Why the loss of confidence in litecoin?

[Raize]

Can anyone confirm to me at $0.10/kWh if mining LTC is starting to get to close to unprofitable?

[1714111920]

1714111920

[TracerX]

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.

I hate to call you out, but the "Chat Box, Whales and Pumpers" _are_ what moves the coins on an exchange on any given day.  Same as any non-news day on the stock exchange.

LTC has a solid technical difference from BTC, and it has the second largest support infrastructure.  What would cause that, realistically, to change?  Alt-coins, with few exceptions, are clones of BTC or LTC.  Most merchants accept BTC and LTC now, I can't see them wanting to accept 50 different types, even if a payment gateway automates the process.

I'm not dissuaded by troll boxes because I spend my spare time watching what type of actual support is building from merchants and services.  These aspects of any crypto-coin are tenfold more important than the movement of exchanges, and will ultimately reveal what coins become mainstream.  So many of these coins were created to trade, or for fun or as a proof of concept.  I'm all for that, but LTC has services, merchants and uses outside the exchanges--unlike almost any other coin in my portfolio.

[MAbtc]

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

I am always frustrated by cryptsy. I really only use it at this point to dump crap altcoins because liquidity is very low there. Every time you place a limit order, bots repeatedly move orders 1 satoshi (or similar) above you, and since there is no liquidity/movement, your order never gets filled. I stick to BTC-E.

[QuantPlus]

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.

I hate to call you out, but the "Chat Box, Whales and Pumpers" _are_ what moves the coins on an exchange on any given day.  Same as any non-news day on the stock exchange.

LTC has a solid technical difference from BTC, and it has the second largest support infrastructure.  What would cause that, realistically, to change?  Alt-coins, with few exceptions, are clones of BTC or LTC.  Most merchants accept BTC and LTC now, I can't see them wanting to accept 50 different types, even if a payment gateway automates the process.

I'm not dissuaded by troll boxes because I spend my spare time watching what type of actual support is building from merchants and services.  These aspects of any crypto-coin are tenfold more important than the movement of exchanges, and will ultimately reveal what coins become mainstream.  So many of these coins were created to trade, or for fun or as a proof of concept.  I'm all for that, but LTC has services, merchants and uses outside the exchanges--unlike almost any other coin in my portfolio.

Let me put it another way...
It's the MARGINAL movement of capital BETWEEN Alt Coins that affects prices...
Not some perceived, imaginary real-world use or "community".

These are Tiny Cap Alts, baby. (Not Bitcoin).

When both XPM and WDC tripled in the last 2 weeks...
The Whales you think don't matter took $1,000,000 out of LTC...
And pumped the shit out of XPM and WDC... you have to watch it happen to appreciate it.

You might think $1 million out of a $40 million cap is trivial...
But on a MARGINAL basis in terms of exchange pricing...
It's large enough to drop-kick LTC by 10-20%... and the BTC spike did the rest.

Sunny King's coins are more than "proof of concept", Market Cap = $8,300,000...
Alt Pumpers are VERY sophisticated... and show them a lot more respect than LTC.

[zebedee]

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.

This! It's a good opportunity to buy LTC now. It most likely won't go below 0.01 btc.

There's a bet for that:

http://bitbet.us/bet/525/litecoin-to-fall-below-01-btc-before-2014/?ref=17SY2XwzgViNLrNhELPYpj7ps1FokqfFBN

[Buffer Overflow]

My explanation is that the fall in prices is due to so many people mining litecoins that don't really want them -- so they sell them.

There are a lot of miners out there that are mining litecoins because they have GPU rigs that can no longer mine bitcoins.  You see this advice all over the forums, "Use your GPU to mine litecoins, and then trade them for bitcoins."

I think this is spot on. Most only mined Litecoin to exchange for Bitcoin at some unknown future date. This of course is unsustainable.

[kokjo]

Litecoin has no merchants, Litecoin does not have any significant features that Bitcoin does not(nobody cares about the hashing algorithm, except the angry cpu miners that got left behind). The only driving force behind Litecoin is speculation by stupid people, that does not realize that they are worthless.

Im not saying that altcoins are bad or they will all die, but litecoin will not survive becuase its too similar to bitcoin, and we already have bitcoin. A altcoin that could survive or even have a symbiotic relationship with bitcoin, could for example be one where miners could spend others coins after a specific number of blocks. This could reduce the txout set, by the transactions where the key has been lost. Bitcoin could then become long term storage of value, and this new altcoin could become a everyday coin where its only your own loss that you lose your keys, and not the networks.

[goxed]

Litecoin is special for the mass adoption by merchants and people accepting it as payment. The network is solid.
The only coin that can stand in the shadow of Bitcoin.

is this English?

who carez? this iz not grammer skool, itz an onlien forum

[kokjo]

Litecoin is special for the mass adoption by merchants and people accepting it as payment. The network is solid.
The only coin that can stand in the shadow of Bitcoin.

is this English?

who carez? this iz not grammer skool, itz an onlien forum

The problem is the signal-to-noise ratio... when english is written poorly its meaning is lost, obfuscated, or worse. I don't care about grammar, as long as stuff is understandable.

[Netnox]

Don't believe people who hating on LTC so much, these are the impatient types who come and mumble some BS or very unexperienced with investing/trading in general. Also go and read the Litecoin AMA on Reddit instead of asking people who don't care about you. Same goes for trollbox. LTC has a very bright future

[Netnox]

This has nothing to do with "hate". Keep deluding yourself.

The AMA on reddit was pretty pathetic as far as redditors go - and while the dev team is competent, they don't offer anything of interest.

Your a joke

[Buffer Overflow]

There appears to be some concerns over Litecoin Foundation. Don't know if this has been resolved as of yet?

https://bitcointalk.org/index.php?topic=313210.0;all

[Netnox]

Your a joke

Please explain why, then, you've only said empty statements like "bright future".
Also, "you're".

There has been plenty of information about Litecoin. I'm sure you have read them, but still not convinced. Makes me think when people where bashing Bitcoin in it's early days, look where it's now. I would say time will answer your question

[Buffer Overflow]

Don't believe people who hating on LTC so much, these are the impatient types who come and mumble some BS or very unexperienced with investing/trading in general.

I don't believe people hate Litecoin. It's just most people were using it as a tool to obtain more Bitcoins than they could mine otherwise. That's been and gone now, they got what they wanted and now have no further use for it. For the time being anyway.

[Pokerfan]

I think bitcoin has a future and litecoin has none. If litecoin has no future, then you are losing money by holding litecoin and not bitcoin.

[kokjo]

Your a joke

Please explain why, then, you've only said empty statements like "bright future".
Also, "you're".

There has been plenty of information about Litecoin. I'm sure you have read them, but still not convinced. Makes me think when people where bashing Bitcoin in it's early days, look where it's now. I would say time will answer your question

The problem is that in the early days of bitcoin, bitcoin did not already exist. Bitcoin was and is an bright innovation.


Bitcoin now exists, and Litecoin is only reinventing the wheel.

I don't hate Litecoin, i just don't care about it.

[Lohoris]

because litecoin brings nothing significant to the table that bitcoin does not have.

+1

[Pokerfan]

because litecoin brings nothing significant to the table that bitcoin does not have.

+1

[btbrae]

I have LTC but it's a hedge against something unforseen happening to Bitcoin. I have other alts but I still see LTC as the silver and no other alt so far is a threat in that regard (just my opinion). Some people like XPM because it's scientific and fair enough but again IMO it's science of finding primes is of very limited value and results so far seem very "meh".

The bigger question is if both of these fail then there are going to be some big questions hitting altcoin investors and you could see the demise of altcoins in their current form altogether, and perhaps a move to software that sits above the Bitcoin protocol rather than alongside it.

[NewLiberty]

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

CoinMKT has it on exchange too.