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

[From Above]

I think six months from now LTC will be surpassed by another alt in the #2 position, but LTC will not fade away to nothing by any means.

+1 litecoin will still be in top 100 list one year from now, probably #65 or so.

[slapper]

Just seems like a useless statistic. EVERY coin has buy orders and sell orders that are dangling way beyond what the trading range is. Care to run the average on btc?

Not quite useless. I noticed that when the average price buyers are willing to pay is close to the current selling price, the market is ready to move higher or actually trending higher already. When the average price is way below the current selling price, it means there are simply not enough buyers and the market is trending lower. I believe current average for Bitcoin is $400 or something like that, meaning there is a build-up of bearish sentiment on Bitcoin. It's all momentum based too, it can change very quickly. Just do those calculations every time you want to trade or every day and you'll see what I mean and will notice price moves connected to that average price.

Average is never a good indicator by itself for anything. If you really want to analyse using such rudimentary stats, then include median. I can place a 1 BTC order for LTC@0.00000001 and it will mess up your averages.  

[Bizmark13]

I don't think that Litecoin is dead for the same reason that Bitcoin is dead. Litecoin has branding power and some legacy to it. It is the first altcoin.

It wasn't really the first altcoin. That honor actually goes to Namecoin. Even the great Satoshi himself had some input into its development back when it was called BitDNS. Litecoin was heavily influenced by Fairbrix which was a fork of Tenebrix, both of which are now completely dead. Nevertheless, Litecoin was one of the earliest successful altcoins and has gained a reputation as being the silver to Bitcoin's gold so I definitely agree with the "branding power" argument that Litecoin won't be fading away anytime soon.

I think that Litecoin may fall a little bit in standing, but it won't die out completely. There are some innovative coins coming out that offer strong competition like CinniCoin with its encrypted messaging and invoice, receipt and SKU system and export into QuickBooks. X11C apparently has some new features coming out and it is going to get a lot of attention when Rev2 comes out.

Cinnicoin sounds interesting. I might need to check it out.

[Saigonsmokes]

Meanwhile,

https://btc-e.com/exchange/ltc_btc
https://btc-e.com/exchange/ltc_usd

Average price buyers are ready to buy Litecoin at is: 0.0043 BTC and $2.02

how did you come up with that???

face the fact noob. litecoin is a broken microwave.

All you NEM, NXT Pump and Dumpers need to face facts. LTC is here to stay. Always will be.

I love how everyone ignored Coblees post but all they can say is Litecoin is dead - NEN, NEXT, GIMP Coin will be No 2 soon. No it wont, like all other pump and dumps it will be long gone.

Coblee's Post
So why is Litecoin valuable today? Here's what I think justifies Litecoin's maketcap and why it will stay #2 behind Bitcoin for the foreseeable future:
Litecoin's trade volume dwarfs most other coins.
Litecoin is supported by a huge number of exchanges. No other altcoin comes close.
Like the comparison or not, Litecoin is silver to Bitcoin's gold. Having a cryptocurrency trading pair is important for arbitrage reasons. Litecoin is playing that role today. It's hard for another coin to take over that role.
Litecoin is supported by payment processors like GoCoin and, if I can help it, Coinbase. Payment processors are critical in the path towards mass adoption.
Litecoin is accepted by a huge amount of merchants. Look at http://coinmap.org/
Litecoin has ATM support.
Litecoin is protected by its own network of hardware dedicated to Scrypt mine. And Litecoin's hashrate dwarfs that of other Scrypt coins. The amount of money spent protecting Litecoin will increase substantially with Scrypt ASICs.
Litecoin runs on well tested codebase. Because it is basically Bitcoin with a few changes.
We have a great dev team and an awesome Litecoin association

Face it - scam coins that you pump will not exist in a year. Tell me how NEM/NXT/DRK does with merchants? How about volume? How about exchanges? Payment processors?

[slapper]

Like the comparison or not, Litecoin is silver to Bitcoin's gold. Having a cryptocurrency trading pair is important for arbitrage reasons. Litecoin is playing that role today. It's hard for another coin to take over that role.
Face it - scam coins that you pump will not exist in a year. Tell me how NEM/NXT/DRK does with merchants? How about volume? How about exchanges? Payment processors?

Textbook subservience kept LTC afloat for this long. Branding everything else as Pump and Dump while crowning yourself a self made silver is not going to help much longer. It will be Monero that will be the rightful pair alongside BTC and it doesn't have to hide behind some silly brother/sister/silver moniker.

I find it decidedly funny that every coin is compared to Auracoin (sic) in the LTC forums. All I can say is be careful what you wish for.

[saddambitcoin]

Monero is the most interesting altcoin with promise right now

I suppose Litecoin could continue drafting BTC just like NASCAR so I won't doubt if it happens again and LTC stays #2 for another round

[devphp]

...everyone ignored Coblees post...

Mostly because he re-iterated all the same irrelevant things you had already said before him. Probably reading from the same scrypt

[TheMage]

...everyone ignored Coblees post...

Mostly because he re-iterated all the same irrelevant things you had already said before him. Probably reading from the same scrypt

Ohh come on, like the anti-LTC people in this thread have said anything new?


At this rate might as well agree to disagree and be done with it  .

[devphp]

Ohh come on, like the anti-LTC people in this thread have said anything new?

I am not anti-LTC, I try to stay objective and I did say something new here:

https://bitcointalk.org/index.php?topic=648429.msg7305163#msg7305163

it's not like anybody paid attention of course.

[smoothie]

I think six months from now LTC will be surpassed by another alt in the #2 position, but LTC will not fade away to nothing by any means.

+1 litecoin will still be in top 100 list one year from now, probably #65 or so.

Wanna bet that Litecoin is in the top 5 cryptocurrencies in terms of price?

I'm willing to do a 5 BTC escrowed bet. Saltyspitoon will be the escrow. 1 year from now if Litecoin is NOT in the top 5 cryptocurrencies in terms of price you win, if it is within the top 5, I win.

Put your money where your mouth is. Or stfu. Thanks.  

[TheMage]

Ohh come on, like the anti-LTC people in this thread have said anything new?

I am not anti-LTC, I try to stay objective and I did say something new here:

https://bitcointalk.org/index.php?topic=648429.msg7305163#msg7305163

it's not like anybody paid attention of course.

Touche, you certainly did (although that was more of a general statement, not really directed specifically towards you ).


Right now the community is focused on building much needed infrastructure for Litecoin. As far as the developers go, I could state the same thing (building up infrastructure, such as ltc electrum). Suggestions like the one you made are certainly noted but doubtful they will be implemented anytime soon. Most likely because our devs work closely with the BTC devs, we will end up implementing anything that BTC will have.

EDIT: I should mention once again that "new tech" doesnt mean a better or more widely used system. I mean, not to bash NXT but how many regular folks really know about it? People know about BTC, LTC, and Doge, but really no other coins at all. And this is what the goal is, to replace fiat (or have a secondary system). Plus new tech always has bugs in it and needs to be refined (I can point anyone to DRK and how its already been improved upon......should we really rush at the first "new tech" that comes out?).

[devphp]

...our devs work closely with the BTC devs, we will end up implementing anything that BTC will have.

That's exactly what makes Litecoin redundant.
Why have LTC in the first place if it doesn't strive to get to top and only does what Bitcoin does?
Silver to Bitcoin's gold is a false statement, because in real world silver has qualities that no other metal has, that's why silver is valued. LTC doesn't have unique qualities compared to Bitcoin and doesn't even want to implement them per your words.

[Lauda]

I think six months from now LTC will be surpassed by another alt in the #2 position, but LTC will not fade away to nothing by any means.

I think that you're partially correct. I'm thinking that it will need even more time for a switch to happen. The market is quiet most of the time.

[ShroomsKit_Disgrace]

Do you smell that?

 It is disgusting! what is it?

I tell you what is it, it is LTC dying painfully and slowly!

Did you see this BTC pump of the last hours?  What did LTC do? NOTHING!

[kelsey]

More I research and the longer I follow this crypto market the more I realise ltc will be the only alt that survives, the more people spit out the crapcoins the more likely ltc will remain number two to bitcoin.

Certainly no anon dev coin (outside of btc) will survive outside this niche community, and lets be honest 98% of coins created in the last year have been for something to mine to swap to btc/ltc or the we missed the btc/ltc boat coins, and that 2% legit well its lost fighting each other and lost amongst the 1001 shitcoins.

[Saigonsmokes]

Do you smell that?

 It is disgusting! what is it?

I tell you what is it, it is LTC dying painfully and slowly!

Did you see this BTC pump of the last hours?  What did LTC do? NOTHING!

Oh let me guess another NXT, DRK, NEM, GIMP coin fan.

Its obvious you missed the LTC/BTC boat. Poor you pumping coins that will deflate into nothing soon. 

[Saigonsmokes]

More I research and the longer I follow this crypto market the more I realise ltc will be the only alt that survives, the more people spit out the crapcoins the more likely ltc will remain number two to bitcoin.

Certainly no anon dev coin (outside of btc) will survive outside this niche community, and lets be honest 98% of coins created in the last year have been for something to mine to swap to btc/ltc or the we missed the btc/ltc boat coins, and that 2% legit well its lost fighting each other and lost amongst the 1001 shitcoins.

Glad people see through the trolls. Do your own research, I am not saying only BTC/LTC will succeed but half the coins being 'pumped' as the new number 2 will not go anywhere.

People who think DRK will ever succeed or be accepted are crazy - governments will ban it, your average joe bloggs wont touch it.

[devphp]

Its obvious you missed the LTC/BTC boat.

You can't miss the LTC boat, it will be as cheap as five buck in a couple of months, the boat is coming right back to us, but it's a one-way trip this time I suspect if the devs don't show any ambition to strive for #1.

[kelsey]

Its obvious you missed the LTC/BTC boat.

You can't miss the LTC boat, it will be as cheap as five buck in a couple of months, the boat is coming right back to us, but it's a one-way trip this time I suspect if the devs don't show any ambition to strive for #1.

lol number 1 what? v USD? I don't judge a cryptos worth on its price v USD. teller down the road from me, the coffeeshop down the road all accept ltc

[CoinBuzz]

I am not sure about litecoin

But i think Dogecoin will replace litecoin place first.