Litecoin is officially dead

[darkota]

I predicted that before ASICs came out.

https://bitcointalk.org/index.php?topic=644595

Read the thread, you were right.

Yeah, it seems you were mostly right in your predictions.

I doubt we'll see much from Quark ever again though.

Yea, Quark was excessively instamined along with only offering ASIC resistance and nothing else. Doubt it's price will ever go up much.

[harposox]

Charlie Lee has worked for Coinbase over a year and he can't even convince his superiors to adopt Litecoin, what does that tell you.

It tells me they can't find a counterparty they trust enough to regularly supply them with enough litecoin to get that segment of their business running. Lee has openly admitted that they're still two years behind bitcoin, development-wise – obviously this includes exchange infrastructure.

[Este Nuno]

Charlie Lee has worked for Coinbase over a year and he can't even convince his superiors to adopt Litecoin, what does that tell you.

It tells me they can't find a counterparty they trust enough to regularly supply them with enough litecoin to get that segment of their business running. Lee has openly admitted that they're still two years behind bitcoin, development-wise – obviously this includes exchange infrastructure.

And yet a coin like Bitmark(https://bitcointalk.org/index.php?topic=660544.0) has managed to get an scrypt coin codebase going based off the latest version of Bitcoin in less than a month with one unfunded developer? Wow. 300 mil market cap sure bought a whole lot of nothing.

Why aren't Litecoin holders more angry at this point? Why hasn't there been a mutiny or something to save the coin?

[devphp]

Litecoin holders don't control anything. Miners are the ones who are in control in PoW cryptos. That's why PoS cryptos are above PoW, because in PoS users are the ones who are in control, not miners. I don't want to picture users and miners as two opposing groups, but often they act just like that.

[Este Nuno]

Litecoin holders don't control anything. Miners are the ones who are in control in PoW cryptos. That's why PoS cryptos are above PoW, because in PoS users are the ones who are in control, not miners. I don't want to picture users and miners as two opposing groups, but often they act just like that.

Yeah, but even just a public effort or something to voice concerns. But from what I've seen from the Litecoin community someone trying to voice honest concerns and push the coin forward would probably be labeled as a 'FUDder'.

I think even the idea that Litecoin should be improved is offensive to Litecoiners. Maybe their logic is: "we got this far doing nothing, it would be wrong to mess with a good thing!".

[Youghoor]

I predicted that before ASICs came out.

https://bitcointalk.org/index.php?topic=644595

you were right and LTC ship is still sinking and I wonder how low it will go.

[devphp]

Yeah, but even just a public effort or something to voice concerns. But from what I've seen from the Litecoin community someone trying to voice honest concerns and push the coin forward would probably be labeled as a 'FUDder'.

I think even the idea that Litecoin should be improved is offensive to Litecoiners. Maybe their logic is: "we got this far doing nothing, it would be wrong to mess with a good thing!".

Yeah, they are a special kind, singing their 'silver to Bitcoin's gold' mantra with no clue that in real world silver has special properties that people value it for, which gold doesn't have, while in cryptos Litecoin doesn't have anything special, hence this mantra doesn't apply, but they still sing it. Old habits die hard.

[Biggen]

Yeah, but even just a public effort or something to voice concerns. But from what I've seen from the Litecoin community someone trying to voice honest concerns and push the coin forward would probably be labeled as a 'FUDder'.

I think even the idea that Litecoin should be improved is offensive to Litecoiners. Maybe their logic is: "we got this far doing nothing, it would be wrong to mess with a good thing!".

I concur.  I was a very large LTC holder until a few days ago when I sold a sizeable onto BTC-E.  I had lost my faith long ago in the coin but the last couple of weeks were the tipping point for me.  I was holding out hoping that things would turn around until I realized this:  LTC has ZERO advantages over BTC any longer since ASICS are in the wild.

The entire point of LTC was that it offered the everyday person a way to attain coins via GPU mining.  With that feature gone, what good is LTC??  BTC is gaining traction daily.  It is being accepted by more and more merchants.  If one mentions Bitcoin to the average Joe they probably couldn't tell you what it is but they have probably heard of it before.  Not so with LTC or any of the other alts out there.

LTC has a great Dev team along with a great community.  But it has already peaked.  I feel sorry for those that are blindly following the advice that some members of the LTC community are giving in so far as telling them that "it's the right time to buy now!" or "Your crazy if you sell now".  I shake my head when I see stuff like this.  There is no justifiable reason for LTC to go anywhere but down at this point.  It's a sad thing to have to say as I put a ton of money/time into it but I have a pretty good history of being in business for myself and I know when enough is enough and it's time to cut my loses.  This is one of those times.

[darkota]

Yeah, but even just a public effort or something to voice concerns. But from what I've seen from the Litecoin community someone trying to voice honest concerns and push the coin forward would probably be labeled as a 'FUDder'.

I think even the idea that Litecoin should be improved is offensive to Litecoiners. Maybe their logic is: "we got this far doing nothing, it would be wrong to mess with a good thing!".

I concur.  I was a very large LTC holder until a few days ago when I sold a sizeable onto BTC-E.  I had lost my faith long ago in the coin but the last couple of weeks were the tipping point for me.  I was holding out hoping that things would turn around until I realized this:  LTC has ZERO advantages over BTC any longer since ASICS are in the wild.

The entire point of LTC was that it offered the everyday person a way to attain coins via GPU mining.  With that feature gone, what good is LTC??  BTC is gaining traction daily.  It is being accepted by more and more merchants.  If one mentions Bitcoin to the average Joe they probably couldn't tell you what it is but they have probably heard of it before.  Not so with LTC or any of the other alts out there.

LTC has a great Dev team along with a great community.  But it has already peaked.  I feel sorry for those that are blindly following the advice that some members of the LTC community are giving in so far as telling them that "it's the right time to buy now!" or "Your crazy if you sell now".  I shake my head when I see stuff like this.  There is no justifiable reason for LTC to go anywhere but down at this point.  It's a sad thing to have to say as I put a ton of money/time into it but I have a pretty good history of being in business for myself and I know when enough is enough and it's time to cut my loses.  This is one of those times.

True words, LTC has no advantages over BTC, it isn't the "silver" to BTC's gold, simply because it offers nothing over BTC itself. Silver's properties are valuable because it offers some advantages over Gold. LTC doesn't offer anything over BTC, with it's ASIC resistance destroyed.

[Este Nuno]

Yeah, but even just a public effort or something to voice concerns. But from what I've seen from the Litecoin community someone trying to voice honest concerns and push the coin forward would probably be labeled as a 'FUDder'.

I think even the idea that Litecoin should be improved is offensive to Litecoiners. Maybe their logic is: "we got this far doing nothing, it would be wrong to mess with a good thing!".

I concur.  I was a very large LTC holder until a few days ago when I sold a sizeable onto BTC-E.  I had lost my faith long ago in the coin but the last couple of weeks were the tipping point for me.  I was holding out hoping that things would turn around until I realized this:  LTC has ZERO advantages over BTC any longer since ASICS are in the wild.

The entire point of LTC was that it offered the everyday person a way to attain coins via GPU mining.  With that feature gone, what good is LTC??  BTC is gaining traction daily.  It is being accepted by more and more merchants.  If one mentions Bitcoin to the average Joe they probably couldn't tell you what it is but they have probably heard of it before.  Not so with LTC or any of the other alts out there.

LTC has a great Dev team along with a great community.  But it has already peaked.  I feel sorry for those that are blindly following the advice that some members of the LTC community are giving in so far as telling them that "it's the right time to buy now!" or "Your crazy if you sell now".  I shake my head when I see stuff like this.  There is no justifiable reason for LTC to go anywhere but down at this point.  It's a sad thing to have to say as I put a ton of money/time into it but I have a pretty good history of being in business for myself and I know when enough is enough and it's time to cut my loses.  This is one of those times.

Yeah, there's no logical reason now why Litecoin should continue to be favored by the market. It had its place before for sure. But it would basically have to be a market failure if Litecoin continues to be the second place coin. That is of course unless the community does something about it. Which like I've said many times they should. All that money and dev talent that they could surely be putting to use is just wasting away unfortunately.

Ignoring competition doesn't make it go away. Oh, and Bitcoin is competition too. This isn't even just all about other altcoins. When you lose your primary differentiating feature over Bitcoin, what sense does it make to continue to hold? Bitcoin is improving albeit slowly. But the third party support is on fire. Lots of exciting things are being built on Bitcoin.

Litecoin supporters are exhibiting textbook cognitive dissonance. You seem to value your pocketbook over your emotions which is a good trait to have.

[darkota]

Yeah, but even just a public effort or something to voice concerns. But from what I've seen from the Litecoin community someone trying to voice honest concerns and push the coin forward would probably be labeled as a 'FUDder'.

I think even the idea that Litecoin should be improved is offensive to Litecoiners. Maybe their logic is: "we got this far doing nothing, it would be wrong to mess with a good thing!".

I concur.  I was a very large LTC holder until a few days ago when I sold a sizeable onto BTC-E.  I had lost my faith long ago in the coin but the last couple of weeks were the tipping point for me.  I was holding out hoping that things would turn around until I realized this:  LTC has ZERO advantages over BTC any longer since ASICS are in the wild.

The entire point of LTC was that it offered the everyday person a way to attain coins via GPU mining.  With that feature gone, what good is LTC??  BTC is gaining traction daily.  It is being accepted by more and more merchants.  If one mentions Bitcoin to the average Joe they probably couldn't tell you what it is but they have probably heard of it before.  Not so with LTC or any of the other alts out there.

LTC has a great Dev team along with a great community.  But it has already peaked.  I feel sorry for those that are blindly following the advice that some members of the LTC community are giving in so far as telling them that "it's the right time to buy now!" or "Your crazy if you sell now".  I shake my head when I see stuff like this.  There is no justifiable reason for LTC to go anywhere but down at this point.  It's a sad thing to have to say as I put a ton of money/time into it but I have a pretty good history of being in business for myself and I know when enough is enough and it's time to cut my loses.  This is one of those times.

Yeah, there's no logical reason now why Litecoin should continue to be favored by the market. It had its place before for sure. But it would basically have to be a market failure if Litecoin continues to be the second place coin. That is of course unless the community does something about it. Which like I've said many times they should. All that money and dev talent that they could surely be putting to use is just wasting away unfortunately.

Ignoring competition doesn't make it go away. Oh, and Bitcoin is competition too. This isn't even just all about other altcoins. When you lose your primary differentiating feature over Bitcoin, what sense does it make to continue to hold? Bitcoin is improving albeit slowly. But the third party support is on fire. Lots of exciting things are being built on Bitcoin.

Litecoin supporters are exhibiting textbook cognitive dissonance. You seem to value your pocketbook over your emotions which is a good trait to have.

LTC as of now offers nothing that Bitcoin doesn't. Real silver has properties and uses that Gold doesn't, which is what makes it valuable. Litecoin has no reasons to use it over bitcoin, it has no features Bitcoin doesn't, no first mover advantage, no adoption, and a very ignorant community on Litecointalk(There aren't a lot of members anyway). All the whales have already cashed out, all that's left is Litecoin bagholders... Litecoin's time is over.

[harposox]

And yet a coin like Bitmark(https://bitcointalk.org/index.php?topic=660544.0) has managed to get an scrypt coin codebase going based off the latest version of Bitcoin in less than a month with one unfunded developer? Wow. 300 mil market cap sure bought a whole lot of nothing.

Alt coins are products. Copying some code is merely the first step in the long process of creating a viable product; it's meaningless without marketing, distribution, market penetration, consumer adoption, etc. Litecoin is light years ahead of its competition in all of these areas. This is the real world, not some college tech lab.

Why aren't Litecoin holders more angry at this point? Why hasn't there been a mutiny or something to save the coin?

There's nothing to "save." Litecoin is perfectly fine. Being so price-obsessed misses the point. Litecoin will rebound, skyrocket, and then wither again... rinse, repeat. Not an interest/investment for the faint of heart, or for short-term thinkers. Price matters, but we're in the early days of a paradigm-shifting technology – shit's going to be uncertain, and extremely volatile, for a long ass time.

[harposox]

And yet a coin like Bitmark(https://bitcointalk.org/index.php?topic=660544.0) has managed to get an scrypt coin codebase going based off the latest version of Bitcoin in less than a month with one unfunded developer? Wow. 300 mil market cap sure bought a whole lot of nothing.

Alt coins are products. Copying some code is merely the first step in the long process of creating a viable product; it's meaningless without marketing, distribution, market penetration, consumer adoption, etc. Litecoin is light years ahead of its competition in all of these areas. This is the real world, not some college tech lab.

Why aren't Litecoin holders more angry at this point? Why hasn't there been a mutiny or something to save the coin?

There's nothing to "save." Litecoin is perfectly fine. Being so price-obsessed misses the point. Litecoin will rebound, skyrocket, and then wither again... rinse, repeat. Not an interest/investment for the faint of heart, or for short-term thinkers. Price matters, but we're in the early days of a paradigm-shifting technology – shit's going to be uncertain, and extremely volatile, for a long ass time.

[Este Nuno]

There's nothing to "save." Litecoin is perfectly fine. Being so price-obsessed misses the point. Litecoin will rebound, skyrocket, and then wither again... rinse, repeat. Not an interest/investment for the faint of heart, or for short-term thinkers. Price matters, but we're in the early days of a paradigm-shifting technology – shit's going to be uncertain, and extremely volatile, for a long ass time.

Why though? Why do you expect the same pattern to repeat? The evidence is suggesting that LTC is decoupling from BTC.

The issue is now that Litecoin isn't the one shifting the paradigm anymore. So why should investors and users choose LTC over BTC even, let alone myriad competitors offing real advantages and improvements in technology.

What is Litecoins sales pitch these days? Before it was ASIC resistance, faster confirms than bitcoin, and new development(3 years ago that is) that's an alternative to Bitcoin. Now it's just faster confirms pretty much.

[devphp]

The btc-e trollbox speculators look like dinosaurs now from ages ago. They discuss Litecoin and why it's falling ad nauseum without realizing that there is a whole new PoS world brewing two clicks away that btc-e didn't present to them

[Aricoin_Mike]

The btc-e trollbox speculators look like dinosaurs now from ages ago. They discuss Litecoin and why it's falling ad nauseum without realizing that there is a whole new PoS world brewing two clicks away that btc-e didn't present to them

Well said.

[darkota]

The btc-e trollbox speculators look like dinosaurs now from ages ago. They discuss Litecoin and why it's falling ad nauseum without realizing that there is a whole new PoS world brewing two clicks away that btc-e didn't present to them

Well said.

Yea, BTC-E is just lagging behind, they are stuck in the past, and resist change.

[Este Nuno]

The btc-e trollbox speculators look like dinosaurs now from ages ago. They discuss Litecoin and why it's falling ad nauseum without realizing that there is a whole new PoS world brewing two clicks away that btc-e didn't present to them

Well said.

Yea, BTC-E is just lagging behind, they are stuck in the past, and resist change.

Odd that they don't take the 1000's of bitcoin extra daily volume they would get by adding some new coins, no?

[darkota]

The btc-e trollbox speculators look like dinosaurs now from ages ago. They discuss Litecoin and why it's falling ad nauseum without realizing that there is a whole new PoS world brewing two clicks away that btc-e didn't present to them

Well said.

Yea, BTC-E is just lagging behind, they are stuck in the past, and resist change.

Odd that they don't take the 1000's of bitcoin extra daily volume they would get by adding some new coins, no?

It is very odd, maybe their just too lazy to add new coins? They feel as if they get enough $ from already? Idk, but that exchange is becoming more of a mystery to me.

[BitJohn]

The btc-e trollbox speculators look like dinosaurs now from ages ago. They discuss Litecoin and why it's falling ad nauseum without realizing that there is a whole new PoS world brewing two clicks away that btc-e didn't present to them

Well said.

Yea, BTC-E is just lagging behind, they are stuck in the past, and resist change.

Odd that they don't take the 1000's of bitcoin extra daily volume they would get by adding some new coins, no?

It is very odd, maybe their just too lazy to add new coins? They feel as if they get enough $ from already? Idk, but that exchange is becoming more of a mystery to me.

Carrying all the extra coins brings a ton of extra overhead and issues I am sure that plays a ton into it.