Ideas to raise the value of BTC or LTC

[ShakyhandsBTCer]

Nothing drives the price up quite like demand of use.  If some website, say Amazon, says they'll take a crypto.  The price will rise.  It's not because the coins are more rare, but because they are being accepted.  Any of us can take our coins, sell at an exchange for fiat, move fiat to bank account, and then buy the item from Amazon - but it's a lot easier to just use the coin as intended.

This is correct but the question is how to get more people to use bitcoin.

If more people use bitcoin then more merchants will want to accept bitcoin for payment.

If more merchants accept bitcoin for payment (and potentially offer discounts based on it's lower cost) then more people will start to use bitcoin.

This is a issue of what comes first, the chicken or the egg

[ajareselde]

Read more about what Litecoin is up to here:

https://bitcointalk.org/index.php?topic=661938.0

this is so dumb thread; litecoin is dying, and in that thread it says "litecoin has great dev"
litecoin has 0 development, nothing new is happening, zero , nada , nula , nichts

i would love to see some big news on ltc, some progress, anything, because in combination with diff going crazy up due to asics it would push the price way higher.
but sadly there is just nothing happening there..

[FreeJack2k2]

this is so dumb thread; litecoin is dying, and in that thread it says "litecoin has great dev"
litecoin has 0 development, nothing new is happening, zero , nada , nula , nichts

i would love to see some big news on ltc, some progress, anything, because in combination with diff going crazy up due to asics it would push the price way higher.
but sadly there is just nothing happening there..

Nothing is happening? You say this why...because they aren't hard forking every couple of months to throw the latest gimmicks into the protocol, which wouldn't improve it in any measurable way?

You don't fix what ain't broke.

[BitcoinLlama]

Hello Reader,

Will TV commercials, billboard advertising and sponsoring events or racecars raise the value of BTC or LTC?

If you have an another Idea please reply. I am thinking of realising one or more ideas.

The best cheapest way is to leverage the internet.

[Marlo Stanfield]

Well, BTC is growing by having business adopt it and through the building of a strong infrastructure on top of it. Advertising might help a little but just getting the name of Bitcoin out the public space isn't going to be suffcient for the public to truely embrace Bitcoin and use it as a currency. A focus on education is probably what would be required. And it's not an easy task to educate a public which has no desire to learn(of course some people do, but I think it's safe to assume the majority do not).

As far as LTC goes, I don't feel that Litecoin has shown any innovation or progress since 2011 when it was created. I don't see the much to the argument for Litecoin continuing to be a major cryptocurrency unless the development team seriously steps up and starts adding innovated features. Considering how many new and exciting technologies are coming out in the crypto space right now it's likely Litecoin is going to be left behind unless something changes soon.

I'm sorry, not to sound like an ass but where is all the BTC innovation? This is an old and stale argument. I can replace the LTC in the above quote with BTC and it has the same meaning.


The fact of the matter is that BTC and LTC work together. The devs work together, and even the P2pool code received a tremendous donation from the LTC devs/community (which everyone uses, everyone meaning coins not people lol). BTC and LTC are brothers, LTC just happens to be a year behind in just about everything, but still light years ahead of other coins.

BTC has lots of innovation. Coloured coins, Lighthouse, tons of third party applications being built on top of BTC. Yes, the core protocol evolves at a snails pace. But with BTC the community is so large that all of these outside features that work with BTC can make up for it. With LTC there is nothing as far as I know. BTC and LTC don't work together, I don't see that connection at all really.

On the other hand there are lots of altcoins innovating lightning speed. Adding features like crazy while LTC does nothing but collect dust.

Personally, I would love to see a push to modernize LTC and bring it back to its former glory. But I don't see anyone from the LTC community caring enough to start in that direction.

[geforcelover]

well i want to see the price of btc to hit almost 2000$ then i m happy ..

[odolvlobo]

I agree with the others that question the benefit of a rising price. I think the price is fine where it is. A stable price is best for everyone. A stable price would promote adoption more than any advertising or NASCAR sponsorships.

[Cicero2.0]

I am pretty new to the crypto community but litecoin looks very interesting. I would like to see some infrastructure going up around it like bitcoin has going on.

[ShakyhandsBTCer]

Well, BTC is growing by having business adopt it and through the building of a strong infrastructure on top of it. Advertising might help a little but just getting the name of Bitcoin out the public space isn't going to be suffcient for the public to truely embrace Bitcoin and use it as a currency. A focus on education is probably what would be required. And it's not an easy task to educate a public which has no desire to learn(of course some people do, but I think it's safe to assume the majority do not).

As far as LTC goes, I don't feel that Litecoin has shown any innovation or progress since 2011 when it was created. I don't see the much to the argument for Litecoin continuing to be a major cryptocurrency unless the development team seriously steps up and starts adding innovated features. Considering how many new and exciting technologies are coming out in the crypto space right now it's likely Litecoin is going to be left behind unless something changes soon.

I'm sorry, not to sound like an ass but where is all the BTC innovation? This is an old and stale argument. I can replace the LTC in the above quote with BTC and it has the same meaning.


The fact of the matter is that BTC and LTC work together. The devs work together, and even the P2pool code received a tremendous donation from the LTC devs/community (which everyone uses, everyone meaning coins not people lol). BTC and LTC are brothers, LTC just happens to be a year behind in just about everything, but still light years ahead of other coins.

BTC has lots of innovation. Coloured coins, Lighthouse, tons of third party applications being built on top of BTC. Yes, the core protocol evolves at a snails pace. But with BTC the community is so large that all of these outside features that work with BTC can make up for it. With LTC there is nothing as far as I know. BTC and LTC don't work together, I don't see that connection at all really.

On the other hand there are lots of altcoins innovating lightning speed. Adding features like crazy while LTC does nothing but collect dust.

Personally, I would love to see a push to modernize LTC and bring it back to its former glory. But I don't see anyone from the LTC community caring enough to start in that direction.

I would argue that some of the features that the altcoins offer hurt the value of the coins rather the help the value. Less time between blocks means that more blocks will be orphaned, giving you less certainty that a TX will be included in the blockchian even after receiving confirmations. It would also give incentives for miners not to include any TXs in blocks they find as if they spend extra time to include the TX then there would be a greater chance their block would get orphaned.

[hodap]

I am pretty new to the crypto community but litecoin looks very interesting. I would like to see some infrastructure going up around it like bitcoin has going on.

Litecoin has little infra compare to bitcoin.

[TheMage]

I am pretty new to the crypto community but litecoin looks very interesting. I would like to see some infrastructure going up around it like bitcoin has going on.

Litecoin has little infra compare to bitcoin.

Litecoins infrastructure is small compared to Bitcoin, but still light years ahead of other coins.

I liked what someone else said not to long ago. Cryptos are very young in general. BTC is like the older brother, LTC is the little brother, and all the rest are still babies. Even the oldest is still very young, growing and learning.


I'm curious, when you guys mention infrastructure are you talking about code wise, or adoption, or what?

[FreeJack2k2]

People look at where Bitcoin is today and think, "Well why isn't Litecoin keeping up?" Forgetting completely the fact that Litecoin is about a year and a half behind Bitcoin and is currently going through the growing pains that Bitcoin went through, at the beginning of 2013. All of that is a distant memory now to Bitcoiners, but the transition of Litecoin to an ASIC-driven network has just started, in earnest. Throughout the rest of 2014, the transition is going to create a bit of a bumpy ride...but the result will be a network with at least ten times the hashrate it started the year with and a very robust, secure network that is immune to botnets. No other coin, besides Bitcoin, will be able to boast the kind of stats Litecoin's network will.

In the span of just over a month, we saw well over $20 million in ASIC hashrate deployed onto the Litecoin network. Over the summer and fall, we will easily cross over into $100 million. This is going to attract attention. Smart money wants in on the ground floor and Litecoin provides another ground floor opportunity.

All these products and services happening with Bitcoin are a direct result of the massive investment made into a dedicated mining infrastructure. That's where it starts...and Litecoin is about to explode, in that regard. It's foolish to ignore Litecoin out of some misplaced loyalty to Bitcoin, because if you look at how the pieces are falling right now, Litecoin is poised for a huge 2015. But by all means, keep throwing your money into pump and dump alts that are going nowhere, trying to make a quick fortune by timing your dumps right. I am a long-term investor and that's why my money is in Bitcoin and Litecoin, 50/50.

[Marlo Stanfield]

All these products and services happening with Bitcoin are a direct result of the massive investment made into a dedicated mining infrastructure. That's where it starts...and Litecoin is about to explode, in that regard. It's foolish to ignore Litecoin out of some misplaced loyalty to Bitcoin, because if you look at how the pieces are falling right now, Litecoin is poised for a huge 2015. But by all means, keep throwing your money into pump and dump alts that are going nowhere, trying to make a quick fortune by timing your dumps right. I am a long-term investor and that's why my money is in Bitcoin and Litecoin, 50/50.

I don't really see the connection between people investing in mining hardware for scrypt and the rise in adoption of Litecoin. What sort of attention do you think that will bring, and from who? I'm struggling to see what you're getting at here. Perhaps you could explain what sort of things you expect to happen in 2015 for Litecoin?

[keithers]

I am pretty new to the crypto community but litecoin looks very interesting. I would like to see some infrastructure going up around it like bitcoin has going on.

Litecoin has little infra compare to bitcoin.

Yes that may be true, but LTC is still leaps and bounds ahead of most other alt-coins.  It is also available on most major exchanges now, with most other alt-coins are not.  IMO more options is always a positive thing (in most instances), regardless of what you are looking at.   The more payment options, the better.   When using cryptos to pay for goods or services in the future, it will be better to be able to use BTC and LTC.   Right now for instance, you probably wouldn't be too stoked if a place accepted ONLY Visa, or ONLY American Express. 

[Ayers]

bitcoin will rise on itself, it need time for this, your idea is ok

[odolvlobo]

All these products and services happening with Bitcoin are a direct result of the massive investment made into a dedicated mining infrastructure. That's where it starts...

I don't really see the connection between people investing in mining hardware for scrypt and the rise in adoption of Litecoin. What sort of attention do you think that will bring, and from who? I'm struggling to see what you're getting at here. Perhaps you could explain what sort of things you expect to happen in 2015 for Litecoin?

The connection is that initial adoption of a currency is primarily by the miners that mine it. But I agree that mass adoption beyond the miners has nothing to do with mining.

[BitchicksHusband]

The number one thing IMO is to pick a day and change the units to a smaller unit that fits more with "regular" numbers.  People don't like .00051 bitcoins.

[Marlo Stanfield]

All these products and services happening with Bitcoin are a direct result of the massive investment made into a dedicated mining infrastructure. That's where it starts...

I don't really see the connection between people investing in mining hardware for scrypt and the rise in adoption of Litecoin. What sort of attention do you think that will bring, and from who? I'm struggling to see what you're getting at here. Perhaps you could explain what sort of things you expect to happen in 2015 for Litecoin?

The connection is that initial adoption of a currency is primarily by the miners that mine it. But I agree that mass adoption beyond the miners has nothing to do with mining.

Yeah, sure the miners are the first ones on the train by default with any new coin. The difference here is that Litecoin was new three years ago so I'm not sure what FreeJack2k2 is expecting to happen when everyone has ASICs. Is he expecting those who purchase ASICs to not only hold the coin they mine, but buy additional coins as well?

[FreeJack2k2]

Yeah, sure the miners are the first ones on the train by default with any new coin. The difference here is that Litecoin was new three years ago so I'm not sure what FreeJack2k2 is expecting to happen when everyone has ASICs. Is he expecting those who purchase ASICs to not only hold the coin they mine, but buy additional coins as well?

They will have to hold the coin. Basic economics will dictate that, because there will be no other coin for that hashrate to flee to, for profitability. It'll be the same situation as exists in SHA-256 today.

The strength of the network will attract development and capital investment...as has been the case with Bitcoin. Before ASICs made Bitcoin the titan it is today, it was down around $10-12. It was the investment in hardware infrastructure, both on the manufacturer side and the miner side, that attracted all of the capital that has led to Bitcoin's current level of growth (and I'm not talking price, I'm talking venture capital, business interest, products and services, etc...) Hundreds of millions in dedicated hardware infrastructure tells investors, "This should be taken seriously."

You guys act like there's no precedent for this. As though Bitcoin was $500 when ASICs started getting deployed onto its network. In January 2013 when the first Bitcoin ASICs launched, it was $14. The explosive growth of the network and the dedicated hardware infrastructure that was being built for it was what caught peoples' attention (although the Silk Road news reports and Cypress obviously helped).

[ajareselde]

Hello Reader,

Will TV commercials, billboard advertising and sponsoring events or racecars raise the value of BTC or LTC?

If you have an another Idea please reply. I am thinking of realising one or more ideas.

both would benefit much just by being more constructive in development.
especialy litecoin, who has no development since it was created, alot of new coins have some sort of additional anonnimity or extra functions, but btc and ltc have none.
that is the reason crypto isnt seaing new highs, and there is constant downtrend