Moving into LTC until XT issue is resolved? As a safe haven?

[leopard2]

Maybe it is a good time to move from BTC to LTC, while LTC is still cheap?  

Technically there are 4 LTC for 1 BTC, so LTC should be $50+ instead of $3,50 ... LTC can do everything BTC can do too.

I understand this is an altcoin, but it is the next best alternative at the moment, and maybe it would make sense to move over to LTC until this XT shit is finished? I mean, if XT turns out to be OK, you can move back. If you stay in BTC now, there is a risk to end up on the wrong chain, or, which is more likely:

BTC could drop massively against LTC or USD, while the XT fight is going on. There is even a risk of BTC losing confidence forever because of the "2 people taking over" thing. That could result in a LTC that is worth more than BTC.

Selling BTC for USD is not so good, reason: if BTC breaks, then exchanges go broke and your money is gone. Buying LTC and withdrawing them seems the safest way forward.

What do you think?

[-Greed-]

No thanks.

[kelsey]

probably not the best section to post this.

but yeah ltc probably the safest haven til this all blows over.

[Delek]

In the wrong chain?, if you freeze your coins now you will be IN BOTH CHAINS.

[galbros]

What turtlehurricane said - almost all of the alt coins are priced and valued in terms of bitcoin.  So bitcoin's price change versus USD effects them as well.  Just like during bitcoin's boom, LTC was worth a lot, but that was driven by bitcoin not LTC.  

Maybe you do a little better, or maybe there is a coin you really belive in.  But just hopping to an alt like LTC is not going to protect you.

[leopard2]

LTC price is directly tied to BTC price. If BTC did in fact get destroyed by XT then yes it's a safe haven, until a fork happens all the altcoins will simply go down or up with bitcoin. Let's hope there's no fork, it would never happen by itself but it's clear powerful people are manipulating this situation.

Traditionally that is correct...LTC $ price is related to BTC $ price.  

However if BTC forks or breaks or loses trust, value (or market capitalization) will shift from BTC to LTC. And this will happen quickly when people run to the exits: exchanges may not accept BTC anymore during forktime, so you have to protect your investment before the fork.

I am only a very small fish but what is the alternative? USD? Yes but not on an exchange. Best safe haven is a good, safe, large cap cryptocurrency, and I can't see which one would be better than LTC.

Maybe PPC or NMC due to the algo. PPC and NMC could be mined with the same hardware immediately after BTC breaks.

[balu2]

LTC also has much higher tps so can handle much higher traffic than BTC in less time. I'm with ya on the LTC train. Dumped half on fiat and also a lot on LTC. Bitcoin certainly currently can't fill his role as default crypto basecurrency reliably anymore. So cryptoeconomy needs certainly a second pillow to secure crypto as a whole against a btc failure. Cryptocurrency will not fail if btc fails but we will need a main currency for trading. LTC is first choice.

[balu2]

In the wrong chain?, if you freeze your coins now you will be IN BOTH CHAINS.

Why would you want twice as much worthless coins?

[rokkyroad]

I can see people getting pissed with all this bitcoin drama(I know I am) and moving to an alternative. But it appears many are just selling out for fiat.

I'm not endorsing ltc but it would likely be first choice for many.

[cocales]

LTC, yes and maybe others too.

[bitwarrior]

I have seen others are moving into ETH and other new altcoins aside from LTC. Is this a good move? Only time will tell.

[johnyj]

Pre-fork coins are your safe heaven, since you will have both core coin and XT coin after the fork, and reserve the right to dump one of them when you see fit

[balu2]

Pre-fork coins are your safe heaven, since you will have both core coin and XT coin after the fork, and reserve the right to dump one of them when you see fit

Nobody cares.




---------------


@Litecoin

I think LTC/BTC will hold up, though the LTC/USD rate could suffer shortterm. But longterm , especially if the fork goes wrong LTC will go to the moon. Even if the fork does not go wrong (unlikely), bitcoin would die soon thereafter from spam and would be abandoned due to bloat, bad PR, bad block propagation and unrealistic bandwidth requirements. So LTC wins one way or another longterm.

I sold most my btc today. I have some leftover btc on the altcoin exchanges for trading alts. The money i took out from btc today will not come back. It goes towards alts and gold and will stay there longterm. FUCK GAVIN, FUCK MIKE; FUCK BLACKLISTING; FUCK BLACKMAIL-FORKS

500 altcoins to choose from...  
gold is a solid investement too

We don't need no stinkin Gavincoin.

There is so much space in all these altchains - no blocksize raise would be riquired in any of them ever.

[GenTarkin]

LTC price is directly tied to BTC price. If BTC did in fact get destroyed by XT then yes it's a safe haven, until a fork happens all the altcoins will simply go down or up with bitcoin. Let's hope there's no fork, it would never happen by itself but it's clear powerful people are manipulating this situation.

That's not true, it is definitely tied but not nearly as much as other coins. Litecoin may go down in value during a price crash but that's due to the exchanges and trades not expecting it and it being traded in BTC.

At this point ALL crypto is tied to the success / demise of bitcoin ... therefore price as well.

The largest network(bitcoin) will inevitably have all sorts of snowballing effects on the perceived value of all altcoins abroad. The experiment bitcoin & its alts will be deemed a complete failure. All prices will eventually hurl towards 0 if the shit hits the fan w/ bitcoin.
No form of crypto is a safe haven in this rocky time.
Its probably best to move ur crypto to hard assets, easy ones like buying pm's or something using crypto. They are going down in price as well, but will never hit 0 and stay there. PM's cant fail an experiment rofl!

[Sentinelrv]

If you want a safe haven alternative, try NuBits, price stable at $1 for almost an entire year now. We've had a lot of volume today thanks to the price dive.

[balu2]

At this point ALL crypto is tied to the success / demise of bitcoin ... therefore price as well.

Repeating it over and over doesn't make it more true. If bitcoin dies due to technical failure there will be other cryptocurrencies to fill the void - instantly.

[Nagle]

Litecoin is not a "haven" for anything.

If you want to get out of Bitcoin, buy dollars or euros.

[Kprawn]

Guys and Girls, this is just a storm in a cup, created by the XT rubbish. While you guys panic, we will pick up the cheaper coins.  If you want to hedge your bet against a possible loss, just shift some of it to

LTC or Ripple {It seems some of the banks are backing Ripple as the winning horse} When all this blows over, just jump in before it goes to the moon again, or you will have bigger losses than you would have had

if the BTC price tanked. {Having to buy, at a higher price} Let's just calm down and ride this little wave. 

[favdesu]

If I had to choose, I'd convert all my bitcoin to BitShares BitUSD - and convert it back after the storm is over.

don't think it's needed for the current XT drama, doubt it'll see consent.

[EvilDave]

I'm busy chucking all of my BTC stash (such as it is  ) overboard.......if the current BTC vs XT debate was happening in any other crypto, we'd be predicting total disaster.
Just because it's BTC doesn't mean that it can't fail, or that it won't tank again in the short term.

Any way I look at it, right now my BTC are better off being NXT, LTC, ETH or even Bitmark......