I think LTC will be dropped once ASIC's hit as one ASIC will have clearly more than 51% of the LTC network if just one ASIC pointed at the LTC network.. everyone should just stop mining it right now, sell all your LTC as the price is clearly inflated... SHA256 is the only true crypto currency hashing algorithm
In all seriousness though.. I think we have seen a small sample of what is to come....
basically I see it like this, Bitcoin was first and experimental currency, real speculation etc not sure if it will take off, hold value etc and was adopted by a niche group of people willing to make something of it and give it a go. Now that that has been a success people are complaining that they are not early BTC adopters and that they are being pushed out of the possibility of mining coins as the ASIC's on there way and making GPU mining unreasonable. I am currently telling all my friends that are coming to me and going "oh i see your butcoins have been a success, wish I had listened and just used my gaming GPU for mining when I wasn't gaming back at the start" my responce being.. well its not too late to still be an early adopter, LTC is currently undervalued and relatively easy to mine (but this changing fast) so jump in there and get urself some coins... if they are not a gamer then I advise them to buy some LTC from someone or trade BTC for LTC and hold that as the price will be rising just like bitcoins has in the years to come.
So LTC is gaining the interest of "outsiders" and new folk wanting to get involved but feel they have missed the BTC train or do not have enough money to buy into BTC at the moment, but have some hardware lying around, the more BTC succeeds, the more all the alt currencies succeed.... except for BBQCoin ( as that all based on the weather as you can't have a BBQ in the rain!) ... actually good point here....
I think we will see a number of GFX cards requiring repairs and being burnt out this summer as LTC mining is more intensive and runs at higher temperatures, those used to BTC mining will be aware of the cooling needed for mining that coin, but the new temperatures?? and if my other theory true that a lot of new GFX miners will come into the game then these new folks better keep an eye on their GPU temps and specs... not worth overclocking for little more hashrate and burning out ur hardware on those hot summer. You have been warned!!
