Is Litecoin really really cheap right now? Or is it dying?

[nethead]

I do not want to spend bitcoins until they get to where they are going, which should certainly be hundred of dollars per coin and hopefully more like thousands per coin by the time they reach any kind of reasonable plateau. Thus is makes a lot of sense to me to have other coins so one one has something to spend that doesn't involve selling off any of one's currently insanely-undervalued bitcoins.

But markm, if everyone just hoards the coins w/o using them they will have no value. Imagine everyone that uses bitcoins, suddently stop and wait for the miracle value.. Litecoin did this mistake, and actually if what you said happens noone will be interested in bitcoin anymore

(while sr exists this will never happen thou, lol)

[markm]

(while sr exists this will never happen thou, lol)

[El Cabron]

litecoin is much more developed than btc was in its first 1 and a few months... at this rate...

[nethead]

litecoin is much more developed than btc was in its first 1 and a few months... at this rate...

sure, coz bitcoin hadnt ready code to "borrow" from, developed from 0
Litecoin also doesnt have nothing that is its own "borrowed bitcoin code, borrowed scrypt, voila, LITECOIN"
(That describes every altcoin in existance today)

(while sr exists this will never happen thou, lol)

Yeah i think it wasnt hidden, what you wanna say with that quote? (failed to derail)
If you dont accept it you are a subhuman lol

[dust]

I do not want to spend bitcoins until they get to where they are going, which should certainly be hundreds of dollars per coin and hopefully more like thousands per coin by the time they reach any kind of reasonable plateau. Thus it makes a lot of sense to me to have other coins so one one has something to spend that doesn't involve selling off any of one's currently insanely-undervalued bitcoins.

This is illogical.  Instead of holding any altcoins, why not hold all "insanely-undervalued" bitcoins, and spend them when necessary.  What businesses accept altcoins but not bitcoins?

Some people have found altcoins particularly useful as things they can borrow, using their bitcoins as collateral, to buy more bitcoins.

I fail to see how this leads to borrowers acquiring more bitcoins without exposing lenders to even higher risks.

[markm]

Some people have found altcoins particularly useful as things they can borrow, using their bitcoins as collateral, to buy more bitcoins.

I fail to see how this leads to borrowers acquiring more bitcoins without exposing lenders to even higher risks.

The borrowers are shorting the coin they borrow. If they want their collateral back, they are going to need some of that same altcoin they borrowed, to exercise their option on the collateral, aka to get their collateral back.

The main risk to the lender is that the shorting of the altcoin will drive down the value of the altcoin.

Some lenders see this kind of lending as a chance to buy cheap altcoins themselves. They can buy what the borrower sells plus if the lender wants the collateral back they also get the same amount of altcoin back plus the option premium.

I don't see a big problem with the system, what is this worrisome risk you think the seller of the option is taking on?

-MarkM-

[Prattler]

No one can take away your litecoins or forbid you to use them. The value is completely another matter though. At the current price levels, litecoin system issues $60,000 value of new coins per month.

Do people trust litecoin so much that they'll pay $60,000/month? Maybe... But I'm selling.

[beekeeper]

Let's rephrase your question: "If Bitcoin provides all the functionality that people need right now, how can another currency provide usefulness?"

There is one function which Bitcoin will provide less after ASICs mass deployed - decentralization - which LTC is still able to provide.

[maxcarjuzaa]

The number of answers in this post shows how interesting ltc is. Check google trends, compare ltc to othe alts and you will  be surprised. I follow ltc very close and the low price right now is due to a number of factors.

1 Delay in ASIC. People was expecting btc gpu mining to become unprofitable before the block reeard halves.

2 Big hoarder selling tons of ltc. More than 300k.inthe las 2 weeks Some people said that is someone pumping NVC

3 BTC rally. People selling ltc for btc.

Price will go up because:

1 is the alt coin with the biggest user base.

2 Clean launch and honest developer.

3 gpu miners will need another coin to mine in a few months.

4 few merchants allready accepting it.

5 payment gateway in develpment.

6 lot of fans.

7 no bad reputation, no SR or scams.(yeat)

And is not so cheap as people thinks. I bought ltc  like 1 year ago at usd0.005 now  near  0.07.


I am still buying and working in projects related to LTC.

[Liquid]

LTC is 2nd in my book with BTC being first i think everyone's focus right now is on Novacoin just for profits though nothing backing the coin at least with litecoin you can hold shares in  

Litcoin is not dying its living though the tough times 

[interlagos]

Litecoin was at the lowest (~ 0.0005 BTC) in February 2012, now it's February 2013 and we see a similar decline (though the absolute numbers are quite a bit higher). It probably has something to do with its natural cycle of evolution. Seems like a good time to buy.

And if you look at the text in the genesis block, you will see that the spirit of Steve Jobs himself is protecting this altchain, so I wouldn't worry too much about its long-term strength and vitality.

[El Cabron]

Litecoin was at the lowest (~ 0.0005 BTC) in February 2012, now it's February 2013 and we see a similar decline (though the absolute numbers are quite a bit higher). It probably has something to do with its natural cycle of evolution. Seems like a good time to buy.

And if you look at the text in the genesis block, you will see that the spirit of Steve Jobs himself is protecting this altchain, so I wouldn't worry too much about its long-term strength and vitality.

up 400% in terms of btc in a year. not bad eh?

i could see this happening again honestly.

[Simran]

USD provides all the functions that people need right now, so how can Euros provide usefulness?

LOL...You're saying that Bitcoin is to US Dollars what LiteCoin is to the Euro? That's a totally incorrect comparison. If you want to be accurate, you can say that Bitcoin is like Tiffani Amber Thiessen and Litecoin is like Dustin Diamond.

Your comparison was no where near the intelligence level that I'm on. Comparing the coins to people is fucking retarded and stupid, no need to spit some factual bars when you're not ignorant and have realized that Litecoin provides more usefulness than Bitcoin, but your dumb and old ass is in denial. Not even going to try to argue with you but insult because I know changing old fucks like you is pointless. It's alright though, I give it a couple of years when Litecoin is thriving and your old ass is on verge of leaving this world.

--Simran

[kokojie]

As someone who accepts zero confirmation transactions, I'm not really sold on the faster block rate being the killer app. For a similar level of security, you still need to wait for confirmations and with them coming so fast, you need to wait for more of them. I'm not exactly sure of the math but I think security is proporional to total hashes burying a block. A finney attack on LTC is still way cheaper than on BTC so maybe I'd trust $5 worth to a zero confirmation, $20 to 1 confirmatino. For Bitcoin I'd go $50-100 for zero confirmation and double that for 1 confirmation.

Nope that's completely false, the only thing that matters securitywise is the # of confirmations, not how fast. 6 confirmations in LTC is just as secure as 6 confirmations in BTC. If you don't believe it, try a double spend attack with a 2 confirmation LTC transaction (BTC would have 0 confirmation at this point), and see how far that gets you.

[nameface]

I think of LTC as a giant bitcoin mixer. What is more anonymous than leaving the bitcoin chain altogether and mixing your coins in the litecoin chain then returning to bitcoin ?

Ill put it another way. If everyone with a bank account buys and sells bitcoins its a lot easier to track people and perform network analysis whereas a chain that has few traditional banking exit points is a lot more difficult.

+1 There've gotta be SOME uses for LTC.

[K.A.T]

LTC at the end can b sold for BTC. So there's still some value.

[nameface]

USD provides all the functions that people need right now, so how can Euros provide usefulness?

LOL...You're saying that Bitcoin is to US Dollars what LiteCoin is to the Euro? That's a totally incorrect comparison. If you want to be accurate, you can say that Bitcoin is like Tiffani Amber Thiessen and Litecoin is like Dustin Diamond.

Your comparison was no where near the intelligence level that I'm on. Comparing the coins to people is fucking retarded and stupid, no need to spit some factual bars when you're not ignorant and have realized that Litecoin provides more usefulness than Bitcoin, but your dumb and old ass is in denial. Not even going to try to argue with you but insult because I know changing old fucks like you is pointless. It's alright though, I give it a couple of years when Litecoin is thriving and your old ass is on verge of leaving this world.

--Simran

WHOOOOA Harsh.

Honestly, I think it's a good comparison. Though it doesn't help me much because I'm a bigtime Dustin Diamond bull at the moment.

[misterbigg]

...when you're not ignorant and have realized that Litecoin provides more usefulness than Bitcoin, but your dumb and old ass is in denial.

Apparently, the whole world is in denial and you're a special beautiful snowflake who has discovered a treasure and now you're waiting for the rest of society to catch up:

[nameface]

As someone who accepts zero confirmation transactions, I'm not really sold on the faster block rate being the killer app. For a similar level of security, you still need to wait for confirmations and with them coming so fast, you need to wait for more of them. I'm not exactly sure of the math but I think security is proporional to total hashes burying a block. A finney attack on LTC is still way cheaper than on BTC so maybe I'd trust $5 worth to a zero confirmation, $20 to 1 confirmatino. For Bitcoin I'd go $50-100 for zero confirmation and double that for 1 confirmation.

Nope that's completely false, the only thing that matters securitywise is the # of confirmations, not how fast. 6 confirmations in LTC is just as secure as 6 confirmations in BTC. If you don't believe it, try a double spend attack with a 2 confirmation LTC transaction (BTC would have 0 confirmation at this point), and see how far that gets you.

I buy into this. Fast confirmations is a huge.

[nameface]

My guess is that there's room for at least a few more similar competing currencies to thrive, re: LTC is silver to BTC as gold.

Litecoin is crap.

Are there any alt cryptos that aren't?