Litecoin newbie - Needs assistance

[Ch3vron]

With the prices of BTC skyrocketing and LTC/BCH is only a fraction of a BTC i'm thinking of buying me a couple LTC/BCH and hope it'll do the same as BTC in a while. To that end i have a few questions

I'm currently using electrum which only supports BTC. As such i'm looking for a trustworthy software that supports if possible BTC/BCH AND LTC that runs on Win 10 and has an android app (preferably from the same developers)

I'm also thinking about seeing if mining LTC/BCH is doable on my rig as from my research it seems that this needs less dedicated hardware than BTC does.

Anyone have any suggestions?

[Aura]

I'm not really a fan of wallets that support multiple coins, most of the time these are wallets that are either cloud or don't support open-source. You better just get two separate wallets for these coins. For Litecoin I can recommend Electrum LTC or if you want to run a full node Litecoin Core. To answer your second question, LTC mining is not profitable using GPUs, as the mining is quite dominated by the ASICs

[drudeyoungsong]

For LTC you have equivalently Electrum LTC Wallet https://electrum-ltc.org/ and for BCH you have equivalently Electron Cash Wallet https://electroncash.org/ from the same developers as for Electrum BTC Wallet.

What hardware do you use for your rig?

[hieu81]

I'm not really a fan of wallets that support multiple coins, most of the time these are wallets that are either cloud or don't support open-source. You better just get two separate wallets for these coins. For Litecoin I can recommend Electrum LTC or if you want to run a full node Litecoin Core. To answer your second question, LTC mining is not profitable using GPUs, as the mining is quite dominated by the ASICs

For me! I also don't like of fan of wallet support multiple coins! I only buy all coin I want to invest via exchange and hold its on core wallet. It's have a little difficult to used but safety and private '

[Aura]

I'm not really a fan of wallets that support multiple coins, most of the time these are wallets that are either cloud or don't support open-source. You better just get two separate wallets for these coins. For Litecoin I can recommend Electrum LTC or if you want to run a full node Litecoin Core. To answer your second question, LTC mining is not profitable using GPUs, as the mining is quite dominated by the ASICs

For me! I also don't like of fan of wallet support multiple coins! I only buy all coin I want to invest via exchange and hold its on core wallet. It's have a little difficult to used but safety and private '

You described the best the technique for buying and holding your cryptocurrencies. I try to this technique every time I invest in crypto, but sometimes I'm just a little too lazy to move small amounts of coins out of my exchange account. Luckily I never lost anything because of that.

[Ch3vron]

I don't mind 3 seperate apps. In the event 1 gets compromised (hasn't yet, hope it never does either). Not everything is lost. Oh and speaking of BCH, if i had any bitcoin before the hard fork, do i automatically have BCH now too? If yes, how do i retrieve that wallet?

As to my rig, meet project phoenix (yeah, im one of those that names there rigs. Hell it's even got a matching airbrush):

Desktop: Project Phoenix || Updated Specs 07/09/17!
Case: Cooler Master Cosmos II || Motherboard: Asus Maximus VIII Formula || CPU: Intel Core i7 6700k || CPU Cooler: Corsair h100i v2 || RAM: 16GB Corsair Dominator Platinum ROG || GPU: Asus Strix GTX 1080 A Gaming
Boot SSD: Samsung 850 EVO || Int HDD 1 & 2: HGST Deskstar NAS 4TB || Int HDD 3: Seagate ST2000DM001 || Int HDD 4: Samsung F1 Spinpoint 1TB || ODD 1: LG BH16NS40 || ODD 2: LG BH10LS30 || ODD 3: LG GH20NS10
OS: Win 10 Pro x64 || Ext HDD 1 & 2: 2x WD MyBook 2TB || Ext HDD 3: Seagate ST320006 || Sound: Logitech Z-906 || Screen 1: Asus VG278HR | | Screen 2:  HP w2448hc

[drudeyoungsong]

If you held BTC before block 478558 was mined (August 1, 2017), you have the equivalent number of BCH coins as you did BTC. This assumes that you were (at that time) and are in complete control of your private keys or that you had your BTC on an online wallet or exchange which supports BCH (like Kraken). There are a lot of guides online for retrieving the BCH.

As stated earlier, BTC/BCH/LTC mining is completely dominated by ASIC mining, so a GPU mining rig wont do you any good. You can mine the Bitcoin Gold fork with GPU.

[PMmesexycoins]

You could look into mining the ones not dominated by ASICS, maybe give a look at Monero. You should calculate power costs and all that to see whether it's worthwhile, it might be cheaper to just trade for the coins.

[Ch3vron]

If you held BTC before block 478558 was mined (August 1, 2017), you have the equivalent number of BCH coins as you did BTC. This assumes that you were (at that time) and are in complete control of your private keys or that you had your BTC on an online wallet or exchange which supports BCH (like Kraken). There are a lot of guides online for retrieving the BCH.

As stated earlier, BTC/BCH/LTC mining is completely dominated by ASIC mining, so a GPU mining rig wont do you any good. You can mine the Bitcoin Gold fork with GPU.

Well i managed to get hold of of my BCH by importing my seed into electron cash. I have a wopping 3.4EUR of BCH worth. Though all the articles i found say importing seed might not have been wise? I didn't send all of my BTC to a new wallet first. Am i safe or should i do it now just in case?

[chocopapaya]

Exodus wallet is by far the most user friendly wallet I have come across and I highly recommend it.
It can store quite a number of coins, including: btc, eth, bch, ltc, omg, etc, eos, dash, and bunch of others.
It also has shapeshift ingrained in the wallet so you can trade directly from your wallet.
Shapeshift is a service that automatically finds the best conversion rates for you, the fees are actually reasonable, especially considering exchanges like cryptopia charge around .001btc ($20usd!).
They also add more supported coins regularly too which is nice.

And not related to wallets, but related to your original post, I'm sorry but you have got the crypto market all wrong.
The price of a coin is like the third most important factor in determining if a coin will grow in value.
The most important thing to look at is Marketcap (how much the company is worth).
The second thing is available coins and then the price.
Crunch in some numbers and...voila! You can see how much the value of a coin will be if it rises 50%, 100% etc.

So, right away, you will start to realize, that some coins it is literally impossible for the price to rise to bitcoins price, or even $2000 for that matter.
It's all about economics and mathematics

[Ch3vron]

Nah i don't have it all wrong. I know the chances of LTC or BTC going that high are very small. I'm not expecting AT ALL for either of them to go that high any time soon ^^

[99th]

The truth is that LTC doesn't have to go that high for people to make a killing off it. Just recently LTC was at $50 and look at it now. If you invest only 1k into LTC and just hold it you would be doing better than to buy btc because of the fact that you can buy more LTC with that amount of money than you can btc. SO lets say you did spend 1k on ltc at $50 and you bought 20 coins. Right now your 20 coins would already be worth about 6k. And that is with them valued only at $300. If ltv even hit 1k a piece....which considering it just went 6fold...another 3x on top wouldn't be unheard of....you would have made about 19k from your 1k. You could simply not do that with btc because the price is too high and it would have to jump to 100k to see similar returns.