Is anyone still holding LITECOIN? (LTC)

[Dafar]

I am holding way too many at this point, and I bought in at $30 stubbornly waiting for the price to go back to $30 since..


Now as each day passes I am getting more and more skeptical of that ever happening.  From what I understand, the reason LTC is so popular is because it was one of the first ALT coins we had and it used scrypt algo to shield itself from ASIC mining..... now we know that LTC is not safe from ASIC mining, and coins like VTC pretty much do what LTC was meant to do and are a major threat to LTC. Are the devs for LTC even active or working on new developments/features? Are there any plans to further LTC's adoption?


I guess I just want to see if there is any hope for this coin, and if I'm a fool for still holding on to this coin.


Please respond

[CoinHoarder]

I am holding way too many at this point, and I bought in at $30 stubbornly waiting for the price to go back to $30 since..


Now as each day passes I am getting more and more skeptical of that ever happening.  From what I understand, the reason LTC is so popular is because it was one of the first ALT coins we had and it used scrypt algo to shield itself from ASIC mining..... now we know that LTC is not safe from ASIC mining, and coins like VTC pretty much do what LTC was meant to do and are a major threat to LTC. Are the devs for LTC even active or working on new developments/features? Are there any plans to further LTC's adoption?


I guess I just want to see if there is any hope for this coin, and if I'm a fool for still holding on to this coin.


Please respond

To be a Bitcoin (or insert cryptocoin name here) investor requires balls of steel. No one has ever made any money by buying high and selling low.

My advice to you:
1. Diversify your portfolio
2. Be patient

[PyroTekNeks]

I agree, you need to diversify.
You shouldn't rely on a single coin to carry you through rough times.

The only coin you should really be holding on tight should be BTC.

[anderl]

I hold 7100 LTC.  These panicking posts happen every time there is a crash.  I remember when LTC went from 2.50 to 1.70 and people thought it was the end of the world regretting holding LTC thinking it was going to a dime again.

[tk808]

A lot of my clients hold LTC in massive amounts, i was very much surprised.

It seems that most LTC holders believe they are the next to be a part of the next bitcoin boom.



In reality, this is very much true. But, if your holding thousands of LTC i suggest disbursing them a bit, expand your portfolio. There are other high-end Alt-coins competing against LTC now. It's not a one way path like BTC had.

[rix5]

now is good time to buy i think

[phzi]

Absolutely... Litecoin is the strongest network next to BTC, with the best history, strong core dev team, and the most potential.  If you are a crypto investor not holding LTC, you are crazy.

Trust in a system storing value is largely based around history. A new coin simply can never beat LTC's history, due to the mechanics of time.

As for ASICs, it looks like the future there is bright.  ASICs are coming for scrypt, yes. But they look to be only an incremental advancement that will not completely invalidate GPUs like we saw with BTC.  Certainly, ASIC equipment will be developed for any crypto that becomes valuable enough, but scrypt remains resistant to these advanced.  Point in case - you can still mine LTC with a bank of CPUs.  Certainly not true with SHA once GPUs came onboard.  The same will go for ASICs and GPUs, and later generation ASICs.

[Dafar]

For those telling me to diversify, I have diversified into other ALTs as well... I'm holding on to 3 other ALT coins and every single one of them made me lose money. Honestly if I did it over again I would just hold on to my BTC, everything else seems like a gamble or maybe I just have terrible luck.

I'm really hoping I can at least get my investment back from LTC... but LTC hitting 30 again seems almost out of reach

I hold 7100 LTC.  These panicking posts happen every time there is a crash.  I remember when LTC went from 2.50 to 1.70 and people thought it was the end of the world regretting holding LTC thinking it was going to a dime again.

Yes but were there as many other Alts that were a threat to LTC? Were the dev teams a lot more committed and active back then?

[flounderella]

I hold about 10% of LTC in my crypto portfolio (with 60% in BTC and the rest spread out in other altcoins), so yes I do feel LTC has potential. It has the best network after BTC and good support from merchants.

Diversify though ... a little bit at least, so you can ride out the volatility.

[flounderella]

You should always scale into a position, never buy the whole position at once. Just speaking for myself, I usually figure out how much should coin abc is of my portfolio and then scale into it over a few weeks. Since many of these cryptocurrencies are in infancy, you can use the volatility to your advantage and get better prices or buy into garbage created panics like that created by the trashcan known as Mt Gox.

[anderl]

For those telling me to diversify, I have diversified into other ALTs as well... I'm holding on to 3 other ALT coins and every single one of them made me lose money. Honestly if I did it over again I would just hold on to my BTC, everything else seems like a gamble or maybe I just have terrible luck.

I'm really hoping I can at least get my investment back from LTC... but LTC hitting 30 again seems almost out of reach

I hold 7100 LTC.  These panicking posts happen every time there is a crash.  I remember when LTC went from 2.50 to 1.70 and people thought it was the end of the world regretting holding LTC thinking it was going to a dime again.

Yes but were there as many other Alts that were a threat to LTC? Were the dev teams a lot more committed and active back then?

We  are only talking a few months ago and yes there were just as many cap coins as there were strongly developed coins.

[phzi]

Hold your LTC... $30 and beyond will almost certainly happen again, unless all cryptos go to the ground, in which case diversifying won't help you.

This, is from someone that held a big chunk of LTC all the way down from $4+ to under $1.70... Sure, I sold some during the last bubble, but I am still strongly long litecoin.  This is a long game - LTC has the backing and technicals to go far.  And crypto isn't going anywhere.  Hold and be strong.

[BrewCrewFan]

Of course I am holding I be a fool not to. Its cheap right now. We have seen what it CAN do. You just need to ignore the fud going on... and if it does get to you just walk away.

[Zzzack]

Hold your LTC... $30 and beyond will almost certainly happen again, unless all cryptos go to the ground, in which case diversifying won't help you.

This, is from someone that held a big chunk of LTC all the way down from $4+ to under $1.70... Sure, I sold some during the last bubble, but I am still strongly long litecoin.  This is a long game - LTC has the backing and technicals to go far.  And crypto isn't going anywhere.  Hold and be strong.

Why do you think alt cryptos can't go down? Even if Bitcoin becomes 'the' supported digital currency?

[rokkyroad]

Price of bitcoin goes down, people buy bitcoin, not much of the alts.

Price of bitcoin goes up, people put their money/bitcoin into altcoins.

Poor folk like myself cannot afford to play the bitcoin market. Best we can do is buy it when its down and take our chances on altcoins the rest of the time.

I own some litcoin and I feel its the most secure of them all right now. 

The prices will rebound. Don't worry so much.

Just my 2 cents.

[elavenil]

once the price of bitcoin rise, other important altcoins also rise. LTC is second to bitcoin so don't worry.

[leannemckim46]

me, still holding until it hit $50 again..

[Calhil]

If a coins value can be determined by its network hashrate then maybe you should sell ltc and buy something else 
LTC: 77.93 GH/s, DOGE: 103.84 GH/s
Im not saying doge is a better long term investment, but it will go through a couple of block halvings this year and if its popularity stays on the same level the value should increase by quite a lot.

[escrow.ms]

HODLING them from 1 year, will hold them for next 1-2 years.

[phzi]

If a coins value can be determined by its network hashrate then maybe you should sell ltc and buy something else  
LTC: 77.93 GH/s, DOGE: 103.84 GH/s
Im not saying doge is a better long term investment, but it will go through a couple of block halvings this year and if its popularity stays on the same level the value should increase by quite a lot.

Not sure where you get those numbers lol, but the continuous doge hashrate is definitely not that high.  Doge has around 1/3 the network strength of LTC.  Doge is a hillarious and profitable (for now) joke.  But the chances of it appreciating in value seem pretty slim.  The variable reward blocks are attracting a lot of profit-switching pools like middlecoin to rape the high reward blocks, but then almost nobody mines the low reward blocks.  Only accurate metric for doge hashrate is difficulty (this is why coinchoose shows ? ? ? for network hashrate).