LTC Crashing - How low will it go?

[bitcool]

My guess is price will stabilize at ~$0.35, and I believe litecoin will continue to be worth in between 100:1 and 200:1 the price of BTC long term, so $0.35 - $0.70 currently. Litecoin has the same potential as bitcoin, but with more volatility (re: relationship is a bit like silver and gold).

Just trying to understand: the numbers in your "guess" were based on mining profitability? why 100~200, not 200~500, or 10~50?

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[nameface]

My guess is price will stabilize at ~$0.35, and I believe litecoin will continue to be worth in between 100:1 and 200:1 the price of BTC long term, so $0.35 - $0.70 currently. Litecoin has the same potential as bitcoin, but with more volatility (re: relationship is a bit like silver and gold).

Just trying to understand: the numbers in your "guess" were based on mining profitability? why 100~200, not 200~500, or 10~50?

I'm thinking about the USD/BTC/LTC relationship and the mood of the investors and traders.

If something goes out of whack in the price (like the recent explosion of LTC price) then the mining profitability goes crazy too and may adversely impact the price, but over time as the network grows I doubt this will be as big an issue. Anyways, I don't know much about mining.

[mr_random]

Litecoin isn't that different now from bitcoin when it was 40 cents.

I call b.s. on that. Litecoin is a bitcoin clone. It's a back up coin. I bet even litecoin dev traded in their LTC for BTC amidst the $0.70 stupidness. Mining profitability was too high with LTC over $0.50, I bet miners were trading right away for bitcoin and fiat.

You misunderstand, I meant in terms of the price graphs and it's volatile behaviour.

[nameface]

I meant in terms of the price graphs and it's volatile behaviour.

Ah Ok

[Anon136]

after the fork the 3 major alts kind of just went nutty. They are now slowly coming back down to there they should be.

Litecoin was around 0.5 before the hard fork.

While bitcoin is at least getting more popular and more useful in the world, the alts have mostly remained the same speculative coins that they always have been.

You can buy plenty of goods and services with Litecoins now. There's even a Litecoin version of Silkroad called Atlantis. Litecoin is no more 'speculative' now than Bitcoin was when it was the 50 cents.

you certainly wouldnt want to use this atlantis service with out a mixer, so does this mean there is a litecoin mixing service also?

[meanig]

The age old arguments of 'it's a purely speculative investment you can't buy or do anything with litecoins' isn't even true anymore. Litecoin isn't that different now from bitcoin when it was 40 cents.

The first time bitcoin hit 40 cents Satoshi was still around and Wikileaks had just started accepting bitcoin donations.

What kind of inspirational visionaries does the Litecoin community possess at the moment and I have I missed the announcement about a well know international subversive group accepting donations via Litecoin?
 

[nameface]

The age old arguments of 'it's a purely speculative investment you can't buy or do anything with litecoins' isn't even true anymore. Litecoin isn't that different now from bitcoin when it was 40 cents.

The first time bitcoin hit 40 cents Satoshi was still around and Wikileaks had just started accepting bitcoin donations.

What kind of inspirational visionaries does the Litecoin community possess at the moment and I have I missed the announcement about a well know international subversive group accepting donations via Litecoin?
 

I hear you. But we've got to keep the context clear here. A lot of people compare Litecoin to Bitcoin and point out how much more established and awesome Bitcoin is. But the truth is that Litecoin isn't trying to be Bitcoin, Litecoin exists to be a second coin for whatever a second coin may be useful for. It doesn't have to measure up to Bitcoin to be of value.

[SRoulette]

unfortunately many new LTC users took the bait and bought heavily at 70c due to being assured  that they would see $1 next week.

This simply isn't true. It wasn't even at 0.7 for that long.

It is factually true, perhaps your experience is different but unfortunately many newcomers to LTC were taken for a good ride at their expense. 

[bitcool]

but unfortunately many newcomers to LTC were taken for a good ride at their expense. 

Wasn't it the same experience two years ago, for then BTC newcomers when it spiked to $35?

[nameface]

unfortunately many new LTC users took the bait and bought heavily at 70c due to being assured  that they would see $1 next week.

This simply isn't true. It wasn't even at 0.7 for that long.

It is factually true, perhaps your experience is different but unfortunately many newcomers to LTC were taken for a good ride at their expense.  

Geedy newcomers complain because they watched LTC go from $0.05 to $0.70, they jumped in late, and it dropped back some to $0.50. Now they won't shut up about it... They are the ones making the market go berserk!
Ppl need to understand that it's the market that decides what a litecoin is worth, not the miners, not some guru, just the market... could be $0.50 in a week, could be $2, could be ZERO.
*disclaimer, I do think some of the early adopters and bigtime miners dumped a ton of LTC when the price high, causing it to plummet, but I think that phenomenon has waned, and I don't think it was intentional market manipulation, it's just people over-invested in LTC, or they needed fiat.

[MaGNeT]

LiteCoin will come back, bigger.

ASIC's will push GPU miners to LTC.

So price will go up in 5-6 months and I keep hoarding them.
Try to buy 1 to 2k LTC every month, until ASIC's are big.

[wizzardTim]

LiteCoin will come back, bigger.

ASIC's will push GPU miners to LTC.

So price will go up in 5-6 months and I keep hoarding them.
Try to buy 1 to 2k LTC every month, until ASIC's are big.

i think you're headed to the right direction... wish i had more money to buy more..

[jaywaka2713]

Litecoin isn't crashing. It's still too closely related to Bitcoin's value. It isn't "strong" enough to be able to fluctuate its value on its own. As Bitcoin's value increases, Litecoin's BTC/LTC value decreases. Since Bitcoin has seen a recent large increase in value, that BTC/LTC value has decreased proportionally. Since the drop of that exchange value has been so large, low experience traders with low or no economic background see this as Litecoin losing value, without regarding the fact that Litecoin continues to follow Bitcoin. Because of this large fall, the LTC/USD rate fell as well. The LTC/USD rate is reflexive with people's faith in Litecoin. Once Litecoin becomes its own currency, my points here become invalid. But for as of now, these points stay intact.

[SRoulette]

Just commenting to say we very glad to see litecoin holding its price around 50c