Can Litecoin hold the #2 spot? Doubtful..and here are the coins who will benefit

[Whoisthelorax]

...
Litecoiners, what is the reason why Litecoin should hold the #2 spot? I honestly don't know. It doesn't seem any more special than many of the coins that trend between 500K-10 million in market cap.

Well, if they can't hold the #2 spot and 325,000,000 in market cap, what will happen to that Litecoin money? It will flood the alt coin market.


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In lieu of Litecoiners not being able to produce a strong answer to this question, we put out the guesses as to who benefits from the slow (or not so slow) dieoff of Litecoin.

The winners I predict are...

Bitcoin-because its bitcoin

Vertcoin- scrypt N and a commitment to defeat ASICs will attract disenchanted LTCers once ASICs take over

Monero-(this is our wild card) Widely different CryptoNote currency technology. Of the handful that have come out with this tech, Monero is at least 10x more volume and market cap. LTCers might jump on this rising train.

Darkcoin-I hate darkcoin, but it has a ton of volume, including LTC/DRK. Unless they have other fuck ups like their recent emergency hardfork, LTCers could go to this coin as well

Karma-Lots of LTC volume for such a small currency and its on the rise. Also a wild card pick.

Dogecoin-Tons of LTC volume. Trusted name recognition, which is apparently important to LTCers.

NXT-NXT has been rising steadily for a couple months now. LTCers who have lost some money may try to hop on the NXT train in hopes that it keeps marching forward.


See more here http://www.devtome.com/doku.php?id=the_death_of_litecoin_will_rejuvenate_other_alts

[EvilDave]

I've just gone on public record that LTC will be toast within a few months.

https://nxtforum.org/general-discussion/price-speculation/msg41392/#msg41392

I'm also fairly sure that the big winners from a Litecoin collapse will be BTC and NXT, not sure how much other alts will gain.
We'll see.....interesting times ahead, for sure.

[Acidyo]

A lot of times I still don't understand what Litecoin is doing so high up. I wonder when it will drop and if it's going to be darkcoin to take it's place or another one.

[Scott J]

The next 'bubble' will be do-or-die for Litecoin.

Network effect/name recognition may help it keep its number two spot, but it's far from certain.

What is interesting is that LTC/BTC hit a huge low right before it spiked massively to 0.05199. This could suggest the current downtrend may not be something to be overly worried about.

As for which coin could take the number two spot... a privacy oriented coin seems most likely to me, with DRK currently being the favourite.

[slapper]

Volume is still up there as #2, so price is not the best indicator. All these talks of it dying for the last 2 months sure seem to have fueled the speculative fire of an impending demise. My problem with Litecoin is the self-serving subservience. When needed they just use Bitcoin in the same sentence to justify a position which has no literal connection or sense.

For the moment, it is the popularity, age and community keeping it #2. If some major players start giving up, then the doubts would accelerate the fall for sure. I first got on the Litecoin bandwagon when I first heard of cryptos, since it was within my financial boundaries and I kept hearing "Silver, Silver". Seemed like a rational choice compared to ASIC infested Bitcoin. Once Charlie announced his affinity for ASIC to "help secure the network", I suddenly realized what cryptos are about. I still haven't gotten out of it completely as I think we might see an LTC pump independent of BTC mainly led by Scrypt ASIC manufactures, but that hasn't happened yet and it makes me somewhat nervous.

I agree about privacy centric coins (DRK/MRO) or NXT benefiting from a gradual exodus either way. I have mined MRO from the beginning and trying to better my DRK position on the dips.

Edit: Also starting to consider getting in on NXT very seriously now.

[r0ach]

Original poster asked the wrong question.  The question he should have asked is, with a giant and expensive ASIC network being built for Litecoin, why is the price of LTC so low compared to Bitcoin?  Once LTC and BTC both have similar hardware infrastructure supporting the network, in a logical world, the price of LTC would go up and BTC go down.

[devphp]

Volume is still up there as #2, so price is not the best indicator.

Yeah, but ltc/btc keeps going down steadily and surely, which means all those daily 28 800 mined litecoins are being dumped on suckers, who keep buying in hopes it will resurrect. But it's not 2013 now, a lot more interesting coins are here and capital has been flowing into those. Old hopes are hard to throw away, but at some point people would have to cut their losses and move on.

[Whoisthelorax]

Original poster asked the wrong question.  The question he should have asked is, with a giant and expensive ASIC network being built for Litecoin, why is the price of LTC so low compared to Bitcoin?  Once LTC and BTC both have similar hardware infrastructure supporting the network, in a logical world, the price of LTC would go up and BTC go down.

I'm not sure I understand completely. Are you saying if people build ASIC networks around a coin similar to bitcoin, that coin should eventually reach parity with btc, so the question in question rises and bitcoin falls? I would have to say that public opinion, public adoption and public usage weighs heavily over that ASIC network.


I think the miners of LTC who spent boo koo bucks are taking a major gamble.

[Ashbite]

The next bubble will definitely decide the future of ltc.
its up or down from there.

[Mageant]

Other coins may have much better features than Litecoin, but in regards to acceptance at exchanges and merchants Litecoin is still way ahead of all other altcoins.

[Acidyo]

Other coins may have much better features than Litecoin, but in regards to acceptance at exchanges and merchants Litecoin is still way ahead of all other altcoins.

I have yet to hear about merchants using Litecoin. Seriously, you hear about bitcoins everywhere but litecoin? I really have no idea why it's worth so much, except for the fact that people put a shit-ton of mining power into it and it was one of the first scrypt coins.

[Mageant]

Other coins may have much better features than Litecoin, but in regards to acceptance at exchanges and merchants Litecoin is still way ahead of all other altcoins.

I have yet to hear about merchants using Litecoin. Seriously, you hear about bitcoins everywhere but litecoin? I really have no idea why it's worth so much, except for the fact that people put a shit-ton of mining power into it and it was one of the first scrypt coins.

About 10% of the places on coinmap.org also accept Litecoin.

[ejinte]

Other coins may have much better features than Litecoin, but in regards to acceptance at exchanges and merchants Litecoin is still way ahead of all other altcoins.

I have yet to hear about merchants using Litecoin. Seriously, you hear about bitcoins everywhere but litecoin? I really have no idea why it's worth so much, except for the fact that people put a shit-ton of mining power into it and it was one of the first scrypt coins.

About 10% of the places on coinmag.org also accept Litecoin.

That actually don't tell us anything about why Litecoin has value. I've got long litecoin position however I don't know if I should close it or not. I think it's best to wait until BTC rise and then close it.

[Equate]

Litecoin is currently riding on bitcoin's value . No new innovation by the Litecoin  devs and they are just waiting LTC value to rise with launch of scrypt ASICS as it happened with bitcoin. With so many interesting coins , lets see for how much time LTC holds its 2nd place.

[Whoisthelorax]

Other coins may have much better features than Litecoin, but in regards to acceptance at exchanges and merchants Litecoin is still way ahead of all other altcoins.

I have yet to hear about merchants using Litecoin. Seriously, you hear about bitcoins everywhere but litecoin? I really have no idea why it's worth so much, except for the fact that people put a shit-ton of mining power into it and it was one of the first scrypt coins.

About 10% of the places on coinmag.org also accept Litecoin.

what is coinmag.org? It's not showing up on my end of the interwebs.

[Whoisthelorax]

BTW it seems people are at complete opposite ends here:

-People against LTC look at its lack of uniqueness and wonder how LTC isn't declining against other more unique (and possibly useful) alts. The threat of ASICs invading LTC is already here and people against LTC see that as a bad thing.

-People for LTC believe ASIC adoption will lead to a stronger network, which will lead to more merchants accepting it, and see LTC increasing.

We shall see which is right in a couple of months or so.

[Mageant]

Other coins may have much better features than Litecoin, but in regards to acceptance at exchanges and merchants Litecoin is still way ahead of all other altcoins.

I have yet to hear about merchants using Litecoin. Seriously, you hear about bitcoins everywhere but litecoin? I really have no idea why it's worth so much, except for the fact that people put a shit-ton of mining power into it and it was one of the first scrypt coins.

About 10% of the places on coinmag.org also accept Litecoin.

what is coinmag.org? It's not showing up on my end of the interwebs.

sorry, typo, it should be coinmap.org

[Whoisthelorax]

Other coins may have much better features than Litecoin, but in regards to acceptance at exchanges and merchants Litecoin is still way ahead of all other altcoins.

I have yet to hear about merchants using Litecoin. Seriously, you hear about bitcoins everywhere but litecoin? I really have no idea why it's worth so much, except for the fact that people put a shit-ton of mining power into it and it was one of the first scrypt coins.

About 10% of the places on coinmag.org also accept Litecoin.

what is coinmag.org? It's not showing up on my end of the interwebs.

sorry, typo, it should be coinmap.org

wow, great website. thanks!


Well, I will definitely pull back my expectation of a litecoin crash considering this. I think a slow decline is still likely but I didn't realize that many people were arleady accepting it.

[socosavvy]

Litecoin will eventually be taken over by Cinnicoin.  Don't believe me?  Wait until tomorrow. 

[FiiNALiZE]

Litecoin will eventually be taken over by Cinnicoin.  Don't believe me?  Wait until tomorrow. 

Dude please take your bs to someone who cares.