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Author Topic: Litecoin volume will soon surpass Bitcoin beacuse people think its 'cheaper'  (Read 2320 times)
integrity42
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November 28, 2013, 12:08:24 AM
 #1

Litecoin traded $70 million in volume on BTC-e in the past day or so.  Soon it will be 1/2 Bitcoin volume, or even match it.

Since october bitcoin went from $100 to $1000, litecoin went from $1 to $35 (and climbing).  Litecoin has been a 350% better investment.

I have friends who just told me that they were thinking about buying Bitcoin, but they're going to give Litecoin a try because its 'cheaper' and might to go to $1000 like bitcoin. This is the problem that I said would happen many posts ago.  The psychology aspect is now playing a roll because we haven't switched to 'bits' aka 100 satoshi as the base unit.

I'm going to convert 1/4 of my BTC as a hedge incase money starts flowing out of Bitcoin and into Litecoin.  I suggest everyone else do the same as well.  I also think the fact that it is GPU based is also a big driver for usage. This is not the case with Bitcoin where specialized ASIC hardware is required, and the only way to get it is by taking a financial loss as the ASIC companies sell it for more then its worth.
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November 28, 2013, 12:36:52 AM
 #2

Litecoin traded $70 million in volume on BTC-e in the past day or so.  Soon it will be 1/2 Bitcoin volume, or even match it.

Since october bitcoin went from $100 to $1000, litecoin went from $1 to $35 (and climbing).  Litecoin has been a 350% better investment.

I have friends who just told me that they were thinking about buying Bitcoin, but they're going to give Litecoin a try because its 'cheaper' and might to go to $1000 like bitcoin. This is the problem that I said would happen many posts ago.  The psychology aspect is now playing a roll because we haven't switched to 'bits' aka 100 satoshi as the base unit.

I'm going to convert 1/4 of my BTC as a hedge incase money starts flowing out of Bitcoin and into Litecoin.  I suggest everyone else do the same as well.  I also think the fact that it is GPU based is also a big driver for usage. This is not the case with Bitcoin where specialized ASIC hardware is required, and the only way to get it is by taking a financial loss as the ASIC companies sell it for more then its worth.

Agreed. I've converted over 75% of my BTC at the moment to other currencies. It's like a leveraged bet on bitcoin.

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November 28, 2013, 12:37:56 AM
 #3

You're talking about btc-e alone. Add up all the exchanges and see what you get.

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November 28, 2013, 12:55:08 AM
 #4

LTC at $40 is ridiculous. I'm sat on some but that's just silly, watch yourselves...
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November 28, 2013, 12:57:53 AM
 #5

LTC is becoming a megabubble. Blood on the streets coming soon to a theater near you.

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November 28, 2013, 01:15:17 AM
 #6

What happens when Litecoin becomes "too expensive?" Will the new comers all switch to Feathercoin?

I do agree though, that it's past time to switch to mBTC and that perception of BTC being "too expensive" might actually be a reason why alt-coins are doing well.

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November 28, 2013, 02:47:15 PM
 #7

What happens when Litecoin becomes "too expensive?" Will the new comers all switch to Feathercoin?

I do agree though, that it's past time to switch to mBTC and that perception of BTC being "too expensive" might actually be a reason why alt-coins are doing well.
Why would anyone go to feathercoin?

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November 28, 2013, 03:24:18 PM
 #8

I agree with all said. I am a new(ish) user trying to get in on the 'bottom floor' of one currency or another. Had some btcs but sold at $100  Cry.

Had been looking hard at litecoin but seems like it's going obviously parabolic now. Now looking at other alternatives.

Any suggestions? peercoin looking like a decent bet...
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November 28, 2013, 03:33:34 PM
 #9

What happens when Litecoin becomes "too expensive?" Will the new comers all switch to Feathercoin?

I do agree though, that it's past time to switch to mBTC and that perception of BTC being "too expensive" might actually be a reason why alt-coins are doing well.
Why would anyone go to feathercoin?

I'm guessing because it's going to be less expensive, and give you more coins. Anyway, Daily Anarchist is right.
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November 28, 2013, 09:40:40 PM
 #10

What happens when Litecoin becomes "too expensive?" Will the new comers all switch to Feathercoin?

I do agree though, that it's past time to switch to mBTC and that perception of BTC being "too expensive" might actually be a reason why alt-coins are doing well.
Why would anyone go to feathercoin?

I'm guessing because it's going to be less expensive, and give you more coins. Anyway, Daily Anarchist is right.
Considering the percentage growth, there is low interest in FTC.

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November 28, 2013, 10:03:22 PM
 #11

What happens when Litecoin becomes "too expensive?" Will the new comers all switch to Feathercoin?

I do agree though, that it's past time to switch to mBTC and that perception of BTC being "too expensive" might actually be a reason why alt-coins are doing well.

I also agree that the price of BTC is just too high right now and will only get higher, it will be a coin used for major institutions to transfer funds but not for everyday people to use, as was previously though. Bitcoin must implement the mBTC units, or it will shoot itself in the foot. That is why the alts are doing so well, they have the ability to look reasonably priced and let's face it, if a company can process BTC it can process any other altcoin too, so BTC better be above the game.

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November 28, 2013, 10:06:19 PM
 #12

There's nothing innovative about litecoin. It's just bitcoin with slight changes. The only reason people are piling in is because they feel they missed the bitcoin train. I've nothing against it and have no problem with it being silver to bitcoin's gold but I'd prefer to support an alt that was truly innovative and offered something new.
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November 29, 2013, 04:22:24 AM
 #13

The big institutions will be using Bitcoin. It's what all the media is talking about. It has the most proven track record. It's what all the VC's and the money managers are pouring their money into right now. It's a big enough step for the institutions to get into Bitcoin. They're not going to go out on a ledge and choose an even more obscure cryptocurrency, just for the hell of it.

The only people buying Litecoins right now are those that think Bitcoin is "too expensive."

But I do agree. Bitcoin is being hurt because Bitpay, Coinbase, Bitcoinity, etc. have not implemented mBTC yet. I'm tired of buying things online for 0.00x BTC. That's lame.

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November 29, 2013, 04:26:54 AM
 #14

Most people associate litecoin with koolio and fontas. The two biggest fuckheads are litecoins two biggest supporters. I avoid ltc for this reason


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November 29, 2013, 04:31:41 AM
 #15

I would expect more coins to converge to bitcoin's value. This includes litecoin as their architecture improves and it becomes mainstream  whilst the flaws of bitcon are revealed. It will be good until litecoin's flaws are revealed and it moves onto another coin and then another one. The problem at the moment is that some coins should be going backwards due to their flaws but are instead going up due to speculative actions...

Eventually a perfect coin will be found that will retain it's value.

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November 29, 2013, 06:15:26 PM
 #16

Most people associate litecoin with koolio and fontas. The two biggest fuckheads are litecoins two biggest supporters. I avoid ltc for this reason
You're missing out on quite a lot just because of that.

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