Do you think Litecoin is dead ?

[devphp]

Anything is vulnerable to centralization and monopolization. Hardly something to use as a reason it can't survive.

"Little fish don't have a chance". <-- This statement goes back to the example:

If all of the world's money supply was evenly divided amongst each living human being it wouldn't be long before many of those with fair shares of the money supply would lose it due to bad decision making or horrible risk management.

Claiming that as an argument is like saying "boo hoo the world isn't fair so now let me go and cry about it because I was late to the game or fucked up along the way."

The world doesn't work like that. Hardly an argument for why Bitcoin will fail.

Although there is a lot of truth in what you say, 'fairness' has been the latest craze, and most attacks on the IPO coins are based on the fact that they are somehow unfair. One example, you yourself said NXT was 'premined', hence you were not interested. That means you don't think NXT is fair. And now you're talking about things not being fair is ok.

[jubalix]

I struggle to see the use case for Light coin atm, except different algo.

That said I hold LTC.

The real sleeper is Peercoin.

It's the crypto that crypto people don't get.....backbone currecny....they just don't get it, it like it 2009 and trying to explain BTC and the word FIAT currency and everyone eyes glaze over....

Even with the 1000's of alts now out there, there is not one contender that is trying to be a backbone currency except peercoin.

Thats a hint as to how much not understood it is.


back bone currency will be the new FIAT (sorta) word that people understand.

In the mean time thanks for cheap Peercoins.

[smoothie]

Anything is vulnerable to centralization and monopolization. Hardly something to use as a reason it can't survive.

"Little fish don't have a chance". <-- This statement goes back to the example:

If all of the world's money supply was evenly divided amongst each living human being it wouldn't be long before many of those with fair shares of the money supply would lose it due to bad decision making or horrible risk management.

Claiming that as an argument is like saying "boo hoo the world isn't fair so now let me go and cry about it because I was late to the game or fucked up along the way."

The world doesn't work like that. Hardly an argument for why Bitcoin will fail.

Although there is a lot of truth in what you say, 'fairness' has been the latest craze, and most attacks on the IPO coins are based on the fact that they are somehow unfair. One example, you yourself said NXT was 'premined', hence you were not interested. That means you don't think NXT is fair. And now you're talking about things not being fair is ok.

Sorry but I'm not into fads or the latest craze. If you care to indulge in them have at it.

LOL don't put words in my mouth. I said it was premined and no thanks. Not that it "wasn't fair". lol

It is a personal choice not a complaint about "boo hoo I didn't get to hold the majority of coins".

There is a difference lol.

[devphp]

Smoothie,

I set the end date and my terms - on January 1st, 2015 Litecoin will be below 0.008. I bet 1 BTC. Ready to do an escrow.

Please, define your terms of the bet, and I'll see if I am ok with those.

[devphp]

LOL don't put words in my mouth. I said it was premined and no thanks. Not that it "wasn't fair". lol

It is a personal choice not a complaint about "boo hoo I didn't get to hold the majority of coins".

There is a difference lol.

So why do you care NXT was 'premined' then? (You can't premine something that cannot be mined, but we'll omit this debate for now).

Do you consider NXT unfair or not?

[crazy_rabbit]

Smoothie,

I set the end date and my terms - on January 1st, 2015 Litecoin will be below 0.008. I bet 1 BTC. Ready to do an escrow.

Please, define your terms of the bet, and I'll see if I am ok with those.

Hmm, I might want to spell out your terms a bit more specifically. You don't mention the exchange, and you don't mention how long Litecoin needs to be below .008. If it takes less then 1btc to move litecoin from .0079 to .008 you would lose at the cost of whatever it takes to move the price. Perhaps you should be more specific?

[smoothie]

Smoothie,

I set the end date and my terms - on January 1st, 2015 Litecoin will be below 0.008. I bet 1 BTC. Ready to do an escrow.

Please, define your terms of the bet, and I'll see if I am ok with those.

How long will it stay below 0.008?

I say it should stay continuously below 0.008BTC/LTC for more than 1 week continuously for you to win the bet.

Time frame would be fine with me if the time it stays below the price of 0.008 is okay with you.

Otherwise the bet is a no go for me.

Remember: I didn't claim that the price would continue below 0.008. You did. Thus that should mean the movement should be at least sustainable to merit being "right".

Escrow I suggest is Saltyspitoon for 1 BTC each.

Exchange price is from BTC-e.com

[smoothie]

LOL don't put words in my mouth. I said it was premined and no thanks. Not that it "wasn't fair". lol

It is a personal choice not a complaint about "boo hoo I didn't get to hold the majority of coins".

There is a difference lol.

So why do you care NXT was 'premined' then? (You can't premine something that cannot be mined, but we'll omit this debate for now).

Do you consider NXT unfair or not?

I consider it irrelevant.

I don't know enough about how it launched to consider it fair or not. But thanks for asking...even if only after trying to put words in my mouth.  

[devphp]

Smoothie,

I set the end date and my terms - on January 1st, 2015 Litecoin will be below 0.008. I bet 1 BTC. Ready to do an escrow.

Please, define your terms of the bet, and I'll see if I am ok with those.

Hmm, I might want to spell out your terms a bit more specifically. You don't mention the exchange, and you don't mention how long Litecoin needs to be below .008. If it takes less then 1btc to move litecoin from .0079 to .008 you would lose at the cost of whatever it takes to move the price. Perhaps you should be more specific?

Closing daily price: the 23:30 candlestick of Dec 31, 2014 at btc-e exchange.

[devphp]

Smoothie,

I set the end date and my terms - on January 1st, 2015 Litecoin will be below 0.008. I bet 1 BTC. Ready to do an escrow.

Please, define your terms of the bet, and I'll see if I am ok with those.

How long will it stay below 0.008? I say it should stay continuously below 0.008BTC/LTC for more than 1 week continuously for you to win the bet.

Time frame would be fine with me if the time it stays below the price of 0.008 is okay with you.

Otherwise the bet is a no go for me.

Remember: I didn't claim that the price would continue below 0.008. You did. Thus that should mean the movement should be at least sustainable to merit being "right".

Escrow I suggest is Saltyspitoon for 1 BTC each.

Exchange price is from BTC-e.com

1 week is a long time, it could spike up briefly since the market is thin and getting thinner and then go down below 0.008 again, especially since the price will be so low. That means technically you would win the bet, but Litecoin would still be dead. I don't accept staying below 0.008 for 1 week terms. Let's think of something else or this is a no go.

[smoothie]

Smoothie,

I set the end date and my terms - on January 1st, 2015 Litecoin will be below 0.008. I bet 1 BTC. Ready to do an escrow.

Please, define your terms of the bet, and I'll see if I am ok with those.

How long will it stay below 0.008? I say it should stay continuously below 0.008BTC/LTC for more than 1 week continuously for you to win the bet.

Time frame would be fine with me if the time it stays below the price of 0.008 is okay with you.

Otherwise the bet is a no go for me.

Remember: I didn't claim that the price would continue below 0.008. You did. Thus that should mean the movement should be at least sustainable to merit being "right".

Escrow I suggest is Saltyspitoon for 1 BTC each.

Exchange price is from BTC-e.com

1 week is a long time, it could spike up briefly since the market is thin and getting thinner and then go down below 0.008 again, especially since the price will be so low. That means technically you would win the bet, but Litecoin would still be dead. I don't accept staying below 0.008 for 1 week terms. Let's think of something else or this is a no go.

My terms stand. You made the claim the price would continue below 0.008. If you care to back out on that claim given my time frame of 1 week then I guess the bet is a no go and I do not believe your claims.

I'm the type of guy that likes to put my money where my mouth is. 1 week shouldn't be too long of a time frame given how the whole claim that "litecoin would still be dead" should apply.

My definition of when LTC would be dead to me is:

1. No one talks about it anymore.

2. No one is mining it anymore.

3. No one accepts it for payment anymore.

Otherwise it is still alive.

[smoothie]

If the bet is a no go no problem.

I've made my point I think just by the terms of the bet not being accepted. If you feel that is unfair no problem. But I think you backing out on the bet purely based on my reasonable time frame of price sustenance of 1 week shows me you truly don't believe your claim.

 

[devphp]

The price will continue down below 0.008, I stand by that.

I never said it wouldn't have spikes up, but the general trend when it dips below 0.008 will continue to be down.

The general trend is at least a few weeks or months, not days, so it could as well be up for 1 week and then go on down.

I don't accept your terms, as they are in your favor.

I consider my terms fair enough, not to my or your advantage, take it or leave it.

[smoothie]

The price will continue down below 0.008, I stand by that.

I never said it wouldn't have spikes up, but the general trend when it dips below 0.008 will continue to be down.

The general trend is at least a few weeks or months, not days, so it could as well be up for 1 week and then go on down.

I don't accept your terms, as they are in your favor.

I consider my terms fair enough, not to my or your advantage, take it or leave it.

I do not accept your terms either. 

I think I've proved my point here.

Let's now wait for LTC to "die". 

[devphp]

Alright, let's wait.

I thought you were long enough around cryptos to know that price sustenance is a very illusionary thing in these markets. I am sure you do, you just thought I didn't. Well, I do know that too

[crazy_rabbit]

The price will continue down below 0.008, I stand by that.

I never said it wouldn't have spikes up, but the general trend when it dips below 0.008 will continue to be down.

The general trend is at least a few weeks or months, not days, so it could as well be up for 1 week and then go on down.

I don't accept your terms, as they are in your favor.

I consider my terms fair enough, not to my or your advantage, take it or leave it.

Neither of you had terms specific enough. You could have dumped LTC to drop it below .008 for however short a period of time, just as Smoothing could have bought one ltc at .008 before midnight on Dec 31st.

Basically, it's a silly bet.

[smoothie]

Alright, let's wait.

I thought you were long enough around cryptos to know that price sustenance is a very illusionary thing in these markets. I am sure you do, you just thought I didn't. Well, I do know that too

Look at a BTC or LTC chart and you will see the price sustenance does exist. Don't make me laugh lol.

[smoothie]

The price will continue down below 0.008, I stand by that.

I never said it wouldn't have spikes up, but the general trend when it dips below 0.008 will continue to be down.

The general trend is at least a few weeks or months, not days, so it could as well be up for 1 week and then go on down.

I don't accept your terms, as they are in your favor.

I consider my terms fair enough, not to my or your advantage, take it or leave it.

Neither of you had terms specific enough. You could have dumped LTC to drop it below .008 for however short a period of time, just as Smoothing could have bought one ltc at .008 before midnight on Dec 31st.

Basically, it's a silly bet.

My terms were very specific. If you recall you had to remind him what he should include in his terms. Not for me though.

[devphp]

Look at a chart and you will see the price sustenance does exist. Don't make me laugh lol.

When I say it's illusionary, I mean it can disappear and spring out of nowhere very quickly, this market is all about rumors. Now, although I don't believe Litecoin can be resurrected by any rumors now, too late for that, the low price would ensure it wouldn't take a lot of Bitcoins to move the market briefly and even keep it artificially at that elevated level for 1 week. But the general trend would stay the same - down.

[smoothie]

To be clear why I asked for a time frame that the price would need to hold below is because when someone says "LTC is DEAD" then they should believe it will not recover even at least for a week since it is dead right?

Oh wait now I can see the back pedaling coming into play on what "dead" really means as you did not define it while using that word.

oops