Everyone who has LTC thinks it's magically going to skyrocket once it hits MtGox.
+1
Call me small minded but I deal exclusively in BTC, other alt-cryptocurrencies just seem like a collection of microcosms to me.
I agree, I think the ltc bubble is over. Especially now that so many people are mining it.
The switch to ASICs is fascinating because it's a dedicated purchase for that application specific reason. Bitcoin got to where it is today partly because of how it was mined - on hardware that people either had, or could purchase and use for gaming, or could re-sell for a different purpose. ASICs have none of these qualities.
I would not discount LTC at all because so many people are (and will be able to continue) mining it. If anything, I think this will give it
more legitimacy in the future. This doesn't necessarily mean a direct increase in value, but certainly indirectly over time helping it maintain relevance while infrastructure has time and room to grow.
Plenty of people have plenty of funds invested in GPU mining rigs right now. Some will sell, but there are enough with vested interest that the market can probably find legs of it's own. Obviously it won't ever "rival" Bitcoin, but there's certainly room for more than one.
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