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

[ChuckOne]

thanks for this well reasoned post.  

do you feel the added security of the litecoin blockchain with new asics on the way will prolong the life of litecoin, or accelerate its demise?

It's hard to say. I feel like in the long run it will be a bad thing, but the effects of the centralization of Bitcoin/Litecoin mining won't be felt for some time. As corporations, old money, and old money FIAT take over mining, the affects will start to show. At that point they are no longer decentralized currencies, it is moving that way already.

I think Litecoin will remain number 2 through at least the end of the year and possibly next year too. However, things are moving so quickly that it is completely possible that its demise could happen sooner rather than later. I think Bitcoin will be much harder to topple than Litecoin.

+1

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[devphp]

El Dude,

people raise valid concerns, and you are not helping newbies convincing them to invest into a depreciating coin.

[mymenace]

Bit much to read

could this also be said about btc at a time it had a similar marketcap

I have never been concerned about this new algo or this new fearure, I just want a coin that works, has adoption and a strong network

And so far that is btc and ltc

One day businesses will be able to have a cryptocurrency of choice

[ChuckOne]

Bit much to read

could this also be said about btc at a time it had a similar marketcap

Sorry, dude. But go back and read again. You missed the point completely.

[mymenace]

Bit much to read

could this also be said about btc at a time it had a similar marketcap

Sorry, dude. But go back and read again. You missed the point completely.

Ok i will read when I get a chance, just asking a question, I will gain more insight first

[rokkyroad]

Bitcoin is nowhere mass adoption by the general public, litecoin is positioned well should that happen. I hope it doesn't jump on the feature bandwagon doing tons of things badly rather than a few things well.

Meanwhile altcoiners living firmly in the 5th dimension have moved from Bitcoin, from litecoin to an ever growing fragmented list of new coins with zero chance of mass adoption, this altcoin section is the only driver for a constant parade of every more boring coins with more and more 'features that the world at large will never want or understand.

Litecoin could use more support but that support has been divided up into oblivion behind hundreds of coins largely created by a few devs who's only interest is making dollars.

Well said.

[instacalm]

Dakota and Devphp are obvious paid NXT sockpupet who think shitty ipo nxt will overtake nxt won't happen no matter how hard they try.

NXT is the future of crypto. 1000000x better than Litecoin could ever dream of being.

Comparing NXT to Litecoin is like comparing Superman to a squirrel.

Ya keep being a sockpupet everyone knows NXT and ipo coins are garbage.

Here we go again, thank you for your competent opinion

p.s. The topic is an interesting read

[ChuckOne]

Ok i will read when I get a chance, just asking a question, I will gain more insight first

Not necessary. Let it work on you when reading it.

[timmyd]

Nxt has no paid sockpupets lol we use our funds for projects. Like it or not nxt is getting closer everyday to 2nd spot. Let the old dog ltc die a peaceful death and let innovation and new technology come through. Dont be a bag holder and face it pow is not the way forward.

[msin]

Interesting read, as someone who has never owned LTC, I appreciate a view point from someone who has been a part of the  LTC community for a long time.  Personally I never invested in LTC because I viewed it as purely speculative, so why not just buy BTC.  I don't believe LTC owners are passionate about LTC as a true alternative to BTC (my opinion), they were just buying because they thought it would increase in value and they could sell it for a profit.   

My advice for investment, don't buy a coin if you are immediately thinking about an exit strategy.  Buy a coin because you can actually use it as intended (as a currency or whatever).  When BTC was at $2, I would only purchased it because I wanted to buy something that only accepted BTC  , that was a sign that BTC was incredibly undervalued, but I didn't see it at the time.

[mymenace]

It may reduce in marketcap but it is not dying

Myspace, microsoft, dell etc are not dead

Prevoius altcoins have tried cutting into the market with new features and failed

Until an altcoin can show a proven infrastructure, litecoins marketcap will remain strong

The same can be said about btc, an altcoin with great new features and a strong infrastructure can outdo btc in market size but i do not think it will cause the death of btc

[kalus]

Bitcoin is nowhere mass adoption by the general public, litecoin is positioned well should that happen.

why do litecoin supporters claim this?  I think more people know what dogecoin is than litecoin.  


Dogecoin - 349BTC
LTC - 13096BTC[/b]

nice, but that doesn't answer the question.

in order for mass adoption to occur, litecoin needs to be more than a way to launder bitcoin.  the volume you're showing off doesn't address the issue of recognition: only that litecoin has volume because it's used to scrypt-proxy mine bitcoins.  

in regards to the general public's awareness of cryptocurrencies, few people outside this community know what the fuck a litecoin is.  i think more people recognize dogecoin than litecoin. 

litecoin needs to have mass recognition long before it achieves mass adoption, but nobody has shown this problem is being addressed.

[hellscabane]

I will give them (well… Warren) a bit of credit for improving some security issues on both Litecoin and Bitcoin, but they do not see the glaring issue in that the end users don’t actually ever see these improvements. Nor do they particularly care… what I mean by that is… Have any of you ever had a problem because of a security issue in the Litecoin/Bitcoin client? I would be surprised to hear one person tell me yes they have, as after using it for years I haven’t and most cases that pop up seem to be user error.

However, with a technology so new and relatively "fragile," even one significant security flaw will implicitly mean death. Think about it, when was the last time you've heard of the central system of a bank or brokerage being broken in to? By this I mean, someone directly siphoning funds from the internal system, not someone doing an XSS exploit and retrieving user information; the later is akin to someone getting their PC hacked which happens quite regularly in the crypto-currency realm.

Due to rapid technological advancements and the competition being innovative and forward thinking (seeing a pattern here?), companies can become obsolete very fast and I see no reason why this does not (or could not) hold true with crypto currencies.

Although I can see where you are going with this, it's akin to saying a scripted language or specific productivity program becoming obsolete. Despite there being many choices, the big guns have by and large stood fast (major adoption or transitions between programming languages rarely happens, and although there have got to be at least 5 alternatives to MS Office, MS Office is by and far the kingpin despite spending years between significant enhancements even during this time of swift pace).

That said, I know full well that saying this frankly more to Bitcoin than to Litecoin; and appealing to the "longevity" of Litecoin is a mummer's farce. But it is also indicative of the "trust" that more and more places are placing into a select few crypto-currencies.

Although Litecoin may be accepted by more exchanges and merchants than other alternative crypto currencies, the more innovative and valuable ones are sure to follow. Multi coin payment processing is going to become more popular as more coins come out. Having a different payment processor for every crypto currency is just not a smart way of doing things, and the ones that only accept one or two crypto currencies will be less popular with merchants over time.

This is very true; with the way technology in the crypto-currency scene has evolved, we are heading to a point where a swath of coins will be easily available for processing. The problem is the relative volatility which will either hinder user's acceptance in dealing with certain coins or with the payment processor's risk.

Yes Litecoin’s network speed dwarfs that of other Scrypt coins, and it is likely much more secure than those. However, I think it is silly to focus on only Scrypt coins.

Although it is "silly" to focus only on SHA-256 and sCrypt, they have leaps and bounds more security analysis than many of the newer coins that just pastes a bunch of other algorithms with significantly less security vetting. In either case, an invested network is harder to bring down, but it isn't impossible (after all, parts of the crypto-currency scene reminds me of the .com bubble in the early 2000's).

---

I'll be honest, your assessment on a lot of the other points are quite fair and well-reasoned. I actually see the volume of LTC actually being too high for comfort at times. And just like the BTC Association, does anyone particularly care about Litecoin's? Finally, the only plus side I see with the faster confirmation times is that it aligns with LTC's vision of being the transactor to Bitcoin's slower times; but on that point, there are a plethora of other coins that can take that place.

Nonetheless, with the investment and security built and developed in LTC, I more think it's on a medium-term decline rather than on it's death bed. Over a year and a half ago, there was a much bleaker prospectus for Litecoin with significantly less development and infrastructure; combining everything, I don't see Litecoin on it's way out. If anything, LTC grew much too fast during the November rally and things are just evening out.

[Forceflow]

Dakota and Devphp are obvious paid NXT sockpupet who think shitty ipo nxt will overtake nxt won't happen no matter how hard they try.

NXT is the future of crypto. 1000000x better than Litecoin could ever dream of being.

Comparing NXT to Litecoin is like comparing Superman to a squirrel.

You are a little man darkota.  I know your kind.  Weaselly, sniveling, conniving pathetic worm.  You deleted my post just because you cannot refute it.  Coward.  Try to delete it now, little man.

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Quote from: percocet on June 21, 2014, 08:09:02 PM
I agree, Litecoin is pretty much dead.

The future will be BTC and second gen coins such as NXT, NEM, Etherium, etc.

The inflammatory thread topic probably indicates the seriousness of this discussion but I'll try anyways. 

You are a voice, but the market drowns out your shrill voice.  Litecoin is 2nd in marketcap and no coin is threatening that.  Money is the loudest form of speech in modern society.  As the saying goes, put your money where your mouth is.

The coins you mention will have to excel for years and by then Litecoin will have used its superior market position, dev team, (relatively) long lineage, and superior infrastructure to continue on its path to being a mature, trusted, and best alternative to bitcoin. If Litecoin were to do anything, it would debunk bitcoin because litecoin has some advantages over bitcoin -- namely faster transaction time, lower entry point in value (people like owning whole things, not fractions), and a non-shadowy creator. Having some proud of creating the currency is better than someone afraid to identify themself. 

The coins you mention are all ephemeral and, frankly, inaccessible to most.  That is a bad recipe for true lasting success.  It won't be broadly based and therefore it can't dethrone litecoin.  People are so short sighted in this but even bitcoin took a dip as ASICs came out for SHA-256.  Litecoin is just going through the same growing pains. Its folly to read too much into that when all of the other numbers indicate long term sustained success.  Just my 2 satoshis.
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[dewdeded]

OP: Good posting, summarizing LTCs biggest problems in an well written FUD free article. As you are only stating facts, obvious me and many others share your thoughts.

From a serious investors point of view there simply is no better choice.
Sure Litecoin appears boring for some members crawling in this forum, but thats the hallmark of a stable business oriented coin.

After you and other serious investors came to the decision that LTC is the best Altcoin choice to invest. Then please tell us, what percentage of LTC holdings (out of all crypto coin holdings) you advise for regular people. And please  justify your number.
(Bonus question: if differs, what % of LTC should serious investors hold)

Next question: You talk about serious investing, then I have to ask you: dont you see the big problems in LTCs project and community management & its general very slow ecosystem development?
IMHO this must/should worry serious LTC investors.

[bitcoincal]

Litecoin is losing on the marketing end now against all the new alt coins.

[poornamelessme]

Interesting read. Litecoin is actually the coin I first read about that got me interested in cryptos back in Jan (read some article somewhere on it). Before then, I had no idea that alt coins even existed and a very rudimentary knowledge of bitcoin. I thought I'd play around with this crypto stuff and maybe I could get a free litecoin out of it, just for fun.

I never bothered really going past that 1 ltc (and have since sold it) and now have a small chunk of btc instead (and various alts). The problem I saw, and still see, is a lack of innovation and the fact that there really is no reason for the value of ltc to rise a whole lot anymore.

I think the OP touched on one really important fact, multi coin processors for purchases. They already exist, and I think they will become the standard if cryptos make any headway into being used as a currency by the general public at all. And that means there will be no difference between ltc, doge, nxt, or whatevercoin, when ConsumerX decides to use crypto to buy something.

The only coins then that could stand out a bit are those that have unique features (nxt flavors, ethereum, maidsafe, anon coins, etc). And I'm not saying any of them will even take the #2 spot, but that #2-#6 spot may end up being somewhat bunched up close to one another.

[darkota]

Interesting read. Litecoin is actually the coin I first read about that got me interested in cryptos back in Jan (read some article somewhere on it). Before then, I had no idea that alt coins even existed and a very rudimentary knowledge of bitcoin. I thought I'd play around with this crypto stuff and maybe I could get a free litecoin out of it, just for fun.

I never bothered really going past that 1 ltc (and have since sold it) and now have a small chunk of btc instead. The problem I saw, and still see, is a lack of innovation and the fact that there really is no reason for the value of ltc to rise a whole lot anymore.

I think the OP touched on one really important fact, multi coin processors for purchases. They already exist, and I think they will become the standard if cryptos make any headway into being used as a currency by the general public at all. And that means there will be no difference between ltc, doge, nxt, or whatevercoin, when ConsumerX decides to use crypto to buy something.

The only coins then that could stand out a bit are those that have unique features (nxt flavors, ethereum, maidsafe, anon coins, etc). And I'm not saying any of them will even take the #2 spot, but that #2-#6 spot may end up being somewhat bunched up close to one another.

I agree, Litecoin has a severe lack of innovation and that will be it's undoing. It's not really accepted at much stores and it doesnt have widespread adoptance. Only a matter of time when Litecoin gets taken over.

[poornamelessme]

I agree, Litecoin has a severe lack of innovation and that will be it's undoing. It's not really accepted at much stores and it doesnt have widespread adoptance. Only a matter of time when Litecoin gets taken over.

Well, with the multi coin processor stuff, I expect ltc to be accepted at the same number of places as any other coin. So that's a plus in the sense that ltc then will be usable almost anywhere cryptos are... but so will every other crypto (or popular ones) too. It levels the playing field.

[rudeboi]

I used to be fairly into LTC, but over time have been shifting all my LTC into a 2nd gen coin at first it was just to diversify my holdings just in case a Bitcoin flaw was found so looked at one with a different code base. But as time has gone on I've come to similar conclusions as you, so have moved the whole lot to the coin I see as the most innovative with quickest development.