rpietila Altcoin Observer

[devphp]

Nice to see an observer thread for Altcoins. I sense interest in Altcoins is picking up lately, if even because of LTC's fall in price  Altcoins bring a lot of experimenting into the game from which we can all learn over time.

A fascinating environment.

Yeah, if Bitcoin keeps doing what it has been doing lately, that is, fluctuating in the $550-$650 range, a lot more people will get bored and start looking for gains in the alts.

[Globb0]

I have held a few past the point of cant let go   

[bitdig]

Without revealing the amount or at least share of investment in each currency.... You could have 40% loss on $100,000 and 300% gain on $1000, not sure if this would make you happy

I might be cementing a 40% loss in LTC if I sell it now. Should i sell anyway for xmr?

40% loss in ltc and 300% gain in monero....might happen, do the math 

[Its About Sharing]

I might be cementing a 40% loss in LTC if I sell it now. Should i sell anyway for xmr?

40% loss in ltc and 300% gain in monero....might happen, do the math 

One of the worst mistakes I have seen is holders not cutting their losses. I unfortunately waited a bit too long with Quark but still cut my losses at 40% or so!
It is hard to detach from our holdings at times. But when something better comes along, tides change, etc. move on (just keep an eye on the past investments)...

Im thinking of pulling the trigger and selling the rest of my LTC as Im in the same boat with the LTC losses..........

 

If you want to play it safe you can exit in waves, but be careful of a tsunami! 

We are all just giving opinions here, but there are usually emotions involved.
So, use your best judgement and take the responsibility for your trades. (I mean
That in a non accusatory way.)

[bangersdad]

Is this a potential threat to moneros technological advantage:

https://bitcointalk.org/index.php?topic=673203.0

[nakaone]

Is this a potential threat to moneros technological advantage:

https://bitcointalk.org/index.php?topic=673203.0

why? - they are offering a toolkit for creating new cryptonotes, why should that be a threat? I think even mid and longterm this is good for monero.

[villabacho]

Is this a potential threat to moneros technological advantage:

https://bitcointalk.org/index.php?topic=673203.0

why? - they are offering a toolkit for creating new cryptonotes, why should that be a threat? I think even mid and longterm this is good for monero.

I agree. Among the many shitcoins that will arise from this, there might also be a few good ideas, some of which might even be integrated
into Monero. And then, if the same feature becomes available in an established coin like Monero, many will prefer that over the new coin (hopefully).

[aminorex]

I agree. Among the many shitcoins that will arise from this, there might also be a few good ideas, some of which might even be integrated
into Monero. And then, if the same feature becomes available in an established coin like Monero, many will prefer that over the new coin (hopefully).

This is the precedent from bitcoin.  Whether Monero's leadership is sufficiently established for the precedent to hold is open to question, but its ability to supercede bytecoin is a favorable indicator.  So far the primary function of the CN repo is to receive and record the abstract forms of Monero bugfixes.

[giveBTCpls]

Monero will skyrocket eventually. Just lol at not being a pioneer in the first stablished 100% anonymous coin that actually works. This is the ultimate dream, worldwide instant cash, just as Satoshi intended it. None of this goverment regulations crap.

[pandacoin]

Monero will skyrocket eventually. Just lol at not being a pioneer in the first stablished 100% anonymous coin that actually works. This is the ultimate dream, worldwide instant cash, just as Satoshi intended it. None of this goverment regulations crap.

We all waiting that day. Litecoin is falling, so this could be the chance for Monero to be #2 crypto-currency.

[Este Nuno]

I haven't seen any reasonable argument for holding litecoin in a very long time. I think anyone who is still holding LTC is insane at this point. There's probably 5 or more alts that have at least a chance at gaining a chunk of the market. Those LTC could be sold and put in to pretty much any promising coin and have a vastly better chance at actually making money.

What could possibly be the rationale for holding litecoin in the year 2014?

[dunchy]

I haven't seen any reasonable argument for holding litecoin in a very long time. I think anyone who is still holding LTC is insane at this point. There's probably 5 or more alts that have at least a chance at gaining a chunk of the market. Those LTC could be sold and put in to pretty much any promising coin and have a vastly better chance at actually making money.

What could possibly be the rationale for holding litecoin in the year 2014?

To make things even worse, I have a feeling that many of LTC holders  are using DRK as a life vest, buying it at unreasonable peak. They will end up with another heavy bag.

[Este Nuno]

I haven't seen any reasonable argument for holding litecoin in a very long time. I think anyone who is still holding LTC is insane at this point. There's probably 5 or more alts that have at least a chance at gaining a chunk of the market. Those LTC could be sold and put in to pretty much any promising coin and have a vastly better chance at actually making money.

What could possibly be the rationale for holding litecoin in the year 2014?

To make things even worse, I have a feeling that many of LTC holders  are using DRK as a life vest, buying it at unreasonable peak. They will end up with another heavy bag.

Yeah. Personally I wouldn't buy DRK. But if anyone one has any arguments for buying DRK I'd be interested in hearing them.

[devphp]

What could possibly be the rationale for holding litecoin in the year 2014?

Whales who got them for a few cents or mined them in the early days could still be holding them, simply because they have too many of them and can't sell all at once because the market is too thin, so they are selling them off gradually. Now, who is buying - that's the question.

[TheKoziTwo]

What could possibly be the rationale for holding litecoin in the year 2014?

Whales who got them for a few cents or mined them in the early days could still be holding them, simply because they have too many of them and can't sell all at once because the market is too thin, so they are selling them off gradually. Now, who is buying - that's the question.

What happened with litecoin is pretty interesting. I was loaded with litecoin before the last bubble, but ended up selling too early to profit immensely.

If you look at the graph, LTC was around 0.007 and the majority opinion at the time was that litecoin was dead. But then Max Keiser came along out of nowhere and announced a target of $50. Immediately afterwards the price spiked. A few days later, Karl Gray announced $50 target on his twitter.



Now who is Karl Gray? It's not just anybody. In fact Karl Gray holds approximately 100 000 BTC. And he wants more, he was one of the sellers during our latest BTC rise to $1k ++ and subsequent drop. He has already bought back at massive profit.

Max Keiser is no minor btc player either, with 5-digit worth of BTC in his holdings. It seems pretty likely that Max and Karl accumulated litecoin near the bottom only to hype and pump it up massively to sell out for 3-5x return on their investment. All the sheeps bought and are now holding the bag.

Why litecoin? Liquidity. These guys own 5 and 6 digits amount of BTC. They need massive liquidity to increase their holdings by any significant degree. And as such litecoin has been a blessing. Will history repeat itself? That's the question. It honestly would not surprise me at all. Due to this I will be looking at LTC again sub 0.01. I don't believe in LTC, but I'd certainly ride along for such a massive pump if I can. There is ofc the risk that I'll be going down with a sinking ship, so I have no hurry and will only consider prices below 0.01, anything else is too much atm.

It's important to buy when there is blood in the street. The current decline is painful but we need a lot more despair and people to lose faith before it's a good buying opportunity.

[superresistant]

What could possibly be the rationale for holding litecoin in the year 2014?

Whales who got them for a few cents or mined them in the early days could still be holding them, simply because they have too many of them and can't sell all at once because the market is too thin, so they are selling them off gradually. Now, who is buying - that's the question.

What happened with litecoin is pretty interesting. I was loaded with litecoin before the last bubble, but ended up selling too early to profit immensely.
If you look at the graph, LTC was around 0.007 and the majority opinion at the time was that litecoin was dead. But then Max Keiser came along out of nowhere and announced a target of $50. Immediately afterwards the price spiked. A few days later, Karl Gray announced $50 target on his twitter.
https://i.imgur.com/oegybLD.png
Now who is Karl Gray? It's not just anybody. In fact Karl Gray holds approximately 100 000 BTC. And he wants more, he was one of the sellers during our latest BTC rise to $1k ++ and subsequent drop. He has already bought back at massive profit.
Max Keiser is no minor btc player either, with 5-digit worth of BTC in his holdings. It seems pretty likely that Max and Karl accumulated litecoin near the bottom only to hype and pump it up massively to sell out for 3-5x return on their investment. All the sheeps bought and are now holding the bag.
Why litecoin? Liquidity. These guys own 5 and 6 digits amount of BTC. They need massive liquidity to increase their holdings by any significant degree. And as such litecoin has been a blessing. Will history repeat itself? That's the question. It honestly would not surprise me at all. Due to this I will be looking at LTC again sub 0.01. I don't believe in LTC, but I'd certainly ride along for such a massive pump if I can. There is ofc the risk that I'll be going down with a sinking ship, so I have no hurry and will only consider prices below 0.01, anything else is too much atm.
It's important to buy when there is blood in the street. The current decline is painful but we need a lot more despair and people to lose faith before it's a good buying opportunity.

Your view is very interesting. Thanks for sharing.

I would warn people about investing now though. We don't know what could happen. It's only speculation.

[Este Nuno]

What could possibly be the rationale for holding litecoin in the year 2014?

Whales who got them for a few cents or mined them in the early days could still be holding them, simply because they have too many of them and can't sell all at once because the market is too thin, so they are selling them off gradually. Now, who is buying - that's the question.

What happened with litecoin is pretty interesting. I was loaded with litecoin before the last bubble, but ended up selling too early to profit immensely.

If you look at the graph, LTC was around 0.007 and the majority opinion at the time was that litecoin was dead. But then Max Keiser came along out of nowhere and announced a target of $50. Immediately afterwards the price spiked. A few days later, Karl Gray announced $50 target on his twitter.



Now who is Karl Gray? It's not just anybody. In fact Karl Gray holds approximately 100 000 BTC. And he wants more, he was one of the sellers during our latest BTC rise to $1k ++ and subsequent drop. He has already bought back at massive profit.

Max Keiser is no minor btc player either, with 5-digit worth of BTC in his holdings. It seems pretty likely that Max and Karl accumulated litecoin near the bottom only to hype and pump it up massively to sell out for 3-5x return on their investment. All the sheeps bought and are now holding the bag.

Why litecoin? Liquidity. These guys own 5 and 6 digits amount of BTC. They need massive liquidity to increase their holdings by any significant degree. And as such litecoin has been a blessing. Will history repeat itself? That's the question. It honestly would not surprise me at all. Due to this I will be looking at LTC again sub 0.01. I don't believe in LTC, but I'd certainly ride along for such a massive pump if I can. There is ofc the risk that I'll be going down with a sinking ship, so I have no hurry and will only consider prices below 0.01, anything else is too much atm.

It's important to buy when there is blood in the street. The current decline is painful but we need a lot more despair and people to lose faith before it's a good buying opportunity.

Yeah, if you can find a good trade like that where you think have a good chance at making profit it could be good. Litecoin seems to be in the process of fully decoupling itself from bitcoin, but when bitcoin gets another bubble going all the alts including ltc will be going up likely. Especially if we get big names attempting to pump it like you said. Now that you mention that I'll definitely be on the lookout for that litecoin pump and dump trade if Max or Karl Grey attempt to do it again. Thanks for the post.

But buying and holding for the long term seems like a bad idea. The future looks bleak for Litecoin.

[AlexGR]

I haven't seen any reasonable argument for holding litecoin in a very long time. I think anyone who is still holding LTC is insane at this point. There's probably 5 or more alts that have at least a chance at gaining a chunk of the market. Those LTC could be sold and put in to pretty much any promising coin and have a vastly better chance at actually making money.

What could possibly be the rationale for holding litecoin in the year 2014?

To make things even worse, I have a feeling that many of LTC holders  are using DRK as a life vest, buying it at unreasonable peak. They will end up with another heavy bag.

LTC does not represent store of value. DRK though, does. DRK issues 2880 coins per day instead of 28800 of LTC. With a similar price of 8-9$ per coin, LTC is a nightmare to preserve price as it sucks BTC at a rate that isn't really funny (250k usd per day).

DRK is scarcer + inflates slower.  Plus DRK also pays for itself (20% on masternodes) something that LTC doesn't. You need to buy ASIC miners for LTC while with DRK you can ...mine DRKs by simply running a node. So with a 30-50% ROI due to masternode payments alone for DRK + scarcer coin + much lower inflation, the LTC bag suddenly seems much less attractive.

[r0ach]

"IPO is not a way to distribute currency" is just an opinion.

No, it's not just an opinion.  The person that runs the IPO can create as many fake accounts as they want, send in 10 BTC with all of them, get 90% of the coin issued, then all the BTC money goes back to himself anyway.  So the coin issuer not only gets as much premine as he wants, but also profits from anyone else that sends him money.  You couldn't invest in a more idiotic scam no matter how hard you try.

The only valid form of IPO is maybe proof of burn like Counterparty did.

[shmadz]

"IPO is not a way to distribute currency" is just an opinion.

No, it's not just an opinion.  The person that runs the IPO can create as many fake accounts as they want, send in 10 BTC with all of them, get 90% of the coin issued, then all the BTC money goes back to himself anyway.  So the coin issuer not only gets as much premine as he wants, but also profits from anyone else that sends him money.  You couldn't invest in a more idiotic scam no matter how hard you try.

The only valid form of IPO is maybe proof of burn like Counterparty did.

I've been thinking about counterparty more often lately, not exactly as a coin for investment, but more just thinking about these user-created assets.

I've been thinking that these assets might be very interesting as a speculative tool. As I understand it, the protocol includes the means to trade any counterparty asset for any other.

This seems to allow for a complete abstraction of bitcoin into what could become the currencies that people actually end up using. Everything can be tied back, or tethered to bitcoin, similar to the way that government currencies were once tethered to gold.

I just haven't heard much discussion of xcp in here and if anyone has any strong ideas or feelings about it I'd like to hear them. Thanks.