Is this Litecoins first bubble?

[yoodles]

What does everyone think? Value has jumped dramatically over the past week and am curious on everyone's opinions.

Personally I think this is a bubble, the price increase is too dramatic for natural growth. It's caused by speculation and and everyone hoping it will be there next Btc investment. The first sign of trouble will cause a calamity of uncertainty and crash the same way Bitcoin experienced it's first bubble.  There is not enough liquidity or Ltc economy currently to support the large price rise. Regardless of what is in the works it is rising at too fast of a rate to support its growth. Ltc will not hit $3 before its crash.

Now please share your opinions and remember this is all my opinion, not a Ltc hater in fact I plan on buying 10k worth when it does pop.

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[Bit_Happy]

The Bitcoin wiki says Litecoin will eventually fail due to an attack on the relatively weak network.
Apparently a bunch of people don't know, or choose to ignore the warnings.

[m3whiteknight]

yeah I feel it will pop too, price raise too fast in a short time with no reason.

[yoodles]

yeah I feel it will pop too, price raise too fast in a short time with no reason.

Well there is reason, it is the increased speculation and the HUGE influx of miners leaving Btc and going to Ltc as it currently offers higher rewards at it was a much more untapped market.

Regarding security I've read that as well but only time will tell, I hope it can make it as a secondary to Btc but who knows what will happen. After investing with Btc for so long I'm no longer surprised at how quickly things can turn in a single hour.

[psybits]

The Bitcoin wiki says Litecoin will eventually fail due to an attack on the relatively weak network.
Apparently a bunch of people don't know, or choose to ignore the warnings.

Can you link to the article for me? Be interested to read it.

Peronally, my intuition tells me LTC is going to be as big as BTC, and eventually, one LTC will be worth 0.25 BTC

[yoodles]

https://en.bitcoin.it/wiki/Litecoin

[psybits]

The article doesn't mention a weak network.

Diversity is good - Bitcoin was first, yes but LTC also has a lot of potential 

[Bit_Happy]

The Vulnerability to mining monopoly has been edited, I was quoting the way it used to be.

The article doesn't mention a weak network.
....

This section is still the same; A pretty harsh way to describe your little brother:

 Pyramid Scheme

Since the aforementioned reasons mean Litecoin has no future potential, it effectively functions as a pyramid scheme, rewarding those who get in sooner at the expense of those who adopt it just before it finally fails (and are left with nothing). This is not the case for Bitcoin, since it has significant potential to become a long-term currency and continually be beneficial to adopters no matter when they begin using it.

^^^
How about someone edit that and see what happens? 

[foo]

Hm, look at Google Trends: http://www.google.com/trends/explore#q=litecoin&cmpt=q

Looks like something is happening... Also, all the interest seems to be from the US. The Russians haven't discovered Litecoin yet?

[neotrix]

Since the aforementioned reasons mean Litecoin has no future potential, it effectively functions as a pyramid scheme, rewarding those who get in sooner at the expense of those who adopt it just before it finally fails (and are left with nothing). This is not the case for Bitcoin, since it has significant potential to become a long-term currency and continually be beneficial to adopters no matter when they begin using it.

So litecoin is a scheme and Bitcoin isnt cause is a biggest market...wow what a statement...Ok let explain this to my small sister : Her reply " Ho but its still exactly same and if bitcoin is biggest market then the scheme is bigger with BTC?" My reply : " Yes but BTC have more lover and LTC have ore hater so he why we can read such debility..."

[EskimoBob]

LOL, this this wiki is managed by rabid btc fanatics. What did you expect? Honest and well written description of their biggest competition (for now)?
Screw that wiki. Its content is not what OP asked nor postulated.

LTC massive jump, while there is no new and useful services added, sure looks like a bubble. Same with BTC.
Comparing this to BTC first real bubble is probably a overstatement, unless you are not talking about the 2011 May-July happening.
If you compare it to 2011 Jan - Feb rally, you are probably correct. In this case, the really rally has not even started yet.

LTC and PPC must do everything to make fiat pairs more popular and become less dependent of LTC:BTC pair.
Why? Because this means there is more fresh fiat poring in directly to LTC and PPC "economy" and bypassing BTC.

I honestly hope that people stop talking about PPC and LTC as "new shiny internet currency" and market it as a fast, cheap and secure way to transfer fiat. Yes, it needs much better infrastructure (fiat -> LTC -> fiat) system we have right now.
If you have ever been on the merchants end of CC system (VISA, MC, etc), you know how slow and absurdly expensive those actually are. You also know what a nightmare foreign currencies are unless you live and do business in a country where inflation is high, more stable currencies are welcome at most shops.

Is it a bubble? I think this is just a prelude to a real bubble. But yes, at the moment we can call a bubble because it's driven by greed  and not by the real demand.

[smoothie]

LOL, this this wiki is managed by rabid btc fanatics. What did you expect? Honest and well written description of their biggest competition (for now)?
Screw that wiki. Its content is not what OP asked nor postulated.

LTC massive jump, while there is no new and useful services added, sure looks like a bubble. Same with BTC.
Comparing this to BTC first real bubble is probably a overstatement, unless you are not talking about the 2011 May-July happening.
If you compare it to 2011 Jan - Feb rally, you are probably correct. In this case, the really rally has not even started yet.

LTC and PPC must do everything to make fiat pairs more popular and become less dependent of LTC:BTC pair.
Why? Because this means there is more fresh fiat poring in directly to LTC and PPC "economy" and bypassing BTC.

I honestly hope that people stop talking about PPC and LTC as "new shiny internet currency" and market it as a fast, cheap and secure way to transfer fiat. Yes, it needs much better infrastructure (fiat -> LTC -> fiat) system we have right now.
If you have ever been on the merchants end of CC system (VISA, MC, etc), you know how slow and absurdly expensive those actually are. You also know what a nightmare foreign currencies are unless you live and do business in a country where inflation is high, more stable currencies are welcome at most shops.

Is it a bubble? I think this is just a prelude to a real bubble. But yes, at the moment we can call a bubble because it's driven by greed  and not by the real demand.

If you have been watching. LTC/USD on btc-e.com has had at least 3 consecutive days of over $150,000 volume in 24 hours.

[yoodles]

LOL, this this wiki is managed by rabid btc fanatics. What did you expect? Honest and well written description of their biggest competition (for now)?
Screw that wiki. Its content is not what OP asked nor postulated.

LTC massive jump, while there is no new and useful services added, sure looks like a bubble. Same with BTC.
Comparing this to BTC first real bubble is probably a overstatement, unless you are not talking about the 2011 May-July happening.
If you compare it to 2011 Jan - Feb rally, you are probably correct. In this case, the really rally has not even started yet.

LTC and PPC must do everything to make fiat pairs more popular and become less dependent of LTC:BTC pair.
Why? Because this means there is more fresh fiat poring in directly to LTC and PPC "economy" and bypassing BTC.

I honestly hope that people stop talking about PPC and LTC as "new shiny internet currency" and market it as a fast, cheap and secure way to transfer fiat. Yes, it needs much better infrastructure (fiat -> LTC -> fiat) system we have right now.
If you have ever been on the merchants end of CC system (VISA, MC, etc), you know how slow and absurdly expensive those actually are. You also know what a nightmare foreign currencies are unless you live and do business in a country where inflation is high, more stable currencies are welcome at most shops.

Is it a bubble? I think this is just a prelude to a real bubble. But yes, at the moment we can call a bubble because it's driven by greed  and not by the real demand.

If you have been watching. LTC/USD on btc-e.com has had at least 3 consecutive days of over $150,000 volume in 24 hours.

Yes but it is driven not by demand of a product or service, but as an "investment" with no real liquidity

[Puppet]

The Vulnerability to mining monopoly has been edited, I was quoting the way it used to be.

The article doesn't mention a weak network.
....

This section is still the same; A pretty harsh way to describe your little brother:

 Pyramid Scheme

Since the aforementioned reasons mean Litecoin has no future potential, it effectively functions as a pyramid scheme, rewarding those who get in sooner at the expense of those who adopt it just before it finally fails (and are left with nothing). This is not the case for Bitcoin, since it has significant potential to become a long-term currency and continually be beneficial to adopters no matter when they begin using it.

^^^
How about someone edit that and see what happens? 

I dont believe in LTC, but that wiki paragraph should be edited or removed. You could make the exact same argument against BTC to call it a ponzi scheme;  That bitcoin has "significant potential" whereas LTC might not, regardless of its merrits, is not how you disprove a ponzi. LTC might be grossly overvalued, its no more  a ponzi than BTC is.

[romerun]

more interesting question is what would be the price when LTC pops

[samson]

more interesting question is what would be the price when LTC pops

This is the golden question, I sold about 10,000 LTC last night and I'm waiting for a correction right now.

If this correction doesn't come which I think is unlikely then it's very good for LTC.

It was also interesting to see some movement on PPCoin.

[Arbitrageur]

Personally, my intuition tells me LTC is going to be as big as BTC, and eventually, one LTC will be worth 0.25 BTC

[Liquid]

All i have to say is LTC & BTC forever 

[DrG]

Dive Dive Dive....


Too low, pull up.  Too low, pull up.



LTCs first big rollercoaster

[EskimoBob]

Personally, my intuition tells me LTC is going to be as big as BTC, and eventually, one LTC will be worth 0.25 BTC

Or 1 BTC is worth 25 LTC

What I really like about LTC and PPC developers is that they question almost everything that BTC crowd tends to heralds as absolute truth.
Last temporary fork fiasco is a good lesson to all the coins out here. Huge transaction spam and absurdly bloated block chain are also not strengths either.
I reckon PPC and LTC have thought about it and working to resolve this as early as possible.
What about huge energy demands to keep BTC functioning properly? How many nuclear power plants are needed? 1? 5? 10? 
Best thing anyone can do now, is develop real life uses for all the coins. Brainstorm (but first make sure you actually know how to do it correctly!)