Litecoin price headed down

[foggyb]

Looks very thin on the buy side at the moment at btc-e. The move into bitcoin has shifted the momentum away. We could see 0.004 or 0.003 prices for litecoin very soon.

[beekeeper]

Wait half of btc miners moving to something else..

[foggyb]

That's not happening for quite a while.

[ElectricMucus]

That's not happening for quite a while.

3 days or so.
Still in denial?

[LiteBit]

Price heading up, down and sideways. 
Don't say I didn't warn ya! 

[odolvlobo]

You think that it is going to plunge all of a sudden, despite the fact that it has been flat for the entire week? The move into bitcoin has hit major resistance. The momentum is going to shift back into litecoin and in a big way.







I can vomit crazy nonsense, too.

[tacotime]

Personally, I think things will be pretty fun when blockreward of bitcoin halves in a few days and blockreward of litecoin doesn't.

[odolvlobo]

Personally, I think things will be pretty fun when blockreward of bitcoin halves in a few days and blockreward of litecoin doesn't.

What are you expecting to happen? I expect that miners will switch to mining litecoin and then quit or switch to other coins as the difficulty rises faster than the price. I expect the price of litecoin to rise gradually simply because of the increased attention.

[Deprived]

Personally, I think things will be pretty fun when blockreward of bitcoin halves in a few days and blockreward of litecoin doesn't.

What are you expecting to happen? I expect that miners will switch to mining litecoin and then quit or switch to other coins as the difficulty rises faster than the price. I expect the price of litecoin to rise gradually simply because of the increased attention.

There's a few competing factors to determine which way the price will go.

The extra attention is definitely one pushing upwards.

But on the on the other side most of those new LTC miners are going to want to sell whatever they mine for BTC - meaning a higher proportion of newly mined coins will be sold rather than held.  That's a downwards pressure.

Historically the LTC/BTC price has remained in the rough area where mining either is of approximate value.  If mining BTC is going to halve in value (in BTC) then some drop in LTC price is likely - though the recent fall has possibly already gone a fair way to delivering it.

If BTC rises in price vs USD when block-reward halves (likely - as cost to mine 1 BTC will double) then that ALWAYS has the effect of raising LTC/USD and lowering LTC/BTC (due to the arbitrage that occurs) unless some other factor has a large enough impact to make that invisible (absorbed).

The really interesting situation isn't when BTC block-reward halves, its when ASICs hit BTC.  At that stage LTC will become pretty much totally decoupled from BTC in terms of the earning power of hardware - as there won't be ANY hardware that can usefully mine both for comparison purposes.  It's anyone's guess what will happen then.

[meebs]

Personally, I think things will be pretty fun when blockreward of bitcoin halves in a few days and blockreward of litecoin doesn't.

What are you expecting to happen? I expect that miners will switch to mining litecoin and then quit or switch to other coins as the difficulty rises faster than the price. I expect the price of litecoin to rise gradually simply because of the increased attention.

I'm pretty sure of what will happen in the long run.... LTC difficulty will roughly double.. which will be almost exactly the equivilent of a "halving" (as far as an individual miner is concerned), if price stays roughly the same we now have two block chains again about equal in profitability, I'm sure it will stay that way give or take for quite awhile...

If the LTC price goes up, difficulty will rise again to bring its profitability back down around to where BTC is.

[FuzzyBear]

Personally, I think things will be pretty fun when blockreward of bitcoin halves in a few days and blockreward of litecoin doesn't.

What are you expecting to happen? I expect that miners will switch to mining litecoin and then quit or switch to other coins as the difficulty rises faster than the price. I expect the price of litecoin to rise gradually simply because of the increased attention.

I'm pretty sure of what will happen in the long run.... LTC difficulty will roughly double.. which will be almost exactly the equivilent of a "halving" (as far as an individual miner is concerned), if price stays roughly the same we now have two block chains again about equal in profitability, I'm sure it will stay that way give or take for quite awhile...

If the LTC price goes up, difficulty will rise again to bring its profitability back down around to where BTC is.

Yeah I agree with this comment, the difficulty adjustments will take care of the BTC block half and people jumping to new mining currencies, its when ASIC's hit though on top of the BTC block halving that will be interesting to see if BTC value increases as BTC become harder to get hold of.  personally i'm actually expecting the value of BTC to be arround $50-$75 in one years time but if its not then meh... we all had fun right

[420]

Please state your past correct predictions

[FuzzyBear]

Please state your past correct predictions

Erm God doesn't exist... and Nostradamus was not right on his end of the world prediction?

Actually my only claim to fame is identifying a gap in the market for a free newspaper in london in the afternoon... 1 year later... they released two

[420]

Please state your past correct predictions

Erm God doesn't exist... and Nostradamus was not right on his end of the world prediction?

Actually my only claim to fame is identifying a gap in the market for a free newspaper in london in the afternoon... 1 year later... they released two

thanks, I think I meant that to the OP

[foggyb]

Please state your past correct predictions

This thread was more of an experiment than a prediction.

[ElectricMucus]

Please state your past correct predictions

This thread was more of an experiment than a prediction.

Cool in you own way you just admitted spreading FUD.

[odolvlobo]

Please state your past correct predictions

This thread was more of an experiment a mistake than a prediction.

FTFY

[foggyb]

Please state your past correct predictions

This thread was more of an experiment than a prediction.

Cool in you own way you just admitted spreading FUD.

[420]

Please state your past correct predictions

This thread was more of an experiment than a prediction.

Cool in you own way you just admitted spreading FUD.

SPIT

Actually spreading Speculation, Permeating Incredible Theater

Incredible: Synonyms
2. farfetched, astonishing, preposterous.