Bitcoin Forum

Why

ASICs,

(1 word game)

Why can't I sell garbage for the price of gold? Why

If bitcoin goes to $10 000 or $100 000  , litecoin could easily reach $500 - $2500

Not enough room for lite and crypto note and smartcoin all together .  So no.  Fail.

4 times more coins + most people preffer Bitcoin.
But in future Litecoin might reach 500 usd if you mean this

I can see 500 if we get super lucky as well, that is if bitcoin hits the highs many are betting on, and to touch on the asics coming online, I think there is just a market saturation of freshly mined coins right now, once we get past that and definitely when the block reward halves, hopefully we see a nice price increase! ;)

Too many innovative coins are coming out, because of this Litecoin will never reach bitcoin price. Investors now a days are looking for a coin with great features.

Why, because btc has an anon dev thats always going to be shaky with real world investors, ltc is faster smoother for everyday use (come on you've actually used them both for transactions haven't you  :-X ), and even has a stable mac client (sorry but a good stab of the world does use apple),................oh wait sorry I'm argue the wrong way...ok here goes...

wait...... ???

lol innovations  :D someones a sucker to the 101 con jobs on here  :-*

Network effect, infrastructure, merchant adoption, development (those apply to all coins versus Bitcoin)

That... and it's a copy and paste coin

Based on your profile image did you used to be a big fan of LTC but are not anymore?

investments are too wide-spread by the launch of new coins everyday. Keep the numbers of coins around 20 and you won't see the same low price for every coins out there. The biggest problem of open source is not that anyone can copy it, is non-thinking investors sending money to the first ''dev'' saying they can make a quick buck or making them think so.

Put that aside and maybe litecoin can reach the bitcoin price but i'm not sure any other coins can do that in the near future.

sorry but form a real world perspective I don't see anything but something based on bitcoin, but with improvements (eg simplified, capable of mass adoption.

btw not saying it'd necessarily be litecoin (and don't get me wrong i'm not exactly a ltc fanboi, i say the only thing actually good to come out of cryptos so far is; the idea).

The idea of crypto is good but what the CC world lack is the infrastructure to help less tech-savy people get in. If you don't know how to work with a computer or only have basic knowledge, you won't be able to deal with the technical side of crypto which might stop a lot of people from using it.

You want the price to rise? Find a way for more people to be able to use it without too much problems. Make it more ''user-friendly''.

Grad engineering students may get a hard-on for some of these Gen 2.0 platforms...
But if you can't explain it to your aunt or neighbor in 60 seconds it's not going anywhere.

The more I think about NXT... the more ridiculous it seems...
35% of NXT tx fees are collected by 5 accounts...
So you have this TOTALLY CENTRALIZED group floating complex decentralized alpha products.

NXT is like a Glory Hole blowjob by a random 3rd World ho while wearing 3 rubbers.
What fun... but grad engineers fantasize about this kind of special kink.

Or you have Jeb-Serial-Scammer floating a Ripple clone... zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz.

Security and dead simple is everything...
And that means BTC, LTC, and a handful of new, secure, dead simple crypto.

Good guess. :)

We can't change avatars since forever

If you want the truth, it's because the name sucks.  :P

How exactly is Litecoin more simplified than Bitcoin? It is pretty much the same thing with quicker block times and more money supply. The algorithm is different, but that doesn't have anything to do with it being simpler.

Also, I don't see how it is any more capable of mass adoption than Bitcoin is.


Not specifically directed at you, just ranting:

People complain about cryptos having extra features, but I think it is silly. I have a solution for those people: don't use them. It will attract some users that do want to use them though, and therefore it helps with adoption.

simplified was probably the wrong word to use, i more meant from using both for real world trans ltc is slightly smoother, still personally don't see it as smooth enough for mass adoption.

extra features point, none of those extra "features" are attracting anyone new from outside this very small niche community.

Hey, you wanna know why none of your points make sense? Bitpay.

First off, Litecoin's "slightly smoother" blocktime time of 2.5minutes is Put To Shame by hundreds of altcoins with 20 second and below blocktimes, like Fastcoin etc etc.

Second off, Bitpay requires 0 confirmations for Bitcoin, so you don't have to wait 10minutes like you used to, again, making Litecoin's only "feature" of having a 2.5minute blocktime, irrelevant.

In those respects, along with the fact that Litecoin is a bitcoin clone that offers absolutely nothing, makes Litecoin Useless. The only reason it's "still standing" is because past people have put in some infrastructure into it, but as you can see, it's been on a price decline since November, and has Not followed Bitcoin's in it's price increases etc, which means Litecoin is on its own, it's not the silver to anything, it's worthless.

I won't argue against your other statement, but I'd like to talk about this one.

I've heard a lot of Bitcoin/Litecoin people say that, but I'm not sure all of them realize it is just their opinion. It is not based off of any scientific evidence or research.. people just kind of throw this claim out there as if it's true and we are all supposed to believe it. Let me give you a few examples of why my opinion is different.

Asset issuance (many alt coins) - Can bring in businessmen looking to start companies that wouldn't otherwise be able to due to onerous government fees and application processes (SEC)

Crowdfunding (swarm coin, counterparty, etcetra) - Can bring in inventors, artists, game developers, etcetra, that don't want to pay the high fees that websites such as kickstarter and indiegogo charge.

Market pegged assets (bitsharesx) - Can bring in commodity traders looking for a cheaper alternative to existing markets; People that like the ideology of crypto currencies but don't like the (sometimes) massive price fluctuations and uncertainties

Decentralized DNSs (namecoin, etcetra) - Can bring in human rights supporters & internet freedom supporters

Decentralized gambling (lottoshares, etcetra) - Can bring in people that like to gamble but have been too worried to play on centralized websites that can tweak the odds even more in their favor than advertised & no worries about the website stealing your money

Decentralized market places (Nxt, etcetra) - Can bring in people that are tired of getting raped in fees by Ebay & Scampal, deep web market places, etcetra

Decentralized IDs (keyhotee, etcetra) - People that want to secure their financial and personal information, and be able to sign into website with a click of a button instead of entering a user name and password.

I could go on and on... and I'm not even mentioning all the different crowds the above features might bring in. They might not be coming in droves at the moment, but these technologies are new and not very well known right now. Once they are improved upon and more widely known, they very well could catch on due to the numerous advantages that decentralization and block chain technology bring.

https://bitcointalk.org/index.php?topic=760871.0

why it can cross Bitcoin.

Are you kidding ?

It depends on its value and many factors can effect its value. Like many new coins, the person who put forward a new coin makes all efforts to certify its value, however, its value still is restricted by many factors. It is the floating market of cryptocurrencies. The price of Bitcoin has experienced a lot of floasting, however, as more and more countries accept it, it can not be ignored any more, so its value is commitment to its market popularity now. I don't think it is meaningful to compare Litecoin and Bitcoin.      

Clone can not compete with genuine innovation.

or simply such people have actually examined the bitcoin code and its pre development history to know pretty much all these supposed new innovations aren't so original  :o

Very true and I agree with this statement, however it can be used both ways. What happens when bitpay or some other 3rd party comes along and accepts litecoin? Then the 10 minute and 2.5 minute wait are equal and if that happens whats to stop litecoin from over taking Bitcoin? Essentially they do the same thing and by using a 3rd party many of the 'features' are put on the same level. This would be true of any coin, not just BTC vs LTC.

The protocol of these coins is just the beginning, things will really start to come alive when we get more 3rd parties involved. I think whatever coins are picked up there first will be the ones that really take off. So far its Bitcoin but Litecoin also has a payment processor, GoCoin.com so that puts it one step ahead of 400+ other alts - for now anyway.

While this may be true I dont think its worth much. The original quote says these features do not bring anyone new in and only the people already in the community care and/or buyin to these coins and I tend to agree. Even someone like me who is an active member of the community did not know the details of some of those coins you listed above. If I dont know about them, how is the general public going to know and be able to pick the best for their needs? (Dont take that as 'I know everything about crypto' because I defiantly do not!) Point is there are too many options for a general person to pick from. Chevy, Dodge, Ford - Pepsi, Coke - Dell, HP, Gateway (are they even around anymore) - people like options but they are not going to read the specs of 400 coins to pick exactly whats best for them, they will pick one of the top 5 and deal with it even if there is a 'better' option available.

Because people aren't willing to pay the same for Litecoin as they are for Bitcoin. Bitcoin is king. Can't see that changing anytime soon, not unless something significantly better comes along.

uh? there are asic for bitcoin too

litecoin is just a clone, not even the first one, that's why

Because its a shitty clone that contributes nothing new.

 :D

Some are still hoping for prices similar to Bitcoin. This one is useless and it is surprising it is even holding up. It will die a slow death.

If litecoin survives long enough it could reach that price range.

Confidence and desirability are low.

Thats it.

In this world, fast fish eat slow fish.

Litecoin is nothing but a similar clone to bitcoin. "Asic resistance" was the only reason for its existence a year ago, that is no longer true now.

One of the biggest reasons why it cant is just because of the demand and lack of merchant adoption. If it had a lot of merchants getting behind it it would do a lot better. At the moment its kinda redundant.

Because BTC is the reference coin and will remain like this for life. No other coin will take BTC's crown, this isnt a myspace->facebook situation sort of thing, forget about that, thats just having no clue about what we are dealing with on there.

There is no merchant adoption because LTC team didn't bother to reach out to merchant.

They can simply implement and create another bitpay or coinbase clone for LTC, that alone should increase merchant adoption.

Before any technical or social considerations are taken in to account, you need to simply look at the currency supply (http://bitmark.co/charts/coinsupply).

If Litecoin were to have a price-tag of $500, then $14,400,000 of new currency would be produced each day, $5.25bn a year.

This would entail a daily trading volume of roughly $76million per day (or higher), and a market cap well above $10billion - immediately, and increasing every day after.

If the price-tag you mention were to happen then both adoption and market cap would have to be at least twice that of bitcoin, growing to 4x over ~20 years. To even begin such a process would require a 10,000% rise in both production-cost and price-tag.

It would also require roughly 75 Terrahash minimum to secure, over 75x more scrypt hashing power than currently exists in the world, that's if all of it was on litecoin only.

The coin supply has written in stone that Litecoin requires 400% more growth in every aspect (adoption, investment, hardware production, mining) day on day than bitcoin to maintain an equivalent price-tag, this has not been the case and thus it requires a 10000% leap to get on par, then 400% day on day thereafter.

That's a big ask of any currency. Perhaps infeasible.

AdamSmith (famous economist!) is on the right tracks, be fair, look at what you can do to increase or encourage adoption and usage, that is the only metric which improves anything.

The more supportive of Bitcoin/Litecoin someone is, the more supportive of that statement they tend to be. It doesn't change the fact it is an opinion. I have a different opinion, and I know I am not alone.. I am just more vocal than most people.


Exactly, this was my main point at the end. The features may not be bringing in a ton of people right now, but I am sure they are bringing in some people. Once these services and their benefits are more widely known, advertised, and improved upon, I am speculating that they will bring in a lot of people to crypto currencies that otherwise wouldn't have partaken. The crypto currencies that have these features will be the ones that benefit most from this. The ones with the most popular features will win out over those with more "gimmicky" features. On top of that there will be another level of the crypto currencies with the most well implemented of those most popular features will win out over those with the most poorly implemented of the popular features.

You guys are entitled to your opinion and this is mine. I get annoyed that most people don't acknowledge that what they say is speculation and opinion when talking about this stuff... the Satoshi Nakamoto Institute guys are the worst example of this with their articles about alt coins and appcoins which are one side of the debate passed off as fact. No one is doing a good job at debating for the other side when it comes to the issue of adding features on top of a crypto currency and being innovative... I am pretty much only one of the few sticking up for this side. That is because I believe my opinion is correct, probably just as much as you guys believe your own opinions are correct. I think most people are probably just tired of debating this issue with Bitcoin/Litecoin supporters, because it is a never ending debate.


This line of thinking assumes that the top 5 coins will always be the same- I very much disagree. Bitcoin and Litecoin are not "too big to fail"- no entity is and no entity ever will be. Once consumers are more educated about which options are available, they will pick the better option IMO. This just has to do with marketing, liquidity, infrastructure, the network effect, and consumer awareness as to why they aren't already picking the better options. These dynamics are just that- dynamic. They can and will change in the future. Sure, it is confined to a niche group at this point in time, but it will not always be that way as cryptos expand their user base and more people are educated on what else is out there. Admittedly it is hard to tell what alternative coin will rise above the pack, but over time it will become more clear and I am 99% certain that crypto currency will not be Litecoin.

Two different opinions, innovation drives adoption vs adoption driving innovation. Both can be true at the same time, and both are beneficial :)


Each person considers different things as 'better', ease of use and simplicity are often the biggest drivers, google with one box and one button, and apple within minimal ui are fair examples.

Nice to see an interesting discussion.

Perhaps people need to ask themselves why Litecoin rose in price in the first place.

In the bitcoin mining GPU days everyone was happily mining Bitcoin, Litecoin had but a few adopters. Then along came the Bitcoin asics. Suddenly GPUs were redundant, miners simply found another coin to point their GPU power at, which happened to be Litecoin.
I for one did the same. But I wasn't interested in Litecoin. The whole point was to continue the fun of GPU mining and dump the coins for Bitcoin which is what I wanted. I suspect many other miners were doing the same.

Now of course there are countless other coins to point GPUs at, so Litecoin isn't really needed all that much anymore, at least for me anyway, can't say about others.

But now there are ASIC miners which need homes, Litecoin is one current home for many of them.

The fact is that Litecoin's price-tag MUST rise as production increases, otherwise production has to slow which means a percentage of current and new scrypt mining has to migrate to different currencies, increasing their production cost and price-tag instead.

The only way for both production cost and price tag to continue rising is by increase in adoption, which takes lots of hard work and effort.

There was less choice in those days. That's why all the GPU power was concentrated at Litecoin. It was a totally different crypto world back then.

Because hitler didn't/couldn't conquer the world despite of his power and willingness,instead he committed suicide,

It's not that it can't, it's that it hasn't. Seriously it's all about what people value it at.

Bitcoin the first crypto and litecoin is like the 5th?

I dont think it can because it is bitcoin that has a slight mining variation + bitcoin has less coins.  Its pretty simple really it would take a whole new coin with huge improvements to out compete bitcoin.

As much as i like to see that day come, BTC and LTC are competing currencies that offer almost the same feature
LTC needs to hit critical mass/adoption like BTC for that to happen... but how?