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Author Topic: LTC up to $1  (Read 7633 times)
msweb
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February 03, 2013, 04:48:32 AM
 #1

I (and I think a lot of other litecoin believers) would like to see a value increase for litecoins contains to USD over time. Up to USD 1.- would be nice. Now I want to talk about the ways to go there. I'm aware of pumps are mostly followed by dumps, so that may isn't the way to go as long as the most people involved actually don't believe in LTCs long term success. Market grow through more services and businesses using it may also be very hard because most will prefer BTC if any decentralized commodity/currency at all. Anyone has some great ideas to achieve a long term success?

Next development steps to go (I'm working on the designs):
1. A decentralized cryptoexchange protocol
2. A cryptocoin with a fix USD/Coin rate
A blockchain platform for effective freelancing
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February 03, 2013, 05:00:06 AM
 #2

I (and I think a lot of other litecoin believers) would like to see a value increase for litecoins contains to USD over time. Up to USD 1.- would be nice. Now I want to talk about the ways to go there. I'm aware of pumps are mostly followed by dumps, so that may isn't the way to go as long as the most people involved actually don't believe in LTCs long term success. Market grow through more services and businesses using it may also be very hard because most will prefer BTC if any decentralized commodity/currency at all. Anyone has some great ideas to achieve a long term success?

+1

I hope to see it go to $1 but i have no idea on how to do it  Sad

So after 840,000 blocks the reward will half would this help ...

I certainly have confidence in Litecoin and would like to see its long term success  Smiley

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February 03, 2013, 08:09:32 AM
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We have to wait for mainstream adoption of ASICs for BTC mining. After that many of the GPU miners would want to get into LTC.

Looking to review Bitcoin / Crypto mining Hardware.
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February 03, 2013, 08:20:50 AM
 #4

if bitpay integrated it, then suddenly tons of sites including Wordpress would be accepting LTC.
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February 03, 2013, 08:25:31 AM
 #5

if bitpay integrated it, then suddenly tons of sites including Wordpress would be accepting LTC.


If anyone created a payment processor that accepts LTC in exchange for fiat into a merchant's bank account Litecoin would be no longer "just another alt coin".


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ThaddeusB
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February 03, 2013, 08:25:52 AM
 #6

Vendor acceptance is the only way to increase real value.  Anything else you can imagine is just a form of speculative bubble that will eventually pop.
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February 03, 2013, 08:08:46 PM
 #7

Or convince SilkRoad merchants to accept it! lol  (kidding of course, I'd rather see LTC succeed on its own - which I think it can)

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February 03, 2013, 10:42:06 PM
 #8

The market isn't really deep enough for someone like bitpay to accept it. Bitpay works by immediately selling on the exchanges the BTC you send to them for FIAT and then sending that fiat to the bank account of merchants the next day.

You can only trade LTC for USD at one exchange (BTC-e) and there is only about 3-4K USD of buy orders, most of which are at ridiculously low prices. If bitpay would accept LTC it would destroy the value after a couple purchases. Two people buy laptops with LTC at reasonable prices, and then bitpay would be quoting hundres of thousands of LTC for a laptop just to fill the last buy orders on the LTC/USD chart.

Wouldn't work. :-(

more or less retired.
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February 03, 2013, 10:47:16 PM
 #9

The market isn't really deep enough for someone like bitpay to accept it. Bitpay works by immediately selling on the exchanges the BTC you send to them for FIAT and then sending that fiat to the bank account of merchants the next day.

You can only trade LTC for USD at one exchange (BTC-e) and there is only about 3-4K USD of buy orders, most of which are at ridiculously low prices. If bitpay would accept LTC it would destroy the value after a couple purchases. Two people buy laptops with LTC at reasonable prices, and then bitpay would be quoting hundres of thousands of LTC for a laptop just to fill the last buy orders on the LTC/USD chart.

Wouldn't work. :-(

If you did your research you would know that the daily average (over the past 6 months)of LTC/BTC volume measured in fiat ($) is about $20,000. The LTC/USD average is about $5000 daily.

That is $25,000 that trades hands each day.

Putting in sell orders through out the day for a payment processor to cash out isn't that impossible.

If a payment processor accepted LTC and merchants came online selling say electronics for LTC, LTC price would go much higher than $0.07 each.

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February 04, 2013, 01:19:37 AM
 #10

if bitpay integrated it, then suddenly tons of sites including Wordpress would be accepting LTC.


If anyone created a payment processor that accepts LTC in exchange for fiat into a merchant's bank account Litecoin would be no longer "just another alt coin".



You might just see that happening very shortly within the next 2 weeks or less. Stay tuned for more updates. Cant give any more spoilers that that, other than stay tuned for this u'll see some posts made by myself and others guaranteed. When it is ready it will be posted here and many other places.

Edited. Reason      Boss man allowed to give some details

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February 04, 2013, 01:21:42 AM
 #11

meanwhile in the UK
https://bitbargain.co.uk/buy?thing=LTC

and when the lil stash of FIAT grows from selling for fiat, the tide will change grabbing LTC from anyone to put into their bank account.

its happening. watch this space

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February 04, 2013, 01:30:12 AM
 #12

meanwhile in the UK
https://bitbargain.co.uk/buy?thing=LTC

and when the lil stash of FIAT grows from selling for fiat, the tide will change grabbing LTC from anyone to put into their bank account.

its happening. watch this space

So this is a 3rd party escrow for payments?

I don't get it.

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February 04, 2013, 01:35:56 AM
 #13

just pointing out methods where some are getting LTC for cash.

next is cash for LTC

patience

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February 04, 2013, 08:21:54 AM
 #14

just pointing out methods where some are getting LTC for cash.

next is cash for LTC

patience


Yer but you should have Buying Litecoins as the title  Tongue

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February 04, 2013, 09:50:18 AM
 #15

just pointing out methods where some are getting LTC for cash.

next is cash for LTC

patience


Yer but you should have Buying Litecoins as the title  Tongue

i never made the subject title of this thread. i just 'hinted' at projects happening. which relates to other posts.

now to answer the original posters question. how to get litecoin price to naturally increase. (valued pricing)
1 no pump and dump (speculated/manipulated pricing)
2. network difficulty increase would cause more costs to miners (electric vs time) so they would sell their coins at higher prices to break even/make profit. (value backed pricing)
3. to have an easy way for random customers to buy litecoins using fiat. without the reliance of getting bitcoin first * hint hint * increasing the userbase
4. having infrastructure inplace such as hotwallets, bitpays, etc to allow merchants to accept litecoins in exchange for fiat. * hint hint *

some projects seem cryptic and secretive as they do not want to create hype (pumps and dumps) before anything is actually available.

even bitcoin projects such as new services bitinstant want to release are hidden in a shrowd of secrecy untill they are released, to avoid prolems, hype and many other things.
be patient litecoin is under 15 months old, bitcoins value at the same age was under $1 also.

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February 04, 2013, 10:05:12 AM
 #16

4. having infrastructure inplace such as hotwallets, bitpays, etc to allow merchants to accept litecoins in exchange for fiat. * hint hint *

http://forum.litecoin.net//index.php/topic,1139.0.html

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February 04, 2013, 02:51:58 PM
 #17

Quote

be patient litecoin is under 15 months old, bitcoins value at the same age was under $1 also.


even under 10 cent
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February 04, 2013, 04:33:06 PM
 #18

Patiently waiting..... and mining Smiley

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February 04, 2013, 05:33:41 PM
 #19

It'd be nice; currently LTC is more stable than BTC and is beginning an upward trend

http://www.ltc-charts.com/period-charts.php?period=6-months&resolution=day&pair=ltc-usd&market=btc-e

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February 04, 2013, 09:31:30 PM
 #20

Vendor acceptance is the only way to increase real value.  Anything else you can imagine is just a form of speculative bubble that will eventually pop.

+10

I'll be accepting LTC when we open the shop. It's only to promote the idea of LTC, because I am probably the only person around her, who has even heard of litecoin (or any other bitcoin-like value transfer systems)


While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
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