Worth investing decent amounts in LTC?

[Teal Deer]

I know this doesn't really belong here, so if it doesn't fly well and has to be removed by all means do so.

I'm interested to know what the btctalk crowd has to say seeing as it does involve Gox though.

I've currently got several hundred dollars worth of LTC, but I'm considering whether I should put in 1-2k more before it goes over to Gox and goes apeshit.
Is this a fairly safe play?

At worst I figure it never goes to Gox and I break even or lose a little, but if all goes ahead I should at least double my investment, if not make 5,6,7,8,9,10x in the first few days after IPO.

Here's a suggested plan to pump the price up quickly from an apparently reputable poster.
https://forum.litecoin.net/index.php/topic,4698.0.html

I can afford to lose that amount of money, although obviously I'd prefer not. What's a good play?

[Birdy]

It's quite possible that it will crash right after entering Gox, because a lot of people bought them with the possible Gox introduction in mind.
If it doesn't go to Gox it's almost certain that the price will drop.

Answer: No, it's not safe play.

[escrow.ms]

Well buy them, but you need to wait for some time, several months to double your money or 1-2 year to get good profit.

[zoinky]

Well buy them, but you need to wait for some time, several months to double your money or 1-2 year to get good profit.

Or lose all your money.  Especially with people like fontas planning to pump and dump the market heavily.  All depends on a bigger fool.

[Teal Deer]

I am not looking for a quick pump n dump of LTC. Instead, this will be a coordinated effort to put LTC in the spotlight for good, legitimize the coin, and generate interest in its potential as a serious competitor to BTC and one of the leading tools in digital commerce.

-fontas

I guess either he's lying or wording it creatively?

[culexevilman]

Just play with what you can afford to lose.

[zoinky]

I am not looking for a quick pump n dump of LTC. Instead, this will be a coordinated effort to put LTC in the spotlight for good, legitimize the coin, and generate interest in its potential as a serious competitor to BTC and one of the leading tools in digital commerce.

-fontas

I guess either he's lying or wording it creatively?

Please... fontas is always looking out for his own pocket.  He says such a thing so he can sell before you are prepared to.

[Kiaya]

I think you're probably a little late to the party. On the other hand, there might be a buying opportunity just after the new instrument hits Mt. Gox.

[randrace]

I wish I had bought instead of watching LTC go from .50 to 2.50 before getting in. There is still profit to be made trading between BTC and LTC.

[Praxis]

It's quite possible that it will crash right after entering Gox, because a lot of people bought them with the possible Gox introduction in mind.
If it doesn't go to Gox it's almost certain that the price will drop.

Answer: No, it's not safe play.

I've seen this over and over with many coins that entered a bigger exchange.

[hathmill]

No its not safe. Yes it is very risky. Yes you could make a lot of money. My advice: buy some now that you never sell, buy some now that you sell if it goes up, keep some usd at hand so if it drops you can buy more cheaper. Basically what you want to do is too learn how too trade in and out of positions - it is extremely difficult though.