LTC bagholders always amuse me. Remind me again why do we need LTC?
I'm as confused as you about Litecoin and I'm making (today anyway)
Litecoin Mining Calculator (can be used by anyone you don't have to be part of
www.litecoinpool.org to use this.
www.litecoinpool.org/calcHash rate: 1000 mh
Network Difficulty: 44270.49177962
Power usage: 4100 W Energy cost: 14c USD/kWh
Profitability Analysis
Expected Rewards Elec Costs Net Profit
24 hours 11.70043945 LTC 56.05 USD 13.78 USD 42.27 USD
7 days 81.90307617 LTC 392.32 USD 96.43 USD 295.88 USD
30 days 351.01318359 LTC 1681.35 USD 413.28 USD 1268.07 USD
Again just to establish my bona fides......I also have no clue on what LTC is doing most days.
My ASSUMPTION is that being a 'speculative coin' imho in the way it follows BTC at say around a 0.008 ltc to btc ratio
there is something about POW mining and LTC 'speculation' in relation to BTC that makes if very attractive and damn
hard to kill (or figure out). In other words...boring and predictable and stable is good in this wild crypto universe.
So using the Gold and Silver analogy....why even trade Silver etc if you can do the same with Gold. I think that applies
here. The folk who like to speculate and hold cryptocurrency find the 'boring' and somewhat 'predictable' aspects of
LTC quite 'calming' imho....no DEV drama.....it is about as consistent a coin as you can see IF my assumption is right
and it keeps its value and status as a speculator instrument with traders etc
and of course the FOUNDER is known....there is NO DEV drama.....ho hum..what you see is what you get more or less
Add to that (again imho) that most POW coins seem to be doing quite well for value and speculation. Such POW (proof
of work with miners) coins as BTC/LTC/ETH/DASH/etc etc
This also adds to the stability I mention above and gives folk trading and holding LTC some comfort. You could be
correct it could be a 'false comfort' (this is true of all crypto it could all go tulips) but with LTC we do have some
history to base this on.
Thus imho a successful coin should be 'tradeable' 'stable' 'pow based' (with new miner equip which now LTC has again with 14nm units coming out)
This may change with POS coin (proof of stake) where you BUY up front and don't mine....but so far...again imho...
POW coins seem to be the most successful with ehtereum being the latest example. (What this means when ETH
goes POS coin I've no clue)
Anyway LTC may NOT be a sleeping giant ..it may simply plug along 0.008 to 0.01 LTC to BTC for the foreseeable future
but it seems to have found a niche in being somewhat predictable in this crypto shifting landscape.
I've been pondering this since Nov 2014 when I got the orig Titan and the others. I only have mined LTC and only on
litecoinpool (see above link) and its a lot like churning butter...if you are consistent ..it seems to work just dandy.
I myself move LTC to BTC when it gets to above my 1000 LTC hoard. But again it may not be the Silver to Bitcoins
Gold....but it seems to have the usefulness and utility of Copper say. You don't really think about copper much but
it has its place.
Anyway 2 Satoshi's worth from someone who is doing quite well mining the stuff. An now with the new equipment
14nm A4's Dominator's coming out here this July/August I figure that LTC will do even better. No more talk of it
being a dead POW coin because no NEW POW equipment etc.
Indeed this should be a BOON to all scypt based POW coins imho...Especially LTC if as folk have said BTC hits and sits around
650 usd at 0.008 LTC to BTC that is 5.20 usd LTC. Well hell at that price you will see even more scrypt miners
being made 6 months down the line and let the rodeo begin again with difficulty rise on POW scrypt coins.
Anyway my take on this for what it is worth.
definitely the consistency of the coins somewhat explainable popularity plays a factor in why people continue to buy this coin, however with out new development its hard to understand what would be driving anyone new into LTC. Im curious if the Author of this post knows of something big that is about to happen or is just speculating
