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Author Topic: I'm sad to say it but the Litecoin pipedream is over.  (Read 9591 times)
NWO
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September 23, 2013, 10:59:19 AM
 #41

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  Shocked it has ZERO services yet demands a much higher price than LTC.
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CoinBuzz
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September 23, 2013, 01:53:06 PM
 #42

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  Shocked it has ZERO services yet demands a much higher price than LTC.

me too

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September 23, 2013, 02:38:28 PM
 #43


I want to know how the hell NVC is priced so high  Shocked 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.
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September 23, 2013, 02:43:13 PM
 #44

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  Shocked 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.

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September 23, 2013, 03:04:35 PM
 #45

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.   Roll Eyes

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September 23, 2013, 03:10:58 PM
 #46

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 :-)

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September 23, 2013, 03:18:56 PM
 #47

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?

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September 23, 2013, 03:27:20 PM
 #48

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?  

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September 23, 2013, 03:29:53 PM
 #49

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?

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September 23, 2013, 03:34:37 PM
 #50

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.














 

 

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September 23, 2013, 03:35:51 PM
 #51

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.

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September 23, 2013, 03:40:26 PM
 #52

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.

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September 23, 2013, 04:29:02 PM
 #53

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.

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September 23, 2013, 05:13:43 PM
 #54

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?
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September 23, 2013, 05:24:35 PM
 #55

so what should I do with my LTC now that they're worthless?
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September 23, 2013, 05:30:16 PM
 #56

Give them to me for free!  Grin
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September 23, 2013, 05:35:05 PM
 #57

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?


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September 23, 2013, 05:36:09 PM
 #58

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.

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September 23, 2013, 05:48:07 PM
 #59

Wait for BTC price to dip, trade LTC for BTC.  Hold as BTC untl BTC price jumps again.  Sell BTC.  Profit + profit! Grin
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September 23, 2013, 06:22:45 PM
 #60

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.

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