DOGE is inflationary and LTC is not...

LTC died because of ASIC, there's nothing truly differentiates between LTC & BTC

BTC's got the first mover advantage.  Don't see it being replaced by altcoins or the current so-call 2nd gen crypto at the moment.

I agree that LTC offers little innovation however they are an established brand deeply entrenched in the history of crypto and will destroy its alltime high when the bull regains traction.  

There is a reason why so many traders prefer LTC. The volume is still incredible on virtually every exchange and the least risk of any altcoin.

LTC will go past $100 next bubble easily despite the advent of asics.

Death of LTC not gonna happen.

No, Litecoin just hasn't anything vastly superior to offer. Bitcoin just has the most exposure and traction in the general public. Litecoin just suffered from everyone going back to the real cryptocurrency - Bitcoin!

This (and $100 could be very conservative, depending on how far Bitcoin will go).