Litecoin Is NOT Dead (It Is Just Dying A Slow Death)

[shanecoins]

It is too early to tell where Litecoin is headed, wait till the first block halving occurs. We are still in the very early stages in this whole crypto game. Bitcoin is paving the way right now, a few alts will follow suit and I am sure Litecoin will be one of them. A few others will also be adopted, I am not sure which ones however. At this point that is impossible to predict, too many unknowns.

you took the words right outer my mouth 

[1715423056]

1715423056

[1715423056]

1715423056

[dewdeded]

I think this posting by Coblee: “Litecoin Does Not Need Development Right Now” will go down in history final turning point and starting date of LTCs last phase of life, leading to complete project failure and price < 1Ct.  

Even now, well known hardcore Litecoiners for the first time don't believe Coblee anymore, they doubt the statement and think its wrong and questioned it in public.
(People that always until this point took als words from Coblee as "undoubtedly messages from god" and NEVER questioned a word he said before and always frenetic defended other controverse statements by Coblee before.)

[Mjbmonetarymetals]

I think this posting by Coblee: “Litecoin Does Not Need Development Right Now” will go down in history final turning point and starting date of LTCs last phase of life, leading to complete project failure and price < 1Ct.  

Even now, well known hardcore Litecoiners for the first time don't believe Coblee anymore, they doubt the statement and think its wrong and questioned it in public.
(People that always until this point took als words from Coblee as "undoubtedly messages from god" and NEVER questioned a word he said before and always frenetic defended other controverse statements by Coblee before.)

You seem to be cultivating a little god complex of your own 

[jertsy]

It is too early to tell where Litecoin is headed, wait till the first block halving occurs. We are still in the very early stages in this whole crypto game. Bitcoin is paving the way right now, a few alts will follow suit and I am sure Litecoin will be one of them. A few others will also be adopted, I am not sure which ones however. At this point that is impossible to predict, too many unknowns.

When is the the first block halving likely to happen?

[Pecunia non olet]

look at this green dildo from china:



and it even glows in the dark 

[shanecoins]

WAKE THE FUCK UP LITECOIN

[The Chainmaker]

Guys so predictable we all know the LTC will go up. If there is a coin that I can put my faith in is LTC.

Technically litecoin has lot of advantages but at the moment bitcoin has lot more mass and momentum

both of them are doing horrible.

Bitcoin inflation 10%
Litecoin inflation 30%

it's insanity to expect gains from coins with these errosions

That's crazy. That means Litecoin needs $80 000 in excess new demand per day just to offset the coins being sold by miners at the current CAP. No wonder it can't sustain itself.

$3 million of new demand a month is needed just to sustain its current price. Good luck getting that in a bear market.

Bitcoin is needs a million dollars a day!  It is a lot more inflationary if one considers the total effect because of marketcap.

[The Chainmaker]

how is it insaity to believe the inflation is real? I can see it on the blockexplorer. It's very real. This is what you call cold numbers or facts.

Bitcoin and all PoW are very inflationary at the start and dwindle into low inflation after most of their block rewards are halved.  Finally when a PoW coin goes full PoS, then it becomes deflationary.  

Really the only deflationary coins are the PoS ones that have fully released their entire coin supply to the public.  

[FreeJack2k2]

I think this posting by Coblee: “Litecoin Does Not Need Development Right Now” will go down in history final turning point and starting date of LTCs last phase of life, leading to complete project failure and price < 1Ct.  

Even now, well known hardcore Litecoiners for the first time don't believe Coblee anymore, they doubt the statement and think its wrong and questioned it in public.
(People that always until this point took als words from Coblee as "undoubtedly messages from god" and NEVER questioned a word he said before and always frenetic defended other controverse statements by Coblee before.)

Except that he's right. The protocol works as intended. It doesn't have any huge bugs that need squashing. What he's saying is that you shouldn't expect them to start adding any new bells and whistles to it, in an effort to create news for some kind of short-term pump. There's no reason to add anything that could potentially break it, for questionable gain.

He isn't suggesting that Litecoin doesn't need any third party development. He's just saying that the protocol itself is solid. Look at what Warren is working on, in terms of changes. There ARE things planned for it...changes to accommodate sidechains in the future and things of that nature, which will eventually require a hard fork. But with the protocol working well and not encountering major problems, there ISN'T an urgent need for major developments. It's short attention span theater in crypto, these days...I swear.

[thevictimofuktyranny]

I think this posting by Coblee: “Litecoin Does Not Need Development Right Now” will go down in history final turning point and starting date of LTCs last phase of life, leading to complete project failure and price < 1Ct.  

Even now, well known hardcore Litecoiners for the first time don't believe Coblee anymore, they doubt the statement and think its wrong and questioned it in public.
(People that always until this point took als words from Coblee as "undoubtedly messages from god" and NEVER questioned a word he said before and always frenetic defended other controverse statements by Coblee before.)

Except that he's right. The protocol works as intended. It doesn't have any huge bugs that need squashing. What he's saying is that you shouldn't expect them to start adding any new bells and whistles to it, in an effort to create news for some kind of short-term pump. There's no reason to add anything that could potentially break it, for questionable gain.

He isn't suggesting that Litecoin doesn't need any third party development. He's just saying that the protocol itself is solid. Look at what Warren is working on, in terms of changes. There ARE things planned for it...changes to accommodate sidechains in the future and things of that nature, which will eventually require a hard fork. But with the protocol working well and not encountering major problems, there ISN'T an urgent need for major developments. It's short attention span theater in crypto, these days...I swear.

A lot of people, who bought mining equipment, bought it to become rich in Fiat Currency. One of my friends was planning to spend $10,000 on a KCNminer last year simply to sell the litecoins immediately to become richer in Fiat Currency (£). He got distracted by other events and never got around to it.

But, I think a lot of people did buy big ASIC miners to cash out into Fiat Currency last year (Litecoins were selling for $9 and KCNminers were going to chuck out Litecoins for $0.50). Therefore, these people will keep selling at abnormal rates and the Litecoin price will keep falling because they have zero interested in keeping crypto currencies! Only the size of their Fiat Currency bank balance matters to them.

Litecoin organisation could do an early block halving if it wanted a quick fix to the problem (many other coins have done changes to their block halvings). It would half the amount of coins the elevated number of non-miners with mining equipment can sell of each day for Fiat Currency and the price of coin would start going up.

The people mining and holding litecoin would not mine, because the price would start going up again. Those seeking to cash out into Fait Currency might be upset though! LOL

E.G. as example of maths (no actual Litecoin figures used)

Coin average is 10% of miners sell 10% of a coin each days production - Buyer interest is 10% of coin production = static price.

11% of miners sell coin 11% of each days production - Buyer interest is 10% of coin production = downward price pressure is 1% daily

Block halving early

11% of miners sell coin 11% of each days production (which is 5.5% after block halving) - Buyer interest is 10% of coin production = upwards price 4.5% daily.

Of course, in real exchanges people seldom use maths or macro economics, therefore there tends to be dramatic corrections when people realize something has changed when they weren't paying attention.

[onemorebtc]

Litecoin organisation could do an early block halving if it wanted a quick fix to the problem (many other coins have done changes to their block halvings). It would half the amount of coins the elevated number of non-miners with mining equipment can sell of each day for Fiat Currency and the price of coin would start going up.

The people mining and holding litecoin would not mine, because the price would start going up again. Those seeking to cash out into Fait Currency might be upset though! LOL

changing the reward scheme is dead to any crypto...
if we would accept that we could stay with fiat

btw its not possible to force this: all users (or atleast pools and exchanges) have to switch to the new variant

[thevictimofuktyranny]

Litecoin organisation could do an early block halving if it wanted a quick fix to the problem (many other coins have done changes to their block halvings). It would half the amount of coins the elevated number of non-miners with mining equipment can sell of each day for Fiat Currency and the price of coin would start going up.

The people mining and holding litecoin would not mine, because the price would start going up again. Those seeking to cash out into Fait Currency might be upset though! LOL

changing the reward scheme is dead to any crypto...
if we would accept that we could stay with fiat

btw its not possible to force this: all users (or atleast pools and exchanges) have to switch to the new variant

Have you seen Ripple, 20% of the coins are held by the founders, another 25% are held by Ripple Labs (organisation). People said: "no-one is going to accept this". This 30 Billion coin system, it price has gone through the roof because it miners are holding Ripples and not releasing them into the market.  That is an incredibly bonkers as idea or plan, but people have happily gone along with it and pumped it's price up the 2nd largest crypto currency - never say that x or y policy is unacceptable to investors and miners who hold crypto currencies. The facts prove the opposite is the truth.

At the end of day, Litecoin problems are Maths and Macro Economic questions, people who invest money into Litecoin want the price to go up and miners (who are holding/hoarding Litecoins) want the price to go up. These are the Long Term investors in Litecoin and if they want or need an early Block Halving the organisation will have to do it because they decide Litecoins future success or failure as Ripple has shown!

Building policies for people who mine crypto currency for Fiat Currency is quickest and most efficient way to kill any crypto currency.

I do not think Litecoin organisation will do an early Block Halving, because the organisation and it's mates have big mining operations, they will mine the coin downwards in price by another 12%, saving up the Bitcoins to do a massive buy back of Litecoins over May, June, July and August. Boosting their net crypto wealth by 12% and after the Block Halving Litecoin price will motor up to $3.5 a coin doubling their profits to 24%. LOL

You know crypto currencies are rife with insider trading (pre-agreed dumps and pumps amongst large holders of coins), it is perfectly legal in crypto currency world.      

[cozk]

[smoothie]

I think this posting by Coblee: “Litecoin Does Not Need Development Right Now” will go down in history final turning point and starting date of LTCs last phase of life, leading to complete project failure and price < 1Ct.  

Even now, well known hardcore Litecoiners for the first time don't believe Coblee anymore, they doubt the statement and think its wrong and questioned it in public.
(People that always until this point took als words from Coblee as "undoubtedly messages from god" and NEVER questioned a word he said before and always frenetic defended other controverse statements by Coblee before.)

Except that he's right. The protocol works as intended. It doesn't have any huge bugs that need squashing. What he's saying is that you shouldn't expect them to start adding any new bells and whistles to it, in an effort to create news for some kind of short-term pump. There's no reason to add anything that could potentially break it, for questionable gain.

He isn't suggesting that Litecoin doesn't need any third party development. He's just saying that the protocol itself is solid. Look at what Warren is working on, in terms of changes. There ARE things planned for it...changes to accommodate sidechains in the future and things of that nature, which will eventually require a hard fork. But with the protocol working well and not encountering major problems, there ISN'T an urgent need for major developments. It's short attention span theater in crypto, these days...I swear.

A lot of people, who bought mining equipment, bought it to become rich in Fiat Currency. One of my friends was planning to spend $10,000 on a KCNminer last year simply to sell the litecoins immediately to become richer in Fiat Currency (£). He got distracted by other events and never got around to it.

But, I think a lot of people did buy big ASIC miners to cash out into Fiat Currency last year (Litecoins were selling for $9 and KCNminers were going to chuck out Litecoins for $0.50). Therefore, these people will keep selling at abnormal rates and the Litecoin price will keep falling because they have zero interested in keeping crypto currencies! Only the size of their Fiat Currency bank balance matters to them.

Litecoin organisation could do an early block halving if it wanted a quick fix to the problem (many other coins have done changes to their block halvings). It would half the amount of coins the elevated number of non-miners with mining equipment can sell of each day for Fiat Currency and the price of coin would start going up.

The people mining and holding litecoin would not mine, because the price would start going up again. Those seeking to cash out into Fait Currency might be upset though! LOL

E.G. as example of maths (no actual Litecoin figures used)

Coin average is 10% of miners sell 10% of a coin each days production - Buyer interest is 10% of coin production = static price.

11% of miners sell coin 11% of each days production - Buyer interest is 10% of coin production = downward price pressure is 1% daily

Block halving early

11% of miners sell coin 11% of each days production (which is 5.5% after block halving) - Buyer interest is 10% of coin production = upwards price 4.5% daily.

Of course, in real exchanges people seldom use maths or macro economics, therefore there tends to be dramatic corrections when people realize something has changed when they weren't paying attention.

Changing block reward would do nothing.

Look up "Solidcoin 2".

[thevictimofuktyranny]

Block reward change would do nothing, only a lower mining difficulty and you would be back at your same reward level.

TODAY: Block Reward is 50, equals 28,800 new coins each day!

FUTURE: Block Reward Halving in August 2015 to 25, equals 14,400 new coins each day

Anyone mining Litecoin in August 2015 will get half the amount of coins they did with their mining equipment today, assuming the hashing power on network stays the same. The number of coins reaching the exchanges for sale into Fiat Currency will also halve.

You do know how crypto currencies work?

[mmitech]

I totally agree with OP, I lobbied for Litecoin when it was the best alt out there (there were only few alts anyway), but at this point with all innovative alts I really don't see the purpose of Litecoin existence anymore, it is just a bad copy of Bitcoin.


I don't even advise my friends to invest in crypto at the moment (I believe in really lower bottom) but in the future if any of my friends would ask about my opinion, I would suggest investing only in Bitcoin and one of the established and most developed Crypto 2.0 coins.

[BitcoinNational]

TODAY: Block Reward is 50, equals 28,800 new coins each day!

FUTURE: Block Reward Halving in August 2015 to 25, equals 14,400 new coins each day

5,256,000 ltc /year mid2015-mid2019
below $2 but not above and litecoin may live to 2020
Whats the price today?  The market is getting smarter about these long decay/inflationary coins

2020-2024 only adds 10.4M in ltc inflation

------------------------------
$2 ltc = +$60M tax to miners (2024) ... and it keeps on taxing after that too.
 

[kelsey]

I totally agree with OP, I lobbied for Litecoin when it was the best alt out there (there were only few alts anyway), but at this point with all innovative alts I really don't see the purpose of Litecoin existence anymore, it is just a bad copy of Bitcoin.


I don't even advise my friends to invest in crypto at the moment (I believe in really lower bottom) but in the future if any of my friends would ask about my opinion, I would suggest investing only in Bitcoin and one of the established and most developed Crypto 2.0 coins.

lol innovation, there is no innovative alts, innovations just a term to plug the latest scamcoin.

ltc been 2nd for a long time because it isn't a scam, it will still be second and bounce to new highs soon enough (most been around here long enough know that).

these are meant to be currencies btw how innovative is $USD?

joe publics does even 10 sec of research they'd cross all these so called crypto 2.0  off the list, if they could even understand them or find them in this pile of crap

[smoothie]

Block reward change would do nothing, only a lower mining difficulty and you would be back at your same reward level.

TODAY: Block Reward is 50, equals 28,800 new coins each day!

FUTURE: Block Reward Halving in August 2015 to 25, equals 14,400 new coins each day

Anyone mining Litecoin in August 2015 will get half the amount of coins they did with their mining equipment today, assuming the hashing power on network stays the same. The number of coins reaching the exchanges for sale into Fiat Currency will also halve.

You do know how crypto currencies work?

you are missing the point.

It wouldn't "do" something by changing the block reward NOW in terms of "fixing" price movements etc. It would only instill a precedent that the devs can and will change the block reward on a whim because the price went too far "down".

The developers shouldn't care about price from their development standpoint.

The block reward changing as it was predetermined from Litecoin's launch date in Oct 2011...WILL do something.

[smoothie]

I totally agree with OP, I lobbied for Litecoin when it was the best alt out there (there were only few alts anyway), but at this point with all innovative alts I really don't see the purpose of Litecoin existence anymore, it is just a bad copy of Bitcoin.


I don't even advise my friends to invest in crypto at the moment (I believe in really lower bottom) but in the future if any of my friends would ask about my opinion, I would suggest investing only in Bitcoin and one of the established and most developed Crypto 2.0 coins.

lol innovation, there is no innovative alts, innovations just a term to plug the latest scamcoin.

ltc been 2nd for a long time because it isn't a scam, it will still be second and bounce to new highs soon enough (most been around here long enough know that).

these are meant to be currencies btw how innovative is $USD?

joe publics does even 10 sec of research they'd cross all these so called crypto 2.0  off the list, if they could even understand them or find them in this pile of crap

I know yeah?

Since when does legitimacy = innovation?

Just because Litecoin wasn't the first and is similar to Bitcoin, doesn't mean it can't be successful.

The premise is false from the opinion presented by mmitech assumes that legitimacy = innovation = success and if something is not innovative that it will fail.