Litecoin is officially dead

[RealBitcoin]

This must be the biggest FUD thread of all time.

Litecoin is not dead, but it certainly needs more innovation / merchants / investors.

Litecoin.com

Yes the website is very well designed, its so smooth and animated that it feels good to browse it.

However besides strong facebook presence and a nice website, its not that innovative yes, mostly because merchant adoption and venture firms dont really use it that much.

[n2004al]

Litecoin is officially dead, why you may ask?

What Litecoin used to offer:

ASIC Resistance
GPU Resistance
2.5minute blocktime


What Litecoin now offers:
2.5minute blocktime



Basically, Litecoin is worth less than Blackcoin, Netcoin, OompaLoompaCoin, heck, practically anycoin that has a faster blocktime and Any other feature... Litecoin offers absolutely nothing over what 99% of these alt coins offers, even the worst alt coin offer more innovative features than Litecoin. And to those litecoin bagholders, who say that "Litecoins age and adoption" is something it offers, that's not true..There are NO reputable stores Worldwide that accept Litecoin, not one.

Verdict: Litecoin is dead, it hasn't been updated in years, it's a practically abandoned coin. I'm gonna feel really sorry to all the litecoin bagholders that are still "HODLING" when Litecoin reaches $1, 50 cents, 10 cents etc.

I never believed on it. First of all because of its very low value. then it is a "clone" of bitcoin. Another digital coin even if is different from it. But for which worth? What have different compare to bitcoin? Which thing complete that bitcoin is not able to do?

[g1974ak]

Litecoin is officially dead, why you may ask?

What Litecoin used to offer:

ASIC Resistance
GPU Resistance
2.5minute blocktime


What Litecoin now offers:
2.5minute blocktime



Basically, Litecoin is worth less than Blackcoin, Netcoin, OompaLoompaCoin, heck, practically anycoin that has a faster blocktime and Any other feature... Litecoin offers absolutely nothing over what 99% of these alt coins offers, even the worst alt coin offer more innovative features than Litecoin. And to those litecoin bagholders, who say that "Litecoins age and adoption" is something it offers, that's not true..There are NO reputable stores Worldwide that accept Litecoin, not one.

Verdict: Litecoin is dead, it hasn't been updated in years, it's a practically abandoned coin. I'm gonna feel really sorry to all the litecoin bagholders that are still "HODLING" when Litecoin reaches $1, 50 cents, 10 cents etc.

The owners finally must have understand that litecoin is only another digital coin that have nothing special compare to bitcoin (except its algoritm). So it don't serve for nothing special and don't do nothing more compare to the servings offered by bitcoin. What if litecoin don't exist? Which can be lost? To not speak for its very low market value.

[RealBitcoin]

Litecoin is officially dead, why you may ask?

What Litecoin used to offer:

ASIC Resistance
GPU Resistance
2.5minute blocktime


What Litecoin now offers:
2.5minute blocktime



Basically, Litecoin is worth less than Blackcoin, Netcoin, OompaLoompaCoin, heck, practically anycoin that has a faster blocktime and Any other feature... Litecoin offers absolutely nothing over what 99% of these alt coins offers, even the worst alt coin offer more innovative features than Litecoin. And to those litecoin bagholders, who say that "Litecoins age and adoption" is something it offers, that's not true..There are NO reputable stores Worldwide that accept Litecoin, not one.

Verdict: Litecoin is dead, it hasn't been updated in years, it's a practically abandoned coin. I'm gonna feel really sorry to all the litecoin bagholders that are still "HODLING" when Litecoin reaches $1, 50 cents, 10 cents etc.

The owners finally must have understand that litecoin is only another digital coin that have nothing special compare to bitcoin (except its algoritm). So it don't serve for nothing special and don't do nothing more compare to the servings offered by bitcoin. What if litecoin don't exist? Which can be lost? To not speak for its very low market value.

Well the blocktime is certainly more convenient, but because the blocksize increases even harder, and it's price doesnt, miners will become unprofitable very soon, and then the litecoin will die.


If blockchainsize> price of litecoin mined to store it, then its oficially dead.


See bitcoin has 10 min timer, but its price is already increasing so this danger wont affect bitcoin, but it will affect many other cryptos.


Rule of thumb: If a cryptocoin after 5 years can't achieve 100$ price, then its probably lost.

[azguard]

lite will be here for long time

The owners finally must have understand that litecoin is only another digital coin that have nothing special compare to bitcoin (except its algoritm).

and yes now he is just like any other coin if something big doesnt happen any time soon

[americanpegasus]

Rule of thumb: If a cryptocoin after 5 years can't achieve 100$ price, then its probably lost.

So what if I release KazakhstanCoin with 9 total coins, and after five years they are still valued at $100 each? 
 

[RealBitcoin]

Rule of thumb: If a cryptocoin after 5 years can't achieve 100$ price, then its probably lost.

So what if I release KazakhstanCoin with 9 total coins, and after five years they are still valued at $100 each? 
 

I`m talking about general cryprto coins, each one has atleast 1.000.000 total coin supply.

Obviously those that have 1 trillion coin supply, will never reach 100$ since they can never have a market cap that big which increases the price of all units of currency, hence, by default ,those coins will fail.

So let's say you can expect atleast 10.000.000$ on average for a succesful coin, thus the optimal coin supply is about 100.000 coins, with 8-15 decimal points, in case you wanna divide it to small units to let further growth stimulate.


Litecoin has 84m total supply, dogecoin has no cap.

Thus dogecoin is a pile of dogturd and will fail before litecoin, so no need to worry about litecoin yet.

[g3rszpi]

lite will be here for long time

The owners finally must have understand that litecoin is only another digital coin that have nothing special compare to bitcoin (except its algoritm).

and yes now he is just like any other coin if something big doesnt happen any time soon

+1. Innovation is the main "engine" of cryptos (i'm not speaking now about shitcoins)

[DooMAD]

This must be the biggest FUD thread of all time.

Litecoin is not dead, but it certainly needs more innovation / merchants / investors.

Those are precisely the things it doesn't seem to be getting, though.  Where is the innovation supposed to come from when the developers aren't adding innovative features?  Where are the merchants supposed to come from when Litecoin's sole use appears to be a speculative asset?  Where are the investors supposed to come from when the coin looks like it's on life-support?  Sure, the coin has had a minor spike in the last few weeks, but it still doesn't look like it has a promising future.

These are the latest additions to Litecoin:

What's New in version v0.10?
This is a major release of Litecoin Core, featuring the technical equivalent of Bitcoin v0.10.2 but with Litecoin specific patches. On a general level, most of what is new is is hidden where block synchronization and various internals are considerably faster and more efficient, and it has several major privacy improvements.  The most significant changes include:

    Watch-only wallet support. This allows the wallet to track transactions to and form wallets for which you know the address of but do not have the private key to.
    Faster blockchain synchronization due to headers-first synchronization and support for downloading blocks in parallel. Downloading the blockchain is now much quicker and can be completed within a few hours instead of taking days for some users.
    A REST interface which allows unauthenticated access to public node data when the -rest flag is specified.
    RPC Server “Warm-Up” Mode which starts earlier than previous versions. This helps users or services relying on it know that the server has already started and will be available soon.
    Improved signing security. This is due to using the libsecp256k1 library for signing instead of OpenSSL. libsecp256k1 is a cryptographic library optimized for elliptic curve uses which Litecoin relies on and was created by Bitcoin Core developer Pieter Wuille. Featuring better security, via hardening against timing leaks and derandomization, this library is believed to be better tested and more thoroughly reviewed than the implementation in OpenSSL.
    New utility applications including litecoin-tx for transaction related functionality and litecoin-cli for RPC command line functionality as litecoind no longer accepts them.
    Strict DER encoding for signatures (BIP 66). This introduces block version 3 and a new consensus rule which prevents non-standard transactions from being included in blocks. This also removes the dependency on OpenSSL’s signature parsing. Eventually, libsecp256k1 will be used for all consensus related tasks, depreciating the need for OpenSSL entirely.
    RPC Access Changes. RPC access now supports binary network addresses. This means that you can specify a single IP address, a CIDR network address or a netmask for accessing the RPC service. Please note, wildcard string matching no longer works and will display an error in the debug.log file when you attempt to use use a wildcard string in the rpcallowip= variable, either as a config setting or launch parameter.

The major user-visible features that were new in Bitcoin v0.9 and v0.10 are not actually new for Litecoin v0.10 because we backported it to Litecoin v0.8 (like Coin Control).


What’s New in version v0.10.2.2?
Litecoin v0.10.2.2 is a minor release from the previous release candidate, featuring improvements and bug fixes. The changes can be seen below:

    Added option -alerts’ to opt out of the network alert system. Please note that disabling network alerts should only be used by power users as this system is used for network emergencies and important security releases. The default behavior is that network alerts are enabled.
    Detect and reject LibreSSL. This prevents a non-approved SSL library being used for compiling Litecoin Core, preventing potential consensus compatibility issues.
    Improved getbalance RPC functionality to allow the user to display zero confirmation transactions (this works with watch-only addresses as well).
    PID file bug fix for non-Windows based systems.
    Bug fix for signing and verifying messages.

Wow.  Exciting stuff.  Clearly setting the world alight there.  

Now lets look at the search results for Litecoin in the news:  https://www.google.com/search?q=litecoin&tbm=nws

That's right, endless pages of "price analysis" because no one actually gives a shit about the coin itself, just how much they can sell it for.  Again, speculative asset, nothing more.  LTC could be doing so much but just sits there waiting for people to notice it still exists.  Add support for Automated Transactions and Turing complete smart contracts.  This would also allow LTC to be traded with any other coin supporting AT without using a centralised exchange.  There's something Bitcoin can't do, decentralised blockchain-to-blockchain trading.  Now that would be innovation.  Hell, just pick any feature at random from another coin and add it to Litecoin, just to make it look like someone's still doing something to drag this comatose sack back from the dead.

[srgkrgkj]

lite will be here for long time

The owners finally must have understand that litecoin is only another digital coin that have nothing special compare to bitcoin (except its algoritm).

and yes now he is just like any other coin if something big doesnt happen any time soon

agreed mate litecoin has risen in value considerably and shows no sing in growth slowing down we broke the 3.00 barrier easily and that was uncertain for most of the time tbh

[g3rszpi]

Lite coin is not dead as  we see the market cap is $ 192,638,207 and for 24 hours there is a + 12.51 % increase.

24h changes doesnt really matter in such a question

[RealBitcoin]

This must be the biggest FUD thread of all time.

Litecoin is not dead, but it certainly needs more innovation / merchants / investors.

Those are precisely the things it doesn't seem to be getting, though.  Where is the innovation supposed to come from when the developers aren't adding innovative features?  Where are the merchants supposed to come from when Litecoin's sole use appears to be a speculative asset?  Where are the investors supposed to come from when the coin looks like it's on life-support?  Sure, the coin has had a minor spike in the last few weeks, but it still doesn't look like it has a promising future.

These are the latest additions to Litecoin:

What's New in version v0.10?
This is a major release of Litecoin Core, featuring the technical equivalent of Bitcoin v0.10.2 but with Litecoin specific patches. On a general level, most of what is new is is hidden where block synchronization and various internals are considerably faster and more efficient, and it has several major privacy improvements.  The most significant changes include:

    Watch-only wallet support. This allows the wallet to track transactions to and form wallets for which you know the address of but do not have the private key to.
    Faster blockchain synchronization due to headers-first synchronization and support for downloading blocks in parallel. Downloading the blockchain is now much quicker and can be completed within a few hours instead of taking days for some users.
    A REST interface which allows unauthenticated access to public node data when the -rest flag is specified.
    RPC Server “Warm-Up” Mode which starts earlier than previous versions. This helps users or services relying on it know that the server has already started and will be available soon.
    Improved signing security. This is due to using the libsecp256k1 library for signing instead of OpenSSL. libsecp256k1 is a cryptographic library optimized for elliptic curve uses which Litecoin relies on and was created by Bitcoin Core developer Pieter Wuille. Featuring better security, via hardening against timing leaks and derandomization, this library is believed to be better tested and more thoroughly reviewed than the implementation in OpenSSL.
    New utility applications including litecoin-tx for transaction related functionality and litecoin-cli for RPC command line functionality as litecoind no longer accepts them.
    Strict DER encoding for signatures (BIP 66). This introduces block version 3 and a new consensus rule which prevents non-standard transactions from being included in blocks. This also removes the dependency on OpenSSL’s signature parsing. Eventually, libsecp256k1 will be used for all consensus related tasks, depreciating the need for OpenSSL entirely.
    RPC Access Changes. RPC access now supports binary network addresses. This means that you can specify a single IP address, a CIDR network address or a netmask for accessing the RPC service. Please note, wildcard string matching no longer works and will display an error in the debug.log file when you attempt to use use a wildcard string in the rpcallowip= variable, either as a config setting or launch parameter.

The major user-visible features that were new in Bitcoin v0.9 and v0.10 are not actually new for Litecoin v0.10 because we backported it to Litecoin v0.8 (like Coin Control).


What’s New in version v0.10.2.2?
Litecoin v0.10.2.2 is a minor release from the previous release candidate, featuring improvements and bug fixes. The changes can be seen below:

    Added option -alerts’ to opt out of the network alert system. Please note that disabling network alerts should only be used by power users as this system is used for network emergencies and important security releases. The default behavior is that network alerts are enabled.
    Detect and reject LibreSSL. This prevents a non-approved SSL library being used for compiling Litecoin Core, preventing potential consensus compatibility issues.
    Improved getbalance RPC functionality to allow the user to display zero confirmation transactions (this works with watch-only addresses as well).
    PID file bug fix for non-Windows based systems.
    Bug fix for signing and verifying messages.

Wow.  Exciting stuff.  Clearly setting the world alight there.  

Now lets look at the search results for Litecoin in the news:  https://www.google.com/search?q=litecoin&tbm=nws

That's right, endless pages of "price analysis" because no one actually gives a shit about the coin itself, just how much they can sell it for.  Again, speculative asset, nothing more.  LTC could be doing so much but just sits there waiting for people to notice it still exists.  Add support for Automated Transactions and Turing complete smart contracts.  This would also allow LTC to be traded with any other coin supporting AT without using a centralised exchange.  There's something Bitcoin can't do, decentralised blockchain-to-blockchain trading.  Now that would be innovation.  Hell, just pick any feature at random from another coin and add it to Litecoin, just to make it look like someone's still doing something to drag this comatose sack back from the dead.

Litecoin is Bitcoin's little brother, and it hasnt grown up yet.

I`m sure the Litecoin devs are very lazy, i mean litecoin has been around since bitcoin, and both were similar price at a time, but now bitcoin has far surpassed Litecoin. Devs only added watch only support lately? Yep that sucks, that should have been done years ago.

I think Litecoin wont die, because many fans still use it, but until it hits a critical mass, no business will use it, although its definitely a good speculative instrument.


Look at the analogy, suppose Bitcoin is gold and Litecoin is copper.

Now it's obvious that people use gold more than copper, but that doesnt mean copper will just cease to exist, it will lurk around and continue to exist in a more hidden and obscure way, but it will still be here. Same can be said about Litecoin.

[unusualfacts30]

so glad I bought it at 0.014 during weekend. 

[SnowLion]

The thing is, it comes down to Litecoins liquidity...it's available EVERYWHERE, and many websites accept it or deal with it.

Websites dealing with cryptocurrency and payments, Casino's and exchanges, money changers and game sites, just a name a few, almost always accept Litecoin. It was one of the first, so, people know it.

 If people know about bitcoin, and you ask them "do you know any about other cryptocurrencies", they will name Litecoin. That word of mouth is worth a lot. Let's not fool ourselves here, if we go to some website that accepts crypto, Litecoin is nearly always one of the first things that is "accepted here"...how common is that? Very common. That's liquidity.

 Liquidity triumphs these minor innovations we are seeing. What innovations has gold or silver came up with over the centuries of use??? Not many, but it's accepted everywhere because people KNOW it.

If I go to a website and they say we accept Bitcoin, how often does it say "Also we accept Monero, Vanilla, Maidsafe or BTS...Ripple?" come on now get serious. It will invariably say that they accept BITCOIN, LITECOIN, and sometimes DOGE (which is much more like copper to litecoins Silver standard and Bitcoins Gold standard) though I don't think very highly of Doge.

The thing is, I only "got into" crypto 4 or 5 months ago. I tried to learn as much as I could as quickly as possibly, naturally. One of the things I noticed as a crypto novice was how many websites talked about litecoin, accepted/transacted litecoin deposits, and I learned that it was something important.

Liquidity and mass acceptance or collective understanding is extremely important in marketing and capitalism. Some people don't like to accept that fact but it's a massive part of why litecoin is so popular and is here to stay. It will continue to develop and grow in technology and adoption, and price.

Finally considering that Litecoin is marketed as the Silver to Bitcoins Gold, if we realize that the historical gold/silver ratio was 15/1 Litecoin would have a true value of just under $20 USD per coin at current BTC prices. If we go by the average ratio in the 20th century, the ratio was closer to 47/1 which would still put Litecoin at about $6.40 today, which means it is currently slightly undervalued, and is due for correction very soon. Also note that silver has always been much more volatile then gold, and so smart investors may like to diversify their portfolios based on this fact and the guarantee of a coin that moves a lot, but is ultimately hedged on the value of bitcoin. If we look at history of the two coins this analysis is correct.

Finally, one more thing to think about with Litecoin is that capitalism demands competition. Coca-cola has Pepsi, Mcdonalds has Burger King, Japanese cars like Toyota compete with American cars like Ford (though I prefer Asian cars!), IBM and Macintosh and so on. Historically we just need to look at great products to realize that Bitcoin will need some major competitor at some point, it cannot stay number one forever with no one to challenge it, that's not the way economics works. Could we see Litecoin eventually fight for second place or higher? Dash, Monero, Ripple, Bts, Etherium? Bitcoins monopoly in crypto demands that it WILL some competition, that we can just look at history to realize.

 Who will it be? Litecoin could very well be it, or at least be one of the front runners.

 Again, liquidity and mass early adoption/understanding in the collective minds of users the world over is going to be a big factor; Litecoin was one of the first major cryptocurrency projects, and thus this will always continue to help foster it's growth. It's here to stay and will continue to get more and more powerful. Mark my words. The big pump in early July was a good example of it's world wide potential for overnight growth,
the halving is going to make doubters reconsider!  

[srgkrgkj]

The thing is, it comes down to Litecoins liquidity...it's available EVERYWHERE, and many websites accept it or deal with it.

Websites dealing with cryptocurrency and payments, Casino's and exchanges, money changers and game sites, just a name a few, almost always accept Litecoin. It was one of the first, so people know it. If people know about bitcoin, and you ask them "do you know any about other cryptocurrencies", they will name Litecoin. That word of mouth is worth a lot. Let's not fool ourselves here, if we go to some website that accepts crypto Litecoin is nearly always one of the first things that is "accepted here"...how common is that? Very common. That's liquidity.

 Liquidity triumphs these minor innovations we are seeing. What innovations has gold or silver came up with over the centuries of use??? Not many, but it's accepted everywhere because people KNOW it.

If I go to a website and they say we accept Bitcoin, how often does it say "Also we accept Monero, Vanilla, Maidsafe or BTS...Ripple?" come on now get serious. It will invariably say that they accept BITCOIN, LITECOIN, and sometimes DOGE (which is much more like copper to litecoins Silver standard and Bitcoins Gold standard) though I don't think very highly of Doge.

The thing is, I only "got into" crypto 4 or 5 months ago. I tried to learn as much as I could as quickly as possibly, naturally. One of the things I noticed as a crypto novice was how many websites talked about litecoin, accepted/transacted litecoin deposits, and I learned that it was something important.

Liquidity and mass acceptance or collective understanding is extremely important in marketing and capitalism. Some people don't like to accept that fact but it's a massive part of why litecoin is so popular and is here to stay. It will continue to develop and grow in technology and adoption, and price.

Finally considering that Litecoin is marketed as the Silver to Bitcoins Gold, if we realize that the historical gold/silver ratio was 15/1 Litecoin would have a true value of just under $20 USD per coin at current BTC prices. If we go by the average ratio in the 20th century, the ratio was closer to 47/1 which would still put Litecoin at about $6.40 today, which means it is currently slightly undervalued, and is due for correction very soon. Also note that silver has always been much more volatile then gold, and so smart investors may like to diversify their portfolios based on this fact and the guarantee of a coin that moves a lot, but is ultimately hedged on the value of bitcoin. If we look at history of the two coins this analysis is correct.

Finally, one more thing to think about with Litecoin is that capitalism demands competition. Coca-cola has Pepsi, Mcdonalds has Burger King, Japanese cars like Toyota compete with American cars like Ford (though I prefer Asian cars!), IBM and Macintosh and so on. Historically we just need to look at great products to realize that Bitcoin will need some major competitor at some point, it cannot stay number one forever with no one to challenge it, that's not the way economics works. Could we see Litecoin eventually fight for second place or higher? Dash, Monero, Ripple, Bts, Etherium? Bitcoins monopoly in crypto demands that it WILL some competition, that we can just look at history to realize.

 Who will it be? Litecoin could very well be it, or at least on of the front runners. Again, liquidity and mass early adoption/understanding in the collective minds of users the world over is going to be a big factor; litecoin was one of the first major projects and this will always continue to help foster it's growth. It's here to stay and will continue to get more and more powerful. Mark my words. The big pump in early July was a good example of it's world wide potential for overnight growth,
the halving is going to make doubters reconsider!  

you summarized some of the most important issues surrounding the growth of litecoin right there mate and I think that the future for scrypt coins particularly litecoin is going to be bright mate

[azguard]

lite will be here for long time

The owners finally must have understand that litecoin is only another digital coin that have nothing special compare to bitcoin (except its algoritm).

and yes now he is just like any other coin if something big doesnt happen any time soon

agreed mate litecoin has risen in value considerably and shows no sing in growth slowing down we broke the 3.00 barrier easily and that was uncertain for most of the time tbh

he is holding for stable now seem like it will be another jump and that it will stay on jump price or go back to 3-4$ range after this halving

[Oscilson]

This must be the biggest FUD thread of all time.

Litecoin is not dead, but it certainly needs more innovation / merchants / investors.

More innovation is required.

[TheMage]

This must be the biggest FUD thread of all time.

Litecoin is not dead, but it certainly needs more innovation / merchants / investors.

More innovation is required.

I put this in google translate and got this, I think this is correct.


"I need more events to happen with Litecoin in order to continue the volatility and make more money off of it"

[Its About Sharing]

Refresh my memory... How many times now has Litecoin been "officially dead"?

With no developers, no new content added, a dying community, and getting destroyed by ASIC's. Litecoin's 9 lives have run up.

I wonder though, does LTC really need any more features? The presence of ASICs is going to make it quite interesting. Will the network start to centralize? Will Wall St. Want a #2? Remember, even with BTC T 600 bucks app., we are VERY early adopters.

Basically, I'm saying we don't know. I still have 1/3 of my position in it as when we broke .02 I saved what profits I had and rolled 1/2 that into XMR. The alts are nice in this way as you can (still) move things around with no tax implications. Another reason LTC is nice to have.

I get the feeling that when we look back on this time, we are just going to laugh at some of what we thought.
We are still in the womb.

Wow, over a year later and LTC is still alive!

 

[Jammalan the Prophet]

Refresh my memory... How many times now has Litecoin been "officially dead"?

With no developers, no new content added, a dying community, and getting destroyed by ASIC's. Litecoin's 9 lives have run up.

I wonder though, does LTC really need any more features? The presence of ASICs is going to make it quite interesting. Will the network start to centralize? Will Wall St. Want a #2? Remember, even with BTC T 600 bucks app., we are VERY early adopters.

Basically, I'm saying we don't know. I still have 1/3 of my position in it as when we broke .02 I saved what profits I had and rolled 1/2 that into XMR. The alts are nice in this way as you can (still) move things around with no tax implications. Another reason LTC is nice to have.

I get the feeling that when we look back on this time, we are just going to laugh at some of what we thought.
We are still in the womb.

Wow, over a year later and LTC is still alive!

 

Remind me to repost it again in 1 year