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Author Topic: I'm sad to say it but the Litecoin pipedream is over.  (Read 9591 times)
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September 24, 2013, 08:22:37 PM
 #81

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.

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September 24, 2013, 08:24:46 PM
 #82

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


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September 24, 2013, 09:22:26 PM
 #83

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

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September 24, 2013, 09:27:49 PM
 #84

Don't know... only time will tell

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September 24, 2013, 09:35:21 PM
 #85

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.

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September 24, 2013, 10:15:36 PM
 #86

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.   Grin

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September 24, 2013, 11:02:06 PM
 #87

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

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

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September 25, 2013, 12:11:07 AM
 #88

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

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September 25, 2013, 04:21:31 AM
 #89

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.

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September 25, 2013, 06:02:11 AM
 #90

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
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September 25, 2013, 06:52:48 AM
Last edit: September 25, 2013, 10:03:57 AM by Wekkel
 #91

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.......

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September 25, 2013, 06:54:07 AM
 #92

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?

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September 25, 2013, 11:21:51 AM
 #93

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.
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September 25, 2013, 11:46:58 AM
 #94

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...
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September 25, 2013, 11:49:43 AM
 #95

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 Wink

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September 25, 2013, 11:54:36 AM
 #96

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 Wink
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/
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September 25, 2013, 10:11:35 PM
 #97

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$.

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September 25, 2013, 10:28:10 PM
 #98

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

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September 25, 2013, 11:25:59 PM
 #99

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
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September 26, 2013, 02:28:18 PM
 #100

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.

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