Why are litecoins worth 6 cents?

[kingcrimson]

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?

[smoothie]

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?

Speculation.

 

[Buffer Overflow]

Because of their expected future value. Just people speculating.

[odolvlobo]

Well, you can use them to buy gold and silver, at least.

[FuzzyBear]

yeah some peoples hashing power surprises me that is on LTC, but yeah speculation

[Liquid]

Well, you can use them to buy gold and silver, at least.

Where or just on the forums ?

[matthewh3]

Well, you can use them to buy gold and silver, at least.

Where or just on the forums ?

You can buy gold and silver for delivery with litecoins on - https://www.litecoinglobal.com - and just silver ATM on - https://cryptostocks.com

[Liquid]

Well, you can use them to buy gold and silver, at least.

Where or just on the forums ?

You can buy gold and silver for delivery with litecoins on - https://www.litecoinglobal.com - and just silver ATM on - https://cryptostocks.com

Which Stock Bond or Fund does it on litecoinglobal ?

https://www.litecoinglobal.com/security/LTC-SILVER

[tatsuchan]

I invest in silver, and right now I can't pay my rent or buy groceries with it.  Does that make silver worthless?  Give Litecoin a little bit of time.  Someone will set up a bitpay for ltc (if bitpay doesn't wake up and just support it already) and hundreds of people like me will add it to their webshops.  I'm betting on btc to gain more success, and I can see a market for a secondary p2p currency.  Ltc is absolutley the most qualified for that with it's gaining momentum. 

[SAC]

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?

Well same can be said of btc, ~ two years on from when they were worth similar money and it still does not have a sizable market use for them. Yet somehow it is worth around $12 at the time I write this now people can see the similarities in the situation of both and are thinking well if it can happen to btc why not ltc. 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. Then you can add in the reward cut and asic on the horizon which will make getting any return back on the massive amount of hash power out there already dedicated to btc next to impossible so people are searching for way to keep making money off that investment they have made.

[Otoh]

because crypto currencies could well be huge, they can do what nothing else before can & Litecoin is very set up for fast confirmation niche markets & ppl can still be early adapters there:

http://forum.litecoin.net/index.php/topic,884.msg3897.html#msg3897

The British Museum has added some Casascius bitcoins to it's permanent display on the evolution of money exhibition but Cas & devs don't want to take the next step of getting them set up with something to show their coin's addresses value on the blockchain live & QR codes etc so that visitors could donate to it just as they anonymously donate cash atm, could this be an opportunity to get litecoin out in the public eye & demonstrate it's potential - if so what would be the best thing to offer to donate to the museum to enable this?

Re niche uses, I'm thinking fairly low value uses where also waiting for a few confirmations isn't a problem, one potential enormous world wide one could be parking fees as the vehicle is going to be there for like at least 10 minutes for plenty of ltc confirmations & it would give an alternative to paying in cash, one could even top up one's fee if that's permitted by smart phone etc at a distance if the ticket machine generated a new address for each client & visit, it could even perhaps do away with tickets altogether if you just punched in your vehicle registration number, it then gives you an address to send to for that visit & when a warden comes round they just download the info in to a hand held device to be able to check against the vehicles parked in that zone. In the future your vehicle may just connect remotely to the paying system & do this for you - you just tell it how long you plan to stay or it keeps topping up until the maximum allowed visit time & sms you an alert, would also work well for congestion zone charges.

Train/bus etc tickets would work well as you are on them long enough for confirmations to take place, license fees also.

Another type of use could be photo booths as you pay first, get your pics taken then have to wait a few minutes for them to be developed which gives time for the confirmations to take place before it releases the pics to you, maybe hot food vending machines too where you have to wait for the product to be heated up.

Obviously crypto coins are ideal for charity donations as there is no incentive there for givers to double spend & no net loss anyway if they did.

Edit to add, for conventional vending machines they could give you a PIN number instead of the product & it's redeemable after 10 minutes or sufficient confirmations, would work for say cigarette machines in bars etc, stuff like gold ingots in hotels or airports where ppl will be waiting around anyway.

[LiteBit]

Litecoin really needs to bounty up for developers to create marketplace tools. First alt coin to do this wins a spot in the real world and leaves the others in the dust. Like bitcoin has done thus far with litecoins and all other alts.

[ewibit]

...

you have a very interesting sig 
....................
BTC = $c²
LTC = $c³
....................

[markm]

Litecoin really needs to bounty up for developers to create marketplace tools. First alt coin to do this wins a spot in the real world and leaves the others in the dust. Like bitcoin has done thus far with litecoins and all other alts.

What marketplace tools have bounties created for bitcoin that are not usable with other chains?

For most chains all tht changes from a tool's perspective is the port number to make RPC calls to and the word, letters and symbol used to refer to the currency, so surely the bountying-up bitcoin did serves almost all chains?

isn't changing costmetics such as what word/name to display, and configuration settings such as what port to connect to so trivially simple that it is really just part of your desgner's work in putting costmetics on a tool for a specific company's deployment of the tool, thus pretty much something each end-user (marketplace) will need to do for themself anyway as normal part of 'branding'?

(e.g. your designer will want to edit look and feel anyway, so while setting font how hard is it for them to also set what word to use to refer to the currency???)

-MarkM-

[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.

[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.

[420]

why is an ounce of silver worth $33? I can't even buy a pack of pokemon cards for an ounce of silver almost anywhere

on side note, why not have one block ever minute for even faster confirmations?

one exchange requires 10 confirmations which defeats some of the purpose of having quickly solved blocks..

[TheButterZone]

Scamcoins.

[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.

[420]

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.

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