Charlie Lee thinks LTC is in a bubble

[mrfakename]

... $50? yes right, also don't forget to pick up some $50k BTC while you are buying overvalued coins.

Because clearly BTC is the winner as MySpace was the winner in the social networking scene where that annoying copy which wanted all your real details took off and made it big. IIRC it's called Facebook or something.

As for $50k BTC, I'm thinking never gonna happen - BTC's next peak is the last of the pump and dumps. Disagree w/ me? Fine.

Litecoin may not be the next big coin either - but SCRYPT keeps behemoths like BTC Guild running ~50% mining capacity with the ASIC race.

We're building the framework here for the future (called VISAcoin, DISCOVERcoin, MASTERcoin, AmExcoin, or even something as ridiculous as BitCoin (so, so underground, it'll be worth $10 million each by 2022!)

I always liked how scientists follw the evidence and avoid putting too much stake in important ppl like Charlie Lee. Youtube maketh not the truth.

MAKE UP YOUR OWN MINDS PPL!

[Richard Branson]

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.

Every serious player gives a fuck about ROI! They don't gamble... they invest. Bitcoin and it's ASIC race is really bad for decentralization.
And serious players can't jump on another coin, because you can only reach ROI, if you get the newest miner in time and mine the hell out of it in the first few weeks. Otherwise it's just an expensive piece of crap.

Selling ASIC Hardware is much more profitable than mining yourself. The only exclusion is -> new production step, for example 14-22nm.

[StewartJ]

I love the argument that LTC is "overvalued."

They have been saying that since it was just $0.008 per LTC in early 2012.

Since then, it has incrementally doubled itself, repeatedly, on virtually no other fact that it is literally
the 2nd virtual coin after Bitcoin.

And now that Bitcoin has continued to prosper, and has become more accepted and understood in the
mainstream news, Litecoin has itself become more recognized and risen in value even more.

2014 should be LTC's breakout year (like 2013 was for Bitcoin) for these reasons...

- LTC is a much cheaper way to invest in virtual currency than Bitcoin
- LTC does not have the taint of Bitcoin's dark side, i.e. Silk Road
- LTC has potential to be adopted by established BTC exchanges, (Gox, Coinbase, China)
- LTC has Charlie Lee, the LTC Dev now working for Coinbase, and his brother who owns BtcChina
- LTC is functionally more secure, faster and has 4x the quantity of Bitcoin
- LTC mining is now far more profitable than Bitcoin mining now

All I am saying is that the LTC boat has not sailed yet, and you can still get on.
Its just gonna cost you a little more.  Like when you could of gotten bitcoin for $25 not too long ago... 

LTC hitting $50-$100 range by mid to late 2014, that's my conservative guess.

Stew

[Dalmar]

If only you LTC fools listened to this you would not have lost over 70%.

 

[Spoetnik]

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.

ooohhh snap you win Grammar nazi FTW

did it occur to you the guy just made a spelling mistake ?

but hey never mind me.. you just won this debate lol

[lynn_402]

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.

How is it ahead of PPC and XPM? They both use a technology which could be considered superior to LTC.

It's only ahead in the current market-cap, which could change at any time.

[digitalindustry]

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.

i generally agree with that price analysis.

[juicyjuice87]

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.

i generally agree with that price analysis.

You have lost all credibility with your PO$ (proof of scam) antics on your gay little blog. It's a real shame because it seems you do have a little common sense