Bitcoin Forum

What do you think? Why is LTC dying?

People are starting to understand there is no use for litecoin. It offers no innovation over bitcoin.

And don´t forget the fact that LTC is really SLOW for the transactions...

good time to buy imo... only time will tell though...

Seems like NVC is going to be the second hard coin behind the BTC.

NVC's not getting dumped on because no one has any to dump. No one's buying either.

The Gox afterglow has worn off and people have realized LTC's release is "whenever", and they've decided to quit waiting and tying their money up.

ill just leave this here http://coinmarketcap.com/

fear monger like you success in scaring people?

sell them all
sell them all
or you are going to lose all

I dont`want to scare the people, im just asking why is dying.

if bitcoins are worth 50% in 2 month, are they dying too? ....

time to cash out to fiats! The war is over!

Bitcoin is diferent cause it will be allways the fist coin... LTC was the second coin for a long time, and now is the fourt coin behind BTB and NVC...

I hold you personally responsible.

let me know when you come down of your trip in to the Bat Country

Did you not click that link i posted?
Its only because there is far less BTB and NVC thats why the price is higher.
If there was the same amount as LTC they would be worth far less.

Your not comparing apples with apples.

Then why would you put a big 'dying' 'good bye' in your post instead of 'price decrease' 'skeptical' ?

Cause i want or know i have to ask for permission to put a tittle?

+1

These graph means nothing (at least not if you interpret them alone)

LTC is not dying some people are just diverting and loosing their money by investing into Porncoin , hypercoin , feathercoin or whatever shitcoin they believe will make them rich instantly.

Some people eventually get rich but they are only a handfull and I am pretty sure this handfull of people is now either buying BTC, or LTC.

Some other people (like , perhaps the author of this topic) are hoping the price will crash a little bit more (and trying to make it so) to buy a little more...This might eventually happen, or maybe not.

You think there are all speculators like you, but im just asking cause i was out of the cryptocurrencys for weeks and i don´t know why the LTC price went so down...

My question is rhetorical. Your posts reeked of sensational words used by sensational newspaper to orchestrate false hype in order to reap financial gain.  

I agree.  A lot of money got tied up and/or lost on the Litecoin copies that are being released every day hence reducing trade volume on LTC.  From looking at trade volumes (or rather no trade volume) on cryptsy and bter, you can see that people are starting to realize they're going nowhere.

A LOT of money got wiped off the market by all the people that are stuck with their feathercoins and chinacoins that will probably never sell.

I have a feeling we will see things normalize very soon and begin to see Litecoins resume their uptrend.  That's my thought, but then again I'm also a holder of LTC.

I'm holding onto my one LTC until its where Bitcoin is now and Bitcoins are worth about 2000 dollars.
I'm in it for the long haul people :)

https://www.youtube.com/watch?v=ojydNb3Lrrs

So long LTC and thanks for all the fish!!

And how many weeks you where out? Because in april the price was at 2.5$, and so now is higher than then. And this year where 2 spikes, one in march and one in the beginning of may, and at the beginning of the year was under 1$. So why the panic that is dying and title like "good bye LTC?" after a small fluctuation? And this considering that the LTC team has enlisted a few new developers.

Considering this, i can safely consider the title and the topic an attempt to spread panic and to lower the price of LTC.

its been said that the LTC prices were a bit high. Maybe its coming back to earth a little bit

And how do you measure the "price" again? What about BTC? Is it at the "right price"?
This forum attracts so many economists and market researchers, it's unbelievable

Last month the price was $2.5 for a while. ::)

Besides Bitcoin was equally volatile in it's early days.

One simple reason, several answers:

* The price crossed down through the difficulty.

http://img571.imageshack.us/img571/7985/lgt7a61.png

* Mining LTC is now less profitable than BTC and barely covers electricity let alone hardware costs.

* ASICs can mine BTC much more efficiently.

* LTC's rise coincided with its peak as a vehicle for GPU mining.

Fortunately I mined a BTC's worth and sold my 2nd 7950 at a profit - I think I was very lucky! Just look at the flood of high-end GFX cards on the marketplace.

What do you mean? I will have to disagree with you. http://cablesaurus.com/

"Novacoin has no hard cap except for the 2 billion coin max that has been entered for coding purposes; this can be lifted in the future if needed."

So how the hell is it trading 50% higher than LTC, which has a maximum supply of 84 million?


At 1/4 the price of BTC, since it has 4 times the supply...in theory. This assumes that demand for LTC is identical to BTC, which clearly it is not.


You secretly love it.

If you can give a single reason for NVC becoming 'nr2' other then your personal opinion that would prob be useful. I personally think the early pre-mine stigma and the lack of adoption vs. LTC makes this exceptionally unlikely.

I agree with these statements. The only REAL reason for LTC's 'success' (or any Scrypt coin for that matter) has to do with the dynamics of the mining community. Miners simply 'hold' coin at a certain value based on break even for GPU equipment. When it falls below profitability far enough the crash only accelerates as miners move away from the network.

This is irrelevant. What matter is how much money can 1 person do in one day with a fixed kh/s.
For example with 600 kh/s, at the current difficulty, you can make $3.22 with bitcoin, $3.07 with novacoin and $2.84 with litecoin. Yes, now it seems that is more profitable to mine novacoin, and if the miners will switch from litecoin to novacoin, then the hashrate will drop for litecoin, adn the dollars / day will increase. And this is all that matter at one point, the dollars / days

Its gone down because some troll posted on the Litecoin Forums that MtGox wouldn't be accepting LTC currency.
This is for the benefit of someone who is now stockpiling LTC at the lower price before it bounces back.

how do people make money?

think wisely and buy when everyone else panic and dumps

Wow, a sensible response.

Why is LTC crashing at the moment? Simple.

Its value rocketed up along with Bitcoin's a couple of months ago, and since then, a lot of people have bought in to what was Gox rumour at the time. After Gox announced that they would be implementing LTC in the future on an official press release, rumours started flying around that Gox weren't ever going to implement LTC.

So what have we learned? People are more interested in baseless rumour and speculation than facts and official announcements. That's frightening in itself.

I view this (if not today, when it levels out) as the perfect time to buy LTC. LTC is not dead, it's just getting started.

Sorry a small handful of online retailers does not a useful currency make.

I know there are plenty of proponents(early adopters) for LTC on this board, but as someone who took a break following crypto during it's inception and came back later I really don't see what's innovative about it at all from a non "miner profit" based perspective.

It's asic proof, great so asic miners will never care about it.  It's "faster" than bitcoin, but not fast enough to make a big difference especially compared to the nearly instant speed of the recent alt clones.  It's main saving grace is it was one of the first scrypt coins so it was adopted by tons of GPU miners looking to avoid the upcoming ASIC mining wave in Bitcoins.  I just don't see that being enough to keep it afloat when every day new scrypt coins come out that offer improvements, especially when it doesn't have the name recognition and community/retailer support of Bitcoin.

Oh hey you're back!

haha

+1

I'm buying and mining LTC. Keep dumping them, please, thank you!

Not looking too good for LTC

The only thing new or interesting about it was that it used a different hash algorithm.  So, if that adds value, why is YAC not trading at .025 BTC ?

To make matters worse, the LTC code base has fallen behind BTC's and developers are asking for donations to try to catch up.

At this point, I think the argument can be made that LTC serves no worthwhile purpose and should be trading at DGC or WDC levels.

DGC and WDC are both "faster" than LTC, by the same metric that LTC uses to say it is faster than BTC, and both DGC and WDC are good coins with excellent support networks

Also, let's not accept the argument that LTC is anything original.  It was a copy/paste of the BTC source code with a new hashing algorithm.  Little else was added.  Comparable to a YAC

this post seems very premature. it seems to me only a price adjustment but, PLEASE, continue to spread the news, so I can buy more and more litecoins to a yet more favorable price.

I agree with fenican. LTC had it's shot at the title and lost. Time to back one of the newer contenders with a better chance at the title. WDC or DGC you choose; both better options than LTC.

Quoted for a good laugh

You guys need to try harder.

Beware of NVC as it price is manipulated by BTC-e since beginning (they are watching over market and making bids, asks to make price nice)!! But they might lose interest in it later

:D I also guys comparing LTC to shitcoins and saying they are better :D:D maybe when there will be any serious service for WDC, DGC or YAC we can polemize about being equal, but until then - lol

thanks for this ! Didn't know this site, and it is great. I've sent you 20 cyber-points.

Here comes the old guard with their piles of LTC claiming one site that sells illegal substances makes LTC a legitimate currency. Give us a break.

if LTC is dead everyone pls stop mining it so I can get some when dif crashes

LTC was 0.021 just prior to the announcement that MtGox was going to implement LTC.  The announcement was made, LTC shot up to 0.03+.  It's been coming back down ever since, as MtGox's LTC implementation has been put on hold.

Once MtGox LTC actually DOES happen, LTC will shoot right back up again.

This sounds eerily similar to comments made about BTC's early days.

IF it happens. LTC will crash if Gox drops LTC because they will most likely choose another.

This argument would hold water if BTC had to compete with other established cryptos in it's early days.

Just because it worked for bitcoin, doesn't guarantee litecoin can repeat when the market landscape is completely different.

^^

People was saying "LTC will be worth of 20 DOLLARS!" so it is a lie?

We have some seers among us?

+1

That seer is Mt.Gox i suppose.

In Gox we trust? I don't think so..

Gox is gonna do it eventually. It's inevitable. If you are hasteful, then yeah, sell of your LTC.

If not, LTC is a good buy until it hits Gox.

.0004?

lol i am confused as hell ( mine or not ^^ )

Rumors first started, what date exactly? Thank you.

How is it dying?  BTC peak was 260,  it is now 130, appears to be dying too!

Not following. LTC has already survived longer than most cryptos and increased significantly in value vs both fiat *AND* BTC all while "competing" with an established crypto. Why will it suddenly fail when there are more uses for it now than ever before?

If you want guarantees then you should probably pack up your crypto clients right here and now. I suggest goobermint bonds. These are guaranteed...guaranteed to collapse. 

FUD joke of a thread.

You can't use "it worked for bitcoin" when discussing litecoin because the market landscape in those scenarios is completely different.  Bitcoin was pioneering a trail, things that worked for it won't always work for litecoin which has to compete with what is now a vastly oversaturated crypto market.

...and? The thread title is about LTC's demise. How does an expansion in the Litecoin economy not work in it's favor? The fact that BTC had SR before LTC had Atlantis does nothing to reduce the utility increase LTC users potentially gain from the existence of Atlantis. You seem to be hung up on your pre-existing conclusion that LTC is not a first and therefore any progress should be dismissed.

Also when you use the terms "guarantee" and "won't always work" you're weakening your own arguments. Please see post above about government bonds and guarantees. 

not a lie, it's speculation

+1

We'll go back to Dec. 3, 2012 (6 months) just to be safe.

http://imageshack.us/a/img153/2585/ltcprice.png

Price was .072 at it's low. Where's the .0004 or even .004??

Anybody can check that chart and see that the price stayed constant for a couple of months and then shot up right around the time Gox officially announced support (and delay in implementing) for LTC.

FUD BS. Done with this troll thread.

STILL buying and mining.

we talk about LTC to BTC

Gotcha. Still done with this thread.

http://forum.litecoin.net/index.php/topic,4008.msg28501.html#msg28501 I predicted boththe ltcbtc drop and threads like these. People trading cryptocoins are super predictable. Its much, much easier then the forex market. Please for your own sake, if your not a trader consider thar onn the other side of the trade is someone likely eating your lunch. Especially so if you do short term trading.

;D  only thing I'm missing here is leverage...and pips...  :'(

LTC is dying. There are other coins that are better now.

Check out worldcoin.

In 3-6 months time I will bump this thread and most of you will be very sad. LTC is not dying. Your soul is dying

At http://dustcoin.com/mining LTC is second most profitable to mine.

And if you do not have a BTC rig it is therefore most profitable.

It is not dying.

 :)

I call FUD!

LTC is stronger than ever

It was over a dollar a few hours before the gox news broke. And it was 80 cents a couple of days before that. And prior to that it was 40 to 70 cents for a few weeks. Nothing like 3 dollars where it is now but it was still showing solid growth, and at the time those numbers were massive for an alt currency.

What really kicked it off is when Bitcoin broke $32 and started it's bull run up to $260. People started kicking themselves for missing the boat and looked for 'the next bitcoin', at the same time lots of new blood came into the game, brought in by the media attention.

Where are you guys getting these facts? LTC was WELL above $2 when the Gox news broke. It may have been much higher but that is my limited knowledge (I had Real Life things to attend to)

EDIT: According to my limited knowledge LTC was about to crack $5 when the Gox news broke - I just did a quick google to check my facts.

WDC? ROFL

WDC is certainly gaining ground for being in its early stage.

That's what was said about Feathercoin as well. Don't get me wrong, I made over 10K from feathercoin, but just look at where it's at now..

Soon there will be an ethical coin you can mine for "free" ontop (merge mine) with LTC.

Ethicoin: https://bitcointalk.org/index.php?topic=221375.0

Have fun  ;)

As said before Litecoin is dying because it offers 0 advantage over bitcoin. Except it is accepted at fewer places and even more risky. Don't waste your money. All of these altcoins will be dead within a year.

Only an altcoin that offers something significantly different and better than bitcoin has a chance of surviving.

MtGox will NEVER offer Litecoin exchange services. I know they already announced it, but mark my words, it is never going to happen.

BTC is awesome. So is LTC - you cannot deny that the faster transactions and Scrypt proof of work scheme brought something to the table.

Your post is rubbish.

EDIT: is 4 x transaction speeds a significant improvement in your eyes? Clearly not. Lol

litecoin is down because it's one of 10000000 scrypt coins in the market instead of one of 10.  Pretty standard drop.  The mass flood tends to lower everyone else.  At some point it'll stabilize but that won't be till people stop making new coins, presumably when they no longer profit from doing so and the complete lol coins totally die off.

This.  People are realizing that LTC has nothing over the other scrypt coins (some of which have more active developers) other than a small head start and a handful of sites accepting it.

It's still the best alt coin, but it's losing ground.

I think this is the case as well. They will pick one of the newer offerings or none at all.

I'd argue MtGox has even more reason to add Litecoin now because traders are leaving them after recent blunders. They need something to bring people back, otherwise their numbers will keep declining.

10K what?

Yes the official Mt Gox announcement must be FUD  ::)

Personally I think LTC is going to pick up when no one expects it.

(Gox aren't going to give much notice)

Hold on!

Of course not, if you read it on the net it has to be true.

Well it was in an official Mt Gox Press Release. Hardly the BTC-e trollbox or Bitcointalk (which is becoming just as bad)

I'll make this fun and easy for the OP..


LTC is so dead. The new Buttcoin is the future mine all of it.. tell your friends, your sister, your cousins.. take out a mortgage and buy every buttcoin you can because LTC is fluctuating like a normal market it has to be dead  ::)

Also, GOX has just as much volume as btc-e so don't expect that unicorn to change LTC to $100 each.

Ha ha ha ha.

I expect 100-500% increase when LTC hits Gox.

That is conservative when it comes to crypto  8)

GPU miners leave BTC and go to LTC. the LTC community gets larger. more services created for it. the price goes up.

this!

Isn't the underlying question here really whether the BEST or the FIRST coin will succeed? I have been thinking a lot about the relation between Best versus First. Coca Cola and Pepsi Cola dates back over a hundred years. What part does First and Best play in this legend, and how does First co-relate to Best?

Pepsi went bankrupt twice. http://www.businessinsider.com/soda-wars-coca-cola-pepsi-history-infographic-2011-11?op=1 Anyone know if there were any others in the early days beside Pepsi Cola that were competing with Coca Cola?

I decided to sell all my litecoins a week ago because I thought the price would continue to sink a bit lower and it has. I mostly bought them for the Gox rumor but with all the problems there facing now it's looking like they won't add it for a few more months.  And when they do who knows how many users will still be trading on there site.

Pips ftw! ;). Im curious, do you alsoo find cryptocoin simple to trade compared to, say, eurusd? I find that there is almost no whipsawingg and patterns actually play out the way u think time n time again. Even the fundamentals are easy I think. What do you think?

Problems? Don't they have to just file some paperwork to resume business as usual in the states?

You base your question on price.

Price =/= life or death.

Unless there is not traded value then it might be considered dead. I look at the network for vital statistics of "life".

you guys are forgetting that with the release of Atlantis Marketplace there is now an actual place to spend litecoins on besides gambling

GPU miners will mine ltc more then ever. (but looking and 86% rate to bitcoin, 20% more power and noise to hash and exchange fees, transfer it is like 65% now)
supply/demand

price will fall

gpu will be sold at 40% value in 2 months from now

sad but true

It's not dying. It has over 50 million market cap.

ftc has huge market cap too.
and died

due to prof. below 100%
same schema there

Yea, Litecoin is dying... it's only gone up 4000% the past 7 months. What a crappy ROI....  ::)

LTC is old. BTC is older. Once upon a time Duke Nukem used to be THE game to play. What was popular last week is often superseded by something better.

if anyone has noticed most coin prices float around btc price or they get dumped to drastically below it until their difficulty lowers from lack of mining.

So what makes people think that litecoin price will surpass bitcoin.  people still don't treat it like a real currency.  most miners still trade it for btc.  it used to be worth more when people were trading their crap coins for ltc but a lot of the exchanges converted straight to btc so ltc was cut out as the middle man.

So where is it going?  BTC is getting a massive difficulty jump very soon.  its going to cripple gpu mining.  not kill it but people are going to get half the profits they used to get.  does that mean that ltc miners will just accept half the profit for mining ltc?

what happens when you cant gpu min btc at all and you are locked out because of the asics.  all that is left are scrypt coins.  and where is the scrypt coin community?

Yesterday, there was a nice little interview with Charles Lee (coblee) about what LTC is, its origins, the team structure to some degree, 1st and 3rd party development, and the future.

Some topics are rather shallowly explored, but it's nice to glean a little bit of dev mentality surrounding the coin.  This was mildly encouraging, imo, rather than being left in the dark to think that devs have put baby in the corner.  Nobody puts baby in a corner!  sry...

Interview starts around 48m in and ends at 1hr8m.

https://soundcloud.com/mindtomatter/e12-you-get-my-bitmessage-lets

Comparing crypto-currency to gaming really  ??? Adoption is what drives these coins, just because they are old means nothing and it's not like improvements can't be worked in.

You are taking a huge risk not holding LTC into the summer with Gox slowly getting it's act together.

difficulty going up price down  :( really bad days for miners

Hey Guy,

Good luck with your cafepress site but who the hell are you?  Oh, that's right, you're a nobody.

Have fun being a loser,

Cheers

+1, and +1

exactly my thought.

DGC and WDC have not a support networks, look at difficulty going up and down based on profitability, the network doesn't really grow.
Also, DGC and WDC are LTC clones so if you are saying LTC is no good because it is a BTC clone your argument is, again, pointless.

Also isn't their code just as old as litecoin's?

Its not as if they took latest bitcoin code and put scrypt in, is it?

So if litecoin is old code they are just copies of old code they didn't even bother to copy the new code...

-MarkM-

Yes, most of the newer coins are direct copys of Litecoin in its current state which uses Bitcoin v0.6.3

Litecoin is upgrading the code base to Bitcoin's current release of v0.8.2

I doubt the same can be said for most of the copy and paste coins.

Litecoin's price will go up in the coming months, mark my words. If you've been to the Bitcoin Congress you would have seen the massive interest in Litecoins, and there were some badass announcements from the developers aswel as storeholders and the community.

Only fools sell now!

litecoin's price will be tied to bitcoin's price, just as it always has been.  price of bitcoins goes down, litecoin value goes down

the bots will make sure of it

The technical specs of a coin aren't that important. It's community support, people driving to get new businesses accepting it, people building services around it, media coverage etc. That is why Bitcoin is number 1 and Litecoin is number 2, even though technically Litecoin is an improvement. And that is the same reason why Litecoin is number 2 and not any of the clone coins. The next coin that will be successful needs to focus on building a core community of vocal supporters as well as having a unique, marketable strength. The coin market is saturated now though so it's difficult to stand out. The problem is a coin which is too innovative has to gain the trust of users (because this is money after all) and PPCoin has shown how difficult that is, and I predict similar issues with Netcoin - it takes years for trust to be gained in a new protocol, as it did with Bitcoin. Yet a coin that is too similar doesn't stand out... and all the obvious parameter tweaks and permutations have been done, it seems.

Litecoin's growth will hit the next gear when a payment processor is released (this will be feasible after it goes on mtgox, btce isn't suitable for many companies imo) and a flood of businesses that accept Bitcoin start accepting Litecoin. The problem with Litecoin at present is that too many miners are hoping to make a quick buck and double up money when it goes on mtgox, without looking at the bigger picture and this has snowballed so now all people talk about with Litecoin is going on Mtgox. The quicker Litecoin goes on mtgox so the community can focus on other things, the better.

Btc is also about to get around a 25% difficulty spike, which should help alt coin outlooks as far as mining profitability again

wtf Litecoin price still bad  :-[

and bad means high or low?

I think the price is still a little high. Expect it to drop below $2.00 soon. It's good for those who wanna buy, but bad for those who bought at $4+