Why are litecoins worth 6 cents?

[SAC]

And unlike btc people have known about ltc from the start there is no early adopter problem with it anyone who wanted to be one has done so or had the opportunity to do so.

I didn't know about LTC from the start, and only a small percent of people know about LTC today, so that's not true.

If you were on the forum just over a year ago there were announcements, discussion of the launch procedure, contest/vote for logo design  all kinds of shit like that so if you or anyone else weren't here for it tough luck, unlike BTC most have no damn excuse if they did not adopt it as on here it was well know what was going on.

Just like people would know about Bitcoin from the start if they were on the Cryptography Mailing list at metzdowd.com in january 2009.

Well they had a lot better chance of it with this forum than some obscure mailing list that most people have never heard of, hell most have never heard of a mailing list, go troll elsewhere. PLONK

[Kupsi]

And unlike btc people have known about ltc from the start there is no early adopter problem with it anyone who wanted to be one has done so or had the opportunity to do so.

I didn't know about LTC from the start, and only a small percent of people know about LTC today, so that's not true.

If you were on the forum just over a year ago there were announcements, discussion of the launch procedure, contest/vote for logo design  all kinds of shit like that so if you or anyone else weren't here for it tough luck, unlike BTC most have no damn excuse if they did not adopt it as on here it was well know what was going on.

Just like people would know about Bitcoin from the start if they were on the Cryptography Mailing list at metzdowd.com in january 2009.

Well they had a lot better chance of it with this forum than some obscure mailing list that most people have never heard of, hell most have never heard of a mailing list, go troll elsewhere. PLONK

lol. Most people have never heard of this forum

[killerstorm]

How come litecoins are worth 6 cents when they have no market to use them for? Why do the people who mine, sell and buy litecoins use it, instead of just using bitcoin?

There is a market, for example: litecoinglobal.com

You cannot buy groceries there, sure, but financial market is still market. It helps to stabilize the exchange rate.

For example, ESECURITY_SA bond must convert USD to LTC to pay dividends. So this bond adds to continuous demand for litecoins.

Also people might buy litecoins as a hedge... Since it is using different hashing algo, most likely attack on Bitcoin won't affect Litecoin, and it is easy to adapt any tools made for bitcoin...

[creativex]

How come litecoins are worth 6 cents when they have no market to use them for? Why do the people who mine, sell and buy litecoins use it, instead of just using bitcoin?

There is a market, for example: litecoinglobal.com

You cannot buy groceries there, sure, but financial market is still market. It helps to stabilize the exchange rate.

For example, ESECURITY_SA bond must convert USD to LTC to pay dividends. So this bond adds to continuous demand for litecoins.

Also people might buy litecoins as a hedge... Since it is using different hashing algo, most likely attack on Bitcoin won't affect Litecoin, and it is easy to adapt any tools made for bitcoin...

Great points. Litecoin global could be huge for the continued development of litecoin and cryptos in general as it's shareholders control moderation of the new BTC market(btct.co), so investor traffic will be driven toward litecoinglobal and therefore litecoins. They're joined at the hip.

Someone snapped up 14 shares of litecoinglobal @ 200 each while I was typing that. 147BTC

[odolvlobo]

Someone snapped up 14 shares of litecoinglobal @ 200 each while I was typing that. 147BTC

14.7

[smoothie]

Someone snapped up 14 shares of litecoinglobal @ 200 each while I was typing that. 147BTC

14.7

Simple math for some here is such a difficult thing/

[creativex]

It was a simple typo bubba, I was exhausted.

I believe 14 shares is the largest block I've seen move in one transaction.

[smoothie]

It was a simple typo bubba, I was exhausted.

I believe 14 shares is the largest block I've seen move in one transaction.

LOL okay...and i'm sure the "   " was a typo too eh? Why would you be so surprised about 14 btc worth of purchase of a security??

Backpedal more LOL fucking hilarious....bubba^-21,000,000

 

[odolvlobo]

It was a simple typo bubba, I was exhausted.

I believe 14 shares is the largest block I've seen move in one transaction.

LOL okay...and i'm sure the "   " was a typo too eh? Why would you be so surprised about 14 btc worth of purchase of a security??

Backpedal more LOL fucking hilarious....bubba^-21,000,000

 

Why are you such a bully?

[smoothie]

It was a simple typo bubba, I was exhausted.

I believe 14 shares is the largest block I've seen move in one transaction.

LOL okay...and i'm sure the "   " was a typo too eh? Why would you be so surprised about 14 btc worth of purchase of a security??

Backpedal more LOL fucking hilarious....bubba^-21,000,000

 

Why are you such a bully?

ROFL! Why are you such a baby?

"wah wah wah wah wah.....wah!!!  "

LOL!!!!

 

Smoothie

[creativex]

It was a simple typo bubba, I was exhausted.

I believe 14 shares is the largest block I've seen move in one transaction.

LOL okay...and i'm sure the "   " was a typo too eh? Why would you be so surprised about 14 btc worth of purchase of a security??

Backpedal more LOL fucking hilarious....bubba^-21,000,000

 

Simple reading skills...lacking.

///Ignore smoothie.

First ever to make the list here. Your posts are 99% vitriol and personal attacks, just not worth it. Little mans disease is tragic, perhaps there'll be a cure someday, then you can come off lots of ignore lists.

[smoothie]

It was a simple typo bubba, I was exhausted.

I believe 14 shares is the largest block I've seen move in one transaction.

LOL okay...and i'm sure the "   " was a typo too eh? Why would you be so surprised about 14 btc worth of purchase of a security??

Backpedal more LOL fucking hilarious....bubba^-21,000,000

 

Simple reading skills...lacking.

///Ignore smoothie.

First ever to make the list here. Your posts are 99% vitriol and personal attacks, just not worth it. Little mans disease is tragic, perhaps there'll be a cure someday, then you can come off lots of ignore lists.

Another one cries and hits the ignore button! Lol hahaha

[420]

Pretty soon litecoins will be worth 6 1/2 cents

[ewibit]

Pretty soon litecoins will be worth 6 1/2 cents

or perhaps more... 
some time ago it has been 16 cents...

[hashman]

It's a botnet coin.  More profitable for CPU mining and hedge against the possibiliy of SHA356 collapse. 

[franky1]

the answer to the question on first post is this (mainly aimed at the noobs to grasp how prices change)

although you do not see litecoins used in grocery stores or domino's pizza in your town. they do have a value and this value is the cost of production. EG electricity and hardware.

miners want to ensure if they are going to mine something they can sell it to atleast break even or to profit. so the current cost of production puts LTC at 6cents due to current difficulty and hardware costs and a few other considerations.

the next thing to take into account is the direct BTC -> LTC price which after people have arbitraged the price swings due to costs changing, the direct crypto to crypto prices level out to a middle ground of the dollar values of each crypto's.

ill make it easier to understand with the image below.


take table 1
if i had 1000LTC and sold them for $0.0612, id get $61.20. if i then bought BTC id be given 4.955BTC and if i sold the BTC back to LTC direct id get roughly 1000 again (yep i ignored commission and volatility to make things simple)

now take table 2
lets say BTCUSD went to $14.35 due to halving causing abit of a price bump*. LTC miners would sell their LTC for dollar buy in BTC using dollar for only 4.268BTC and be left with only 861 LTC when buying back LTC.. so they wont do that.. instead they would sell LTC direct to BTC causing the BTCLTC price to drop whilst they sell at the top buy prices or add more lower prices to the sell wall to try grabbing their quick bargains.

and now you see the result in table 3. LTC still worth $.0.612 due to cost of production but not worth as much BTC due to the evening out of the arbitrary cycle until it becomes unprofitable again.

*don't reply like sheep with the scripted quote "BTC price has already factored in the halving"

[420]

Pretty soon litecoins will be worth 6 1/2 cents

or perhaps more... 
some time ago it has been 16 cents...

When was that? Hard to find these charts

[creativex]

Huh? It is?



Now this is LTC/BTC, but you can surely get a sense. Recently LTC/USD has been tracking roughly 10x LTC/BTC. Real pitfall on BTC-e if you're not paying attention.

I nominate THIS as kewlest website of the year:

http://www.cryptocoincharts.info/

...and yes I am a shareholder.

[legitnick]

Why is my poop worth 0 cents?

[creativex]

Cuz the neighbor's dog has no pockets to carry change in?