[LTC] In ASIC era will Litecoin price rise or fall?

[malvino]

In the near ASIC era, when BTC GPU mining wouldn't be profitable, and most GPU miners will start mining LTC (that's my opinion), do you think that the LTC price would rise or fall?

[dazzle]

I think it will be the same case with bitcoins.. i hope mtgox opens up LTC as well.

[Joerii]

I think it will be the same case with bitcoins.. i hope mtgox opens up LTC as well.

The same case ? You mean it will rise at times and drop at other times ?

I don't see much reason for a change in price. LTC seems to really like to stay around .022 BTC, no matter what BTC does. What exactly causes this correlation is a not clear to me, perhaps it's simply because traders at BTC-e and Vircurex keep it at that level.

Let's say there will be three times as many LTC miners in the next two months. Difficulty will shoot up, but, as we know : the supply of LTC will stay the same. More people will suddenly have filled LTC wallets, but will there be more LTC hitting the exchanges ? That would drive the price lower.

What would *probably* really lift off the LTC price is when ( yes I say when, not if ) mtgox opens trade in it. People just love quickly buying a new coin the moment it becomes available. It's gonna be a mini-bubble.

Hard to predict, except I'm sure there will be a lot of exciting things happening soon. I'm afraid LTC will become so hard to mine that even if it'll hit 5 bucks again most miners will have a hard time breaking even.

[randrace]

I don't see much reason for a change in price. LTC seems to really like to stay around .022 BTC, no matter what BTC does. What exactly causes this correlation is a not clear to me, perhaps it's simply because traders at BTC-e and Vircurex keep it at that level.

I am fascinated with BTC/LTC trading. I watched LTC through that last crash and it held strong while BTC was tanking. It finally dropped, but after BTC was already sitting at it's bottom. LTC seems to be slowly gaining on BTC, moving from around .018 to as high as .026 lately. I wish I knew what forces are at play at BTC-e that are keeping LTC from going to .030 and beyond.
 

What would *probably* really lift off the LTC price is when ( yes I say when, not if ) mtgox opens trade in it. People just love quickly buying a new coin the moment it becomes available. It's gonna be a mini-bubble.

I can't wait to see what happens after Mt. Gox traffics in LTC. Based on what I'm seeing on EBay, I have a hunch people are interested in LTC.

[flound1129]

In the near ASIC era, when BTC GPU mining wouldn't be profitable, and most GPU miners will start mining LTC (that's my opinion), do you think that the LTC price would rise or fall?

It depends on what the utility of Litecoin is by then.  If it remains as an (almost) purely speculative coin, the value could go either way, depending on how many people are 'hoarding' and how many are trading immediately for bitcoin.

That said, Mt. Gox building a LTC exchange will itself drastically increase the utility of LTC as it will make inter-exchange arbitrage much easier.

[romerun]

I think it will be the same case with bitcoins.. i hope mtgox opens up LTC as well.

The same case ? You mean it will rise at times and drop at other times ?

I don't see much reason for a change in price. LTC seems to really like to stay around .022 BTC, no matter what BTC does. What exactly causes this correlation is a not clear to me, perhaps it's simply because traders at BTC-e and Vircurex keep it at that level.

Let's say there will be three times as many LTC miners in the next two months. Difficulty will shoot up, but, as we know : the supply of LTC will stay the same. More people will suddenly have filled LTC wallets, but will there be more LTC hitting the exchanges ? That would drive the price lower.

What would *probably* really lift off the LTC price is when ( yes I say when, not if ) mtgox opens trade in it. People just love quickly buying a new coin the moment it becomes available. It's gonna be a mini-bubble.

Hard to predict, except I'm sure there will be a lot of exciting things happening soon. I'm afraid LTC will become so hard to mine that even if it'll hit 5 bucks again most miners will have a hard time breaking even.

I'm not so sure about that. When ASIC raided btc recently, LTC difficulty jumped, priced jumped from 0.0022 to 0.01 or something before mtgox news.

LTC is gaining acceptance too. It's not just gox that can drive the price.

[exahash]

LTC price in USD will rise.  Price in BTC will rise but not as much.  LTC may reach .1-.15 BTC, but that's it.  Once we find a stable ratio of BTC to LTC, the USD price of LTC will move in lockstep with the USD price of LTC.

[metraque]

So, what do you think about now!? ASICS are not too far from today

[metraque]

/BUMP