Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[chrsjrcj]

China trying to get back over $900. C'mon round two!

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[revans]

LTC is the largest threat to crypto. If it wins, everyone loses.  Not even jokin' mang. It needs to crash. Not I want but we need.

If you want to see how irrational people who claim to be "rational" can be, just find yourself a litecoin user. They gain no benefit from using litecoin except providing some funding to BTC-E in ways of fees and give the public and investors a reason to be skeptical.
It used to me that we could laugh off queries about why someone couldn't just make up a new coin that would make theirs worth less. We'd laugh and say "because people aren't so stupid as to actively ruin their own investments!" Our laughter is a lot more nervous now. Turns out people are so stupid.
The only possible goal of litecoin is to make all cryptocurrency worth nothing in the long term.

You wanted your free market in currencies...now choke on it.

[mccorvic]

lol at all the ltc hate

Nervous laughter, remember.


because it turns out to be that people are that stupid

You wanted your free market in currencies...now choke on it.

Sure buddy, whatever you say.

[beetcoin]

man, i made a deposit for BTC on saturday so i could buy some litecoin.. it was trading for $9. i have to wait until december to get my BTC.

every day is a roller coaster ride when you play the game of bitcoin.

[KFR]

lol at all the ltc hate

Indeed.  I find the anti-LTC FUD to be most odd.  The differences in architecture are important and more than enough to justify its existence alongside BTC.  Scrypt may prove a wiser choice than SHA-256 in the longterm; it may not.  Point being none of us really know right now and ruling LTC out as just another 'also-ran' would be quite unwise IMHO.

[revans]

LTC is the largest threat to crypto. If it wins, everyone loses.  Not even jokin' mang. It needs to crash. Not I want but we need.

If you want to see how irrational people who claim to be "rational" can be, just find yourself a litecoin user. They gain no benefit from using litecoin except providing some funding to BTC-E in ways of fees and give the public and investors a reason to be skeptical.
It used to me that we could laugh off queries about why someone couldn't just make up a new coin that would make theirs worth less. We'd laugh and say "because people aren't so stupid as to actively ruin their own investments!" Our laughter is a lot more nervous now. Turns out people are so stupid.
The only possible goal of litecoin is to make all cryptocurrency worth nothing in the long term.

Hey man, it's a free market remember. Surely you support competition, competing currencies give more choice, and we all know how you libertarian types like choice. Why can't Litecoin users, or the users of the 5000 cryptocurrencies there will probably be in a few years, be allowed to magic value from thin air just like Bitcoin users?

[zero3112]

Its very obvious at this point that BTC is back in a upwards trend.

Do I have to repeat myself no one believed my post earlier and it wasn't posted that long ago.

[ArticMine]

lol at all the ltc hate

LTC is silver to BTC gold. I would expect LTC to perform over time with respect to BTC in a manner similar to that of silver with respect to gold.

[byronbb]

lol at all the ltc hate

Indeed.  I find the anti-LTC FUD to be most odd.  The differences in architecture are important and more than enough to justify its existence alongside BTC.  Scrypt may prove a wiser choice than SHA-256 in the longterm; it may not.  Point being none of us really know right now and ruling LTC out as just another 'also-ran' would be quite unwise IMHO.

LTC seems like a cheap copy where the creator has been able to benefit immeasurably off the back of genius. That said, I agree with your sentiment. Any opinion on weighting LTC to BTC holdings?

[beetcoin]

just a few months ago, LTC was trading at 6 cents per litecoin.. while BTC was 100+. LTC has exponentially multiplied, probably based on speculation.. but still. i was going to buy $100 worth but got too lazy to make a purchase.. i really, really regret it now. but what can i do? life goes on. argh, i would have 1666 coins now.

[ArticMine]

just a few months ago, LTC was trading at 6 cents per litecoin.. while BTC was 100+. LTC has exponentially multiplied, probably based on speculation.. but still. i was going to buy $100 worth but got too lazy to make a purchase.. i really, really regret it now. but what can i do? life goes on. argh, i would have 1666 coins now.

LTC in terms of BTC over time. http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=ltc-btc&market=btc-e

[KieranJones1]

Maybe one of the reasons people are so keen for mBTC to be adopted as the "industry standard" is that they're scared Litecoin is too attractively priced.

[TheKoziTwo]

LTC is the largest threat to crypto. If it wins, everyone loses.  Not even jokin' mang. It needs to crash. Not I want but we need.

If you want to see how irrational people who claim to be "rational" can be, just find yourself a litecoin user. They gain no benefit from using litecoin except providing some funding to BTC-E in ways of fees and give the public and investors a reason to be skeptical.
It used to me that we could laugh off queries about why someone couldn't just make up a new coin that would make theirs worth less. We'd laugh and say "because people aren't so stupid as to actively ruin their own investments!" Our laughter is a lot more nervous now. Turns out people are so stupid.
The only possible goal of litecoin is to make all cryptocurrency worth nothing in the long term.

I keep seeing tards asking "when will 4 LTC = 1 BTC" thinking it's inevitable because there are 4 times as many LTC. Well, what they don't seem to realize is that if this happens both LTC and BTC will be worthless because long before this becomes a reality it will be clear to everyone that bitcoin can be inflated thus invalidating the limited supply and paving way for unlimited other currencies to be included (and unlimited inflation).

I don't think this will happen though, there is very little support for LTC and other alternative currencies beyond wild speculation. Also if anything new significant comes out, bitcoiners have vested interest in adopting those features into bitcoin.

[KFR]

LTC seems like a cheap copy where the creator has been able to benefit immeasurably off the back of genius. That said, I agree with your sentiment. Any opinion on weighting LTC to BTC holdings?

Most alt-coins are nonsense.  Some innovations/differences however are smarter than many tend to give them credit for.  In answer to your question, based on an even hedge, medium term: heavy on the BTC; long term: heavy on the LTC.  Keep a close eye on the mining situation and be ready to shift position as necessary.  

[revans]

Maybe one of the reasons people are so keen for mBTC to be adopted as the "industry standard" is that they're scared Litecoin is too attractively priced.

Yes it's almost as if people who claim to believe in free markets and competition actually don't

[byronbb]

LTC seems like a cheap copy where the creator has been able to benefit immeasurably off the back of genius. That said, I agree with your sentiment. Any opinion on weighting LTC to BTC holdings?

Most alt-coins are nonsense.  Some innovations/differences however are smarter than many tend to give them credit for.  In answer to your question, based on an even hedge, medium term: heavy on the BTC; long term: heavy on the LTC.  Keep a close eye on the mining situation and be ready to shift position as necessary.  

"The mining situation" meaning, or was this intentionally cryptic?

[ArticMine]

LTC is the largest threat to crypto. If it wins, everyone loses.  Not even jokin' mang. It needs to crash. Not I want but we need.

If you want to see how irrational people who claim to be "rational" can be, just find yourself a litecoin user. They gain no benefit from using litecoin except providing some funding to BTC-E in ways of fees and give the public and investors a reason to be skeptical.
It used to me that we could laugh off queries about why someone couldn't just make up a new coin that would make theirs worth less. We'd laugh and say "because people aren't so stupid as to actively ruin their own investments!" Our laughter is a lot more nervous now. Turns out people are so stupid.
The only possible goal of litecoin is to make all cryptocurrency worth nothing in the long term.

I keep seeing tards asking "when will 4 LTC = 1 BTC" thinking it's inevitable because there are 4 times as many LTC. Well, what they don't seem to realize is that if this happens both LTC and BTC will be worthless because long before this becomes a reality it will be clear to everyone that bitcoin can be inflated thus invalidating the limited supply and paving way for unlimited other currencies to be included (and unlimited inflation).

I don't think this will happen though, there is very little support for LTC and other alternative currencies beyond wild speculation. Also if anything new significant comes out, bitcoiners have vested interest in adopting those features into bitcoin.

It is quite possible that LTC will do poorly with respect to BTC but very well with respect to USD. EUR, CAD etc., sort of like silver has done with respect to both gold and fiat. Now will 15.5 oz of silver ever equal 1 oz of gold again?

[TheKoziTwo]

Maybe one of the reasons people are so keen for mBTC to be adopted as the "industry standard" is that they're scared Litecoin is too attractively priced.

Litecoin is living proof that by switching to mBTC bitcoin could go much much higher based on that psychological effect alone. Think about it, right now LTC is where bitcoin was at 21*4 = $84. Do you think people would buy litecoin if there was only 21 million and price was $84? Probably not. Bitcoin was much further ahead in terms of merchants and media exposure than litecoin is today when it was at $84.

Once we switch to mBTC bitcoin will look very cheap again at $0.95, and sky is the limit.

[jonat3]

I think most people missed the boat on LTC. The smart investors realized that LTC would grow, because currencies that are new can have the most gains in the shortest amount of time, so they bought in early (not to mention that LTC is marketed as BTC's silver). Just look at BTC. A 5000% growth in one year time. BTC will never achieve that performance again in the coming years. Perhaps a 20x growth, but the growth in percentages will keep going down over time.

Because of this enormous growth in the early stages, people will be incentivized to buy coins that are still in the cents or 1 dollar range. Those coins have the possibility of achieving growth gains that are in the thousands of percentages. But right now, LTC is 20 dollars. I think its max market cap will be 500 dollars, because it doesn't give any real advantages over BTC and will thus remain a speculative instrument mostly. Those growth gains can be easily achievable with BTC, since I'm positive that we are in between the innovator phase and the early adopter phase.

It might still be worth a shot, because there are rumors that Mt. Gox will implement LTC, which will greatly increase its legitimacy. But it's up to merchants to adopt LTC besides BTC. As long as they don't do that, LTC's market cap will be limited and its growth will only depend on speculative interest.

Right now, it might be worth looking for the next candidate after LTC, the one that has the best chance after LTC and that's still in the cents stage. If it can be ascertained for sure which is the best third coin, it would almost be a given that growth percentages of above 1000% and more will be achievable due to sheer speculative greed.

[TheKoziTwo]

LTC is the largest threat to crypto. If it wins, everyone loses.  Not even jokin' mang. It needs to crash. Not I want but we need.

If you want to see how irrational people who claim to be "rational" can be, just find yourself a litecoin user. They gain no benefit from using litecoin except providing some funding to BTC-E in ways of fees and give the public and investors a reason to be skeptical.
It used to me that we could laugh off queries about why someone couldn't just make up a new coin that would make theirs worth less. We'd laugh and say "because people aren't so stupid as to actively ruin their own investments!" Our laughter is a lot more nervous now. Turns out people are so stupid.
The only possible goal of litecoin is to make all cryptocurrency worth nothing in the long term.

I keep seeing tards asking "when will 4 LTC = 1 BTC" thinking it's inevitable because there are 4 times as many LTC. Well, what they don't seem to realize is that if this happens both LTC and BTC will be worthless because long before this becomes a reality it will be clear to everyone that bitcoin can be inflated thus invalidating the limited supply and paving way for unlimited other currencies to be included (and unlimited inflation).

I don't think this will happen though, there is very little support for LTC and other alternative currencies beyond wild speculation. Also if anything new significant comes out, bitcoiners have vested interest in adopting those features into bitcoin.

It is quite possible that LTC will do poorly with respect to BTC but very well with respect to USD. EUR, CAD etc., sort of like silver has done with respect to both gold and fiat. Now will 15.5 oz of silver ever equal 1 oz of gold again?

Yeah I agree. I think the LTC/BTC ratio will keep dropping over time while the value goes up in USD. LTC is not keeping up with the progress bitcoin is making, the ratio has to fall.