ASIC will crash litecoin

[smoothie]

420, I can tell by your pots you have a lot of time invested in Ltc. And that you pray it will be rising to the stars and back.

The simple fact is currently all that is funding this PUSH in Litecoins is the flock of miners rushing to Ltc as they are unable to continue to mine Btc efficiently. As well as several people with large amounts of Btc looking to diversify there assets believing that Ltc is going Bullish. (which it most certainly is) This "rise" is unnatural, and not sparked by demand but simply by speculation with no real market liquidity.

Currently the price is holding at the .70 mark, with several large and rapid drops into the .45-.55 range. Ltc is immensely unsteady and the current vigorous fluctuations show this. There is confidence in Ltc to support the current price. Unfortunately it will not last. I don't even give it till the end of the month before dropping down rapidly to .15-.25

Please feel free to quote me on this at the months end.

So who determines if a rise in a price of something is natural or unnatural?

I guess then bitcoin's rise in price in 2010 and 2011 was unnatural right? Oh wait, none of the arguments against liteoin's appreciation apply to bitcoin, because it was the first right? Isn't that the logic that most BTC supporters that dislike LTC use?

[vindimy]

Here's a potential group of people who will be cashing out their Litecoins the moment they get them - the vendors of the new Atlantis underground LTC market (similar business model as that of Silk Road). I doubt this new market will generate any significant increase in Litecoin demand, at least in the beginning, since there's nothing on Atlantis that one can't buy on Silk Road - so the buyers will be folks who are already holding some amount of litecoins (hey, free drugs and stuff).

However, the fact that there _is_ a Litecoin-based market is definitely good news for this currency. As far as Atlantis' success, I think they will succeed just because of demand for the services they offer. I've checked out the site, the design and functionality are pretty solid, and just a few days after announcement there's already plenty of stuff to order. Who knows how much profit Silk Road has been raking in due to being the only stable underground market - $millions a month?

Now, what will happen if Silk Road decides to add support for litecoins?

P.S. It seems like being some sort of middleman (Mtgox, Silk Road) is the surest way of making big bucks, rather than speculating or mining them 'coins. So I wonder, why aren't any of you guys with 1000's of posts "selling the shovels during gold rush", so to speak? Or are you? You know, that first-to-the-market advantage is helluva thing and there's a _lot_ of cryptocoin-centered services that have yet to be implemented.

[abbyd]

Here's a potential group of people who will be cashing out their Litecoins the moment they get them - the vendors of the new Atlantis underground LTC market (similar business model as that of Silk Road).

Why would they cash out immediately if Litecoin's value is appreciating? 

Obviously they want their site to succeed, so they want to keep Litecoin stable. Dumping coins would be stupid.

Finally, don't they need to keep plenty of coin on hand to pay people (SEO, admins, whatever)?

[Brunic]

420, I can tell by your pots you have a lot of time invested in Ltc. And that you pray it will be rising to the stars and back.

The simple fact is currently all that is funding this PUSH in Litecoins is the flock of miners rushing to Ltc as they are unable to continue to mine Btc efficiently. As well as several people with large amounts of Btc looking to diversify there assets believing that Ltc is going Bullish. (which it most certainly is) This "rise" is unnatural, and not sparked by demand but simply by speculation with no real market liquidity.

Currently the price is holding at the .70 mark, with several large and rapid drops into the .45-.55 range. Ltc is immensely unsteady and the current vigorous fluctuations show this. There is confidence in Ltc to support the current price. Unfortunately it will not last. I don't even give it till the end of the month before dropping down rapidly to .15-.25

Please feel free to quote me on this at the months end.

Quoted. Good luck 

Just randomly passing by. 

[Quix]

Litecoin is likely to die out just like every other alt-coin. No one is seriously invested in it. They only do it to convert to BTC and that makes it likely to collapse at any second.

[CoinHoarder]

No one is seriously invested in it.

Wrong.

Litecoin's market cap = $68,152,758 usd

I know of people that hold 100,000+ coins

[solex]

No one is seriously invested in it.

Wrong.

Litecoin's market cap = $68,152,758 usd

I know of people that hold 100,000+ coins

I can't find any decent stats on LTC. Is there a site like blockchain.info, but for LTC?

[Operatr]

No one is seriously invested in it.

Wrong.

Litecoin's market cap = $68,152,758 usd

I know of people that hold 100,000+ coins

I can't find any decent stats on LTC. Is there a site like blockchain.info, but for LTC?

http://cryptochart.com/

http://bitcoindashboard.com/litecoins.php

http://ltc.block-explorer.com/charts

Here's a few good ones.

We have to look at the entire picture. I predict Litecoin doing what Bitcoin did but faster as Bitcoin has already blazed ahead of it, which should foster quicker adoption.

But moreso, Bitcoin will soon go beyond the reach of mere mortals and weekend traders. Mining is about to go insane with ASIC for BTC, also involving a large upfront investment to get a piece of. 2nd generation coiners have kinda missed the boat at this point unless you can jump right in with either high per Bitcoin cost or high investment in mining gear. But, there is Litecoin, a far cheaper alternative investment, and with ASIC driving GPUs and FPGAs out of Bitcoin, they will find a new home mining alternate currencies. As Bitcoin moves out of reach for average investors, attention will turn to Litecoin.

Essentially Litecoin is about where Bitcoin was 2 years ago. Bitcoin made a name for cryptocurrencies ahead of it, I think the progression of the markets will go through phases as accessibility shifts. We may see the other altcoins start gaining traction as well someday. Who knows, but it will be damn interesting to see what happens now.

[smoothie]

Amazing how OP and many other naysayers proven wrong about LTC adoption.

Now go suck a cock and feel sorry for yourself and your lost opportunity to have bought litecoins 2 months ago at $0.07 and now they are worth $4 a piece.

LOL ROFL LAWL HAHA 

[solex]

No one is seriously invested in it.

Wrong.

Litecoin's market cap = $68,152,758 usd

I know of people that hold 100,000+ coins

I can't find any decent stats on LTC. Is there a site like blockchain.info, but for LTC?

http://cryptochart.com/

http://bitcoindashboard.com/litecoins.php

http://ltc.block-explorer.com/charts

Here's a few good ones.

We have to look at the entire picture. I predict Litecoin doing what Bitcoin did but faster as Bitcoin has already blazed ahead of it, which should foster quicker adoption.

But moreso, Bitcoin will soon go beyond the reach of mere mortals and weekend traders. Mining is about to go insane with ASIC for BTC, also involving a large upfront investment to get a piece of. 2nd generation coiners have kinda missed the boat at this point unless you can jump right in with either high per Bitcoin cost or high investment in mining gear. But, there is Litecoin, a far cheaper alternative investment, and with ASIC driving GPUs and FPGAs out of Bitcoin, they will find a new home mining alternate currencies. As Bitcoin moves out of reach for average investors, attention will turn to Litecoin.

Essentially Litecoin is about where Bitcoin was 2 years ago. Bitcoin made a name for cryptocurrencies ahead of it, I think the progression of the markets will go through phases as accessibility shifts. We may see the other altcoins start gaining traction as well someday. Who knows, but it will be damn interesting to see what happens now.

Thanks for all the info, very interesting!

[Schrankwand]

No one is seriously invested in it.

Wrong.

Litecoin's market cap = $68,152,758 usd

I know of people that hold 100,000+ coins

I can't find any decent stats on LTC. Is there a site like blockchain.info, but for LTC?

http://cryptochart.com/

http://bitcoindashboard.com/litecoins.php

http://ltc.block-explorer.com/charts

Here's a few good ones.

We have to look at the entire picture. I predict Litecoin doing what Bitcoin did but faster as Bitcoin has already blazed ahead of it, which should foster quicker adoption.

But moreso, Bitcoin will soon go beyond the reach of mere mortals and weekend traders. Mining is about to go insane with ASIC for BTC, also involving a large upfront investment to get a piece of. 2nd generation coiners have kinda missed the boat at this point unless you can jump right in with either high per Bitcoin cost or high investment in mining gear. But, there is Litecoin, a far cheaper alternative investment, and with ASIC driving GPUs and FPGAs out of Bitcoin, they will find a new home mining alternate currencies. As Bitcoin moves out of reach for average investors, attention will turn to Litecoin.

Essentially Litecoin is about where Bitcoin was 2 years ago. Bitcoin made a name for cryptocurrencies ahead of it, I think the progression of the markets will go through phases as accessibility shifts. We may see the other altcoins start gaining traction as well someday. Who knows, but it will be damn interesting to see what happens now.

One of the main arguments I found all over again was that "there should be only one Cryptocurrency."

And I always felt like I was hearing  "Well, who needs a Euro or Yen if we have a damn Dollar, come on!"

[YipYip]

Amazing how OP and many other naysayers proven wrong about LTC adoption.

Now go suck a cock and feel sorry for yourself and your lost opportunity to have bought litecoins 2 months ago at $0.07 and now they are worth $4 a piece.

LOL ROFL LAWL HAHA 

++ "GO SUCK A COCK" Golden ...

[wtfvanity]

when ASIC comes out,

everyone mining with a graphics card is going to switch to litecoin, but will not be as optimistic on litecoin and will sell the litecoins as they come in.
this will crash the litecoins and will present the best buying opportunity their ever was?

Just following up here, have ASIC's come out yet for BTC?

[digitalindustry]

20% likely....


m'yah......wats up doc

+1

hopefully KnC will see the light .

[Scott J]

when ASIC comes out,

everyone mining with a graphics card is going to switch to litecoin, but will not be as optimistic on litecoin and will sell the litecoins as they come in.
this will crash the litecoins and will present the best buying opportunity their ever was?

Just following up here, have ASIC's come out yet for BTC?

Not quite, 2 weeks or so...

[CoinHoarder]

when ASIC comes out,

everyone mining with a graphics card is going to switch to litecoin, but will not be as optimistic on litecoin and will sell the litecoins as they come in.
this will crash the litecoins and will present the best buying opportunity their ever was?

Just following up here, have ASIC's come out yet for BTC?

Is this a joke or have you been living under a rock? Visit the custom hardware subforum...

ASICs for Litecoin will not come for at least 1-2 years IMO. The price of LTC needs to support the cost of development.

[wtfvanity]

when ASIC comes out,

everyone mining with a graphics card is going to switch to litecoin, but will not be as optimistic on litecoin and will sell the litecoins as they come in.
this will crash the litecoins and will present the best buying opportunity their ever was?

Just following up here, have ASIC's come out yet for BTC?

Is this a joke or have you been living under a rock? Visit the custom hardware subforum...

ASICs for Litecoin will not come for at least 1-2 years IMO. The price of LTC needs to support the cost of development.

Did you read the post? It's saying, that when ASIC's come out (Which they hadn't really in Q1 this year) that everyone would rush to litecoin with their GPU's and crash litecoin.

I'm asking, sarcastically of course, did litecoin die because ASIC's came out for BTC?

[CoinHoarder]

Ah... i apologize. I suffered from a temporary lapse in reading comprehension. I understand now. And you are certainly correct. Anyone that thought bitcoin ASICs would kill Litecoin is um... (redacted). I was positive Litecoin would become popular as a new alternative for GPU mining and thus become more popular and valuable. That's part of the reason I was buying up used mining equipment around the bitcoin reward halving last year.

[Brunic]

when ASIC comes out,

everyone mining with a graphics card is going to switch to litecoin, but will not be as optimistic on litecoin and will sell the litecoins as they come in.
this will crash the litecoins and will present the best buying opportunity their ever was?

Just following up here, have ASIC's come out yet for BTC?

Hahaha, nice necro. There is some good stuff in that thread 

[BitCoinNutJob]

Same thing happened when BTC asics came out, we have a small dip and then the network is stronger for the increased computing power and the price went up shortly after.