Bitcoin DOWN, Litecoin UP

[S3052]

Bitcoin DOWN and Litecoin UP.
This could be a theme for the next months...

What do you think? Discuss.

[N12]

Brought to you by your new Litecoin shill.

I don't think so. I see it being Bitcoin DOWN and Litecoin DOWN (versus the dollar).

[Frozenlock]

I don't think so. I see it being Bitcoin DOWN and Litecoin DOWN (versus the dollar).

Ditto.

[N12]

Last LTC/BTC trade: 0.02732 BTC

*4 (total future money supply of Bitcoin's) = 0.10928. Over 10% valuation of Litecoin versus Bitcoin? I wouldn't even be willing to bet on that if I granted Litecoin a "backup" or "silver" function since that would be at a much lower valuation. Anyone buying at current levels for anything a little more longer term is betting on Litecoin dethroning Bitcoin as "#1 Digital Cash/Gold". Is the probability for that better than 10%? Very doubtful.

[Odalv]

Sorry, will not support scam-coins. ( alt-coin ? ... same as blockchain fork to me, I will stay on longer chain )

[S3052]

Last LTC/BTC trade: 0.02732 BTC

*4 (total future money supply of Bitcoin's) = 0.10928. Over 10% valuation of Litecoin versus Bitcoin? I wouldn't even be willing to bet on that if I granted Litecoin a "backup" or "silver" function since that would be at a much lower valuation. Anyone buying at current levels for anything a little more longer term is betting on Litecoin dethroning Bitcoin as "#1 Digital Cash/Gold". Is the probability for that better than 10%? Very doubtful.

fundamentally this might not make so much sense, but markets are irrational, and this is why Litecoins could eventually rise to crazy levels - based on the technical chart picture

[ElectricMucus]

Oh that's cute the Blue GuyPapa Smurf gonna pump & dump LTC.

[N12]

Last LTC/BTC trade: 0.02732 BTC

*4 (total future money supply of Bitcoin's) = 0.10928. Over 10% valuation of Litecoin versus Bitcoin? I wouldn't even be willing to bet on that if I granted Litecoin a "backup" or "silver" function since that would be at a much lower valuation. Anyone buying at current levels for anything a little more longer term is betting on Litecoin dethroning Bitcoin as "#1 Digital Cash/Gold". Is the probability for that better than 10%? Very doubtful.

fundamentally this might not make so much sense, but markets are irrational, and this is why Litecoins could eventually rise to crazy levels - based on the technical chart picture

Sure, I would never argue that.

Personally though, I like having fundamentals and technicals align. I made some Bitcoins off Namecoin once, and somehow I just closed the "altcoin" chapter a long time ago as I firmly believe that no proof of work based coin can overtake Bitcoin.

[worldinacoin]

they are positively correlated, I doubt so.

[S3052]

Last LTC/BTC trade: 0.02732 BTC

*4 (total future money supply of Bitcoin's) = 0.10928. Over 10% valuation of Litecoin versus Bitcoin? I wouldn't even be willing to bet on that if I granted Litecoin a "backup" or "silver" function since that would be at a much lower valuation. Anyone buying at current levels for anything a little more longer term is betting on Litecoin dethroning Bitcoin as "#1 Digital Cash/Gold". Is the probability for that better than 10%? Very doubtful.

fundamentally this might not make so much sense, but markets are irrational, and this is why Litecoins could eventually rise to crazy levels - based on the technical chart picture

Sure, I would never argue that.

Personally though, I like having fundamentals and technicals align. I made some Bitcoins off Namecoin once, and somehow I just closed the "altcoin" chapter a long time ago as I firmly believe that no proof of work based coin can overtake Bitcoin.

fair point. overtaking will be difficult, but getting closer is possible

by the way, there has just been a new guardian article published about alt digital currencies
http://www.guardian.co.uk/technology/2013/jun/25/bitcoin-successors-litecoin-freicoin

[N12]

The rise of perception of altcoins is certainly something I foresee being a sentimental driver in the Bitcoin bear market, along with legal stuff and maybe debates over blocksize limit.

It's going to be a complete disaster, and I'm looking forward to it.

[byronbb]

I have been very anti litecoin thinking there is really only space for one crypto currency and litecoin would die due to redundancy. I am less convinced if this now because litecoin could be used in tandem with bitcoin to complement it. If micro transactions are bloating the chain they could be pushed to litecoin and the bitcoin chain could be freed for heavy lifting.

[N12]

If micro transactions are bloating the chain they could be pushed to litecoin and the bitcoin chain could be freed for heavy lifting.

That same problem would occur on Litecoin then and you'd have to move on to Feathercoin and then to another scamcoin.

[RyNinDaCleM]

Sorry, will not support scam-coins. ( alt-coin ? ... same as blockchain fork to me, I will stay on longer chain )

Litecoin would be the absolute LEAST scammy of the alt-coins and the blockchain is 50% longer  

Bitcoin DOWN and Litecoin UP.
This could be a theme for the next months...

What do you think? Discuss.

Really, this is only because of Gox bringing LTC trading to their site, so it's a speculative bump. They say in July, but I would wager a guess that something will delay it further. Typically LTC/USD follows BTC/USD while LTC/BTC would have an obvious inverse correlation

[notme]

Sorry, will not support scam-coins. ( alt-coin ? ... same as blockchain fork to me, I will stay on longer chain )

Litecoin would be the absolute LEAST scammy of the alt-coins and the blockchain is 50% longer 

Namecoin actually provides an innovative use case, and not if you weight by difficulty, which is how cryptocurrencies judge chain length.

Bitcoin DOWN and Litecoin UP.
This could be a theme for the next months...

What do you think? Discuss.

Really, this is only because of Gox bringing LTC trading to their site. They say in July, but I would wager a guess that something will delay it further

People who buy on news like this always make me wonder about our survival as a species.

[RyNinDaCleM]

Sorry, will not support scam-coins. ( alt-coin ? ... same as blockchain fork to me, I will stay on longer chain )

Litecoin would be the absolute LEAST scammy of the alt-coins and the blockchain is 50% longer 

Namecoin actually provides an innovative use case, and not if you weight by difficulty, which is how cryptocurrencies judge chain length.

I can agree with this, but NMC isn't really considered a "currency", so I left that one out.
I'm not even sure how one would compare the difficulty of the two, but LTC difficulty is still very high for a scrypt coin.

[ArticMine]

Litecoin was conceived as silver to Bitcoin's gold by design. I actually would expect a variation of the LTC/BTC price over time in many ways comparable to that of silver/gold. I actually would also expect a high degree of correlation between LTC and BTC over time when compared to USD, EUR, CAD etc.  Is it possible to trade LTC/BTC profitably. Of course just like silver/gold. As for charts the chart that I find the most interesting over time is LTC/BTC rather than LTC/USD.

[Diamondstarfall]

Litecoin was conceived as silver to Bitcoin's gold by design. I actually would expect a variation of the LTC/BTC price over time in many ways comparable to that of silver/gold. I actually would also expect a high degree of correlation between LTC and BTC over time when compared to USD, EUR, CAD etc.  Is it possible to trade LTC/BTC profitably. Of course just like silver/gold. As for charts the chart that I find the most interesting over time is LTC/BTC rather than LTC/USD.

I agree, at first I have been very focused on LTC/USD but for the past weeks I have shifted my attention more to the LTC/BTC price more.

[ArticMine]

One another note the BTC/LTC debate of the 21st century resembles in many ways the bimetallism (gold/silver) debates of the 19th century  http://en.wikipedia.org/wiki/Bimetallism

[lazydna]

both tied down because of UP USD.
LTC probably has more individual miners then BTC at the moment considering asics.
if asics decide to offload their huge BTC reserves and hedge their capital with LTC we could see some significant changes.