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Author Topic: Why the loss of confidence in litecoin?  (Read 13698 times)
Snail2
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October 18, 2013, 02:52:36 PM
 #21

very low amount of coding needed.
It has no real features anyways.

Especially because scrypt have been implemented earlier in Tenebrix.
BTW I like LTC but I must agree there are not much development or new features. I follows the latest BTC code with very little changes, instead of trying to find new ways or adding more features.
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October 18, 2013, 02:57:42 PM
 #22

Litecoin kicks puppies and steals candy from little kids. I heard it once pushed down an old man for no reason. It was just in a bad mood or something.

On the other hand, Bitcoin works hard, gets good grades, and always eats its vegetables.
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October 18, 2013, 03:08:52 PM
 #23

... AND has good developers.

Isn't Litecoin just a Bitcoin with some numbers multiplied by 4? Is there any development required?

Its hashing algorithm is totally different (the memory-intensive Scrypt instead of SHA-256).

Scrypt idea was borrowed from Tenebrix and Fairbrix.

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October 18, 2013, 03:12:19 PM
 #24

There isn't any good news for Litecoin. Wait till you see "MtGox Litecoin has arrived". Booom, litecoin at $20.

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October 18, 2013, 03:30:59 PM
 #25

true, but still insignificant compared

it will never be until someone comes out with ltc asic.

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October 18, 2013, 04:09:57 PM
 #26

There isn't any good news for Litecoin. Wait till you see "MtGox Litecoin has arrived"

And you would class that as good news?

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October 18, 2013, 04:22:36 PM
 #27

Litecoin kicks puppies and steals candy from little kids. I heard it once pushed down an old man for no reason. It was just in a bad mood or something.

On the other hand, Bitcoin works hard, gets good grades, and always eats its vegetables.

Litecoin shot a man in Reno, just to watch him die.



In all semi-seriousness, BTC is up and LTC isn't on Gox (no surprises there). IIRC, something similar happened the last time Gox made a "we're gonna support LTC!" announcement, so I'm not surprised it's happened again.

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October 18, 2013, 04:39:05 PM
 #28

Dunno why everybody is panicking. The exact same thing happened to Bitcoin a couple years ago (2011 some time) when it slowly slid down to $1.96'ish. The non-early adopters were crying about how expensive BTC was, even at $1.96. Those who bought at the peak were crying about how much the price diminished from the $32 high or whatever it was. Seemed like everybody was crying about something, but a few of the wiser ones (or really lucky guessers) were saying, "You want cheap BTC, here's your chance." Turns out they were right, and it looks like LTC is following a similar trajectory.

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October 18, 2013, 05:46:20 PM
 #29

Break it down for me - crypto for dummies  Grin

Maybe because newer coins with more innovative features are gaining popularity. 
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October 18, 2013, 05:51:28 PM
 #30

Dunno why everybody is panicking. The exact same thing happened to Bitcoin a couple years ago (2011 some time) when it slowly slid down to $1.96'ish. The non-early adopters were crying about how expensive BTC was, even at $1.96. Those who bought at the peak were crying about how much the price diminished from the $32 high or whatever it was. Seemed like everybody was crying about something, but a few of the wiser ones (or really lucky guessers) were saying, "You want cheap BTC, here's your chance." Turns out they were right, and it looks like LTC is following a similar trajectory.

That illustrates what CAN happen, but not necessary what WILL happen.

The cryptoworld was a very very different place back then. Quick example, we have about 70 other altcoins to choose from now.

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October 18, 2013, 06:29:58 PM
 #31

name just one better alt coin with his own network which is evenly distributed to ppl

pls don`t say XPM which is ruled by 50+ % by botnets and ppl having power to abuse big server clouds for free (who want a coin which is mined by thief?)

also working scrypt fpga will be out in ~2 months

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leoragraves666
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October 18, 2013, 06:41:50 PM
 #32

There is a loss of confidence because gox didn't happen, people are waitng from April I think. Also there is that thing where a lot of miners are hoarding LTC with the idea that they will all earn huge amounts of money. And when there are a lot of people that know a "trick" to make money, it stops being a trick anymore  Wink

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October 18, 2013, 06:46:02 PM
 #33

Litecoin market cap is several times bigger than all of the other alt coins put together. It's also known in the wider community as the 'number 2 coin' behind Bitcoin. Then there is it's active development team - see the six month development road plan here http://www.reddit.com/r/litecoin/comments/1o3fdz/we_are_the_litecoin_dev_team_ama/ccr2my7. Also factor in that Litecoin gets lots of media mentions off the back of Bitcoin and has had a ton more media exposure than any other alt coin. Litecoin also has Coblee the one of the developers, who is very well connected in the crypto community (connections make things happen more than anything)... he works for Coinbase and his brother is CEO of btcchina the third largest bitcoin exchange atm.

Remember, Litecoin made huge gains from 5 cents when Bitcoin bubbled upwards. Imo Bitcoin is thinking about bubbling again... that will bring fresh money in and they will feel like they've missed the boat until they do five minutes research and find out that the second most popular coin is less than 2 dollars and has been confirmed by mark karpeles mtgox ceo as going on mtgox when their new trading engine is complete.

As for the loss in alt value, it's people selling their alts to buy Bitcoin and ride the Bitcoin bubble back up again. Trust me the time to buy is when the currency slowly fades in value. When the trend reverses, it will spike very quickly.


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Johnny Bitcoinseed
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October 18, 2013, 07:12:43 PM
 #34

Where are the best places to purchase or otherwise obtain litecoin?

Sincerely I am, Johnny BitcoinSeed .com
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October 18, 2013, 07:34:17 PM
 #35

Where are the best places to purchase or otherwise obtain litecoin?

Usually btc-e, but you can also try asking in the alt-coin trade part here

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October 18, 2013, 07:39:58 PM
 #36

Where are the best places to purchase or otherwise obtain litecoin?


i recomend cryptsy.com

is year always alt coins normal official and real exchanges stable rate % fee

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October 18, 2013, 07:48:17 PM
 #37

Just speculating here but.. maybe many people bought in on the MtGox talk. And now that Gox is in an uncertain position + it's taking a long time for LTC to appear there + BTC price is going up again = lots of people would rather hold BTC because they've lost confidence in Gox more so than LTC, and they're impatient.

So, to summarize: I don't think people lost confidence in LTC, they lost it in Gox. And they're losing patience so returning to BTC instead.

Personally I still like LTC - but because of the above it was probably overvalued for a long time.
i agree with much of this. with btc's bull run, people want out of most alts anyway to ride the bull. plus, the many pump and dumps based on mt gox rumors eventually fizzled out -- many finally dumped for good, thinking that since so much time has passed and hype died down, that potential gains aren't that big even if if goes to gox.
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October 18, 2013, 08:26:54 PM
 #38

Those who bought at the peak were crying about how much the price diminished from the $32 high or whatever it was. Seemed like everybody was crying about something, but a few of the wiser ones (or really lucky guessers) were saying, "You want cheap BTC, here's your chance." Turns out they were right, and it looks like LTC is following a similar trajectory.

https://bitcointalk.org/index.php?topic=53949.0

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October 18, 2013, 08:31:45 PM
 #39


If you trade Alts all day...
And keep an eye on the Chat Box, Whales, and Pumpers...
You get the best information on what's moving coins.

IMO, in terms of LTC:

(1)  BTC up... Alts down (it's the same money flowing).

(2)  Traders rarely talk of pumping LTC... just how dull it is.

(3)  LTC is no longer Locked at #2...   
LTC $40,000,000... rest of Alt Space $20,000,000...
Some coins will take a serious run at LTC in the next 6 months.

What was that $20 million 6 months ago? It was tiny... maybe 10% of that.

When, not if, Alt Space grows from $20 million to $100 million (maybe 6-12 months)...
You will see a lot of quality coins bunched together and jockeying for position.

(4)  I doubt that Gox matters at all...
When you have BTC-e, MCX, and Cryptsy... plus new exchanges in the pipeline.

Gox is just a desperate straw LTC bag-holders are grasping.
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October 18, 2013, 09:07:20 PM
 #40

Where are the best places to purchase or otherwise obtain litecoin?

I like RS' new MCXnow exchange, but there are a number to choose from.  I list the main exchanges on http://weuselitecoins.com/trading/.

The development team for LTC does seem to be active, they are putting together a foundation, and have an actual roadmap.  Who knows how it will all pan out?  LTC has just as good of a chance as any other the others, and the second largest network of miners, merchants and developers.
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