Charlie Lee thinks LTC is in a bubble

[Dalmar]

Straight from the horse's mouth:

http://www.youtube.com/watch?v=xPQ_uVCUTUI&t=18m35s

[El Dude]

your a retard , that's not what he said at all.

[Dalmar]

your a retard , that's not what he said at all.

He clearly said that there is rampant speculation and that Litecoin is 1.5 yrs behind BTC. Interpret it how you want.

Also, lol @ calling me a retard when you don't even know the difference between your and you're.

[El Dude]

your a retard , that's not what he said at all.

He clearly said that there is rampant speculation and that Litecoin is 1.5 yrs behind BTC. Interpret it how you want.

every coin is speculation at this point , anyways if you posted this to try and make Litecoin look like a overpriced pump and dump , you failed .


this is a great interview and this dev team is the reason litecoin is the 2nd most popular crypto coin.

[piramida]

your a retard , that's not what he said at all.

He clearly said that there is rampant speculation and that Litecoin is 1.5 yrs behind BTC. Interpret it how you want.

every coin is speculation at this point , anyways if you posted this to try and make Litecoin look like a overpriced pump and dump , you failed .


this is a great interview and this dev team is the reason litecoin is the 2nd most popular crypto coin.

Nice dev team & community is about all that there is for LTC; this is just like bitcoin during 2011. i.e., 100 million valuation may be reasonable, 1 billion, no, not really.

I think the main reason here is stupidity. LTC is a nice coin, but valuing it by the current BTC price is just crazy. BTC has evolved far beyond LTC now, so the fair price for ltc would be around $1. Maybe $5, if in a peaking bubble-mode. $50? yes right, also don't forget to pick up some $50k BTC while you are buying overvalued coins.

[El Dude]

your a retard , that's not what he said at all.

He clearly said that there is rampant speculation and that Litecoin is 1.5 yrs behind BTC. Interpret it how you want.

every coin is speculation at this point , anyways if you posted this to try and make Litecoin look like a overpriced pump and dump , you failed .


this is a great interview and this dev team is the reason litecoin is the 2nd most popular crypto coin.

nice dev team & community is about all that there is for LTC; this is just like bitcoin during 2011. i.e., 100 million valuation may be reasonable, 1 billion, no, not really.

lol in that case , peercoin and every other coin should have a 1 million marketcap.

anything could happen ,throwing numbers around is foolish

[piramida]

lol in that case , peercoin and every other coin should have a 1 million marketcap.

anything could happen ,throwing numbers around is foolish

Yes they should. No, throwing numbers around is not foolish. Throwing money around at overvalued crap *is* foolish

[El Dude]

lol in that case , peercoin and every other coin should have a 1 million marketcap.

anything could happen ,throwing numbers around is foolish

Yes they should. No, throwing numbers around is not foolish. Throwing money around at overvalued crap *is* foolish

but litecoin is not overvalued crap , every other scamcoin is.

[piramida]

lol in that case , peercoin and every other coin should have a 1 million marketcap.

anything could happen ,throwing numbers around is foolish

Yes they should. No, throwing numbers around is not foolish. Throwing money around at overvalued crap *is* foolish

but litecoin is not overvalued crap , every other scamcoin is.

Yes it is, at the moment.

Again, not saying LTC has no place under the sun - it very well might have. I would advise anyone from buying in at this point, though. I'd delay buyin for several months and get LTC when at low single digits. If you already bought - hodl, ofc, but be ready to get more lower. It is not bitcoin. It does not have real money behind it. It can crash not 30% but 99% easily. Should always remember that.

[GigaCoin]

Straight from the horse's mouth:

http://www.youtube.com/watch?v=xPQ_uVCUTUI&t=18m35s

It maybe be behind bitcoin, but he states a lot of things are under development so it will catch up very soon in terms of infrastructure. It's also ahead every other major coin out there like PPC, xpm, etc.

He never said it's in a bubble, its a fact that every coin's price is currently determined by speculation.

[nastybit]

lol in that case , peercoin and every other coin should have a 1 million marketcap.

anything could happen ,throwing numbers around is foolish

Yes they should. No, throwing numbers around is not foolish. Throwing money around at overvalued crap *is* foolish

but litecoin is not overvalued crap , every other scamcoin is.

Yes it is, at the moment.

Again, not saying LTC has no place under the sun - it very well might have. I would advise anyone from buying in at this point, though. I'd delay buyin for several months and get LTC when at low single digits. If you already bought - hodl, ofc, but be ready to get more lower. It is not bitcoin. It does not have real money behind it. It can crash not 30% but 99% easily. Should always remember that.

This argument is old, get real.
bitcoin was nowhere near where it is now just a year ago.

[piramida]

bitcoin was nowhere near where it is now just a year ago.

You checked the charts to see that bitcoin was at $10 just a year ago, before posting this, right? So you are making my argument here, LTC fair price now is in single digits, everything else is just stupidity by late train catchers who are somehow positive that in a year LTC will be where BTC is now. Unfortunately it is not a fact, that is why bitcoin was $10 last year - not $1000.

[El Dude]

lol in that case , peercoin and every other coin should have a 1 million marketcap.

anything could happen ,throwing numbers around is foolish

Yes they should. No, throwing numbers around is not foolish. Throwing money around at overvalued crap *is* foolish

but litecoin is not overvalued crap , every other scamcoin is.

Yes it is, at the moment.

Again, not saying LTC has no place under the sun - it very well might have. I would advise anyone from buying in at this point, though. I'd delay buyin for several months and get LTC when at low single digits. If you already bought - hodl, ofc, but be ready to get more lower. It is not bitcoin. It does not have real money behind it. It can crash not 30% but 99% easily. Should always remember that.

If you would of listen to the interview , they said a major retailer for bitcoin is planing to also accept litecoin. Real money is around Litecoin , not buying LTC now  = regret later.

[Richard Branson]

bitcoin was nowhere near where it is now just a year ago.

You checked the charts to see that bitcoin was at $10 just a year ago, before posting this, right? So you are making my argument here, LTC fair price now is at $1, everything else is just stupidity by late train catchers who are positive that in a year LTC will be where BTC is now. The thing is, it is not a fact yet, that is way bitcoin was $10 last year and not $1000.

Bitcoin is as overvalued as Litecoin is.
The "real" value of bitcoin is in the range of 30-60$, if you compare the facts -> business adoption (increase since jan 2013), transactions, ... it's about 50-60%! Not 5000%. So it's clearly overvalued. But I'm still holding  
It's allways funny to gamble with money you don't care to lose. And Crypto Coins are a hell of a gamble.


BTW:
99% of the Bitcoin ASIC Mining Hardware won't ever reach ROI... But there are enough buyers that can't calculate simple things. Bitcoin profits a lot from stupid price chasers.

[piramida]

If you would of listen to the interview , they said a major retailer for bitcoin is planing to also accept litecoin. Real money is around Litecoin , not buying LTC now  = regret later.

They also plan to put a man on Mars, does not mean you should be buying Martian parcels just yet. Litecoin is all plans at this point, so the current valuation is unfounded.

I already bought litecoins and sold during this unsustainable bubble that is deflating now. Not going to buy back above $5 for now, thanks, I'll hold BTC which I know are already an accepted commodity Not a plan.

[piramida]

99% of the Bitcoin ASIC Mining Hardware won't ever reach ROI... But there are enough buyers that can't calculate simple things. Bitcoin profits a lot from stupid price chasers.

That is in case difficulty rate increase does not slow down. And also, some people don't give a flying dick about ROI, they just want to support the network and their coins. All the tiny greedy miners moved to altcoins by now, while BTC hashing is for serious players only, who won't jump to another coin in a heartbeat.

[GigaCoin]

99% of the Bitcoin ASIC Mining Hardware won't ever reach ROI... But there are enough buyers that can't calculate simple things. Bitcoin profits a lot from stupid price chasers.

That is in case difficulty rate increase does not slow down. And also, some people don't give a flying dick about ROI, they just want to support the network and their coins. All the tiny greedy miners moved to altcoins by now, while BTC hashing is for serious players only, who won't jump to another coin in a heartbeat.

We may see dips in LTC but $5 / LTC just not gonna happen, that also means you're calling for $1PPC, $0.5 XPM and various other coins with near zero infrastructure. That's ALOT of money out of the system.

There are a lot of developments around Litecoin that will happen in 2014 along with major exchanges adoption.

[lonesoul]

Is the 1.5 years actually a sensible figure though?

just think of how quickly things get adopted - Twitter adoption was faster than Facebook, Facebook adoption was faster than Myspace, as things progress and people become aware of the preceding tech  the adoption process becomes easier and easier.

if bitcoin was $10 a year ago and Litecoin is already at $25 (on btc-e at time of posting) surely that means we are already less than a year behind....

sorry i havent had a chance to watch the video (at work with no sound on the machine at the moment) but what context was given for the 1.5 year figure? {creation? adoption? value?)

[blade87]

bitcoin was nowhere near where it is now just a year ago.

You checked the charts to see that bitcoin was at $10 just a year ago, before posting this, right? So you are making my argument here, LTC fair price now is in single digits, everything else is just stupidity by late train catchers who are somehow positive that in a year LTC will be where BTC is now. Unfortunately it is not a fact, that is why bitcoin was $10 last year - not $1000.

Are you just completely ignoring the number of people involved in the crypto market today compared to a year ago?

[compwindsor]

your a retard , that's not what he said at all.

"you're".......

When calling someone a retard, try not to make yourself look like a retard