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

[devphp]

Dogecoin and Litecoin market caps and hash rates will be on par some time this year.

[ChetnotAtkins]

There is no great future scenario for Litecoin. The competition is too far evolved with coins offering far more then Litecoin. A slow death is inevitable

[kokojie]

Wait, some one actually said “Litecoin has the best development team”??? I didn't know copy pasting was considered development.

[Liquid71]

Any mention of privacy features on LTC talk instantly gets shot down like it's so wrong to expect any privacy with ones own money and only criminals and drug dealers care about privacy.. it's not what features they do or don't have interest in it's the attitude that they need to follow in Bitcoin's shadow and not step outside of it and take zero chances that makes it a lame investment.  LTC talk feels like it's full of tweens and sheeple.

Just my 2 satoshis

[digitalindustry]

Ltc has issues since asics....

what is its use case v btc.

The only possible argument is it may have a better distribution that BTC, because of GPU's.....and perhaps algo back up.

Beyond that....what.


~~~~~

actually that means a lot if its a true statement - learn here if you like. :

https://bitcointalk.org/index.php?topic=670913.0

[digitalindustry]

Ltc has issues since asics....

what is its use case v btc.

The only possible argument is it may have a better distribution that BTC, because of GPU's.....and perhaps algo back up.

Litecoin doesn't have a better distribution than Bitcoin, check the statistics.

Most coins, no matter what good distribution they could have at some point in the past, end up in the hands of just a few people. It works like that with fiat or crypto. Distribution is a misleading word, only to attract newbs.

Well i agree with you on that, I think being obsessed with "fair" distribution is pretty pointless, especially when once any coin can be traded for fiat its distribution becomes as "fair" as fiat. Those wealthy in fiat can then become those wealthy in cryptos.

totally incorrect -

you can have millions indeed "billions" of pieces of paper, this won't guarantee you a monopoly % share in a well distributed crypto all it will mean is that you can move the market.

this has been shown to be true.

[FreeJack2k2]

How are you doing today LTC bagholders?

Another BTC rally missed?

 

Litecoin never rallies on the same schedule as Bitcoin. Money always leaves Litecoin when Bitcoin reverses trend and starts going higher. Always...and then, when the Bitcoin rally peters out, money cycles back to Litecoin. Sometimes a lot more than was there, to begin with.

We have 5-6 solo miners with over 30% of the block rewards right now, which represents an unusually concentrated amount of dumping...and they're offloading in anticipation of the next round of hardware that's shipping next month and throughout the summer/fall.

It'll be bumpy for a while, but when the network has been overtaken by ASIC hardware, it's going to change the dynamic radically. Hashrate will no longer have anywhere to migrate for chasing profitability and miners will be forced to hoard until profitability improves. Unless they like losing money. Over time, it'll rebalance and that's when it'll boom...because the network will have increased its hashrate tenfold at least, since the start of 2014. The strength of the network will attract a lot of eyes.

Honestly...people in crypto these days have NO patience, whatsoever. The pump and dump mentality has overrun it.

[CoinHoarder]

Honestly...people in crypto these days have NO patience, whatsoever. The pump and dump mentality has overrun it.

Ya there can't be any other reasonable explanation for people not seeing value in Litecoin...  

No one has been able to sufficiently counter my arguments, and Litecoiners are still ignoring that the free market agrees with me.

Litecoin is in denial. They are busy putting band aids on a gushing wound (new slogan, logo, video, etc.)

You guys will soon figure out that you can put a bow tie on a pig, but at the end of the day it's still a pig.

[FreeJack2k2]

Ya there can't be any other reasonable explanation for people not seeing value in Litecoin... 

No one has been able to sufficiently counter my arguments, and Litecoiners are still ignoring that the free market agrees with me.

Litecoin is in denial. They are busy putting band aids on a gushing wound (new slogan, logo, video, etc.)

You guys will soon figure out that you can put a bow tie on a pig, but at the end of the day it's still a pig.

You haven't been able to sufficiently counter mine, either. Not with facts, anyway...just with counter-suppositions and prognostications.

Sorry, but the fact that around $30 million has been put into dedicated hardware infrastructure in Litecoin over the course of the last 6-8 weeks and a 120% increase in nethash since May 1st (around 340% since January) says more to me than some guy bellowing "Litecoin is dead" on a forum.

It's a good thing people haven't listened to those proclaiming "Bitcoin is dead" every time it had a significant price drop.

The marketing initiatives you are talking about are a preparation for the increase in attention Litecoin is about to receive, when the network blows up over the summer...and it's about to. It's about positioning. Or, we could just passively sit around and say, "CoinHoarder's right, it's all over" in the face of overwhelming evidence to the contrary. But that wouldn't be terribly smart.

[CoinHoarder]

Ya there can't be any other reasonable explanation for people not seeing value in Litecoin...  

No one has been able to sufficiently counter my arguments, and Litecoiners are still ignoring that the free market agrees with me.

Litecoin is in denial. They are busy putting band aids on a gushing wound (new slogan, logo, video, etc.)

You guys will soon figure out that you can put a bow tie on a pig, but at the end of the day it's still a pig.

You haven't been able to sufficiently counter mine, either. Not with facts, anyway...just with counter-suppositions and prognostications.

Sorry, but the fact that around $30 million has been put into dedicated hardware infrastructure in Litecoin  Scrypt coins over the course of the last 6-8 weeks and a 120% increase in nethash since May 1st (around 340% since January) says more to me than some guy bellowing "Litecoin is dead" on a forum.

It's a good thing people haven't listened to those proclaiming "Bitcoin is dead" every time it had a significant price drop.

FYP

Anyways.. if you would have been around as long as I have, you would realize that price does not follow difficulty. It doesn't happen that way with Bitcoin, and I am sorry that Litecoin is no exception. Any old timers can back me up on this statement, noobs always think that is true and proclaim it to be so until they realize that it is not.

A 340% increase is pitiful when taking into account all of the Scrypt mining hardware that has been sold, further proof that most people mine purely for profit and could give two shits about protecting Litecoin's network. Multi pools and the newest pump and dump scams have much more hash power behind them when combined and compared to Litecoin's hash rate.

Or, we could just passively sit around and say, "CoinHoarder's right, it's all over" in the face of overwhelming evidence to the contrary. But that wouldn't be terribly smart.

I don't expect you guys to give up, in fact I always expected the opposite. The problem is that you guys ignore honest criticism and brush it off as trolling.

[slapper]

Sorry, but the fact that around $30 million has been put into dedicated hardware infrastructure in Litecoin

Because it somehow worked for BTC ASICs, it must work for LTC too  . If LTC were a corporation, there would have been widespread shakedown at the top for their decisions, not to mention litigation for false advertisement, and condemnation for repulsive salespersons.

That $30 million in ASIC hardware deployment is not the first example of money being taken away from dumb hands and it won't certainly be the last. Either way it is hardly a sign of revival.

[FreeJack2k2]

A 340% increase is pitiful when taking into account all of the Scrypt mining hardware that has been sold, further proof that most people mine purely for profit and could give two shits about protecting Litecoin's network. Multi pools and the newest pump and dump scams have much more hash power behind them when combined and compared to Litecoin's hash rate.

You have no idea how much hardware has been sold (and in what MH/s), first of all...so you're not in a position to make a judgment on whether the hashrate increase is "pitiful" relative to it. You could look at Dogecoin's 10% increase compared to Litecoin's 120% increase in the same amount of time and call THAT pitiful, though.

Coin switching pools are not much more profitable than Litecoin...the reason being, the coins being mined are illiquid. Dump a significant amount and you crash the market for them. Their profitability due to gravity well and Digishield are a constantly moving target. As Litecoin's network expands in strength, it'll become clear that these alts are a waste of time and hashrate.

I'm no noob, I've been watching on a daily basis since early 2013. I've seen what has happened with Bitcoin. Miners continue to pour money into Bitcoin hardware to maintain their footprint in the network. The same will happen with Litecoin. But if you don't see how growth attracts money, I don't know how I can make this point to you. It's what the stock market is built on and it's what triggered Bitcoin's explosive growth. It became something far more than just "hobbyists mining a digital coin on their gaming PC."

If you actually went and did what you proposed and combined the total nethash of all competing Scrypt coins right now on Coinwarz, they MIGHT amount to half of Litecoin's nethash.

And by the way...don't fix my post when you don't know what you're talking about. That $30million number I posted was calculated based on the increase in Litecoin's network hashrate since the introduction of the 80MH/s models from Innosilicon, Zeusminer and Silverfish at an average wholesale cost of $9000 per 80MH/s device. I know you fancy yourself quite the know-it-all here, but you don't have your facts straight.

[digitalindustry]

Honestly...people in crypto these days have NO patience, whatsoever. The pump and dump mentality has overrun it.

Ya there can't be any other reasonable explanation for people not seeing value in Litecoin...  

No one has been able to sufficiently counter my arguments, and Litecoiners are still ignoring that the free market agrees with me.

Litecoin is in denial. They are busy putting band aids on a gushing wound (new slogan, logo, video, etc.)

You guys will soon figure out that you can put a bow tie on a pig, but at the end of the day it's still a pig.

i don't disagree with a lot of what you stated - and of course price does not chase difficulty however LTC at the moment is a better prospect than BTC so where does that leave us?

it soon becomes apparent that there are many "crypto scams" and few crypto currencies, if you take all the

obvious scams
PoS.
IPO.
and now ASIC driven crypto

out of the field,

what list do you have left?

its not a big one.

which to me is a perfect example of where crypto currency is at the moment, and actually is why i get quite bullish on the whole field.

[Mithril1977]

I just wanted to point out that I like some of the long term points made.

I'm for LTC.

[juicyjuice87]

MUST SEE! litcoins new song https://www.youtube.com/watch?v=3BZt6lumdlQ&app=desktop

[CoinHoarder]

A 340% increase is pitiful when taking into account all of the Scrypt mining hardware that has been sold, further proof that most people mine purely for profit and could give two shits about protecting Litecoin's network. Multi pools and the newest pump and dump scams have much more hash power behind them when combined and compared to Litecoin's hash rate.

You have no idea how much hardware has been sold (and in what MH/s), first of all...so you're not in a position to make a judgment on whether the hashrate increase is "pitiful" relative to it. You could look at Dogecoin's 10% increase compared to Litecoin's 120% increase in the same amount of time and call THAT pitiful, though.

I'd venture to say I have a better idea of how much hardware has been sold than you, seeing as though I used to distribute Gridseed mining hardware, and had contacts high up on the food chain in those regards. Sure, I agree a 10% increase is pitiful compared to a 120% increase, but anyone that knows anything knows that Dogecoin is crap so I'm not sure what your point is in that comparison.

Coin switching pools are not much more profitable than Litecoin...the reason being, the coins being mined are illiquid. Dump a significant amount and you crash the market for them. Their profitability due to gravity well and Digishield are a constantly moving target. As Litecoin's network expands in strength, it'll become clear that these alts are a waste of time and hashrate.

Actually.. people that are mining on multi pools are usually making more profit than people mining purely Litecoin. It is ridiculous to refute this fact, if you had any hands on experience then you would know so. Sure they have less liquidity, but it doesn't mean a higher profit can't be made mining something other than Litecoin, in fact it is a preposterous statement to say that multi pools are less profitable than purely mining Litecoin, or any coin for that matter. The same could be said for sha256 mining. If you aren't making more money in the long term on a multi pool, then you are on a crappy multi pool. Not all multi pools are as profitable as others due to the different techniques used.

I'm no noob, I've been watching on a daily basis since early 2013. I've seen what has happened with Bitcoin. Miners continue to pour money into Bitcoin hardware to maintain their footprint in the network. The same will happen with Litecoin. But if you don't see how growth attracts money, I don't know how I can make this point to you. It's what the stock market is built on and it's what triggered Bitcoin's explosive growth. It became something far more than just "hobbyists mining a digital coin on their gaming PC."

Ok, so you're not a noob, but you are clueless if you think price follows difficulty. You are ignoring all the money flowing into the infrastructure of Bitcoin. You are so focused on mining hardware that you can't realize the big picture. With Bitcoin much more of that money was also spent on things such as payment processors, exchanges, services, and protocols on top of Bitcoin. This isn't happening with Litecoin on the same scale it is happening with Bitcoin, at least not to the tune of hundreds of millions of dollars like Bitcoin. The reason for the price hike was many factors, and you seem to be insinuating that it is purely because of Bitcoin ASICs which is a ludicrous statement. Look in the project development and development subforums here and compare it to the Litecoin forums... a large percentage of money going into Litecoin is going into purely mining hardware, whereas with Bitcoin its being spread around all over the place. Stop acting like you have it all figured out when you are obviously clueless.

If price follows difficulty, then tell me why the Bitcoin price has not followed this trend the past 6 months? https://blockchain.info/charts/hash-rate

If you want more examples, they are numerous and I would be happy to provide them to you. It would be easier if you just did the research yourself though.

If you actually went and did what you proposed and combined the total nethash of all competing Scrypt coins right now on Coinwarz, they MIGHT amount to half of Litecoin's nethash.

If this is true, I will concede a point to you here. I haven't checked in a long time, but how I said it was how it used to be ever since multi pools came on the scene. I don't really care much about how secure Litecoin is anymore honestly.

And by the way...don't fix my post when you don't know what you're talking about. That $30million number I posted was calculated based on the increase in Litecoin's network hashrate since the introduction of the 80MH/s models from Innosilicon, Zeusminer and Silverfish at an average wholesale cost of $9000 per 80MH/s device. I know you fancy yourself quite the know-it-all here, but you don't have your facts straight.

That's all good and nice, and it would be applicable to the debate if price followed difficulty. However, your statement is based on a flawed premise that price follows difficulty, and that mining hardware investments for Bitcoin are the only reason Bitcoin's price has gone up. When in fact it has been proven over the years during the numerous ups and downs that price does not follow difficulty, and also ignoring all the money going into many different aspects of the Bitcoin infrastructure.. not just mining hardware.

Furthermore, Litecoin having the most secure ALT coin network is a flat out lie. Most of the coins in the top 10 market cap are not Scrypt coins. Sure, you have the most secure SCRYPT alt coin. Everyone knows pretty much all Scrypt coins are crap, so you guys are like king of the crap coins. Congratulations, that's a huge accomplishment. The newer more innovative coins don't need to waste millions in electricity spitting out useless strings of data to secure their block chains, meanwhile subjecting their miners to pre-order scams and shady mining manufacturers. Nor do they have to worry about centralization of the network further down the road like all ASIC mine-able coins will have to succumb to.

[CoinHoarder]

Honestly...people in crypto these days have NO patience, whatsoever. The pump and dump mentality has overrun it.

Ya there can't be any other reasonable explanation for people not seeing value in Litecoin...  

No one has been able to sufficiently counter my arguments, and Litecoiners are still ignoring that the free market agrees with me.

Litecoin is in denial. They are busy putting band aids on a gushing wound (new slogan, logo, video, etc.)

You guys will soon figure out that you can put a bow tie on a pig, but at the end of the day it's still a pig.

i don't disagree with a lot of what you stated - and of course price does not chase difficulty however LTC at the moment is a better prospect than BTC so where does that leave us?

it soon becomes apparent that there are many "crypto scams" and few crypto currencies, if you take all the

obvious scams
PoS.
IPO.
and now ASIC driven crypto

out of the field,

what list do you have left?

its not a big one.

which to me is a perfect example of where crypto currency is at the moment, and actually is why i get quite bullish on the whole field.

I mostly agree with your post too, however I am getting really annoyed with everyone repeating the notion that all PoS coins and IPOs are scams. Some of them are sure, but not all of them and it is wrong to generalize them like that. Each of them need to be analyzed separately.

[digitalindustry]

Honestly...people in crypto these days have NO patience, whatsoever. The pump and dump mentality has overrun it.

Ya there can't be any other reasonable explanation for people not seeing value in Litecoin...  

No one has been able to sufficiently counter my arguments, and Litecoiners are still ignoring that the free market agrees with me.

Litecoin is in denial. They are busy putting band aids on a gushing wound (new slogan, logo, video, etc.)

You guys will soon figure out that you can put a bow tie on a pig, but at the end of the day it's still a pig.

i don't disagree with a lot of what you stated - and of course price does not chase difficulty however LTC at the moment is a better prospect than BTC so where does that leave us?

it soon becomes apparent that there are many "crypto scams" and few crypto currencies, if you take all the

obvious scams
PoS.
IPO.
and now ASIC driven crypto

out of the field,

what list do you have left?

its not a big one.

which to me is a perfect example of where crypto currency is at the moment, and actually is why i get quite bullish on the whole field.

I mostly agree with your post too, however I am getting really annoyed with everyone repeating the notion that all PoS coins and IPOs are scams. Some of them are sure, but not all of them and it is wrong to generalize them like that. Each of them need to be analyzed separately.

uh oh - we will leave that one well alone.

yes if you say so. i can't disagree with what ever you decide to invest in. that's your choice.

**edit ok i just looked at your link there i can see you have emuni and other things on there, i don't doubt that these are certainly innovative, however distribution will be an issue.

i can't say for certainly that they will get it right or wrong, so to that degree i agree with you.

[CoinHoarder]

uh oh - we will leave that one well alone.

yes if you say so. i can't disagree with what ever you decide to invest in. that's your choice.

**edit ok i just looked at your link there i can see you have emuni and other things on there, i don't doubt that these are certainly innovative, however distribution will be an issue.

i can't say for certainly that they will get it right or wrong, so to that degree i agree with you.

I would not invest in over 50% of the coins that are listed in my innovative crypto currency thread, the actual percentage is probably much higher than that if I were to go through and figure out an exact number. It is not investment advice, and I agree that just because something is innovative doesn't make it a good investment.

It is meant to be a list of changes and/or improvements to Bitcoin, or completely new cryptocoins. After a few years of people releasing innovative coins, it will help developers in the future figure out what has been done before, what hasn't been done, what could be done better, etc.. it is basically just a resource for people developing new coins.

It is also meant as a starting point for looking into different coins to invest in, but more research needs to be done on each coin to come to a conclusion. As I said, I myself would not invest in most of the coins on that list, but I certainly would invest in a handful of those coins before I invested in Litecoin.

[Skele]

LTCs are very very low but it isn't entirely dead.

I think it will be completely desintegrated by the next 1-2 weeks, just wait a little more before buying a ticket to the moon...