Bitcoin Forum

I was successful at day trading but recently aborted that in order to adopt litecoin. I though of it as a hedge, the reasoning was that i feel the BTC/LTC ratio will only get smaller, and therefore i reduce my risk by putting my money in litecoin. It worked to, my losses on bit coin were compensated by the rise in litecoin. currently I don't day trade litecoin cause I'm afraid ill be out when it goes into gox, but i might reconsider my position due to recent events. anyways IMO this is the safest and most logical course of action. Just wanted to know if anyone else here agrees

Agree, for the time being.  Long run I think many alt coins will face their fate.

Good luck with that.

I strongly recommend staying away from LTC TRC FTC and all other crypto

they are not a hedge for bitcoin, its just an even more spelcuative invesment, bitcoin need to succeed in order for these knockoffs to survive, a hedge for bitcoin would be SDICE HIM A VTX buy them at havelockinvesments.com

I like Litecoin. It was very slow to follow Bitcoin during the last crash. And it's been gaining value against both USD and BTC. I day traded BTC/LTC for a while with success. Buy some!


Thanks for letting us know about Havelock Investments. I hadn't heard of them.

Altcoins have no real use besides speculation, nor security comparable to the Bitcoin.

BTW, look how fast Litecoin hashrate fell because miners switched to other more profitable altcoins. Low hashrate == low security!
https://www.litecoinpool.org/charts

+1

Agree wholly. Short term gox taking on litecoin has to be bullish but litecoin is less robust than btc for many reasons. The only long term hope I could see for ltc champions is it becomes merged somehow with the btc network.

I don't believe it ever happen after Mt.Gox was sued and Litecoin is least priority for them now.

Really?  Because the sooner they start trading LTC the more money they rake in in trade fees.  LTC is an instant cash cow for any exchange accepting it.  An exchange is a business and the bottom line for any business is making more money. Period.

Also, a lawsuit of this magnitude will take years to play out.  I see zero reason it will affect Gox in the short term, i.e. adding LTC, and adding their new trading platform.

Lawsuit may not go ahead afterall if lab and gox agree on something behind doors, I am so sure none of them want to go through that, happens all the time.

Buy Bitcoin, mine Litecoin.

I actually agree with this,having experienced the federal system they like to come to some sort of agreement instead simply because litigation is very expensive on the Federal level.

> Hedging BTC with LTC/alts?
commit suicide

Highly risky, almost purely speculatory hedge, yes. Often the alt-coins are slow to follow a BTC crash (but still follow) and rise again while BTC is still struggling. If you play your cards right and are willing to take on a lot more risk, alt-coins can be a "hedge," or, well, at least a diversification.

LTC and NMC are the only ones that you could currently attempt to make a case for being anything other than pure speculation. There are a small number of merchants and organizations that accept LTC (along with there being a Silk Road equivalent for LTC) and of course NMC has its dot-bit domain name system. Of course, the alt-coins also provide alternatives to miners and they can't be overlooked for this role, even if "the only role of LTC is to mine and sell for BTC."

I'm still waiting for the coin that doesn't involve copypasta-ing the satoshi client...

Lol... Speak for yourself. I sold my btc and bought ltc before the last sub-100 BTC crash just yesterday and actually gained my holdings on btc.  Anyone not paying attention to ltc is an idiot in my book...

But good luck with your short sightedness.

+1

While I don't agree with calling Odalv a short-sighted idiot  ;) (I'm sure he/she is quite intelligent!) I do agree that it is incredibly easy to make profits going between BTC and LTC at opportune times. That isn't necessarily any more high-risk than BTC itself. Heck, LTC is closer to its top since the BTC crash than BTC is, and it's been that way for a while.

Considering the far smaller devs support, the higher transaction fees,
the more than rare business support... Yes, I think Litecoin is more risky.
Probably running 100% on hype for now.

Not that you can't make an important profit if you can ride the wave.

I am buying mainly Litecoin for now until they are put on MtGox...I will sell when they are 10x more valueable than what I paid for them. I doubt it will take long with all of the trade going on MtGox, even if a tiny portion decides to dabble.

The longer it takes for MtGox to start trading it, the more I can buy.

Thumbs up to you!

Hedging with LTC/Alts is certainly a wise strategy. If bitcoin doesn't flourish it has become very clear that some alt currency will.

It's funny, because they are all crashing as I speak (LTC somewhat less so). Their value is diluted every time one is featured in an exchange.

A better hedge would surely be buying gold. Of course the problem is that it's inconvienient.