I'm sad to say it but the Litecoin pipedream is over.

[ElectricMucus]

Atlantis gone for good means it's just another Bitcoin clone now, it had real potential for a while but what remains isn't worth the fuss.
The infamous mtgox adoption (which I still think was a april fools joke) becomes less and less relevant as gox is limping towards it's gave. There is a slim chance that they might get back into the land of the living again and continue with their plans. But that's doesn't justify a price of over $2 USD, or even above a Dollar.

[1715599211]

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[Buffer Overflow]

I quite agree, already dumped my holding. In exchange for Bitcoins obviously.

Also, I don't mine scrypt coins anymore. Too expensive with GPUs.

[Whuzz]

OP wants to talk LTC price down so he can buy more, cheap.

[miffman]

Litecoin is going down, investors will see potential and buy it up

[smoothie]

I find if funny that the presumption is that Litecoin needs Atlantis.

Trust me Litecoin is much bigger than Atlantis as is Bitcoin > Silk Road.

[Buffer Overflow]

Litecoin will still be around for a long time. Can be sure of that.
It just those GPUs are so damn expensive to run. Especially here in UK.

[marcovaldo]

LTC never take off like btc

[Pumpkin]

Litecoin is a currency in its infancy, but at the moment it's valued above 200M USD. That price doesn't seem sustainable unless something big happens soon.

[dragonkid]

Litecoin will still be around for a long time. Can be sure of that.
It just those GPUs are so damn expensive to run. Especially here in UK.

I agreed with you, it is so expensive to mine using GPUs in the UK. I am waiting for another 4 LTC to finish mining (That is the minimum withdraw from the pool I am using) then I am turning my GPU miner off for good.

[tytanick]

when we wait month or two, there will be so many asics digging up bitcoin that difficulty will be in 2 months 16x bigger than now and many of gpu owners will go to litecoin
see what happens

[alex0909]

Litecoin is a currency in its infancy, but at the moment it's valued above 200M USD. That price doesn't seem sustainable unless something big happens soon.

source? And show me your calculations, because 21.5 million coins x 2.50 = 53M

[Oldminer]

Litecoin will still be around for a long time. Can be sure of that.
It just those GPUs are so damn expensive to run. Especially here in UK.

I agreed with you, it is so expensive to mine using GPUs in the UK. I am waiting for another 4 LTC to finish mining (That is the minimum withdraw from the pool I am using) then I am turning my GPU miner off for good.

Mandatory 'and so it begins'...

[Buffer Overflow]

when we wait month or two, there will be so many asics digging up bitcoin that difficulty will be in 2 months 16x bigger than now and many of gpu owners will go to litecoin
see what happens

The GPU owners migrated from Bitcoin months ago!

[NWO]

The next week will be the big test for LTC with the imminent gox arrival and the 'apparent' fontas pump.

Why sell now when you will definitely profit from it. Although it is to be seen how much profit it will bring.

[Pumpkin]

Litecoin is a currency in its infancy, but at the moment it's valued above 200M USD. That price doesn't seem sustainable unless something big happens soon.

source? And show me your calculations, because 21.5 million coins x 2.50 = 53M

84M LTC * 2.4 USD/LTC = 201.6M USD

[usahero]

LTC never take off like btc

2013-03-01  the price of litecoin was between 7 and 8 cents. 0.07 and 0.08$. That is around 32 times (taking 2.4$ and 0.075$ prices) lower than at this moment.

[ElectricMucus]

OP wants to talk LTC price down so he can buy more, cheap.

I wouldn't want to buy Litecoins if there is no way to sell them. You just have to acknowledge a change of circumstances affects prices.

[Magic8Ball]

I quite agree, already dumped my holding. In exchange for Bitcoins obviously.

Also, I don't mine scrypt coins anymore. Too expensive with GPUs.

Mining BTC with ASICS does not give you ROI ever. If you already have GPUs, mining Scrypt is still more profitable.

[TheSpiral]

I quite agree, already dumped my holding. In exchange for Bitcoins obviously.

Also, I don't mine scrypt coins anymore. Too expensive with GPUs.

Mining BTC with ASICS does not give you ROI ever. If you already have GPUs, mining Scrypt is still more profitable.

Not necessarily true. Depends on the efficiency of the ASIC (i.e. Hash per $). A good calculator taking future difficulty into account: http://www.coinish.com/calc/ (make sure you click expert). There are a lot of inefficient ASICs though, yes, that is true. Also true that you can sell GPU's when done mining for a better profit margin over ASICs.

[Buffer Overflow]

I quite agree, already dumped my holding. In exchange for Bitcoins obviously.

Also, I don't mine scrypt coins anymore. Too expensive with GPUs.

Mining BTC with ASICS does not give you ROI ever. If you already have GPUs, mining Scrypt is still more profitable.

You must be lucky and have cheap electricity then. Or stealing it.

[digitalindustry]

https://bitcointalk.org/index.php?topic=299364.0

[solracx]

https://bitcointalk.org/index.php?topic=299364.0

The fact that there are new bitcoin miners that operate at the terahash level on just 28nm technology means that the NSA has for a while now had terahash machines that could brute force crack and sha256 encryption.

[Buffer Overflow]

https://bitcointalk.org/index.php?topic=299364.0

You do realise that Litecoin uses SHA-256 don't you?

[solracx]

https://bitcointalk.org/index.php?topic=299364.0

You do realise that Litecoin uses SHA-256 don't you?

The proof of work is not SHA-256.  For the calculation of the merkel roots it does, but not sure how this is even exploitable!

The transaction signing is the same but uses Elliptic Curve signatures.  This is not too much of an issue if you change your addresses often.

[digitalindustry]

https://bitcointalk.org/index.php?topic=299364.0

You do realise that Litecoin uses SHA-256 don't you?

The proof of work is not SHA-256.  For the calculation of the merkel roots it does, but not sure how this is even exploitable!

The transaction signing is the same but uses Elliptic Curve signatures.  This is not too much of an issue if you change your addresses often.

Also there are other measures that can be taken that have been developed from this forum - , some of this is a bit of FUD , as the redesigning of the Signatures algo can be done so it is said, also say with a system that has been implemented with some of the PoS currency is an effective strategy - Also it is said if Sigs were cracked this would not be transparent .

the problem with a "pure SHA-256" is the risk to the whole Blockchain, in my opinion .  

one can't definitively rule that out. in this case. , BTC falls victim of the "first of a first" syndrome perhaps?

[rix5]

in the long run btc will go up ... so ltc will also go up in the long run just because of the fact that cryptocurrencies in general have still a HUGE market to gain  ... we are still in the first days of a big financial shift. This even has potential to eradicate all centralized money in the long run. This thread a waste of time. I'll buy your ltc for low ...  have a good day ...

[FrictionlessCoin]

at $2.4 a coin, it is very impressive.

what other real currency is valued this high?

[miffman]

at $2.4 a coin, it is very impressive.

what other real currency is valued this high?

copperbar. but that is not nearly as popular as litecoin

[Reaper3]

at $2.4 a coin, it is very impressive.

what other real currency is valued this high?

But its peak was already a while ago

[tacotime]

at $2.4 a coin, it is very impressive.

what other real currency is valued this high?

But its peak was already a while ago

Just like bitcoin, which rose to $30 and then died at $2

RIP bitcoin

[bearcat10]

I agree too. The only currency that worth trading and has a value is bitcoin. It has enough services, popularity and support to stay stable. SO for me as a trader bitcoin is the No.1 and only option.

[weex]

Seems more and more people are choosing to support Litecoin every day. A lot of new services sparked by the April run-up are supporting Litecoin as a gimme. If they have code for bitcoind it's ludicrous not to add a litecoind instance as well. It's a dream but not of the pipe variety.

[worldtreasurefinders]

There is still a tremendous amount of market demand for crypto currencies.  With bitcoin at $125 and rising, there is plenty of demand for a less expensive alternative.  History has shown the success of gold and silver as currencies - there will/must be a silver to the gold of bitcoin, and there is nothing but LTC at the moment that can fill that market gap.  Hold on to your LTC, in a year or years time, your LTC will be valued at $10-25.

The historical gold/silver ratio is 16:1, and as human nature seems to stay the same over the millennia, that is the target ratio I am looking for.  I.E, BTC at $125 means LTC should be $7.81.  There is still a lot of upside potential to LTC.

[Reaper3]

at $2.4 a coin, it is very impressive.

what other real currency is valued this high?

But its peak was already a while ago

Just like bitcoin, which rose to $30 and then died at $2

RIP bitcoin

lol but can you say that about everycoin? e.g FTC? DGC?

[ElectricMucus]

What's impressive is that you guys seem to be ignoring any warnings of how the current valuation isn't justified by any margin.

The initial take off was due to Atlantis which has later been intensified by the Gox rumour. Before LTC was worth around a nickel. These prices were justified because of the circumstances back then, and now these circumstances are again very similar. There is no concrete use for Litecoin at this point, and when Bitcoin had the market cap of LTC in 2011 it had silkroad and a several legit merchants. All of which LTC now lacks.

[aa]

Putting you on ignore, OP, for your attempt to scam people. The announcement of that crap closing down was days ago and yet the price has not dropped at all. That means that anyone who was using that shit hole didn't even have enough coin to drop the price by $0.01 after cashing out.

I'm putting everyone else who made the same idiotic comments that OP did on ignore as well. Everyone else should do the same to OP and his FUD team. Actually, it's clear from OP's extremely brown Ignore button that he's already been ignored more times than that foolish child Simran.

[SaltySpitoon]

Have you ever used Atlantis though? They do like 5 trades per week. I wouldn't exactly call it a big loss to Litecoins. I'm not sure why Litecoins are at $2.35 each right now, there doesn't seem to be much actual market depth in them, however, like I said, the fact that when Atlantis shut down, and the panic sells lead to a total of 3% decrease in value, from .0200 to .0194 leads me to believe that Atlantis wont really be missed.

[CoinBuzz]

do not hold your coins.

make them move in network. do something with them. create more transaction for network. gamble a bit. giveaway some. fake transfer to another account of yourself.  anyway make transaction for litecoin. use your coins.

that give you more profit than holding.

[Buffer Overflow]

do not hold your coins.

make them move in network. do something with them. create more transaction for network. gamble a bit. giveaway some. fake transfer to another account of yourself.  anyway make transaction for litecoin. use your coins.

that give you more profit than holding.

Lost me on that one.   

[digitalindustry]

do not hold your coins.

make them move in network. do something with them. create more transaction for network. gamble a bit. giveaway some. fake transfer to another account of yourself.  anyway make transaction for litecoin. use your coins.

that give you more profit than holding.

Lost me on that one.   

he's saying shake your booty - wiggle it just a little bit, hes definitely talking about dancing .

he's jive talking you .

[NWO]

Have you ever used Atlantis though? They do like 5 trades per week. I wouldn't exactly call it a big loss to Litecoins. I'm not sure why Litecoins are at $2.35 each right now, there doesn't seem to be much actual market depth in them, however, like I said, the fact that when Atlantis shut down, and the panic sells lead to a total of 3% decrease in value, from .0200 to .0194 leads me to believe that Atlantis wont really be missed.

I want to know how the hell NVC is priced so high  it has ZERO services yet demands a much higher price than LTC.

[CoinBuzz]

Have you ever used Atlantis though? They do like 5 trades per week. I wouldn't exactly call it a big loss to Litecoins. I'm not sure why Litecoins are at $2.35 each right now, there doesn't seem to be much actual market depth in them, however, like I said, the fact that when Atlantis shut down, and the panic sells lead to a total of 3% decrease in value, from .0200 to .0194 leads me to believe that Atlantis wont really be missed.

I want to know how the hell NVC is priced so high  it has ZERO services yet demands a much higher price than LTC.

me too

[ElectricMucus]

I want to know how the hell NVC is priced so high   it has ZERO services yet demands a much higher price than LTC.

me too

Isn't it supposed to be ultra-rare or something?

Have you ever used Atlantis though? They do like 5 trades per week. I wouldn't exactly call it a big loss to Litecoins. I'm not sure why Litecoins are at $2.35 each right now, there doesn't seem to be much actual market depth in them, however, like I said, the fact that when Atlantis shut down, and the panic sells lead to a total of 3% decrease in value, from .0200 to .0194 leads me to believe that Atlantis wont really be missed.

How did you come up with that figure? 5 tades a week? If that's true I would rather say the valuation wasn't justified in the first place, although it might have accounted for some speculative potential.
Making conclusions based on short-term price movements for fundamentals doesn't work out. These things generally take time to be priced in.

[r3wt]

Have you ever used Atlantis though? They do like 5 trades per week. I wouldn't exactly call it a big loss to Litecoins. I'm not sure why Litecoins are at $2.35 each right now, there doesn't seem to be much actual market depth in them, however, like I said, the fact that when Atlantis shut down, and the panic sells lead to a total of 3% decrease in value, from .0200 to .0194 leads me to believe that Atlantis wont really be missed.

I want to know how the hell NVC is priced so high  it has ZERO services yet demands a much higher price than LTC.

me too

Isn't it supposed to be ultra-rare or something?

well its much rarer than Litecoin, i can tell you that much.

[Coinseeker]

The next week will be the big test for LTC with the imminent gox arrival and the 'apparent' fontas pump.

Why sell now when you will definitely profit from it. Although it is to be seen how much profit it will bring.

Delusional.  

[lonesoul]

how many times have LTC been rumored to be on Gox? i can recall 2 dates i have read previously (Sept 7th as it tied in to my birthday and i was hoping for a nice treat!) then it got moved to Sept 10th. when is the next imaginary date?

Dont get me wrong, LTC is still a baby compared to BTC in terms of age, but it seems mad that people base its success on things that seem to be completely baseless.

instead of people pushing for Gox to accept it, when not get out to local business and ask them to accept it. As soon as real life physical shops start taking it (as is now the case with BTC slowly getting to front end facing shops) it will pick up in value.

but rumors of it going on to Gox just seem to pump the price for a temporary period only for it to deflate later on and lose the interest of people that get caught up.

When real life adoption starts to take off so will the coin value.  (I know its had problems but at least FTC is trying to aim its coin at pubs in the local area of its creation)

thats my 2 cents :-)

all the best

Stuart

[Buffer Overflow]

As soon as real life physical shops start taking it (as is now the case with BTC slowly getting to front end facing shops) it will pick up in value.

Which begs the question, why would a shop adopt Litecoin instead of more established and less risker Bitcoin?

[Coinseeker]

As soon as real life physical shops start taking it (as is now the case with BTC slowly getting to front end facing shops) it will pick up in value.

Which begs the question, why would a shop adopt Litecoin instead of more established and less risker Bitcoin.

Why would a shop adopt either of them?   Better question, why would average consumers switch from instantly swiping a debit card (free) to paying a fee, waiting 30 minutes or more for confirmations, dealing with difficult and cumbersome wallet/blockchain installs, ridiculously long payment addresses and limited avenues to purchase either currency?  

[smoothie]

Litecoin is a currency in its infancy, but at the moment it's valued above 200M USD. That price doesn't seem sustainable unless something big happens soon.

Math fail?

[miffman]

Litecoin is a currency in its infancy, but at the moment it's valued above 200M USD. That price doesn't seem sustainable unless something big happens soon.

Math fail?

uuhhh yeah about a quarter of that only lol.

[Buffer Overflow]

As soon as real life physical shops start taking it (as is now the case with BTC slowly getting to front end facing shops) it will pick up in value.

Which begs the question, why would a shop adopt Litecoin instead of more established and less risker Bitcoin.

Why would a shop adopt either of them?   Better question, why would average consumers switch from instantly swiping a debit card (free) to paying a fee, waiting 30 minutes or more for confirmations, dealing with difficult and cumbersome wallet/blockchain installs, ridiculously long payment addresses and limited avenues to purchase either currency?  

Good point.

[TheSpiral]

Litecoin is a currency in its infancy, but at the moment it's valued above 200M USD. That price doesn't seem sustainable unless something big happens soon.

Math fail?

Probably calculating for maximum supply of 84 million.

[SaltySpitoon]

come up with that figure? 5 tades a week? If that's true I would rather say the valuation wasn't justified in the first place, although it might have accounted for some speculative potential.
Making conclusions based on short-term price movements for fundamentals doesn't work out. These things generally take time to be priced in.

I take it upon myself to browse SR and Atlantis, just for entertainment purposes. The 5 trades per week is an exaggeration, however I've never seen more than a handful of things listed there at any time, and nothing ever seems to sell. I've seen SR sellers complaining that they sell 10 things per day on SR, however they do 1 trade every two weeks on Atlantis.

I have a feeling Litecoin Global closing down will cause a whole lot more damage than Atlantis.

[ElectricMucus]

come up with that figure? 5 tades a week? If that's true I would rather say the valuation wasn't justified in the first place, although it might have accounted for some speculative potential.
Making conclusions based on short-term price movements for fundamentals doesn't work out. These things generally take time to be priced in.

I take it upon myself to browse SR and Atlantis, just for entertainment purposes. The 5 trades per week is an exaggeration, however I've never seen more than a handful of things listed there at any time, and nothing ever seems to sell. I've seen SR sellers complaining that they sell 10 things per day on SR, however they do 1 trade every two weeks on Atlantis.

I have a feeling Litecoin Global closing down will cause a whole lot more damage than Atlantis.

I see. Well of course SR had a vastly higher volume, and if it did 140x times the volume that wouldn't have been so bad for Atlantis. No idea how the relation really was.
The point is that Atlantis distinguished LTC from any other altcoin and it represented potential for it to be used for something else than a trading game.
LTC Global isn't really something I would attribute value to. What else is there except mining contracts?

[gica_contra]

so what should I do with my LTC now that they're worthless?

[timk225]

Give them to me for free! 

[matt608]

What's impressive is that you guys seem to be ignoring any warnings of how the current valuation isn't justified by any margin.

The initial take off was due to Atlantis which has later been intensified by the Gox rumour. Before LTC was worth around a nickel. These prices were justified because of the circumstances back then, and now these circumstances are again very similar. There is no concrete use for Litecoin at this point, and when Bitcoin had the market cap of LTC in 2011 it had silkroad and a several legit merchants. All of which LTC now lacks.

This.  I held LTC for months and months waiting for gox, but sold them back into BTC a few weeks ago.  And now atlantis has closed and still no word from gox.  Why is it any better than any of the other worthless alts apart from its 'brand' which is now quite well known?

[Coinseeker]

so what should I do with my LTC now that they're worthless?

Trade them for BTC on BTC-e.  Send that BTC to Bitstamp and sell them, capturing the spread.  Then send that USD into the Ripple network, buy up XRP and get ready for a "speculated" rise in XRP values over the coming weeks.  Either case, don't get caught holding the LTC bag.  My guess is it's going to get much worse for LTC, before it gets better.

[timk225]

Wait for BTC price to dip, trade LTC for BTC.  Hold as BTC untl BTC price jumps again.  Sell BTC.  Profit + profit!

[SaltySpitoon]

I see. Well of course SR had a vastly higher volume, and if it did 140x times the volume that wouldn't have been so bad for Atlantis. No idea how the relation really was.
The point is that Atlantis distinguished LTC from any other altcoin and it represented potential for it to be used for something else than a trading game.
LTC Global isn't really something I would attribute value to. What else is there except mining contracts?

LTC Global had quite a few assets, and did an average of 6,000 Litecoins in trades per day. That is a very significant amount of liquidity that is on its way out now.

[ElectricMucus]

I see. Well of course SR had a vastly higher volume, and if it did 140x times the volume that wouldn't have been so bad for Atlantis. No idea how the relation really was.
The point is that Atlantis distinguished LTC from any other altcoin and it represented potential for it to be used for something else than a trading game.
LTC Global isn't really something I would attribute value to. What else is there except mining contracts?

LTC Global had quite a few assets, and did an average of 6,000 Litecoins in trades per day. That is a very significant amount of liquidity that is on its way out now.

Well name some which aren't miners, exchanges or themselves.

There's gambling and that's about it. It's all a closed loop, nothing outside the usual accumulation of coins.

[Wekkel]

I love posts about the death of a coin. Indicates much fun ahead the next year.

Holding on to my LTC.

[ElectricMucus]

I love posts about the death of a coin. Indicates much fun ahead the next year.

Holding on to my LTC.

"I'm a long-term investor."

[Wekkel]

"I'm a long-term investor."

Yes MA'AM 

It's still either a hit or a big miss, just like Bitcoin. Never venture, never gain.

[flound1129]

when we wait month or two, there will be so many asics digging up bitcoin that difficulty will be in 2 months 16x bigger than now and many of gpu owners will go to litecoin
see what happens

The GPU owners migrated from Bitcoin months ago!

It doesn't matter what BTC difficulty does, if LTC mining can't pay for the electricity it consumes.

As I've always said, LTC (and the other scrypt coins) need a REAL MARKET to have any long term value.  That means real services and other things to do with them other than dump them for BTC.  And no, two shitty gambling sites doesn't count.

[reb0rn21]

I just love stupid haters, making trash talk, they were stupid to dump and now wanna make their mistake in profit

WTF care for Atlantis???

There are big things  planed to happen sooner then latter !

Only moron or manipulation group would open topic like this....

And don`t forgets moron buying asic for BTC and now have ZERO profit hating everything, and they should hate themselfs for being stupid

[Pumpkin]

Litecoin has yet to survive the inflow of GPU miners that *WILL* mine LTC and sell it for BTC. This has only started around August when mining BTC with GPUs got unprofitable, so only a few months so far.

Unless there is equal demand for BTC->LTC trades, LTC price will go down.

[SaltySpitoon]

Well name some which aren't miners, exchanges or themselves.

There's gambling and that's about it. It's all a closed loop, nothing outside the usual accumulation of coins.

Well, ART is shares in a art studio that creates dividends by selling art. Esecurity 1 and 2 are shares in servers that sell Anti DDOS hosting. There are some others that I didn't read in depth enough to know exactly what they did, but they weren't gambling, exchanges, or mining contracts.

[ElectricMucus]

Well name some which aren't miners, exchanges or themselves.

There's gambling and that's about it. It's all a closed loop, nothing outside the usual accumulation of coins.

Well, ART is shares in a art studio that creates dividends by selling art. Esecurity 1 and 2 are shares in servers that sell Anti DDOS hosting. There are some others that I didn't read in depth enough to know exactly what they did, but they weren't gambling, exchanges, or mining contracts.

Nice, I didn't notice them.
How much are they worth?

[SaltySpitoon]

Nice, I didn't notice them.
How much are they worth?

They were a litecoin or two per share, of course depending on how many shares released and of what value each held. however with LitecoinGlobal shutting down, all of the bids/asks were reset, so its a madhouse right now.

I'm an asset issuer on LitecoinGlobal myself with a Silver Mutual fund, but my goal with that was to essentially create a Litecoin:Silver exchange, so I guess that counts as internal transfer like you were talking about before. But yeah, there is a decent amount of diversity on LitecoinGlobal, which is why I believe that this will impact Litecoin more than anything else.

[flound1129]

Litecoin has yet to survive the inflow of GPU miners that *WILL* mine LTC and sell it for BTC. This has only started around August when mining BTC with GPUs got unprofitable, so only a few months so far.

Unless there is equal demand for BTC->LTC trades, LTC price will go down.

It doesn't matter how many people are mining LTC.  The difficulty adjustment ensures that only a certain number of coins are produced each day.

The question is whether people who are mining LTC, or any of the other altcoins, are using them to purchase goods and services (i.e., commerce), or if they are sending them to exchanges to dump for BTC or fiat as soon as possible.

If the answer is the latter, then yes the price will continue to drop.

[defaced]

oh silly fud.

[r3wt]

oh silly fud.

no shit. look at his ignore badge.

[mr_random]

The situation is complex. Simplistic analysis does not capture the dynamics at play  

Litecoin is widely known as the number 2 coin behind Bitcoin. That's worth a lot. Litecoin market cap is multiple times bigger than all the other alt coin market caps put together. If you believe in the idea of an alt coin similar to Bitcoin catching on then it makes sense to back Litecoin rather than something else that isn't well known. If you don't believe in the idea of alt coins, kinda silly posting in this subforum imo. The coin landscape has changed a lot in the last half a year, the 50,000 strong bitcoin community on reddit was previously super hostile towards litecoin and would give it no credit, that's changed quite a bit now.

[ElectricMucus]

I've been a Litecoin supporter from the start and suffice it to say it surpassed my expectations. But the whole time there were thing happening which more or less justified the gains.
Until now. Of course brand recognition means something and its much more popular than last year. Even without things to use it.

What I am saying that this all can't happen in a vacuum, and with stuff shutting down the air is starting to get quite thin. I'm not saying its doomed, just that these prices won't hold by a long shot.

[r3wt]

I've been a Litecoin supporter from the start and suffice it to say it surpassed my expectations. But the whole time there were thing happening which more or less justified the gains.
Until now. Of course brand recognition means something and its much more popular than last year. Even without things to use it.

What I am saying that this all can't happen in a vacuum, and with stuff shutting down the air is starting to get quite thin. I'm not saying its doomed, just that these prices won't hold by a long shot.

even alcoholics have moments of clarity. sorry i just couldn't resist, but all trolling aside, i see what you are saying. ironically i mentioned this a few months ago. ltc has no services, why is it alive? speculation that it will become something, but it never does.

[CoinBuzz]

Litecoin has yet to survive the inflow of GPU miners that *WILL* mine LTC and sell it for BTC. This has only started around August when mining BTC with GPUs got unprofitable, so only a few months so far.

Unless there is equal demand for BTC->LTC trades, LTC price will go down.

It doesn't matter how many people are mining LTC.  The difficulty adjustment ensures that only a certain number of coins are produced each day.

The question is whether people who are mining LTC, or any of the other altcoins, are using them to purchase goods and services (i.e., commerce), or if they are sending them to exchanges to dump for BTC or fiat as soon as possible.

If the answer is the latter, then yes the price will continue to drop.

Indeed,

As i said before, All of ltc people is waiting for someone ELSE to come and create a service for ltc. No one try to create something for ltc.

At least if you cant do a step for ltc, Just don't hold it into your wallet, create transaction's (at least fake one's that transfer your money from one of your account to another account of yourself). Make the coins move in the network. this will help a lot.

[ElectricMucus]

At least if you cant do a step for ltc, Just don't hold it into your wallet, create transaction's (at least fake one's that transfer your money from one of your account to another account of yourself). Make the coins move in the network. this will help a lot.

Ok this is the second time you posted that shit. I encourage you to stop.

[BugSpirit]

Qiute a reasonable. Now litecoin are trading at volume like 100k a day and mining at 28800 a day. that's too much for todays price. And all that shit with LTC-global to add. I'll buy LTCs next to block halving time. I think the price will be close to 1$ or so.

[klee]

https://bitcointalk.org/index.php?topic=99497.msg3222593#msg3222593

LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.

[Buffer Overflow]

https://bitcointalk.org/index.php?topic=99497.msg3222593#msg3222593

LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.

More bad news.

[wizzardTim]

I believe LTC has bright future, MT-Gox will finally add it, doesn't matter when. It is sure that they will. Also, the developer of LTC left Google. He will help LTC in every way, and I'm sure he is very competent. LTC will never go down. Even if it goes it will be for a while. Then, it will climb up again. Remember the days BTC fell to 2$? Everyone can have a bad day..or two

[klee]

I believe LTC has bright future, MT-Gox will finally add it, doesn't matter when. It is sure that they will. Also, the developer of LTC left Google. He will help LTC in every way, and I'm sure he is very competent. LTC will never go down. Even if it goes it will be for a while. Then, it will climb up again. Remember the days BTC fell to 2$? Everyone can have a bad day..or two

MtGox is irrelevant - it will be only good for speculators and not people seriously investing in LTC long term.
Karpeles will rape it good.

You do know that LTC developer is now in Coinbase full time? I don't think he will be able to seriously contribute anymore - I doubt he is willing to deal with it anyway.

LTC is doomed!

-But it is second!!
Seriously??? SECOND??? THEN WHY NOT BE WITH No1?

-It's fast! Good for merchants!
RIPPLE. Hello?

-It is scrypt.
So what? 99% are. And probably scrypt mining will be dead soon, oh the irony. Trolls screaming at BTC-e that ASICs will kill BTC lol

[wizzardTim]

Don't know... only time will tell

[Buffer Overflow]

MT-Gox will finally add it, doesn't matter when.

I've never understood (even back when the rumour started) why the Litecoin crew get all over excited about the prospect of going on MtGox? Surely they want to avoid MtGox? Baffles me.

[Coinseeker]

At least if you cant do a step for ltc, Just don't hold it into your wallet, create transaction's (at least fake one's that transfer your money from one of your account to another account of yourself). Make the coins move in the network. this will help a lot.

Ok this is the second time you posted that shit. I encourage you to stop.

Literally LOL'd.   

[reb0rn21]

So many butthurt ppl here, one dumped at <1$ other bought asic which will never make profit, and now they LIE and FUD

The point none of them have any LTC and they can not DUMP, all they can do is spread shit and try to make panic

[milly6]

Atlantis gone for good means it's just another Bitcoin clone now, it had real potential for a while but what remains isn't worth the fuss.
The infamous mtgox adoption (which I still think was a april fools joke) becomes less and less relevant as gox is limping towards it's gave. There is a slim chance that they might get back into the land of the living again and continue with their plans. But that's doesn't justify a price of over $2 USD, or even above a Dollar.

I beg to differ. Atlantis going away, imo, will do wonders for Litecoin because that stigma will not be associated with Litecoin anymore. It can be the coin that could be used for everyday things.. and of course you can trade whatever you like for it in private and whatnot, but thats your business.. Just like BTC or USD or anything else! Same goes with the gox adoption. Someday gox will not be the behemoth of crypto that it is now and it won't matter what they do, IMO

[Buffer Overflow]

The time to speculate on litecoin was prior to the price going up, not during or after it came down from it's $5-$6 highs. People who started buying after March were coming in at the tail end as were people who began mining. I purchased a few thousand at 5c and sold them for $1-$2 during the initial price rise. Some might say, ignorantly I might add, that I sold too early yet they are too shortsighted to see that I made a much bigger return than anyone who purchased after the price rise.

The current price reflects mtgox speculation and hype. You are in denial if you believe litecoin becoming available on gox will do anything positive for the price at this point in time. It might have done so if it had become available much sooner but we're now towards the end of the year, anyone on mtgox has likely heard about litecoin and has had ample time to send bitcoins to one of the various new exchanges to purchase them. This, coupled with the truckload of scrypt coins now available, shows me that litecoin is vastly overvalued and will probably lose 90%+ of it's value if not 99% given more time. They continue to ignore the fact that the gox of 2013/2014 is not the gox of years past.

People never want to hear that they made a bad investment and some people will hold all the way to the bottom, losing everything in the process. If you're still holding with the idea you're going to sell to people on gox, I ask you, who exactly are these people you're going to sell the coins to for a much higher price? Bitcoin is still very niche, we're all still early adopters, there are no mom and pop people to offload your litecoins for bitcoins and that is what current value is predicated on and it's a farce.

I was fortunate enough to stumble upon the altcoin section of this forum in January which lead to me speculating on a small purchase and mining. Despite making a sizable profit, given what I have learned now via the forums and experience, I can say it was a mistake to purchase them and at this point in time, I wouldn't invest $1 into a single altcoin because that's a $1 that can go into my bitcoin holdings. You only have to look at the major strides Bitcoin has made this year to see the end is soon coming for altcoins.

I have no position in litecoin and therefore no bias. If I thought there was still an opportunity to make money, I would be mining/buying them but I can't see any upside at all.

A very well written informative post.

[xray]

The time to speculate on litecoin was prior to the price going up, not during or after it came down from it's $5-$6 highs. People who started buying after March were coming in at the tail end as were people who began mining. I purchased a few thousand at 5c and sold them for $1-$2 during the initial price rise. Some might say, ignorantly I might add, that I sold too early yet they are too shortsighted to see that I made a much bigger return than anyone who purchased after the price rise.

The current price reflects mtgox speculation and hype. You are in denial if you believe litecoin becoming available on gox will do anything positive for the price at this point in time. It might have done so if it had become available much sooner but we're now towards the end of the year, anyone on mtgox has likely heard about litecoin and has had ample time to send bitcoins to one of the various new exchanges to purchase them. This, coupled with the truckload of scrypt coins now available, shows me that litecoin is vastly overvalued and will probably lose 90%+ of it's value if not 99% given more time. They continue to ignore the fact that the gox of 2013/2014 is not the gox of years past.

People never want to hear that they made a bad investment and some people will hold all the way to the bottom, losing everything in the process. If you're still holding with the idea you're going to sell to people on gox, I ask you, who exactly are these people you're going to sell the coins to for a much higher price? Bitcoin is still very niche, we're all still early adopters, there are no mom and pop people to offload your litecoins for bitcoins and that is what current value is predicated on and it's a farce.

I was fortunate enough to stumble upon the altcoin section of this forum in January which lead to me speculating on a small purchase and mining. Despite making a sizable profit, given what I have learned now via the forums and experience, I can say it was a mistake to purchase them and at this point in time, I wouldn't invest $1 into a single altcoin because that's a $1 that can go into my bitcoin holdings. You only have to look at the major strides Bitcoin has made this year to see the end is soon coming for altcoins.

I have no position in litecoin and therefore no bias. If I thought there was still an opportunity to make money, I would be mining/buying them but I can't see any upside at all.

A very well written informative post.

If we all knew exactly what's ahead , we wouldn't be here speculating

[Wekkel]

All of this could have been said a year ago as well and probably the next few years too. Its simply a gamble, both litecoin and bitcoin. If OP has a time window in mind, I could relate to it. If not, its just taking one of the sides in the long term (highly successful or dead). Just imagine what will have become of bitcoin if litecoin would die.......

[Buffer Overflow]

At least if you cant do a step for ltc, Just don't hold it into your wallet, create transaction's (at least fake one's that transfer your money from one of your account to another account of yourself). Make the coins move in the network. this will help a lot.

Jesus, so this what the Litecoin crew are going to resort to. Try to scam everyone there's more transaction volume than there really is?

[Endgame]

https://bitcointalk.org/index.php?topic=99497.msg3222593#msg3222593

LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.

More bad news.

Actually that's good news for litecoin. A litecoin asic released at this time would alienate the GPU miner userbase. It would also damage one of litecoin's key differentiating factors. It's better for litecoin if asics come later on, when the currency is more established.

[klee]

https://bitcointalk.org/index.php?topic=99497.msg3222593#msg3222593

LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.

More bad news.

Actually that's good news for litecoin. A litecoin asic released at this time would alienate the GPU miner userbase. It would also damage one of litecoin's key differentiating factors. It's better for litecoin if asics come later on, when the currency is more established.

Are you serious? GPU mining is borderline already for litecoin - how are miners suppose to continue mining ltc without a huge spike in price?

The whole point of this thread was that not only there are no signs for price spike but probably we are going to a steep decline!

Add to this the skyrocketed mining difficulty and you get a nightmare scenario not only for litecoin holders but for all scrypt coins owners!

And I hold large amounts of scrypt based ANC, so I could be biased against the OP but truth is hard to ignore anymore...

[playtin]

As I've always said, LTC (and the other scrypt coins) need a REAL MARKET to have any long term value.  That means real services and other things to do with them other than dump them for BTC.  And no, two shitty gambling sites doesn't count.

Not sure which sites you are talking about, but https://playt.in is certainly not a shitty site

[klee]

As I've always said, LTC (and the other scrypt coins) need a REAL MARKET to have any long term value.  That means real services and other things to do with them other than dump them for BTC.  And no, two shitty gambling sites doesn't count.

Not sure which sites you are talking about, but https://playt.in is certainly not a shitty site

It can be used without LTC though...

EDIT: Market in itself is not the answer IMHO flound1129 - you need an alt with really unique features that make it a real alternative to BTC (like Mastercoin, maybe ANC and yes Ripple) PLUS a specialized marketplace that BTC CANNOT reach.

Another good example (regarding gambling) would be this coin: http://qixcoin.com/

[wizzardTim]

Guys, LTC started to fall bad, don't know when it will stop.

Maybe it will recover after MT-Gox. Have patience. We might see an LTC < 1$.

[klee]

The LTC community should focus on litecoin being adopted by Bitpay and not MtGox - that is why it will hit bottom soon!

[maxocoin]

https://bitcointalk.org/index.php?topic=99497.msg3222593#msg3222593

LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.

More bad news.

Actually that's good news for litecoin. A litecoin asic released at this time would alienate the GPU miner userbase. It would also damage one of litecoin's key differentiating factors. It's better for litecoin if asics come later on, when the currency is more established.

Are you serious? GPU mining is borderline already for litecoin - how are miners suppose to continue mining ltc without a huge spike in price?

The whole point of this thread was that not only there are no signs for price spike but probably we are going to a steep decline!

Add to this the skyrocketed mining difficulty and you get a nightmare scenario not only for litecoin holders but for all scrypt coins owners!

And I hold large amounts of scrypt based ANC, so I could be biased against the OP but truth is hard to ignore anymore...

I don't understand...

From my point of view (miner) I think that LTC ASIC will mean the same that in BTC, it will only we viable to mine for the big boys....
I don't know if that will help to the coin as a whole or not but I happy to keep it this way slow rise in difficulty because the only hash power comes from GPUs

MC

[worldtreasurefinders]

Many of the arguments made on this thread about why LTC will die are the same arguments made a couple years ago about why BTC would die.  The fact is, the whole cryptocurrency market is still very young, and there is a lot of potential to carry this market upward.  Does anyone really think that in the years ahead the market will demand BTC and nothing else?  Look at the history of money, there were always multiple tiers of value.  Gold > silver > copper being the easiest to compare with.  So, in the years ahead, as cryptocurrencies move more and more mainstream, the market will demand a tier of valued currencies to deal in.  If BTC continues to move upward, as many of us believe, and becomes more mainstream, as many of us hope, it will appear to be too valuable for smaller transactions.  Back in the day, people did not spend gold on small transactions, that's what silver and copper coins were for.  In the future, I believe something similar will happen with crypto coins, where people will use BTC for their savings and large purchases, and smaller coins like LTC and who knows what else for everyday purchases.

[lonesoul]

Many of the arguments made on this thread about why LTC will die are the same arguments made a couple years ago about why BTC would die.  The fact is, the whole cryptocurrency market is still very young, and there is a lot of potential to carry this market upward.  Does anyone really think that in the years ahead the market will demand BTC and nothing else?  Look at the history of money, there were always multiple tiers of value.  Gold > silver > copper being the easiest to compare with.  So, in the years ahead, as cryptocurrencies move more and more mainstream, the market will demand a tier of valued currencies to deal in.  If BTC continues to move upward, as many of us believe, and becomes more mainstream, as many of us hope, it will appear to be too valuable for smaller transactions.  Back in the day, people did not spend gold on small transactions, that's what silver and copper coins were for.  In the future, I believe something similar will happen with crypto coins, where people will use BTC for their savings and large purchases, and smaller coins like LTC and who knows what else for everyday purchases.

Im glad you said that, I think you hit the nail on the head.

I seem to recall BTC having huge spikes then plummeting back to the ground - Just look at April, up to 260, then down to under 80 by July.... thats a more drastic drop that LTC has seen, yet wait for it! omg Bitcoin continues.

[BobMarley]

I dissagree with the op Ltc is simply on the decline

[MAbtc]

Wow, can't remember the last time I saw LTC this low. 

[xray]

Thanks

[wheatrich]

The history of money suggests there will only be one currency and everything else will be worthless.  Stores only take one currency.

[Buffer Overflow]

Stores only take one currency.

Most shops accept Eastern Caribbean Dollars and US dollars in St. Lucia. I presume they still do, I haven't been in ten years.

[BitcoinEXpress]

Guys, LTC started to fall bad, don't know when it will stop.

Maybe it will recover after MT-Gox. Have patience. We might see an LTC < 1$.

Can you show where it has fallen "badly"??

http://www.ltc-charts.com/period-charts.php?period=ytd&resolution=day&pair=ltc-usd&market=btc-e



~BCX~

[worldtreasurefinders]

The history of money suggests there will only be one currency and everything else will be worthless.  Stores only take one currency.

Wrong on so many levels.  Show us one example in the entire monetary history of the world where there was only one currency and everything else was worthless. 

[klee]

The history of money suggests there will only be one currency and everything else will be worthless.  Stores only take one currency.

Wrong on so many levels.  Show us one example in the entire monetary history of the world where there was only one currency and everything else was worthless. 

It won't be worthless - it will be in the 0.00x range like almost all other alt coins. So sell now...

[Mahn]

The LTC community should focus on litecoin being adopted by Bitpay and not MtGox - that is why it will hit bottom soon!

Bitpay (like Bitstamp I believe) is strongly against Litecoin. Not gonna happen unless LTC explodes first.

[klee]

The LTC community should focus on litecoin being adopted by Bitpay and not MtGox - that is why it will hit bottom soon!

Bitpay (like Bitstamp I believe) is strongly against Litecoin. Not gonna happen unless LTC explodes first.

Yes I am aware, just wanted to point out the kind of adoption LTC users should push for and not the speculative kind only.
I guess they will get what they deserve in the end..

[tacotime]

Coblee is on the coinbase team now, and it's his cryptocurrency.  I'm guessing it's only a matter of time before it hits there.

Everyone knows that PPC is going to explode before then, though, because PPC block reward is expected to dive below 50 with the introduction of ASICs.  Hence the recent shift in the market towards PPC.

[wizzardTim]

OMG LTC is up!!! GOX news!! HURRY

[Amph]

stop dump them in to btc, they'll be fine

[Keldel]

http://www.cryptocoincharts.info/period-charts.php?period=6-months&resolution=day&pair=ltc-btc&market=btc-e

Do what you want, but I'm selling my LTC as soon as mine them.

[Tomatocage]

I think this thread is largely lost among those of us who are still trying to get used to LTC breaking the $.10 barrier

[ElectricMucus]

I'm not sure if that has been posted yet...

http://www.theverge.com/2013/9/26/4773902/shuttered-underground-drug-market-atlantis-ran-off-with-customers-money