Why would anyone use BTC to buy LTC?

[e521]

So a lot of GPU miners these days are saying it's time to jump ship to LTC. They say the pasture is greener over there in LTC land and you can get more profit by exchanging LTC for BTC, than just by mining BTC. Sounds like a plan, but can anyone explain why anyone in their right mind would use their BTC to buy the mined LTC? I mean why would anyone even need to buy LTC, in the first place? Are people really doing this or is it just some legend?

Honest question. Thanks!

Your question is (purposely) wrong, you should take away "mined" as every coin is mined and you can buy LTC with $ on BTC-e.
Some traders follow the trend

Also:

4. Biggest BTC exchange MtGox is going to adopt LTC

and some traders follow the trend. If you hold LTC and believe gox will be a fiasco, it's the best time to convert LTC for BTC, just saying..

[superresistant]

Oh man...
The value of LTC can potentially skyrocket really soon.

MtGox is going to adopt LTC.
Some darknet website use LTC as a payment already.
SR is going to adopt LTC.

[usahero]

Why would anyone buy bitcoin in the first place?

Oh, for the profits..

Now I know why.

[lazydna]

You need why, here few:

1. LTC is CHEAP!
2. There is lot going on about LTC atm being updated and developed, 10 000 LTC faunds donated for that cause
3. LTCPP paying processor should open any time now
4. Biggest BTC exchange MtGox is going to adopt LTC
5. Merchants starting to accept LTC

You need more or you just try to troll here?

Also mine own opinion ~10 million BTC is not enough for all world treading, also high price, transfer time and fee for BTC is not good for small transactions

Thanks. Not trolling - I just genuinely don't understand why people use BTC to buy LTC, instead of exchanging for fiat.

Same reason why people don't just exchange all their BTC to Fiat when they aren't using it.

And let's set this straight, LTC and BTC have no inherent value. Their value is dictated by an exchange based on supply and demand. Grain has inherent value as it sustains life.

[Snail2]

"Why would anyone use BTC to buy LTC?"
The answer is very simple. In mid jun. I've bought LTC for 0.0212 BTC each, today I've sold some for 0.0304 BTC each. Now I'm going to "use BTC to buy" some cheap "crapcoins" too . I hope this answered your question.

[glon]

"Why would anyone use BTC to buy LTC?"
The answer is very simple. In mid jun. I've bought LTC for 0.0212 BTC each, today I've sold some for 0.0304 BTC each. Now I'm going to "use BTC to buy" some cheap "crapcoins" too . I hope this answered your question.

OK so speculation it is then.

[Vivisector999]

The same reason people use Fiat to buy BTC is the same reason people use BTC or Fait to buy LTC.  There are many vendors starting to accept LTC.

And let's face it.  If your really going to base value on the amount of places that accept your currency, then BTC and every other Cryptocurrency are totally worthless, as 99.99999% of places don't accept anything but fiat.  It would be good for everyone using Cryptocoins to get on the same page.  It's Crypto (tiny) vs Fiat (HUGE).  We don't need to be thinking any cryptocurrency is better then the other until 1 or a few are globally accepted as a type of currency.  Next we will have Paypal customers jumping on these forums saying "Why would you buy crypto crap when Paypal is accepted everywhere??"

I personally prefer alt-coins, but I am hoping BTC actually takes off and is accepted as a global currency.  I don't wish for it's fall, or for any alt-coins to take over as the dominant coin.   Not sure why others can't do the same.

[emunebtk]

The same reason people use Fiat to buy BTC is the same reason people use BTC or Fait to buy LTC.  There are many vendors starting to accept LTC.

And let's face it.  If your really going to base value on the amount of places that accept your currency, then BTC and every other Cryptocurrency are totally worthless, as 99.99999% of places don't accept anything but fiat.  It would be good for everyone using Cryptocoins to get on the same page.  It's Crypto (tiny) vs Fiat (HUGE).  We don't need to be thinking any cryptocurrency is better then the other until 1 or a few are globally accepted as a type of currency.  Next we will have Paypal customers jumping on these forums saying "Why would you buy crypto crap when Paypal is accepted everywhere??"

I personally prefer alt-coins, but I am hoping BTC actually takes off and is accepted as a global currency.  I don't wish for it's fall, or for any alt-coins to take over as the dominant coin.   Not sure why others can't do the same.

well said!!