Why is Litecoin so cheap?

[TheCloser]

El Dude has been singing this 'Charlie works for Coinbase' song for quite a while now. The thing is, this doesn't change anything. There are a lot of other places people can turn their fiat into cryptos, many more such places than a few months ago. That is exactly why I said that this thread is 6 months too late. Market is deciding right now, it has not decided anything yet. It is exactly these periods of seeming stagnation in price that are decisive, because big investors get into the market at these periods when the price is low and they decide what will be #2, and I don't see Litecoin staying at #2, as it brings nothing new that Bitcoin doesn't have.

Both Bitcoin and Litecoin are not designed to be every day internet currency, and being just the store of value - this is what Bitcoin does great, it doesn't need help from Litecoin for that.

Investors don't care about the tech side of coins. They care about longevity and stability especially if they are using their preferred crypto as a store of value. Case in point, would you put 1 million of your own cash into Asiacoin in hopes that it will explode in price? In terms of the best "store of value" litecoin will always be #2.

[Tomatocage]

ehm no btc went to 1200 because of china, not because of asic, when KNC miner are dumpic 1k btc a day

That last part is speculative at best. In fact it almost sounds as if you believe that Litecoin block reward increases as difficulty increases. Why would there be a massive dump of LTC just because the network hash rate increases? Sorry, I'm probably just misunderstanding your post.

[Amph]

ehm no btc went to 1200 because of china, not because of asic, when KNC miner are dumpic 1k btc a day

That last part is speculative at best. In fact it almost sounds as if you believe that Litecoin block reward increases as difficulty increases. Why would there be a massive dump of LTC just because the network hash rate increases? Sorry, I'm probably just misunderstanding your post.

i didn't mean this, just don't expect a price increase like BTC(which was caused for the most part by chinese), because LTC will be even more a clone of BTC, asic probably will make ltc rise a bit and stay there for a very long time

[hilariousandco]

There's a couple of reasons why it's so cheap right now: 1) Because Bitcoin is currently, and 2) Because there's not really much merchant adoption and demand. I'm sure it'll rise again soon or when Bitcoin does. Maybe now is a good time to buy in.

[Brilliantrocket]

Because it's a shitcoin? It adds nothing of value now that scrypt asics are here, so I'm honestly surprised it's even worth what it is.

[soulcity]

Supply is greater than demand.

[TheCloser]

Because it's a shitcoin? It adds nothing of value now that scrypt asics are here, so I'm honestly surprised it's even worth what it is.

So what are you investing in?

[bitcatch]

There are supposed to be four times more litecoins (84 million) than bitcoins (21 million) so with everything else being equal, Litecoin should cost 1/4 that of Bitcoin. But Litecoin is currently trading at about 10 dollars each while Bitcoin is trading at around 400-500 dollars each which makes it undervalued by a factor of 10.

Has it got something to do with the distribution curve (ie. more litecoins are produced in the first few years compared to Bitcoin)?

Why don't you create another bitcoin clone with 21M coins. Then one your 300coin should cost 1 BTC, right?

[El Dude]

all i got from this thread was el dude is a fucking idiot . now carry on please

Correlation does not imply causation

All I got from this thread is the majority of people here hate litecoin simply because they missed out buy in it at $2 this time 1 year ago and make up for it by buying craps coins with shit development teams and no real future.

If u take your head out of your ass and step back for a second you can clearly see Litecoin is the only coin that has a chance to be taken seriously by big investors.

- no other coin has a developer who also fixes bitcoin

- no other coin has a founder who works for a fucking major bitcoin company with over 1 million bitcoin users

- no other coin has a family member who runs a Chinese exchange ( the same one that took bitcoin to $1200)

I would never invest more then $100 into these crap mine and dump coins around here all you bag holders desperately try and promote on a daily basis.

[Michael POR]

There are supposed to be four times more litecoins (84 million) than bitcoins (21 million) so with everything else being equal, Litecoin should cost 1/4 that of Bitcoin. But Litecoin is currently trading at about 10 dollars each while Bitcoin is trading at around 400-500 dollars each which makes it undervalued by a factor of 10.

Has it got something to do with the distribution curve (ie. more litecoins are produced in the first few years compared to Bitcoin)?

The price of the COINS is has nothing to do with liquidity, impossible

[hilariousandco]

all i got from this thread was el dude is a fucking idiot . now carry on please

Correlation does not imply causation

All I got from this thread is the majority of people here hate litecoin simply because they missed out buy in it at $2 this time 1 year ago and make up for it by buying craps coins with shit development teams and no real future.

If u take your head out of your ass and step back for a second you can clearly see Litecoin is the only coin that has a chance to be taken seriously by big investors.

- no other coin has a developer who also fixes bitcoin

- no other coin has a founder who works for a fucking major bitcoin company with over 1 million bitcoin users

- no other coin has a family member who runs a Chinese exchange ( the same one that took bitcoin to $1200)

I would never invest more then $100 into these crap mine and dump coins around here all you bag holders desperately try and promote on a daily basis.

You can argue either way. Yeah, of all the alts Litecoin is probably one of the better ones, or at least was one of the first, but at the end of the day it doesn't really offer much in originality or innovation either, but like you said, I'm sure there's always a few people who are angry that they missed out on whatever coin and now just slag it off when they can.

[bitcatch]

You can argue either way. Yeah, of all the alts Litecoin is probably one of the better ones, or at least was one of the first, but at the end of the day it doesn't really offer much in originality or innovation either, but like you said, I'm sure there's always a few people who are angry that they missed out on whatever coin and now just slag it off when they can.

Weighed words. I can add that Litecoin added exactly nothing, even it's PoW hashing function - scrypt was used in earlier Bitcoin clones. Litecoin is just Bitcoin #9. It appeared because some people were angry that they missed BTC when it was 1 USD worth.

[El Dude]

You can argue either way. Yeah, of all the alts Litecoin is probably one of the better ones, or at least was one of the first, but at the end of the day it doesn't really offer much in originality or innovation either, but like you said, I'm sure there's always a few people who are angry that they missed out on whatever coin and now just slag it off when they can.

Weighed words. I can add that Litecoin added exactly nothing, even it's PoW hashing function - scrypt was used in earlier Bitcoin clones. Litecoin is just Bitcoin #9. It appeared because some people were angry that they missed BTC when it was 1 USD worth.

Your right litecoin's development team have contributed nothing to bitcoin in terms of bug and security fixes in the last serval months and the coin you hold has right ?

[bitcatch]

Your right litecoin's development team have contributed nothing to bitcoin in terms of bug and security fixes in the last serval months and the coin you hold has right ?

I don't know about bugfixes. But Bitcoin #9 contributed exactly nothing in terms of innovation, unlike some other rare examples of altcoins. I'm sure several more teams from altcoin world are able contribute to Bitcoin too, and I suspect they already do. Bitcoin repository has 198 contributors. It's so many, that imo it's unlikely, that there are no some altcoin developers among them besides Litecoin developers. But still, that doesn't make their own shitcoins less worthless.

[GhanaGamboy]

Because it's a shitcoin? It adds nothing of value now that scrypt asics are here, so I'm honestly surprised it's even worth what it is.

This.

LTC advantage has been advertised as GPU resistance first, then ASIC resistance and now what ? Cmon guys, you have to wait for LTC to be added to MtGox so the price can go to the moon. Wait, this wont happen anymore

[GigaPixels]

I perfectly understand many of you are tired of altcoins; there is one created every day and what is their purpose? Right, to pump it, sell it, done. Next.

While I'm in a hurry right now, I could give you literally a list of all the good things about Litecoin; things this 'altcoin' does different than those shitcoins.

Anyway, a ton of these shitcoins are based on Litecoin. It must do something right, don't you think?

[El Dude]

Because it's a shitcoin? It adds nothing of value now that scrypt asics are here, so I'm honestly surprised it's even worth what it is.

This.

LTC advantage has been advertised as GPU resistance first, then ASIC resistance and now what ? Cmon guys, you have to wait for LTC to be added to MtGox so the price can go to the moon. Wait, this wont happen anymore

While this was a advantage for litecoin at one point , Litecoin was never designed to be asics proof. Either way it doesn't matter what you guys think , the market has spoken , money talks and litecoin has been decided has the number 2 coin.No other coin comes close in 24 hour volume and marketcap and that's a fact nobody can dispute.

[Anotheranonlol]

Because it's a shitcoin? It adds nothing of value now that scrypt asics are here, so I'm honestly surprised it's even worth what it is.

This.

LTC advantage has been advertised as GPU resistance first, then ASIC resistance and now what ? Cmon guys, you have to wait for LTC to be added to MtGox so the price can go to the moon. Wait, this wont happen anymore

Yes this. LTC is a shitcoin since it dilutes bitcoin valuation (of which everyone should care about since it's the market leader) without bringing anything new to the table. It's purely gold-rush mentality right now.

LTC ASIC manufacturers, even more so than Bitcoin get rich by 'aging' (burn in) on ASIC setups with ability to scale huge farms and expand rapidly, (10's-100's of gigahash) - then they sell to  greedy end customers who buy assembled hardware at up to 1000's of percent markup, then they can dump at almost any price without a loss and laugh as the rest struggle to break even.

Now anyone investing today in LTC expects increase in litecoins market cap too! lol!!. Based on what infrastructure? even sustain is optimistic. a 5x increase in LTC price will be a 1.5 billion $ market cap. do you know how much fiat inflow required for this? That's fiat that will be diverted away from BTC, and since BTC falls. LTC falls, and then home miners with bills to pay need to dump more and house of cards comes tumbling down.  

I perfectly understand many of you are tired of altcoins; there is one created every day and what is their purpose? Right, to pump it, sell it, done. Next.

While I'm in a hurry right now, I could give you literally a list of all the good things about Litecoin; things this 'altcoin' does different than those shitcoins.

Anyway, a ton of these shitcoins are based on Litecoin. It must do something right, don't you think?

Litecoin was a clone coin of Fairbrix. which was clone of tenebrix and so on. Public did not know POW was broken. and devs are lazy, many shitcoins take the easy route by copy pasting litcoin codebase or using coingen and tweaking few params, add few gimmicks, maybe call it texascoin or squirrelcoin. bam. instant profit.

LTC offers nothing of value over BTC.

[Anotheranonlol]

Because it's a shitcoin? It adds nothing of value now that scrypt asics are here, so I'm honestly surprised it's even worth what it is.

This.

LTC advantage has been advertised as GPU resistance first, then ASIC resistance and now what ? Cmon guys, you have to wait for LTC to be added to MtGox so the price can go to the moon. Wait, this wont happen anymore

While this was a advantage for litecoin at one point , Litecoin was never designed to be asics proof. Either way it doesn't matter what you guys think , the market has spoken , money talks and litecoin has been decided has the number 2 coin.No other coin comes close in 24 hour volume and marketcap and that's a fact nobody can dispute.

bullshit. it was specifically designed for that

allow me to introduce you Tenebrix, a cryptocurrency we (mostly ArtForz, but I contributed the name, some minor tweaks and the logo, as well as windows portability suite and cool genesis motto Wink ) have created to provide the community with a cryptocurrency with solid GPU resistance.

It implements a proof-of-work scheme based on scrypt, a cryptographic construct specifically designed to resist creation of efficient GPU, FPGA and even ASIC implementations. You can find more about scrypt and how it can improve your stamina, masculine appeal and performance here

Tenebrix is intended not only to become the first and the best of CPU-specific cryptocurrencies, but remain so in the future (that's exactly where the Tenebrix Protection Fund will go... That, usability/gui bounties, fixes and my dream of starting up a massive coin laundering "Historical Cryptocurrency Collector" Service Cheesy)

And  despite those claims that guy was secretly mining with GPU with his own optimized implementation while all suckers were mining on CPU's...he played everyone
next he was working on FPGA's while everyone was on GPU

[devphp]

El Dude has been singing this 'Charlie works for Coinbase' song for quite a while now. The thing is, this doesn't change anything. There are a lot of other places people can turn their fiat into cryptos, many more such places than a few months ago. That is exactly why I said that this thread is 6 months too late. Market is deciding right now, it has not decided anything yet. It is exactly these periods of seeming stagnation in price that are decisive, because big investors get into the market at these periods when the price is low and they decide what will be #2, and I don't see Litecoin staying at #2, as it brings nothing new that Bitcoin doesn't have.

Both Bitcoin and Litecoin are not designed to be every day internet currency, and being just the store of value - this is what Bitcoin does great, it doesn't need help from Litecoin for that.

Investors don't care about the tech side of coins. They care about longevity and stability especially if they are using their preferred crypto as a store of value. Case in point, would you put 1 million of your own cash into Asiacoin in hopes that it will explode in price? In terms of the best "store of value" litecoin will always be #2.

There can only be one store of value coin, and that is Bitcoin. Two coins for store of value is too much, there is simply not enough fiat liquidity looking for permanent storage in this market for two coins. Now that this is out of the way, the market also needs a coin for circulation, and it can't be Litecoin either, because it's too rare for that, just like Bitcoin. And here comes Dogecoin, to be the preferred currency to circulate and to be spent, while Bitcoin is hoarded. I don't see where Litecoin fits in here.