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?

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[-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......

 

[s1gs3gv]

Maybe what we need is a LTC-XT coin. That way BTC-XT believers could take refuge in LTC-XT, BTC core believers could take refuge in LTC and all the rest who haven't taken a position in the controversy d'jour can just move into ETH as a bet that Ethereum will dominate the cryptosphere within 18 months.

~LOL~

[kelsey]

Litecoin is not a "haven" for anything.

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

Yeah what a good idea, only a guarantee 2% loss every compounding every year on the USD and limit supply isn't a thing. I think I would prefer Gold or Silver than USD or Euro even with silver going down a bit.

well if i was worried about the USD and Euro, i'd be going bags of wheat rice etc

though we're talking bitcoin, if it was to fail tomorrow, the sun will still be rising pretty fine each morning.

[NattyLiteCoin]

Soon coins will be compared in terms of LTC or ETHER. Or this whole project is going to collapse.

Who fuckin knows. Just keep you're family in mind and don't invest more you can lose!

[kelsey]

Just keep you're family in mind and don't invest more you can lose!

+1 (something all sides of every debate here should agree on).

[trinaldao]

litecoin price down of bitcoin price down too
and after bitcoin price pumping litecoin down to the hell


dont invest to litecoin i lose 1.5BTC buy at 55CNY

[Netnox]

Well congrats you are at a loss, cus the ltc/btc ratio went down.

[tadakaluri]

What about the DOGE? Is Dogecoin can be an alternative investment, till the Bitcoin fork confusion ends?

[kelsey]

Well congrats you are at a loss, cus the ltc/btc ratio went down.

who is?

whats intraday ratios in the grand scheme?, you could come in every 2 min and say, hey ur at a loss, wow u won etc.....lol the OP said go ltc til the XT blows over so i'd say the OP's talking mid to longish term.

[Liquid71]

Well LTC will never have to worry about increasing the block size since nobody uses it, so yeah it's a safe haven from any debate over the block size  

[Liquid71]

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......

 

IF BTC fails all crypto fails. Nobody is going to have faith in another alt if the first crypocurrency died. Best case would be a small niche of users but nothing even close to mainstream. Nobody is going to invest real money in crypto if BTC fails.

[kelsey]

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......

 

IF BTC fails all crypto fails. Nobody is going to have faith in another alt if the first crypocurrency died. Best case would be a small niche of users but nothing even close to mainstream. Nobody is going to invest real money in crypto if BTC fails.

alt (to fiat) currency's  have failed long before btc come along, and btc still got running.

if btc failed yeah it'd be a big blow to p2p currencies, but people especially investors have short memories (otherwise the stockmarkets would never recover).

[kelsey]

Well LTC will never have to worry about increasing the block size since nobody uses it, so yeah it's a safe haven from any debate over the block size  

just more liquidity then all other alts put together and then some....so yeah nobody uses it 

[coolbeans94]

Move to Mintcoin. MINT is even cheaper, faster, better.

[bubbaj]

Outside of the Crypto community very few people have heard of any other crypto currency other than BTC. If BTC fails the whole of crypto will more than likely follow suit, the 2 waring sides need to get over themselves and solve the issue.

At $200 mining BTC starts to become very unprofitable and even more people will leave Crypto for good.

The trades that caused the crash yesterday were less than 1% of total market cap, if around 5% of coin holders panicked then BTC will more than likely fall below $100, after that more people will panic BTC will then be worthless and so will all other Crypto's as none of them have the fiat trading power of BTC and most can only be traded for BTC.

With the stress tests last month and now the attempt to fork BTC any main stream adoption will be put further back for any decentralized coin. Maybe a coin like ripple XPR that is centralized may end up the winner after all, this attempted fork shows that anyone can fuck with the coin.

[oblox]

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 stopped reading after this.

[rokkyroad]

this attempted fork shows that anyone can fuck with the coin.

Good point.

I think we should be worried about the future of cryptocurrency.

[DecentralizeEconomics]

Bitcoi NXT 

[NorrisK]

Well congrats you are at a loss, cus the ltc/btc ratio went down.

Hardly..

LTC/BTC has remained almost stable duringthe time BTC made a huge loss.. NMC suffered much more than LTC, which usually shows the same trendline as LTC.. To me this indicates that indeed, people are still contemplating about LTC as a good short term store of value.

[HCLivess]

try nubits, tether

[leopard2]

Litecoin is not a "haven" for anything.

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

Buying fiat ist not a solution, at least not for everyone. The market cap of Bitcoin is in the billions of $$ and there is only a few good exchanges out there. Each exchange would sit on a billion dollars or more, too much, if you ask me. The risk is that exchanges may go out of business if Bitcoin forks, and then all the $$ are gone (or you have to file a bankrupcy claim MtGox style).

Withdrawing to bank accounts is tricky; in most countries banks ask lots of questions or freeze accounts if a customer receives too much money from a Bitcoin exchange. In the U.S. the taxman will ask questions too.

I doubt that whales would sell into fiat. Therefore I believe that money will flow out of BTC into other cryptos, if the fork goes wrong